Compliance is priority for Paytm: CEO Vijay Shekhar Sharma
15 Sep
Business News

Compliance is priority for Paytm: CEO Vijay Shekhar Sharma

Posted by author-avatar
0
Business new tamfitronics MUMBAI: Paytm has adopted a compliance-first approach and is focusing on achieving profitability, founder and Vijay Shekhar Sharma said at the company's 24th annual general meeting on Thursday. "We have had a lot of learnings in the past six months. Now, we are talking compliance-first business... one that takes care of every regulation fully and in letter and spirit," Sharma said.The fintech came under the regulatory scanner after RBI flagged persistent non-compliance at its banking unit and directed the company to wind down its payments bank in Jan. Top Picks For YouBajaj Housing Finance IPO subscribed 63.60 times on Day 3
Continue reading
Sensex breaches 83k level for 1st time on US rate cut hopes
15 Sep
Business News

Sensex breaches 83k level for 1st time on US rate cut hopes

Posted by author-avatar
0
Business new tamfitronics MUMBAI: Across-the-board buying lifted the Sensex by over 1,400 points or 1.8% on Thursday to over the 83K mark for the first time. Global markets, which rallied on hopes of a rate cut in the US next week, boosted investor sentiment on Dalal Street. Short covering of positions by speculators, too, helped the domestic rally towards the end of the session, market players said.The day's rally added about Rs 6.5 lakh crore to investors' wealth, with BSE's market capitalisation now at Rs 480.5 lakh crore.The Sensex opened the session in the green, was up about 400 points at 81,930, slid slightly due to profit-booking in blue chips and then rallied sharply in the closing hours to record a new all-time high at 83,116. At close, it was at 82,963, up 1,440 points....
Continue reading
Yes Bank stake sale hits hurdle over 51% rule
15 Sep
Business News

Yes Bank stake sale hits hurdle over 51% rule

Posted by author-avatar
0
Business new tamfitronics MUMBAI: Yes Bank's proposed sale to a private buyer has hit a hurdle as potential buyers seek a 51% shareholdingwhich is not allowed under existing rules. The development is likely to push the exit of major Indian banks that hold a majority stake in the private lender beyond the current financial year.Reports have indicated that Japan's SMBC and Emirates NBD were the only bidders for the private bank and both are eager to hold over 51%.In the past, RBI had allowed white-knight investors to hold more than 50% in private banks, but those transactions were aimed at preventing distressed lenders from collapsing. Development Bank of Singapore, for instance, was permitted to acquire the distressed Lakshmi Vilas Bank during the pandemic in Nov 2020. Likewise, in 2018, RBI approved Canada's Fairfax...
Continue reading
Retail inflation up marginally, IIP growth a tad higher
15 Sep
Business News

Retail inflation up marginally, IIP growth a tad higher

Posted by author-avatar
0
Business new tamfitronics NEW DELHI: Retail inflation inched up marginally in Aug, led by vegetable and some food prices, but remained below the Reserve Bank of India's 4% target for the second month in a row, providing room to the central bank to move on interest rates later this year.Data released by NSO on Thursday showed retail inflation, as measured by the consumer price index (CPI), rose an annual 3.7% in Aug, a tad higher than the previous month's 3.6%. Food inflation also moved up marginally to 5.7% in Aug compared to 5.4% in July. Rural inflation was higher at 4.2% during the month, while urban was at 3.1%. Vegetable prices rose 10.7% during the month, while pulses and products were up 13.6%. Food & beverages inflation was at 5.3%."We expect food...
Continue reading
Load more posts
Loading...