Author: QH team

Lok Sabha Speaker Om Birla, leading an Indian Parliamentary Delegation at the 149th Assembly of the Inter-Parliamentary Union (IPU) in Geneva, emphasised the importance of multilateralism in his address on subject of “Harnessing science, technology and innovation for a more peaceful and sustainable future”.He advocated for equitable sharing and responsible use of technological advancements and highlighted India’s significant progress in utilising technology for public service delivery, governance, transparency, and accountability.He asserted, “India has always been a strong proponent of multilateralism and advocating that fruits of technological advancements, scientific research and innovation must be shared equitably and leveraged responsibility”.Describing India as…

To ensure easy and adequate credit availability to the MSME sector, the State Bank of India (SBI) is planning to enhance the threshold under the instant loan scheme from the existing Rs 5 crore. ‘MSME Sahaj – End to End Digital Invoice Financing’, provides solutions ranging from applying for the loan, documentation and disbursement of the sanctioned loan within 15 minutes, without any manual intervention.”We have, last year, introduced a business rule engine based, data based assessment of the credit limits up to Rs 5 core. Anybody walking into our MSME branch has to give only their PAN and approval for sourcing GST data, we…

Nearly a year after the Reserve Bank of India (RBI) raised risk weights on unsecured personal loans, the country’s leading fintech companies are shifting focus, expanding their portfolios to include collateral-backed credit in collaboration with lending partners. The strategy allows these firms to diversify revenue streams and offset risks from rising loan delinquencies.Leading the charge, Bengaluru-based PhonePe has launched a broad range of secured credit products, including mutual fund loans, gold loans, vehicle loans, loans against property, and education loans, significantly enhancing its credit distribution portfolio since May.BharatPe introduced two-wheeler loans and loans against mutual funds in August, working with…

China urged the European Union on Saturday not to conduct separate negotiations over the prices for China-made electric vehicles, warning that would “shake the foundations” of bilateral tariff negotiations.The comments, published on the website of China’s Ministry of Commerce, come days after Brussels rejected a Chinese proposal for EVs made in China to be sold at a minimum price of 30,000 euros ($32,000), a move Beijing hoped would avert EU tariffs being imposed next month.https://economictimes.indiatimes.com//news/international/business/china-urges-eu-not-to-affect-ev-tariff-talks-with-separate-price-negotiations/articleshow/114170014.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

On September 20, The Delhi High Court in a suit filed by Mankind Pharma Limited granted injunctive relief to Mankind by restraining a pharmaceutical manufacturer Sanshiv Health Tech from using the similar trade dress / trademark as that of Mankind Pharma.The court observed the defendants to be guilty of blatantly adopting and using the impugned trade dress and design.The plaintiff were able to make out a prima facie case with the balance of convenience for grant of an ad interim ex-parte injunction in their favour and against the defendants. “In case the defendants are not restrained by way of an…

The Reserve Bank of India (RBI) has issued new guidelines aimed at improving the accessibility of digital payment systems for persons with disabilities (PwDs).With digital payment systems becoming increasingly popular among all segments of the population, including differently-abled individuals, the RBI’s latest guidelines urge payment system participants (PSPs)–comprising banks and authorized non-bank payment providers–to review and modify their payment systems and devices to ensure ease of access for PwDs.This includes payment infrastructure such as Point-of-Sale (POS) machines, which should be user-friendly for persons with various disabilities.The guidelines emphasize adherence to the Accessibility Standards set forth by the Ministry of Finance.…

To ensure easy and adequate credit availability to the MSME sector, the State Bank of India (SBI) is planning to enhance the threshold under the instant loan scheme from the existing Rs 5 crore. ‘MSME Sahaj – End to End Digital Invoice Financing’, provides solutions ranging from applying for the loan, documentation and disbursement of the sanctioned loan within 15 minutes, without any manual intervention.”We have, last year, introduced a business rule engine based, data based assessment of the credit limits up to Rs 5 core. Anybody walking into our MSME branch has to give only their PAN and approval for sourcing GST data, we…

Bank stocks rallied on Wednesday, rising up to 2.9 per cent, on the National Stock Exchange (NSE). The rise in bank stocks today came after the Reserve Bank of India (RBI) changed the policy stance to ‘Neutral’ from ‘Withdrawal of Accomodation’. The RBI Monetary Policy Committee (MPC) also kept its key repo rate unchanged at 6.5 per cent for a tenth straight policy.”After evaluating the macroeconomic conditions and future outlook, the Monetary Policy Committee (MPC) decided, with 5 out of 6 members in agreement, to maintain the policy rate at 6.5 per cent,” said RBI Governor Shaktikanta Das in his policy…

The adjudicating authority of the Enforcement Directorate recently imposed a hefty fine of Rs 2,146 crore on an NBFC for allegedly running loan app with links to some Chinese companies. PC Financial Services has been fined over violations of FEMA regulations.The NBFC has alleged connection with some Norwegian and Chinese entities, as per the probe agency. This is the first time when an Indian non-banking financial company has been slapped with a fine for running a loan app.According to the FEMA probe, Chinese owners had ‘overall control’ of the NBFC. The money-lending business in India was carried via mobile app called…

Bank stocks rallied on Wednesday, rising up to 2.9 per cent, on the National Stock Exchange (NSE). The rise in bank stocks today came after the Reserve Bank of India (RBI) changed the policy stance to ‘Neutral’ from ‘Withdrawal of Accomodation’. The RBI Monetary Policy Committee (MPC) also kept its key repo rate unchanged at 6.5 per cent for a tenth straight policy.”After evaluating the macroeconomic conditions and future outlook, the Monetary Policy Committee (MPC) decided, with 5 out of 6 members in agreement, to maintain the policy rate at 6.5 per cent,” said RBI Governor Shaktikanta Das in his policy…