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Paytm shares hit record low on fears of customer loss

BENGALURU, Feb 13 (Reuters) – Shares of Indian payments firm Paytm, opens new tab dropped 8.5% to a record low of 386.25 rupees on Tuesday after brokerage Macquarie downgraded the stock, citing the “serious risk of exodus of customers” following the Indian central bank’s action against its banking arm. Moving customers from Paytm Payments Bank to other banks by the Feb. 29 deadline set by the Reserve Bank of India is “an arduous task,” as it would require customers to submit Know Your Customer (KYC) details again, Macquarie added. Lending partners are re-evaluating their relationship with Paytm, which could potentially

Manish Sisodia gets interim bail in Delhi liquor policy case for niece’s wedding

Aam Aadmi Party leader Manish Sisodia

New Delhi [India], February 12 (ANI): The Rouse Avenue Court on Monday granted a two-day interim bail to Aam Aadmi Party (AAP) leader Manish Sisodia to attend his niece’s wedding at Lucknow that is scheduled to take place on February 14. Special judge M K Nagpal provided relief to Sisodia from February 13-15 to attend a marriage function and to perform Kanyadaan. The court granted interim bail in both CBI and ED cases. The court directed that he would be released on the evening of February 13 and directed to surrender on the evening of February 15. He is directed

Imran Khan supporters and other Pakistani parties block highways to protest election results

QUETTA, Pakistan, February 12, 2024 (AP) — Thousands of supporters of Pakistan’s imprisoned former Prime Minister Imran Khan and members of other political parties blocked key highways and started a daylong strike in the volatile southwest Monday to protest alleged rigging of last week’s elections. Candidates backed by Khan won more seats than the political parties who ousted him from power nearly two years ago, according to the final tally published Sunday. However, no party won a majority, so the parties will have to hold talks on forming a coalition government. The new parliament chooses the country’s next prime minister.

Retail inflation dips to 5.10% in Jan, a 3-month low

Wholesale inflation

NEW DELHI, Feb 12 (Reuters) – India’s annual retail inflation, opens new tab eased to a three-month low of 5.10% in January from 5.69% in the previous month, helped by a slower rise in prices of some food items, government data showed on Monday. A Reuters poll of 44 economists had forecast inflation at 5.09%. Food inflation, which accounts for nearly half of the overall consumer price basket, was 8.30% in January, compared with 9.53% in December. Last week, Reserve Bank of India left rates unchanged, signalling that interest rate cuts may be some time away as it focuses on

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