Business

Paytm to Address FEMA Allegations Related to Little Internet and Nearbuy Subsidiaries

Published

11 months ago

March 4, 2025

On Saturday, Paytm, a leading player in digital payments and financial services, announced its intention to address alleged contraventions of the Foreign Exchange Management Act (FEMA) involving two of its acquired subsidiaries: Little Internet Private Limited (LIPL) and Nearbuy India Private Limited (NIPL).

In a filing with the stock exchange, Paytm clarified that the alleged violations are linked to transactions that occurred before these companies were integrated into Paytm.

The issue arose following a show-cause notice (SCN) issued by the Directorate of Enforcement (ED) on February 28, 2025, regarding purported FEMA violations for transactions conducted between 2015 and 2019.

Paytm indicated that it is currently seeking legal counsel and exploring appropriate remedies through the relevant regulatory channels. The company emphasized that some of the alleged infractions took place before it made its investment in Little and Nearbuy, underscoring that these transactions occurred prior to their status as subsidiaries.

Furthermore, Paytm reassured stakeholders that this matter will not disrupt its operations. All services on the Paytm platform continue to function smoothly and securely, with no adverse effects on users or merchants.

The company reaffirmed its dedication to transparency, sound governance, and adherence to regulatory standards, and it is actively working to resolve this situation in accordance with applicable laws while continuing to serve its expansive user base and merchant partners.

Last month, the Securities and Exchange Board of India (SEBI) issued a settlement order involving Paytm Money, which allowed the financial services firm to settle allegations of regulatory non-compliance by paying Rs 45.5 lakh, thus avoiding further legal actions related to the matter. This case stemmed from a show-cause notice from SEBI dated July 24, 2024, concerning non-compliance with the regulator’s technical glitch framework.

Business

India May Buy More Oil From Venezuela Instead of Russia

Published

1 week ago

January 31, 2026

Namma Kudla

Business : The United States has told India that it can soon resume buying oil from Venezuela.The suggestion is part of a U.S. effort to reduce India’s dependence on Russian crude oil.

This pitch comes as India plans to cut Russian oil imports by several hundred thousand barrels per day in the coming months. Under the Trump administration, the United States had imposed a 25 % tariff on countries that bought Venezuelan oil, including India.

Now, the U.S. wants India to resume Venezuelan oil purchases to help diversify India’s energy sources. The United States is also trying to reshape energy ties with India as part of broader diplomatic engagement.

Venezuela’s interim president Delcy Rodríguez said she agreed with India on energy cooperation in a recent phone call with Prime Minister Narendra Modi. PM Modi said both sides agreed to deepen their partnership and expand cooperation in all areas.

Venezuela has the world’s largest proven oil reserves. Recently, Venezuela opened its oil sector to private investment to attract foreign capital and boost production.

India was one of the major buyers of Russian crude after the Ukraine war began in 2022. But India is now seeking alternative suppliers as part of its energy strategy.

Business

Chicken Prices Remain Stable in Local Markets

Published

2 weeks ago

January 27, 2026

Namma Kudla

Chicken prices remained stable in local markets today.Traders said there was no major change in rates.Consumers continued to make regular purchases.

Boneless chicken is priced at ₹210 per kilogram.Regular chicken is available at ₹160 per kilogram.Chicken liver is being sold at ₹120 per kilogram.

Country chicken is priced higher due to demand.It is selling at ₹360 per kilogram.Live chicken is available at ₹130 per kilogram.

Skinless chicken is priced at ₹200 per kilogram.Vendors said supply is sufficient in the market.They expect prices to remain steady in the coming days.

Customers expressed satisfaction with the current rates.Market officials said there is no shortage of chicken.

Business

Gold Prices Edge Up in India on January 19, 2026

Published

3 weeks ago

January 19, 2026

Namma Kudla

Gold prices in India recorded a slight increase on January 19, 2026, supported by global market trends, local demand, and movements in the rupee-dollar exchange rate.

As per market estimates, 24-carat gold, which is considered pure gold, is priced at ₹14,569 per gram, or ₹1,45,690 per 10 grams. 22-carat gold, commonly used for jewellery, is trading at around ₹13,355 per gram, or ₹1,33,550 per 10 grams.

The prices have risen marginally compared to the previous day. The increase is mainly linked to a weaker Indian rupee against the US dollar, which makes imported gold more expensive.

Gold rates vary slightly across cities such as Mangalore and other parts of the country. These differences depend on local taxes, transportation costs, jeweller margins, and regional demand.

Demand for gold remains strong due to the wedding season and festive buying, which continues to support higher prices. Investors also turn to gold during uncertain economic conditions, as it is seen as a safe-haven asset.

Experts say that global geopolitical developments, inflation concerns, and central bank policies are also influencing international gold prices, which in turn affect domestic rates.

Market participants expect gold prices to remain firm in the near term if the rupee stays weak and demand continues at current levels.