April 2nd, 2018Veritas Finance, a Non-Banking Financial Company (NBFC) based in Chennai received Rs 23 Crore as in debt financing from Incofin Investment Management which is a fund manager company based in Belgium. The NBFC first allotted 230 Non-Convertible Debentures (NCDs) worth Rs 10 lakhs each on March 26, 2018.
So far, Veritas Finance raised...
March 10th, 2018Airtel Payments Bank is seeing red this week after the Reserve Bank of India imposed a Rs 5 Cr penalty on the company for violation of operating guidelines and Know Your Customer (KYC) norms.
After receiving several complaints and media reports asserting that the bank had opened customer accounts without the explicit consent of the...
January 21st, 2018India's leading banks suspended some accounts of major Bitcoin exchanges in India. According to the sources, the reason of this move is suspicious transactions from exchanges side.
Banks who suspend bitcoin transaction accounts are State Bank of India, Axis Bank, ICICI Bank, HDFC Bank and Yes Bank. The accounts of...
December 1st, 2017India’s economic growth rebounded in the three months ending in September, halting a five-quarter slide as businesses started to overcome teething troubles after the bumpy launch of a national sales tax.
Data released on Thursday showing faster growth could help Prime Minister Narendra Modi, who has been facing criticism over the...
October 27th, 2017Mobile wallets will become strong players in the financial ecosystem as the RBI guidelines on prepaid instruments will allow more features like unlimited transfer of funds between a bank account and a wallet, a top official of Paytm Payments Bank said.
Paytm Payments Bank MD-CEO Renu Satti said the RBI guidelines released this month...
August 23rd, 2017The government today gave its go-ahead to the Reserve Bank to issue Rs 200 notes that will ease pressure on lower-denomination currency bills.
The finance ministry, in a notification, said that on the recommendations of the Central Board of Directors of the RBI, "the central government hereby specifies the denomination of banknotes of...
June 21st, 2017Paytm has applied for a licence to set up a money market mutual fund that will enable the company to expand its financial offerings to consumers.
According to sources, Paytm has applied to the Reserve Bank of India (RBI) to start the fund in the coming months, a move that will enable the company to increase revenues from financial...
May 22nd, 2017Kotak Mahindra Banks promoter Uday Kotak today sold 1.8 crore shares of the private sector lender for a little over Rs 1,687 crore, bringing down his stake to below 30 per cent to meet the RBI directive.
The shares were purchased by several entities, including Canadian pension fund Caisse de Depot et Placement du Quebec and Fidelity...
April 16th, 2017The email address launched by the Finance Ministry for getting tips about black money received over 38,000 emails, but only 16 per cent of them were forwarded for further inquiry, CBDT said in a reply to an RTI query earlier this month.
Jitendra Ghadge, a city-based Right To Information activist, had asked for information about...
March 11th, 2017The Reserve Bank of India today formally launched a mobile application version of its website on Android and iOS platforms. The application can be downloaded from the Play Store/App Store, using the keyword 'Reserve Bank of India'.
To start with, the most accessed sections of the website press releases, IFSC/ MICR codes, bank...
September 18th, 2016India is setting a new global standard in fintech. A new instant online payments system, tied to national biometric identity data, launched in recent weeks. Together with an explosion in smartphone usage, this could help the world’s fastest-growing large economy skip traditional financial infrastructure like cash machines, debit cards...
September 17th, 2016Mobile payment firm Paytm, which has remained restricted to the digital format this far, will soon have physical branches and touch points, a top company official said today.
"We will have physical touch points in various formats. We have submitted a 12 months business plan," Paytm Payment Bank VP Ruchita Taneja Aggarwal said on the...
