Flipkart has joined the UPI trend by introducing its own payment service in collaboration with Axis Bank.
This marks Flipkart’s second financial technology venture with the bank, following the launch of co-branded credit cards in 2019. Initially, the Flipkart UPI service is exclusively available to Android users who can register using the @fkaxis handle, facilitating fund transfers and checkout payments within the Flipkart app.
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Japan’s Nikkei 225 Stock Average has surpassed the significant threshold of 40,000 for the first time, signaling potential for further gains in its historic rally. The blue-chip index rose 1% to 40,301.30, reaching a new intraday record.
Japan’s Nikkei 225 breaches key 40,000 level for first time -
SEBI has granted approval for Digit Insurance to proceed with its IPO after facing compliance issues that delayed the original 2022 plan. Digit, valued at $3.5 billion, initially filed for an IPO in August 2022, but approval was postponed twice due to concerns over the legality of certain share issuances. After addressing these issues,
Sebi clears Fairfax-backed Digit’s IPO after delay
Paytm Payments Bank is facing the possibility of the RBI taking drastic measures, including the cancellation of its banking license, less than two weeks before its scheduled wind-down. After failed due diligence attempts by potential acquirers, concerns over inadequate KYC compliance have deterred interested parties.
The RBI has warned interested entities that they would proceed at their own risk, without any dispensation on compliance. The recent reconstitution of the bank’s board and Vijay Shekar Sharma stepping down as chairman further indicate challenges.
The RBI’s recent FAQ, stating no credits or fresh deposits will be allowed after March 15, 2024, suggests a limited future for the bank. Depositors failing to withdraw funds by the specified deadline will see their amounts transferred to an ‘unclaimed deposits’ account under the DEA Fund Scheme, 2014. As of March 31, 2023, Paytm Payments Bank held ₹3,285.27 crore in deposits, with ₹2,955.96 crore having a maturity of 1–3 years.
All artificial intelligence (AI) models, large-language models (LLMs), software using generative AI or any algorithms that are currently being tested, are in the beta stage of development or are unreliable in any form must seek “explicit permission of the government of India” before being deployed for users on the Indian internet, the government said.
The Union Minister for Electronics & Technology has however issued a clarification on the same via tweet
