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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The central bank hasn’t completely abandoned the plan to create an alternative to India’s flagship payment processor. But the competing consortiums, including the likes of Reliance, Tata, Google and Meta, still have a long way to go.
Early last year, the Reserve Bank of India reportedly put on hold its plan to create “new umbrella entities”, the proposed private-sector rivals to the National Payments Corporation of India. NPCI is an industry body that runs UPI, India’s state-backed digital payments platform.
However, three industry executives in the know say the central bank is still working to keep the initiative alive and could revive it this year; all three spoke on condition of anonymity.
It was in 2019 that the central bank had first invited companies to forge consortiums and apply for licences to set up new umbrella entities, …
The acquisition of IDBI Bank puts his Fairfax smack dab in the middle of the RBI’s rules on bank ownership. It must now decide whether to sell CSB Bank or merge the two lenders, neither of which will be easy.
Lenders stand to gain a lot more than borrowers in the current challenging market environment
The newly announced levy on UPI payments undermines the very foundation of using digital payments for stock market investing. Brokers are in a tizzy.
