RBI issues draft norms for offline payment aggregators, moots ₹15-cr net worth
The second circular covers revisions and updates to KYC and due diligence of merchants, operations in escrow accounts, etc, and are intended to further strengthen the payment ecosystem, the central bank said.

RBI mandates regulatory approval for PoS providers to continue operations
Mumbai : The Reserve Bank of India (RBI) has proposed that non-banks offering physical point of sale services (PoS) must notify the regulator of their intent to seek authorization within 60 days, and then submit their application by 31 May 2025, for approval to continue operations.

RBI mandates offline payment aggregators to verify KYC for merchants

In the draft guidelines published Tuesday, the banking regulator outlined KYC procedures for small and medium-sized merchants. It said, a PA will need to undertake Contact Point Verification (CPV) and duly verify the bank account in which the funds of small merchants are settled. 

Analysis. Chandra Shekhar Ghosh: Accidental banker, incidental businessman
Bank licences hold immense sanctity across the world and particularly so in India. The regulator has been eternally picky on who should be in the business of banking. In 2014, when Bandhan Financial Services was awarded the bank licence, it was seen as a mark of validation to the then largest microfinance player’s success and capabilities in the sphere of financial inclusion. That SKS Microfinance (now Bharat Financial Inclusion) whose application for small finance bank was subsequently rejected, further cemented the confidence in Bandhan.

NBD Emirates, Mizuho Bank eye KKR’s stake in Avendus Capital
Japan’s Mizuho Bank and Dubai’s government-owned NBD Emirates are frontrunner to take over KKR’s stake in Avendus Capital. The two foreign investors are said to be at advanced stages of due diligence and are expected to submit their bids in the next 2 – 3 weeks. The deal is said to be valued at approximately $430–450 million (₹3,500–3,750 crore), which is slightly lower than KKR’s earlier anticipated valuations of $500 million. Nomura is said to have been engaged to handle the mandate.

Larger banks may look at securitisation route to unlock liquidity
Larger banks may explore securitisation in the current financial year to unlock liquidity and support loan growth in the backdrop of deposit growth continuing to lag credit growth. So far, non-banking finance companies, including housing finance companies, small finance banks and some small banks have tapped the securitisation route whenever they faced a situation where resource mobilisation has not kept pace with asset creation.

Earn up to 9.4% FD rate: Best fixed deposit returns! Check out these corporate FDs offer
Corporate fixed deposits (FDs) are currently offering attractive interest rates on tenures up to 5 years. FDs issued by housing finance companies and non-banking financial companies fall under the corporate fixed deposit category. Corporate fixed deposits yield better returns than most bank fixed deposits. Take a look at these top 5 corporate FDs in April 2024:

IIFL Finance plans Rs 1,272-crore rights issue
IIFL Finance to raise $152 million via rights issue amid ban on gold loans
The Indian Express

Paytm gets NPCI nod for user migration to new UPI IDs
Paytm owner One97 Communications (OCL) on Tuesday received approval from the National Payment Corporation of India (NPCI) to start the user migration from existing Paytm Payments Bank UPI handle to new Payment System Provider (PSP) bank handles. 

Indian consumers vulnerable to illegal loan app scams
Bengaluru: It’s alarming to note that one-third of high-confidence customers in India have limited knowledge about their digital loans, and lack understanding on how to detect illegal lending apps, as revealed in a report by Fintech Association for Consumer Empowerment (FACE).

Fintech start-up RING raises ₹100-cr debt from Trifecta Capital
 

Paytm clarifies status of licensing process amid recent speculations
In a blog published on its website Paytm has issued a clarification on reports that speculated on the deferral of Paytm Payment Services Limited's (PPSL) license application and potential penalties.

After BSE’s market share gains, NSE ups its game
In the past year, the Bombay Stock Exchange (BSE) has seen stellar turnaround in its fortunes. From a paltry market share of 0.1% in the future and options (F&O) market, it has now risen to 7.4%.

What drives crypto HODLers despite volatility, uncertain regulations, high taxes
“The big money is not in the buying and the selling but in the waiting''. All long-term stock market investors will relate to this famous quote by Charlie Munger too well. But, this investing adage is not limited to just investors in the securities markets.

Small-cap mutual funds’ assets soar 83% to Rs 2.43 lakh cr in FY24 on retail investor boom
New Delhi: Influx of flows, upsurge in retail investors’ participation and bullish market conditions have boosted the assets for the small-cap mutual fund category to Rs 2.43 lakh crore mark at the end of March 2024, marking an 83 per cent surge compared to the previous year.

Modest rise in net SIP inflows in FY24 owing to jump in redemptions by 54%
Mutual funds (MFs) raked in Rs 87,971 crore net SIP inflows in FY24 compared to Rs 83,873 crore in 2022-23 (FY23).

Why this balanced advantage fund is a useful addition amidst rough markets
After a prolonged rally, markets have turned volatile in recent weeks. Concerns over excess valuations, the Israel-Iran geopolitical tension, rising crude oil prices, and the possibility of the US Federal Reserve delaying rate cuts resulting in increasing bond yields have played a role in this disruption. The outcome of the general elections is another cause for market anxiety.

Mutual Fund folios nearly double in last five years, driven by retail investors
 

AMCs likely to report strong gains in Q4FY24 on back of AUM growth
Although net inflows into Equity Mutual Funds deteriorated month-on-month (M-o-M) in March 2024 to Rs 22,576 crore (excluding Hybrid), down 15 per cent M-o-M (up 12 per cent Y-o-Y), asset management companies (AMCs) had a great year with robust growth in assets under management (AUMs). AMCs are likely to report strong PAT growth (30-40 per cent Y-o-Y) in Q4FY24 on the back of AUM growth.