How is blockchain changing/revolutionizing the fintech industry?
Inside This Article Gone were the days when blockchain technology was only associated with cryptocurrency. Now, many industries, like healthcare, insurance, logistics, medicine, entertainment, etc., are trying to harness the advantages of this new and evolving technology, and fintech, as an evolving industry that entirely depends on technology, does not want to lag in any […]
Recovery mechanism and tools in NBFCs India
Inside This Article Introduction The Reserve Bank of India often issues master directions and notifications regarding the working of NBFCs. Hence, it helps NBFC adhere to the public interest and safeguards itself when borrowers fail to repay and restore their financial assets in the event of the same. The Ministry of Finance, in its Budget Speech dated […]
What is a Payment Aggregator, what are the benefits, How it works, and How to get registered with RBI?
Inside This Article Introduction Payment or merchant aggregators are third-party service providers allowing payment through several gateways without a merchant account with a bank or card association. PayPal was the first to offer such a service in 1998. Traditionally this has been quite a manual and muddled process to negotiate with each bank, card provider, and other financial […]
Know these 7 NBFC trends to keep pace with growth
Inside This Article Trends in NBFCs are changing simultaneously with the technology change. NBFCs have been increasing for the past few years and have reached an all-time high growth. According to a publication by RBI, their credit intensity measured by the credit/GDP ratio has increased from 8.6 in 2013 to 13.7 in 2021. Moreover, compared to Scheduled […]
How to create a 5-year Projected Business plan – NBFC
To run and execute any business’s 5-year plan in its arsenal is as crucial as having a product— it helps teams and investors understand and account for the business’ core idea and prove its metal. However, employing an actionable one takes time, and future uncertainty makes it even harder to lean on it. So efficacy […]
How to set up your NBFC- Registration, Operational manual, Licensing, and more
Inside This Article NBFCs (non-banking financial companies), unlike other banking institutions they don’t adhere to banking regulations but are regulated by Reserve Bank of India and are registered institutes under the companies act 1956 or Companies Act 2013. In India, there are mainly two kinds of NBFC: Depositing accepting NBFCs – regulated by RBI Non-deposit […]
7 steps to start your own NeoBank from scratch
Inside This Article Neobanks in India— online banks, internet-only or no-branch banks. With the catered and personalised customer solutions, in the next five years, the global NeoBank market is expected to grow at 47.1% and hit a $333.4 billion market size (CAGR). Along with seamless 24/7 remote services, NeoBanks are easy to set up due […]
What role does VCFO play in a finance company?
This covers: Advisory on Lending Portfolio MIS Reporting Expert Regulatory Advisory Drafting Updating and Responsive to RBI notifications Moreover, a Virtual CFO provides the required tools, support, solutions, and system to build your dream business and delight your clients with bespoke financial solutions. 5. Boosts up profit margins and cash flow A Virtual CFO can […]
Recent developments to improve the NBFC Ecosystem by RBI
Inside This Article Introduction After the pandemic has derailed the growth in many sectors, NBFCs are still lucrative and surging with their accessible and affordable financial services. The proactive RBI amendments also have played a significant role in harmonising NBFCs with the rules of the banking sector— making it seamless and safeguarding the customer’s interest. […]
How ‘Buy Now Pay Later’ is changing the way customers spend
Inside This Article The data speaks for itself! Buy Now, Pay Later (BNPL) solutions are predicted to reach 20527.234 billion Rupees in revenue by 2025, expanding at a rate of 40% annually. People started paying more with their own money because they didn’t want to take on debt during uncertain economic times. But there are […]
