BUSINESS
Teen-focused neo-banking platform Akudo to shut down operations
According to Entrackr, citing sources, the decision comes in response to a Reserve Bank of India (RBI) directive that prohibited the use of the Unified Payments Interface (UPI) in a co-branding arrangement.
Funds raised through equity shoot up 42.7% in August
Equity issuance raised Rs 15,698 crore in August 2023 up from Rs 11,000 crore in July 2023, while debt issuance raised Rs 48,836 crore down from Rs 54,269 crore a month ago, according to the Securities and Exchange Board of India Bulletin released on Friday.
Malaysia’s Petronas poised to clinch $1.6 bn deal for stake in India’s AM Green
Petronas is in an advanced state of negotiations that value AM Green at $6 billion, the report said citing people in the know of thngs.
Must ensure rupee remains competitive after inclusion in bond index, says Chief Economic Adviser
However at the same time, he cautioned that the main challenge would be to ensure that the rupee remains competitive, as there is a natural tendency for the Indian currency to appreciate.
Mumbai airport to shut for post-monsoon runway repairs on Oct 17
For the comprehensive runway repairs, both runways – 09/27 and 14/32 – will be temporarily non-operational for all flight operations at the designated timings.
Delta Corp asked to pay Rs 11,139 cr for payment of shortfall tax under GST
Delta Corp received an intimation for payment of shortfall tax under Section 74(5) of the CGST Act, 2017 and Goa SGST Act, 2017 from the Directorate General of GST Intelligence, Hyderabad, on Friday.
India can gain $24 bn in foreign inflows from June next year
JPMorgan Chase & Co.'s decision to add Indian government bonds to its benchmark emerging-market index is a highly anticipated event that carries significant implications for the nation's debt market. With India receiving a 10% allocation in the $240 billion index, this move has the potential to attract billions of foreign inflows, he said.
Under selling pressure through the week, Nifty falls 2.8% from all-time high
This recent correction has caused it to dip below the critical 21-day Exponential Moving Average (21EMA). The sentiment appears bearish at this point, with a key support level identified at 19,600, De said.
Nifty’s sharpest weekly fall since Feb 20
Nifty fell on September 22 but showed signs of near term bottom formation. A fall below 19645 could take the Nifty to 19460-19480 band while on rises, Nifty could face resistance at 19849 for the near term.
SC asks SpiceJet to pay $1 million/month to Credit Suisse for the next six months
A bench of Justices Vikram Nath and Ahsanuddin Amanullah said that in addition to the regular payment of $500,000 per month, the budget airline will also clear arrears of $3 million in six installments, thus making an effective transfer of $1 million every month to Credit Suisse.
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