BUSINESS
Bihar Government Unveils Rs 2.79 Lakh Cr Budget with 'Highest' Growth Rate in Country Surpassing 10%
Deputy Chief Minister Samrat Choudhary, who also oversees the finance portfolio, proudly announced the government's success in uplifting 2.5 crore people from poverty in the preceding financial year, showcasing a commitment to overall development. Significant allocations were earmarked for various sectors, including education, health, rural development, welfare schemes, urban development, and strengthening of panchayati raj institutions.
India-UAE Collaboration: UPI RuPay Card Launched in Abu Dhabi by PM Modi and President Sheikh Mohamed bin Zayed Al Nahyan
President Nahyan initiated the service by swiping a card personalized with his name, symbolizing the commencement of this innovative financial service in the capital.
Reserve Bank to Release FAQs Addressing Paytm Payments Bank Measures
RBI Governor Shaktikanta Das emphasized the importance of addressing customer issues promptly, stating, “Wait for FAQ that will have a set of clarifications related to customers of PPBL as our priority is customers should not be inconvenienced. Customer interest and depositors interest is uppermost for us.”
PM Modi Hails Launch of UPI Payment Services in Sri Lanka and Mauritius as Landmark Occasion
During a virtual ceremony attended by Prime Minister Modi, Mauritian Prime Minister Pravind Jugnauth, and Sri Lankan President Ranil Wickremesinghe, India's RuPay card services were also introduced in Mauritius.
Govt Analyzing Chinese FDI Influx into Paytm Payments Services: Report
PPSL initially applied for a license from the Reserve Bank of India (RBI) in November 2020 to operate as a payment aggregator, aligning with RBI's guidelines on Regulation of Payment Aggregators and Payment Gateways. However, in November 2022, RBI rejected PPSL's application, citing non-compliance with Press Note 3 under FDI regulations, prompting PPSL to resubmit its application.
Foreign Portfolio Investors Sell Equity Worth Rs 28,818 Crores in 2024
As of February 9, FPIs have reportedly divested equity holdings worth Rs 3,074 crores while acquiring debt instruments worth Rs 15,093 crores. This ongoing trend reflects total equity divestment of Rs 28,818 crores and debt procurement of Rs 34,930 crores in the year 2024 thus far.
Paymart, Fintech Startup, Teams Up with 5 Banks to Introduce 'Virtual ATM'
Additionally, Paymart is actively engaged in discussions with four more banks for potential collaboration, aiming to broaden its network and enhance accessibility for customers.
Sovereign Gold Bond Price Set at Rs 6,263/gm as Issue Opens Monday
Investors applying online and making payments through digital modes will receive a discount of Rs 50 per gram, resulting in an issue price of Rs 6,213 per gram.
One97 Communications Establishes Group Advisory Committee Led by Former SEBI Chairman Damodaran
The committee boasts a lineup of seasoned professionals, including M.M. Chitale, the former President of the Institute of Chartered Accountants of India (ICAI), and a former Governing Council Member of the Banking Codes and Standards Board of India nominated by the RBI.
Petronet Unveils Rs 40,000 Crore Investment Strategy to Triple Profits by 2028
A significant portion of this investment will be directed towards venturing into the petrochemical business. Petronet aims to invest Rs 12,500 crore in establishing a Propane Dehydrogenation Plant, converting imported feedstock into propylene. Additionally, it plans to set up a floating LNG import facility in Gopalpur, Odisha, at a cost of Rs 1,600 crore.
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