Thursday, November 21

Tag: News

Thieves Stealing Goods from a Moving Truck on the Agra-Mumbai Highway
Viral

Thieves Stealing Goods from a Moving Truck on the Agra-Mumbai Highway

In Madhya Pradesh’s Shajapur district, a startling video surfaced online, capturing three individuals engaging in a shameless theft. The incident occurred on the Agra-Mumbai National Highway, showcasing a level of boldness and recklessness that leaves viewers in disbelief. Here’s how the daring theft unfolded: The Setup: Two men positioned themselves atop a moving truck. With skillful precision, they began stealing goods while the truck was still in transit. The audacious scene played out with remarkable coordination, as if choreographed for a movie. The Heist: As the truck continued its journey, the thieves dropped a large parcel of goods onto the road. A motorcycle rider closely followed the truck, ready to assist in the theft. The men descended from the...
Health Insurance for All Ages: IRDAI’s Progressive Decision to lift Age Limit of 65 years
BFSI, Goverment Notice/Circulars, Insurtech

Health Insurance for All Ages: IRDAI’s Progressive Decision to lift Age Limit of 65 years

In a significant move, the Insurance Regulatory and Development Authority of India (IRDAI) has abolished the age limit for purchasing health insurance policies, effective from April 1, 2024. This decision marks a departure from the conventional constraints that previously limited individuals in securing comprehensive health coverage.  With the recent announcement, the regulatory body has eliminated the cap on buying health insurance policies, marking a significant departure from the conventional constraints that often limited individuals in securing comprehensive coverage Furthermore, this move is poised to stimulate innovation within the insurance sector. Insurers are now incentivised to diversify their product offerings, catering to a broader spectrum of healthcare requirements. ...
iCapital Marketplace Launches in Singapore and Hong Kong: News Update
Global BFSI, Business, Startups, Wealthtech

iCapital Marketplace Launches in Singapore and Hong Kong: News Update

iCapital, a global fintech firm, has recently introduced its groundbreaking iCapital Marketplace in Singapore and Hong Kong. This innovative platform aims to streamline access to a diverse range of alternative investments for wealth managers and advisors. By leveraging proprietary technology, iCapital Marketplace addresses common industry challenges and transforms the investment process by providing simplified subscription processes, educational resources, and a comprehensive suite of investment opportunities. Enhancing Wealth Management through Technology The iCapital Marketplace platform offers an array of features and benefits that revolutionize the wealth management landscape. Simplifying the Investment Process: With its user-friendly interface, iCapital Marketplace simplifies t...
Top Funding Trends in Indian Startup Ecosystem, 2024
Startups

Top Funding Trends in Indian Startup Ecosystem, 2024

In recent times, India’s vibrant startup ecosystem has faced a challenging phase known as the ‘funding winter’. Despite being the fourth-largest venture market globally in 2023, Indian startups have experienced a downward trend in funding. Investors are exercising caution and selectivity, resulting in a significant drop in venture capital investments. Here are some key points: Venture Capital Investments Decline: In 2023, venture capital investments in India plummeted to $11 billion, a mere one-fourth of the $42 billion recorded in 2021. Late-Stage Funding Hit Hard: Late-stage funding has been severely impacted, shrinking by 82% since 2021. Seed funding has also halved. Unicorn Status: The number of startups achieving unicorn status (valuation of $1 billion) dropped ...
Paytm Stock Skyrockets 11% in 2 Sessions, Hits Upper Circuit at 389.20: Here’s Why
Fintech, Payments

Paytm Stock Skyrockets 11% in 2 Sessions, Hits Upper Circuit at 389.20: Here’s Why

Paytm, the parent company of One97 Communications, experienced a surge in its stock price, reaching the upper circuit for the second consecutive trading session. The stock price rose by 18.50 points or 4.99% to reach 389.20. This increase comes after Paytm received approval from the National Payments Corporation of India (NPCI) to join the Unified Payments Interface (UPI) as a third-party application provider under the multi-bank model. The move is viewed positively by Morgan Stanley, which maintained an Equal Weight stance and a target price of Rs 555. The approval marks an important milestone for Paytm as it ensures continuity in UPI transactions and AutoPay mandates for existing users and merchants. This development also signifies a potential shift in Paytm's business model towards clos...
UBS to Cut 70 Staff in Asian Wealth Management Division: Restructuring Update
Fintech, Wealthtech

UBS to Cut 70 Staff in Asian Wealth Management Division: Restructuring Update

UBS, a prominent wealth management entity, has announced plans to downsize its staff in the wealth management division across Asia. The restructuring initiative will primarily affect operations in Hong Kong and Singapore and is expected to result in a reduction of approximately 70 positions. The decision comes amidst a challenging financial climate that has impacted the profitability of UBS's Asian wealth management sector. While specific details remain undisclosed, this move reflects the ongoing adjustments within the financial industry as firms navigate fluctuating market conditions.   Read More on : Fintech News Also Read: PPRO Raises €85m in Funding to Drive Global Payment Expansion and Market Domination Future of Payments in India : 5 Key Predictions
PPRO Raises €85m in Funding to Drive Global Payment Expansion and Market Domination
Fintech, Payments

PPRO Raises €85m in Funding to Drive Global Payment Expansion and Market Domination

PPRO, a leading local payments platform, has successfully secured €85 million ($92.8 million) in funding through a dual-tranche funding round. The investment comes from a mix of new and existing investors, including prominent names like Eurazeo, HPE Growth, and PayPal Ventures. With this infusion of capital, PPRO plans to fuel its growth in key markets and further enhance its global network of local payment methods. This funding round follows PPRO's remarkable performance in 2023, which saw the company achieve record revenue. PPRO's mission is to simplify access to local payment methods, and this funding will enable the company to continue providing seamless payment experiences to customers worldwide. Read More on: Fintech Magazine Also Read: 7 Key Insights from FinTe...
Revolutionizing Finance Globally and Locally: Exploring Neobanks
Blog

Revolutionizing Finance Globally and Locally: Exploring Neobanks

The Rise of Neobanks: A Global and Indian Perspective Introduction: In the fast-paced world of finance, a new player has emerged on the scene, changing the way we perceive and interact with traditional banking – Neobanks. These digital disruptors are not your typical brick-and-mortar banks; instead, they are sleek, agile, and entirely online. Let's delve into the global and Indian context of neobanks to understand how they are reshaping the financial landscape. Global Overview: Neobanks, also known as challenger banks or digital banks, have gained significant traction worldwide, challenging the dominance of traditional banking institutions. Unlike traditional banks, neobanks operate exclusively in the digital realm, with no physical branches. Their existence is facilitated by cutting-e...
Fintech Magic: Making Money Simple and Fast for Young Indians
Blog

Fintech Magic: Making Money Simple and Fast for Young Indians

Exploring the Charm of Fintech: A Tale for Our Young Desi Minds Ram Ram doston! Have you ever wondered about the enchanting world where paisa meets technology? Well, that's Fintech in literal terms! Today, let's embark on a journey to demystify the wonders of Fintech in simple words that even our youngest friends can understand. What is Fintech? Using the power of technology to make money matters simpler, fast, and more enjoyable! It's a fusion of "Finance" and "technology." Imagine your piggy bank having its own tez dimaag and superpowers – that's what Fintech is all about! How does it work? Think about how you receive your pocket money. Usually, it's a physical exchange – a few coins or notes handed over to you. Fintech changes this game by making money digital. It's like having...
Safeguarding Your Finances: Understanding UPI Frauds and Mitigating Risks
Blog

Safeguarding Your Finances: Understanding UPI Frauds and Mitigating Risks

Understanding UPI Frauds: With the rapid growth of digital transactions in India, the Unified Payments Interface (UPI) has emerged as a popular and convenient mode of transferring money. However, with the increased adoption of UPI, there has also been a rise in various types of frauds targeting unsuspecting users. In this article, we will explore common types of UPI frauds and provide valuable tips on how the general public can mitigate the risks associated with them. Types of UPI Frauds: Phishing Attacks: Fraudsters often use deceptive emails, messages, or fake websites to trick users into revealing their UPI credentials. Mitigation: Be cautious of unsolicited messages or emails. Always verify the authenticity of the website and double-check the sender's details befor...