The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1,90,000/- (Rupees One Lakh Ninety Thousand only) on Muthoot Finance Limited (the company) for non-compliance with certain provision of ‘Know…
Month: July 2024
Wazirx reports major secutity breach; $230 million assets stolen
On July 18, WazirX, India’s largest cryptocurrency exchange, confirmed a security breach that prompted the temporary halt of INR and crypto withdrawals, following an alleged theft of digital assets valued at $230…
RBI Bulletin cites high vegetable prices as a hurdle for disinflation
A report from the Reserve Bank of India (RBI) on July 18 blamed high, persistent food prices as a major hurdle in the path of disinflation. “Every silver lining has a cloud….
Noida-based bank executive allegedly ends life after receiving termination mail
A tragic incident unfolded at a private bank in Noida, where a bank executive reportedly took her own life shortly after receiving a termination email in July. According to media reports on…
Hinduja Tech signs definitive agreement to acquire Tecosim Group
Hinduja Tech(HT), a subsidiary of Ashok Leyland, the Indian flagship of the Hinduja Group, today announced the signing of a definitive agreement to acquire Tecosim Group. This strategic acquisition broadens Hinduja Tech’s presence in the European and international markets and solidifies its position as a leading provider of mobility engineering services worldwide, a press release said….
Moneyboxx Finance announces Equity raise of Rs 271 crore
Non-banking firm, Moneyboxx Finance Limited on July 17 announced equity fund raise up to INR 271 crore in its board meeting held on July 17, 2024. The capital raise includes INR 158 crore through…
Seeds Fincap Raises Over $8.5M Led by Lok Capital and Matrix Partners India
Non-Banking Financial Company (NBFC) Seeds Fincap Pvt. Ltd. raised over $8.5 million in a Series A funding round led by Lok Capital and Matrix Partners India (aka Z47). The funds will enable Seeds Fincap to expand…
Virendra Sehwag invests in Getepay
Jaipur-based fintech start up Getepay has announced investment by cricketer Virendra Sehwag to expand digital payments business. “I am thrilled to be onboard Getepay and be a part of their digital innovation journey….
Global Banks searching for calmer Waters, says S&P midyear outlook 2024
Standard and Poor’s on July 17 said its base case for the global banking sector is for ratings stability to continue over the next one to two years. About 75% of bank…
Kotak Mahindra Bank announces new distribution structure under Pranav Mishra
Kotak Mahindra Bank on July 16 annoucned its new distribution structure as part of its growth strategy under Pranav Mishra . The distribution structure integrates the Physical branch network, Digital Branch channel…