Indian start-ups might look at raising funds through the more liberalised external commercial borrowing (ECB) route to spend on marketing, setting up offices in the US and Europe, and expanding their business. This would also give them access to debt money, a crucial factor at a time when they’re…
Tag: RBI
Airtel rolls out India’s first payments bank
The first payments bank in the country has gone live. Airtel Payments Bank , which has rolled out a pilot project in Rajasthan, launched with the promise of being a disruptor, offering 7.25% interest on savings bank accounts. This is the highest return offered by a bank in India, with most lender…
Currency Switch Impact | RBI doubles balance limit for digital wallets to Rs 20k, relief for small merchants
With the public facing cash crunch, RBI on November 22 introduced special dispensation for small merchants and doubled the limit of semi-closed Prepaid Payment Instruments (PPIs) to Rs 20,000 to facilitate digital transactions. To meet the transactional needs of the public through digital means, …
Currency Switch Impact | SME sector to benefit as banks will lend more
The government has managed to cut down the transportation time of cash from printing to the main distribution centres from 21 days to six and is using all modes of transport, including helicopters and Indian Air Force planes, to move the cash quickly. The government is hopeful that the situation …
Why small finance faces a big wipeout
The media generally believes that demonetisation has been a political success, that it has put opposition parties on the back foot, and won the hearts of millions who think Modi is the only politician willing to take tough decisions to hit black money. Middle-class folks standing in long queues m…
Currency Ban Impact | RBI issues 25-point FAQ explaining Rs 500-1000 note move
Faqs on withdrawal of legal tender character of the Old High Denomination (OHD) Bank notes. Q: Why is this scheme? A: The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even though no security featu…
DIPP notifies 100% FDI in more financial services
The commerce and Industry Ministry notified 100 percent foreign direct investment in ‘other financial services’ carried out by NBFCs. The move will help attract foreign capital into the country. “The government has liberalised its FDI policy in Other Financial Services and non-b…
RBI relaxes foreign investment norms in start-ups & fin cos
The Reserve Bank of India (RBI) on October 20 relaxed foreign investment norms in financial services firms, startups and in investments by foreign regulated capital investors. The RBI has allowed 100% foreign investment through automatic route in financial services other than banks or insurance c…
Monexo to expand P2P lending business in India
MUMBAI: Hong-Kong-based Monexo Innovations, the latest entrant in the Indian peer-to-peer lending space, plans to raise about $10 million by December 2016 to scale up its business in India and South East Asian countries. “We are looking to raise about $10 million by December and talks are i…
Beneficiary of VC fund scheme for Scheduled Caste (SC) Entrepreneurs launches product
Shripad Yesso Naik, Minister of State (I/C) for AYUSH launched Elixir for Life, an Ayurvedic Proprietary Medicine at a function. Giriraj Singh, Minister of State for Micro, Small and Medium Enterprises was the Special Guest. This product has been produced by a beneficiary of the Venture Capital F…