Latest news with #SVF
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Business Standard
08-07-2025
- Business
- Business Standard
Best of BS Opinion: Correct timing, power, and the politics of precision
Imagine, you're playing badminton at dusk, the last game of the day. The air is thick with sweat and concentration. The rally has gone long, your legs ache, but your grip is tight on the racquet. And just then, the shuttle floats up just right. It's the moment. The crowd (or your cousin on the sidelines) holds its breath. You leap. All your power rushes to the wrist. But misjudge the timing by a split second, and it's not the shuttle you strike, it's your own shin. The point's gone, and so is your pride. That's the thing about power. It dazzles. But precision makes it count. Let's dive in. At the BRICS summit in Brazil, the bloc served up a lofty vision of multipolar global governance. But the timing was off. Xi Jinping didn't show up. Putin beamed in from behind a legal firewall. Their declaration, which was long, loud, and layered with good intentions, ended up masking deep divisions. As our first editorial notes, India now has to prepare for its turn as host in 2026, facing the tricky task of keeping this scattered smash from hitting the floor. Donald Trump, meanwhile, nailed his legislative smash, or so it seems. His $4.5 trillion 'Big Beautiful Bill' rewrites tax policy, but slashes healthcare and green subsidies. Markets flinch. The deficit balloons. Even Elon Musk protests. The power was there, and the Republicans lined up for the perfect assist. But, as our second editorial outlines, the follow-through may haunt not just America, but emerging markets bracing for aftershocks. R Jagannathan reflects on a different kind of swing: one between ideology and realism. Should Vodafone Idea be nationalised to avoid a telecom duopoly? Should the government stay the course on disinvestment? The problem isn't strength. It's a fuzzy vision and half-hearted execution. Like mid-air hesitation before a decisive smash, it only leads to stumbles. Vanita Kohli-Khandekar writes about India's film industry, where studios obsess over star power but overlook screen infrastructure. SVF's investment in West Bengal's single-screen revival shows that placing the shuttle right, again and again, can reignite the game. But if the industry keeps missing that window, it'll only keep bruising itself with underwhelming turnouts. Finally, Aditi Phadnis reviews Adivasi or Vanvasi: Tribal India and the Politics of Hindutva, a bold study of the RSS's tribal outreach. Here too, the Sangh's outreach brims with influence but carries inner contradictions. When ideology overtakes timing, you win applause, but miss the point. Stay tuned, and remember, sometimes, the strongest smash is the one you resist, until you're ready!
Time of India
02-07-2025
- Entertainment
- Time of India
Burdwan Rajbari turns into a film set with Shehnaaz Gill & Gippy Grewal
Pic: Anindya Saha What happens when the zest of Punjab meets the old-world charm of Kolkata? You get a story that stirs up cultures, flavours and languages and Singh vs Kaur 2 , SVF's first Punjabi production, does just that. Starring Shehnaaz Gill and Gippy Grewal , the film is the much-awaited sequel to the 2013 hit, with Gippy also serving as co-producer. It is being shot across Punjab, Kolkata, and Canada, with iconic locations like the Burdwan Rajbari in Alipur adding to its grandeur. Kolkata: The sweet spot in the story For the film, Kolkata isn't just a location — it's an important part of the story's soul. 'The base of the film is from Kolkata, and Shehnaaz is playing a Bengali. I can't reveal more, but that's all for now,' said Gippy. He also plans to make the most of his time here. 'It's been a long time since I had a cheat day, so I'll have one here in Kolkata. I'm excited to try the mishti s and spongy rosogollas.' Shehnaaz, too, is fully embracing the spirit of the city as she picks up the language with all its quirks and charm. 'I'm playing a Bengali, and I've learnt quite a lot on set — my teacher says I'm a fast learner,' she said. She's excited to explore the city as well. 'I want to explore Kolkata. Everyone has told me not to miss the aloo-wali biryani, the rolls, and the phuchka — especially these three things,' she smiled. A sequel with bigger challenges Sequels are never easy, especially when the first film has a loyal fan base. 'The challenges are more because you've already established the character. We have been trying to do this for a long time but nothing was hitting the script that would match the first one. This time we finally cracked the code,' said Gippy with a confidence that audiences will embrace this cross-cultural twist.
Arabian Business
24-04-2025
- Business
- Arabian Business
UAE fintech Pay10 first to launch on Central Bank's open finance framework
Pay10, a UAE-based Alternative Payment Method (APM) provider, has become the first fintech company to achieve production status on the Central Bank of the UAE's Open Finance Framework. This development authorises the company to provide payment initiation services, including variable recurring payments. The launch represents the first operational implementation of regulated open finance infrastructure in the UAE, preceding any similar activation by traditional financial institutions or other fintech companies. UAE's open finance pioneer This open finance authorisation adds to Pay10's regulatory portfolio, joining its existing licenses under the Retail Payment Services and Card Schemes (RPSCS) and Stored Value Facilities (SVF) frameworks. With approval of its production environment, Pay10 can now establish secure, real-time connections to bank accounts, creating a foundation for future innovation in data-driven financial services across the region. While Pay10 is now fully operational within the framework, the broader impact will materialise as licensed banking partners complete their integration into the ecosystem. Prabhpreet Singh Gill, Chairman of Pay10, said: 'We are grateful to the Central Bank of the UAE for the trust placed in Pay10 following a rigorous and thorough regulatory process. Becoming the first fintech to go live in production on the open finance framework is both an honour and a responsibility. We recognise the importance of setting a standard – operationally, technically, and in governance – for those who follow. This milestone underscores the UAE's leadership in building a secure, interoperable financial ecosystem anchored in regulatory clarity and innovation.' The achievement follows Pay10's consistent compliance with regulatory requirements across technical, compliance, and operational areas. The company has acknowledged the Central Bank of the UAE's crucial role in facilitating a responsible and secure rollout. The license creates new pathways for secure third-party access to financial data, with notable implications for embedded finance, digital identity, interoperability, and financial inclusion. The Central Bank of the UAE introduced the Open Finance Regulation in mid-2024, outlining a phased implementation strategy designed to enable secure access to customer-permissioned financial data through licensed third-party providers. The framework aims to enhance transparency, innovation, and interoperability within the financial sector and serves as a key element of the country's broader digital economy and financial inclusion strategy. Pay10's platform now integrates all three core regulatory authorisations—RPSCS, SVF, and open finance—positioning the company to support a fully digital, interoperable financial services stack under the Central Bank's direct supervision. These licenses enable Pay10 to contribute to the UAE's national development agenda by expanding financial services access for unbanked and underserved populations, promoting economic diversification, and advancing the country's digital transformation goals.
Zawya
24-04-2025
- Business
- Zawya
Pay10 becomes first entity to go live on CBUAE's open finance framework
Abu Dhabi, UAE – Pay10, a leading Alternative Payment Method (APM) provider headquartered in the UAE announces that it has become the first fintech company to go live in production on the Central Bank of the UAE's (CBUAE) Open Finance Framework, authorizing it to provide payment initiation services including variable recurring payment. This milestone marks the first live launch of regulated Open Finance infrastructure in the UAE - preceding activation by any financial institution or fintech. The Open Finance authorization is Pay10's third regulatory license in the UAE, complementing its existing authorizations under the Retail Payment Services and Card Schemes (RPSCS) and Stored Value Facilities (SVF) frameworks. The approval of Pay10's production environment enables secure, real-time connectivity to bank accounts, laying the foundation for future innovation in data-driven financial services across the region. While Pay10 is now fully onboarded and operational, the broader impact of the Open Finance framework will be realized as licensed banking partners complete their integration into the ecosystem. Prabhpreet Singh Gill, Chairman of Pay10 stated: 'We are grateful to the Central Bank of the UAE for the trust placed in Pay10 following a rigorous and thorough regulatory process. Becoming the first fintech to go live in production on the Open Finance framework is both an honour and a responsibility. We recognize the importance of setting a standard - operationally, technically, and in governance - for those who follow. This milestone underscores the UAE's leadership in building a secure, interoperable financial ecosystem anchored in regulatory clarity and innovation.' Pay10's achievement reflects sustained alignment with regulatory requirements across technical, compliance, and operational domains. The company acknowledges the critical role of the Central Bank of the UAE in enabling a responsible and secure rollout. This license opens new pathways for secure third-party access to financial data, with significant implications for embedded finance, digital identity, interoperability, and broader financial inclusion. The Central Bank of the UAE issued the Open Finance Regulation in mid-2024, laying out a phased implementation strategy designed to enable secure access to customer-permissioned financial data through licensed third-party providers. The framework supports enhanced transparency, innovation, and interoperability within the financial sector, and is a key pillar of the UAE's broader digital economy and financial inclusion strategy. Against this backdrop, Pay10's platform now integrates all three core regulatory authorizations—RPSCS, SVF, and Open Finance - positioning the company to support a fully digital, interoperable financial services stack under the direct supervision of the Central Bank of the UAE. These licenses enable Pay10 to contribute meaningfully to the UAE's national development agenda by expanding access to financial services for unbanked and underserved populations, promoting economic diversification, and advancing the country's digital transformation goals. About Pay10 Founded in 2017, Pay10 is a financial technology company headquartered in the United Arab Emirates and operates under the supervision of the Central Bank of the UAE and is licensed to provide services under the Open Finance, RPSCS, and SVF frameworks. The company's Alternative Payment Method (APM) platform enables instant payments, merchant services, and real-time cross-border transactions. Designed to support national schemes and digital economies, the platform combines stored value, wallet-based transfers, and QR-driven payments into a single, seamless experience. Under the leadership of Chairman Prabhpreet Singh Gill (Harry Gill), the company delivers a secure, seamless, and scalable payments ecosystem designed to empower individuals, merchants, and enterprises. Operating in alignment with central bank mandates and national development agendas, Pay10 supports domestic payment schemes and advances financial inclusion across emerging and established markets. Its merchant-first approach offers lower transaction costs and instant settlements, helping businesses take control of their cash flow. With innovation, trust, and compliance at its core, Pay10 is reshaping the future of money - one transaction at a time. More information at
Zawya
02-04-2025
- Business
- Zawya
Al Ansari to launch digital wallet upon regulatory approvals
Dubai – Al Ansari Digital Pay, the fintech arm of Al Ansari Financial Services, recently secured final approvals from the Central Bank of the UAE (CBUAE) for both the Stored Value Facility (SVF) and Retail Payment Services and Card Schemes (RPSCS) licences, according to a press release. The licenses mark a pivotal step toward the official launch of Al Ansari's digital wallet, reinforcing the company's commitment to financial inclusion and driving the national vision of a cashless economy. Al Ansari Digital Pay is set to launch its comprehensive mobile application Al Ansari Wallet in the second quarter (Q2) of 2025, delivering an all-in-one fintech solution that will cater to both individual consumers and businesses. The platform will empower unbanked and underbanked communities with accessible and affordable financial services including micro-financing solutions, bridging the gap in digital payments for those who may not have access to traditional banking. This milestone follows the In Principle approval granted by the CBUAE, marking the final step before the official launch of operations. With the SVF license, Al Ansari Digital Pay can allow users to open digital accounts, offering customers a seamless, secure and efficient way to manage their funds digitally. On the other hand, the RPSCS license will enable the company to issue prepaid cards, facilitate merchant payments, and provide acquiring services for both online and retail businesses, further expanding its fintech capabilities. Deputy Group CEO at Al Ansari Financial Services, Mohammad Bitar, said: 'This milestone brings us closer to revolutionising digital payments in the UAE by offering a secure, convenient, and inclusive ecosystem.' Bitar added: 'As the financial landscape evolves, we are committed to staying ahead by integrating cutting-edge technology and innovative solutions that not only meet today's demands but also anticipate the needs of tomorrow.' Meanwhile, Al Ansari Digital Pay projects AED 12 million in total revenue for its first full year, with a substantial growth trajectory targeting a 67% compound annual growth rate (CAGR) by the third year. In addition, Al Ansari Wallet service offerings will complement the product suite of Al Ansari Financial Services businesses. It is worth noting that the parent company Al Ansari Financial Services recently unveiled a recommendation to distribute cash dividends worth AED 315 million for 2024. Source: Mubasher
