FinMin permits 22 firms for Aadhaar-based verification

New Delhi

The Finance Ministry has allowed 22 financial companies, including Amazon Pay (India) and Hero FinCorp, to undertake Aadhaar-based authentication of clients. These 22 financial companies include Godrej Finance, Amazon Pay (India) Pvt Ltd, Aditya Birla Housing Finance, Tata Motors Finance Solution, IIFL Finance and Mahindra Rural Housing Finance Ltd. PTI

Gold demand in Jan-March drops by 17% to 112 tonne
Mumbai

India’s gold demand during January-March quarter declined by 17% to 112.5 tonnes, as record high gold rates and high price volatility affected consumption, according to the World Gold Council (WGC). Overall gold demand during the corresponding quarter in 2022, was at 135.5 tonnes, WGC’s Gold Demand Trends Q1 2023 said. PTI

E-commerce firm Meesho lays off 251 employees

New Delhi

E-commerce firm Meesho has laid off 251 employees constituting 15% of its workforce. Meesho founder and CEO Vidit Aatrey in an email to employees said the affected employees will get one month extra severance pay beyond the notice period and ESOPs irrespective of the period they have been with the company. PTI

Forex reserves rise by $4.5 bn to $588.78 bn

New Delhi

India’s foreign exchange reserves jumped $4.532 billion to $588.78 billion for the week ended April 28, the RBI said on Friday. The overall reserves had dropped $2.164 billion to $584.248 billion in the previous reporting week.