business news

In response to regulatory directives to wind down its operations by March 15, Paytm Payments Bank, a key player in India's digital payment sector, is reportedly considering partnerships with major banks for Unified Payments Interface (UPI) transactions.

In a significant move within India's fintech landscape, Vijay Shekhar Sharma, the founder of Paytm, has relinquished his role as the part-time non-executive Chairman of Paytm Payments Bank Limited (PPBL). This development comes as PPBL faces mounting pressure from regulatory authorities and a mandate to wind down its operations by March 15.

An Amazon customer recently took to social media to express frustration after allegedly receiving a counterfeit iPhone 15 from the e-commerce giant. The individual, using the handle @GabbbarSingh, shared a photo of the purported 'iPhone 15', lamenting the absence of a charging cable and questioning the authenticity of the product. The post quickly gained traction, prompting a response from Amazon.

Byju Raveendran, CEO of the prominent edtech firm Byju's, has reassured employees that he remains the chief executive officer of the company, dispelling rumors of his ousting following a shareholder vote. In a letter addressed to staff members, Raveendran refuted media reports suggesting his removal from the CEO position as "greatly exaggerated and highly inaccurate."

In a strategic realignment of its payment services, Google has announced the discontinuation of Google Pay in the United States, while ensuring uninterrupted service for users in India and Singapore. The decision, communicated through an official blog post on Thursday, reflects Google's commitment to enhancing its payment ecosystem and optimizing user experience.

In a significant move aimed at promoting digital transactions and enhancing convenience for commuters, the Reserve Bank of India (RBI) has announced that prepaid payment instruments (PPIs) managed by both banks and non-banking institutions can now be utilized for making payments across various public transport systems.

In a bid to enhance passenger experience and cater to the evolving demands of travelers, the Indian Railway Catering and Tourism Corporation (IRCTC) has forged a strategic partnership with Swiggy, a leading food ordering platform. This collaboration aims to streamline the delivery of pre-ordered meals directly to train passengers, adding a new dimension to onboard dining services.

A Texas man has found himself at the center of a scandal involving illegal trading on his wife's conversations with her colleagues, resulting in nearly $2 million in profits. The US Securities and Exchange Commission (SEC) has filed a case shedding light on the alarming trend of eavesdropping among couples during the work-from-home (WFH) era.

Nikhil Kamath, co-founder of Zerodha, has revealed his preference for renting homes over purchasing them, citing what he perceives as exorbitant real estate valuations. In a podcast conversation in October, Kamath expressed his reluctance to invest in real estate at current prices, describing them as "ridiculous and retarded" given prevailing interest rates.

In a significant projection, investment banking firm Jefferies has forecasted that India is on track to become the world's third-largest economy by 2027, overtaking economic powerhouses like Japan and Germany. According to Jefferies, India's GDP is poised to reach $5 trillion within the next four years, and the country's economic trajectory suggests it will nearly double to nearly $10 trillion by 2030.