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Retail FX
Indian Regulator Calls Prop Trading Platforms “Unauthorised”
2024-11-07T07:28:21.874+02:00
SEBI pointed out that these platforms are violating local securities market laws.
The agency did not ban the platforms but noted that investors must engage with them at their “own risk.”
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Retail FX
Two Prop Firms and ThinkMarkets Added to India's Central Bank Warning List
2024-10-23T09:11:10.360+02:00
The prop trading companies mentioned are FundedNext and Smart Prop Trader.
According to the central bank, these entities lack authorization to offer FX trading in the country.
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Payments
Revolut Secures Prepaid Card Authorization in India, Plans 2025 App Launch
2024-09-17T13:44:59.973+02:00
The fintech firm secured RBI authorization this year for prepaid cards and wallets.
The company is increasing its global workforce by 40% to support its expansion.
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FinTech
Mastercard Takes On Fraud with Biometric Passkey Launch in India
2024-08-29T12:28:04.007+02:00
The service replaces traditional passwords and OTPs with fingerprints or facial scans.
It uses tokenization to protect payment and biometric data, reducing the risk of unauthorized access.
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CryptoCurrency
Binance Secures 19th Global Approval with Indian AML Registration
2024-08-15T09:33:47.329+02:00
India’s position in crypto adoption indicates its significance for Binance’s global expansion.
The compliance program, including AML, CFT, and KYC, is now available to Indian users.
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FinTech
Adyen Expands in India with RBI Approval for Online Payment Aggregation
2024-08-15T08:00:44.927+02:00
The Bengaluru hub will support local merchants and tap into India's tech talent.
The platform supports credit, debit, and local payment methods like UPI for transactions.
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FinTech
India’s $32 Billion Remittance Market Attracts Wise as It Lifts Transaction Cap
2024-08-12T07:10:31.350+02:00
The Reserve Bank of India has granted Wise a new license, allowing higher remittance limits.
India’s $7 trillion digital payments market by 2030 drives fintechs to navigate complex regulations.
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CryptoCurrency
Binance Pushes Back against India's $86 Million Show Cause Notice: Report
2024-08-06T20:58:01.048+02:00
The exchange is facing multiple legal challenges in India, including a previous $2.2 million fine for anti-money laundering violations.
The tax authorities claim Binance earned over $476 million in transaction fees from Indian customers.
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Retail FX
Exclusive: OctaFX Calls Allegations by India “Unsubstantiated” as Authorities Seize $9.6M
2024-08-01T12:07:33.992+02:00
Local authorities raided the premises of several offices of OctaFX.
The broker allegedly earned $119.5 million from its Indian operations.
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FinTech
India's Cybersecurity Crisis: Ransomware Takes 300 Small Banks Offline
2024-07-31T22:40:41.051+02:00
The attack has affected transaction processing among lenders.
Despite the disruption, the affected banks represent only about 0.5% of India's payment system volumes.
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Payments
UPI One World: India's Digital Payments Gateway Welcomes the World
2024-07-22T18:02:30.820+02:00
India launches UPI One World, allowing foreign travelers to use UPI payments.
UPI One World enables international visitors to pay via UPI using their own currencies.
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CryptoCurrency
WazirX Halts Withdrawals after $235 Million Breach Linked to Tornado Cash
2024-07-18T10:23:00.157+02:00
ZachXBT reported the attacker still holds over $104 million, mostly in Shiba Inu.
The newly transferred funds, which included Tether, have already been swapped.
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Exchanges
Bitget Targets India Expansion with Crypto Regulatory Compliance Push
2024-07-03T10:18:40.904+02:00
The crypto exchange is currently in talks with the local market watchdog.
India is one of the fastest adopters of digital assets in the world.
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Payments
RBI Greenlights Hitachi Payment Services for Online Payment Aggregation
2024-06-27T10:31:53.794+02:00
A new chapter in India's digital payment revolution.
This authorization allows the company to offer an expanded suite of payment options.
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Pedro Ferreira
Retail FX
India Might See Derivatives Trading Similar to Lottery: Report
2024-06-21T11:00:02.597+02:00
The government might label futures and options trading gains as “speculative income.”
There might be a 30 percent tax deductible at source for such trading transactions.
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CryptoCurrency
Binance Paves Its Way to Re-enter India with a $2.25 Million Fine
2024-06-20T08:13:12.990+02:00
The exchange was previously blacklisted by the local agency for anti-money laundering rule violations.
It already registered itself with the local FIU last May.
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Payments
Rupee Revolution? India's UPI Eyes International Expansion
2024-06-07T18:00:00.000+02:00
The RBI and NIPL are collaborating to establish UPI in 20 countries by 2028-2029.
India's UPI aims to reshape the global payments game.
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CryptoCurrency
Binance, KuCoin Cleared by India's Anti-Money Laundering Regulator
2024-05-10T17:14:40.157+02:00
KuCoin paid a penalty of $41,000 and resumed operations.
Binance is waiting for the FIU to decide on the penalty.
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Payments
From Rupees to Rand: India's UPI Makes a Play for Africa
2024-05-03T18:00:00.000+02:00
New partnerships, new beginnings.
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Retail FX
Exclusive: OctaFX Denies Money Laundering, "Baseless" Chart Manipulation Accusations
2024-04-25T08:13:44.854+02:00
The Indian offices of the broker were raided earlier this month.
OctaFX assured Indian clients that "deposits and withdrawals are processed securely in the usual mode."
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Payments
Unlimit Jumps into Indian Payments Arena, Clinches RBI Approval
2024-04-25T02:01:00.000+02:00
By 2024, digital commerce in India is projected to dominate, with transactions reaching US$211.30 billion.
The firm's entry into the Indian market has followed its recent expansion in Africa.
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Thought Leaders
India Catching Up on China Investment-Wise: What is Not Right?
2024-04-24T10:34:00.829+02:00
India’s tax load needs easing.
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CryptoCurrency
Binance Mulls Re-Entering India by Paying $2 Million Fine: Report
2024-04-18T10:36:25.114+02:00
The exchange was forced to exit the country for non-compliance.
The Indian authorities blocked nine crypto exchanges, including Binance, in January.
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Payments
The Tug-of-War Over Rupees: Why India Wants to Break the PhonePe-Google Pay Duopoly
2024-04-17T18:00:00.000+02:00
Can India foster an environment that encourages domestic innovation?
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Payments
How UPI's Disruption Paves the Way for India's Digital Payment Dominance
2024-04-12T18:00:00.000+02:00
Is the great wallet war upon us?
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