MAM
Moneycontrol collaborates with Gap Up by Rigi for expert insights
Mumbai: Moneycontrol, India’s financial news and investment platform has collaborated with Gap Up by Rigi, an innovative platform specialising in investor education and skill enhancement. This groundbreaking partnership introduces an offering to our audience, providing curated advisory from SEBI-registered experts on stock market intricacies and trading strategies.
As the financial landscape becomes more intricate, this collaboration aims to bridge the knowledge gap for both new and seasoned investors and traders, establishing Gap Up by Rigi as a trusted market insight partner. This innovative platform is accessible through both the Moneycontrol website and app, providing a diverse range of topics, including options trading, intraday and positional trading, multi-bagger investing, and more.
For individuals seeking trading advisory from SEBI-registered analysts, Gap Up by Rigi becomes a one-stop shop, offering expertise from renowned market veterans with a wealth of experience of three decades on Dalal Street. The platform includes daily equity futures and options calls and real-time updates on crucial events during market hours, encouraging traders to make informed decisions.
Rigi co-founder Swapnil Saurav expresses his enthusiasm: “The establishment of Gap Up is driven by Rigi’s ongoing commitment to empower creators. Our partnership with Moneycontrol allows us to expand our outreach to a wider audience, assisting them in making informed decisions and formulating strong trading strategies.”
Moneycontrol business head Manoj Nagpal said shared his thoughts on the collaboration, saying, “The collaboration between Moneycontrol and Gap Up by Rigi marks a significant milestone in the realm of financial education. It combines the expertise of both platforms to empower investors and traders with the knowledge needed to navigate the dynamic world of stock investing. Moneycontrol has always been committed to empowering its users with information and actionable knowledge. Partnering with Gap Up by Rigi aligns perfectly with its vision to provide a comprehensive suite of learning tools for its diverse user base.”
With this collaboration, Moneycontrol and Gap Up by Rigi are setting new benchmarks in financial education and user empowerment, ensuring that investors and traders are well-equipped to navigate the dynamic and often challenging world of stock investing.
To know more visit – https://www.moneycontrol.com/msite/gapup-club
Brands
Reserve Bank of India cancels Paytm Payments Bank licence
Central bank cites compliance failures; curbs tighten as wind-up looms
MUMBAI: India’s banking watchdog delivered its sharpest blow yet to Paytm Payments Bank, cancelling its licence and effectively ending its ability to operate as a bank under the law.
The Reserve Bank of India said the entity can no longer conduct banking business under the Banking Regulation Act, citing concerns that its affairs were not being run in the interest of depositors or the public and that it had failed to meet licence conditions.
The move escalates a crackdown that has been building for months. The bank had already been barred from onboarding new customers since March 11, 2022, and later faced restrictions on deposits, credit and wallet top-ups. In January 2024, the central bank ordered it to stop accepting fresh deposits, pointing to persistent non-compliance, including lapses in customer due diligence, use of funds and technology systems.
Operationally, the bank is now on a tight leash. It may process withdrawals of existing deposits and facilitate loan referrals through banking correspondents, but it cannot take fresh deposits.
The central bank said it would apply to the high court to wind up the bank.
Paytm sought to ringfence the fallout. In a regulatory filing, it said the licence cancellation applies to Paytm Payments Bank Limited, a separate entity, and should not be attributed to One 97 Communications. It added that there is no exposure or material business arrangement with the bank and that it operates independently, without Paytm’s board or management involvement.
“As informed earlier, Paytm (One 97 Communications Limited) and its services, which have been operating without interruption, will continue to operate uninterrupted. These include the Paytm app, Paytm UPI, Paytm Gold and all other services offered by its subsidiaries and associated companies,” the company said.
The distinction may reassure users of the app ecosystem, but the regulator’s verdict is unequivocal. After years of warnings, caps and curbs, the payments bank experiment at Paytm is being shut down—decisively, and with little room left to manoeuvre.
