Research & News
The Reserve Bank of India (RBI) has Rejected Paytm application to provide payment aggregator service for online merchants. RBI said Paytm Payments Services is required to re-submit its PA application within 120 calendar days. It is to be noted that One97 Communications, which owns the Paytm, had proposed to transfer the payment aggregator services business … Read more
ICICI Bank has entered into an agreement dated 23 November 2022 in relation to an initial investment of Rs 50,000 in the seed equity capital of the proposed Joint Venture (JV) of Indian Oil Corporation (IOCL) and Chennai Petroleum Corporation (CPCL) (target entity). The joint venture is aimed at setting up a petroleum refinery in … Read more
Online food delivery Company Zomato on Saturday said it lay off nearly 3 per cent of its employees under an efforts of cost cutting and to turn profitable. The decision comes after many tech giants and social media sites announced layoffs. The company said that the laying offs are based on regular performance. At least … Read more
Central Bank of India will launch the first pilot of the Digital Rupee Wholesale segment Tomorrow. The use case for the pilot is a settlement of secondary market transactions in government securities, the RBI said in a statement on Monday. The first pilot for the retail segment would be launched in a month in select … Read more
Amazon Inc share slips Below $100, market value fell below $1 trillion after its disappointing earnings report. The company on Thursday said sales in the recently completed third quarter rose 15% from a year earlier, while net income was $2.9 billion—its first quarterly profit in 2022, though still a 9% decline from the same period … Read more
Turkey’s Competition Authority announced Wednesday that it had fined Meta Platforms Inc. 346.72 million liras ($18.63 million) for violating competition law. The Turkish regulator said the company held a dominant position in personal social networking services and online video advertising and had obstructed competitors by merging data collected through its core services Facebook, Instagram, and … Read more
Invesco Developing Markets Fund will sell a 5.51% stake in Zee Entertainment Enterprises Ltd (ZEEL) in a block trade that will fetch the investor as much as $169.5 million. This is the second block deal by Invesco in seven months, which offloaded a 7.8% stake in Zee Entertainment in April. As per the report, Invesco … Read more
Amul will be merged with five other cooperative societies to form a multi-state cooperative society (MSCS), Cooperation Minister Amit Shah said on Sunday. Addressing the 70th plenary session of the North Eastern Council (NEC) in Guwahati, Shah said the process for the merger has already started. Amul is an Indian dairy state government cooperative society, … Read more
Adani Group Chairman Gautam Adani on Friday made a big announcement of opening a medical college and hospital each in two districts of Rajasthan and a cricket stadium in Udaipur with an investment of Rs 65,000 crore. Gautam Adani announced an investment Plan in Rajasthan over the next 5 to 7 years in setting up … Read more