Top headlines: Zomato to acquire Blinkit, PPI ban to hit BNPL users & more

The move could also result in a systemic risk from a lending standpoint because if suddenly the products are stopped, it may not be possible for customers to repay their loans

Food aggregator platform Zomato’s board approved the acquisition of quick-commerce company Blinkit for Rs 4,447 crore (around $567 million) in an all-stock deal. Zomato will be acquiring 33,018 equity shares of Blink Commerce Pvt Ltd (BCPL). The Reserve Bank of India’s (RBI’s) move to disallow loading prepaid payment instruments (PPIs) from credit lines may affect 8-10 million customers who are part of the “buy now pay later” (BNPL) universe, say players who are feeling the heat owing to the regulatory diktat.


Zomato board approves acquiring quick commerce firm Blinkit for Rs 4,447 cr

Food aggregator platform Zomato’s board