Digital Financial News

Mint. Around 50-60% of the new centers would be set up in these states, he added. The move aims to expand IPPB's digital payment channels to serve its 90 million customers.Transactions by IPPB customers have increased tenfold to 10 million per day over the past three and a half years, with 80-90% of these transactions serving its rural customer base, and 5-10% catering to semi-urban areas.

EU’s recently passed regulation, Ecodesign for Sustainable Products Regulation (ESPR) will lead to high costs and hurt exports from developing countries, economic think tank Global Trade Research Initiative (GTRI) said Wednesday. The ESPR mandates that imported products meet stringent sustainability standards, including a Digital Product Passport for traceability. ESPR will cover all products by 2030 but would begin with regulating items such as textiles, furniture, mattresses, tyres, detergents, paints, lubricants, iron and steel from January 2026. “ESPR will lead to high costs of products because of changes needed in production processes. Since most products covered are consumer products, the price rise may lead to inflation in the EU,” GTRI said.

AGS Transact is looking to raise Rs 200 crore to expand its operations. While the promoter group, led by founder Ravi Goyal, will invest Rs 150 crore the remaining will be brought in by non-promoter investors led by marquee high networth individuals including Ayush Mittal, Ashit M Mehta and Rajiv Mehta. In an exchange filing the company had said that its board of directors had approved fund raise by way of preferential warrants to promoter and promoter group along with Non-Promoters at a price of Rs. 79.25 per share.

digital lending platform Supermoney has raised $3.4 million (Rs 28.6 crore) in a funding round led by Capital 2B and Capria Ventures. The funds will be used to expand the company’s loan disbursement activities and improve operational efficiencies by leveraging technology.

This partnership allows the bank to measure the carbon emissions from each foundED event using Climes' carbon neutral event calculator. Once the emissions are calculated, DBS Bank India will neutralise them by encouraging event attendees to select the carbon avoidance and removal projects they want the bank to support.

GDP ratio is at an all-time high level, valuations are not at an all-time high, Dalal Street’s veteran stock picker Nilesh Shah said at AIF & PMS Conclave 2.0 on Wednesday. “Valuations are not at all-time high. They are still reasonably valued or one can say they are little expensively valued but critics will agree that it is not very expensive and optimists will agree that it is not very cheap. We are in the middle,” Shah said at the virtual conclave.

What if we tell you that you can now easily store all your medical information in one place and share it with medical practitioners or hospitals electronically? The Centre has introduced a unique 14-digit number — Ayushman Bharat Health Account (ABHA) or health ID — to store all health records of an individual. How can you create an ABHA number? Who can access your medical history through an ABHA ID? If you enroll for an ABHA ID, how safe will your data be? ET Wealth Online explains what you need to know about ABHA ID.

New meme coins are being created every day.

Crisil highlighting India's significant potential in energy transition and digital infrastructure, on June 19.“The next decade will see us invest more than $100 billion in the energy transition space and further expand our integrated renewable energy value chain that today already spans the manufacturing of every major component required for green energy generation," he said.In addition to constructing solar parks and wind farms, the conglomerate is establishing facilities to manufacture electrolyzers for green hydrogen production, as well as wind power turbines and solar panels.Gautam Adani stated that India will begin adding a trillion dollars to its GDP every 12 to 18 months, setting the country on a path to becoming a $30 trillion economy by 2050.Milestone Alert! Livemint tops charts as the fastest growing news website in the world

The project aims to explore a multi-central bank digital currency (CBDC) platform shared among participating central banks and commercial banks, built on distributed ledger technology (DLT) to enable instant cross-border payments and settlement. It is the result of extensive collaboration starting in 2021 between the BIS Innovation Hub, the Bank of Thailand, the Central Bank of the United Arab Emirates, the Digital Currency Institute of the People's Bank of China and the Hong Kong Monetary Authority.

News of the investment comes just days after the Australian bank shut down its proposed stablecoin, AUDN, and marks a pivotal shift for the bank's crypto strategy into the institutional safekeeping arena. Last year Zodia Custody announced it had set up shop in Australia, planning to serve local institutional clients.

Best 5 star ACs for your home: Top 5 efficient options to cool your space and save moneyThe Daikin 0.8 Ton 3 Star Fixed Speed Split AC is perfect for small rooms up to 100 sq.ft. This 2022 model features a copper condenser coil, ensuring better cooling and low maintenance.

«If you look at in FY19, this number was more around 20 per cent and if you go back to 2007, it was in single digit sort of a number. So, thereby if you look at there has been a consistent shift towards the formalised market and there is a reason also,» says Naveen Trivedi, MOFSL. Jewellery sector category is growing. What are the tailwinds which you see and what are the prospects of this sector in the medium to long term in your view? Naveen Trivedi: With respect to the category size, this is a large market with the revenue size of around 6,40,000. If you look at the mix between the organised or you say formalised market that stands to around 36% to 38% sort of a band.

fintech solutions, the financial services sector caters to the evolving needs of a dynamic economy.Like in any other sector, innovation lies at the heart of the financial services sector's growth trajectory. Technological advancements, coupled with changing consumer preferences, have spurred a wave of innovation, transforming traditional financial services delivery models.Fintech companies, in particular, have emerged as disruptors, offering innovative solutions such as digital payments, robo-advisory services, and peer-to-peer lending platforms.

₹5,560 crore (USD 670 million). This investment includes both new capital and share purchases. This is the largest foreign investment in India's general insurance sector and the first major investment since the FDI limit was raised from 49% to 74% in 2021 in the insurance sector.“The acquisition of Kotak General Insurance sets the way forward for Zurich to be a leading player in a very significant growth market – India.

Hong Kong digital asset exchange OSL ’s Chief Financial Officer David Wu says that the government might introduce a new license to advance crypto regulation.

MUMBAI : Sanitaryware maker Varmora Granito, backed by global private equity firm Carlyle Group, is looking to raise $100-150 million in a pre-public listing round, two people familiar with developments in the company said. The mix of primary and secondary fundraise from private equity investors is expected to see the company valued at ₹5,000 crore (nearly $600 million), the people added. “There is significant inbound interest from funds that are willing to invest in the company," said one of the persons cited above.

Chinese Premier Li Qiang is set to talk with Malaysian Prime Minister Anwar Ibrahim with the two countries due to ink new cooperation pacts on digital economy and green development as they mark 50 years of diplomatic relations

Indian policymakers Tuesday met industry representatives on the impact of the proposed Digital Competition Bill on data and digital markets after stakeholders seemed to have widely different opinions on the regulations, with some backing its provisions that others believe could deter investments. Nine industry associations and representatives of government bodies, besides executives from some companies, were present at the MEITY meeting, sources said.

TPG Capital has emerged the lead contender for about 60% of Michigan-based digital services company Altimetrik, said people aware of the development. Altimetrik, owned by Indian American entrepreneur Raj Vattikuti, is being valued at $1.5 billion (₹12,500 crore), they said. TPG's Asia investment platform TPG Capital Asia has signed an exclusivity agreement with the promoters, said the people cited. Jefferies is advising the promoter.

In the panel session ‘Challenges and benefits of CBDCs, tokenised deposits, and stablecoin adoption’, speakers David Cunningham, head of strategy and partnerships for digital assets, treasury, and trade solutions at Citi; Manuel Klein, market management payments and digital currencies, cash management at Deutsche Bank; Alessandro Roveda, head of network services solutions at Nexi Group; Gilbert Verdian, founder and CEO of Quant; and Phoebe Zhou, head of emerging payments, GPS Europe at HSBC, discussed how various countries manage public and private money.