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Ashneer Grover

Ashneer Grover Alleges Deliberate Fraud by BharatPe: and urges an RBI Investigation

New Delhi, India: Ashneer Grover, co-founder and former managing director of BharatPe, has raised serious concerns about the company’s shareholding practices. Specifically, in a letter addressed to Reserve Bank of India (RBI) Governor Shaktikanta Das, Grover alleges that BharatPe intentionally deceived the regulator by reintroducing Bhavik Koladiya to the company’s cap table. Consequently, these allegations

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RBI banking news

RBI Expects the Launch of Interoperable Internet Banking in 2024: Shaktikanta Das.

The Reserve Bank of India (RBI) is poised to revolutionize the digital banking landscape with the anticipated launch of interoperable internet banking in the current calendar year. Governor Shaktikanta Das made this announcement during the inaugural event of Digital Payments Awareness Week 2024 in Mumbai. The Need for Interoperability There is currently a lack of

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finance

The Finance Ministry is likely to postpone the implementation of the 45-day payment rule for MSMEs until April 2025.

The Finance Ministry is considering a significant change in the implementation timeline for the 45-day payment rule aimed at benefiting micro, small, and medium enterprises (MSMEs). According to sources, the enforcement of Rule 43B (h) under the Income Tax Act, which mandates payments to MSMEs within 45 days, is likely to be postponed. Background Story

The Finance Ministry is likely to postpone the implementation of the 45-day payment rule for MSMEs until April 2025. Read More »

Paytm

Paytm payments bank some services will ban but paytm app will be working know answer by paytm

Following the restriction on certain services of Paytm Payments Bank, can you still perform money transfers using the Paytm app? The company provided this response. Paytm Payments Bank Hit by RBI Restrictions: What You Need to Know Effective February 29, 2024, Paytm Payments Bank faces significant limitations imposed by the Reserve Bank of India (RBI).

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MSMEs and SME Updates

31.6 million MSMEs registered With Gov. in July,2020 to Dec,2023

31.6 million MSMEs registered With Gov. in July,2020 to Dec,2023 Here is a child-friendly summary of the article about MSMEs registered With Gov: MSME stands for Micro, Small and Medium Enterprises. MSMEs are small businesses that provide goods and services in our country. Examples are local shops, factories, handicraft makers etc. The Indian government keeps

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92% out of the outstanding loans

92% out of the outstanding loans are derived from housing personal auto credit card debt.

92% out of the outstanding loans are derived from housing personal auto credit card debt. Here is a summary about the majority of loans being for housing and personal use report Published By RBI 2023: The Reserve Bank of India (RBI) released some data about loans people have taken from banks. The RBI found that

92% out of the outstanding loans are derived from housing personal auto credit card debt. Read More »

UPI regulation

UPI transaction rules 2024: New regulations applicable from January 1

UPI transaction rules 2024: New regulations applicable from January 1 summary about new UPI transaction rules from January 1, 2024: UPI or Unified Payments Interface allows us to easily make payments from our bank accounts using our phones. You may have seen your parents use apps like Google Pay, PhonePe and PayTM that use UPI.

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