Displaying items by tag: india

Indian messaging app Hike raised $175 million in funding from global investors this month. This round of funding valued the messaging app at $1.4 billion, cementing Hike's entry into India's coveted "tech unicorn" club. Even so, it was one of Hike's new shareholders that lifted more eyebrows. Tencent, the owner of WeChat and China's most popular messaging app, were among the investors throwing their bets behind Hike. Kapronasia takes a look at possible advantages of this new relationship. 

The recent introduction of offline mobile banking apps in India underlines the determination by both government and private banks to push financial inclusion in India and is a strong signal that India is ready to embrace fintech and innovation to solve complex problems within its banking network.

Published in India Banking Research

The Reserve Bank of India (RBI) has proposed that commercial banks need to institute a Board-approved Cyber Security Policy no later than September 30, in a bid to address the growing number of cyber threats and reported incidents of cyber crime in the banking industry. The RBI set the rules in a letter to bank chief executives this month, with Regional Rural Banks exempt from the change. The use of technology in banks, already an "integral part" of operational strategy, has gained further momentum, hence the need for such guidelines, the RBI said.

Published in India Banking Research

India’s insurance sector is worth $60 billion and has established some solid regulatory models that helped spawn an entire web and mobile driven industry. The main insurance regulator, the Insurance Regulatory and Development Authority (IRDA), played a proactive role by setting boundaries early on in the sector, such as clearly distinguishing between insurance brokers and web aggregators.

Published in India Banking Research

Even with over 40 Acts directly or indirectly pertaining to pertaining to insolvency and bankruptcy, banks in India are still under tremendous pressure due to rising non-performing assets (NPAs). Multiple agencies are involved in handling these situations, with overlapping jurisdictions that creates complexities and delays.

Published in India Banking Research

India's main regulator for capital markets, the Securities Exchange Board Of India (SEBI), has started implementing recommendations from the Special Investigation Team (SIT) appointed by Supreme Court of India to regulate Participatory-notes (P-notes).

Global payments operator Fortumo and India’s Reliance Communications (RCOM) have launched direct carrier billing where RCOM’s customers can purchase digital content and games by charging the payments to their mobile bill or mobile prepaid account. Reliance customers can now enjoy a host of digital entertainment content on the move on their mobile devices, across movies, music, games and live TV, starting from just Rs. 10 (15 cents) for 1 day of access, all by paying through their mobile postpaid bill and mobile prepaid account.

For nearly 30 years, India’s double taxation avoidance agreement (DTAA) with Mauritius came in handy for investors to route money through ‘shell’ companies based out of the island nation. These investors saved on capital gains tax liabilities in Mauritius which does not impose these taxes on off-shore entities. A similar treaty exists with Singapore. As a consequence, India receives half of its FDI from just two countries: Mauritius (34%) and Singapore (16%).

Published in India Banking Research

Predictions are that digital payments will account for 20% of all Chinese retail purchases by 2020, a staggering amount and one that is challenging not only the banks, but China UnionPay and regulators themselves. The China Digital Payments 2016 report looks at how new business models, market entrants and regulations are rapidly transforming China’s gigantic payment industry. 

Published in Webinars

India’s banking regulator, the Reserve Bank of India (RBI), recently released a consultation paper on P2P lending in India. This paper aims at regulating India’s fledgling P2P ecosystem, demonstrating that the RBI is positively besieged with the concerns and realities of this nascent industry.

Published in India Banking Research
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