Digital Financial News

Paytm, Ola, ITC, Sleepy Owl, Boat, Swiggy, Zomato, India Post and several small aggregators. ONDC started with grocery and consumer goods, before expanding to include food and beverages, and mobility. It has now expanded its catalogue by introducing home and kitchen services, agriculture business-to-consumer products, beauty and personal care, fashion and apparel, electronics and appliances, health and wellness, financial products, etc.

Senator Elizabeth Warren emphasized the growing danger of cryptocurrency scams targeting seniors. Steve Weisman, a cybersecurity expert, supported Warren's proposed Digital Asset Anti-Money Laundering Act, aimed at curbing these scams.

Dubai's  Virtual Asset Regulatory Authority (VARA) has announced a change in its leadership. Matthew White has been appointed as the new Chief Executive Officer (CEO), taking over from Henson Orser. This transition comes at a pivotal time, as Dubai intensifies its regulatory framework for virtual asset service providers (VASPs).

A memorandum submitted by several U.S. Congress members, including chairs from key financial committees, has called into question the enforceability of the Securities and Exchange Commission (SEC) Staff Accounting Bulletin 121 (SAB 121). This development follows a decision by the Government Accountability Office (GAO) characterizing SAB 121 as a rule under the Congressional Review Act.

The New York State Department of Financial Services (NYDFS) has revised its guidelines on the listing and delisting of cryptocurrencies. This move aims to bolster investor protection and ensure that virtual currency businesses adhere to heightened regulatory standards.

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Bitget – a global crypto exchange and Web3 firm – has launched support for instant Lira to crypto conversions to streamline access to digital assets for Turkish consumers.

Dixon Technologies' subsidiary Padget Electronics will manufacture Xiaomi smartphones at its new Noida factory that has been set with Rs 256 crore investment, it said on Thursday. The factory was inaugurated by IT Minister Ashwini Vaishnaw which is likely to generate around 5,000 new jobs. The manufacturing facility has an annual production capacity of 25 million units.

ProfileTree, now extending their reach to India. This expansion is a testament to the global demand for innovative and effective web design solutions known for their creative flair and technical excellence. In a significant expansion of digital services, ProfileTree now offers specialized web design and digital marketing solutions to Indian businesses and entrepreneurs, specifically designed to target markets in the UK and Ireland.

Dubai, United Arab Emirates & San Francisco, United States & New Delhi, Delhi, India – Business Wire India MIRAI JMAC, a leading advisory and consulting firm, announced the creation of MIRAI Capital Global with an initial corpus of USD 1.5 Billion in a strategic partnership with the UAE Royal Family Office (RFO) of H.H. Sheikh Ahmed Bin Faisal Al-Qassimi.

The Hong Kong Securities & Futures Professionals Association, an influential industry trade group, has proposed the establishment of an initial coin offering (ICO) portal in the city. 

Meta Platforms' advertising-free subscription service, a fee-based offering rolled out in Europe this month, breaches EU consumer laws, Europe's largest consumer group said on Thursday as it took its grievance to consumer protection authorities. The joint complaint from the European Consumer Organisation (BEUC) and 18 of its members to the network of consumer protection authorities (CPC) came two days after advocacy group NOYB filed a complaint with the Austrian privacy watchdog, saying Meta's new service amounted to paying a fee to ensure privacy.

Binance, an official said Thursday, as part of a crackdown on online trading platforms operating in the country without licences. The Securities and Exchange Commission (SEC) announced Tuesday that Binance was not registered in the Philippines and therefore not authorised to sell or offer securities in the country.

Zepz, the money transfer group that owns WorldRemit, made a fresh round of layoffs.

Narendra Modi has highlighted the journey in an op-ed for the Hindustan Times. Here are 10 key takeaways. India's G20 presidency, marked by challenges like the COVID-19 aftermath, climate threats and financial instability, focused on shifting from GDP-centric to human-centric progress.

Auto Finance Search Trends Report - 2023 released by Techmagnate, Indian consumers are increasingly engaging in informed auto finance decisions by conducting broader searches using general terms like "car loan interest rates"or "auto loan eligibility"instead of relying solely on brand-specific queries.This shift reflects a growing awareness of the available options and a willingness to compare and contrast the offerings of different providers. The increasing popularity of electric vehicles is also influencing search behavior, with consumers seeking comprehensive information on financing solutions tailored to these eco-friendly vehicles.

Gurmeet Chadha, Managing Partner & CIO, Complete Circle Consultants, says “Tata Tech is a beautiful company with great digital engineering capabilities. But paying 70-80 times trailing right now with the market also being at a high and the sector facing a lot of headwinds does not make sense at this price to me. But if it comes lower, maybe in three-digits, I would probably want to add it in a staggered manner over a long term.” What does one do now — chase the Tata Tech stock or just wait it out? First, kudos to the Tata Group. This stock probably can be acquired in a staggered manner. This has bridged the premium valuation gaps which the Tata Group had with Elxsi, KPIT, although strictly not comparable. Difficult to really add at this price right now. I was hoping to add probably at Rs 800-900 and then maybe over a three-month period, if you get slightly better prices, it should be a core portfolio stock.

Elon Musk is in your news feed again. The richest man in the world on Wednesday told advertisers who were dropping his social media platform X because of antisemitic posts, to go ‘f**k themselves’. In an interview with Andrew Ross Sorkin in a New York Times DealBook Summit, Musk candidly addressed the recent controversy. Let's take a look at the highlights of this viral conversation:

The Bank of Canada’s public consultations on the creation of a digital Canadian dollar reveal most respondents are opposed to it.

SIM card rules introduced by the government in August this year will finally come into force from December 1. The rules will bring in a slew of changes, including banning the sale of bulk SIM cards, mandatory registration of PoS franchisees, agents and distributors by telecom operators and police verification of SIM dealers, among others. Here's a look at the changes that will be implemented from tomorrow: Under the new rules, PoS agents will have to sign an agreement with the telecom service provider or licensee to dissuade them from indulging in illegal activities.

generative AI lags behind consumer demand and employee usage, a new survey from Adobe suggests. Only 47% of respondents in India said the company they work for currently uses generative AI tools. A remarkable 94% of Indian employees said they had already used generative AI in marketing and customer experience campaigns in the workplace; 52% have employed large language models and 50% have used text-to-image generators to create promotional brand materials and content.