fintech players

A venture by Indian-American entrepreneur Sankaet Pathak and Trump's son Eric Trump has vaulted into prominence with a Pentagon-backed push into battlefield robotics

Former Microsoft CEO Steve Ballmer is furious after losing $60 million to fintech founder Joseph Sanberg's Aspiration Partners. Sanberg defrauded investors with false environmental claims. Ballmer's reputation suffered, leading to a public campaign against him and an NBA investigation. Sanberg's plea deal and sentencing are pending.

NASA's Artemis II mission successfully sent astronauts around the moon using Boeing's rocket. However, the Trump administration is now seeking cheaper alternatives from competitors like SpaceX for future lunar endeavors. This move puts pressure on NASA's leadership to deliver on ambitious moon landing goals by 2028, despite the established but costly nature of current programs.

A chartered accountant from Delhi has been identified as the mastermind of a transnational racket that defrauded thousands, siphoning off Rs 900 crore in a year. The syndicate used a Dubai-based fintech platform and shell companies to move funds offshore, converting them into cryptocurrency to evade detection.

Joan Laporta has accused presidential rival Victor Font of exploiting Lionel Messi’s name ahead of the March 15, 2026 FC Barcelona election. The debate intensified after Xavi Hernandez claimed Laporta stopped Messi’s possible return in 2023. Font promises to rebuild ties with Messi, while Laporta insists Barcelona should focus on its current project under Hansi Flick.

Last year, over 70 new fund-management entities set up shops in GIFT City, taking the total to 202. But where is the qualified workforce to run them?

Jazeera Airways has launched a groundbreaking 'Fly Now, Pay Later' option, becoming the first Kuwaiti airline to offer interest-free installment payments for flights. This strategic partnership with deema aims to enhance travel affordability and accessibility for a wider range of passengers. The move signifies a significant step in the region's digital aviation transformation.

The International Financial Services Centre (IFSC) at GIFT City in Gandhinagar is set to attract more players — both global and domestic — with the Union Budget on Monday providing government’s support for the development of world-class Fin-Tech (financial technology) hub at the IFSC. The FM also announced a slew of tax incentives for the IFSC.

Hyderabad authorities have busted a massive Rs 13,000 crore illegal online gaming network. Fintech entrepreneur Pankaj Kumar was arrested for allegedly facilitating fraudulent KYC verifications for shell firms, enabling illicit fund movements. The crackdown targets online gaming platforms and financial intermediaries, with over Rs 100 crore frozen and multiple arrests made.

Hyderabad's GST intelligence wing has busted a massive Rs 5,000 crore illegal gaming-fintech syndicate. Operating through online platforms and a complex network of shell firms, the group allegedly evaded GST by obscuring money trails. Key players and their alleged methods of circumventing regulations are now under intense scrutiny.

Earlier this week, RBI issued an advisory clarifying that non-bank prepaid payment instrument (PPI) issuers cannot load their wallets and cards from credit lines or preset borrowing limits. Such practice, if followed, should be stopped immediately and any non-compliance will attract penal action, the advisory said.

Indian fintech will touch $1 trillion in assets under management (AUM) and $200 billion in revenue by 2030, according to estimates by VC firm Chiratae Ventures and EY. A report by the two firms said the growth will be driven by the digital lending space that is expected to grow to $515 billion by 2030.

The state government plans to shortly announce a dedicated policy to promote the fintech industry with the dual aim of giving a thrust to the sector and garnering revenue in the form of direct and indirect taxes, top sources said.

Though India has more than 70 fintech startups, KPMG Fintech100 report says that China dominates the list

Mundra, however, noted that banks have still have anMundra, however, noted that banks have still have an opportunity to capitalise on these fintechs as once they grow in size they will need more capital support, which their present VC-funded does not support.

Reserve Bank of India (RBI) governor Shaktikanta Das has said that the central bank’s focus is on encouraging innovation and providing an enabling environment, but it makes a clear distinction between regulated and unregulated entities. The statement by the central bank is seen as a signal to fintech players that they can provide loans only if they have a lending licence.

The chairman of the city-based cooperative Cosmos Bank, Milind Kale, has said cooperative banks must quickly and flexibly adopt next-generation, tech-enabled banking and lending practices to keep pace with the rest of the banking industry and the fintech sector.

Fintech seeks collaboration with banks and support in the Union Budget 2024-25. Considerations include a regulatory framework, tax incentives, infrastructure investments, and affordable interest rates. Key voices highlight capital access, R&D, knowledge sharing, and seamless transactions. Fintech’s explosive growth is disrupting traditional banking models and enhancing financial inclusion and economic progress.

RBI had sought the industry’s recommendations on what would help the micro- small and-medium industry come out of challenging times.

The Reserve Bank of India (RBI) has taken action to address the concern of unsecured and personal loans leading to potential problems. The RBI's worry stems from bank lending to non-banking financial companies (NBFCs), who then offer unsecured loans. Additionally, the lengthening tenure of consumer loans and inadequate security cover have raised concerns. To slow down growth in these segments, the RBI has increased the risk weight on personal loans and credit card outstanding.

Gaining momentum from its inherent entrepreneurial spirit, Gujarat has taken a lead in boosting the startup ecosystem. In yet another major leap, the Gujarat International Finance Tec-City (GIFT City) will now house the country's largest startup space and an international fintech institute, with a built-up area of up to 7 lakh square feet, according to GIFT City sources privy to the development.

With the European Union (EU) implementing General Data Protection Regulation (GDPR) from May 25, awareness of individual information security has increased among those active on social media. According to industry players and experts, deleting customer data is not possible under current laws for fintech players. The RBI and income tax (I-T) regulations mandate that all financial institutions maintain customers’ records for a period of seven-10 years. The mandated period goes up to 15 years or more for suspicious financial transactions.