Mobile Financial News

Mint that the country will be a production and export hub for both brands. HMD will start introducing its own brand of devices – smartphones, feature phones, tablets, wearables and hearables – in the coming quarters, while continuing to introduce Nokia smartphones and feature phones across markets, Kunwar added. “We’re looking at India as a sourcing hub and supply-chain hub.

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

The company’s EBIT margin stood at 17.1% for the quarter ended March and the board has recommended a final dividend of Rs 33 per share.

Hotstar, the streaming platform owned by Disney Star, will stream the upcoming ICC Men's T20 World Cup 2024 for free on mobile while charging on Connected TV (CTV), continuing its previous hybrid monetisation model for live sports, said people familiar with the development. In its marketing pitch to sponsors, the streaming behemoth stated that the month-long T20 competition, which will take place in the West Indies and the United States from June 1 to 29, has the potential to reach over 450 million viewers. Between March and August, it has offered brands an additional 150 million incremental reach with entertainment shows like Showtime Part 1 and 2, Kaphal, Special Ops 2A, Pratipashchandra, and Abhimanyu.

Upbit, a Seoul-based exchange located in the upscale Gangnam district, has captured  the majority  of the Korean crypto market.

best electric scooters in India to explore in 2024: Ola Electric's flagship offering is the Ola S1 Pro model. With an ex-showroom price starting at Rs. 1,29,999, it offers a certified range of 195 km, powered by an 11 kW motor capable of reaching a top speed of 120 km/h.

EPF account balance, you can use one of the numerous ways, which include checking details on the Umang app, getting EPF passbook details online, giving a missed call, or sending an SMS. You can find out the process of checking your EPF balance online in the article here. Interestingly, you can get the EPF account details by sending an SMS at 7738299899 from your registered number.

Having no CIBIL score, or a credit file with limited credit history, can lead to a number of consequences. Banks usually subject applicants with no credit history to additional layer of scrutiny. Alternatively, they can even ask for additional documentation to evaluate their creditworthiness. This tends to make the application process lengthier and cumbersome.

₹29, offering premium subscribers ad-free streaming. This initiative seeks to ramp up competition with India's major streaming platforms such as Netflix, Amazon Prime Video, and Disney+ Hotstar. As per a Business Today report, here is a comparison of JioCinema's new subscription plans with those of its competitors in India's OTT market: JioCinema Premium offers a monthly plan at ₹29 and a Family pack at ₹89.

In a big setback for Kotak Mahindra Bank, the Reserve Bank of India (RBI) has restricted the private sector bank from onboarding new customers through digital channels and issuing fresh credit cards, according to a press release issued by the apex bank on Wednesday.

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EVs, while also utilising the country as an export hub for the neighbouring countries. Chung visited India on April 23 to review the group's mid-to-long-term strategies to solidify its position as a leading mobility provider. Hyundai Motor Group is expanding its manufacturing footprint in the Indian region with the establishment of an annual production system of 1.5 million vehicle units for Hyundai Motor India and Kia India combined, the automaker stated.

ICICI Bank mobile banking application called Mobile Pay, claiming that they can view sensitive details of other people's credit cards on the platform. Sumanta Mandal, founder of TechnoFino, in a post on social media platform X (formerly known as Twitter), tagged the bank and the Reserve Bank of India (RBI) to urgently address the issue. "Several users have reported being able to view other customers' ICICI Bank credit cards on their iMobile Pay app.

₹ ₹1,658.75 apiece on the BSE. RBI on Wednesday directed Kotak Mahindra Bank to cease onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect. The central bank has barred the private sector lender from new issuances due to deficiencies in the bank’s IT system in 2022 and 2023.

Kotak Mahindra Bank after the Reserve Bank of India barred the lender from taking on new clients digitally. The BSE Sensex was trading 187 points or 0.25% lower at 73,668. Nifty50 was trading at 22,345, down 57 points or 0.26% at around 9.19 am.

RBI) barred Kotak Mahindra Bank from signing up new customers through its online and mobile banking channels, and issuing fresh credit cards, among the toughest curbs imposed on a scheduled bank. The regulator said Kotak had failed to fix its IT systems after being asked to do so continuously over the past two years. The regulator cited «serious deficiencies and non-compliances» by Kotak in a statement shortly after the stock market closed on Wednesday. The third-most valued private bank in terms of market capitalisation was asked to stop the functions cited «with immediate effect». The stock closed at ₹1,843.05, up 1.64% on the BSE, at a market cap of ₹3.66 lakh crore. Kotak said it would resolve the matter quickly and assured customers there wouldn't be any interruption to services.

By Mary Teresa Bitti

Apple has been upstaging Samsung in terms of revenue growth and exports out of India, but the Korean major is still significantly ahead of rivals in terms of local value addition. Industry executives and market trackers said while the industry average for local value addition in electronics manufacturing hovers around 22-25% currently, an increase from 18% in 2022, Samsung's local value addition is higher. This is partly because Samsung has been manufacturing mobile phones as well as other appliances locally in India much before the government's production-linked incentive scheme came into force and boosted India to become the second largest mobile phone manufacturer.

Army personnel were injured in an ongoing encounter in Bandipora area of north Kashmir on Wednesday. Jammu and Kashmir has witnessed an uptick in such incidents since the beginning of the Lok Sabha elections. This is the second encounter in Kashmir valley in less than two weeks. J&K Police said that a contact was established between militants and armed forces on Wednesday morning in Renji forest area of Bandipora's Aragam village and the search operation is going on. Officials said «two army troopers received bullet wounds during the initial exchange of fire with terrorists and both are stable». The armed forces have pressed helicopters and drones in service for surveillance of the forest area to prevent militants from fleeing. No casualty has been reported from either side, so far.

For millions of American workers, the federal government took two actions this week that could bestow potentially far-reaching benefits

Airline officials say oil sprayed from an All Nippon Airways plane as it landed in northern Japan, but none of the 213 people on board was injured