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Smallcase Invests INR 176 Crore and Yields INR 31 Crore Returns
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RBI’s Regulatory Hammer: Impact on Indian Fintech Giants
Three points you will get to know in this article: In a recent development that could spell trouble for fintech firms, the Reserve Bank of India (RBI) has purportedly instructed Visa and Mastercard to prohibit card-based commercial transactions initiated by companies. Interestingly, some fintech players like Enkash, Karbon, and Paymate facilitate card payments for functions such as settling bills with…
Bharat Fintech Summit 2024: Insights into India’s Rapidly Evolving Financial Landscape
Three points you will get to know in this article: The Bharat Fintech Summit 2024, orchestrated by The Digital Fifth in the bustling city of Mumbai, attracted a crowd of 3,000 enthusiastic participants deeply rooted in India’s fintech community. Spanning from February 7 to February 8, the event’s second installment showcased a remarkable lineup featuring 23 engaging speaker sessions, five…
Jio Financial Requests RBI Approval to Transition from NBFC to Core Investment Company
Three points you will get to know in this article: Jio Financial Services (JFS), recently separated from Reliance Industries Ltd (RIL), has formally approached the Reserve Bank of India (RBI) to undergo a transformation from a non-banking financial company (NBFC) to a core investment company (CIC), as mandated by regulatory requirements. The Rationale Behind the Shift Having successfully debuted on…
Indian Startups Raise Over $1.2 Billion in Funding for October
Three points you will get to know in this article: October witnessed a promising surge in investments for Indian startups, aligning with historical patterns. This noteworthy uptick in monthly financial support arrives just as startups within the ecosystem are rallying to navigate through the challenges of funding constraints. Notably, an intriguing aspect is that a substantial one-third of the total…
New-Age Tech Stocks Decline Amid Geopolitical Tensions; Paytm Emerges as Biggest Winner This Week
Three points you will get to know in this article: This week witnessed a downturn in the performance of Indian new-age technology stocks, mirroring the broader market’s decline. The setback was attributed to a combination of mixed Q2 earnings reports from various companies and escalating geopolitical tensions.Within the realm of Inc42’s coverage, 11 out of the 18 new-age tech stocks…
DPIIT-Registered Startups Granted Angel Tax Relief Regarding Shareholder Tax Returns
Three points you will get to know in this article: Amidst the ongoing debate swirling around startups receiving notifications under Section 56(2)(viib), commonly known as the angel tax, and being tasked with presenting income tax returns (ITRs) from their stakeholders for the preceding three years, the Central Board of Direct Taxes (CBDT) has disseminated a circular to its esteemed senior…
Angel Tax Exemptions Granted to Over 8,000 Startups
Three points you will get to know in this article: Since the announcement in 2019 regarding the exemption of angel tax for startups, the Department for Promotion of Industry and Internal Trade (DPIIT) revealed that 8,066 startups, officially recognized by DPIIT, have successfully secured exemption from angel tax. This information was disclosed in response to a Right to Information (RTI)…