MeitY Startup Hub, Paytm to launch programme to support deep-tech startups

Digital payments and financial services firm Paytm on Thursday said it has signed an agreement with IT ministry’s startup hub to scale deep-tech startups by providing access to platform, knowledge series, experts, resources, and larger community of stakeholders.
The collaboration also focuses on fostering partnerships with incubators, accelerators, investors, offering a startup toolkit to solve payments, distribution and growth challenges for early stage startups.
Ministry of Electronics and IT senior director of Innovation and IPR AK Garg said Meity Startup Hub, through its association with Paytm, aims to build a strong deep-tech startup ecosystem by providing support for the path-breaking, solution-oriented innovators.

[Via]

Daily.

Google ties up with fintech to let its users open FDs on GPay

Google has teamed up with Setu, a fintech specialising in providing application programming interfaces, to allow its users to book fixed deposits through Google Pay, a person with knowledge of the matter said on the condition of anonymity.
In the initial roll-out, FDs of Equitas Small Finance Bank will be offered for up to one year.
The beta version of the API offers FDs of various tenors including 7-29 days, 30-45 days, 46-90 days, 91-180 days, 181-364 days, and 365 days, with interest rates ranging from 3.5% for the shortest FD to 6.35% for the one-year FD. According to media reports, Google Pay has 150 million monthly active users in India.

[Via]

Daily.