RBI Clampdown On Embattled Fintech Star Paytm Sparks Industry Concerns
NDTV
India stunned investors last month by abruptly suspending most activities of the banking affiliate of Paytm, a once high-flying fintech star that had attracted backing from Warren Buffett and SoftBank Group Corp.
For regulators seeking to crack down on potential fraud in the financial sector, Paytm may just be the beginning.
India stunned investors last month by abruptly suspending most activities of the banking affiliate of Paytm, a once high-flying fintech star that had attracted backing from Warren Buffett and SoftBank Group Corp. While the Paytm case was an extreme example of lapses in customer verification - it allegedly used a single identity document to open thousands of accounts - the crackdown signals growing impatience from authorities.
Hardly a day passes when a bank or fintech firm isn't fined for failing to properly vet its customers, ensnaring top lenders from State Bank of India to Citigroup Inc. Fed up with the persistent shortcomings, the Reserve Bank of India is likely to get even tougher before Governor Shaktikanta Das steps down this year.
The BJP, Vishnu Deo Sai said, has shown huge respect to Ambedkar, no matter who headed the government -- Atal Bihari Vajpayee or Narendra Modi.
Shyam Benegal, who burst on the scene with his first film "Ankur" in 1974, was a chronicler of India's times and politics.
A second-cousin brother of the late legend, actor-film-maker Guru Dutt, Shyam Benegal was 90 and breathed his last at a private hospital in Mumbai. He is survived by his wife Nira and their daughter Pia.
The union government has scrapped the 'no-detention policy' for classes 5 and 8 in schools governed by it allowing them to fail students who do not clear the year-end exams, according to officials.
"Adani Defence Systems & Technologies Ltd (ADSTL) has signed a share purchase agreement to acquire 85.8 per cent shareholding in Air Works India (Engineering) Private Ltd," a company statement said.
Several domestic carriers, between October and November, received hundreds of "hoax" messages or calls on their official communication channels including on social media.
Former Chief Minister Naveen Patnaik's BJD has made it clear that they are not against Electronic Voting Machines, questioning instead the integrity of the election process.
Lavi Pal alias Rahul Saini was arrested after an encounter in which he was injured on the intervening night of Sunday and Monday.
Seven Indians were injured in the deadly car-ramming attack in the eastern German city of Magdeburg.
The man, identified as Zakir, gesticulated to a biker to help him, even as the truck kept accelerating, showed the 36-second clip.
All the accused were arrested in November and December after reviewing data from the Indian Cyber Crime Coordination Center (I4C), said Priyanshu Dewan, ACP (cyber).