Paytm To Close Wallets Of These Users From July 20

Paytm will be notifying affected users via communication channels and providing a period before closure. RBI issued a directive restricting PBBL wallet from accepting new deposits or allowing credit transactions after March 15, 2024. To streamline inactive accounts, Paytm Payments Bank Limited (PPBL) has announced that it will close wallets with zero balances that haven’t…

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India’s Trade Deficit Widens to 7-Month High to $23.78 Billion in May 2024; Exports Grow 9.1%

During April-May 2024, India’s merchandise exports during April-May 2024 were $73.12 Billion as compared to $69.57 billion during April-May 2023. India’s merchandise imports were at $61.91 billion in May 2024, which is 7.7 per cent higher as against $57.48 billion a month ago India’s merchandise exports in May 2024 grew 9.09 per cent year-on-year to…

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Mutual Funds Industry Adds 81 Lakh New Investor Accounts in April-May FY25

The mutual fund industry has added over 81 lakh investors’ accounts in the first two months of the current fiscal (FY25), mainly due to consistent marketing efforts, celebrity endorsements and dedicated work of the distribution network. Additionally, changing perceptions about fixed deposits, which no longer offer competitive returns compared to mutual funds, and the rise…

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Finance Ministry To Meet PSB CEOs, To Review Progress Of Financial Inclusion Schemes

The status of inoperative accounts under PMJDY and issuance of RuPay cards will also be reviewed. (Representative image) Finance ministry has called a meeting of heads of Public Sector Banks to review progress of financial inclusion schemes, including PM Vishwakarma, Jan Suraksha The finance ministry has reportedly called a meeting of heads of Public Sector…

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