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Business News Highlights: Please follow this space for all the breaking news and latest updates from the Stock Market, economy and corporate world
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Business News Highlights: Hello and welcome to ABP Live's Business LIVE blog. Please follow this space for all the breaking news and latest updates from the Stock Market, economy, and the corporate world.
The stock markets exhibited volatility throughout the week, with the equity benchmark, Nifty50, also hitting fresh highs during the latter trading half of the week. However, during the last trading session on Friday, the key equity benchmarks, Sensex and Nifty, backtracked on their gains and ended flat as markets closed for the day. After beginning the session with gains, the BSE Sensex settled down by 15 points at 73,143, while the NSE Nifty50 closed at 22,213, down by 5 points.
Further, on Friday, the Reserve Bank of India stated that One97 Communications has asked the National Payments Corporation of India (NPCI) to see whether the body can act as a third-party application provider to ensure continued UPI operations in the Paytm app. The regulator said this move was being taken to help provide uninterrupted services for the fintech app users.
One97 Communications is the parent company of Paytm, whose business segment, Paytm Payments Bank, has been placed under restrictions from the RBI from accepting cash deposits or top-ups in customer accounts, wallets, FASTag, and other instruments related to the lender after the March 15, 2024 deadline.
Problems for Indian edtech start-up, Byju’s, seem to take a turn for the worse. After the Enforcement Directorate (ED) issued a look-out notice (LOC) against the firm’s founder and CEO, Byju Raveendran, citing FEMA violations on Thursday, a group of four investors also sought legal action against the firm’s management and filed a suit before the Bengaluru bench of the National Company Law Tribunal (NCLT) on Friday.
According to a PTI report, the investors sought to declare Raveendran as unfit to lead the firm, urged for the appointment of a new board, and filed a suit for oppression and mismanagement.
Brazil Seeks Closer Economic Ties With India
Brazil's Ambassador to India, Kenneth Félix Haczynski da Nóbrega, highlighted energy, defence, and agro-processing as the three primary pillars for enhancing economic cooperation between the two nations. Addressing a session on 'India-Brazil Fostering Trade Partnership - Focus West Bengal', the diplomat underscored the importance of business-to-business collaborations in sectors such as iron and steel, milk production, leather, biofuels, and aquaculture.
Women Today Are Earning Money And Contributing To Society: Bandhan Bank's CEO
Speaking at the ABP Network's Ideas of India, the MD and CEO of Bandhan Bank, Chandra Shekhar Ghosh, said, “We found out when we worked at the village level that women don't have access to financial services. That is why we started Bandhan Bank. Today, women are earning money and contributing to society and family.”
Uber May Join Hands With Adani Group To Expand Fleet On Green Energy: Report
The Adani Group and Uber are reportedly poised to unveil a joint venture (JV) aimed at facilitating the expansion of Uber's fleet to incorporate alternative and renewable energy sources in alignment with the government's green energy objectives, according to a report by the news agency IANS citing sources.
New WhatsApp Feature To Allow Users To Manage Upload Media Quality
SEBI Is Using AI To Investigate: Kamlesh Chandra Varshney
SEBI's Whole Time Member Kamlesh Chandra Varshney stated on Saturday that the organization is leveraging Artificial Intelligence (AI) for investigations and urged entities to stay updated on technological advancements. Addressing concerns over market manipulations, Varshney emphasized the benefits of compliance with regulations and warned against violations.
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