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Paytm wallet users will not face any disruption because of regulatory actions, and the remaining users have been advised to link their apps to other banks, RBI Governor Shaktikanta Das said on Wednesday. The Reserve Bank of India on January 31 barred Paytm Payments Bank Ltd (PPBL) from accepting deposits, credit transactions, or top-ups in any customer accounts. The deadline for linking the wallet attached with PPBL with other banks has been fixed for March 15, the governor said, ruling out any further extension.

Shaktikanta Das, Governor, the Reserve Bank of India, says «given the uncertainties that we have, including weather-related events, we would like inflation to durably be around 4%. It cannot be just a one-off number or one-month number touching 4% which will give us satisfaction. It has to be sustainable and durable at around 4%. That will give us greater confidence, but the direction is very clear. Inflation is on a downward trajectory. Ever since you took over as the Governor of Reserve Bank of India, December 2018, is this the best macro and the economy set up we have seen? Shaktikanta Das: Yes, in a long time, not just in the last five years. Of course, in the last five years, we have seen several turbulent moments initially coming from the collapse of the IL&FS, followed by the COVID and many other external developments. So, we have gone through a very turbulent period.

TikTok, the short-video platform owned by Chinese internet company ByteDance, is facing renewed political pressure in the U.S. from a draft bill that could lead to a ban of its popular video-sharing app. The bill, introduced in Congress on Tuesday, calls for Beijing-based ByteDance to divest itself of TikTok or face the platform being banned from app stores and web-hosting services in the U.S.

IIFL Finance, JM Financial and even Paytm Payments Bank. The central bank on March 4 had imposed an embargo on IIFL Finance’s gold loan business and then on JM Financial Products’ loan against shares & IPO financing business the next day, citing persistent regulatory non-compliance and governance issues.

SBI deputy managing director Manju Agarwal from the board of CMS Info Systems has brought to light the troubles faced by independent directors juggling multiple board positions. Agarwal's decision to step down from CMS Info Systems came around the time of her resignation from Paytm Payments Bank Limited (PPBL), where she served as an independent director, according to a report by Economic Times.

West Bengal government moved the Supreme Court against the Calcutta High Court order directing a CBI probe into the Sandeshkhali matter, which pertains to the attack on ED officials. Shahjahan Sheikh has been accused of extortion, land grabbing and sexual assault in Bengal's Sandeshkhali Earlier this year, in January, ED officials came under attack in the North 24 Parganas district while they were on their way to raid the homes of former Bongaon Municipality chairman Shankar Adhya and Trinamool Congress leader Sheikh Shahjahan in connection with the ration 'scam' case.

IIFL Finance said in a regulatory filing. “We have been long-term investors in the IIFL group of companies and have full trust and confidence in the company's strong management team led by Nirmal Jain and R Venkataraman. We are confident that Nirmal and Venkat will take corrective actions to meet and exceed RBI's compliance standards," said Prem Watsa, Chairman of Fairfax India.

IIFL Finance tanked 20% on Wednesday to fresh 52-week low of Rs 382.20 on the NSE following a downgrade by global brokjerage Jefferies. The US brokerage has slashed its target price to Rs 435 from an earlier target of Rs 765 while recommending a ‘hold’ rating versus 'buy' it held earlier. The downgrade comes after the Reserve Bank of India (RBI) directed the company to cease and desist from sanctioning or disbursing gold loans or assigning/securitising/selling any of its gold loans.

Bitgert has always managed to stay on the bullish side of the market since its launch in July 2021. Bitgert was one of the better-performing cryptocurrencies at a time when the overall market went down by more than 60%.

markets snapped a four-day winning streak on account of profit booking and easing of service PMI, dampening the sentiments. Investors are awaiting Fed Powell’s Chair to get some input on interest rates. «Overall, markets are likely to consolidate in the near term with sectorial rotation amid key events lined up. Capital Goods, Auto, PSU Bank, and Oil & Gas will continue to remain in focus,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal.

Elon Musk’s actions having an effect on the crypto market is nothing new. We’ve seen this many times before. But usually, they center on pumping or dumping Dogecoin ($DOGE). This time, WorldCoin ($WLD) slips as Elon Musk sues OpenAI. Now that the AI narrative is losing steam and memecoins and GameFi projects are back in the lead, could Galaxy Fox ($GFOX) be a better investment?

In 1919, Max Weber delivered a lecture titled “Politics as a Vocation," in which he argued for the first time that the state has a monopoly over the use of physical force. He was looking for a way to justify the state’s use of force and chose to do so by elevating it to the level of a crucial feature of the social contract. In those days, authority was manifest through tangible expressions of control—institutions like the police and military, and coercive constructs like laws and regulations.

Another day, another multibillion-dollar regulatory fine from Europe that will barely dent the balance sheet of a technology giant. Only this time, the European Commission’s $2 billion penalty against Apple marks the end of an old clunky era, and the start of a new one where trust-busters can be quicker and more efficient in policing Silicon Valley’s biggest companies. Their secret weapon: a new law called the Digital Markets Act (DMA).

Mint. Asset managers are not allowed to share any commissions or incentives other than the prescribed trail commissions. Trail commission refers to a fee that mutual funds pay their distributors as long as those who bought MF units stay invested.

MUMBAI : IIFL Finance Ltd on Tuesday tried to assuage investor concerns, stating there were no governance lapses, after the Reserve Bank of India (RBI) barred the non-banking financial company (NBFC) from offering any loans against gold. On Tuesday morning, shares of IIFL Finance opened 20% lower as investors dumped shares after the banking regulator issued a statement on Monday evening that detailed some lapses. “We wish to make it unequivocally clear that there are no governance or ethical issues," said Nirmal Jain, managing director, in a call with analysts on Tuesday.

the custody was supposed to be handed over today at 4:30 pm as per the high court order, the West Bengal CID did not hand over custody of Sheikh Shahjahan to CBI. Before the Bengal government's action, the Calcutta High Court had directed that the CBI be handed over the case of attack on ED officials at Sandeshkhali and the custody of suspended TMC leader Shahjahan Sheikh, while slamming the Mamata Banerjee government for “protecting" the accused.

Bloomberg on Tuesday. In his first public appearance at a financial technology conference in Tokyo since the Reserve Bank of India (RBI) ordered his banking affiliate to halt certain activities, Sharma said, as quoted by Bloomberg, “The biggest thing that I’ve learned is that many times your teammate and adviser may not be getting it correct." “And it is important for you, yourself to be taking care of it versus just letting a teammate or a adviser suggest that what should it be (sic)." He resigned from the PPBL board in February after the RBI prohibited the bank from accepting new deposits in its customer accounts or wallets.

Paytm Payments Bank on January 31 impacted One 97 Communication-run Paytm’s UPI payments business in February which registered a 7.6% fall in transactions over the previous month. According to data shared by National Payments Corporation of India (NPCI), Paytm reported around 1.3 billion transactions on UPI, a 7.6% drop from 1.4 billion in January.

In a major decision, the Reserve Bank of India barred IIFL Finance to stop disbursing gold loans with immediate effect on Monday. The central bank said that the decision had been taken after noticing ‘material supervisory concerns’ that were observed in the gold loan portfolio of the firm.

India is “positively” considering specific requests from the troubled UN agency for Palestine Refugees for assistance in kind, even as Delhi expressed “serious concern” over recent allegations that some of its employees may have been involved in the October 7 Hamas terrorist attack on Israel.

Amazon miniTV, Amazon’s free video streaming service, has announced the third season of Playground, a one-of-a-kind gaming reality show, in association with Rusk Media. As per the company, Hero MotoCorp has joined as the presenting partner.