RBI grants PPI authorisation to Eroute Technologies

The Reserve Bank of India (RBI) has granted authorisation to Eroute Technologies to operate as a prepaid payment instruments (PPI) company. The RBI issued authorisation on May 10, 2021, to Eroute Technologies Pvt Ltd with perpetual validity to commence issuance and operations of semi-closed pre-paid instruments in the country, the company said in a statement on Wednesday. The Noida-based firm said the RBI authorisation will enable it to launch its payment solutions at scale independently unlike neo banks and other bank-led fintech companies. PPIs are instruments that facilitate purchase of…

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Amazon wins $303 million tax case in European Union

Brussels: Europe’s second-top court on Thursday annulled an EU order to Amazon.com Inc. to pay about €250 million ($303.28 million) in back taxes to Luxembourg, part of an EU crackdown against unfair tax deals between multinationals and European Union countries. The Luxembourg-based General Court said Amazon had not enjoyed a selective advantage in its tax deal with Luxembourg. “The Commission did not prove to the requisite legal standard that there was an undue reduction of the tax burden of a European subsidiary of the Amazon group,” judge said. The European…

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Princeton Alum’s Startup Raises $51 Million to Help People Plan for An Easy Retirement

Are you aware that you could boost your retirement outlook by using this new startup’s no-cost service? SmartAsset’s free, five-minute tool makes it easy to find qualified financial advisors in your area or who serve your area. Our exclusive tool matches you with up to three fiduciary financial advisors who have passed a rigorous vetting process. Unlike broker-dealers, stockbrokers and insurance agents, fiduciary advisors are legally bound to work in your best financial interest. With over 110 million Americans over age 50, it’s no wonder this Princeton alum’s startup has…

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