The Indian rupee strengthened by 7 paise to 83.82 against the US dollar in early trade on Friday. The local currency opened at 83.83 on the interbank foreign exchange market but gained ground to touch 83.82, marking a notable rise from its previous close.
Market Dynamics and Influences
On Thursday, the rupee appreciated by 8 paise to close at 83.89 against the American currency. The rise in the…
The National Payments Corporation of India (NPCI) has launched a groundbreaking feature allowing customers to deposit cash at ATMs using the Unified Payments Interface (UPI), marking a significant advancement in banking convenience. The UPI Interoperable Cash Deposit (UPI-ICD) facility was unveiled by Reserve Bank of India’s Deputy Governor T. Rabi Sankar at the Global Fintech Fest (GFF) 2024 on…
Trent, the retail arm of the Tata Group helmed by Noel Tata, is preparing to unveil its value fashion brand Zudio in Dubai next month. This expansion marks Zudio’s first venture into the international market and highlights Trent’s strategic move to capitalize on the significant Indian diaspora residing in the UAE.
The inaugural Zudio store will be located in the bustling Silicon Oasis Mall, a…
In a dramatic shift on the Hurun India Rich List for 2024, Gautam Adani has surpassed Mukesh Ambani to reclaim the title of the wealthiest Indian. The list, which highlights the richest individuals in India, reveals a significant change in the rankings and showcases a surge in overall wealth.
According to the latest Hurun India Rich List, Adani Group Chairman Gautam Adani now tops the list with a…
Ola Electric CEO Bhavish Aggarwal has unveiled a significant shift in the company’s sales strategy, revealing that Ola Electric products will now be available through any retail shop across India. This announcement follows the company’s recent integration into the Open Network for Digital Commerce (ONDC) network, which Aggarwal has hailed as the “future of commerce.”
In a move aimed at…
British insurer Aviva is under investigation by Indian tax authorities for allegedly breaching local commission regulations through a system of fake invoices and covert cash payments. The Directorate General of GST Intelligence has accused Aviva of orchestrating a scheme to bypass commission caps by channeling about $26 million to fictitious vendors between 2017 and 2023.
According to a notice…
Pilgrim, a burgeoning direct-to-consumer (D2C) beauty and personal care brand, has successfully raised approximately $9 million in a Series B extension funding round. The round was led by prominent investors Fireside Ventures and Vertex Ventures, with significant contributions also made by NSFO Ventures, Mirabilis Investment, and NABS Vriddhi.
The latest funding round saw the issuance of 854…
Zepto, the rapidly growing quick commerce company, has successfully raised $340 million in its latest follow-on financing round, propelling its valuation to a remarkable $5 billion. This funding round marks Zepto’s third major capital infusion within the past year, bringing its total capital raised in the last 12 months to over $1 billion.
The company initially aimed to secure $400 million but…
The 2024 Hurun India Rich List has set a new benchmark, featuring an unprecedented 1,539 individuals with net worths exceeding Rs 1,000 crore, highlighting a significant surge in the wealth of India’s elite. In a dramatic shift, Gautam Adani and his family have ascended to the top position on the list, surpassing Mukesh Ambani for the first time.
Adani Tops the List with Remarkable Growth
Gautam…
At the Global Fintech Festival 2024 in Mumbai on August 28, RBI Governor Shaktikanta Das introduced two groundbreaking digital payment initiatives from the National Payments Corporation of India (NPCI): Bharat BillPay (BBPS) for Business and UPI Circle. These initiatives aim to enhance the inclusivity, security, and efficiency of India’s digital payments ecosystem.
Bharat BillPay for…
