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Saturday, March 2, 2024
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RBI directs non-banking finance company to stop disbursement of loans on eCOM and Insta EMI Card

With immediate effect, the non-banking financial company has been instructed by the RBI to cease approving and paying out loans under its two lending products, the Insta EMI Card and eCOM. This action is required because the Reserve Bank of India’s guidelines for digital lending have not been followed, specifically because key fact statements for these two lending products have not been provided to borrowers, and because key fact statements for other digital loans that the company has been approved for contain errors.

With artificial intelligence, the Paytm operator hopes to revolutionise travel through a partnership with global travel technology giant Amadeus. The business will incorporate Amadeus’s extensive travel platform over the course of the next three years, improving the traveller experience from search to booking and payment.

The leading supplier of renewable energy solutions in India, Suzlon Energy, announced that the MNRE (Ministry of New and Renewable Energy) has listed its S144, 3 MW, and 3.15 MW wind turbine series on the RLMM (Revised List of Models and Manufacturers). This significant accomplishment is necessary for the product to be successfully commercialised.

Vedanta Copper International VCI Company is the new wholly owned subsidiary of the company, which was created by Malco Energy, a wholly owned subsidiary. The Kingdom of Saudi Arabia will host a copper rod production facility established by the new company.

Funds for Goldman Sachs In an open market transaction, Goldman Sachs India Equity Portfolio purchased 23.2 lakh equity shares, or 1.18 percent of paid-up equity, for an average price of Rs 310.05 per share, for a total of Rs 71.95 crore.

On November 16, Rox Hi-Tech, an IT solutions company, will float its equity shares on the NSE Emerge. Each share is being issued for Rs. 83. The trade-for-trade component will allow trading of its equity shares.

At the Agritechnica 2023 in Hanover, Germany, the farm equipment company VST Tillers Tractors showcased three brand-new tractors, including its own electric tractor that was developed in-house. AGRITECHNICA features displays for the three products: the 929 EV, the 932 DI with Stage V engine, and the 929 with HST gearbox. It also displayed its cutting-edge 24.5 horsepower Stage V engine.

Bharat Sanchar Nigam (BSNL) has given work orders of Rs 34.35 crore to Bondada Engineering. For the cluster of Lakshadweep, Bondada will provide and erect GBT as well as infrastructure as a service (IaaSP) for the supply and installation of infrastructure items. After that, O&M (operation and maintenance) would be provided for five years.

The board of directors of Satin Creditcare Network, a microfinance organisation, will convene on November 20 to discuss raising money through the private sale of non-convertible debentures.

Beginning on November 16, the producer of crop protection products, Bayer Cropscience, will trade ex-dividend. The interim dividend for each share is Rs. 105. In addition to Bayer, other companies that will go ex-dividend on November 16 include Power Grid Corporation of India, Cigniti Technologies, Container Corporation of India, Saksoft, and Sundram Fasteners.

On November 15, the software provider RateGain Travel Technologies, which offers software as a service (SaaS) solutions for travel and hospitality, opened its qualified institution placement (QIP) issue. The floor price per share is set at Rs. 676.66.

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