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Proposed Arbitration and Conciliation (Amendment) Bill, 2024: A Transformational Shift for Financial Dispute Resolution in BFSI

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Credgenics partners with Jupiter Council for Arbitration and Mediation (JCAM) for ODR in BFSI financial disputes

 NEW DELHI, Dec. 4, 2024 /PRNewswire/ — In today’s fast-paced digital era, the banking and financial services industry requires the ability to resolve financial disputes swiftly, transparently, and cost-effectively. Disputes, particularly those involving debt collections and financial recoveries, impose significant burdens on both lenders and borrowers, leading to prolonged litigation, elevated costs, and a loss of trust in the system.

To address these issues, the Arbitration and Conciliation (Amendment) Bill, 2024 has been introduced and is aimed at transforming the dispute-resolution landscape in the commercial and BFSI  sectors.

The Bill seeks to tackle the challenges posed by India’s traditionally slow dispute-resolution processes through Alternative Dispute Resolution (ADR) mechanisms. These proposed amendments aim to expedite dispute resolution, reduce associated costs, and restore confidence in the system by creating a more efficient and reliable globally accepted framework for resolving financial disputes in these critical sectors.

Key Features of the Proposed Bill

The Bill incorporates critical provisions to improve the arbitration framework. These features are  particularly beneficial for BFSI disputes resolution.

Minimized Court Intervention: The Bill curtails unnecessary judicial involvement, allowing disputes to be resolved more quickly and efficiently.Enhanced Procedural Efficiency: Faster arbitration processes reduce recovery costs and alleviate the burden on lenders and borrowers alike.Prioritization of Resolving Disputes The provisions ensure that high-priority cases are addressed promptly, meeting the demand for swift and efficient resolutions. By adopting these measures, the Bill aims to provide a structured, fair, and transparent mechanism for resolving disputes, ensuring mutual benefits for all stakeholders.

Jupiter Council for Arbitration and Mediation (JCAM) has emerged as a key player for financial dispute resolution in this evolving landscape of ADR that is rapidly becoming a preferred model across the globe. JCAM’s unique institutional arbitration framework for financial disputes is tailor-made to align with the objectives of the proposed Bill. In partnership with Credgenics, the leading platform for debt collections and resolution, JCAM delivers an integrated solution that addresses the unique challenges of BFSI financial dispute resolution.

JCAM’s framework is designed to provide:

Cost-effective Resolutions: Affordable arbitration processes reduce the financial burden on BFSI retail lenders and borrowers.Speedy Proceedings: Accelerated timelines for initiating, managing and concluding arbitration.Transparency and Neutrality: A fair and impartial system that inspires trust and confidence among disputing parties.

Alignment with Supreme Court Rulings
Recent judgments by the Supreme Court reinforce the principles of fairness and impartiality in arbitration, making JCAM’s framework even more relevant. Key highlights of these rulings include:

Prohibition of Unilateral Arbitrator Appointments: JCAM’s model is inherently compliant with this mandate, offering a structured and transparent process for arbitrator appointments. Through JCAM, parties benefit from an impartial selection mechanism that upholds trust and neutrality in every dispute resolution.Encouragement of Institutional Arbitration: Institutional frameworks, like JCAM, are recognized and encouraged for their fairness and efficiency.Recognition of Arbitral Awards: Decisions made through arbitration are fully admissible and enforceable in judicial and execution courts, boosting their credibility.

JCAM integrates these principles into its end-to-end solutions, utilizing Online Dispute Resolution (ODR) capabilities to ensure impartial and seamless arbitration processes. Customers can schedule seamless virtual hearings, access and download recordings / transcripts for completed meetings. JCAM with its user-friendly and simple interface also allows lenders to host and send legal communications and case proceedings for borrowers to respond and interact.

 Reflecting on these developments, Mayank Khera, Co-Founder & COO of Credgenics, highlighted the significance of the proposed Bill, “The proposed Arbitration and Conciliation (Amendment) Bill, 2024, is a major milestone for the BFSI sector. By embracing institutional arbitration and ODR platforms like JCAM, we are enabling banks and other non-banking lenders to resolve financial disputes with unmatched efficiency and transparency. The digital enablement not only reduces resolution timelines and costs but also builds trust in the dispute resolution process. At Credgenics, we are committed to providing a modern framework that aligns with such forward-looking reforms and strengthens the financial ecosystem.”

The Arbitration and Conciliation (Amendment) Bill, 2024 sets the stage for a transformative era in BFSI dispute resolution. By streamlining arbitration procedures and reducing reliance on courts, it promises quicker recoveries and lower litigation costs. Meanwhile, platforms like JCAM ensure that the financial dispute resolution processes remain fair, neutral, and transparent.

As the BFSI sector prepares for the Bill’s enactment, the collaboration between institutions like JCAM and industry leaders such as Credgenics underscores a shared commitment to building an equitable, efficient, and trustworthy financial dispute resolution system. These reforms not only address current challenges but also lay the foundation for a more robust financial ecosystem.

Reference: 
Jupiter Council for Arbitration and Mediation (JCAM): https://jcam.co.in/
Credgenics: https://www.credgenics.com/

Logo: https://mma.prnewswire.com/media/2573215/JCAM_Logo.jpg
Logo: https://mma.prnewswire.com/media/1844975/5060315/Credgenics_Logo.jpg

 

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LianLian Global and PayPal Power Cross-Border Payouts for Social Commerce, Marketplace, and eCommerce Customers

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October 23, 2026

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Social commerce, marketplaces and eCommerce players served by LianLian Global can now pay creators, influencers, developers, and independent contractors directly to their PayPal and Venmo wallets.

NEW YORK, Oct. 22, 2026 /PRNewswire/ — LianLian Global  today announced it has partnered with PayPal (NASDAQ: PYPL) to enable its social commerce, marketplace and e-commerce clients to send payouts directly to PayPal accounts globally and to Venmo accounts in the U.S.

The creator and gig economy runs on fast, low-friction payouts. Brands are expected to spend $32.6 billion on creators in 2026 and roughly 50 million people worldwide create content professionally or semi-professionally (Gigapay Global Creator Economy Report 2026). Many of these recipients already hold a PayPal or Venmo account: PayPal had over 400 million active accounts across approximately 200 markets at the end of Q2 2026, and Venmo reached 67 million monthly active accounts in Q4 2025.

Paypal Payouts is live in 96 global markets and 24 currencies. It allows merchants to send to any email address, mobile number, or Venmo user handle, with or without an existing PayPal or Venmo account.

To support enterprises expanding globally, LianLian Global provides digital payment services including pay-in, pay-out, acquiring, foreign exchange, virtual cards and payment aggregation. To date, its parent company Lianlian DigiTech has served more than 13.3 million clients. Its services reach more than 200 countries and regions, support transactions and settlement in more than 140 currencies, and connect with more than 180 global e-commerce platforms.

The partnership combines LianLian Global’s cross-border collection, FX and compliance infrastructure with PayPal’s global wallet network. Key offerings include:

Pay to PayPal: Payouts from LianLian Global clients to PayPal account holders in 96 markets, using only the recipient’s email or phone numberPay to Venmo: Domestic U.S. payouts to Venmo users, including creators, influencers and independent contractorsPayPal Payouts for Platforms: Mass disbursements for social commerce, marketplaces and affiliate platforms paying large numbers of sellers, creators and contractorsSpeed to settle: Save time and money by eliminating check runs and postage; no need for routing numbers and bank accounts.

Sandra Lam, Deputy CEO of US at LianLian Global: “Social commerce is creating a new economy, where creators, influencers and independent sellers drive discovery and sales alongside the platforms they sell on. Paying these participants fast, across borders and in small amount is what powers the network effect of social commerce. We see our work with Paypal as a key step in building the payout rails for the global gig economy.”

The collaboration expands LianLian Global’s payout coverage and supports its growth in the U.S. and global markets as cross-border platforms scale their creator and contractor programs.

View original content:https://www.prnewswire.com/news-releases/lianlian-global-and-paypal-power-cross-border-payouts-for-social-commerce-marketplace-and-ecommerce-customers-302917635.html

SOURCE LianLian Global

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Crab2B Debuts as Hong Kong’s First Dedicated B2B Platform for Mobile Electronics

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October 23, 2026

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HONG KONG, Oct. 23, 2026 /PRNewswire/ — With the global population surpassing 8 billion, mobile electronics have become essential to modern life, with smartphones now used by billions of people. Across approximately 13,861 cities worldwide, electronics wholesalers play a vital role in the supply chain. Among the world’s three major wholesale hubs for digital electronics, Dubai serves the Middle East and Africa, Miami connects markets across Latin America, and Hong Kong draws strength from its unique position linking mainland China with global markets. According to Hong Kong Customs data, re-exports of used mobile phones from Hong Kong reached 51.5 million units in 2025, while the total value of electronics exports hit HK$3.9216 trillion. Yet despite its value running into the trillions of Hong Kong dollars, it has long lacked a dedicated online platform.

Crab2B was created to fill this gap as Hong Kong’s first B2B platform dedicated to mobile electronics. Inspired by Alibaba’s online B2B marketplace model, the platform focuses on consumer electronics, bringing together hundreds of thousands of buyers and sellers worldwide and enabling them to connect directly.

Crab2B covers a broad range of products, including smartphones, tablets, laptops and other smart devices. Listings span brand-new and used devices, as well as certified pre-owned (CPO) and as-is products. The platform also connects buyers and suppliers with service providers offering product inspection, international logistics and repair services. Users can search for products by brand and model, while all merchants undergo rigorous verification before joining the platform. With these safeguards in place, Crab2B is designed to meet the needs of businesses across the value chain, protect the interests of both buyers and sellers, and facilitate mutually beneficial transactions.

Building on Hong Kong’s established trading network, Crab2B made its debut at the HKICEC Global Mobile Exchange Pavilion during the Global Sources Hong Kong Shows, held at AsiaWorld-Expo from October 18 to 21, 2026, where it also launched the Crab2B app. Looking ahead, Crab2B will remain firmly rooted in Hong Kong while expanding its global reach, continuing to refine the platform to deliver a smarter, more comprehensive digital marketplace for mobile electronics. By helping international buyers identify suitable suppliers, simplifying cross-border sourcing and reducing transaction costs, Crab2B aims to support the continued growth of Hong Kong’s digital trade sector and contribute to the city’s long-term prosperity and stability.

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SOURCE CRAB 2B TECHNOLOGY INVESTMENT CO., LIMITED

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AiMOGA Launches Global Robot Innovation: Mobo Debuts from Wuhu, Empowering Homes and Businesses

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October 23, 2026

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KUALA LUMPUR, Malaysia, Oct. 23, 2026 /PRNewswire/ — AiMOGA Robotics has officially launched Mobo, its first consumer-grade humanoid family companion robot, marking a new chapter in intelligent living for Malaysian households and enterprises. Unveiled globally from AiMOGA’s headquarters in Wuhu, China, during a joint international users summit with its sister brands, this groundbreaking product reflects the company’s commitment to worldwide innovation and technological excellence.

Standing 0.9 meters tall with 22 degrees of freedom, Mobo supports over 20 languages—including Bahasa Malaysia—and delivers rich, personalized interactions. Designed for family life, it offers children interactive learning, storytelling, and object recognition, while providing elders with conversational companionship and customizable reminders. Powered by MoAgent, AiMOGA’s embodied intelligence system, Mobo features a dual-brain architecture enabling real-time responses, multi-tasking capabilities, and adaptive learning through facial recognition and secure MogaCloud integration.

Peng Xia, AiMOGA Robotics Executive Vice President, said Mobo’s spatial perception, interaction, execution, decision-making, and cognition layers form a perception-decision-execution-feedback loop. Spatial memory enables object retrieval, while social navigation recognizes pedestrian paths and interaction zones. Multimodal technologies coordinate language, facial expressions, and movement for natural interaction.

Beyond home use, Mobo shows strong potential in professional settings—from customer service to logistics—supporting AiMOGA’s vision of integrating robotics into everyday workflows.

Since its debut in August 2026, Mobo has attracted over 10,000 prospective users. Thirty-five were selected as Global User Experience Officers, receiving one year of complimentary use to help shape future improvements.

At the event, Guibin Zhang, AiMOGA Robotics General Manager, outlined strategies in R&D, cost optimization, sales and leasing. The “Platform Institute + Scenario Institute” model drives validation for bipedal, quadruped, and wheeled robots. Plans include 300 global experience centers and “Jia Tian Xia”, a robot leasing brand launching in Wuhu. Leveraging Chery’s manufacturing and platform resources enhances cost efficiency and scalability.

Notably, AiMOGA’s impact in Malaysia is amplified through strategic collaboration with sister brands Chery, OMODA & JAECOO, iCAUR, and LEPAS. Their partnership extends far beyond vehicle showrooms and daily operations—jointly developing integrated smart ecosystems that span mobility, retail, smart offices, and connected living.

As part of a global rollout with over 3,000 units deployed across 60+ markets, this initiative aims to bring intelligent, accessible robotics to more Malaysian families and businesses—enhancing productivity, convenience, and quality of life.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/aimoga-launches-global-robot-innovation-mobo-debuts-from-wuhu-empowering-homes-and-businesses-302917658.html

SOURCE AiMOGA Robotics

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