| | JUNE 20238Google Pay, in collaboration with the National Payments Corporation of India (NPCI), has added RuPay credit card capability to the Unified Payments Interface (UPI). Users can now link their RuPay credit cards to Google Pay and pay at all online and offline merchants that accept RuPay credit cards.According to a corporate release, the feature is now accessible to RuPay credit card customers of Axis Bank, Bank of Baroda, Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, and Union Bank of India. "This feature will give Google Pay users more flexibility and choice in making payments, as well as drive greater adoption of digital payments in the country," said Sharath Bulusu, Google's Director of Product Management.To get started, users must link their RuPay credit card to Google Pay. Users can select the bank that issued their RuPay credit card by tapping on the "RuPay credit card on UPI" option on their profile. Following that, users must create a unique UPI PIN by inputting the last six digits of their card number and expiration date, as well as their bank's OTP."The integration of RuPay Credit Card on UPI delivers a remarkable user experience by seamlessly combining the convenience of UPI with the benefits of RuPay Credit Card," said Nalin Bansal, NPCI's Chief Relationship Management and Key Initiatives, Corporate Business.In June 2022, the Reserve Bank of India (RBI) approved the connecting of RuPay credit cards to the UPI network. Meanwhile, the NPCI recorded a significant increase in monthly transaction count, with UPI transactions reaching 8.7 billion in March. According to NPCI data, over 74 billion transactions of Rs.125.94 trillion were carried out using UPI in calendar year 2022. The Ahmedabad-based Nirma group and other top private equity companies have joined the contest to acquire Glenmark Life Sciences, which is listed on the BSE.If successful, the acquisition by chemicals-to-cement company Nirma would be a significant boost for the group's health-care division, similar to its successful foray into the cement sector following its purchase of Lafarge India's assets for approximately Rs.9,400 crore in July 2016. It then purchased Emami cement assets for Rs.5,500 crore in February 2020.Glenmark owns 82.8 percent of the company, which has a market capitalization of Rs.6,361 crore as of Tuesday, with its shares ending at Rs.519 each.Aside from Nirma, American private equity behemoths KKR, Blackstone, and BPEA-EQT are interested in acquiring a share in the company, according to a banking source. "All of the companies have done their due diligence, and offers are expected soon," a banker familiar with the situation said. Glenmark intends to utilise the money to lower its net debt, which stood at Rs.2,904 crore as of March of this year.In April of this year, the Nirma group paid approximately Rs.350 crore for the acquisition of Stericon Pharma, a manufacturer of eye drops and contact lenses. GPAY COLLABORATES WITH RUPAY TO SUPPORT UPI ON CREDIT CARDSKKR, BLACKSTONE, BPEA-EQT & NIRMA COMPETING FOR PURCHASE OF GLENMARK LIFE SCIENCESIN FOCUSIN FOCUS
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