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Paytm and PPBL stop inter-company agreements ahead of RBI deadline

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Paytm, PPBL discontinue inter-company agreements before RBI deadline

New Delhi, March 1 (IANS) One 97 Communications Ltd, the parent company of Paytm, and Paytm Payments Bank Limited (PPBL) have decided to discontinue various inter-company agreements as the Reserve Bank of India (RBI) ban on the bank’s operations approaches.

According to a BSE filing, Paytm and PPBL have mutually agreed to discontinue various inter-company agreements to reduce dependencies. The shareholders of PPBL have also simplified the Shareholders Agreement (SHA) to support PPBL’s governance, independent of its shareholders. The termination of agreements and amendment of SHA were approved by OCL’s Board on March 1, 2024.

Paytm had earlier announced plans to sign up new partnerships with other banks and take measures to ensure uninterrupted services for its customers and merchants. Services like Paytm app, Paytm QR, Paytm soundbox, and Paytm Card machines will continue to function seamlessly beyond the RBI’s March 15 deadline.

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Late last month, Paytm’s Founder and CEO Vijay Shekhar Sharma stepped down as Non-Executive Chairman and Board Member of Paytm Payments Bank. PPBL’s future business will be overseen by a reconstituted Board by OCL following the RBI’s ban on the bank’s operations from March 15.

In its commitment to uphold market-leading innovation and technology-enabled solutions for its customers, Paytm reassures its customers of uninterrupted services despite the impending RBI ban on PPBL’s operations. The company aims to continue providing seamless services through partnerships with other banks and ongoing technological advancements.

As Paytm and PPBL navigate through the challenges posed by the RBI ban, their focus remains on ensuring minimal disruptions for their customers and merchants. With the termination of various inter-company agreements and the simplification of the Shareholders Agreement, the companies aim to streamline their operations and governance for a more resilient and independent functioning.

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IANS, established in 1986, is India's largest independent news service, offering 24x7 news from India and South Asia, and a preferred source for diverse content across six business verticals.

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GPS Renewables secures $50 mn in funding from private and public sector banks

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Biofuels firm GPS Renewables raises $50 mn from private, public sector banks

In a recent development, GPS Renewables, a full-stack biofuels company, has secured $50 million in debt financing from various private and public sector banks and NBFCs. Participating institutions include Punjab National Bank, HDFC, Yes Bank, and others.

Chief Finance Controller, Tilak Minocha stated, “To further accelerate our efforts, we not only need financial backing but also strategic industry collaborations. The funding will allow us to promote India’s transition to sustainable green energy.”

This financing round comes after GPS Renewables previously raised $20 million in equity funding. The company has seen significant growth, crossing a turnover of $60 million in FY 2023-24 and expanding full-time employee strength from 72 to over 500.

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Furthermore, GPS Renewables recently acquired Germany-based Proweps Envirotech GmbH, specializing in technologies for biogas production from organic waste. Founded by Mainak Chakraborty and Sreekrishna Sankar, GPS Renewables provides holistic solutions for biofuels development and distribution.

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Mahindra introduces the new Bolero Neo+ with seating for nine, prices starting at Rs 11.39 lakh

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Mahindra unveils new nine-seater Bolero Neo+ starting at Rs 11.39 lakh

Mahindra & Mahindra Launches 9-Seater Bolero Neo+ Starting at Rs 11.39 Lakh

New Delhi, April 16 (IANS) – Mahindra & Mahindra unveiled the 9-seater ‘Bolero Neo+’ in two variants, the P4 and P10, with prices starting at Rs 11.39 lakh (ex-showroom). The P4 serves as the entry-level option, while the P10 is a more premium trim, offering durability, advanced features, and superior comfort.

Nalinikanth Gollagunta, CEO – Automotive Sector, Mahindra & Mahindra, stated, “With the launch of the Bolero Neo+, we are offering a promise of durability, advanced features, and superior comfort that enriches the driving experience for every family and fleet owner alike.” The new vehicle features signature Bolero elements like X-shaped bumpers, a front grille with chrome inserts, and an X-shaped spare wheel cover, along with side body cladding.

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Powered by a 2.2-litre mHawk diesel engine with Micro-Hybrid Technology for fuel efficiency and performance, the Bolero Neo+ also comes equipped with advanced safety features such as ABS, dual airbags, child seats, engine immobiliser, and automatic door locks. The SUV boasts a 22.8 cm touchscreen infotainment system with Bluetooth, USB, and Aux connectivity, along with front and rear power windows, armrests, and generous boot space for comfort and practicality.

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New Asus Zenbook DUO dual-screen laptop launched in India

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Asus's new dual-screen laptop 'Zenbook DUO' now available in India

New Delhi, April 16 (IANS) Taiwanese tech giant Asus has announced the availability of its dual-screen laptop ‘Zenbook DUO’ in India. Priced starting at Rs 1,59,990, the Zenbook DUO can be purchased on e-commerce platforms, Amazon and Flipkart.

The Zenbook DUO, which features dual 14-inch FHD+ OLED touch screens with a 16:10 aspect ratio, offers a 0.2ms response time and 60Hz refresh rate. Arnold Su, VP, Consumer and Gaming PC, System Business Group, Asus India, mentioned, “With its revolutionary dual-screen OLED displays, detachable Bluetooth keyboard, and versatile kickstand, the Zenbook DUO redefines the boundaries of productivity and creativity.”

Weighing just 1.35 kg (1.65kg with a keyboard) and measuring 14.6 mm thin, the Zenbook DUO boasts a sleek all-metal design. It is powered by up to Intel Core Ultra 9 Processor 185H, with Intel Arc iGPU and Intel AI Boost NPU for exceptional performance.

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The laptop offers an exhaustive port selection, including 2 x Thunderbolt 4 USB Type-C ports, USB 3.2 Gen 1 (Type-A), HDMI 2.1, and a 3.5mm combo audio jack, providing versatile connectivity options. Asus mentioned that the Zenbook DUO also comes equipped with a range of intuitive software features designed to enhance user experience.

The Zenbook DUO’s availability on e-commerce platforms in India has brought the latest dual-screen technology innovation from Asus to consumers, promising a new level of productivity and creativity for users in the country.

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