Nexo and Mastercard tie up to launch ‘world first’ crypto-backed payment card

Nexo and Mastercard tie up to launch ‘world first’ crypto-backed payment card

Crypto lender Nexo said it has teamed up with global payments company Mastercard to launch on Wednesday what it calls the world’s first “crypto-backed” payment card. The card allows users to spend without having to sell their digital assets such as bitcoin. These will be used as collateral to back the credit granted. Initially the

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RBI caps lending limits of NBFCs

RBI caps lending limits of NBFCs

The Reserve Bank of India (RBI) has tightened the rules for non-banking finance companies (NBFCs) relating to their large exposures. The exposure of NBFCs for the Upper layer: Exposure must not exceed 20% of its capital base at all times, Board can allow an additional 5%. NBFCs that are into infrastructure finance can have exposure of 25%, with an option of an additional 5% of Tier I capital to a single counterparty.

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India's Non-basmati rice exports grow by 109% since 2013-14

India’s Non-basmati rice exports grow by 109% since 2013-14

Export of India’s non-basmati rice has witnessed tremendous growth of 109% from USD 2925 million in FY 2013-14 to USD 6115 million in FY 2021-22. Export of non-basmati rice has registered a growth of 27% in 2021-22. West African country, Benin is one of the major importers of non-basmati rice from India. As per Directorate General of Commercial Intelligence and

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