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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The concerns flagged by PhonePe owner Walmart for not going ahead with the acquisition are emblematic of all that’s wrong with the buy now pay later business in India.
ZestMoney’s distress sale to PhonePe is off, The Economic Times reported last week. The reason: PhonePe’s owner, Walmart, decided against the deal after the Bengaluru-based buy now pay later startup failed to pass its due diligence test.
This undoubtedly puts ZestMoney, one of the pioneers of India’s online buy now pay later industry, in serious trouble. According to media reports, the company is now preparing for layoffs across departments as it is on the verge of running out of funds with no other prospective buyer in sight.
The unravelling of ZestMoney’s operations over the last year and its subsequent …
The acquisition of IDBI Bank puts his Fairfax smack dab in the middle of the RBI’s rules on bank ownership. It must now decide whether to sell CSB Bank or merge the two lenders, neither of which will be easy.
Lenders stand to gain a lot more than borrowers in the current challenging market environment
The loan aggregator keeps sending updates on WhatsApp even to users who haven’t applied for a loan. The company is exploiting a grey area in India’s telecom regulatory framework and WhatsApp’s policies.
