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The Reserve Bank of India (RBI) Governor Shaktikanta Das stated that Unified Lending Interface (ULI) will have a nationwide launch in due course. Like Unified Payment Interface (UPI), which has completely changed the nation’s retail payment system, the ULI will change the lending environment. What did the RBI Governor Announce? The RBI started a pilot […]
The Unified Pension Scheme (UPS) for employees has been implemented by the Maharashtra State Government, making Maharashtra the first state in India to do so. The decision came after the demands from central government employee organizations. Now, the state government employees are entitled to receive a pension equal to 50% of their average salary over […]
The Securities and Exchange Board of India (SEBI) has fined Rs. 624 crore on Reliance Group Anil Ambani Chairman and 24 others for allegedly embezzling money from Reliance Home Finance Limited (RHFL). The market regulator has also banned Anil Ambani from accessing the securities market. Additionally, for a period of five years, individual entities are […]
In an exchange filing on 21st August, the digital payments firm Paytm said Zomato will acquire the movie and events ticketing businesses of Paytm for Rs 2,048 crore. Paytm said it will now focus on core payments strengthening and distribution of financial services. Parent Organization of Paytm – One 97 Communications Limited said, “Paytm agrees […]
For the second consecutive year, the Reserve Bank of India (RBI) Governor Shaktikanta Das has been rated “A+” among all the central bank chiefs around the globe. The governor was praised by Prime Minister Narendra Modi, who claimed that this demonstrated the governor’s leadership. Apart from RBI Governor, Denmark’s Christian Kettel Thomsen and Switzerland’s Thomas […]
The rules governing investments in housing finance companies (HFCs) and non-banking finance companies (NBFCs) have been updated by the Reserve Bank of India (RBI). The RBI has made changes to the guidelines for accepting public deposits in the circular, including those that pertain to nominations, repaying public deposits to cover unexpected costs, notifying depositors when […]
A significant step forward for India’s space aspirations has been achieved by the Indian Space Research Organization (ISRO) with the successful completion of the third and last developmental flight of its Small Satellite Launch Vehicle (SSLV). The Earth Observation Satellite (EOS-08) and the passenger satellite SR-0 DEMOSAT were carried by the SSLV-D3 mission, which properly […]
In order to prevent unintentional data exposure, Sebi has advised that registered investment advisers and research analysts who use artificial intelligence (AI) tools in their services notify customers about the level of utilization. For customers to make educated decisions regarding their advisory services and to comprehend how AI technologies impact their investing decisions, there must […]
On August 12, 2024, the Central Government named Deepak Sood as a Whole Time Member (Non-Life) of the Insurance Regulatory and Development Authority of India (IRDAI). At present, Sood holds the positions of Non-Executive Director at Gimar Insurance Brokers and Independent Director at Prudent Corporate Advisory Services Limited. He will have the position of Whole […]
Hindenburg Research in a post on X on 11th August said “Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch’s response to our report includes several important admissions and raises numerous new critical questions.” Hindenburg Research stated that SEBI was tasked with investigating investment funds relating to the Adani matter, which would include […]