Aadhaar checks: UIDAI plans rule to mandate registration for verifiers; push paperless verification

Aadhaar-based verification is set to move further away from paper trails, with the Unique Identification Authority of India (UIDAI) preparing to notify a new rule mandating registration of entities that seek offline Aadhaar verification, reported PTIThe proposed rule aims to discourage practices such as hotels, event organisers and similar entities collecting photocopies of Aadhaar cards […]

AceVector IPO: SoftBank-backed Snapdeal parent refiles draft papers with Sebi; plans Rs 300 crore fresh issue

SoftBank-backed digital commerce ecosystem AceVector Ltd has filed updated draft red herring prospectus (UDRHP) with markets regulator Sebi for its proposed initial public offering, which includes a fresh issue of shares worth Rs 300 crore, according to PTI.The IPO will also feature an offer for sale (OFS) of 6.38 crore shares by existing shareholders. Promoter […]

Smartworld Developers enters Noida, plans ₹3,000-crore mixed-use project

Gurugram-based Smartworld Developers has announced its foray into Noida with the acquisition of a roughly 6-acre land parcel in Sector 98, where it plans to launch a mixed-use development comprising branded residences, high-street retail and serviced homes. The land, located along the Noida Expressway, was secured through an auction for ₹414 crore, and the project’s […]

Pension reforms: PFRDA plans NPS fund-of-funds; will new AIF framework boost long-term capital flow?

The Pension Fund Regulatory and Development Authority (PFRDA) will create a dedicated NPS fund-of-funds platform to route pension money into selected alternative investment funds (AIFs), chairman S Ramann said on Tuesday, outlining a broader push to position pension assets as a stable source of long-term capital for India’s private markets. Speaking at IVCA DII & […]

No plans for public sector banks merger? Government issues clarification; here’s what MoS detailed on FDIs, IDBI offloading & more

The government on Monday confirmed that there are no ongoing discussions or plans regarding the restructuring or combining of public sector banks.Pankaj Chaudhary, minister of state for finance, in a written reply to the Lok Sabha ruled out any such consideration and clarified, “presently, no proposal on merger or consolidation of Public Sector Banks (PSBs) […]