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India’s startup rockstar, Paytm CEO Vijay Shekhar Sharma, battles regulatory crisis

BENGALURU/NEW DELHI, Feb 3 (Reuters) – A rags-to-riches tale, Vijay Shekhar Sharma is no stranger to controversy. Now, India’s startup king faces arguably his biggest crisis in a race to save his revolutionary digital payments firm that had once counted Warren Buffett as a backer. Sharma has put up a brave face even as nervous investors plundered $2 billion off Paytm’s, opens new tab valuation after India’s central bank ordered his banking arm to stop most of it operations from March 1 for “persistent non-compliances” and “supervisory concerns”. The ruling threatens significant business disruptions as the bank is the backbone

India aims to collect Rs 140 billion from online gambling tax in FY25

NEW DELHI, Feb 3 (Reuters) – Indian expects to collect up to 140 billion rupees ($1.7 billion) in goods and services tax (GST) next financial year by taxing online gambling companies, Revenue Secretary Sanjay Malhotra told Reuters on Saturday. The government in October imposed a 28% tax on funds that online gaming companies collect from their customers for every bet, shocking a nascent $1.5 billion industry that is backed by global investors. The government had defended the move, citing concerns about addiction. In the fiscal year that ends on March 31, the government will collect about 75 billion rupees from

Punjab Governor Banwarilal Purohit resigns from the post citing personal reasons

Chandigarh (Punjab) [India], February 3 (ANI): Punjab Governor Banwarilal Purohit on Saturday resigned from the post citing personal reasons. In his letter to the President of India, Purohit said “Due to my reasons and certain other commitments, I tender my resignation from the post of Governor of Punjab and Administrator, Union Territory, Chandigarh. Please accept the same on oblige.” Notably, for the past months, the governor and state CM Bhagwant Mann were engaged in a war of words over different issues. In August, last year, Banwarilal Purohit sent a strongly worded letter to the CM, warning him that he could

BJP stalwart L K Advani to be awarded Bharat Ratna, PM Modi says ‘very emotional moment for me’

New Delhi, Feb 3 (PTI) Prime Minister Narendra Modi announced on Saturday that BJP stalwart and former deputy prime minister Lal Krishna Advani will be conferred the Bharat Ratna, the country’s highest civilian award, and described it as a “very emotional moment for me”. “One of the most respected statesmen of our times, his contribution to the development of India is monumental. His is a life that started from working at the grassroots to serving the nation as our Deputy Prime Minister,” Modi said on X. His decades-long service in public life has been marked by an unwavering commitment to

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