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DeFi Lending Protocol Compound Launched its Compound III Version

Decentralized Finance (DeFi) lending protocol Compound has announced that it has officially launched its Compound III (V3) on the Ethereum mainnet. Compound III is an EVM-compatible protocol that enables supplying crypto assets as collateral to borrow the base asset. Unlike in the past, this new version only supports one “underlying asset” for lending. It provides other encrypted assets as …

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NFT Lending Protocol Bend DAO Proposes New Measures against Bankruptcy Crisis

Subject to the bankruptcy crisis caused by depleted Ethereum reserves, NFT lending protocol Bend DAO has proposed new emergency measures pending a governance vote. The NFT lending protocol provides asset collateral for NFT holders by using their NFT assets as collateral to borrow ETH. When someone deposits an NFT into BendDAO, they can borrow up …

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India aims to copy China, but unbridled digital lending off policy agenda

There’s a lot about Beijing’s decades-long infrastructure push and investment-led growth that India wants to emulate. But when it comes to the consumer economy, aping China’s out-of-control digital lending boom is strictly off the policy agenda. The Reserve Bank of India’s recently released guidelines for app-based loans show a clear desire to rein in the …

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LIC Housing Finance, Bajaj Housing Finance hike lending rates by 0.50%

MUMBAI: Mortgage lenders Bajaj Housing Finance and LIC Housing Finance on Monday announced a 0.50 per cent hike each in their lending rates. The revisions come amid a rising interest rates scenario, which has seen the RBI hiking its key lending rate by 1.40 per cent since May to tame inflation. Bajaj Housing Finance hiked …

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MeitY in talks with Play Store on digital lending app malpractices

The Ministry of Electronics and Information Technology (MeitY) is currently in consultation with Google Play to find a way to curb malpractices by digital lending apps. The options may include restricting the apps from accessing user data, people in the know said, although some officials believe the issues can only be tackled case by …

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China steps up easing, cuts lending benchmarks to revive faltering economy

China cut its benchmark lending rate and lowered the mortgage reference by a bigger margin on Monday, adding to last week’s easing measures, as Beijing boosts efforts to revive an economy hobbled by a property crisis and a resurgence of Covid cases. The People’s Bank of China (PBOC) is walking a tight rope in its …

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Digital lending norms: Direct credit to a/c, sans third party

Aiming to curb rising malpractices in the digital lending ecosystem, the Reserve Bank of India (RBI) on Wednesday issued guidelines for entities engaged in digital lending, with the norms stating that all digital loans must be disbursed and repaid through bank accounts of regulated entities only, without pass-through of lending service providers (LSPs) or other …

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Maven 11 Launches $30m Loan Pool on Defi Lending Protocol Maple Finance

Defi lending protocol Maple Finance has launched a $30 million liquidity pool backed by Netherlands-based crypto-native investment firm Maven 11. Maven 11 announced that the launch of the loan pool is designed to help institutional businesses seek income opportunities. A $30 million pool of funds funded by institutional lenders will provide liquidity to borrowers used …

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