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Meta’s digital wallet service Novi will no longer be available for use after September 1. The Facebook parent, which is shutting down its Novi pilot project less than a year after starting it, ‘strongly advised’ users to withdraw their money from Novi.
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The government-promoted bad bank National Asset Reconstruction Company of India Ltd (NARCL) last week offered to acquire five distressed loan accounts, including those of Future Retail and GTL Ltd, said two people aware of the development.
The Securities and Exchange Board of India (Sebi) is considering a plan to allow Alternative Investment Funds (AIFs) to extend by two more years the lifecycle of investment products that are set to be wound up, said people with direct knowledge of the matter.
The MSCI India index—a benchmark for global fund managers to assess the country’s investment performance—now has a valuation premium of 96% and 39% over the MSCI Emerging Markets and the MSCI World indices, respectively.
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