Another week of financial and business revelations has come to a close, and as always, there’s a lot to unpack. From the world of finfluencers to the ever-evolving Adani saga, the week was rife with developments that kept investors and market watchers on their toes. Let’s dive into the top stories of the week.
Adani Group Faces Fresh Allegations
The Adani Group found itself in troubled waters once again as the Organized Crime and Corruption Reporting Project (OCCRP) released a report alleging connections between the Adani family and opaque funds based in Mauritius. The report suggests potential violations of India’s promoter holdings law. Despite the allegations, the Adani Group has vehemently denied any wrongdoing, labeling the report as “recycled” and a revival of the earlier Hindenburg allegations. Read the full article here.
Finfluencers Under the Microscope
Finance content creator Akshat Shrivastava has voiced his opinion that mainstream media should be subject to the same regulations as influencers in the financial education sector. This comes in light of the Securities and Exchange Board of India (SEBI) scrutinizing potential malpractice by online finance educators. On the other hand, Nithin Kamath, founder of Zerodha, has cautioned investors about the dangers of relying on finfluencers promising quick riches. Kamath’s comments highlight the ongoing debate around the role and responsibility of financial influencers in the digital age. Read the full article here.
BNP Paribas to Sell Sharekhan?
European banking giant BNP Paribas is reportedly looking to sell its entire stake in domestic brokerage firm Sharekhan. The bank, which acquired the brokerage in 2016, is now eyeing a sale price of around $370-$420 million. Potential buyers include Jio Financial Services, Paytm Money, and Bajaj Finserv. Read the full article here.
PhonePe Enters Stock Broking
Digital payment platform PhonePe has launched its stock broking app, marking its entry into the stock trading domain. With this move, PhonePe aims to tap into the growing interest in stock trading among its vast user base. The app promises a seamless experience, allowing users to invest directly from their PhonePe wallets. Read the full article here.
Viacom18 Bags BCCI Media Rights
Viacom18, backed by Mukesh Ambani, has secured the BCCI media rights for both TV and digital platforms for the next five years. The rights cover all major BCCI cricketing events. The deal signifies a shift in the broadcasting landscape, with Viacom18 now holding rights to some of the most-watched cricketing events in the country. Read the full article here.
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