The Reserve Bank of India has released a detailed report on the state of payments in India. Here are the highlights and what they mean for the future of payments in India.
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[content][quote]Big Story [/quote][title]India s GDP at 0.4% [/title][circularimage][/circularimage][body]
India s gross domestic product (GDP) has finally entered the positive. For the third quarter, it is at 0.4 percent, indicating a marginal expansion after shrinking in the previous quarters. Here are eight key takeaways from the data that you need to know about.
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In line with the Prime Minister s clarion call for an Aatmanirbhar Bharat , India s first virtual toy fair is set to begin, with Hamleys as the title sponsor for the event.
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[content][quote]Market Buzz [/quote][title]Sixth-biggest single-day fall for Sensex[/title][body]
Updated Feb 26, 2021 | 16:07 IST
The NUE framework was unveiled in August last year, with the central bank also opening the window for applications. Entities receiving approval can set up a payments company RBI extends deadline for NUE applications to March 31st
New Delhi: The Reserve Bank of India on Friday extended the deadline for New Umbrella Entity (NUE) applications to March 31st. The central bank had released the framework for authorisation of pan-India Umbrella Entity for retail payments on August 18, 2020, and invited applications from desirous entities.
Given the process involved for complying with the framework prescriptions, a timeline of six months was provided therefor, i.e., up to February 26, 2021. The deadline has now been extended to March-end as various stakeholders including Indian Banks’ Association asked for an extension.
Stocks to Watch: Bharti Airtel, Indiabulls HFC, Ashok Leyland, DHFL, RailTel
Top 10 stocks that could be in news today. (Photo: iStock)Premium
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Bharti Airtel: The telecom operator will conduct an extraordinary general meeting 19 March to seek the approval of board members on the proposal of issuance of equity shares of the company on preferential basis through special resolution. The company had raised $1.25 billion overseas, it said on Thursday.
Indiabulls Housing Finance Ltd: The company has issued foreign currency convertible bonds, it s first such issuance, worth ₹ 1,091 crore, it said on Thursday. The secured convertible bonds are due 2026. The initial conversion price is ₹242 per fully paid-up equity share of the company.
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