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<ul><li>The company posted losses to the tune of ₹83.81 crore for the FY23.</li><li>It’s a completely fresh issue with no offer for sale component.</li><li>The issue proceeds will be used to fund growth, tech, capex and general corporate purposes.<br /></li></ul>Fintech One <keyword id="20054770" type="General" weightage="20" keywordseo="mobikwik" source="keywords">Mobikwik</keyword> Systems has filed a Draft Red Herring Prospectus (DRHP) with SEBI to raise ₹700 crore for its initial public offering (<keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword>). <br /><br />For the fiscal 2022–23, the company’s revenue from operations has increased to ₹539.47 crore against ₹526.56 crore for fiscal 2021–22. Loss for the year decreased by 34.6% from ₹128.16 crore in fiscal 2022 to ₹83.81 crore in fiscal 2023. <br /><br />For the six months ended September 30, 2023, revenue from operations stood at ₹381.09 crore and profit after tax stood at ₹9.48 crore. The IPO has a face value of ₹2 is entirely a fresh issue of equity shares with no offer for sale component. <br /><br />The company, in consultation with the book-running lead managers, may consider a further issue of specified securities including private placement, preferential allotment, rights issue, or any other method aggregating to ₹140 crore as ‘Pre-IPO placement’. If such placement is completed, the fresh issue size will be reduced. <br /><br /><strong>Fresh issue to fund growth <br /></strong><br />The proceeds from the fresh issue, to the extent of ₹250 crore will be used for funding growth in the financial services business, ₹135 crore for funding growth in the payment services business, ₹135 crore for investment in data, ML and AI and product and technology, ₹70.28 crore for capital expenditure for the payment devices business, and general corporate purposes.<br /><br />The issue is being made through the book-building process, wherein not less than 75% of the issue shall be available for allocation on a proportionate basis to qualified institutional buyers, not more than 15% of the issue shall be available for allocation to non-institutional investors, and not more than 10% of the issue shall be available for allocation to retail individual bidders.<br /><br />Established by Bipin Preet Singh and Upasana Taku, the fintech caters to businesses and merchants. It has extensive payments and financial services like online checkout, Kwik QR scan and pay, MobiKwik Vibe (Soundbox), MobiKwik <keyword id="20076789" type="General" weightage="20" keywordseo="edc-machine" source="keywords">EDC Machine</keyword>, and Merchant Cash Advance. <br /><br />Its subsidiary <keyword id="20076790" type="General" weightage="20" keywordseo="zaakpay" source="keywords">Zaakpay</keyword> operates a B2B payment gateway for e-commerce businesses and has received RBI approval for its Payment Aggregator (PA) business.<br /><br />MobiKwik provides consumers access to various payment options and financial products in digital credit, investments, and insurance has acquired approximately 18.29 million new users every year, between Fiscal 2021 and September 30, 2023.<br /><br />As of September 30, 2023, the company has amassed 146.94 million registered users and enabled 3.81 million merchants to conduct online and offline payments. Its Payment GMV has grown annually by 32.33%, while MobiKwik ZIP GMV (Disbursements) surged by 354.86% from Fiscal 2021 to Fiscal 2023.<br /><br />As per RedSeer, the company's commitment to growth through cost-effective, technology-driven innovations is evident in its array of scaled products and its ability to maintain one of the lowest employee cost-to-revenue ratios among digital financial service platforms in Fiscal 2023. <br /><br />SBI Capital Markets and DAM Capital Advisors are the book-running lead managers for the IPO, and Link Intime India Private is the registrar of the offer. The equity shares are proposed to be listed on the BSE and NSE.<br />

Mobikwik replans market debut with plans of raising ₹700 crore

<ul><li>“I am told that it’s a positive signal that promoters are so gungho about their business that they don’t want to sell at the current issue,” cofounder Upasana Taku said.</li><li>Other stakeholders may choose to increase or decrease their offer for sale (OfS), cofounder Taku said.</li><li>The company is betting big on its two BNPL products in order to further strengthen its financial position.</li></ul>The promoters of digital payments company <keyword id="143842" type="General" weightage="20" keywordseo="mobikwik" source="Orion">Mobikwik</keyword> — Upasana Taku and Bipin Preet Singh — have decided to not sell any shares in the company’s upcoming initial public offering (IPO). <br /><br />Meanwhile, other stakeholders may choose to increase or decrease their offer for sale (OfS). “I can’t speak on behalf of my shareholders, they can also reduce or increase how much they want to sell (during the IPO). I can speak for myself and one of my co-founders, who is also my husband,” cofounder Taku told Business Insider. <br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">As per DRHP<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Details<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total stake held by founders (collectively)<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% worth ₹2,656 crore*<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Earlier plan to sell during IPO<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% of their stake worth ₹188 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Now<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not sharing any shares<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Mobikwik DRHP*<br />The worth of shareholding of Mobikwik’s founders have been derived based on the $1 billion (₹ 7,591 crore) valuation accorded to the company in October 2021.<br /><br />She emphasised that the promoters have larger shareholding in the company; Singh has 20% and Taku has 14%. “I am told that it’s a positive signal that promoters are so gungho about their business that they don’t want to sell at the current issue,” she said, adding that the promoters may look to sell a small portion of their shareholding later. <br /><br /><table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td colspan="2" style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Other Investors looking to offload their shareholdings in MobiKwik IPO<br /><br /></td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Stakeholders<br /><br /></td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Offer for Sale (OFS)<br /><br /></td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">American Express<br /><br /></td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹9.9 crore<br /><br /></td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance<br /><br /></td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹68.9 crore<br /><br /></td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bipin Preet Singh<br /><br /></td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹111 crore<br /><br /></td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Upasana Taku<br /><br /></td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹78 crore<br /><br /></td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Cisco Systems<br /><br /></td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹11 crore<br /><br /></td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sequoia Capital<br /><br /></td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹94 crore<br /><br /></td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Treeline Asia<br /><br /></td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹24 crore<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br />Source: Mobikwik’s DRHP<br /><br /><strong>Mobikwik is just working to get the timing right<br /></strong><br />Mobikwik has already got market regulator, Securities and Exchange Board of India’s (SEBI), permission to go for an IPO in November. However, the company has decided to wait out due to unfavourable market conditions. A company has to go public within the next 12 months of receiving SEBI’s approval. <br /><br />While Mobikwik has not yet decided or disclosed when it plans to go public, Taku had emphasised that a strong financial performance, regulatory approval and market are the most important aspects of going public. Financial performance and regulatory approval is still somewhat in control of the company, but market sentiment is not. <br /><br />One has to “time the market right” before making any move towards that direction, she added. <br /><br />Several experts have suggested that Paytm’s underwhelming debut in the stock market has raised concerns for other startups, specifically, fintech going public in India. <br /><br />Paytm’s share price <a href="https://www.businessinsider.in/stock-market/news/zomato-is-now-bigger-than-paytm-reasons-why-the-market-is-not-excited-about-vijay-shekhar-sharmas-vision-of-a-superapp/articleshow/87777762.cms">dropped 40% on the first two days of listing last month</a>. Its share price still has not reached close to the issue price of ₹2150, which is why companies like OYO and Mobikwik are said to be shying away from IPO now. As per a Bloomberg report, Mobikwik’s shares had <a href="https://www.bloomberg.com/news/articles/2021-11-23/paytm-rival-mobikwik-tumbles-40-in-private-market-trading">dropped 40% in the grey market </a>on the second day of Paytm listing.<br /><br />Mobikwik is not only competing with startups or fintech companies, but it also faces challenges from large public issues like the LIC that would eat into liquidity. <br /><br />The trust is that the issue of size is going to attract big investors across the board. The chances of an IPO like LIC eating into the liquidity are quite high as more investors look to place their bets on it.<br /><br />The company highlighted that they will do an IPO next year before November, however the month has not been specified.<br /><br /><strong>SEE ALSO</strong><br /><br /><a href="https://www.businessinsider.in/finance/banks/news/lic-owned-idbi-bank-gets-hit-by-6710-crore-loan-default-by-a-diamond-merchant-the-biggest-since-nirav-modi/articleshow/88392370.cms" data-type="tilCustomLink">LIC-owned IDBI Bank gets hit by ₹6,710 crore loan default by a diamond merchant, the biggest since Nirav Modi</a><br /><br /><a href="https://www.businessinsider.in/cryptocurrency/news/kavin-bharti-mittals-hike-is-offering-eth-to-anyone-who-find-a-chief-meme-officer-or-a-crypto-game-economist-for-the-company/articleshow/88388082.cms" data-type="tilCustomLink">Kavin Bharti Mittal's Hike is offering ETH to anyone who find a 'chief meme officer' or a 'crypto game economist' for the company</a><br /><br /><a href="https://www.businessinsider.in/stock-market/news/how-do-rising-covid-19-cases-lead-to-a-fall-in-markets/articleshow/88385905.cms" data-type="tilCustomLink">Why is the stock market falling so sharply today?</a><br />

Mobikwik founder says they are not selling any shares in the IPO

Post demonetisation, the whole nation has understood that all you need to survive is your smartphone. You can literally buy candies and also transfer money with your smartphones and it’s also timesaving.<br />
<br />
"In the near term, wallets will do well as they are more popular,” Niren Shah, MD of Norwest Venture Partners, told ET.<br />
<br /> So far, people have grabbed whatever is easily available to pay for coffee, bills, movie tickets, cab rides and just about anything, and here, m-wallet <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword> has scored over others.<br />
<br />
Users comfortable with mobile wallets today could shift to an easier digital platform.<br />
<br /> "Frictionless payments are the future,” R Venkatachalam, managing director for India &amp; <keyword id="52011" type="CITY" weightage="20" keywordseo="South-Asia">South Asia</keyword> at FIS Global, a global provider of financial services technology. That is, any payment mechanism which is effortless, without requiring users to remember too many passwords, PINs etc, perhaps biometrics-enabled, told ET.<br />
<br />
There's more to providing a smooth digital payment experience than aspects such as security and ability to attract customers who are used to transacting in cash and are reluctant to change.<br />
<br />
"Three things are important for any payment option - access, interoperability and financial sustainability of the operator,” said Anant Bhagwati, partner, Bain &amp; Company.<br />
<br /> People are using mobile wallets as they offer the least hurdles to complete a payment. Paytm alone has 173 million users but they have limitations. They are not interoperable and transferring money requires sender and receiver to have the same company's account - it's Paytm to Paytm, <keyword id="143842" type="UNKNOWN" weightage="20" keywordseo="Mobikwik">MobiKwik</keyword> to MobiKwik and <keyword id="6377963" type="UNKNOWN" weightage="20" keywordseo="Freecharge">Freecharge</keyword> to Freecharge.<br />
<br />
And furthermore, the money transferred to a wallet does not earn interest. Small merchants such as owners of corner shops and neighbourhood kirana stores can't draw more than Rs 25,000 a month from a digital wallet, which affects cash flow. Even the founders of some mobile wallet companies are not so optimistic about their future if challenges like interoperability persist.<br />
<br /> "That's why we don't call it a Paytm wallet - it's a Paytm account that people have with us,” <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>, founder of Paytm, told ET.<br />
<br /> The account could be a digital wallet, <keyword id="6358921" type="COMPANY" weightage="20" keywordseo="UPI">UPI</keyword> or anything else that is permitted.<br />
<br />
"The fight is about owning consumers and merchants - protocols can change,”, Sharma said.<br />
<br />
At present, wallet companies are not allowed to enable users to access UPI, which enables funds to be transferred from one bank account to another. By the end of 2017, it's quite possible that people could be ditching their digital wallets and opting for UPI or even voice commands to digital avatars to complete payments.<br />
<br />
"Wallets need to mature, evolve into something else and be interoperable to be relevant,” Bipin Preet Singh, founder of MobiKwik, a wallet company with 45 million users, told ET.<br />
<br />
In India, 27% of the more than 1 billion mobile phone users have smartphones - compared with 70% in China - and the rest use feature phones. Affordability, among other factors, has hindered the faster adoption of smartphones. The digital payment option for feature phones is USSD, or Unstructured Supplementary Service Data, which transmits data over GSM networks and is popular in Kenya, Bangladesh, Cambodia and Zimbabwe with their respective services, mPesa, bKash, Wing and EcoCash.<br />
<br />
Plastic Lacks Reach; UPI Fills Void If mobile wallets face multiple headwinds, one of the oldest cashless options - credit and debit cards - have limited reach. About 800 million people carry plastic (mostly debit cards, less than 10% are credit cards) and they are generally used to withdraw cash from ATMs.<br />
<br />
Today, digital wallets are popular. Tomorrow, direct payment systems will score over intermediaries such as mobile wallet and plastic money companies.

Mobile wallets will lose their popularity with time, here’s why

New Delhi, With fintech sector gaining size and scale, there is a need to relook at the regulatory policies and guidelines to give further impetus to financial inclusion drive and penetration of financial products to the bottom of the pyramid, experts said.  The fintech space has revolutionalised the financial sector in the country. It has also helped to a great extent in formalising the Indian economy, but the recent incident of Reserve Bank's action on Paytm Payments Bank Ltd (PPBL) left a section of industry perplexed. <br /><br /> Post the RBI's action, a section of the industry expressed sentiment that the regulatory environment, instead of nurturing innovation, could impede the progress of fintech companies. <br /><br /> It is being said that technology-led companies have always been ahead of regulations and regulations do catching up. The purpose of creating a payments bank was to serve an unserved and under-served population of India with a min-KYC and full KYC accounts with a credit limit of Rs 2 lakh only. <br /><br /> "The rapidly growing fintech industry has faced more regulatory scrutiny over the years as with other emerging new-age digital sectors of the economy. As the government has been supportive of the startup ecosystem...it is taking a balanced approach to ensure that the regulatory environment would foster innovation," MobiKwik, CEO Bipin Preet Singh said. <br /><br /> With Digital Public Infrastructure (DPI) and guardrails to establish increased compliance in the sector such as the call to establish a fintech SRO, it can be said that the Indian regulatory environment has been highly supportive of the sector, he added. <br /><br /> The government needs to relook at the regulatory policies and guideline framework, so that Indian fintech companies are more transparent to both government and consumers, Aankush Ahuja, Founder and CEO, FOIP (Fractional Ownership Investment Platform), said. <br /><br /> With rising disposable income of consumers, they are putting in more trust into fintech companies for their savings and investments, Ahuja, who runs an innovative fractional ownership platform that helps to raise fund for value deals in real estate and financial services, said. <br /><br /> Only cohesive government policies and regulatory framework will help in bringing more transparency and security for consumers in the fintech eco-system, he added. <br /><br /> Experts also said that the present regulatory environment urges caution intending to manage systemic risk in the financial system and prescribed differential regulation for the sector to grow. <br /><br /> According to Deloitte India partner (banking and capital markets) <keyword id="20733176" type="General" weightage="20" keywordseo="vijay-mani" source="keywords">Vijay Mani</keyword>, the current regulatory environment urges caution with a view to managing systemic risk, particularly with regard to matters such as KYC/ AML compliance, robust and independent governance of regulated entities, fraud risks and cyber security risks. <br /><br /> This is essential to maintain the credibility of the financial system and safeguarding the interests of the end consumer, <keyword id="19929173" type="General" weightage="20" keywordseo="mani" source="keywords">Mani</keyword> said. <br /><br /> "Having said that, there may be a case for greater use of mechanisms such as sandboxes for early and open engagement between regulators and fintechs, and accordingly, greater and wider information sharing on compliance and risk management complexities. This can provide better visibility to investors on the risks to their capital," he added. <br /><br /> Induslaw founding partner <keyword id="20733178" type="General" weightage="20" keywordseo="avimukt-dar" source="keywords">Avimukt Dar</keyword> is of the opinion that there is need for tailor-made regulations and not a straightjacket approach as far as technology-led sector is concerned, and compliance burden should not be enough to stiffle the sector. The regulator should handhold these young companies and give them chances to achieve the digital India mission. <br /><br /> The regulators do recognise that the consumer benefit of disruptive innovation by startups in some cases can outweigh the compliance risks and as such every effort is made to balance the risks with the potential benefits, <keyword id="20086382" type="General" weightage="20" keywordseo="dar" source="keywords">Dar</keyword> said, adding, this is especially the case when the startups or the niche they are in are yet to scale. <br /><br /> "I think a tailor-made approach to fintech regulation is required. Large regulated entities such as banks and mutual funds benefit from the innovation and execution abilities of nimble startups and as such the ecosystem, like any other, has the potential to be symbiotic," Dar said. <br /><br /> Since the fintech sector is primarily about the movement of money and financial data, a regulatory approach that allows consumers play at a ticket size which doesn't risk their life savings and maintains the integrity of their personal data could provide a useful balance, he said. <br /><br /> At the same time encouraging light touch licensing of startups will help in building out compliance and governance standards in the fintech sector, he added. <br /><br /> Ecohong similar view, <keyword id="20733177" type="General" weightage="20" keywordseo="shilpa-mankar-ahluwalia" source="keywords">Shilpa Mankar Ahluwalia</keyword>, partner, Shardul Amarchand Mangaldas &amp; Co, said, regulations need to find a balance between creating ecosystems that protect consumers but still allow for innovation. <br /><br /> The growth and adoption of fintech products in India has been exponential, particularly in the payments and digital lending sectors, she said, adding, once markets reach a certain scale and size, regulation is inevitable and critical to growth. <br /><br /> Regulatory changes brought about with little notice does create disruption in the market and also increases the perception of regulatory risk among the innovator and investor communities, she added.

You Searched For "mobikwik systems limited" and got 4 results

Mobikwik replans market debut with plans of raising ₹700 crore

BI India Bureau

Mobikwik founder says they are not selling any shares in the IPO

Kritti Bhalla

Mobile wallets will lose their popularity with time, here’s why

BI India Bureau

Experts suggest regulatory reassessment to boost fintech sector and ease compliance burden

PTI

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