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Paytm To Form Advisory Committee On Regulatory Matters Amid RBI Clampdown

Reuters | Friday February 09, 2024, Mumbai

Paytm will form an advisory committee on compliance and regulatory matters, the payments firm said on Friday, a week after India's central bank ordered its banking affiliate to wind down.

Paytm Bank's Low Drop-Off In transactions May Prompt Deadline Extension: Report

Reuters | Friday February 09, 2024, Mumbai

Paytm Payments Bank, which India's central bank has ordered to wind down by Feb. 29, is seeing transactions it handles slowly drop off as customers are uncertain what will happen in March, according to two sources directly aware of the matter.

Interim Budget 2024-25 Explained: Key Insights In Graphs

Gaurav Dwivedi | Friday February 09, 2024

Total receipts, excluding borrowings, are projected at Rs 27.56 lakh crore, with the revised estimate showcasing a revenue receipt of Rs 30.03 lakh crore.

Non-Bank Lenders Must Watch Underwriting, Concentration Risks: RBI Top Official

Reuters | Friday February 09, 2024, Mumbai

India's non-banking financial companies (NBFCs) should be mindful of their underwriting practices and risks emerging from lending concentrated in one segment, Reserve Bank of India (RBI) top official said on Friday.

India Playing Global Role In Energy Transition: US Industry Body

Asian News International | Friday February 09, 2024, Panaji

The US-India Business Council (USIBC) led a high-powered business delegation to the second edition of India Energy Week 2024 in Goa and appreciated India's 'global role' in advancing energy transition for the world.

In A First, India Delivers Made-In-Hyderabad Hermes Drones To Israel

NDTV News Desk | Friday February 09, 2024, New Delhi

India's first private drone manufacturing facility, located in Hyderabad, has made significant strides in establishing India's as a defence manufacturing hub.

Gautam Adani Secures Ore for $1.2 Billion Copper Smelter In Gujarat's Mundra

P R Sanjai and Swansy Afonso, Bloomberg | Friday February 09, 2024

Billionaire Gautam Adani's conglomerate has signed contracts to buy 1.6 million tons a year of copper concentrate for the world's largest single-location smelter for the industrial metal.

After RBI Crackdown, EPFO To Halt Claims Made Via Paytm Payments Bank

Reuters | Friday February 09, 2024, New Delhi

India's state-run social security fund, EPFO, will halt claims made via Paytm Payments Bank accounts from Feb. 23, as the central bank imposed restrictions on the payments bank due to persistent irregularities, a government order said.

What RBI Governor Said On Strict Action On Paytm Payments Bank

Edited by Abhimanyu Kulkarni | Thursday February 08, 2024, New Delhi

The Reserve Bank of India today said that the clampdown on Paytm Payments Bank was a result of persistent non-compliance of the regulator's norms.

From Unchanged Key Rate To GDP Growth: RBI Governor's 10 Big Announcements

Edited by Samiran Mishra | Thursday February 08, 2024, New Delhi

Reserve Bank of India (RBI) Governor Shaktikanta Das today provided a comprehensive overview of the domestic and global economic landscape, highlighting key aspects of India's financial health and outlining the central bank's policies and priorities.

Gautam Adani Enters $100 Billion Club Again, Year After Short-Seller Attack

Edited by Chandrajit Mitra | Thursday February 08, 2024

Industrialist Gautam Adani's fortune has hit $100 billion again, a year after his group's share prices saw an unprecedented rout sparked by Hindenburg Research's market manipulation charges. Adani Group now stands cleared of all charges.

RBI Keeps Key Lending Rate Unchanged At 6.5% For 6th Straight Time

Reuters | Thursday February 08, 2024, Mumbai

The Reserve Bank of India kept key lending rate unchanged on Thursday for a sixth straight meeting, in line with expectations, as inflation stayed above the 4% medium-term target while economic growth remained resilient.

Startup Zededa Raises $72 Million To Power AI Tools

Sarah McBride, Bloomberg | Wednesday February 07, 2024

Zededa, a startup that makes enterprise computing tools, said it has raised $72 million, underscoring investor eagerness to back businesses enabling the smooth operation of artificial intelligence.

Hyundai Said To Be Considering One Of India's Biggest Ever IPOs

Baiju Kalesh and Manuel Baigorri, Bloomberg | Tuesday February 06, 2024

Hyundai Motor Co. is considering an initial public offering for its India unit that may raise about $2.5 billion, according to people familiar with the matter, potentially making it one of the biggest listings ever in the South Asian country.

What Went Wrong With Byju's, Which Was Once Valued At $22 Billion

Edited by Abhimanyu Kulkarni | Tuesday February 06, 2024, New Delhi

Byju's, run by billionaire CEO Byju Raveendran, was the poster child of India's startup ecosystem. But in the last year, the company's valuation has seen a sharp decline with several of the company's investors now calling for leadership change.