RBI starts a conversation about MDR fees as SBI Card concerns grow
On August 17, the Reserve Bank of India published a discussion paper asking for feedback on the various fees levied by the nation’s payment intermediaries.
In order to lessen “friction” in India’s payments infrastructure and further encourage digital payments, the discussion paper sought methods in which the supreme banking regulator might handle the numerous concerns.
A thorough examination of the policies and practises governing the imposition of fees across the nation’s many payment systems was deemed required in order to determine how they affect the effectiveness, expansion, and acceptance of payment systems.
SpiceJet’s share price increased by 3% as a result of its fundraising strategy, and the board will be discussing Q4FY22 results at its meeting.
Following SpiceJet’s announcement that it was seeking funding and ahead of the board meeting to discuss Q4FY22 earnings, the share price of the low-cost airline increased by 3% in the morning session on August 24.
In addition to seeking financing from outside parties, such as airlines, SpiceJet also intended to expand its fleet with seven more Boeing aircraft.
SpiceJet has experienced turbulence in recent months, particularly with several of its flights encountering mechanical difficulties. As a result, the airline was subject to proceedings from the aviation regulator Directorate General of Civil Aviation (DGCA).
Shares of Bharat Gears are up 17% as the board considers issuing bonus shares.
The morning of August 17 saw a 17 percent increase in the price of Bharat Gears’ stock as the company’s board was expected to discuss issuing bonus shares.
On August 19, 2022, the finance committee of the board of directors of Bharat Gears will meet to discuss the issuance of bonus shares to the company’s shareholders via capitalization of reserves.
The “Trading Window” for dealing in the company’s shares for promoters, directors, key managerial personnel, designated persons, and connected persons shall be closed from August 16 until the period ending 48 hours after the date of receipt of trading approval for the bonus shares from the exchanges, in accordance with the Code for Prevention of Insider Trading read with the SEBI (Prohibition of Insider Trading) Regulations, 2015.
According to Bernstein, Zomato is overtaking Swiggy in the Indian food delivery market.
The $5 billion Indian food delivery sector has historically been very competitive, but in recent years, Zomato and Swiggy have emerged as the two major firms battling for supremacy.
Zomato and Swiggy have had nearly equal market shares for the previous few years, each controlling close to 50%. But the equilibrium is now changing.
For a while now, there has been a stable duopoly in the Indian internet meal delivery sector. However, with Zomato increasing its market to about 55% in food delivery, that has begun to alter.
On the board’s approval of the bonus issuance, SecMark Consultancy shares reached a 52-week high.
Following the company’s board’s approval of the issuance of bonus shares, SecMark Consultancy’s share price increased 10% in the early session of August 24 to reach a 52-week high of Rs 250.45.
The issuing of bonus shares at a ratio of three fully paid-up equity shares for every two existing fully paid-up equity shares held by shareholders was taken into consideration and approved by the board of directors on August 23.
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