UK Looks to Strengthen FinTech Ties with India
A UK envoy that includes politicians, central bank officials, and prominent FinTech executives are in India to discuss trade relations that will deepen industry ties between the two nations as the UK prepares for the separation from the European Union. A UK-delegation led Chancellor Philip Hammond that includes Her Majesty’s Treasury FinTech envoy Eileen Burbidge and Bank of England governor Mark Carney along with a number of leaders from banking and financial technology firms are currently in India as a part of a two-day visit as a part of the 9th UK-India Economic and Financial Dialogue....
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India’s central bank, the Reserve Bank of India (RBI), has reportedly informally asked banks to cut ties with cryptocurrency exchanges and traders. Some banks in India have limited their exposure to the crypto market and some plan to stop all crypto-related transactions. RBI Asking Banks to Cut Ties With Customers Dealing With Cryptocurrencies The Indian central bank has informally urged lenders “to cut ties with cryptocurrency exchanges and traders,” Reuters reported Thursday, citing three unnamed sources. The news outlet quoted a senior bank executive as saying: The....
India’s prime minister, Narendra Modi, says an Indian central bank digital currency will strengthen the digital economy. The digital rupee will also revolutionize the fintech sector by creating new opportunities and lessening the burden of handling, printing, and the logistics of cash management, the prime minister reportedly explained. India’s Prime Minister Modi Sees Benefits of Digital Rupee Indian Prime Minister Narendra Modi reportedly highlighted the potential benefits of India’s central bank digital currency (CBDC), the digital rupee, on Wednesday while....
Over 180 Fintech startups were analyzed to create this report, most of whom seem to focus on the payment sector in general. Fintech is a booming industry all over the world, and those signs are becoming apparent in India as well. With most of the startups in the region focusing on payments, and over US$1.3bn invested over the past three years, things are looking good. A recent study by Zinnov, a leading management consulting firm, shows the Fintech situation in India is well worth keeping an eye on. The majority of funding has been raised in the past three years, and the industry attracted....
Britain’s top financial regulator, the Financial Conduct Authority (FCA), says the U.S. and U.K. will deepen ties on crypto regulation. “In the past, innovative firms would have been pleading for less regulation. Now they understand and appreciate that rules are there to help provide certainty,” said the British regulator. US and US....
In 2014, Indian prime minister Narendra Modi outlined a vision for a "Digital India," a place in which all citizens in all parts of the country are connected, informed and part of a global economy. Other hallmarks of this new India would be a transparent government with strong ties to its citizens where government services could be accessed from mobile devices. EPaisa, a free point-of-sale app, has become India's first mobile point-of-sale provider to integrate bitcoin as a payment option, becoming a part of this new, Digital India. "To digitize India, you need to digitize the point of....