The Reserve Bank of India (RBI) has turned down a request from mobile wallet entities for less stringent Know Your Customer (KYC) rules.

A few weeks earlier, major companies in this segment and in financial technology, along with senior members of the sectoral body, Payments Council of India (PCI), met RBI officials. They requested that if a general relaxation was not possible, it could be considered for at least transactions less than Rs 10,000 a month. Source say RBI would have none of it.

Digital payment major Paytm announced that it has registered 68 million Unified Payments Interface (UPI) transactions in February, 2018, thus emerging as the largest contributor to the overall volume of UPI transactions.

In December last year Paytm had contributed 33 million to the overall transaction volume for UPI, which rose to 51 million in January 2018 and 68 million in February.

Facebook has ended its month-long experiment with the alternative News Feed feature, Explore, that was started in October 2017 in six countries.

We constantly try out new features, design changes and ranking updates to understand how we can make Facebook better for everyone.

New Delhi: The National Stock Exchange (NSE) plans to ease listing norms for so-called new-age companies, in an effort to revive its dedicated start-up listing platform, which has struggled to generate interest.

NSE is in discussions with markets regulator Securities and Exchange Board of India (Sebi) to tweak some of the conditions for listing through the platform to make it more attractive to start-ups and investors, Vikram Limaye, NSE managing director and chief executive, said in an interview.

KABUL: A police official said a suicide bomber had struck in the Afghan capital, Kabul, after a loud explosion was heard in an area close to foreign embassies on Friday.

Police sirens could be heard in the area but there was no immediate word on any casualties from the blast.

Uttar Pradesh Power Corporation (UPPCL) has cancelled Anil Dhirubhai Ambani’s Reliance Power’s Chitrangi power project in Singhrauli and seized its bank guarantee of Rs 74 crore, as it allegedly did not fulfil its commitment of setting up the project on time. UPPCL had issued a letter of intent (LoI) to Reliance Power for the supply of 2,456 MW of power from the 3960 mw Chitrangi power project near Sasan in Madhya Pradesh, after it had emerged as the lowest bidders in a competitive bid for purchase of power by the UP government in 2011.

A year after Prime Minister Narendra Modi laid the foundation stone for the proposed 210-metre tall statue of Maratha warrior king Shivaji Bhonsle off the Mumbai coast, the construction work for the project has been awarded to Mumbai-based Larsen & Toubro (L&T). According to sources, L&T, which had bid for the project, revised its bid downward from Rs 3,826 crore to Rs 2,500 crore.

India’s third largest IT services exporter Wipro has announced an investment of $8.8 million to pick up 33.3% stake in Denim Group, a US based application security firm. Through this investment, Wipro now plans to jointly leverage along with Denim Group to address the cybersecurity market.

Former telecom regulator Rahul Khullar has waded into the raging controversy over new rules on predatory pricing, saying they are one-sided and not fair.

The watchdog should have also stayed away from the sector’s competitive aspects, which are mostly in the domain of the Competition Commission of India, said Khullar, who was chairman of the Telecom Regulatory Authority of India from 2012 to 2015.

Members of the Public Accounts Committee (PAC) today zeroed in on former Finance Minister P Chidambaram under whose tenure the government's 80:20 gold import scheme was launched, alleging it was misused by jewellers including fugitive Mehul Choksi for money laundering, sources said.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.