Digital Financial News

Yao Qian, the influential figure behind China’s central bank digital currency (CBDC) project, is currently under investigation for suspected “violations of discipline and law.”

Arvind Kejriwal's wife Sunita Kejriwal will spearhead AAP's Lok Sabha campaign in the national capital and other states, which begins with her maiden roadshow on Saturday in support of party's East Delhi candidate Kuldeep Kumar, senior party leader Atishi said. Addressing a press conference here, Delhi minister Atishi said Sunita will seek votes and blessings for the Aam Aadmi Party (AAP) in the absence of her husband who is in judicial custody. «In protest against the arrest of Arvind Kejriwal, his wife Sunita Kejriwal will campaign to seek blessings for him and to seek votes for AAP candidates. She will seek blessings for him from the people of Delhi, Punjab, Gujarat and Haryana,» Atishi said. «She will hold a roadshow in East Delhi tomorrow and will seek blessings from the people of East Delhi for Arvind Kejriwal. On April 28, she will hold a roadshow in the West Delhi Lok Sabha constituency,» Atishi added.

RBI) on Friday proposed that lending service providers (LSPs), acting as agents of banks, should give information on all the loan offers available with them to borrowers so that they can make an informed decision. Many of the LSPs offer aggregation services for loan products. LSP is an agent of a regulated entity (RE) who carries out one or more of lender's functions or part thereof in customer acquisition, underwriting support, pricing support, servicing, monitoring, recovery of specific loan or loan portfolio on behalf of REs in conformity with extant outsourcing guidelines. In December last year, the RBI announced to issue draft framework saying connected lending or lending to persons who are in a position to control or influence the decision of a lender can be of concern, if the lender does not maintain an arm's length relationship with such borrowers.

Gen Z, the generation born between the mid-1990s and the early 2010s, is entering adulthood in a world characterised by significant financial uncertainty. The lingering effects of the global financial crisis, coupled with rising student loan debt, a gig economy with fluctuating income, and an ever-increasing cost of living, have created a challenging financial landscape for this young generation. In this environment, having a fixed income source becomes a critical factor in establishing stability and building a solid financial foundation.

As Bitcoin climbs to $64,500 with a modest gain of 0.50% on Friday, the market remains keenly observant for shifts that might influence future Bitcoin price predictions. Recent interest spikes following the sale of a rare “epic sat” from the fourth Bitcoin halving for $2.1 million underscore Bitcoin’s collectible and historical value.

Digital asset investment manager Pantera Capital reportedly aims to raise over $1 billion for a new  fund that will  provide investors with exposure  to  a wide range of blockchain-based assets.

China’s vision of the future of the automobile — electrified and digitally connected — is on display at the ongoing Beijing auto show

IndusInd Bank shares fell 2 percent in intra-day deals today, April 26, after some brokerages cut EPS (earnings per share) estimates for the private sector lender despite it posting a 15 percent jump in its March quarter (Q4FY24) net profit. The bank reported a 15 percent rise in net profit at ₹2,349 crore in Q4FY24 versus a net profit of ₹2,043 crore in the year-ago period. Meanwhile, net loans grew 18 percent, outpacing the 14 percent growth in deposits.

Cboe plans to close its spot crypto trading platform by Q3, with cash-settled crypto futures moving to the Cboe Futures Exchange by 2025.

Narendra Modi wants to export India’s digital payments system to the world. That plan now risks stumbling as clunky technology used by Indian lenders fails to keep up with his ambitions. In recent years, the fastest-growing major economy has invested in a vast ecosystem of technologies to increase financial inclusion and pull hundreds of millions of Indians into the digital marketplace. Today, the nation’s homegrown payments system, United Payments Interface, or UPI, is used to pay for practically everything, from expensive jewelry to a 10-rupee cup of piping hot tea. Also Read: RBI asks Kotak Mahindra Bank to stop issuing fresh credit cards, onboarding fresh customers via mobile banking

Sanjiv Bhasin, Director, IIFL Securities, says “in midcap IT, we are overweight on LTIM. We have been very positive on HCL Tech and Wipro. Wipro is our top largecap pick along with HCL Tech. However, the real fire in the belly is BHEL and Ircon. Put your money there because those are going to be the real outperformers at least till the elections.” Yesterday there was a good short covering. The May series will see a confluence of a lot of factors – the progress of monsoon, progress of polls, progress of earning season and now the US data. What do you think? Sell in May and go away will work or just like last time round, it would not work this time as well? Sanjiv Bhasin: You have been on a nice holiday in April. I suggest you take another break in May because yes, selling in May and going on a holiday is very much on the card. Markets have ignored all news and are relentless in their rally to upside and now all good news including NDA getting 450 seats on the poll front are also getting priced in. So, I would advise a lot of caution, particularly in stocks and sectors, which are not aligning with the growth which has come.

Will cease to function if forced to break encryption, WhatsApp tells Delhi High Court WhatsApp and its parent firm have challenged Information Technology Rule 4(2) of the 2021 IT (Intermediary Guidelines and Digital Media Ethics Code) that compels "significant social media intermediaries" to "enable the identification of the first originator of the information" which may be required by a court order or other competent authority. WhatsApp has unequivocally said it would not break its end-to-end encryption as it argues it would violate users' privacy.

Joe Biden inked a legislation to ban or force a sale of Chinese app TikTok. While passing the bill, the US Congress members said the app presents a national security threat as long as it is controlled by or connected to ByteDance. However, TikTok has strongly denied the allegations saying it has never share US user data with Beijing and it will never do so.

Trust & Will, a leading digital estate planning and settlement platform in the US, is taking a huge leap forward with its latest partnership.

Silicon Valley-based venture capital firm a16z Crypto, the crypto arm of Andreessen Horowitz, issued a stern warning on April 25 to startup founders considering token sales in the United States. 

As BlackRock’s 71-day ETF inflow streak comes to an end, the Bitcoin market faces new uncertainties.  Despite a modest increase to $64,165, Bitcoin’s trading dynamics hint at potential volatility. This update provides a Bitcoin price prediction in light of recent financial shifts.

The relentless hard work has finally paid off, leading to a highly successful debut in the market. BlackCard Credit Card is introducing the BcCoin Token. The AI technology enables you to effortlessly spend your cryptocurrency anywhere traditional debit cards are accepted. Say goodbye to limitations and embrace the freedom to use your digital assets for daily purchases, online shopping, and ATM withdrawals.  

Eternal gold bug Peter Schiff had a fierce warning for Bitcoin’s faithful on Wednesday, claiming the digital asset is on the verge of losing substantial and precarious technical price support.

Wibmo, a provider of authentication services for online digital payments, is building a complete payment gateway solution. By creating a prepaid issuance stack and a neo-banking solution for banks, Wibmo aims to support digital distribution capabilities of large banks and financial services firms.

Zomato senior executive Mohit Gupta and Myntra founder Mukesh Bansal have raised $26 million in seed money for their omnichannel fashion startup Lyskraft, making it one of the largest early-stage rounds for an Indian startup amid the ongoing funding crunch. The round was led by Peak XV Partners, formerly Sequoia Capital India, Gupta told ET, adding that the seed money will help the partnership take forward the plan of building an omnichannel play as a marketplace for premium brands, starting with women’s fashion and subsequently expanding into other lifestyle categories.

private equity fund Advent International is among investors in discussions to acquire a minority stake in Apollo 24/7, the digital healthcare platform of Apollo Hospitals, said two people aware of the development. The buyer is likely to invest about Rs 2,100 crore ($250 million), valuing the subsidiary at about Rs 17,000 crore ($2 billion). Apollo 24/7 is part of Apollo HealthCo, a subsidiary of Apollo Hospitals. HealthCo also houses the pharmacy distribution business and a 25.5% interest in Apollo Pharmacy. It accounts for about 40% of Apollo Hospitals’ revenue. The promoters have been in discussions with various investors to dilute a minority stake in the pharmacy subsidiary for the last couple of years. Talks were previously held with Amazon,