Latest news with #EMIs
Finextra
15-07-2025
- Business
- Finextra
Clear Junction launches fiat rails for crypto firms with vIBAN service
Clear Junction, a specialist in global payments and banking infrastructure for regulated financial institutions, has extended access to its named virtual IBAN (vIBAN) services to licensed virtual asset service providers (VASPs) – a functionality previously only available to banks and electronic money institutions (EMIs). 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. A named vIBAN is a unique code assigned to an individual customer for sending and receiving payments, without creating a separate payment account. This approach enables full traceability of funds, streamlined reconciliation, enhanced AML and KYC processes, and greater institutional trust. By offering this capability to European and UK-licensed crypto asset providers, Clear Junction aims to strengthen the fiat infrastructure available to regulated crypto firms and help them overcome long-standing barriers to accessing reliable account services. It forms part of Clear Junction's broader strategy to bridge the fiat and digital asset ecosystems through enterprise-grade, compliance-focused infrastructure. As regulatory clarity improves across key markets – including the EU's Markets in Crypto-Assets (MiCA) framework and the UK's new crypto registration requirements – crypto companies are under growing pressure to meet higher standards of compliance, AML screening, and auditability. Yet many still face institutional gatekeeping and outdated banking systems that restrict access to essential fiat services, often forcing them to rely on high-friction workarounds or intermediaries. Clear Junction's named vIBANs solve these challenges by giving digital asset providers direct access to fiat settlement capabilities and customer-level account referencing. This unlocks a range of crypto-specific use cases, including me-to-me transfers, fiat-to-crypto conversions, and automated treasury operations. In turn, it boosts operational efficiency, reduces risk, and enables crypto-native institutions to deliver bank-like services on par with traditional fintechs and EMIs. Dima Kats, CEO and Founder of Clear Junction, commented: 'The virtual asset ecosystem has matured rapidly, but fiat infrastructure has often lagged behind. We're closing that gap, and this launch is another step toward normalising crypto within the global payments ecosystem. 'We've long understood that VASPs face an uphill battle accessing fiat services, even when they're fully licensed and compliant. This launch is about solving that pain point with a practical, scalable solution. By extending named vIBANs to digital asset providers, we're giving regulated crypto institutions the tools they need to scale responsibly, with full compliance and greater operational clarity.' Example use cases include: • Wallet operators assigning unique vIBANs to individual users, enabling fiat deposits/withdrawals with reference-free reconciliation • Crypto exchanges managing multiple jurisdictions and currency pairs with cleaner fund flows • OTC desks executing high-volume fiat-to-crypto conversions under tighter operational controls • Token issuers streamlining fiat treasury flows across ecosystems This service complements Clear Junction's broader digital asset offering, which includes: • Instant fiat deposits and withdrawals • EUR and GBP payment rails via SEPA and FPS • On/off-ramp solutions for fiat-to-crypto transactions • On-chain transfers via its stablecoin payment service supporting USDT and USDC on Ethereum, Solana, and Tron networks The expanded vIBAN service is backed by Clear Junction's deep regulatory expertise and technology platform purpose-built for regulated institutions. The group is one of the few UK-based entities licensed both as an EMI and a crypto asset service provider by the Financial Conduct Authority, uniquely positioning it to support the evolving needs of the digital asset sector. Founded in 2016, Clear Junction enables financial institutions to access accounts, vIBANs, payment networks, FX services, and e-wallets quickly, securely, and in full compliance with regulatory requirements. Its infrastructure is built to reduce time to market, expand access to new regions, and power faster, safer global payments.
Time of India
02-07-2025
- Business
- Time of India
'Rs 43.5 LPA for NIT topper and then suddenly laid off': Thyrocare founder's warning to young professionals
A post about an NIT topper who was unceremoniously laid off from his Rs 43 lakh per annum job created quite a stir on the Internet recently. The man who had shared the news also added that he had been offered just three months of a severance package. Responding to the tweet, Thyrocare founder Dr. A. Velumani observed that this should serve as a cautionary tale for wide-eyed engineering hopefuls desirous of landing a well-paid job. Warning graduates to be alert, he explained that a significant number of companies participating in campus placement drives and making seemingly attractive CTC (cost to company) promises often have hidden motives. Their primary agenda is usually to inflate their financial records for the next three to five years, rather than genuinely invest in long-term employee growth. These organizations attract fresh talent with impressive-sounding compensation packages. However, once a candidate becomes financially dependent—usually after taking on monthly EMIs based on their expected salary—the company abruptly ends the association, leaving the individual vulnerable and stranded without support or stability. Such practices can cause serious disruptions in the personal and professional lives of unsuspecting students. They fall prey to false hopes, unaware that the offer was more about corporate window dressing than career development. 'All that glitters is not gold,' he warned followers. — velumania (@velumania) According to the poster who shared the news of the unfortunate NIT alumnus, he revealed that, suddenly bereft of a job, he was facing potential financial difficulties. Although he was fortunate enough not to have a home loan burden, the situation remains challenging. With no current source of income, he is relying solely on his savings and the severance package received from his previous employer. These limited funds are being used to cover essential expenses, the most critical being his children's school fees, which amount to Rs 1.95 lakh per child each academic year. — venkat_fin9 (@venkat_fin9) The financial strain, however, is only one part of his struggle. The emotional impact has been even more devastating. The sudden shift from stability to unemployment left him feeling completely uprooted and overwhelmed. He confided that he felt as though he had been thrown out into the streets, with no support or direction, and was battling an intense sense of abandonment. Dr. Arokiaswamy Velumani: From Modest Roots to Healthcare Visionary Born on April 12, 1959, Dr. Arokiaswamy Velumani is a renowned Indian entrepreneur who built his success from the ground up and emerged as a billionaire in the healthcare diagnostics space. Widely respected for his transformative role in the medical testing sector, he is the visionary behind Thyrocare Technologies Ltd. , a prominent diagnostic service provider headquartered in Navi Mumbai. The company has redefined affordability and reach in preventive and diagnostic healthcare across India. Dr. Velumani's trailblazing efforts didn't stop with Thyrocare. He went on to launch Nueclear Healthcare Limited, a cutting-edge radiology company aligned with Thyrocare. Nueclear specializes in nuclear imaging and cancer diagnostics, bringing high-end diagnostic tools and technologies within reach for the average Indian citizen. Through his relentless drive and innovative approach, Dr. Velumani has played a key role in reshaping the landscape of medical diagnostics. He has focused on making accurate and reliable testing more affordable, thereby enabling a wider section of society to access early detection and disease monitoring services. His efforts have directly contributed to improving public health outcomes while simultaneously setting new benchmarks for cost-efficiency in the industry. As per a Forbes report from 2021, Thyrocare Technologies reached a market value of Rs 7,000 crore, and Dr. Velumani's personal share in the company was estimated to be around ₹5,000 crore. This financial milestone reflects the scale and impact of the enterprise he nurtured from scratch. Dr. Velumani's life story—from growing up in modest conditions to establishing a billion-rupee empire in the healthcare sector—stands as a powerful inspiration. His journey is a shining example for emerging entrepreneurs who dream of creating meaningful, large-scale change through persistence, innovation, and integrity.
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First Post
01-07-2025
- Automotive
- First Post
Punishment, appeasement... Indians react to Delhi fuel ban on end-of-life vehicles
Delhi's ban on refuelling end-of-life vehicles from Tuesday has ignited a fierce debate. Many feel targeted and ask 'is it a punishment for those who maintain their cars well?' read more Delhi's ban on refuelling end-of-life vehicles — effective from Tuesday — has triggered intense public debate, with netizens and residents questioning its fairness, economic impact, and underlying motives. The policy denies refuelling for diesel vehicles over 10 years and petrol vehicles over 15 years at petrol pumps (gas stations), enforced via Automatic Number Plate Recognition (ANPR) cameras linked to the VAHAN database. Violators face fines up to Rs 10,000 and vehicle impoundment. STORY CONTINUES BELOW THIS AD The sweeping ban on refuelling end-of-life vehicles — petrol cars over 15 years old and diesel vehicles over 10 — saw many feeling targeted and voicing concerns about fairness, affordability, and the policy's real motives. What they complaint about They complained that the policy is like punishment for those who maintain their cars well. 'Why should responsible owners who regularly service and maintain their vehicles be penalised simply because of the car's age,' asked one user. Many others echoed this sentiment, arguing that the blanket ban fails to distinguish between well-kept, low-emission vehicles and neglected ones, making it seem arbitrary and unjust. The financial burden is a major worry. 'What if I cannot afford a new vehicle?' This is a question that seems to resonate across the middle class. For families already stretched by inflation and EMIs, being forced to scrap a functioning vehicle and buy a new one feels like a direct hit. Critics suggest the policy could keep the middle class perpetually on EMIs, as replacing vehicles every decade becomes the new normal. #WATCH | Delhi Police seized two end-of-life vehicles (ELVs) - 15-year-old petrol and 10-year-old diesel vehicles from a petrol pump. Ashok Kumar, Traffic Inspector, says "Two motorcycles have been seized from here. As per guidelines, we will hand over to the registered vehicle… — ANI (@ANI) July 1, 2025 Scepticism about the government's motives is rife. Some see the ban as appeasement of car makers and a boost for government coffers via GST on new sales. 'It's not about pollution, it's about pushing us to buy new cars and fill the treasury,' wrote one commenter. STORY CONTINUES BELOW THIS AD Others argue that while authorities are quick to scrap old vehicles, they have failed to address Delhi's bad roads, which also contribute to pollution and vehicle wear. Inconsistency in policy? The policy's inconsistency — 10 years for diesel, 15 for petrol — has also come under fire. 'Pollution is the same for all vehicles. Why not have a single rule,' one user asked, pointing to the confusion and perceived arbitrariness of the regulations. Some have taken a satirical jab, asking, 'What about end-of-life politicians? Why not have a cap for them?' Others warn that today it's vehicles, but tomorrow it will be ACs and fridges, expressing fears about creeping restrictions on other personal assets. While supporters argue that vehicular emissions account for over half of Delhi's local pollution and drastic steps are needed, critics remain unconvinced that the ban is either fair or effective. With over 62 lakh vehicles affected in Delhi alone and millions more in neighbouring states, the policy's social and economic impact is set to be profound. As enforcement teams, police, and Automatic Number Plate Recognition (ANPR) cameras monitor nearly every fuel station, the coming weeks will test not only the government's resolve but also the patience and adaptability of Delhi's motorists. STORY CONTINUES BELOW THIS AD It's not limited to Delhi only India hosts 6.1 crore vehicles aged 15+ years, constituting 17.9 per cent of the nation's 34.15 crore registered vehicles. Delhi bears the highest burden: 41 per cent of its registered vehicles (approx. 32.6 lakh out of 79.46 lakh) are over 15 years old. This dwarfs states like Bihar (2.4 per cent old vehicles) and Maharashtra (9.4 per cent). The city also has an estimated 62 lakh end-of-life vehicles (combining petrol 15+ years and diesel 10+ years). The law The ban originates from a 2014 National Green Tribunal (NGT) order to curb vehicular emissions, which contribute over 50 per cent of Delhi's local pollution. Implementation stalled until 2025 due to legal challenges and policy gaps. The Delhi government revived the drive in February 2024 after court directives, citing: Fitness failures: Only 6.27 per cent of 47.51 lakh national end-of-life (EOL) vehicles were deregistered (2018–21), leaving 44.53 lakh polluting vehicles operational. Seasonal urgency: Winter pollution spikes necessitate drastic measures. Pollution is a real crisis Delhi consistently ranks among the world's most polluted cities: AQI: Delhi's annual AQI averaged 169 in 2024, peaking at 290 during November. National comparison: While metros like Mumbai and Kolkata fare better, Delhi's vehicular density (79+ lakh vehicles) exacerbates its crisis. What about implementation challenges? Authorities too face logistical hurdles in implementing the law that originated with a tribunal order. Enforcement: 500+ fuel stations use ANPR cameras, but evasion risks persist. Scrappage lag: Only 1.4 lakh Delhi vehicles were scrapped voluntarily by 2023 — far below the 6.23 lakh that obtained NOCs for resale elsewhere. Interstate coordination: The policy is mandated to expand to NCR cities by April 2026, requiring synchronised databases. Removing 62 lakh high-emission vehicles could significantly improve air quality in Delhi, but implementing it remains a big challenge. The policy's success depends on balancing environmental urgency with socioeconomic realities — a challenge for a city where over one of every four vehicles is now 'illegal' for refuelling.
