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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Hit a regulatory bump? Interministerial panel set up to address fintech troubles
inter-ministerial committee to address issues being faced by the country’s fintech industry that has run into multiple regulatory hurdles over the past few years.
The committee comprises representatives from the Department of Financial Services, Department of Economic Affairs, NITI Aayog, Ministry of Electronics & Information technology (MeitY), Department for Promotion of Industry and Internal Trade (DPIIT), Department of Economic Affairs (DEA), the Reserve Bank of India, markets regulator Sebi and founders of fintech firms Billdesk, Acko General Insurance, Groww, and Jupiter.
ET has reviewed an order for the same issued by the financial services department on March 17.
The development comes after the finance ministry had detailed discussions with fintech industry representatives on January 7, when they had flagged the need to address several regulatory issues that came in the way of technological innovation.
The government is keen that there needs to be a balance between innovation and regulation.
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The committee will analyse the growth of the fintech sector and its contribution to the BFSI ( banking, financial services and insurance) sector, understand the issues and challenges, and take stock of the regulatory and policy developments.
Post the deliberations, it will submit its report within three months from the date of the first meeting.
The development assumes significance as there has been an overall slowdown in funding for Indian startups with risk investors turning skittish globally. For
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Subscribe to enjoy similar stories.PI Industries stock has fallen 11% over the past two trading sessions as pressure in its custom synthesis and manufacturing (CSM) business persisted. CSM revenues have now declined year-on-year for five consecutive quarters. The segment, which contributed about 75% of the agrochemicals maker’s FY26 revenue of ₹6,714 crore, saw revenue fall 16% year-on-year.Weak demand and customers’ shift to just-in-time procurement continued to weigh on the CSM business, where revenue declined 15% in the March quarter (Q4FY26), though that marked an improvement from the 32% drop in Q3FY26.Management said the global crop-protection market remains stuck in a prolonged multi-year downturn, resulting in an uneven recovery.
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‘Should I Marry a Murderer?’ has left audiences stunned but what they saw wasn’t all that bizarre
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