Manju Agarwal, an independent director of Paytm Payments Bank, resigned from the board following the Reserve Bank of India’s action. According to a PTI report, Agarwal tendered her resignation from the board, effective February 1. This decision comes after the central bank barred Paytm Payments Bank from accepting new deposits or top-ups in customer accounts, wallets, FASTags, or other instruments starting February 29. Paytm Payments Bank, an associate of One97 Communications Limited, which holds 49 per cent of the paid-up share capital (directly and through its subsidiary) of PPBL, faces regulatory scrutiny. RBI Takes Action Against Paytm Payments Bank for…
Author: Editorial Team
The Reserve Bank of India (RBI) announced transparency measures for borrowers regarding other charges levied by lending institutions on loans, apart from interest rates. According to the announcement, all lending institutions must now include charges such as processing fees, documentation charges, etc., in the Key Fact Statement (KFS), which reflects the actual loaded interest rate on a loan. This move enables borrowers to access information about the actual annualized interest rate they pay on the loan. It applies to digital lending apps and all banks and Non-banking Finance Companies (NBFCs) offering retail and MSMEs loans. RBI Mandate Enhances Transparency in…
RBI Governor Shaktikanta Das announced that the Reserve Bank of India (RBI) has decided to keep the key interest rates unchanged in the RBI MPC meeting. RBI will maintain its “withdrawal of accommodation” stance to bring inflation closer to its target of 4 per cent. In the RBI MPC meeting, the Monetary Policy Committee (MPC) voted by a 5 to 1 majority to keep the policy rate unchanged at 6.5 per cent after a detailed assessment of evolving macroeconomic and financial developments and the outlook. This decision marks the sixth consecutive meeting where the MPC has maintained a status quo…
BLACKPINK’s Lisa made headlines as she stepped into entrepreneurship, unveiling her solo label, LLOUD, via a captivating Instagram post. Marking her journey as the second member of the globally acclaimed K-pop group to ascend to the business realm, Lisa’s announcement reverberated across the music industry. Lisa Launches LLOUD In a groundbreaking move, BLACKPINK’s Lisa took to social media to unveil Solo Label LLOUD, a platform designed to showcase her unique vision in music and entertainment. With a clear message of pushing boundaries and embracing innovation, Lisa invited her fans to embark on this thrilling journey alongside her. View this…
After nearly a year since the Hindenburg bombshell, Gautam Adani has re-entered the exclusive $100 billion club. His net worth surged by $2.7 billion on Wednesday, reaching $100.7 billion, according to the Bloomberg Billionaires Index. The shares of his flagship company, Adani Enterprises Ltd, have been rising for eight consecutive days following a robust earnings report last week, which revealed a staggering 130 per cent increase in profit. Gautam Adani has an Impressive Comeback Adani now holds the 12th position among the world’s wealthiest individuals, trailing just behind Mukesh Ambani. While Mukesh Ambani’s fortune reached a record high earlier this…
On Wednesday, the National Company Law Tribunal (NCLT), Bengaluru, issued notice to edtech behemoth Byju’s in an insolvency proceeding filed by customer support company Teleperformance Business Services India Ltd. Teleperformance alleges that Byju has defaulted on payment of Rs 4.82 crore, excluding Rs 21 lakh interest to the company in lieu of business process outsourcing services provided by the company. Think and Learn Pvt Ltd or Byju’s had entered into an agreement with the company on April 16, 2022. The tribunal gave two weeks for Byju’s to file its objections and gave one week to the operational creditor to file…
The fresh jodi of Saiee Manjrekar and Guru Randhawa stars in “Kuch Khattaa Ho Jaay,” slated for release during the Valentine’s Day weekend. The team launched the trailer today, promising a fun-filled ride that will tickle your funny bone and touch your heart simultaneously. Directed by G. Ashok, “Kuch Khattaa Ho Jaay” hits cinemas on 16 February 2024. Kuch Khattaa Ho Jaay Trailer and Storyline Saiee Manjrekar and Guru Randhawa’s film presents a fun love story with a modern twist on a couple within a traditional setting. While the film aims to entertain with its comedic elements, it also delves…
On Wednesday, John Abraham announced his next film, Vedaa, along with its first poster and release date. The poster showcased actor Sharvari Wagh, with tears in her eyes, standing behind John, who sported a rugged look with a weapon in the frame. John stated in his post, “Dive into the world of #Vedaa. Releasing in cinemas on July 12th!” Dive into the world of #Vedaa. Releasing in cinemas on July 12th! #Sharvari @nowitsabhi @tamannaahspeaks @nikkhiladvani @monishaadvani @madhubhojwani @shariqpatel @minnakshidas @aseem_arora @ZeeStudios_ @EmmayEntertain @johnabrahament @anilandbhanu @ZeeMusicCompany @zeecinema pic.twitter.com/5F4xiOmjrH — John Abraham (@TheJohnAbraham) February 7, 2024 Directed by Nikkhil Advani, the film…
On Wednesday, Tata Steel announced that its board decided against merging TRF Ltd, as the company is seeing improvements in its business performance. Earlier, Tata Steel had planned to merge nine strategic businesses, including TRF, but they have opted not to pursue the amalgamation. Both Tata Steel and TRF boards made this decision. Tata Steel has been aiding TRF with orders and funds. Furthermore, Tata Steel has already merged five businesses, such as Tata Steel Mining Ltd and Tata Steel Long Products Ltd, with more mergers underway. Tata Steel and TRF Ltd Decide Against Merger Tata Steel stated that both…
Blissfully unaware of the crisis looming over Paytm, mutual funds, retail investors, and foreign institutional investors (FIIs) increased their stakes in the new-age stock during the December quarter. Following a staggering 42% decline in three days, 11 lakh retail shareholders, 514 FIIs, and 97 mutual fund schemes are ensnared. During the December quarter, the shareholding pattern revealed a rise in MF ownership in Paytm from 2.79% to 4.99% quarter-on-quarter. FII holding also surged by 280 bps to 63.72%, while retail ownership, encompassing those with holdings up to Rs 2 lakh, escalated by 457 bps to 12.85%. Prominent FII investors such…