Paytm Money, the wealth management arm of digital payments major Paytm, is about to open up IPO investments for its users, the corporate said during a press note on Monday. This is a part of the Alibaba- and Softbank-backed Paytm’s overall aim to expand its financial services bouquet and match larger tech brokers like Upstox, Zerodha and 5Paisa in terms of offerings.
The Reserve Bank of India has turned down the proposal of Muthoot Finance Ltd. to acquire IDBI Bank’s mutual fund business, said sponsoring a mutual fund isn’t in consonance with the activity of an operating NBFC. According to a regulatory filing by IDBI Bank Ltd. on November 24, a share purchase agreement with regard to sale of IDBI Mutual Fund to Muthoot Finance was signed on November 22, 2019.
India is probably going to post current account surplus within the current financial year as there’s moderation in import because of under heating of the economy triggered by the COVID19 crisis. This crisis is different from what the world witnessed during the taper tantrum, Said Chief Economic Adviser K V Subramanian on Monday
Mindtree Ltd. the mid-sized software services exporter signed a 5 year deal with a leading wind turbine maker company. The Nordex Group has chosen Mindtree for its business transformation partner to simplify and modernise and transform its entire IT landscape globally, while providing scalability to support the company’s growth plans, consistent with an exchange filing by the Indian company. The size of the deal, however, wasn’t disclosed.
Kolkata based Emami Ltd. is seeking to take advantage on Indian consumers slowly leaning towards homegrown brands following the government’s ‘Atmanirbhar bharat’ campaign for its newly launched home hygiene products besides tapping on increased awareness due to Swachh Bharat initiative, according Emami Ltd. Director Mohan Goenka.
