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Introduction: A Landmark Moment in Indian Fintech In a significant regulatory milestone, Jaipur-based fintech company Getepay has received final authorization from the Reserve Bank of India (RBI) to operate as an online Payment Aggregator (PA) under the RBI’s payment regulatory framework. This development positions Getepay as the first company from Rajasthan to obtain this prestigious license, reinforcing its role as a critical player in India’s digital commerce and financial inclusion narrative. Merchant-Centric Model from Inception Since its establishment in 2016 by fintech entrepreneur Pravin Sharma , Getepay has been focused on providing integrated payment and commerce solutions to small and medium-sized enterprises (SMEs) and micro-merchants across India. The platform currently serves over 1.5 million merchants , including: Kirana shops Micro-retailers E-commerce stores Educational institutions Service providers Small-scale manufacturers Its missio...

Turning Global Challenges into Opportunities In a major economic push, the Uttar Pradesh (UP) government has set an ambitious target to triple its exports by 2030 , leveraging the global trade shifts triggered by the ongoing US-China tariff war . An official statement released on Saturday highlighted how Chief Minister Yogi Adityanath’s administration is positioning UP to seize emerging opportunities amid global economic realignments. While the standoff between the world’s two largest economies presents a broader chance for India, Uttar Pradesh is particularly well-placed with its improving law and order situation , world-class infrastructure , and an abundant skilled workforce to emerge as a preferred investment destination. Rising Export Numbers with Strategic Schemes Since the launch of the highly successful One District One Product (ODOP) scheme, Uttar Pradesh’s exports have surged from ₹88,967 crore to over ₹2 lakh crore , marking a strong trajectory of growth. The ODO...

India's Forex Reserves Reach Record High of USD 675 Billion India's foreign exchange reserves have surged to a record high of USD 675 billion, with a notable increase of over USD 50 billion in 2024 alone. The latest figures, released for the week ending August 2, show a rise of USD 7.533 billion, pushing the reserves to a new peak of USD 674.919 billion, surpassing the previous record of USD 670.857 billion.  What Are Foreign Exchange Reserves? Foreign exchange reserves (forex reserves) are assets held by a nation's central bank or monetary authority. They are typically held in reserve currencies such as the US Dollar, Euro, Japanese Yen, and Pound Sterling. These reserves are used to manage the exchange rate and ensure economic stability. Importance for Developing Economies For a developing nation like India, forex reserves play a crucial role in maintaining economic stability. Key functions include: - Buffer Against External Shocks: Adequate reserves help cushion the eco...

NBFC Sector Seeks Funds and Reforms Ahead of  Union Budget 2024 As the Union Budget for 2024 approaches, the Non-Banking Financial Company (NBFC) sector is calling for enhanced financial inclusion and digitalization efforts to sustain its growth. The sector, represented by the Finance Industry Development Council (FIDC), is advocating for the establishment of a special refinancing body, akin to the National Housing Bank (NHB) for housing finance companies. Importance of NBFCs in the Economy NBFCs play a crucial role in the Indian economy by providing financial services to underserved segments that traditional banks may not fully reach. They offer a range of financial products, including loans, asset financing, and wealth management services. This sector is vital for promoting financial inclusion, supporting consumer demand, and improving trade balances. Current State of NBFCs Despite facing stringent regulatory actions from the Reserve Bank of India (RBI) this year, the NBFC sector...