India Business News: The Reserve Bank of India (RBI) has directed card networks like Visa and Mastercard to suspend card-based commercial payments made by corporations and
This comes on the back of a recent instruction from the RBI asking these companies to halt usage of these payment instruments for business payments made to vendors, suppliers and other such entities. Following this directive, card networks have informed payment companies to stop these services to their clients.
The firm planned to raise a fresh issue of Rs 1,125 crore and an offer of sale of up to Rs 375 crore from its existing shareholders and promoters. and through pre-IPO funding it planning to raise not more than $30 million as per regulations.