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Financial service company HDFC Bank decided to sell its stake completely from HDFC Education and Development Services (DSPL), based on a regulatory filing of the bank on Saturday. The bank currently owns 100% of this subsidiary. The transaction would be carried out via the Swiss challenge method, according to the filing report. The Swiss Challenge […]
Emirates NBD Capital (EmCap), the investment banking for Emirates NBD Group, on Monday, facilitated a $500 million syndicated revolving credit facility (RCF) for computer maker Lenovo Group Limited. A Syndicated Revolving Credit Facility (RCF) is a type of loan provided by a group of lenders, in this case, it includes EmCap, AL Ahli Bank of […]
Reserve Bank of India (RBI) considered establishing a Digital India Trust Agency (DIGITA) to combat cyber fraud and illegal lending apps, based on media reports from Sunday. The central financial body will verify digital lending apps and maintain a public register of verified ones. Applications without DIGITA’s signature should be considered unauthorized by law enforcement. […]
Financial services company Bajaj Housing Finance has taken significant steps toward its initial public offering (IPO) on Thursday, and aims to achieve a valuation in the range of $9 billion to $10 billion, based on a report of The Moneycontrol. The company intends to collect between $900 million to a billion dollars via the IPO, […]
Oman-based BankDhofar, on Tuesday, launched a contactless payment solution Dhofar-Pay, allowing its customers to seamlessly tap and transfer money with their Near-field communication (NFC)-enabled Android phones for convenience and security. Dhofar-Pay users will have to link their debit card details with their Android phones, transforming the device into a digital card for transactions through a […]
Finance company Policy Bazaar Fintech received approval from its board on Wednesday, to establish PB Pay Private Limited, a wholly-owned subsidiary of the company to operate as a payment aggregator. The company aims to facilitate payment services both domestically and cross-border, subject to approval by the Reserve Bank of India (RBI), by facilitating offering merchants […]
Investment management organization Canada Pension Plan Investment Board (CPP Investments) on Tuesday, committed to investing ₹1820 Crore ($219.1 million) in National Highways Infra Trust (NHIT) units, which is run under National Highways Authority of India (NHAI). CPP Investments said this venture is a component of NHIT’s institutional placement capital raising. As part of the Government […]
National Payments Corporation of India (NPCI), on Thursday, officially authorized Paytm’s Parent One97 Communications Limited (OCL), to participate in the unified payments interface (UPI) as a Third-Party Application Provider (TPAP) within the multi-bank model. Amid the ongoing regulatory issues from the Reserve Bank of India (RBI), One97 Communications is looking to lay off 20% of […]
Indian Prime Minister Narendra Modi shared on social media platform X on Sunday, of India partnering with European Free Trade Association countries through the India-EFTA Trade and Economic Partnership Agreement (TEPA). Established in order to benefit its four member states (Iceland, Liechtenstein, Norway, and Switzerland) and its commercial partners worldwide, the European Free Trade Association […]
Private life insurance company HDFC Life partnered with Gujarat Giants on Thursday, for women’s cricket season, with an aim to encourage women to financially plan for their ambitions while safeguarding the future of their loved ones. Women who are economically empowered have more access to the labor market and can voice their opinions in domestic […]
Financial service provider PayTabs Group said it completed the integration of a national payment method to enhance its payment orchestration platform in the Kingdom of Saudi Arabia at tech event LEAP Expo, on Wednesday. PayTabs said the integration looks to expand its payment processing services to government entities, financial institutions, and fintech companies including transferring […]
The multinational financial institution J.P. Morgan Chase & Co, on Tuesday, became a principal member of France-based payments network Cartes Bancaires (CB) to provide business access to transfer funds via the French payment network by 2024. The investment and commercial bank said it received the license in mid-February to become the US bank to be […]
