PhonePe allows On-line Dispute Decision (ODR) for UPI
Walmart-backed funds firm has introduced enabling dispute decision for UPI-related transactions by way of UPI Unified Dispute and Difficulty Decision (UDIR) system.
UDIR will work as an automatic, single-channel redressal system and permits clients to boost complaints on the PhonePe app immediately. The grievance is then redirected to the related financial institution or Fee Service Supplier (PSP) for decision.
At present, the system addresses finalisation for pending transactions, affirmation of refund credit score to the remitter’s account in case of failed transactions, and the flexibility to boost complaints which might be resolved in an automatic method by the respective financial institution/PSP.
RBI first rolled out the framework for on-line dispute decision for Fee System Operators in August, 2020.
35 North Ventures ropes in former Dhanlaxmi Financial institution CEO
35 North Ventures, a sponsor of India Discovery Fund, has introduced the appointment of Sunil Gurbaxani as Working Associate on the board. In his earlier function, Sunil served because the CEO and Managing Director of Dhanlaxmi Financial institution and has held varied management roles throughout SBBJ and Axis Financial institution throughout his profession.
35 North Ventures has its personal proprietary funding fashions and algorithmic strategy to risk-adjusted focused returns for its buyers. It leverages the experience of its key board members for portfolio firms and had additionally onboarded former CEO of IDFC First Financial institution, Avtar Monga, to its board earlier this yr.
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Way forward for mobility: What’s driving India’s push in the direction of EVs
Three Wheels United enters two-wheeler EV financing
Bengaluru-headquartered financier for mild electrical automobiles in India, (TWU), will now supply financing for two-wheeler electrical automobiles (EV) throughout Karnataka and Delhi-NCR. To this point the corporate was primarily targeted on providing tech-enabled loans to electrical auto-rickshaws.
TWU plans on financing near 2,000 two-wheelers over the following six months. Based in 2017 by Cedrick Tandong, Kevin Wervenbos, and Apurv Mehra, the corporate provides structured financing choices to make EVs accessible and reasonably priced.
To this point, TWU claims to have financed over 4,000 auto-rickshaws and has over 50,000 drivers on its platform. Over the following six months, TWU goals to finance 2,000 two-wheelers throughout Karnataka and Delhi-NCR.
MakeMyTrip launches luxurious trip rental
On-line journey aggregator (MMT) has partnered with Lohono Stays, a luxurious trip rental model in India. As a part of its inaugural supply, the OTA is working a sequence of promotional provides throughout listed properties of Lohono stays’ luxurious rental homestay villas throughout.
MMT has been investing within the homestay section and provides protection throughout 1,100 cities within the nation. With Lohono Stays, the platform needs to speed up the bottom of the ultra-luxury section within the homestay ecosystem.
(This text will likely be up to date with the newest information all through the day.)
Edited by Kanishk Singh
