By the end of December 2021, India had 389 million users who did not have access to mobile Internet, while there were 765.8 million mobile Internet users in the country.
Nivedita Mookerji finds out how Paytm CEO Vijay Shekhar Sharma is handling his soaring popularity after the note ban as well as the criticism that comes as a package deal.
Microsoft has become the first global Big Tech company to join the Open Network for Digital Commerce (ONDC), an Indian government initiative for developing a first-of-its-kind open network for digital commerce. The world's second-largest technology firm intends to introduce social e-commerce via its app in the Indian market later this year. ONDC is expected to open to the public in Bengaluru over the next fortnight as it enters into the next phase of the pilot for further fine-tuning before rollouts in other cities, according to a source in the know.
Despite the rating agency CARE withdrawing the ratings assigned to the bank facilities of FIPL "with immediate effect" following the receipt of a no-objection certificate (NOC) from the banks, Modi's company received uninterrupted letters of undertaking (LoUs) from PNB, which were honoured by other banks until a few weeks ago.
A long and bitter funding winter in the start-up world is beginning to take its toll on start-up advertising across properties. Earlier this week, Mastercard replaced Paytm as the title sponsor for all international and domestic cricket matches organised by the Board of Control for Cricket in India (BCCI). But this is just one part of the story. The other side is that organisers of high-impact shows and events on Hindi general entertainment channels, too, are feeling the winter chill.
While its deposits from Iran accounts have come down from a peak of around Rs 25,000 crore to Rs 2,200 crore, it's been offset by the bank receiving almost Rs 24,000 crore in deposits post note ban.
There will be a lot to repair and rejuvenate -- if that opportunity even presents itself, warns Rathin Roy.
September 13 is the last date to apply for the Common Admission Test 2023. I always recommend to do the registration early on.
Go through the form carefully and be sure about all the data that you are intending to fill in, advises Aashish Sood.
'India's edtech and start-up story will be in danger.'
Missing the deadline for filing Income Tax returns can lead to consequences.
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
The AAP claimed that Sisodia would be arrested on Monday and alleged the move was initiated in view of the forthcoming assembly elections in Gujarat where it is in a direct contest with the BJP.
Chief Justice of India (CJI) D Y Chandrachud's first 100 days in office saw the Supreme Court take a giant leap towards reforms, especially making courts more technology-friendly, and ensuring relatively fast judicial appointments including those of eight judges to the apex court.
Surge in UPI transactions is because of an increased consumer interest in making bill payments and recharging mobile phones online, and purchase of non-essential goods on e-commerce platforms.
If Sebi and RBI remain quiet about this brazenly illegal activity, will someone in the finance ministry or the NITI Aayog take a closer look, asks Debashis Basu.
While taking gold out of the closet to borrow money is no longer taboo in Indian households, the sharp drop in gold prices is hitting the newest loan product on the banking turf hard, explains Tamal Bandyopadhyay.
This, Byju, was the time to apply the business lens, treat your company as a business, run your company as a business. Instead, you splurged, observes Suveen Sinha.
Paytm will not be available for download now but there will be no impact on existing users of the app. 'The app was blocked for violation of play policies - a clarification of our policy was released earlier today ahead of the IPL (Indian Premier League) tournament,' Google said in an e-mailed response on Friday.
India's economy grew at 7.6 per cent in 2015-16.
Leveraging global capital markets to give muscle to an innate competitive advantage in rapid mass transaction systems will lead to India becoming a petri dish for global enterprises and new-age innovation that it yearns to be.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
A whopping Rs 62,476 crore has been "illegally" transferred by smartphone maker Vivo to China in order to avoid payment of taxes in India, the Enforcement Directorate said Thursday, as it claimed to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies. This money is almost half of Vivo's turnover of Rs 1,25,185 crore, it said without stating the time period of the transaction. The crackdown on the leading Chinese company came after the federal probe agency found that three Chinese nationals, all of whom "left" India during 2018-21, and one other person from that country incorporated as many as 23 companies in India in which they were also helped by a Chartered Accountant, Nitin Garg.
Credit card payments to buy fuel at petrol pumps will from October 1 not get a 0.75 per cent discount that State-owned oil companies had introduced more than two-and-a-half years back to promote digital payments.
The incidence of corruption cases can be checked to a large extent if the suggestions already available with RBI and the government are taken seriously, says Shyamal Majumdar.
Of the 1,145 offers made this year, consulting firms made up 34 per cent, followed by banking, financial services and insurance, pharma/healthcare, IT/ITeS and FMCG/retail.
Flipkart Group on Monday said it has raised $3.6 billion (about Rs 26,805.6 crore) in funding led by GIC, Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2 and Walmart, valuing the e-commerce giant at $37.6 billion. The company, which competes with Amazon, Reliance Industries' JioMart and others in the burgeoning Indian e-commerce market, said it will continue to make deeper investments across people, technology, supply chain and infrastructure to address the requirements of a rapidly growing consumer base in the country. The current funding round has also seen participation from sovereign funds DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad as well as marquee investors Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global.
The 30-share Sensex ended down 208 points at 28,261 and the 50-share Nifty closed 64 points lower at 8,571.
A few days back, Finance Minister Nirmala Sitharaman urged the start-up community and public to deal in cryptocurrency with caution because everything that was floating around was not currency. In the first week of August, the country's top nine crypto exchange platforms were summoned by the Directorate of Enforcement (ED) in Hyderabad. The exchanges were questioned for money laundering, especially over a number of Indian non-banking financial companies and their fintech partners for predatory lending practices in violation of the Reserve Bank of India (RBI) guidelines and by using tele-callers who misuse personal data and use abusive language to extort high interest rates from the loan takers.
After dropping to a low of Rs 1,298 apiece, the stock finished at Rs 1,380, its lowest level since November 22, the second day of listing.
I was offered Delhi CM's post or face jail term, Sisodia said.
Stressed MSME borrowers would be eligible for restructuring of debt, if their accounts were classified standard.
Patra, as executive director of the central bank, was the principal advisor to the Monetary Policy Department since July 2012.
'The finance minister said, the MSME is the backbone of the economy. My question is, what have you done for the sector?'
Basil had negotiated the Indian economic relief package to help Sri Lanka tackle the current foreign exchange crisis.
The cap of Rs 10,000 on daily withdrawal has also been removed.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
The government on Monday issued a letter of intent (LoI) confirming the sale of its 100 per cent stake in loss-making Air India to Tata Group for Rs 18,000 crore, a senior official said. Last week, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of salt-to-software conglomerate, to pay Rs 2,700 crore in cash and takeover Rs 15,300 crore of the airline's debt. Subsequent to that, an LoI has now been issued to Tata confirming the government's willingness to sell its 100 per cent stake in the airline.
The agency is also examining the documents seized during raids at 31 places including the residence of Delhi Deputy Chief Minister Manish Sisodia on Friday, they said.
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