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Reserve Bank of India (RBI) has cancelled the registration of Lucknow-headquartered Margdarshak Financial Services Ltd over high net NPAs and defaults on repayment to lenders. As on March 31, 2021, the company failed to maintain the minimum regulatory net owned fund of Rs 5 crore and minimum capital adequacy ratio of 15 per cent stipulated for NBFC-MFI, the RBI said, while cancelling its certificate of registration. As per the statutory audit, as on March 31, 2021, the NBFC was facing cash flow issues and defaulted on repayment of Rs 49.27 crore to its lenders. «Further, the auditors have observed that due to losses (Rs 187 crore) and high net NPAs (Rs 82.37 crore) there is material uncertainty which casts significant doubt on the company's ability to continue as a going concern,» the central bank said.

previous week’s funding total of $238.1 million. This week, startups raised funding through 16 rounds compared to 26 rounds in the same period last year, when they raised a total of $47.7 million, according to data from Tracxn.

rare event that could happen in California. There is a chance of snowfall in the High Sierra over 8,000 feet, including areas of Yosemite National Park, due to a powerful and exceptionally cold Pacific storm that is expected to affect the West Coast. The National Weather Service in Hanford, California claims that there hasn't been any snow in this location in August for at least 20 years. Even though little precipitation is predicted, the possibility of snow in August might still present challenges for hikers and visitors on Friday and Saturday, as per the reports of Microsoft Start News.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

select matches of Premier League 2024/25 in 4K resolution. The platform is the official streaming partner of Premier League in India. The top-tier Premier League began on August 17 with the highly anticipated opening fixture between Manchester United and Fulham. Throughout the season, Disney+ Hotstar will stream over 100 matches in 4K on LR (living room) devices that are 4K-enabled. This feature will be available to Disney+ Hotstar users with a premium subscription via the English-language audio feed. This strategic selection ensures that fans will have the opportunity to witness some of the most thrilling and high-octane football action in the league, all in 4K resolution.

Arslan Butt is a professional live webinar speaker and derivatives (cryptocurrency, forex, commodities, and indices) analyst. He brings a broad range of skills to help beginners evaluate financial...

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

Veronika Rinecker is based in Germany, studied international journalism and media management. She specializes in politics and regulation, energy, blockchain, and fintech. Since 2017, she has been...

Reliance-owned Ajio on Friday announced the launch of British fashion brand ASOS on the e-tailor platform. This collaboration has marked ASOS's debut in the Indian online retail market with over 3000 options across its curated portfolio of subsidiaries that include ASOS Design, ASOS Edition, ASOS Luxe and Miss Selfridge. With this tie-up, Ajio has strengthened its repertoire of top exclusive international brands, the company said in a press release. “Indians are exposed to global fashion trends and pop culture now more than ever. With a growing appetite for international brands, ASOS is perfectly poised to tap into the Indian market with India’s favourite online fashion destination AJIO, catering to young Indian shoppers looking for the latest in global fashion,” Ajio’s CEO Vineeth Nair said.

Cred has received certification from NPCI Bharat Billpay to operate as a customer operating unit (COU) on the Bharat Bill Payments System, the company said in a note on Friday. This certification allows Cred to establish more partnerships with major billers and banks on the BBPS platform, speeding up credit card bill payments made through the app. Additionally, Cred users will gain access to process bill payments across all billers available on the BBPS network, the company said on Friday. Developed by the National Payments Corporation of India (NPCI), BBPS is a unified platform that facilitates all forms of bill payments across India.

Fed Chair's speech at Jackson Hole Symposium, where investors will look for cues on rate cut trajectory in the near future. US Fed chair Powell will speak at the event later on Friday, addressing central bankers across the world at 10 am Eastern Daylight Time (EST). In India, this comes to about 7:30 pm Indian Standard Time (IST).

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

SpacePay is a new project that is helping to change the way digital payments are done. The heart and life of this project is the SPY token, which gives holders various advantages.

Indian-Americans have launched a new website — DesiPresident.com, with the tagline 'Kamala Ke Saath". Harris, 59, is of mixed parentage; her mother immigrated to the United States from Chennai and her father moved to the country from Jamaica. «The coming months are filled with excitement and promise as we rally together to make history. Your participation and enthusiasm are key to our success, and we can't wait to embark on this journey with you,» the website said. The Desi President, a project of the Indian American Impact Fund, has launched a T-shirt with the tagline «Kamala Ke Saath: Vote Kamala», which has become an instant hit on social media platforms.

Nvidia and Jeff Bezos-backed Perplexity AI said on Thursday that it plans to introduce advertising on its artificial intelligence-powered search platform by the fourth quarter. Last month, the AI startup launched a program for publishers with an initial batch of partners, including TIME, Der Spiegel, and Fortune, in which it plans to share revenue from interactions where a publisher's content is referenced. Since ChatGPT first launched in November 2022, major search engines have been trying to integrate AI into web search, and analysts have viewed AI-assisted search as a threat to Google's dominant position in the industry ever since the AI boom started.

Baidu said its leading position in AI in China means it is well positioned to navigate an increasingly competitive market despite reporting a decline in quarterly revenue. The comment came amid an AI price war in China, where companies have slashed prices of large language models used to power generative AI products. «Competition will be fierce over the next 2 to 3 years.» Baidu CEO Robin Li said in an earnings call following the company's Q2 release.

A one-time congressional candidate and romantic partner of a convicted FTX executive has been arrested on campaign finance charges

A federal appeals court has revived an antitrust lawsuit the District of Columbia brought against Amazon

₹2 crore ($240,000). While tournaments of this scale are good for gamers, the rising crop of professional esports players have a problem—they’re not being able to monetize their gameplays and social media presence.

₹10 crore from the SSE of the National Stock Exchange (NSE), with Screwvala calling the process of reaching out to donors the “equivalent of a book-building exercise". In an interaction with Mint, Screwvala said that while the listing process was not simple, the disclosures were necessary to maintain credibility. Wary of the complexity, only about a dozen NGOs have listed and raised money from SSEs so far.