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A Delhi Court has transferred proceedings in the Bhushan Steel money laundering case from one judge to another, after one of the accused alleged that the judge passed a comment expressing "ED matters...
The infusion of Rs 426 crore to PhonePe Insurance Broking Services points to the payment company's bullish bet on the segment. PhonePe has infused more than Rs 1,000 crore as equity investment in its insurance unit since it was licensed, according to information sourced from the Registrar of Companies.
PhonePe, the Walmart-backed digital payments major, has strengthened its board of directors with the induction of Tarun Bajaj, former revenue secretary, as an Independent Director and Chairman of the Risk Committee. It has also brought on board John D Rainey, executive vice president and chief financial officer of Walmart, and Donna Morris, executive vice president and chief people officer of Walmart, as non-executive directors.
PhonePe has been broadening its ambitions beyond payments, with the launch of an e-commerce-focused app called Pincode and an investment app for stocks and mutual funds called Share. Market.
Wealthtech platform Share.Market aims to give a new dimension to discount broking in India by offering quantitative research and market intelligence. Share.Market plans to go live with futures & options trading by the end of March. Share.Market aims to bring in a new dimension to stock broking by providing quantitative research along with execution.