Increasingly, this is a scenario being played out across the country. In spite of the large number of financial institutions and banks present across the country, access to financial services has been a huge challenge for a majority of the population.

Of the Rs 205 crore funding, about Rs 128 crore (USD 20 million) was raised as equity and about Rs 77 crore (USD 12 million) as debt in the second round or series B funding, the company said.

Nissan Copper, Fintech Communication, Intercorp Industries, Mahavir Impex and Minal Industries would be among the companies that would face trading suspension from July 12.

Rajan had already made his presence felt at RBI and on the financial reforms front within those two years. He had made the monetary policy sharply focused on consumer price inflation (CPI). His successor will need to decide which ones to follow through.

RBI has introduced new benchmark lending rate formula MCLR to improve transmission of policy rates. Customer can expect the fall but it would dependent on the inflation movement.

With digital technology making greater in-roads into banking, majority of financial institutions have upped their engagement to spot startups in the fintech space.

Global presence and technologically advanced customer expectations has urged the BFSI sector to come out of their traditional ways of customer relationship management to the digital forefront. The modern BFSI scenario has invested in creating and maintaining a solid digital architecture.

Rishi Gupta, MD & CEO, FINO PayTech says each player will bring its own strengths, ultimately benefiting the customer and helping the market evolve. Emerging technologies and business models have been driving the payments space.

Reserve Bank is setting up a multi- disciplinary panel to understand financial technology (fintech) companies and create the right ecosystem for them.

The Business Today-Money Today Financial Awards recognised the top performers across banks, mutual fund and insurance sectors.

Taking the lead is the country's largest bank, the State bank of India (SBI). In a board meeting on Tuesday,  the bank discussed the possibility of acquiring its five associate banks.  But bank has also issued a caveat that the  \"discussion is purely exploratory at this stage and not certain\".

The blurring of lines between banks and non-banking finance companies is setting the stage for a bank-led financial system.

Face-to-face transactions, which were always valued when it came to anything involving money, are now being done over the internet - simply put, digital has taken over.

Mutual funds act as a bridge between investors and markets. We honour fund houses that perform the best over the last one and three years

Robots play with numbers and not emotions, unlike humans. So, can you trust machines over your financial advisor to manage your money?

BT spent time with the four key founders - N.R. Narayana Murthy, Nandan Nilekani, Kris Gopala-krishnan and S.D. Shibulal - who also occupied the CEO & MD position, to know about their life after Infosys and get their views on the opportunities in the current scenario.

This is a book on how the biggest and the fastest technology transition will impact our work and lives.

Payments banks have thrown their hats in the ring to take on an established banking industry on the back of innovations and first-mover advantage. Will the banks be able to counter with equal zeal?

Algorithmic trading or algo trading refers to orders on bourses that are generated using high-frequency, automated execution logic.

Financial inclusion is not just about having a bank account for everyone in the society. It is about creating an ecosystem that enables and encourages people to use financial instruments in their everyday life.