India-Pakistan in the same group for T20 WC
India and Pakistan have been placed in Group 2 along with World Test Championship winners New Zealand and Afghanistan for the T20 World Cup that is set to be played in the UAE and Oman from October 17 to November 14. Group 1 has defending champions West Indies, former winners England, Australia and South Africa.
Source - The Hindu
Paytm files for India’s biggest IPO
Digital payments firm Paytm is planning to raise USD 2.2 billion in an IPO in Mumbai, according to a draft prospectus filed on Friday. The IPO would value Paytm at USD 25 billion, making it India’s biggest tech IPO. Paytm plans to use the money to strengthen its payment services and for new business initiatives and acquisitions.
Source - Edition
Reliance Retail acquires controlling stake in Just Dial for USD 469 million
The Indian retail giant acquired 41% stake in publicly listed Just Dial for USD 469 million and they will make an open offer to acquire an additional 26% stake later. VSS Mani, founder and chief executive of Just Dial, will continue his leadership role at the firm.
Source - Tech Crunch
Whatsapp bans 20L Indian accounts
Whatsapp banned two million Indian accounts for abusing the platform’s services between May 15 and June 15 as mentioned in its first compliance report published under India’s new IT rules. The abuse detection operates at three stages of an account’s lifestyle: at registration; during messaging; and in response to negative feedback, that is in the form of user reports and blocks.
Source - Live Mint
Pulitzer Award-winning Indian photo-journalist, Danish Siddiqui killed in Afghanistan
Danish Siddiqui was killed in a crossfire between the Afghan special forces and the Taliban attackers in Kandahar while covering the same. He was largely a self-taught photographer who rose to heights in his profession while documenting wars, riots and human suffering.
Source - The Hindu
Magenta sets up India's largest public EV charging station in Navi Mumbai
EV solutions provider Magenta will set up the country's largest public EV charging station in Navi Mumbai as part of its plans to provide 4,000 charging facilities by March 2021. The charging station will be functional 24X7 with 21 AC/DC chargers for 2-wheelers, 3-wheelers, and 4-wheelers. Depending on the chargers, one can charge a vehicle in 45 mins.
Source - Live Mint
RBI restricts Mastercard from issuing new cards
RBI imposed restrictions on Mastercard from onboarding new domestic debit, credit or prepaid customers on its card network. The action has been against the payment system operator for violating RBI's norms on the storage of payment systems data. This order will not impact existing customers of Mastercard. All card-issuing banks and non-banks have been advised to conform to these directions.
Source - Live Mint
Eye on revival, Oyo secures USD 660 million debt
Oyo Hotels & Homes has closed a debt financing round of USD660 million from global institutional investors to service existing loans with the aim to recover from the disruption caused by the pandemic’s second wave. The funds will also be used to strengthen the balance sheet and for other business purposes, including investment in product technology.
Source - Economic Times
China's Ant group may sell about 5% of its Paytm shares via Offer For Sale
China's largest fintech conglomerate Ant Group is likely to sell at least 5% of its 30.33% stake in Paytm parent company, One97 Communications before the latter's IPO. Paytm wants to bring down Ant’s stake to below 25% to comply with norms by Securities and Exchange Board of India (SEBI), for listing as a “professionally managed company”
Source - Economic Times
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