Paytm Wallet comeback? One97 seeks RBI nod for fresh PPI licence
After losing its payments bank licence, One97 Communications is now moving ahead to rebuild Paytm’s digital payments business. The company has applied for a Prepaid Payment Instrument (PPI) licence from the Reserve Bank of India (RBI), which, if approved, will allow it to restart wallet services under its own entity. Why has Paytm applied for […]
118 Cops Injured, 70 Detained After CJP Protest Turns Violent In Delhi
Over 118 police personnel, including several senior officers, were injured and nearly 70 protesters were taken into custody on Monday after the Cockroach Janta Party’s (CJP) “Sansad Chalo” march turned violent in the New Delhi area, police officials said. In an official statement, Delhi Police shared these details and alleged that protesters showed “disruptive, hostile […]
Protests To Continue,” Says CJP After Meeting With JP Nadda
Huge chaos erupted at Delhi’s Jantar Mantar on Monday where the Cockroach Janta Party and its supporters gathered to begin its ‘Chalo Sansad’ protest march. As the crowd swelled, the protesters and Delhi police clashed with each other, with the cops resorting to ‘lathicharge’. Later, Union minister JP Nadda and CJP members Saurav Das and […]
IDBI employees’ forum opposes stake sale to Fairfax, seeks review
The United Forum of IDBI Officers & Employees has expressed “serious concern” over the Centre’s reported move to go ahead with the strategic disinvestment of its controlling stake in IDBI Bank in favour of Fairfax Financial Holdings, subject to necessary regulatory and statutory approvals. The forum has also called for a parliamentary review of the […]
RBI, FinMin likely to take up UAE curbs on Indian banks’ FCNR(B) mobilisation; l ..
Indian banks have approached the government for intervention after the Central Bank of the United Arab Emirates imposed restrictions impacting their ability to mobilise foreign currency deposits. The move has created hurdles for raising FCNR(B) deposits from NRIs in the UAE, which is a key market for such inflows. Reserve Bank of India and the […]
Pune’s elevated roads to use Malaysian tech, will need fewer pillars
Union Minister for Road Transport and Highways Nitin Gadkari announced that a Malaysian technology will be used to construct three key elevated road corridors in Pune district. Gadkari, along with Chief Minister Devendra Fadnavis and Deputy Chief Minister Sunetra Pawar, laid the foundation stone for the three corridors on Saturday — Pune-Shirur, Hadapsar-Yavat, and Talegaon-Chakan-Shikrapur. […]
Sonam WanSonam Wangchuk Lists 3 Conditions To End Hunger Strikegchuk Lists 3 Conditions To End Hunger Strike
Here’s a rewritten version with slightly changed wording (simple and clean): Activist Sonam Wangchuk, who has been on a hunger strike for over 20 days, has agreed to call off his fast today, but only if his three demands are met. In a handwritten letter shared from what he described as his “illegal detention” at […]
HDFC Bank gets RBI nod for former CEC Rajiv Kumar as part-time chair
HDFC Bank, India’s largest private sector lender, on Wednesday said the Reserve Bank of India has approved the appointment of former Chief Election Commissioner Rajiv Kumar as the bank’s part-time chairman for a period of three years, effective July 15. Kumar is likely to chair his first board meeting on July 18, when the bank’s […]
Banks courting corporate clients for merger and acquisition financing
Leading domestic lenders have started reaching out to their large corporate clients, including conglomerates, to position themselves for merger and acquisition (M&A) financing, after the Reserve Bank of India guidelines allowing banks to fund such deals came into effect on July 1. State-owned banks are exploring partnerships with foreign banks, while private-sector peers are relying […]
PNB partners Digital India BHASHINI to offer multilingual AI banking
Public sector lender Punjab National Bank (PNB) has entered into a Memorandum of Understanding (MoU) with Digital India BHASHINI Division (DIBD) to enable multilingual AI banking services. Through this collaboration, BHASHINI’s advanced multilingual AI features will be integrated into PNB’s digital platforms, the bank said in a statement on Thursday. This initiative will allow customers […]