Top headlines: India’s Q1 GDP grows 20.1%; PayU buys BillDesk for $4.7 bn
India’s GDP growth accelerates to 20.1% in Q1FY22 on low base
Indian economic growth touched a record high in the quarter through June, reflecting a very weak base last year, a rebound in consumer spending, and improved manufacturing in spite of a devastating second wave of Covid cases, government data showed on Tuesday.
Gross domestic product rose 20.1% in the three-month period, compared with a record contraction of 24.4% in the same quarter a year earlier. Read more
PayU acquires BillDesk for $4.7 bn in one of largest Indian fintech deals
Fintech services provider PayU will acquire BillDesk for $4.7 billion. Prosus NV, the global consumer internet group and one of the largest technology investors in the world, announced today that an agreement has been reached between PayU and the shareholders of the Indian digital payments provider BillDesk to acquire the latter. This will be one of the largest deals in the Indian fintech sector. Read more
For 2nd time in 5 days, India administers over 10 mn Covid doses in a day
India’s COVID-19 vaccination coverage touched the 65 crore mark on Tuesday with over 1 crore vaccine doses being administered in a single day in the country today, for the second time in five days, informed the Union health ministry.
As per data available on CoWIN portal, as many as 1,08,84,899 doses of the COVID-19 vaccine were administered in the country today. Read more
WhatsApp says it banned 3 mn accounts in India in second compliance report
WhatsApp banned over 3 million Indian accounts on the messaging service in the 46-day period from 16 June to 31 July 2021, the firm said in its second compliance report under the new Information Technology Rules, 2021.
It received 137 reports for account support, of which one was actioned, and 316 requests to ban accounts, of which 73 were actioned, the messaging giant said in the report. It banned a total of 3,027,000 accounts in the reported period. Read more
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