Reserve Bank of India, in exercise of its powers under section 45L(1)(b) of the Reserve Bank of India Act, 1934, has directed Bajaj Finance Ltd. (“the company”) to stop sanction and disbursal of loans under its two lending products 'eCOM' and 'Insta EMI Card', with immediate effect.
Bajaj Finance has over 4 crore EMI cards in force, according to its investor presentation
Recently, the Reserve Bank of India underwent a shuffle, appointing P Vasudevan, an executive director, as the new head of the fintech department.
Ajay Kumar Choudhary, the former executive director in charge of the fintech department, has retired.
Established in 2022, the RBI’s fintech department aims to stimulate innovation.
India and the United States have signed an MoU with the objective of connecting both the countries' dynamic startup ecosystems, particularly in critical and emerging technologies (CET).
The understanding named 'Enhancing Innovation Ecosystems through an Innovation Handshake' was signed by Commerce Minister Piyush Goyal from the Indian side, who is on a 4-day US visit.
Rohit Sharma became the first batsman in the World Cup to hit 50 or more sixes and breaking Chris Gayle's record of hitting 49 sixes.
Rohit Sharma has already 51 sixes in this tournament. Rohit Sharma has also got another record to his name for hitting the most number of sixes in a single edition of the World Cup.
By celebrating World Philosophy Day each year, on the third Thursday of November, UNESCO underlines the enduring value of philosophy for the development of human thought, for each culture, and for each individual.
This year it falls on 16 November.
The theme for World Philosophy Day 2023 is “Philosophical Reflection in a Multicultural World”
The 9th edition of the India International Science Festival (IISF) 2023 is scheduled to be held in Faridabad, Haryana, from January 17 to 20, at the Campus of Translational Health Science and Technology Institute (THSTI) and Regional Centre for Biotechnology (RCB) of the Department of Biotechnology.
National Press is observed on 16th November every year to commemorate a free and responsible press.
It was on this day that the Press Council of India started functioning as a moral watchdog to ensure that the press maintains high standards and is not fettered by any influence or threats.
Mastercard and Times Internet-backed Instamojo has ceased its core payment aggregator business after the Reserve Bank of India returned its license application.
In September 2021, Instamojo applied for the payment aggregator licence to the Reserve Bank of India. But it did not fulfill the net-worth requirement at that point of time
India's exports rose by 6.21 percent to 33.57 billion US Dollars in October this year, as against 31.6 billion dollars a year ago.
Imports also increased to 65.03 billion dollars in the month under consideration, as against 57.91 billion dollars recorded in October 2022.
Prime Minister Shri Narendra Modi released the 15th instalment of over Rs 18,000 crore under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme from Khunti, Jharkhand.
This significant release aims to provide financial support to farmers across the country
Federal Bank, a pioneer in banking innovation, launches UPI Lite, which will power small-value digital transactions in India.
NPCI introduced UPI Lite—a simplified version of the Unified Payments Interface (UPI) system to cater to the growing demand for faster and more efficient small-value payments.
Every year on November 16th, the world commemorates International Day for Tolerance.
This date was chosen as the date for International Day for Tolerance to commemorate the adoption of the Declaration of Principles on Tolerance by UNESCO's Member States.
World-renowned author Salman Rushdie has been awarded the first-ever 'Lifetime Disturbing the Peace Award' by the Vaclav Havel Center.
This was Rushdie's surprise public appearance since he was stabbed during a literary festival in New York in August 2022.