Tata Group chairman N Chandrasekaran gave a sneak peek of the ‘TataNeu’ super app to its senior leadership on Tuesday. While the commercial launch of the TataNeu is still some months away as several pieces are yet to fall in place, the group will open up the platform only for use among its employees.
Yields on benchmark 10-year US Treasuries were at their highest since June on Tuesday. US Fed Chairman Jerome Powell on Tuesday cautioned that the recent rise in inflation may last longer.
The Supreme Court, earlier this month, directed statutory authorities including NCLT, Competition Commission of India (CCI) and market regulator Sebi not to pass any final order related to the merger deal for next four weeks.
Without naming the Google and Equitas tie up to garner deposits, T Rabi Sankar, RBI deputy governor while speaking at the Global FinTech Fest also said that entities other than banks are not allowed to directly deal in deposits.
Hospitality startup approaches Delhi High Court to restrain Oyo from modifying its shareholding structure or cap table including by way of an IPO. Oyo is also seeking a stay on the arbitrator award.
The small finance bank is now formulating a strategy where it would offer its customers 5-7 transactions free per month when they use the ATM network of other banks to withdraw cash.
The Global FinTech Fest, has been organised by Internet and Mobile Association of India (IAMAI), along with its sister organisations Fintech Convergence Council (FCC), Payments Council of India (PCI), and National Payments Corporation of India (NPCI).
ICICI Prudential Mutual Fund (MF), SBI MF, SBI Life Insurance Co Ltd, Axis MF, UTI MF BNP Paribas Arbitrage, Max Life Insurance Company and HSBC Global Investment Funds are among the anchor investors.
HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments. As of June 30, 2021, Standard Life held a 21.23 per cent stake in the mutual fund house, while HDFC owned 52.65 per cent.
The proceeds of the issue are proposed to be used for business purposes, investments, repayment or prepayment of certain loans and for general corporate purposes, it added.
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