NCLT has approved the merger of IndusInd Bank with Bharat Financial Inclusion

NCLT (National Company Law Tribunal) has approved merger of IndusInd Bank with Bharat Financial Inclusion (BFIL), a microfinance company. The merger is expected to complete within 2-4 weeks. Last year, IndusInd Bank received ‘No Objection’ from Reserve Bank of India, ..

Kotak Mahindra Bank becomes first Destination Bank to launch debit card-based e-mandate on NPCI’s API platform

The Kotak Mahindra Bank (KMB) has become the first Destination Bank to go live with Net Banking and Debit Card-based authentication solution on NPCI’s e-Mandate API platform. The facility will enable its customers to create electronic mandates (similar to the ..

ETMONEY becomes India’s first financial services app to integrate UPI

ETMONEY, India’s largest app for financial services has integrated UPI (Unified Payment Interface) as a payment method on its platform as it looks to double its monthly user base by the end of the year. The integration of UPI will ..

SEFL and Bank of Baroda to co-lend through iQuippo

Bank of Baroda and city-based Srei Equipment Finance Ltd will collaborate to offer joint loans for infrastructure equipment under a new agreement. This collaboration will allow both Srei and Bank of Baroda to cooperate and widen their respective markets and ..

RBI launches a 5G Lab for banking and financial sector

The Institute for Development and Research in Banking Technology (IDRBT), an arm of Reserve Bank of India (RBI), has launched a 5G Use Cases Lab for banking and financial sector. The use of 5G will change a range of technologies ..

PayU acquires Wibmo for USD 70 million

PayU, Digital security and payment facilitator has acquired Wibmo, a US-based financial technology for USD 70 million to assist the company scale-up its business. Under the agreement, Wibmo will continue to serve all of its clients as a wholly-owned subsidiary ..