Today's Business Blitz- "RBI's New Unified Lending Interface, Paytm's Ghost from the Past, Spiritual Startup, Funding from Cricket Star KL Rahul, Inflection Introduces Usage Limits for Pi"
26th August, 2024
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1. “RBI's New Unified Lending Interface: Boosting Credit for Agriculture & MSMEs”
RBI to launch Unified Lending Interface (ULI) to provide credit to rural and small businesses.
ULI will cater to unmet demand for credit, particularly in agriculture and MSME sectors.
ULI will facilitate seamless data flow from multiple sources, reducing time for credit appraisal and documentation.
RBI Governor Shaktikanta Das emphasizes ULI's potential to transform lending like UPI did for payments.
RBI highlights importance of Digital Public Infrastructure (DPI) and its role in financial inclusion.
RBI urges caution in using AI for critical decision-making in financial institutions.
RBI plans cautious approach to system-wide CBDC rollout, focusing on understanding its impact and interoperability.
#B2G#News#AI#decision#business#RBI#UPI
2. “Paytm's Ghost from the Past: Old SEBI Notice Resurfaces to Haunt”
SEBI issued a show-cause notice to Paytm over promoter Vijay Shekhar Sharma's classification and ESOPs.
Sharma transferred a 5% stake to VSS Holdings Trust before the IPO, reducing his shareholding to 9.6%, which SEBI alleges was to avoid promoter classification.
Paytm claims the notice is not new and that it disclosed the details in its financial statements.
Paytm's shares fell after the news.
Paytm was also penalized for failing to pay stamp duty on equity shares and violating the Prevention of Money Laundering Act.
3. “Spiritual Startup My Tirth India Halts Operations: Founder's Lifelong Regret”
My Tirth India, a spiritual tourism startup, has shut down due to lack of funds.
Founder Indraneel Dasgupta blames the demise of principal shareholder Subrata Roy for the funding shortfall.
The startup offered tours, membership programs, and spiritual showrooms.
Dasgupta has expressed deep regret and pain over the closure.
#funding#Article#News#Startup#startup
4. “Breaking News: Metaman, the Rising D2C Brand, Secures Fresh Funding from Cricket Star KL Rahul for New Perfume Launch”
D2C lifestyle brand Metaman secures additional funding from cricketer and investor KL Rahul.
Rahul will become the brand ambassador for the launch of Metaman's perfume range on August 30.
Funding will be used for fragrance range launch, marketing, new product segments, and retail expansion.
Metaman aims to become a comprehensive men's lifestyle brand like Zara.
The investment highlights the trend of investor and celebrity interest in D2C startups.
Rahul, an active startup investor, holds stakes in Boldfit, OTO, and XYXX.
#funding#Rahul#News#Internet#marketing#Exclusive#startup
5. “Breaking News: Inflection Introduces Usage Limits for Pi, Five Months Post Microsoft Acquisition”
Five months after Microsoft hired its founders, Inflection adds usage caps to Pi Inflection will cap free access to its AI chatbot Pi in the coming months, the startup tells TechCrunch. Users can also now export their conversations off the AI chatbot, as the new CEO shifts the company’s focus towards enterprise products. The usage caps come just a year after Inflection raised $1.3 billion to build out […] © 2024 TechCrunch. All rights reserved. For personal use only.
#enterprise#inflection#AI#Startups#AI chatbot#war#TC#Microsoft#company#billion#startup
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