BUSINESS
Political Instability in Pakistan Casts Doubt on IMF Agreement: Fitch's Concerns
The agency emphasized the importance of a new IMF agreement to replace the expiring Stand-By Arrangement (SBA) in March, highlighting it as crucial to Pakistan's credit profile. While the country received a second tranche of over USD 700 million last month under the existing SBA, Fitch stressed the necessity of reaching a new agreement to alleviate external liquidity stress and mitigate the risk of default.
Bihar Forecasts Fiscal Surplus for 2024-2025
Choudhary, who oversees the finance portfolio, reaffirmed Bihar's dedication to fiscal consolidation during his participation in the budget debate in the assembly. He highlighted the significant increase in economic activities within the state in recent years, attributing it to the policy measures implemented by the NDA government.
BYJU'S Engages with Disgruntled Investors, Aims to Secure Investments to Maintain Shareholding
In January, BYJU'S initiated a rights issue aiming to raise $200 million through equity rights at a valuation ranging from $220 million to $250 million. This valuation marks a significant decrease of 99 percent from its peak valuation of $22 billion.
Orbo AI Lands Rs 1 Crore Deal on Shark Tank India 3 with Vineeta Singh
In today's digital age, technology has seamlessly integrated into various aspects of our lives, making beauty brands and services more accessible than ever before. With Beauty AI, driven by AI and AR, consumers can now experience real-time virtual try-ons from the comfort of their homes, transforming the traditional shopping experience.
Foreign Portfolio Investors Offload Holdings Worth Rs 29,519 Crore in Current Fiscal Year
During February up to the 16th, FPIs divested equity holdings amounting to Rs 6,112 crores through exchanges. However, investments in 'the primary market and others' mitigated the net selling figure for the same period to Rs 3,775 crores. Overall, in the year 2024, FPIs have offloaded holdings worth Rs 29,519 crores.
Paytm's QR, Soundbox, and Card Machine to Remain Operational Post March 15; Nodal Accounts Transitioned to Axis Bank
This assurance comes hot on the heels of the Reserve Bank of India (RBI) releasing a set of Frequently Asked Questions (FAQs) confirming that Paytm's merchant payment devices will not be affected and will continue to function normally.
RBI Asks Paytm Payments Bank Customers to Shift Accounts to Other Banks by March 15
Customers of PPBL are encouraged to transfer their account balances, including savings, current accounts, prepaid instruments, FASTags, and National Common Mobility Cards, to alternative banks before March 15. The RBI emphasizes that withdrawals and utilization of balances from PPBL accounts will continue to be permitted without restrictions beyond this date.
Global mobility fintech startup Moove raises $10 mn to expand India footprint
According to a statement released by the startup, this funding round aims to leverage the momentum gained by completing over 4.2 million trips, a feat that has had a substantial impact on India's mobility landscape.
Reserve Bank Directs Visa and Mastercard to Halt Commercial Card Transactions
Visa has confirmed receipt of the communication from the regulator on February 8, while awaiting a response from Mastercard on the matter. This development closely follows the RBI's initiation of regulatory measures against Paytm Payments Bank.
Enforcement Directorate Questions Paytm Executives, Receives Documentation Regarding Recent RBI Measures
The central agency is currently in the preliminary stages of examining these documents as part of a potential formal investigation under the Foreign Exchange Management Act (FEMA), prompted by alleged irregularities flagged by the RBI.
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