Platform Financial News

Legislation that would authorize a lottery and other types of gambling in Alabama is headed to a conference committee

Venture capital (VC) funding in the crypto space has experienced a surge in the first quarter of 2024, breaking a two-year downtrend.

B Capital, which has backed the likes of Byju’s, Meesho and Pharmeasy in India, has announced two appointments to further expand its climate investment practice. Rich Lesser, global chair and former CEO of Boston Consulting Group (BCG), has joined as vice chair, climate & sustainability and senior advisor, as per a statement.

Mindy Kaling, the comedic genius behind hits like "The Mindy Project," is making a triumphant return to Hulu with her latest creation, "Murray Hill." The streaming platform, known for rescuing «The Mindy Project» from cancellation in 2015, emerged victorious in a competitive bidding war for Kaling's new single-camera sitcom. This marks a significant milestone as Hulu grants Kaling a script-to-series commitment, signaling confidence in her creative prowess, as per a report by Collider.

demat account additions, mutual fund inflows, and a significant increase in their stakes in various stocks. As we all know, a demat account is essential for anyone venturing into the stock market (directly) for investing or trading. Similar to having multiple bank accounts, retail investors often open and operate multiple demat accounts.

As the crypto market gears up for a potentially bullish April, all eyes are on promising projects like Solana (SOL), Cardano (ADA), and the up-and-coming Scorpion Casino (SCORP). These platforms have been making significant strides in their respective niches, and investors are eagerly anticipating the possibility of new all-time highs in the coming month.

Ellipsis Labs, a prominent player in the crypto exchange sector, has secured $20 million in Series A funding, with Paradigm taking the lead in the investment round. 

The Brooklyn District Attorney’s office has seized 21 web domains associated with fraudulent cryptocurrency investments and “pig butchering” scams. 

South Korean crypto voice phishing attackers are developing more sophisticated ways to dupe victims out of cash and tokens, a report claimed on April 4.

Two wealth management industry veterans have joined Sanctuary Wealth in leadership roles to build on the firm’s network of partner firms with around $30 billion in assets under management.

Radhika Gupta, the CEO of Edelweiss Mutual Fund, recently shared tips for parents to start investing for their minor kids. Radhika shared five key tips for parents to guide them about investing for their kids, sparking conversations among readers, prompting inquiries and discussions. Addressing doubts and misconceptions, Gupta also debunked myths surrounding minor investments. In a recent post, Gupta clarified common concerns, stating, «You can get a PAN for a minor as soon as they are born. You need a birth certificate and Aadhar first. You can open a bank account for a minor.» She further emphasized, «You can invest for a minor in their name in an AMC in regular funds (not just children’s funds).»

Bank Digital Currency (CBDC) transaction volumes have gone down after crossing 10 lakh in late-December 2023, Reserve Bank of India Governor T Rabi Sankar said on Friday. The overall number of transactions has touched 2.2 crore since the launch of the CBDC pilot on December 1, 2022, Sankar said, adding that the number of participants in the pilot stands at 50 lakh. «Volumes have not been the same, they have come down,» Sankar said, adding that the target of 10 lakh a day was met earlier on the back of measures such as interoperability with a very popular UPI platform. As per a news report, banks disbursed employee benefits using the digital rupee in December, which helped the Reserve Bank of India (RBI) meet its target of 10 lakh daily transactions.

Effective from 1 April 2024, the platform reduced custody charges for assets above £500,000 – any assets below the threshold will continue paying 0.2% a year. For assets between £500,000 and £1m, charges will drop from 0.2% to 0.175%. Charges for assets between £1m and £15m will remain the same at 0.15%; while those between £1.5m and £2m will have charges cut from 0.1% to 0.075% and assets above £2m will pay no charges whatsoever. AJ Bell platform assets hit record £76.2bn as inflows soar 62% The platform also increased interest rates paid on cash balances. Any cash up to £10,00...

NEW DELHI : The Supreme Court has consolidated multiple pleas challenging the 28% GST on online gaming companies, ordering the transfer of 27 writ petitions to be heard together. During a hearing led by a three-judge bench headed by Chief Justice D.Y. Chandrachud on Friday, the Supreme Court ordered the transfer of 27 writ petitions pending in 11 high courts across the country.

Reserve Bank of India has proposed that CBDC (Central Bank Digital Currency) or, the eRupee, to be accessible to broader sectors of customers by enabling non-bank payment system operators to offer CBDC wallets. . According to the RBI's Statement on Developmental and Regulatory Policies issued on April 5, 2024, “Distribution of CBDCs through Non-bank Payment System Operators CBDC pilots in the Retail and Wholesale segments are underway with more use-cases and more participating banks. Continuing with this approach, it is proposed to make CBDC-Retail accessible to a broader segment of users in a sustained manner, by enabling non-bank payment system operators to offer CBDC wallets. This is expected to enhance access and expand choices available to users apart from testing the resiliency of the CBDC platform to handle multi-channel transactions. Necessary changes will be made to the system to facilitate this.” Further, the RBI governor said during his Monetary Policy Review speech, «The CBDC pilots are currently in operation with increasing number of use-cases and participating banks. It is proposed to make CBDC-Retail accessible to a broader segment of users by enabling non-bank payment system operators to offer CBDC wallets. This will also facilitate testing of the resiliency of CBDC platform to handle multi-channel transactions. „

govt securities by logging on the website. As per the RBI Governor, «The RBI Retail Direct Scheme was launched in November 2021. It is now proposed to launch a mobile app for accessing the Retail Direct portal. This will be of greater convenience to retail investors and deepen the G-sec market. „ As per the statement given by RBI, “RBI Retail Direct Scheme, launched in November 2021, gives access to individual investors to maintain gilt accounts with RBI and invest in government securities. The Scheme enables investors to buy securities in primary auctions as well as buy/sell securities through the NDS-OM platform. To further improve ease of access, a mobile application of the Retail Direct portal is being developed. The app will enable investors to buy and sell instruments on the go, at their convenience. The app will be available for use shortly.»

Winzo Games posted an operating profit of Rs 120 crore in FY23, according to financials submitted to the Ministry of Corporate Affairs. Winzo Games also saw its revenue grow 182% from Rs 242 crore in FY22 to Rs 687 crore in FY23.

Xcelerate, a Singapore-based GRC and ESG investment platform, has acquired a strategic equity stake in Stirrup Communication, India's leading stakeholder communications consultancy, for an undisclosed amount, sources familiar with the transaction said. Stirrup Communication, boasting a current clientele of more than 250, ranging from the Tata Group to the Birla Group, specializes in ESG communications and corporate reporting. Founded by Arvind Agrawal, Stirrup previously operated under AICL Communications Limited (AICL) before transitioning to its current identity. The company has been active in corporate reporting and stakeholder communications for over 17 years, pioneering Integrated Reporting, Sustainability Reporting, and ESG Communication. It has served as a consulting partner for over half of the integrated reports published in India. As part of the acquisition, K V Ramakrishna, former CEO of Kotak Private Equity, and KV Ramanand, CEO of XLSure India, will join the board of Stirrup. Founder Arvind Agrawal will continue to lead the company and report to the board, added another source.

Meta Platforms has rebuffed an attempt by the U.S. Federal Trade Commission to amend a 2020 privacy settlement, noting that it had voluntarily disclosed two technical errors related to its Messenger Kids app to the agency. Meta disclosed the bugs in July 2019, the Facebook-parent said in a filing on Thursday, adding it had spent $5.5 billion on its privacy program and related privacy initiatives.

'We lost almost everything': Indians recall horror during Taiwan earthquake Furthermore, 660 people have been stranded due to road damage and 1,067 have been injured severely. Notably, strict building regulations and widespread public disaster awareness appear to have staved off a major catastrophe on the island. Will Taiwan's earthquake create another chip shortage? Here's all to know Prime Minister Narendra Modi on the X platform wrote that India stands in solidarity with the people of Taiwan.

Politics or films? Kangana Ranaut ready to work full time if… Aam Aadmi Party (AAP) MLA Vinay Mishra took a dig at Kangana on the X platform, saying her a "graduate in Quantum History". "Kangana is the epitome of knowledge...," a user wrote. Congress leader Supriya Shrinate also shared Kangana's statement and wrote, "Don't take her lightly - she will go ahead in the list of BJP leaders".