BharatPe Current Affairs, GK & News

BharatPe Gets Nod for ePayment Aggregator Licence

Fintech unicorn BharatPe recently announced that it has received in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator. The approval was granted to the company’s wholly-owned subsidiary, Resilient Innovations Private Ltd. This comes as a relief for BharatPe, which has been facing controversies and high-profile exits since last year, ..

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BharatPe Corporate Governance Issue

Co-founder and managing director of BharatPe, Ashneer Grover, resigned from company, days after BharatPe terminated the services of his wife and head of controls, Madhuri Jain Grover, over alleged financial irregularities. Highlights Following the resignation of Ashneer Grover, company noted to reserves the right to take action on the basis of report findings. Ashneer Grover resigned, ..

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PMC Bank amalgamation scheme

On January 25, 2022, the Reserve Bank of India (RBI) announced that, government has notified a draft scheme for amalgamation of Punjab & Maharashtra Cooperative (PMC) Bank with Unity Small Finance Bank (SFB). Highlights Final scheme envisages to start pay-outs for depositors with around Rs 5 lakh in balance within one year, as opposed to ..

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Rajnish Kumar joins BharatPe as Chairman

Former chief of State Bank of India, Rajnish Kumar, has joined the Board of BharatPe as chairman. Key Points Rajnish Kumar will get involved in defining the short-term and long-term strategies of companies. He will also work closely with other Board Members and chief experience officer (CXOs) on key regulatory and business initiatives. BharatPe-Centrum Capital ..

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Centrum to takeover PMC Bank

Reserve Bank of India (RBI) cleared proposal to takeover of Punjab and Maharashtra Cooperatives Bank (PMC Bank) by a consortium of non-bank lender Centrum Financial Services & fintech startup BharatPe. Background This decision was taken in the backdrop of collapse of Punjab & Maharashtra Cooperatives Bank. This state cooperative lender was on the verge of ..

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