The Enforcement Directorate has initiated a money laundering investigation againstPaytm Payments Bank Ltd, Republic TV sources said on Wednesday. This action comes amidst heightened scrutiny over alleged violations of foreign exchange regulations by the fintech. However, Paytm has vehemently denied these accusations, terming them as “factually incorrect”. This probe adds to the challenges faced by...
Less than two weeks after disclosing a plan to dispose of as many as 50 million shares of the company he founded, Bezos has offloaded 24 million shares, worth more than $4 billion. The sales, revealed in regulatory filings, took place over just four trading days. The world’s second-richest person previously hadn’t sold stock since...
Indian equity indices ended lower on February 12 with Nifty around 21,600, amid selling across the sectors barring IT and pharma names. At close, the Sensex was down 523 points or 0.73 percent at 71,072.49, and the Nifty was down 166.50 points or 0.76 percent at 21,616.We wrap up today’s edition of the Moneycontrol live...
Reserve Bank of India Governor Shaktikanta Das on Monday said there was “hardly any room” to review the action taken against Paytm Payments Bank. In a major action against Paytm Payments Bank (PPBL), RBI, on January 31, directed it to stop accepting deposits or top-ups in any customer accounts, wallets, FASTTags and other instruments after...
Reserve Bank Governor Shaktikanta Das on Thursday said there are no systemic worries and the action on Paytm was driven by a “lack of compliance” at Paytm. Deputy Governor Swaminathan J said the actions against the fintech have been taken due to “persisted non-compliance”. The Governor declined to specify the specific shortcomings resulting in the...
The Indian mogul has regained much of his wealth after a short-seller attack sent it plunging in early 2023. On Wednesday, Adani’s net worth climbed $2.7 billion to $100.7 billion, the highest it’s been since Hindenburg Research accused his Adani Group of “brazen” market manipulation and fraud — allegations the Adani Group denied. Shares of...
Nasdaq-listed Cognizant Technology Solutions has forecast its revenue for FY24 to be in the range of $19.0 to $19.8 billion, reflecting a decline of 2 per cent to a growth of 2 per cent in constant currency terms. The firm, based in Teaneck, New Jersey, reported a 7 per cent increase in net profit at...
Shares of YES Bank Ltd, Bandhan Bank Ltd and IndusInd Bank Ltd rallied up to 13 per cent in Tuesday’s trade after the Reserve Bank of India (RBI) gave nod to HDFC Bank Ltd to acquire up to 9.5 per cent stake each in the two private lenders. YES Bank shares jumped 12.63 per cent to...
Elon Musk’s use of illegal drugs was common knowledge among several current and former Tesla Inc. and SpaceX directors, the Wall Street Journal reported on Saturday. There was concern about the volume of Elon Musk’s illegal drug use and that he consumed drugs with some of his board members, the newspaper reported, citing people who...
The Biden administration on Thursday notified the US Congress on its proposed supply of 31 MQ-9B Predator long endurance drones to India, in a significant forward movement to firm up the mega deal that was announced during Prime Minister Narendra Modi’s visit to Washington in June last year. The Defence Security Cooperation Agency of the...