Business Current Affairs

MobiKwik launches ‘ClickPay’ in collaboration with NBBL for faster bill payments

MobiKwik, one of India’s largest mobile wallets and Buy Now Pay Later (BNPL) Fintech companies launched ‘ClickPay’ for its customers, in collaboration with NPCI Bharat BillPay Ltd. (NBBL), the wholly-owned subsidiary of National Payments Corporation of India. This feature enables MobiKwik customers to pay recurring online bills (such as mobile, gas, water, electricity, DTH, insurance, […]

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JIO Becomes First telecom company To Roll Out UPI AUTOPAY

Telecom major Reliance Jio announced rolling out UPI AUTOPAY feature for both its prepaid and postpaid users in partnership with the National Payments Corporation of India (NPCI). Jio’s integration with UPI AUTOPAY has made it the first player in the telecom industry to go live with the unique e-mandate feature that was launched by NPCI. Using the

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Reliance acquires controlling stake of 73.37% in New York’s Mandarin Oriental hotel for around $270 mn

Reliance Industries Ltd (RIL) has announced the acquisition of a controlling stake in Mandarin Oriental New York, a premium luxury hotel in midtown Manhattan. Reliance Industrial Investments and Holdings Limited, a wholly-owned subsidiary of Reliance Industries Ltd (RIL), has entered into an agreement to acquire the entire share capital of Columbus Centre Corporation, Cayman Islands, for an equity

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Reliance Retail invests $200 mn in Dunzo to acquire 25.8% stake

Reliance Retail has bought a 25.8 per cent stake in Dunzo, India’s leading quick commerce player, for USD 200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. This funding will help the Bengaluru-based startup, Dunzo to become the largest quick commerce business in the country.

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NPCI Bharat BillPay launches Unified Presentment Management System to simplify recurring bill payments

NPCI Bharat BillPay (NBBL), the wholly-owned subsidiary of National Payments Corporation of India (NPCI), has introduced the ‘Unified Presentment Management System’ (UPMS) to simplify bill payments in the country. UPMS will help the customers to set up standing instructions, for any mode and from any channel on their recurring bill payments. Under the UPMS system,

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CryptoWire launches India’s first cryptocurrencies index IC15

The global cryptocurrency app CryptoWire has launched India’s first index of cryptocurrencies named IC15. IC15, which will track the market capitalization and liquidity of top 15 global digital currencies globally, in terms of market capitalization, listed on leading crypto exchanges of the world. The base value of the index is set at 10,000. The base date is set at April

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Apple becomes world’s first company to hit $3 trillion market value

The stock market value of Apple Inc. hit $3 trillion (£2.2tn) briefly on January 03, 2022, becoming the world’s first company to do so. Apple became the first company to have a market value of $3 trillion. Briefly reaching the milestone in the latest demonstration of the tech industry’s pandemic surge. The iPhone maker set

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IRDAI selects LIC, GIC Re and New India Assurance as Domestic Systemically Important Insurers

The Insurance Regulatory and Development Authority (IRDAI) stated on Thursday that Life Insurance Corporation of India, General Insurance Corporation of India and New India Assurance Co Ltd continue to be identified as Domestic Systemically Important Insurers (D-SIIs) for 2021-22. Domestic Systemically Important Insurers (D-SIIs) are the insurance companies that are considered “Too Big to Fail”.

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NTPC plans to buy 5% equity in Power Exchange of India Ltd (PXIL)

NTPC Ltd, a State-owned power generation company has planned to acquire a 5% equity stake in Power Exchange of India Ltd (PXIL). It must be noted that government is planning to expand the share of the spot power market in total electricity supply in India to 25 percent by 2023-24. At present the size of

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SBI to acquire 9.95% stake in GIFT-IFSC-based Clearing Corp

State Bank of India will acquire up to 9.95% stake in India International Clearing Corporation (IFSC) Ltd subject to maximum investment of 34.03cr. The Clearing Corporation acts as a central counterparty providing clearing & settlement and risk management services to India International Exchange (IFSC) Ltd. The Clearing Corporation is a GIFT City (Gandhinagar, Gujarat) based

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