SEBI Bans 10 Entities for Share Rigging on TV Show
SEBI, the market regulator of India, has taken strict action against 10 entities, including market experts, research analysts, and guests appearing on Zee Business, a popular business news channel. The regulator has accused them of indulging in fraudulent and unfair activities by ‘influencing innocent investors’ through their stock recommendations on the channel. How did they […]
RBI: Paytm App Stable, Banks May Partner After Checks
The Reserve Bank of India (RBI) has clarified that the recent directives issued against Paytm Payments Bank Limited (PPBL) will not affect the functionality or operations of the Paytm app. The RBI Deputy Governor Swaminathan J said that the action is against PPBL, not against the Paytm app, in a press briefing following the Monetary […]
Juspay, Zoho, Decentro: New Payment Aggregators by RBI
The Reserve Bank of India (RBI) has granted final authorization to three more companies – Juspay, Zoho, and Decentro – to operate as payment aggregators in India. This approval allows these companies to provide payment services to online merchants by accepting payments from customers. What is a payment aggregators? A payment aggregator is a service […]
HDFC Bank Secures $300M Through Sustainable Finance Bonds
HDFC Bank, India’s largest private sector lender by market capitalisation, has raised $300 million through its first ever sustainable finance bond issue. The bond is part of a larger $750 million raise through Regulation S Bonds, which are offered to investors outside the US. HDFC Bank’s Sustainable Finance Bond Details The sustainable finance bond has […]
Kotak Mahindra GI 70% Stake Bought by Zurich Insurance
Zurich Insurance Company Ltd., a leading global insurer, has received approval from the Competition Commission of India (CCI) to acquire up to 70% stake in Kotak Mahindra General Insurance Company Ltd. (Kotak Mahindra GI), a subsidiary of Kotak Mahindra Bank Ltd. The deal is expected to be completed by June 30, 2024. Background of Kotak […]
CPIH, AIL – II, Ontario Inc. Acquires Interise: CCI Approval
The Competition Commission of India (CCI) has approved the proposed combination involving acquisition of 100% shareholding of Interise Investment Managers Limited by the CPIH, AIL – II. and Ontario Inc. Who are the acquirers? CPIH, AIL – II and Ontario Inc. are the acquirers in this deal. CPPIB India Private Holdings Inc. (CIPH) is a […]
Banking Liquidity Deficit Down to ₹1.40 Lakh Crore: RBI
The liquidity situation in the Indian banking system has improved significantly in the first week of February 2024, as the government increased its spending and eased the pressure on money market rates. According to a report by MintGenie, the liquidity deficit in the banking system declined to about ₹1.40 lakh crore on February 4, from […]
Flywire and SBI Simplify Payments for Foreign Students
Indian students who want to pursue their education abroad can now enjoy a hassle-free and convenient payment process, thanks to the partnership between Flywire Corporation and State Bank of India (SBI), the largest lender in India. The partnership aims to offer Indian students an advanced digital checkout experience for their international educational payments, ranging from […]
India’s $78B Deal to Extend Qatar LNG Imports
India, the world’s fourth-largest consumer of energy, is likely to sign a $78 billion deal with Qatar, the world’s top exporter of liquefied natural gas (LNG), to extend its LNG imports for another 20 years beyond 2028 at rates that are lower than current prices, sources said. The deal will be signed between Petronet LNG […]
HDFC Bank to Buy 9.5% Stake in ICICI Bank, 5 Others
HDFC Bank Group, the country’s largest private banking group, has received approval from the Reserve Bank of India (RBI) to acquire up to 9.5% stakes in six private lenders, including ICICI Bank, Axis Bank, YES Bank, Suryoday Small Finance Bank, IndusInd Bank and Bandhan Bank. The group comprises HDFC Bank, HDFC Asset Management Company (AMC), […]