fintech players

India's enduring love for gold spans centuries, evolving from tradition to modern investment. Women hold vast reserves, and the market is set for significant growth. Digital gold and ETFs are gaining traction alongside traditional jewellery. Gold remains a symbol of prosperity, security, and auspiciousness for Indians across generations.

A venture by Indian-American entrepreneur Sankaet Pathak and Trump's son Eric Trump has vaulted into prominence with a Pentagon-backed push into battlefield robotics

Former Microsoft CEO Steve Ballmer is furious after losing $60 million to fintech founder Joseph Sanberg's Aspiration Partners. Sanberg defrauded investors with false environmental claims. Ballmer's reputation suffered, leading to a public campaign against him and an NBA investigation. Sanberg's plea deal and sentencing are pending.

NASA's Artemis II mission successfully sent astronauts around the moon using Boeing's rocket. However, the Trump administration is now seeking cheaper alternatives from competitors like SpaceX for future lunar endeavors. This move puts pressure on NASA's leadership to deliver on ambitious moon landing goals by 2028, despite the established but costly nature of current programs.

The International Financial Services Centre (IFSC) at GIFT City in Gandhinagar is set to attract more players — both global and domestic — with the Union Budget on Monday providing government’s support for the development of world-class Fin-Tech (financial technology) hub at the IFSC. The FM also announced a slew of tax incentives for the IFSC.

Earlier this week, RBI issued an advisory clarifying that non-bank prepaid payment instrument (PPI) issuers cannot load their wallets and cards from credit lines or preset borrowing limits. Such practice, if followed, should be stopped immediately and any non-compliance will attract penal action, the advisory said.

Indian fintech will touch $1 trillion in assets under management (AUM) and $200 billion in revenue by 2030, according to estimates by VC firm Chiratae Ventures and EY. A report by the two firms said the growth will be driven by the digital lending space that is expected to grow to $515 billion by 2030.

The state government plans to shortly announce a dedicated policy to promote the fintech industry with the dual aim of giving a thrust to the sector and garnering revenue in the form of direct and indirect taxes, top sources said.

Though India has more than 70 fintech startups, KPMG Fintech100 report says that China dominates the list

Mundra, however, noted that banks have still have anMundra, however, noted that banks have still have an opportunity to capitalise on these fintechs as once they grow in size they will need more capital support, which their present VC-funded does not support.

Reserve Bank of India (RBI) governor Shaktikanta Das has said that the central bank’s focus is on encouraging innovation and providing an enabling environment, but it makes a clear distinction between regulated and unregulated entities. The statement by the central bank is seen as a signal to fintech players that they can provide loans only if they have a lending licence.

The chairman of the city-based cooperative Cosmos Bank, Milind Kale, has said cooperative banks must quickly and flexibly adopt next-generation, tech-enabled banking and lending practices to keep pace with the rest of the banking industry and the fintech sector.

Fintech seeks collaboration with banks and support in the Union Budget 2024-25. Considerations include a regulatory framework, tax incentives, infrastructure investments, and affordable interest rates. Key voices highlight capital access, R&D, knowledge sharing, and seamless transactions. Fintech’s explosive growth is disrupting traditional banking models and enhancing financial inclusion and economic progress.