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Fintechs react to tightening loan norms; taking care of mental health


It’s the final countdown.

Today, India will face off against Australia in the Cricket World Cup. Will hosts India lift their third trophy in front of 130,000 fans at the Narendra Modi Stadium in Ahmedabad or will Australia win the cup for the sixth time?

It’s an action-packed weekend!

The big news on Saturday was how AI firm OpenAI unceremoniously removed Sam Altman from the company he co-founded.

Former OpenAI president and chair Greg Brockman posted on X, sharing his version of how the departure unfolded.  

In other news, The Government of Karnataka has announced a call for the second edition of Idea2PoC/ELEVATE scheme.

Launched by the Department of Electronics, IT, BT, and S&T, Government of Karnataka, the scheme helps identify and nurture innovative startups and aims to provide them with the necessary boost at various stages through funding or mentoring. 

In today’s newsletter, we will talk about 

  • Fintech companies and unsecured loans 
  • Time to take care of the soul
  • The best of Delhi in 24 hours

Here’s your trivia for today: In which year were the first laws of cricket believed to have been written?


Fintech cos and unsecured loans

How to Apply Personal Loan in IDFC First Bank through Online?

The Reserve Bank of India (RBI) on Thursday tightened norms for personal loans and credit cards in the form of higher capital requirements for banks and non-banking finance companies (NBFCs). 

Loan costs are expected to increase marginally by 5-8% across the sector, depending on fintechs-NBFC contracts, while loan disbursals are likely to drop by 10-15%. Both factors have added to the worries of digital lenders. 

Counting money:

  • Companies such as Paytm, PhonePe, Cred, and Google have been eyeing a large piece of the segment and striking co-lending partnerships with NBFCs to disburse personal loans. 
  • Many feel that the latest move will have fintechs re-evaluate frivolous lending practices and shift towards more secure lending products. 
  • Analysts at global brokerage CLSA believe RBI’s latest move could marginally impact the growth rates of fintech intermediaries like Paytm. However, Jefferies says banks raising interest rates may hurt Paytm’s earnings.

Mental health

Time to take care of the soul

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Late actor Matthew Perry

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Late actor Matthew Perry

When actor Matthew Perry was found dead in October, fans and TV viewers across the world were left stunned. Perry symbolised success and a spark of joy to countless people who have watched him lovingly bumble through Friends, the iconic TV sitcom that remains a global hit. 

Perry’s death reignited conversations on social media and in mental health-related forums about depression, anxiety and addiction.


  • Paula Corcoran, a psychology lecturer at City University, London finds this kind of attention useful to bring mental health issues to centre-stage.
  • Deepika Padukone has owned up to her battle with depression, focusing on it with her philanthropic efforts with the Live, Love, Laugh Foundation.
  • Be it Kurt Cobain, Amy Winehouse, Sinead O’Connor, or Robin Williams, the cycle of depression, anxiety, and dependence on drugs and substances has often cost the lives of much-adored, talented performance artists.


The best of Delhi in 24 hours

Delhi travel

A stark contrast to the vibrant alleyways of Old Delhi is the newer part of the city, filled with showrooms and fashion boutiques, massive shopping malls, museums, restaurants and bars, and nightclubs.  

While exploring the city in a day is difficult, YS Life has curated a list of must-see places to satiate your appetite for the city, until your next visit. 

Top picks:

  • Kathika Cultural Centre, a haveli-turned-museum, is nestled in the heart of old Delhi, where history comes alive through the mesmerising art of dastangoi and katha wachan storytelling traditions.
  • Acknowledged by UNESCO and awarded with the Asia-Pacific Awards for Cultural Heritage Conservation, Haveli Dharampura is punctuated with intricate woodwork on the rooftop. Its antique balconies and jharokas are often populated with a swarm of pigeons cooing away. 
  • Don’t miss out on the weirdest place on the list. The national capital has the Sulabh International Museum of Toilets which has a rare collection of facts, images and objects, showcasing the historic evolution of toilets from 2500 BC to date. 

News & updates

  • Thermonuclear: X Corp, formerly known as Twitter, will file a lawsuit against Media Matters and those who attacked social media platform X, Elon Musk said on Saturday in a post on the platform, soon after major US companies paused their advertisements on the site.
  • Restructuring: Citigroup employees expect announcements about management changes and layoffs on Monday in the next phase of the bank’s sweeping reorganization, according to four people familiar with the situation.
  • Starship: SpaceX’s uncrewed spacecraft Starship, developed to carry astronauts to the moon and beyond, reached space for the first time on Saturday but was presumed to have failed minutes later.

In which year were the first laws of cricket believed to have been written?

Answer: 1774. It is generally believed that in February 1774 the very first official laws of cricket were drawn up and adopted throughout England. The first reference to cricket being played as a sport was in 1611. 

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