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“Collaboration between fintechs that can source business and the traditional companies that know how to run those businesses can be a good way to really spread the last mile further to access more customers and at the same time ensure that you are providing them the right type of financial products.” ....
A few fintech and digital heads of banks welcomed the move, saying this would be similar to an Aadhaar or NPCI-like setup for domestic financial data and reporting ....
Large NBFCs like Aditya Birla Finance and Poonawalla Fincorp have informed the fintech startups they do business with that they will no longer provide capital for the highly risky buy-now-pay-later (BNPL) and very small ticket size consumer loans, according to the people cited above. ....
The Reserve Bank of India (RBI) has increased the limits on UPI payments to Rs 5 lakh for specific situations and announced the creation of a repository for fintechs. This move aims to expand digital payments and reduce reliance on physical cash or cheques. The limits for UPI transactions made to hospitals and educational institutes have been raised from ₹1 lakh to ₹5 lakh per transaction. ....
In a pointer to tough times ahead, fintechs are finding credit lines for small-ticket unsecured loans drying up following a recent central bank diktat. ....