HDFC Bank failed transactions: Reserve Bank of India (RBI) has issued an Order dated December 2, 2020 to HDFC Bank Limited with regard to certain incidents of outages in the internet banking / mobile banking / payment utilities of the Bank over the past 2 years, including the recent outages in the Banks internet banking and payment system on November 21, 2020 due to a power failure in the primary data centre.
The RBI vide said Order has advised the Bank to temporarily stop
i) all launches of the Digital Business generating activities planned under its program ?Digital 2.0 (to be launched) and other proposed business generating IT applications
(ii) sourcing of new credit card customers. In addition, the Order states that the Banks Board examines the lapses and fixes accountability.
The above measures shall be considered for lifting upon satisfactory compliance with the major
The startup raised the funding from Falguni and Sanjay Nayar Family Office and will utilize it to scale up its micro SME lending
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Digital lending startup FlexiLoans on Wednesday announced it has raised INR 150 crore through a mix of equity and debt lines. The fund has been raised from Falguni and Sanjay Nayar Family Office.
With the current funding, the Mumbai-based startup has raised INR 500 crore in a mix of both equity and debt since its inception in 2016 and banking relationships with over 13 financial institutions.
The startup will utilize the fresh capital infusion in scaling its micro SME lending and has significant alliance partnerships that will be announced this quarter by offering lending products. The startup