RBI grants payment aggregator licence to Mswipe Technologies :

By Suryafinacialinfotech -

 RBI grants payment aggregator licence to Mswipe Technologies : The Reserve Bank of India (RBI) has granted the payment aggregator (PA) licence to digital payments platform Mswipe Technologies, which joins the likes of Zomato, Decentro, Zoho, Juspay  and Razorpayto get the regulator's nod to offer the service. The licence comes almost two years after the company received an in-principle nod in the middle of 2022. "The payment aggregator licence solidifies the company's objective to enhance its suite of offerings while delivering secure, efficient, and user-friendly payment technology to banking partners, enterprises, and merchants across categories," the company said in a statement on February 19. - moneycontrol.


🍒           Religare Finvest case: Rs 400 crore diverted to Hong Kong via ICDs :  A money laundering investigation by the Directorate of Enforcement (ED) into Religare Finvest (RFL) has revealed that ₹400 crore was allegedly diverted to Hong Kong, said people in the know. The case pertains to the alleged embezzlement of ₹2,036.69 crore from RFL in 2014-18. The agency has charged former Fortis promoters Malvinder and Shivinder Singh and co-accused under provisions of the Prevention of Money Laundering Act (PMLA) and accused them of fund diversion. The brothers have denied any wrongdoing. Four shell companies were allegedly used by the Singh brothers and other co-accused to send the amount to Hong Kong. The PMLA probe has revealed that this was largely in the form of inter-corporate deposits (ICDs). - economic times.


🍒           Rupee moves up 4 paise to 83.01 against dollar in early trade : The rupee rose 4 paise to 83.01 against the US dollar in early trade on Friday, tracking positive cues from the domestic equity markets. Forex traders said a strong American currency and elevated crude oil prices, however, weighed on the local unit. At the interbank foreign exchange, the domestic currency opened at 83.03 and inched up to 83.01 against the greenback in initial deals, registering a gain of 4 paise from its previous close.- Business Line.


🍒           Nifty settles at 22,122 after hitting fresh highs, Sensex gains 281 pts; Grasim rises 3% : Sensex, Nifty updates on 24th July 2023: Stock markets closed higher for the fifth consecutive day on Monday with the benchmark Sensex rising 281 points and Nifty scaling its fresh lifetime high driven by gains in financial and FMCG shares. The BSE Sensex rose by 281.52 points or 0.39 per cent to close at 72,708.16. As many as 17 Sensex shares advanced while 13 closed in the red. After a firm start, the index hit a high of 72,881.93 in day trade. The broader Nifty closed at its all-time high of 22,122.25 points, up by 81.55 points or 0.37 per cent from the last close. - Business Line.


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SBI, Bank of Baroda gets encouraging response for digital rupee

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Banking / Financial News at a Glance  🍒       SBI, Bank of Baroda gets encouraging response for digital rupee : Public sector lenders State Bank of India (SBI) and Bank of Baroda has received encouraging response from customers for the Central Bank Digital Currency (CBDC) or digital rupee. Country’s largest lender has recorded over 900,000 transactions from 400,000 lakh users since December 1 last year. The number of CBDC users for Bank of Baroda has reached 250,000. “The pilot of CBDC has been successful. We have 900,000 plus transactions from December 1 last year and have onboard over 40,000 merchants,” Balaji Rajagopalan, Chief Technology Officer, SBI said on the sidelines of banking conference FIBAC 2023 organised by FICCI. - financial express. 🍒       UPI can be moved to cloud network, says SBI MD : The Unified Payments Interface (UPI) application can be moved to public cloud network considering volume of UPI payments that are processed by th...
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Bank of Baroda board to finalize tranche of debt instruments for affordable housing

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Four PSBs may get approval to raise funds in H1 of FY25

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HDFC Bank merger catalyzed loan growth, d the loan growth of the combined entity,

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SBI issues Electoral Bonds worth Rs 16,518 cr in 30 tranches

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