Paytm (One 97 Communications Ltd) has stated that the Reserve Bank of India's action on Paytm Payments Bank Ltd (PPBL) has no financial or business impact on the company. The fintech firm clarified it has no material business arrangements or exposure with the banking entity, which operates independently.
The company, which finds itself at the centre of the real estate scam, as alleged by the Central Bureau of Investigation, is housed in a dilapidated building, and from the exterior, nobody can ever guess that the fourth floor of MMFSL would be so swanky.
An EY India report suggests that banks must compete on customer experience and evolve physical branches into phygital advisory hubs. The report highlights the importance of anticipating customer needs and blending digital tools with human interaction.
Shares of Indian life insurance companies, particularly SBI Life Insurance and Canara HSBC Life Insurance, saw significant declines after the Department of Financial Services (DFS) secretary, M Nagaraju, stated that banks are being asked to avoid exclusive tie-ups with their own insurance subsidiaries and instead remain neutral.
Bajaj Finserv announced a strategic initiative to invest up to Rs 2,000 crore in artificial intelligence and technology-led startups over the next five years, along with a collaboration with IIT-Bombay for joint research.
Money Matters Financial Services, whose managing director and two top executives were arrested by the Central Bureau of Investigation in relation to real estate scam, did a debt syndication for at least four real estate companies to the tune of Rs 5,300 crore (Rs 53 billion) since April 2008, an analyst report said.
Kerala Home Minister Ramesh Chennithala has condemned the violent attack on Enforcement Directorate (ED) officials' vehicles, alleging a CPI(M) conspiracy to disrupt law and order. He asserted that those involved will face stringent legal action, regardless of their status.
'We are staying away from making forward-looking statements on when we will reach 1 trillion, etc. But growth will be rapid; it's only a matter of time.'
Kerala Home Minister Ramesh Chennithala has alleged that the violent attack on Enforcement Directorate (ED) officials' vehicles was a conspiracy by the CPI(M) to disrupt law and order. The ED raids were linked to financial dealings between former CM Pinarayi Vijayan's daughter's firm and a sand mining company.
'We are targeting a 2.5x to 3x increase in valuation by FY31.'
After spending 31 months in Chennai's Puzhal prison, Ahmed Buhari is finally breathing free, as courts across the country quashed proceedings linked to his group company Coastal Energy.
An FIR has been registered against unknown individuals for allegedly sending fraudulent messages in the name of e-commerce platform Udaan, promising cash rewards and disrupting its operations.
Rapid growth in personal gold loans has raised concerns over borrower leverage, large-ticket exposure and volatility in gold prices, points out Swaminathan J, Deputy Governor, Reserve Bank of India.
'Money is not just about greed or accumulation. It gives you freedom, dignity and choice. And you have every right to all three.'
Rising stressed debt and past exposures like Reliance Capital, Yes Bank push EPFO to frame exit rules for its portfolio.
Former HDFC Bank chairman Atanu Chakraborty cites misselling of AT-1 bonds and underperformance as key reasons for his resignation, dismissing personal differences as a major factor.
India is conducting a special audit of 101 cities to assess ease of living from the citizen's perspective, Comptroller and Auditor General K Sanjay Murthy said.
Unified Payments Interface (UPI) transaction value and volume saw a slight month-on-month dip in April after record highs in March, but daily transaction volumes increased, indicating sustained growth in digital payments across India.
The Financial Times, citing multiple bankers and shareholders, reports that the real tensions ran far deeper than compliance concerns.
'Every year we import approximately $70 billion worth of gold -- closer to $72 billion in 2025-2026, an all-time record.' 'There is no parallel for this anywhere in the world. And this love for gold will not disappear overnight.'
'Once the currency goes out of the hand, then possibly your major challenge is that it will not come back.'
Four individuals have been arrested for allegedly running a sophisticated cyber fraud operation, duping people with fake discounted air tickets across multiple cities. Police recovered a substantial amount of cash and luxury items from the accused.
Tata Sons Chairman N Chandrasekaran addressed Air India employees, acknowledging the airline's challenging phase while reaffirming the Tata Group's commitment to its long-term transformation, focusing on service quality, safety, and operational improvements.
Congress leader K C Venugopal has filed a defamation complaint against a Haryana-based man, alleging politically motivated accusations ahead of the Kerala Assembly elections.
The Reserve Bank of India's 2024 norms for the voluntary conversion of Small Finance Banks (SFBs) into universal banks, particularly the subjective 'diversified loan portfolio' criterion, are proving to be a significant hurdle, with Ujjivan SFB and Jana SFB having their applications returned.
Kerala's voters are sophisticated, educated, and unforgiving. They have once again made it clear that no government is entitled to remain in power. The Congress would do well to remember this, points out Ramesh Menon.
State debt is rising because revenues are disappointingly weak. Ten states have debt ratios exceeding 30 per cent. In 2023-2024, states were borrowing simply to meet day-to-day expenses, points out Debashis Basu.
Governance uncertainty and leadership visibility gap are likely to keep the stock under pressure in the near term, said Nomura in a report.
Global cybersecurity firm Kaspersky plans to significantly increase its investments in India, leveraging the country as a hub for regional services due to strong financial performance and the escalating threat landscape.
'My resignation is a larger governance and governance-plus kind of an issue, which the board of directors of the bank should be introspecting.'
Markets will look for clear guidance on how the MPC interprets the uncertainty and what it implies for the future course of monetary policy, points out Rajeswari Sengupta.
Ola Electric Mobility Ltd is redirecting 575 crore from its initial public offering (IPO) proceeds, originally earmarked for research and product development, towards debt repayment and organic growth initiatives, signalling mounting pressure on the electric-vehicle maker.
Fino Payments Bank asserts its compliance with GST regulations following the arrest of its MD and CEO, Rishi Gupta, by the Directorate General of GST Intelligence (DGGI). The bank clarifies that the investigation pertains to program managers associated with multiple banks and not the bank's own GST compliance.
Chief Secretary Atal Dulloo emphasises the importance of holistic development and grassroots governance for India's progress at a national conference in Jammu.
A Mumbai court has denied bail to Purushottam Chavan, husband of IPS officer Rashmi Karandikar, in a Rs 24 crore cheating case, citing substantial evidence of his involvement in the crime.
Capex, infrastructure development, and prudent fiscal management are the key focus areas in the Budget, says Nilesh Shah.
'The bigger unknown remains global geopolitics, which is inherently unpredictable, including developments in our neighbourhood.' 'Another concern is the increasing tilt of government finances towards welfare subsidies, especially at the state level.' 'This could constrain capital expenditure, which is critical for long-term growth.'
'The real question is how best to leverage technology to deliver better services, all the way to the last mile, where we still haven't been able to get across the financial literacy that can enable us to unlock the potential of the entire country.'
'The first time India has seen two consecutive blockbuster IPO years.'
The Enforcement Directorate (ED) is seeking an expedited trial against Congress leader P Chidambaram in the Aircel-Maxis and INX Media money laundering cases, having submitted the required prosecution sanction to the court.
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