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News on Medial
Amazon finalizing application for satcom licence in India
Livemint
·
1y ago
Medial
Amazon is reportedly in the final stages of applying for a satellite communications license in India, similar to Elon Musk's Starlink. The Seattle-based company is seeking an operator's license for its Project Kuiper service and is expected to file it with the Department of Telecommunications in the coming weeks. The license would allow Amazon and other approved companies to offer satellite-based internet services to various industries. Other firms, including Starlink and OneWeb, are also vying for a share of the satellite internet services market in India.
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Amazon’s Project Kuiper May Soon Join Eutelsat OneWeb, Others To Secure Satcom Licence In India
Inc42
·
1y ago
Medial
Amazon is in the process of obtaining the necessary licences from the Department of Telecommunications (DoT) for its satellite internet service, Project Kuiper. The company has submitted all required documents, including its network diagram, to the DoT for evaluation. The DoT has not yet granted licences to Amazon or SpaceX for global mobile personal communication by satellite services (GMPCS) in India. Project Kuiper plans to launch its satellite constellation and initiate service rollout by the end of 2024.
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Apple Partner Globalstar To Now Apply For Satcom Licence In India
Inc42
·
1y ago
Medial
Globalstar has expressed its interest in setting up a wholly-owned subsidiary in India. The satellite communications company plans to apply for a GMPCS authorization, citing India as the largest market it has yet to enter. This move puts Globalstar in the company of other major global players, such as Starlink and Project Kuiper, who have also sought regulatory approval to offer satellite communication services in India.
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Paytm NPCI Licence: Paytm gets third-party licence before March 15 deadline
Livemint
·
1y ago
Medial
Paytm has received a third-party application provider license from the National Payments Corporation of India (NPCI), allowing its customers another option to use the app for payments after its banking arm Paytm Payments Bank shuts down by March 15. The license will enable four banks (Axis Bank, HDFC Bank, State Bank of India, and YES Bank) to act as Payment System Provider banks for One97 Communications. In February, the RBI asked the NPCI to consider Paytm's request for becoming a third-party application provider.
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Satcom cos seek licence fee, SUC & bank guarantee relief
Economic Times
·
12d ago
Medial
India's space and satellite companies urge the government for reduced licence fees and spectrum usage charges, along with eased bank guarantee requirements for satellite communications. The Indian Space Association (ISpA) recommends delinking levies from the Universal Service Obligation Fund, equitable distribution of Digital Bharat Nidhi funds, and embedding satellite solutions in national programs. The ISpA also seeks regulatory simplifications, a spectrum roadmap, and domestic ecosystem support to encourage investment and sector growth.
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Jio Financial-BlackRock applies for mutual fund licence with SEBI
Livemint
·
1y ago
Medial
Jio Financial Services and BlackRock have applied for a mutual fund license with the Securities and Exchange Board of India (SEBI). The application, which was submitted on October 19, is currently under consideration. Jio BlackRock aims to bring affordable and innovative investment solutions to millions of investors in India through a digital-first approach.
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RBI Grants Payment Aggregator Licence To Amazon Pay
Inc42
·
1y ago
Medial
Amazon Pay, the fintech arm of e-commerce giant Amazon, has received authorization from the Reserve Bank of India (RBI) to operate as a payments aggregator (PA). This license allows Amazon Pay to strengthen its distribution channels and deliver innovative solutions for merchants and customers. The RBI has granted the PA license to 10 applicants so far in 2024, including JusPay, Stripe, Tata Payments, and Mswipe. This approval comes amid increased scrutiny from the central bank on fintech startups and their compliance with regulations. The digital payments sector in India is expected to reach a market size of $253 billion by 2030.
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Amazon Pay secures payment aggregator licence from RBI
Economic Times
·
1y ago
Medial
Amazon Pay has received a payment aggregator (PA) license from the Reserve Bank of India, allowing it to offer online merchant payment services. This license will enable Amazon to strengthen its merchant payments business and provide secure and convenient payment experiences to its customers. Amazon Pay operates a consumer-focused mobile wallet and has issued 6.6 crore wallets as of January 2024. With this license, Amazon can process e-commerce payments and expand its services to direct-to-consumer sellers. In FY23, Amazon Pay reported operational revenue of Rs 2,093 crore and a net loss of Rs 1,499 crore.
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Musk's Starlink licence application in process, ownership 'declaration' received
Livemint
·
1y ago
Medial
The government is currently reviewing the security aspects of Elon Musk's satellite venture Starlink as part of the license application process. Financial aspects and FDI requirements are being examined, and the ownership declaration from Starlink has been received. Musk is scheduled to visit India on April 21 and 22, where he may announce investment plans for the country. Starlink has also applied for a permit to offer satellite-based internet services in India. The progress on approval and business plans for satellite internet services will be closely watched.
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Amazon Pay, Adyen, BillDesk secure cross-border payment licence from RBI
Economic Times
·
1y ago
Medial
Three payment companies in India, BillDesk, Amazon Pay, and Adyen, have received the cross-border payment aggregator license from the Reserve Bank of India (RBI). They join Cashfree in the list of license holders, allowing them to offer payment services in the export-import space. With India being a significant market for remittances and global freelancers, the cross-border payment aggregators have the opportunity to tap into this market. All five companies also hold payment aggregator licenses, enabling them to offer merchant payment services domestically. BillDesk, Amazon Pay, and Adyen have established themselves as leading players in their respective areas.
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Binance withdraws Abu Dhabi licence bid as crypto giant weighs structure
Economic Times
·
1y ago
Medial
Binance has withdrawn its application for an Abu Dhabi license, signifying a potential restructuring amid growing regulatory pressures. The application, filed a year ago, was for managing a collective investment fund. Binance emphasized that the decision to withdraw was unrelated to the recent $4.3 billion settlement with U.S. regulators. Binance has been reassessing its global structure, withdrawing from processes in Germany, Cyprus, the Netherlands, and facing regulatory actions in Belgium, the UK, Russia, Australia, and the Philippines. The company aims to work with regulators to provide services in the Middle East and beyond.
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