BUSINESS
Orbo AI Lands Rs 1 Crore Deal on Shark Tank India 3 with Vineeta Singh
In today's digital age, technology has seamlessly integrated into various aspects of our lives, making beauty brands and services more accessible than ever before. With Beauty AI, driven by AI and AR, consumers can now experience real-time virtual try-ons from the comfort of their homes, transforming the traditional shopping experience.
Foreign Portfolio Investors Offload Holdings Worth Rs 29,519 Crore in Current Fiscal Year
During February up to the 16th, FPIs divested equity holdings amounting to Rs 6,112 crores through exchanges. However, investments in 'the primary market and others' mitigated the net selling figure for the same period to Rs 3,775 crores. Overall, in the year 2024, FPIs have offloaded holdings worth Rs 29,519 crores.
Paytm's QR, Soundbox, and Card Machine to Remain Operational Post March 15; Nodal Accounts Transitioned to Axis Bank
This assurance comes hot on the heels of the Reserve Bank of India (RBI) releasing a set of Frequently Asked Questions (FAQs) confirming that Paytm's merchant payment devices will not be affected and will continue to function normally.
RBI Asks Paytm Payments Bank Customers to Shift Accounts to Other Banks by March 15
Customers of PPBL are encouraged to transfer their account balances, including savings, current accounts, prepaid instruments, FASTags, and National Common Mobility Cards, to alternative banks before March 15. The RBI emphasizes that withdrawals and utilization of balances from PPBL accounts will continue to be permitted without restrictions beyond this date.
Global mobility fintech startup Moove raises $10 mn to expand India footprint
According to a statement released by the startup, this funding round aims to leverage the momentum gained by completing over 4.2 million trips, a feat that has had a substantial impact on India's mobility landscape.
Reserve Bank Directs Visa and Mastercard to Halt Commercial Card Transactions
Visa has confirmed receipt of the communication from the regulator on February 8, while awaiting a response from Mastercard on the matter. This development closely follows the RBI's initiation of regulatory measures against Paytm Payments Bank.
Enforcement Directorate Questions Paytm Executives, Receives Documentation Regarding Recent RBI Measures
The central agency is currently in the preliminary stages of examining these documents as part of a potential formal investigation under the Foreign Exchange Management Act (FEMA), prompted by alleged irregularities flagged by the RBI.
Bihar Government Unveils Rs 2.79 Lakh Cr Budget with 'Highest' Growth Rate in Country Surpassing 10%
Deputy Chief Minister Samrat Choudhary, who also oversees the finance portfolio, proudly announced the government's success in uplifting 2.5 crore people from poverty in the preceding financial year, showcasing a commitment to overall development. Significant allocations were earmarked for various sectors, including education, health, rural development, welfare schemes, urban development, and strengthening of panchayati raj institutions.
India-UAE Collaboration: UPI RuPay Card Launched in Abu Dhabi by PM Modi and President Sheikh Mohamed bin Zayed Al Nahyan
President Nahyan initiated the service by swiping a card personalized with his name, symbolizing the commencement of this innovative financial service in the capital.
Reserve Bank to Release FAQs Addressing Paytm Payments Bank Measures
RBI Governor Shaktikanta Das emphasized the importance of addressing customer issues promptly, stating, “Wait for FAQ that will have a set of clarifications related to customers of PPBL as our priority is customers should not be inconvenienced. Customer interest and depositors interest is uppermost for us.”
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