Tag: Fintech

In February 2022, Yubi acquired a 75.1 percent stake in Spocto Solutions which already has a presence in the Middle East.

In the latest action against fintech companies controlled by Chinese, who had been providing short term loans and were allegedly involved in money laundering, the Enforcement Directorate (ED) on Wednesday said that it has attached assets worth Rs 6.17 crore lying in various accounts, merchant IDs belonging to the accused companies and persons.

Fully digital banks without any physical branch offices are already a reality and may become commonplace in less than a decade, he said.