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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...

The Reserve Bank of India (RBI) has introduced new guidelines under its Master Directions on Priority Sector Lending (PSL) , which will take effect from April 1, 2025 . These updated guidelines aim to ensure fair lending practices, prevent excessive charges on small loans , and direct funds towards sectors that genuinely require financial assistance. 🔹 No Excessive Charges on Small Loans (Up to ₹50,000) In a major relief to small borrowers, the RBI has mandated that banks cannot impose loan-related service charges, ad hoc service charges, or inspection charges on PSL loans up to ₹50,000 . This step is designed to: ✔️ Protect small borrowers from unnecessary financial burdens ✔️ Ensure fair and transparent lending practices ✔️ Improve financial accessibility for individuals and micro-entrepreneurs By capping additional charges, the RBI is strengthening its commitment to financial inclusion and ensuring that small loans remain affordable. 🔹 Loans Against Gold Jewellery fro...

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...