Business

RBI restricts Paytm Payments Bank services starting March 2024; here’s why

NEW DELHI: The Reserve Bank of India (RBI) has implemented restrictions on Paytm Payments Bank, prohibiting the entity from providing additional banking services starting March 2024. This action stems from concerns related to the breach of regulatory norms and compliance issues. “The Comprehensive System Audit report and subsequent compliance validation report of the external auditors […]

SHOCKER: Days after I-T seizes Rs 400 cr cash, tainted Bhutani Group bags UP’s film city bid

Other bidders now say that Bhutani Group, facing I-T probe, has taken advantage of financial lacuna in the bid document by YEIDA by quoting such astronomical figure of 18% revenue when the minimum ask was 5 % and that it is also not clear if a tainted real estate company like Bhutani would be in a position to either deliver commercials or handle a sensitive project like this.

Vivo PMLA: More arrests likely, after ED arrests Chinese CEO

NEW DELHI: The Enforcement Directorate (ED) is awaiting additional arrests in the Chinese firm Vivo India’s Prevention of Money Laundering Act (PMLA) case, on Tuesday. Presently, the ED has summoned more persons to join the cohort of interim Chief Executive Officer (CEO) Hong Xuquan, alias Terry, alongside consultant Hemant Munjal and Chief Financial Officer (CFO) […]

Year Ender 2023: From Hyundai to Tata, these are the electric cars launched in India

The year was a phenomenal game-changer when it comes to the revolutionary gamechanger in the electric vehicles quotient in India. From EV leaders Tata to South Korean giants Hyundai, all were a part of the big boom in the transport industry in the country. To put matters into perspective, over six major electricity operated cars […]

Special coal Court acquits US-based energy conglomerate, first instance in history

NEW DELHI: Power giant, AES corporation, and its director were acquitted after a Special Court passed a verdict in their favour on the coal scam case, on Tuesday. The bench led by Special Judge Arun Bharadwaj passed the verdict in accordance to a case filed against them by the Central Bureau of Investigation (CBI). Tanvir […]