Big tech M&As may soon need CCI approval
The Competition Commission of India (CCI) is working on new rules that would require its sign-off on mergers and acquisitions between digital businesses that cross a pre-determined threshold, according to a Business Standard report. Currently, only asset size and turnover figures
RBI refuses ‘on-tap’ license to six banks
The applications of six universal and micro-finance entities that were looking to set up banks was dismissed as “not suitable” by the Reserve Bank of India (RBI), as per ET. Among them was Flipkart founder Sachin Bansal’s Chaitanya India Fin Credit Private Limited which had applied for a universal bank license.
Paytm’s key investors exit after ONDC decision
A day after Paytm revealed that it’s e-commerce platform would be integrating with the Indian government’s Open Network for Digital Commerce (ONDC), Entrackr reported that the company’s key investors Alibaba and Ant Financial are cashing in their shares for an estimated total of $5.3 million.
Celebs featuring in crypto ads put on alert
The ASCI, a self-regulatory body for the ad industry, has asked celebrities to do their due diligence before becoming involved in cryptocurrency-related advertising. It made these remarks after India’s securities and markets regulator reportedly recommended that celebrities altogether be barred from endorsing virtual digital assets.
Social media monitoring part of response to US shooting
New York Governor Kathy Hochul’s recently-unveiled plan to tackle domestic terrorism and gun violence includes measures related to social media monitoring, The Guardian revealed in its report. These steps are being taken a few days after a deadly shooting at a grocery store in Buffalo, the second-largest city in the state. Social media platforms Twitch and Discord are in the hotseat as they were reportedly used by the shooter to livestream the attack.
Ola Foods cancels cloud kitchen expansion plans
The cloud-kitchen business under Ola Foods has dropped its plan to set up 500 facilities across the country, ET reported citing sources. Most of its kitchen equipment have been put up for sale at discounted rates, the report added.
Slice integrates UPI into its app
The finctech startup which offers credit lines to users in the form of pay-later cards has enabled UPI payment services on its platform, Moneycontrol reported. Existing and waitlisted users now have the option to make payments through a UPI ID that’s linked to their bank account.
Investments tab rolled out for BharatPe merchants
Fintech firm BharatPe has launched a platform to facilitate investments in fixed deposits from more than 20 lakh of its merchant partners, as per ET. The new offering is part of BharatPe’s strategy in regards to wealth management.
- Coinbase Pins Blame For Disabling UPI Option On RBI Pressure
- RBI Releases Guidelines On Establishment Of Digital Banking Units
- The Missing Piece In CCI’s Cases Against Big-Tech Firms
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