Business

The Reserve Bank of India (RBI) asked Paytm’s digital banking unit, Paytm Payments Bank, to halt new user onboarding on its platform. The RBI explained its decision, stating that it was prompted by “some serious supervisory concerns” in the bank. Furthermore, the bank has been ordered to hire an IT auditing firm to undertake a full system audit of its IT system. “Action against Paytm Payments Bank Ltd under section 35 A of the Banking Regulation Act, 1949. The RBI has today, in the exercise of its powers, inter alia,…

Flipkart has signed a multi-year agreement with Google Cloud, allowing it to use Google’s data centres and services to improve its overall customer service. Cloud computing allows businesses to develop goods and services without having to maintain their own servers and data centres. Flipkart will be able to handle more traffic during peak shopping seasons as a result of this partnership, and hence reach more customers. Flipkart will also be able to accelerate the development of new products in order to expand into tier-2 and tier-3 cities. Flipkart’s data analytics will…

Google and a trade group representing almost 300 French newspapers have achieved a new agreement on content publishing rights, the two parties announced on Thursday. According to a joint statement, the agreement indicated that negotiations on how much to pay publications for utilising their material in Google search results, which began in September, were successful. In January, Google and the French publishers’ lobby announced that they had reached an agreement on a copyright framework that would allow the US internet giant to pay news publishers for online content, paving the…