The move to allow payments through digital wallets could give a fillip to distribution and reach for these investment vehicles, say experts.
The Delhi high court on Friday advanced to December 10 the hearing on pleas to declare the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund a 'State' under the Constitution and a 'public authority' under the Right to Information Act to ensure transparency in its functioning.
Equity returns may not be exceptional for the next two years, says Heather Brilliant, chief executive officer, Morningstar Australasia.
Nasper-backed fintech firm PayU has started talks to acquire domestic payment gateway major BillDesk, and the deal size could be in the range of $3-4 billion, sources in the know said. "BillDesk has been open to being acquired for some time now, but in the past the valuations that the company was seeking proved to be a hurdle," said a source. "Three years ago too, PayU had approached BillDesk for an acquisition, but things didn't go ahead due to high valuations. "BillDesk had asked for $2-billion value then," said the source.
Open loop pre-paid cards come with a two-factor authentication. One for ATMs and PoS transactions, and the other for online transactions
200 staffers, consisting of RBI officials and support teams, who are essential to perform critical functions, were isolated at a separate facility in a dedicated quarantined environment near all three RBI data centres.
The payments industry is at a crossroads with the banking regulator on two pressing issues, neither of which seems headed towards an amicable solution. Depending upon which side accommodates the other, customers in India will have to choose between convenience and ironclad safety. In the end, the Reserve Bank of India (RBI), which regulates both banks and all payments services providers, will prevail. But the question is: will it do so by bending a little or by sticking to its firm stand? The two issues - one concerning payment facilitators storing customers' card details and the other about auto-renewal of payments - appear similar but aren't.
The turmoil, if you read the headlines, is about the so-called funding winter. Deep down, though, the question is one of the common direction in which founders and investors need to pull, points out Suveen Sinha.
Redress for a victim is not easy. It is not really painful to file a cyber-crime complaint.
But someone who is technically unsophisticated enough to fall for a scam will find it hard to navigate the processes, points out Devangshu Datta.
There are certain plans that you can opt for that also cover dental treatments, says rediffGURU Sanjib Jha.
OMCs' Digital India move is likely to have an impact on more than 80.3 million Pradhan Mantri Ujjwala Yojana consumers, majority of whom are not exposed to digital transact.
The size of the Indian financial services market could touch around $340 billion in the next few years.
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
In this month itself, UPI can hit 2 billion transactions and by March 2021, it should reach 2.15 billion transactions in a month.
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
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Govt unveils reforms that cuts down time and bureaucracy.
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.
Opposing the Centre's stand that the PM CARES Fund was not a government fund, a lawyer told the Delhi High Court Wednesday that there was no factor to show that the fund was private in nature.
Finding enough shows to air, creating content that gets people to pay and watch and wooing advertisers back into the fold are going to be the biggest challenges the M&E industry faces.
A total of Rs 396 crore has been mopped up, as on August 20 against Rs 407 crore collected in the same period last year. This was despite the expansion of the levy to online e-commerce players from this financial year.
ShopClues does 1.5 million transactions a month and claims to have 40 million monthly visitors.
The PM CARES Fund is not a Government of India fund and the amount collected by it does not go to the Consolidated Fund of India, the Delhi High Court has been informed.
Digital payments provider Paytm is all set to make its market debut as early as this year, with an aim to raise $3 billion (around Rs 22,000 crore). If successful, this could be the biggest initial public offering (IPO) by an Indian company, breaking Coal India's 2010 record of Rs 15,475 crore. According to media reports, the board of One97, parent company of Paytm, is all set to meet this Friday to formally approve the IPO plan.
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.
Fintech giant Paytm claimed it is selling more FASTags than all the banks put together on a daily basis.
The CBI has arrested seven persons including two directors of a Noida-based private institution in connection with alleged manipulation of JEE Mains examination 2021, officials said Friday.
The Central Board of Direct Taxes (CBDT) has extended various tax returns filing deadlines till December 31 this year but it will continue to levy interest on delayed payments made after July 31, the original due date. Officials say tax payment has to be done through net banking, and the assessee doesn't need to use the e-filing portal, which has been facing glitches. So, taxpayers have to bear the interest payment liability of 1 per cent per month on the outstanding tax for those who filed a return after July 31.
E-commerce firms Amazon, Flipkart, and others are expected to witness blockbuster festival season sales of around $9 billion this year, surpassing pre-pandemic sales of $5 billion in 2019. The pandemic has accelerated the shift to e-commerce, with more consumers shopping online at a higher frequency than last year, observed analysts. This year's festival sales (gross merchandise value or GMV) are expected to grow 30 per cent year-on-year (YoY) to $4.8 billion during the first week of the season and potentially clock over $9-billion GMV during the whole festival month, revealed consulting firm RedSeer's e-commerce festival season report.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health and auto insurance related queries.
US retail giant Walmart has said it is "open to an IPO" for its Indian e-commerce arm Flipkart but there is "no specific timeline" for the share sale. Both Flipkart and payment app PhonePe continue to do well, Walmart International president and CEO Judith McKenna said while speaking at the DB Access Global Consumer Conference on June 7. "We always made it clear from the day we made the acquisition or the investment, that we would be open to an IPO," said McKenna. However, she noted that there is no specific timeline for the IPO.
The UGC chairperson stressed that foreign varsities with campuses in the country can only offer full-time programmes in physical mode and not online or distance learning.
Don't download a rent agreement from the Internet or sign blindly on one prepared by the broker.
While the Narendra Modi government has stuck to its stand that pending payment is Rs 12,343 crore, MSMEs calim outstanding amount is Rs 2-3 trillion. Moreover, MSME ministry's SAMADHAN portal has been of little help.
The Employees' Provident Fund Organisation (EPFO) on Monday set May 3 as the deadline for subscribers to opt for a higher pension. The Supreme Court on November 4 allowed another change for employees who were existing EPS members as on September 1, 2014, to contribute up to 8.33 per cent of their actual salaries - as against 8.33 per cent of pensionable salary capped at Rs 15,000 a month - towards pension. The apex court gave a four-month window to enable opting for higher pensions.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Illegal gambling on the cup is prevalent in countries like Thailand and Malaysia, where football is hugely popular, but which don't have legal betting alternatives, gambling industry experts say.
With the help of Practo Ray, doctors can share reports.
Ashok Kumar Gupta, chairman of the Competition Commission of India (CCI), has never minced words while talking about the giant technology companies, referring to them on multiple occasions as "centres for entrenched and unchecked dominance". The anti-trust regulator has, in fact, been cracking down on big technology companies such as Google, Apple, Facebook, and others, after they were hauled up by regulators and lawmakers in Europe and Australia. However, in several instances, existing regulations have prevented the CCI from going all out against these companies for anti-competitive activities.
Food ordering platform Zomato, whose Rs 9,375 crore IPO opens on July 14, is planning to launch a grocery section on its app soon, a senior company official said. The company recently invested USD 100 million (around Rs 745 crore) for acquiring a minority stake in grocery delivery platform Grofers. "It (grocery) is a large opportunity. The online grocery is nascent right now but is growing rapidly not just in India but across the world... "We are actively experimenting in that space and recently invested $100 million for a minority stake in Grofers, with the idea of getting more exposure to that space and building our strategies and plan around that business," Zomato CFO Akshant Goyal said.
Hero MotoCorp sold 254,813 Splendors, about 4,000 more than the 250,681 Activas sold by its rival Honda Motorcycles and Scooters India.
