Fintech News - Latest Updates & Headlines
India's retail credit to GDP doubled over past decade, bank credit remained stable: Report
New Delhi, April 23: Retail credit in India has witnessed significant growth over the last ten years, from 9 per cent of GDP in 2013-14 to 18 per cent in 2024-2025, while bank credit has largely remained stable, according to a report by Motilal Oswal.
9 Indian banks figure in list of 40 Global Digital Champions: Report
New Delhi, April 22: As many as 9 Indian banks have been recognised as 'Digital Champions' among 40 banks that received the title globally, according to the Deloitte Global Digital Banking Maturity (DBM) survey released on Tuesday.
T. Rabi Sankar RBI Deputy Governor term extended by a year
New Delhi, April 22: The Appointments Committee of the Cabinet (ACC) has approved the reappointment of T. Rabi Sankar as Deputy Governor of the Reserve Bank of India (RBI) for a period of one year.
No plan to levy GST on UPI transactions over Rs 2,000: Govt
New Delhi, April 18: The Finance Ministry on Friday made it clear that the government is not considering any proposal to levy Goods and Services Tax (GST) on UPI transactions over Rs 2,000.
Israeli fintech startup Tapcheck raises USD 225 million in equity, debt funding
Tel Aviv, April 15: Tapcheck, an Israeli fintech startup that offers an on-demand pay platform, announced on Monday that it has raised USD 225 million in combined equity and debt financing. This latest funding includes a USD 25 million Series A extension round led by existing investor, PeakSpan Capital, and a USD 200 million credit facility provided by Victory Park Capital.
Indian startup ecosystem raises over $180 mn this week
New Delhi, April 12: The domestic startup ecosystem continued the funding momentum this week, with raising more than $180 million by 24 new-age companies.
Digital payments via UPI back to life after technical glitch
New Delhi, April 12: Digital payments via Unified Payments Interface (UPI) returned for most users on Saturday after the popular service suffered a nationwide outage affecting millions of users.
UPI services suffer nationwide outage, NPCI cites 'technical issues'
New Delhi, April 12: Digital payments via Unified Payments Interface (UPI) service suffered a nationwide outage on Saturday which affected millions of users.
FM Sitharaman rolls out red carpet for Austrian companies to invest in India
Vienna, April 11: Finance Minister Nirmala Sitharaman on Friday invited Austrian companies to invest in India and highlighted the huge potential for strengthening bilateral economic ties between the two countries in renewable energy, electric vehicles, innovations and startups.
Payments via mobile phones clocked 41 pc jump in July-Dec 2024
New Delhi, April 11: Payments through mobile phones in India recorded a 41 per cent jump in transaction volume to 88.54 billion and a 30 per cent rise in value to Rs 197.69 lakh crore in the second half of 2024.
E-mobility, chips and fintech key investment opportunities for Austria: FM Sitharaman
New Delhi, April 11: There are several opportunities for investment and business collaboration between Austria and India, especially in sectors such as e-mobility, semiconductors and fintech, Union Finance Minister Nirmala Sitharaman has stressed.
India, UK hold 13th Economic and Financial Dialogue in London
New Delhi, April 9: The 13th Ministerial meeting of the India-UK Economic and Financial Dialogue (13th EFD) was held on Wednesday at London. The Indian delegation, led by Union Minister for Finance and Corporate Affairs Nirmala Sitharaman, held high-level discussions with the UK delegation led by the Chancellor of the Exchequer, Rachel Reeves.
RBI announces six key measures to strengthen India's banking, fintech, payments ecosystems
Mumbai, April 9: In a move to strengthen India's financial ecosystem, Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday announced six additional measures focused on banking regulation, fintech, and payment systems.
NPCI to decide on person-to-merchant payments cap on UPI transactions: RBI
New Delhi, April 9: In order to further boost digital payments, the National Payments Corporation of India will be enabled to set the limit on person-to-merchants transactions via Unified Payments Interface (UPI), RBI Governor Sanjay Malhotra said on Wednesday.
India offers a compelling growth opportunity for foreign banks: FM Sitharaman
New Delhi, April 9: India offers a compelling growth opportunity for foreign banks and the government is actively encouraging foreign investment in the banking sector, Union Finance Minister Nirmala Sitharaman has stressed.
Maharashtra focusing on developing AI and Tech ecosystem in state, says CM Fadnavis
Mumbai, April 8: Maharashtra is focusing on developing artificial intelligence and technology in the state, as Mumbai is already a fintech capital, said Chief Minister Devendra Fadnavis on Tuesday.
India ranks 3rd highest-funded fintech startup ecosystem globally in Q1 2025
Bengaluru, April 8: India secured the third position globally in terms of funding raised for the fintech sector in Q1 2025, following the US and the UK, a report showed on Tuesday.
Nirmala Sitharaman set for week-long official visit to UK, Austria
New Delhi, April 7: Finance Minister Nirmala Sitharaman will embark on an official visit to the UK and Austria on Monday (today). Her visit will conclude on April 13.
India to emerge as global leader in innovation, tech-driven growth: Piyush Goyal
New Delhi, April 5: India would emerge as a global leader in innovation and technology-driven growth, Union Minister for Commerce and Industry, Piyush Goyal, has said.
Biometric payments becoming widespread in Russia: Report
New Delhi, April 3: Biometric payments have become widespread in Russia, according to a report on Thursday.
Startup Mahakumbh kicks off in Delhi, over 3,000 start-ups and 1,000 investors from 50 countries onboard
New Delhi, April 3: The second edition of the three-day Startup Mahakumbh 2025 officially kicked off at Bharat Mandapam here on Thursday, with the event standing as the largest gathering in India's startup ecosystem, featuring over 3,000 startups showcasing their latest technologies, products, and services.
India's rural lending landscape sees key transformation, structured loan schemes rise
New Delhi, April 2: Driven by rapid digitisation, rise of fintech and increased government support, the rural lending landscape in India is undergoing a significant transformation, creating new opportunities for structured and efficient lending models and ensuring that credit reaches those who need it most, according to a new report.
UPI transactions grow 42 pc, mobile payments reach 88.5 bn in 2nd half of 2024
New Delhi, April 2: The Unified Payments Interface (UPI) transactions soared by 42 per cent year-on-year (YoY) in the second half of 2024, totalling a remarkable 93.23 billion transactions, a new report said on Wednesday.
RBI played key role in making India global leader in digital payments: Prez Murmu
Mumbai, April 1: President Droupadi Murmu on Tuesday lauded the Reserve Bank for its key role in making India a global leader in digital payments with innovations like UPI revolutionising financial access.
Domestic startups secure more than $150 million this week
New Delhi, March 29: The domestic startup ecosystem secured more than $150 million this week, showcasing robust growth in the current financial year (FY25).
Startup Mahakumbh 2025 to drive India's innovation landscape, economic transformation
New Delhi, March 29: Following the tremendous success of its inaugural edition, Startup Mahakumbh 2025 is all set to drive India's innovation landscape and economic transformation.
GIFT City advances in Global Financial Centres Index 37, secures top spot in reputational advantage and improves FinTech ranking
Gandhinagar, March 26: Gujarat International Finance Tec-City (GIFT City)-- India's first operational smart city and maiden International Financial Services Centre-- has achieving notable improvements in multiple categories in the latest edition of the Global Financial Centres Index (GFCI 37), an official release added.
India's GIFT City rises in 'Global Financial Centres Index 37'
Gandhinagar, March 26: Gujarat International Finance Tec-City (GIFT City) on Wednesday said it has achieved notable improvements in multiple categories in the latest edition of the Global Financial Centres Index (GFCI 37), along with securing top rank in the ‘Reputational Advantage’ category.
72 pc Indian professionals willing to take loan to upskill: Study
Mumbai, March 24: About 72 per cent of Indian working professionals are willing to take loans to upskill themselves via edtech platforms, according to a report on Monday.
India's BFSI sector leases record 13.4 Million Sq Ft in 2024, driven by fintech boom & GCC expansion: JLL
New Delhi, March 24: India's banking, financial services, and insurance (BFSI) sector has achieved a new milestone by leasing 13.4 million square feet of office space in 2024. This marks a significant increase from the 11 million square feet leased in 2023, according to a report by JLL.
25 domestic startups raise over $176 million in funding this week
New Delhi, March 22: At least 25 Indian startups secured more than $176 million in funding this week, which included five growth-stage and 15 early-stage deals.
Citi report sets Rs 1,000 target for Paytm, says big changes in UPI could make It biggest winner
New Delhi, March 20: A Citi Research report has highlighted Paytm's strong position in India's digital payments ecosystem, despite shifts in UPI subsidy policies.
Paytm set to maintain strong contribution margin at 57 per cent by FY27E
New Delhi, March 20: Paytm merchant network expanded by 9 per cent year-on-year (YoY) to 43 million in the third quarter of FY25, with merchants using Paytm's devices increasing by 10 per cent YoY to 11.7 million, according to Motilal Oswal report.
Indian startups raise over $462 million in strong funding week
New Delhi, March 15: The Indian startup ecosystem witnessed a strong surge in funding this week, with 19 startups collectively raising approximately $462.27 million.
21 Indian startups raise over $105 million in funding this week
New Delhi, March 1: About 21 Indian startups collectively raised approximately $105.87 million this week, with securing funding across different stages.
UPI transactions see 33 pc YoY volume growth in Feb, value up 20 pc
New Delhi, March 1: The unified payments interface (UPI) transactions witnessed 33 per cent growth (year-on-year) in transaction volume in February at 16.11 billion, the National Payments Corporation of India (NPCI) data showed on Saturday.
UPI transactions surpass record 16.99 billion in Jan, value exceeds Rs 23.48 lakh crore
New Delhi, Feb 28: For the first time, UPI transactions in the month of January surpassed 16.99 billion and the value exceeded Rs 23.48 lakh crore, marking the highest number recorded in any month, according to the latest government data.
FM Sitharaman, EU commissioners discuss Economic Cooperation, FinTech, Trade, and Investment
New Delhi, February 28: Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, met with Maria Luis Albuquerque, European Commissioner of Financial Services, Savings and Investments Union, and Piotr Serafin, European Commissioner of Budget, Anti-fraud and Public Administration, in New Delhi.
UPI has potential for other countries to learn: University of Cambridge Business School
New Delhi, February 27: Unified Payments Interface (UPI) has potential for other countries to learn from the experience and get ideas on how to adopt it in their own countries, said Professor Carlos Montes, Lead Innovation Hub, University of Cambridge Business School.Professor Montes is in India to participate in the inaugural NXT Conclave 2025, set for February 28th and March 1st at Bharat Mandapam in New Delhi.During January 2025 around 17 billion transaction has been made through UPI. After the demonstration of UPI today in national capital, Montes said that glad to see the UPI payment system.
Fintech sector contributes 8.7 per cent to UAE GDP: Minister of Economy
Abu Dhabi, February 26: Abdullah bin Touq Al Marri, Minister of Economy, said that the financial technology (Fintech) sector continues to power growth, contributing 8.7 per cent to the UAE's Gross Domestic Product (GDP).