India - NewNerve

Exploring NBFC Connect 2024: India’s Premier NBFC Summit

19Mar

By AnkitNo Comments

Events, NBFC

Exploring NBFC Connect 2024: India’s Premier NBFC Summit

NBFC Connect Summit, 2024: In the dynamic landscape of India's financial sector, the Non-Banking Financial Companies (NBFCs) play a crucial role in driving economic growth and providing financial services to various segments of the population. One event that brings together industry leaders, experts, and stakeholders to discuss emerging trends, collaborations, and innovations in the NBFC sector is the NBFC Connect Summit. In this blog post, we will delve into the key highlights and significance of the NBFC Connect 2024 Summit. Event Overview: The NBFC Connect Summit, organized by ET BFSI (Economic Times - Banking and Finance Services Intelligence), serves as a platform for knowledge-sharing, networking, and collaboration within the NBFC ecosystem. The upcoming edition, NBFC Connect 20...

From Aadhaar to UPI: India’s DPI Fuels FinTech Revolution

19Mar

By Ankit1 Comment

Fintech

From Aadhaar to UPI: India’s DPI Fuels FinTech Revolution

India’s DPI, comprising matured digital entities like Aadhaar, UPI, and FASTag, has been a game-changer for the FinTech landscape. These robust platforms have contributed nearly 0.9% to India’s GDP in 2022. But it doesn’t stop there—India’s UPI now spans seven nations globally, including recent additions like Nepal, Sri Lanka, and Mauritius. The approach to DPI emphasizes scalability, interoperability, and innovation, guided by principles such as open APIs and a multi-layered architecture. As we look ahead, DPIs hold immense promise, with the potential to triple economic value by 2030. Buckle up—the FinTech revolution fueled by India’s DPI is just getting started! 🚀🌐💰 To Read More visit: ETBFSI Also Read: How to Navigate the Regulatory Landscape for Fintech in India: A Compr...

9Unicorns’ Fifth D-Day: Over 20 Startups Set to Secure $110 Mn Funding

18Mar

By AnkitNo Comments

Startups

9Unicorns’ Fifth D-Day: Over 20 Startups Set to Secure $110 Mn Funding

In a significant development for the Indian startup ecosystem, 9Unicorns, the venture capital fund, is gearing up for its fifth D-Day. Over 20 promising startups are poised to secure a whopping $110 million in funding. This funding event marks a remarkable milestone, especially considering the challenges posed by the pandemic and economic fluctuations. The startups selected for this funding round span diverse sectors, including SaaS, fintech, healthtech, and edtech. The investment will fuel their growth, innovation, and market expansion. With 9Unicorns’ backing, these startups are well-positioned to make a significant impact in their respective domains. This article sheds light on the thriving Indian startup landscape and the crucial role played by venture capital firms like ...

7 Key Insights from FinTech LIVE Dubai, 2024

17Mar

By Ankit4 Comments

Payments, Events, Fintech

7 Key Insights from FinTech LIVE Dubai, 2024

One notable event that recently took place was FinTech LIVE Dubai, featuring Srinivasan Sampath, Acting Group CTO at First Abu Dhabi Bank. This insightful conference brought together influential leaders in the fintech industry to share their knowledge and experiences. In this article, we'll highlight seven key insights from the event, providing valuable information for finance enthusiasts and professionals alike. Insight 1: Connecting Fintech Leaders: FinTech LIVE Dubai is a premier platform that connects the world's leading fintech experts. The event serves as a networking opportunity for executives from various sectors such as finserv, banking, and insurance in the Middle East and Africa. By fostering collaboration and knowledge sharing, FinTech LIVE Dubai creates an en...

Future of Payments in India : 5 Key Predictions

14Mar

By Ankit1 Comment

Fintech, Payments

Future of Payments in India : 5 Key Predictions

The digital payments landscape in India has experienced rapid growth over the past decade, and it is expected to continue evolving in the coming years. In this article, we will explore the key predictions for the future of payments in India based on a report by NTT Data Payment Services. These predictions shed light on the trends and developments that will shape the payment industry and provide valuable insights for businesses and consumers alike. The Rise of UPI: Unlocking the Potential of Digital Transactions The Unified Payments Interface (UPI) has been a transformative force in India's digital payment ecosystem. UPI facilitates instant fund transfers between bank accounts through mobile devices, making transactions quick, convenient, and secure. The report predicts that UPI will co...

A Game-Changer for Cross-Border Transactions: 5 Ways to Pay Nepalese Merchants Using UPI

10Mar

By Ankit1 Comment

Blog, Fintech, Payments

A Game-Changer for Cross-Border Transactions: 5 Ways to Pay Nepalese Merchants Using UPI

UPI in Nepal: Strengthening People-to-People Ties between India and Nepal In today's interconnected world, digital payment solutions (Cross-Border Transactions) have become an integral part of our lives. The convenience, speed, and security offered by these platforms have transformed the way we conduct financial transactions. The recent announcement by the National Payments Corporation of India (NPCI) regarding the launch of Unified Payment Interface (UPI) in Nepal is a significant milestone in this regard. This collaboration between NPCI International Payments (NIPL) and Fonepay Payment Service has paved the way for Indian users to make seamless payments to Nepalese merchants using UPI. Introduction to UPI in Nepal: The introduction of UPI in Nepal opens up a world of possibilities fo...

Unlocking UPI Sentiments: Why 73% of Users Reject Transaction Fees

10Mar

By AnkitNo Comments

Payments, Fintech

Unlocking UPI Sentiments: Why 73% of Users Reject Transaction Fees

Understanding UPI Users’ Sentiments on Transaction Fees In the rapidly evolving landscape of digital payments, the Unified Payments Interface (UPI) has emerged as a game-changer. Its seamless and instant fund transfer capabilities have revolutionized the way we transact. However, recent discussions around introducing transaction fees have sparked debates. A recent survey sheds light on a critical aspect: transaction fees. Let’s explore the survey findings and their implications. Survey Findings: A Resounding Opposition to Transaction Fees According to a comprehensive survey conducted by LocalCircles, a pollster specializing in governance and public issues, 73% of UPI users are vehemently opposed to the idea of charging transaction fees for UPI transactions123. These findings...

Currency Diplomacy: RBI and Bank Indonesia Forge New Path with INR-IDR MoU

8Mar

By Ankit1 Comment

Blog, Fintech, Payments

Currency Diplomacy: RBI and Bank Indonesia Forge New Path with INR-IDR MoU

INR Meets IDR: A Game-Changer for India-Indonesia Trade As the heartbeat of India’s economy, the banking sector plays a pivotal role in shaping financial stability, credit growth, and technological advancements. The Reserve Bank of India (RBI) and Bank Indonesia (BI) have recently taken a significant step toward enhancing bilateral trade and strengthening economic ties. On March 7, 2024, they inked a Memorandum of Understanding (MoU) in Mumbai, paving the way for a new era of cross-border transactions. The MoU in a Nutshell Local Currencies Take Center Stage: The MoU aims to promote the use of local currencies—specifically, the Indian Rupee (INR) and the Indonesian Rupiah (IDR)—for bilateral transactions. By encouraging the adoption of INR and IDR, the RBI and BI seek to opt...

7 Key Components of IndiaAI Mission: Strengthening India’s AI Innovation Ecosystem

8Mar

By Ankit1 Comment

AI

7 Key Components of IndiaAI Mission: Strengthening India’s AI Innovation Ecosystem

Cabinet Approves Ambitious IndiaAI Mission to Strengthen the AI Innovation Ecosystem Source: Press Information Bureau (PIB) - Government of India Link: Press Release Date: March 7, 2024 The Cabinet, under the leadership of Prime Minister Shri Narendra Modi, has approved the comprehensive national-level IndiaAI mission with a budget outlay of Rs.10,371.92 crore. This mission aims to strengthen the AI innovation ecosystem in India by promoting responsible and inclusive growth through strategic programs and partnerships across the public and private sectors. The mission encompasses various components such as compute capacity, innovation centers, datasets platforms, application development, future skills, startup financing, and safe and trusted AI practices. IndiaAI Compute Capa...

RBI and Nepal Rastra Bank Collaborate for UPI-NPI Linkage to Boost Cross-Border Digital Payments

16Feb

By Ankit1 Comment

Blog

RBI and Nepal Rastra Bank Collaborate for UPI-NPI Linkage to Boost Cross-Border Digital Payments

RBI and Nepal Rastra Bank Sign Pact for UPI-NPI Linkage The Reserve Bank of India (RBI) and the Nepal Rastra Bank (NRB) have signed terms of reference to integrate their fast payment systems, India's Unified Payments Interface (UPI) and Nepal's National Payments Interface (NPI). This collaboration aims to streamline cross-border remittances between the two countries, enabling users of both systems to conduct instant, cost-effective fund transfers. After the signing of the terms of reference, the necessary systems will be implemented to interlink UPI and NPI. The formal launch of the UPI-NPI linkage will take place at a later date, as announced by the RBI. This integration between the RBI and NRB will deepen financial connectivity and reinforce the historical, cultural, an...