The Business Support Suite is a full stack offering that consolidates operations such as partner management, fees computation, partner settlement, billing and dispute management, for a wide set of transactions, onto a single platform. In 2020, BancNet processed a record one billion transactions through its platform, significantly contributing to the growth of the country’s digital payments economy.
Nivesh, a digital-first platform today announced that it saw 100% growth in investments from tier-II & III cities. The company said the pandemic has increased the adoption of the platform and even its partner base has jumped about 150% to 2,000 in the last one year.
Many smaller NBFCs are likely to enter the estimated Rs 80,000-crore short-term funding market, hitherto the preserve of large entities such as Bajaj Finance, IIFL, and JM Financial. To be sure, the IPO financing market might shrink after the Rs 1-crore limit per borrower kicks in on April 1.
The bulk of the lenders filling up the rosters of prominent P2P platforms are return-hungry retail investors and traders with surplus cash flows. Low fixed-income returns prompting these high net worth individuals and family offices are writing large cheques favouring borrowers on these platforms.
The 'Razorpay TokenHQ' will work across all major card networks including Mastercard, RuPay and Visa, and almost the entire base of five million businesses using Razorpay's services will be ready to support tokenised card transactions, a statement said.
He said BOI Managing Director and Chief Executive Officer A K Das opened the branch in the presence of Field General Manager A K Jain, Zonal Manager Vasudev, Branch Manager Sangeeta and various local dignitaries and customers.
The RBI’s guidelines, which went into force this month, have disallowed recurring card payments without a one-time registration.
BNPL is a credit option that gives customers at storefronts and on ecommerce pages the option to defer payments free of cost or to convert the transaction value into equated monthly installments (EMI). The facility is provided by financiers even to those without credit cards.
In the year-ago fortnight ended October 9, bank advances were at Rs 103.43 lakh crore, and deposits were at Rs 143.02 lakh crore, according to RBI's Scheduled Banks' Statement of Position in India as on October 8, 2021 data, released on Thursday.
The capital position of banks would be reviewed in the next quarter, and depending on the requirement, the infusion will be made to meet the regulatory needs. In the current fiscal so far, all 12 public sector banks have posted a profit, which is being ploughed back to bolster the balance sheet of the banks, sources said.
Elara Capital sees YES Bank profit at Rs 256.80 crore for the quarter on a 21.8 per cent YoY fall in NII at Rs 1,542.40 crore.
On Wednesday, the company’s top management said that profits had fallen in July-September (year-on-year) on account of a contraction in the loan book and a higher rate of taxation.