Happy Tuesday! Regulatory actions have crippled Paytm Payments Bank’s mobile wallet business. This and more in today’s ETtech Morning Dispatch.Also in this letter:■ BluSmart FY24 revenue jumps■ Drop in renewal deals troubles IT cos■ Ola Cabs CEO Hemant Bakshi resignsPaytm Payments Bank’s mobile wallet business in a spot 109708584Paytm Payments Bank is staring at an uncertain future after the Reserve Bank of India (RBI) asked the bank to stop offering basic banking...
In the wake of a turbulent period for U.S. banks, the Pennsylvania Department of Banking and Securities has shut down Philadelphia-based Republic First Bank, also known as Republic Bank. The Federal Deposit Insurance Corporation (FDIC) has stepped in as receiver, with Fulton Bank assuming nearly all deposits and assets. Republic First Bank Shuttered as FDIC […]
India's EV sector still lacks competition, but entry from international automakers like Tesla will level the playing field, MG Motor India's CEO Emeritus.
At its April 30 meeting, the Board of the Central Bank of Armenia decided to reduce the Refinancing Rate by 0.25 percentage points, setting it at 8.25%. The Lombard Repo Facility Rate was set at 9.75%. The Deposit Facility Rate was set at 6.75%.
India’s economic activity continued to expand in April, driven by strength in both the services and manufacturing sectors, according to a flash survey by HSBC Holdings Plc.
The regulatory action on Paytm Payments Bank has brought the mobile wallet business of the entity, one of its most popular offerings, to a grinding halt. While it cannot add new customers as per the Reserve Bank of India diktat, transactions on the platform have fallen drastically over the last three months as consumers slowly move out of Paytm Payments Bank’s wallet ecosystem.According to data released by the RBI, Paytm Payments Bank reported 7.4 million fund transfer transactions in its...
How a semantic twist gave a major bank a loophole to keep financing fracking.
The Reserve Bank of Fiji, Fiji’s central bank, reminded Fijians that cryptocurrencies were not accepted as legal tender in the country. In a recent press release, the institution reinforced that purchasing cryptocurrency with funds held in Fiji was illegal and that penalties could be applied to citizens doing so without the bank’s approval. Reserve Bank […]
ST. GEORGE — As Washington County continues to grow, so too has the need for expanded services at the Washington County Children’s Justice Center. The ribbon-cutting ceremony scheduled for 10 a.m. on Monday, April 29, will mark the opening of an expansion project that will strengthen access to trauma-informed services for children who have been […]
Samsung India is now offering a one-time free screen replacement for smartphones affected by the green screen issue. The devices covered by the new program include the entire Galaxy S20 series, the S21 series (excluding the FE model), S22 Ultra, Note 20, and Note 20 Ultra. Galaxy S21 and S21 Ultra Owners of these devices have until April 30 to book an appointment with Samsung India Service Center to get their complementary screen replacement. Samsung will also offer a complimentary battery...
“There isn’t much alternative in China. With exchange controls and capital controls, you can’t just look at other markets to put your money into.”
U.S. auto safety regulators have advanced their probe into almost 3 million Honda Motor Co. sedans and SUVs after receiving thousands of consumer complaints over unexpectedly activating automatic emergency brakes. The National Highway Traffic Safety Administration (NHTSA) said it has received 1,294 consumer complaints over emergency brakes in Honda vehicles activating without apparent cause, “resulting in sudden vehicle deceleration.” The regulator said it has received 1,294 consumer...