Category:

Technology

US Regulators disagree over giving Fintechs Federal Charter to skirt State Rules

Companies such as PayPal and LendingClub Corp. have attracted millions of customers by offering greater convenience or better prices than traditional banks. The OCC and the FDIC say such firms can broaden access to financial services because their low-cost models allow them to reach poorly served areas and offer small loans that are uneconomical for bigger banks.

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Turtlemint’s $25 million funding by Sequoia

“Turtlemint has pioneered a new model that is not only bringing new agents into the insurance domain but is also helping them become more productive & effective with their customers by making them digitally savvy”, said Harshjit Sethi, Principal, Sequoia Capital India Advisors. “Sequoia India is excited to partner with them from the early stages – the company is growing at a very fast clip and is well on its way to transforming insurance distribution in the country”, he added.

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IMD working to give forecast on thunderstorms 6-12 hours in advance

M Rajeevan from the Ministry of Earth Sciences said this year the IMD plans to have Standard Operating Procedures (SOPs) in place for dealing with thunderstorms instances and it will be working more closely with the National Diaster Management Authority (NMDA). Sending early warnings to states will give them more time to respond, he said, adding the system should be in place by April. 

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