MYUV Abhiyan : UP’s Blueprint for Youth Entrepreneurship
Uttar Pradesh, the most populous state in India, is on a mission to transform its economy by nurturing entrepreneurship among its youth. The state government has recently launched an ambitious scheme called “Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUV Abhiyan)”, which aims to provide interest-free loans and support to young entrepreneurs who want to start their […]
Flipkart UPI Handle: A Leap in Digital Payments
Flipkart, India’s leading e-commerce platform, has launched its own UPI handle powered by Axis Bank for Android users. The handle, called “@fkaxis”, offers a convenient, secure and rewarding way to make payments, transfer funds and earn Supercoins. What is Flipkart UPI? Flipkart UPI is a payment service that allows users to create their own UPI […]
HDFC Bank Sells 90% Stake in HDFC Credila: RBI Approval
HDFC Bank, one of the leading private sector lenders in India, has recently received approval from the Reserve Bank of India (RBI) to sell a 90% stake in its education loan subsidiary arm, HDFC Credila, to a consortium of private equity firms. The deal is expected to boost HDFC Bank’s income in the fourth quarter […]
Disney, RIL Sign Deal: Viacom18 Merges with Star India
In a landmark agreement, Disney and Reliance Industries Limited (RIL) have announced the signing of binding definitive agreements to form a joint venture (JV) that will combine the businesses of Viacom18 and Star India . The deal, which has been in the works for months, will create a media behemoth across TV broadcasting, streaming, movies […]
Qualcomm Joins C-DOT to Amplify Make in India
Qualcomm Technologies, a subsidiary of Qualcomm Incorporated, and Centre for Development of Telematics (C-DOT), a public funded research institution focused on telecom technology by the Government of India, have announced a strategic partnership that will drive the Make in India vision of the central government. The partnership was announced at the Mobile World Congress 2024 […]
Paytm Fined ₹5.49 Crore by FIU
The Financial Intelligence Unit-India (FIU-IND) has imposed a penalty of ₹5.49 crore on Paytm Payments Bank Ltd (PPBL) for violating its obligations under the Prevention of Money Laundering Act (PMLA), the Ministry of Finance said in a release. This is the latest setback for the digital payments giant, which is also facing regulatory scrutiny from […]
RBI Okays Amazon Pay as Payment Aggregator
Amazon Pay, the digital payments arm of ecommerce giant Amazon India, has received a payment aggregator (PA) licence from the Reserve Bank of India (RBI), strengthening its merchant payments business. It can now offer online merchant payment services and has 6.6 crore wallets with operational revenue of Rs 2,093 crore in FY23. What is a […]
Jana Small Finance Bank, Dvara Money partner : Digital Banking
Jana Small Finance Bank Limited (Jana SFB) and Dvara Money (DM), a technology-driven financial solutions platform, have announced a strategic partnership to facilitate digital banking services for the Bharat segment. The collaboration will leverage DM’s Spark Money platform and Jana SFB’s technological capabilities to offer improved user experiences and UPI functionalities. Spark Money platform Spark […]
RBI updates Bharat Bill Payment System for Better Efficiency
The Reserve Bank of India (RBI) has introduced a new framework called the Bharat Bill Payment Systems Directions, 2024, to simplify and make the system of bill payments more seamless and enhance customer protection. The fresh directive is applicable to NPCI Bharat Bill Pay Limited (NBBL), a wholly owned subsidiary of National Payments Corporation of […]
ICICI Lombard: Now ICICI Bank’s Insurance Arm
ICICI Bank makes ICICI Lombard its subsidiary ICICI Bank, India’s second-largest private sector lender, has acquired an additional stake in ICICI Lombard General Insurance, making it a subsidiary company. The bank has bought 1.06 crore shares of the insurer for Rs 1,787 crore in two tranches through open market transactions. Here are the details of […]