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Banks to insure deposits up to Rs 5 lakh

Banks to insure deposits up to Rs 5 lakh
tribuneindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneindia.com Daily Mail and Mail on Sunday newspapers.

BharatPe to raise $175 mn debt, offers super-bikes to new hires

Indian fintech BharatPe plans to raise around USD 175 million or INR 1,300 crore in debt, according to a news report by Entrackr. Founded in 2018 by Ashneer Grover and Shashvat Nakrani, BharatPe is a merchant-payments and lending solutions provider. Since its inception, the company has raised only around $268 million but is valued at $900 million. The soon-to-become Unicorn plans to use the fresh funds to launching new consumer-focused products. The company is also looking to build a loan book of $675 million. It has also recently acquired an Indian co-operative bank called Punjab and Maharashtra Co-operative (PMC) bank in a consortium with wealth-management firm Centrum Financial services. It is essential to mention here that a scam hit the PMC bank in 2019 after it favored a housing company by giving out a huge loan.

BharatPe banks on engineers

BharatPe banks on engineers SUBSCRIBE Thank you for subscribing to Morning Dispatch We ll soon meet in your inbox. / Morning Dispatch In June, a three-year old fintech startup won a rare banking licence from the RBI a prize that has eluded many of India’s biggest business barons. BharatPe now plans to launch India’s first merchant-focussed bank in the next three to four months. We spoke to several experts to make sense of the company’s foray into traditional banking. Also in this letter: Why IT services firms are on a hiring spree Govts need to hold (L-R) BharatPe cofounder Ashneer Grover, Centrum Group chairman Jaspal Bindra, BharatPe group president Suhail Sameer

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