The head of India’s central bank is warning about AI use in financial services. Reserve Bank of India Governor Shaktikanta Das said Monday (Oct. 14) that the increased usage of artificial intelligence (AI) and machine learning in the financial world can trigger stability risks, requiring proper risk...
Paytm won approval from India’s finance ministry to invest in its payment services operation. The company announced the approval Wednesday (Aug. 28) in a disclosure posted to its website. Paytm has faced scrutiny this year after being ordered to close its payments bank in January....
The Reserve Bank of India (RBI) plans to launch a technology platform designed to enable frictionless credit, especially for small- to medium-sized businesses (SMBs). The RBI began piloting the platform — which it plans to name the “Unified Lending Interface (ULI)” — in 2023 and...
Money transfer firm Wise is reportedly hoping to tap India’s $32 billion remittance market. To that end, Wise plans to begin signing up new customers in the world’s most populous nation after pausing that side of its business in the country, company officials told Bloomberg News Monday (Aug. 12)....
September 09, 2022
In India, a broadening by the Reserve Bank of India (RBI) of the ways and means through which citizens can send money abroad will open the floodgates to FinTechs and other businesses dealing with cross-border payments. Reeju Datta, co-founder of Cashfree Payments, told PYMNTS’ Karen Webster that the central bank’s Liberalized Remittance Scheme (LRS) will […]
January 28, 2019
Barring any reprieve, Feb. 1 marks a sea change for India’s eCommerce sector. New rules may hobble giants like Amazon and Flipkart from offering discounts or investing in nascent marketplaces. Here’s why...
November 23, 2017
Anniversaries are a time for reflection, and one year into India’s grand de-monetization drive, the results are mixed. Counterfeiting activity has simply moved to embrace the new notes. GDP is...
July 13, 2017
Over the last 18 months, India has moved full-speed ahead from a nearly entirely cash-based society to one with ambitions of being totally cashless. The most public — and most famous...
October 14, 2024
The head of India’s central bank is warning about AI use in financial services. Reserve Bank of India Governor Shaktikanta Das said Monday (Oct. 14) that the increased usage of artificial intelligence (AI) and machine learning in the financial world can trigger stability risks, requiring proper risk mitigation practices by banks. “The heavy reliance on AI can […]
August 28, 2024
Paytm won approval from India’s finance ministry to invest in its payment services operation. The company announced the approval Wednesday (Aug. 28) in a disclosure posted to its website. Paytm...
August 26, 2024
The Reserve Bank of India (RBI) plans to launch a technology platform designed to enable frictionless credit, especially for small- to medium-sized businesses (SMBs). The RBI began piloting the platform...
August 12, 2024
Money transfer firm Wise is reportedly hoping to tap India’s $32 billion remittance market. To that end, Wise plans to begin signing up new customers in the world’s most populous nation after pausing that...
