Mobile Financial News

Coherent Corp, a Pennsylvania (US) based manufacturer of electronics, and instrumentation devices, on Tuesday said it has entered into a memorandum of understanding (MoU) with Guidance Tamil Nadu and IIT Madras Research Park (IITMRP) to start its first global centre of excellence (COE) in Taramani, Chennai. The centre will be located on the IITMRP campus and focus on research and development (R&D) of products and services used in lasers, optical networking components and systems, EV batteries, and compound semiconductor devices for the markets supported by mobile, intelligent, and electric applications.

Punjab National Bank (PNB) has announced the inclusion of India's Central Bank Digital Currency (CBDC) with Unified Payments Interface (UPI) Interoperability in its Digital Rupee mobile application, according to the bank press release. Customers of PNB can now pay their vendors using the UPI QR code by scanning it using the PNB Digital Rupee app, or utilise it to finish a transaction at a vendor outlet. Users of the PNB Digital Rupee App can use their CBDC Wallets to make purchases on the UPI QR of these merchants even if they don't have a CBDC Wallet. The app with this new feature is already live for Android users on the Play store, and it will soon go live for iOS users as well.How it works Digital Rupee known as "eRupee" is issued as legal tender by the Reserve Bank of India. It functions exactly like a sovereign currency and is interchangeable 1:1 with paper money. This electronic wallet will function on your device similarly to your physical wallet and be linked to your bank account.

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London | A looming Europe-wide ban on petrol and diesel cars could hand a large chunk of the European electric vehicle market to the continent’s Chinese rivals, BMW’s chief executive has warned.

G20 summit in Delhi: In order to avert any waterlogging or flood related situation during the upcoming G20 summit, four heavy-duty mobile de-watering trucks, borrowed from Ahmedabad have been deployed at ITPO and Raj Ghat areas. According to an official statement issued by the Lieutenant Governor (LG) office, these vehicles are equipped with high-capacity suction pumps have been brought in by the Delhi Fire Services (DFS) to deal with any contingency like the one recently, where the area in and around the Raj Ghat and ITPO were submerged after heavy rains.

Texas has cast an unexpected spotlight on Lake Belton, revealing a trove of submerged items that have raised concerns among residents. As the water recedes, it has unveiled over 300 tires, prompting the community to mobilize for their removal and raising questions about the lake's safety. In this article, we delve into the situation at Lake Belton, exploring the origins of these tires, concerns regarding their environmental impact, and the community's cleanup efforts.

Mercedes Benz’s research & development (R&D) network, contributing to not only software development but also to electronics and hardware, said Markus Schäfer, chief technology officer of the German luxury carmaker. Mercedes Benz’s first operating system, MB.OS, which will be ready for production in 2024, has been conceived mainly at the company’s 9,000-member R&D centre in Bengaluru. The company’s CEO, Ola Kallenius, said that the luxury carmaker will launch its Concept CLA, showcased at the IAA Munich Motor Show, in 2025, the same year as its European debut.

On August 21, 2023, the Securities and Exchange Commission (SEC)  announced   that it has levied charges against «Titan Global Capital Management USA LLC», a New York-based FinTech investment adviser. The charges stem from Titan's use of «hypothetical performance metrics» in advertisements that the SEC deemed misleading.

credit cards can be linked to UPI. The scope of UPI is now being expanded by the inclusion of credit lines as a funding account, Reserve Bank said in a circular on 'Operation of Pre-Sanctioned Credit Lines at Banks through UPI' "Under this facility, payments through a pre-sanctioned credit line issued by a Scheduled Commercial Bank to individuals, with the prior consent of the individual customer, are enabled for transactions using the UPI System," the RBI said. “Banks may, as per their board approved policy, stipulate terms and conditions of use of such credit lines.

Gala Games CEO Eric Schiermeyer has filed a lawsuit against the company's co-founder, Wright Thurston, alleging the theft of 8.6 billion GALA tokens worth $130 million in early 2021.

onion from its buffer stock has been released in the wholesale markets in 12-odd states and Union territories at prevailing rates in the last three weeks to arrest rising retail prices of the key kitchen staple. National Cooperative Consumer's Federation of India Ltd (NCCF) and National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) have been mandated to sell buffer onion in wholesale and retail markets.

By Duncan Miriri

MUNICH (Reuters) — Chinese electric vehicle maker Xpeng (NYSE:XPEV) plans to expand into more European markets, including Germany, Britain and France in 2024, president Brian Gu told reporters on Monday at the IAA (NYSE:IAA) Mobility motor show in Munich.

French tier 1 supplier Valeo says the automotive industry is facing its biggest revolution as cars become more electric and more intelligent. To accommodate these new trends, cars include more software and car manufacturers are moving from a hardware-based architecture to a software-based architecture, the Software Defined Vehicle. 

Indian Bank has partnered with OneCard to introduce state-of-the-art, mobile-first, contactless, metal cobranded credit cards, OneCard said in a release today. OneCard is a metal credit card designed exclusively for mobile use that FPL Technologies launched and manages in collaboration with issuer banks.

Paytm,on MOnday announced the launch of Card Soundbox.The company in a statement said that empowers merchants to accept both mobile and card payments across all Visa, Mastercard, American Express and RuPay networks through its iconic Soundbox with ‘tap and pay’ that will help merchants scale their business. With Paytm Card Soundbox, the company solves two problems for merchants — accepting card payments along with getting instant audio alerts for all payments. The launch of Paytm’s unique device will transform in-store payments by expanding payment acceptance for merchants by combining Soundbox with NFC or contactless debit and credit card payments with mobile payments.

Hyundai Motor on Monday launched the N brand's first all-electric model, the Ioniq 5 N, in the domestic market as it accelerates its transition to a future mobility solutions provider. The Ioniq 5 N, first unveiled at the 2023 Goodwood Festival of Speed in Great Britain in July, comes with an 84 kWh battery pack and can accelerate from zero to 100 kph in 3.4 seconds, the company said in a statement. The new model represents a new segment of driver-focused high-performance EVs since it boasts advanced cornering and racetrack capabilities as an everyday sportscar, reports Yonhap news agency. It is priced at $58,000 after individual consumption taxes and tax benefits given to environment-friendly vehicles. It can travel about 350 kms on a single charge, the statement said. Ioniq 5 N combines the standard Ioniq 5 model's electric global modular platform (E-GMP) with N's motorsport-bred technologies.

Companies that make up the S&P 500 produce just 3.4% of their revenue from clean-energy sources, which is roughly half what companies on the Shanghai Composite Index earn, according to BloombergNEF. With corporations struggling to make the transition to net-zero emissions, analysts at BNEF looked under the hood of more than 8,000 companies to determine how much of their revenue is attributable to clean energy. “Shifting business models toward greener activities is about more than being virtuous for the sake of the planet,” says BNEF’s Michael Daly. “There’s a huge financial opportunity for companies that help drive the energy transition.”Chinese companies such as solar leaders LONGi Green Energy Technology Co.

Is leave encashment exempted under Sec 10 (10AA) of the Income Tax Act on retirement? Is the money received from an employer towards encashment of pending leaves be considered for exemption irrespective of the number of times I switch jobs? Till March, the encashment limit for an employee was ₹3 lakh. My current employer has paid me ₹1.5 lakh towards leave encashment and this is not taxable. Now that the government has increased this limit to ₹25 lakh, will the exemption limit at my future job with a prospective employer be ₹23.5 lakh? —Name withheld on request As per the tax laws, any payment received by employees from their employer towards encashment of earned leaves at their credit, at the time of retirement, whether on superannuation or otherwise, shall be exempt from tax, subject to the specified limits.

₹57,613 crore PM-eBus Sewa scheme, but stagger it over a period of seven years and release funds based on the distance travelled by these 10,000 e-buses on a per kilometre basis, two people with direct knowledge of the matter told Mint. “After the buses are tendered, the central government will pay on a per kilometre basis, and will not make an upfront investment for these schemes," said the first person mentioned above, a senior government official, who spoke under the condition of anonymity. “The private sector will operate these buses.

Microsoft has announced that it will no longer update WordPad and plans to remove the word processor from a future release of Windows nearly after 30 years. As an alternative, Microsoft will recommend Word, its paid word processor that has always been far more powerful than WordPad, which has shipped with Windows since 1995.