Thursday, November 21

Tag: India

RBI’s Regulatory Moves: Personal Loan Growth Slows Down
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Digital Lending, Fintech, NBFC, Startups

RBI’s Regulatory Moves: Personal Loan Growth Slows Down

The FinTech sector isn’t the only one feeling the impact of regulatory actions. Banks are now treading carefully in the realm of personal loans, thanks to the Reserve Bank of India’s (RBI) recent moves. Let’s delve into the details and understand how this cautious approach is affecting borrowers and lenders alike. Moderated Growth in Personal Loans According to RBI data, the year-on-year growth of unsecured personal loans has taken a step back. In February, it moderated to 23.1%, down from 24.4% in January and 27.6% in December 2023. This shift reflects banks’ response to the RBI’s concerns about the rapid expansion of personal loans. But what prompted this change? Let’s explore: The RBI’s Action Plan In November of last year, the RBI decided to tighten t...
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Detailed Review Of PhonePe Payments App
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Fintech, Blog, Payments, Review

Detailed Review Of PhonePe Payments App

Explore Certainly! Here’s a detailed review of the PhonePe payments app: PhonePe UPI, Payment, Recharge is a versatile payments app that offers a wide range of features. Let’s dive into the specifics: Payment Options on PhonePe Payments App: BHIM UPI: PhonePe allows you to use BHIM UPI for seamless money transfers. Credit and Debit Cards: You can link your credit and debit cards to make payments. Wallet: The app supports wallet-based transactions. Utility Bill Payments: Pay your utility bills (electricity, water, gas, etc.) directly through the app. Conveniently recharge your mobile phone. Online Shopping and Food Orders: Make online payments on popular shopping sites like Flipkart, Amazon, and Myntra. Pay for food orders from Zom...
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Google Pay App Detailed Review
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Blog, Fintech, Payments, Review

Google Pay App Detailed Review

Let’s explore why Google Pay is an excellent choice for consumers in India. Google Pay, formerly known as Google Tez, has evolved into a robust digital payment app with a host of features designed to enhance your financial experience: Send and Receive Money: Simple and Secure: Google Pay allows you to send and receive money effortlessly using a mobile app. Even if the recipient isn’t on Google Pay, you can still transfer funds. Zero Fees: Transactions on Google Pay are fee-free, making it a cost-effective way to handle payments. Audio-Based QR System: Google Pay introduced an innovative feature that uses ultrasonic waves to create one-time codes for secure digital payments1. Utility Bill Payments: Convenience: Pay your utility bills directly through Google Pay. ...
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Top 10 Payment Companies in India: A Comprehensive Review
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Blog, Fintech, Payments, Review

Top 10 Payment Companies in India: A Comprehensive Review

In recent years, the Indian digital payment landscape has witnessed tremendous growth, driven by a surge in smartphone usage and the government's push towards a cashless economy. With numerous payment companies vying for dominance, it can be challenging to determine which ones offer the best features, seamless payments, and exceptional user experiences. In this blog, we will review the top 10 payment companies in India and analyze their key attributes.   Paytm: Paytm is one of India's leading payment companies, offering a wide range of services, including mobile recharges, bill payments, and peer-to-peer transfers. With a user-friendly interface and robust security measures, Paytm has gained immense popularity. Its extensive merchant network and cashback offers further enha...
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India’s Forex Reserves Surge to a Record $645.58 Billion, Signaling Economic Resilience
2 Comments
BFSI, Finance

India’s Forex Reserves Surge to a Record $645.58 Billion, Signaling Economic Resilience

India's forex reserves have soared to a historic milestone, reaching an unprecedented level of $645.58 billion for the week ending March 29. The Reserve Bank of India (RBI) reported an increase of $2.9 billion in forex reserves, primarily driven by a rise in foreign currency assets. This remarkable achievement highlights the country's robust financial stability and serves as a safety net against future risks. Record High Forex Reserves: The latest data released by the RBI reveals that India's foreign exchange reserves have surpassed the previous record of $642.49 billion. The substantial increase of $2.9 billion can be attributed to the rise in foreign currency assets, which reached $570.61 billion during the same period. These reserves act as a buffer against potential risks, particular...
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From Crisis to Control: India’s Post-Pandemic Stimulus Earns Praise for Inflation Management, 2024
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Economics, Finance

From Crisis to Control: India’s Post-Pandemic Stimulus Earns Praise for Inflation Management, 2024

In the wake of the global pandemic, India's fiscal stimulus measures have been hailed as well-managed and effective, according to a recent study conducted by the Reserve Bank of India (RBI). The study reveals that India's post-pandemic fiscal stimulus had a minimal impact on inflation compared to other major economies around the world. These findings highlight the prudent and strategic approach taken by the Indian government and the Reserve Bank of India in mitigating the negative effects of the pandemic. Study Highlights: The RBI study analyzed the impact of pandemic-induced fiscal expansions on inflation in both advanced economies and emerging market economies. It considered supply-side factors and found that countries with larger fiscal stimulus measures experienced higher post-pa...
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Surge in Export Credit: Indian Banks Reach a 12-Month High Amidst International Demand
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BFSI

Surge in Export Credit: Indian Banks Reach a 12-Month High Amidst International Demand

Introduction to the Export Credit Surge  In an economic landscape marked by global uncertainties, Indian banks have emerged as pillars of stability and growth with a surge in export credit. The latest data reveals a remarkable surge in export credit, which has soared to a 12-month high of Rs 20,489 crore, showcasing the resilience and potential of the Indian export sector amid rising global demand. The Current Economic Scenario  The Economic Times reports that this surge is not just a fleeting spike but a sustained upward trajectory, with a 5% increase this financial year, marking the highest point since February of the previous year. This growth comes despite the ongoing Red Sea crisis, which has posed significant challenges to international trade due to piracy raids ...
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How to Participate in Startup Mahakumbh, 2024
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Fintech, Startups

How to Participate in Startup Mahakumbh, 2024

Startup Mahakumbh will be a first-of-its-kind event in terms of vision and magnitude, scheduled from March 18-20, 2024, at the iconic Bharat Mandapam in New Delhi. The event is expected to have participation from more than 1000 high-potential startups from India and the globe, with key global and Indian stakeholders such as unicorn startups, global and domestic venture capitalists, corporates, and industry leaders also participating. Join the Startup Mahakumbh Revolution! Participating in the Startup Mahakumbh event is a great way to engage with India’s vibrant startup ecosystem. To participate, you can register as a delegate, exhibitor, visitor, or student. Here’s how you can apply: Visit the official Startup Mahakumbh registration page1. Choose the category that applie...
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India’s Health Insurance Sector: Poised to Break the Rs 1 Lakh Crore Barrier
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Fintech, Insurtech

India’s Health Insurance Sector: Poised to Break the Rs 1 Lakh Crore Barrier

India’s health insurance sector is on the brink of a significant milestone, with projections indicating it will cross the Rs 1 lakh crore mark in FY24. This anticipated growth is not an isolated event but part of a consistent upward trend in the non-life insurance market, which is expected to grow at a rate of approximately 13-15% in the medium term1. The motor insurance segment has been a strong contributor to this growth, already surpassing the Rs 80,000 crore threshold. The health insurance segment, in particular, is expected to be a primary driver of growth, supported by increasing disposable income levels among consumers and a rise across other segments1. Several factors are contributing to the positive outlook for the health insurance sector: Favorable Regulatory Environment: Re...
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RBI Bulletin Forecasts: India’s Growth Potential Beyond 8%
1 Comment
BFSI

RBI Bulletin Forecasts: India’s Growth Potential Beyond 8%

The Reserve Bank of India’s (RBI) March Bulletin has expressed confidence in India’s economic growth, projecting the country can sustain an 8% annual GDP growth rate, with potential for even higher. The bulletin points to a conducive macroeconomic environment that could serve as a launching pad for further growth. Despite global economic headwinds, India’s GDP growth has averaged above 8% from 2021 to 2024. RBI Projects India Can Exceed 8% Growth Rate The October-December quarter of 2023-24 saw a six-quarter high in real GDP growth, driven by strong domestic momentum, robust indirect taxes, and lower subsidies. The bulletin also cites healthy corporate and bank balance sheets, a modest current account deficit, resilient external buffers, and ongoing fiscal consolidation as key factors su...
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