Sebi on Thursday disposed of adjudication proceedings against state-owned LIC with respect to alleged violations of mutual fund norms.

The case pertained to the insurer's shareholding in IDBI Mutual Fund.

In a 12-page order, Sebi said the alleged violation on part of LIC is to be viewed in the context of the efforts taken by it to complete the merger of IDBI Mutual Fund with LIC Mutual Fund, and disposed of the adjudication proceedings.

The Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday (September 6) unveiled a suite of payments products developed by the National Payments Corporation of India (NPCI) during the Global Fintech Fest 2023.

These innovative solutions, including Credit Line on UPI, UPI LITE X and Tap & Pay, Hello! UPI — Conversational Payments on UPI, and BillPay Connect — Conversational Bill Payments, are designed to foster an inclusive, resilient, and sustainable digital payments ecosystem.

The Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday (September 6) unveiled a suite of payments products developed by the National Payments Corporation of India (NPCI) during the Global Fintech Fest 2023.

These innovative solutions, including Credit Line on UPI, UPI LITE X and Tap & Pay, Hello! UPI — Conversational Payments on UPI, and BillPay Connect — Conversational Bill Payments, are designed to foster an inclusive, resilient, and sustainable digital payments ecosystem.

Indian low-cost carrier SpiceJet on Monday said it allotted over 48 million shares to nine aircraft lessors to clear outstanding dues worth 2.31 billion rupees (nearly $28 million), as the troubled airline looks to return to full operations.

The carrier’s shareholders had on Thursday passed a number of resolutions, including a 25 billion rupees fundraise and a preferential issue of shares to lessors to clear outstanding dues.

SpiceJet has been scrambling to raise funds and restore operations for about a fourth of its fleet that has been grounded amid fierce competition in the sector.

Jet Airways Founder Naresh Goyal Sent To ED Custody Till September 11

In a money laundering case, the PMLA court extended the custody of Jet Airways founder and chairman Naresh Goyal until September 11, granting the Enforcement Directorate (ED) a partial concession from their request for a 14-day custody period.

The Enforcement Directorate (ED) presented Jet Airways founder Naresh Goyal before a PMLA court in Mumbai on Saturday. In court, the ED referred to specific email communications to support its accusations against Goyal. These allegations include diverting Rs 9.46 crores from Canara Bank's loan amount for personal loan payments. Additionally, the investigative agency claimed that funds intended for salary and payments for a production house owned by Goyal's daughter, Namrata Goyal, were redirected from Jet Airways' accounts.