Bengaluru, Feb 19 (IANS) The Enforcement Directorate (ED) in Bengaluru has seized assets worth Rs 590 crore from Winzo Pvt. Ltd. and its subsidiary, Zo Pvt. Ltd. under Section 37A of the Foreign Exchange Management Act, 1999. The action followed suspected violations of Section 4 of FEMA, according to an official statement released Thursday.According to the ED, the seized assets include bank accounts, fixed deposits, mutual funds, and bonds linked to the companies.The ED stated: “Winzo is enga…
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New Delhi, Feb 1 (IANS) As part of the financial sector reforms announced in the Union Budget for 2026-27 on Sunday, the government proposes to restructure the Power Finance Corporation and the Rural Electrification Corporation to achieve scale and improve efficiency in the public sector NBFCs.The vision for NBFCs for Viksit Bharat has been outlined with clear targets for credit disbursement and technology adoption.Finance Minister Nirmala Sitharaman said in Parliament that a High-Level Committe…