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Top headlines: RBI setback to Mastercard; Infosys Q1 net profit rises 23%

Here are the top stories of the day

Crony capitalism has built up slowly in India, emerging as a Frankenstein’s monster a decade and a half after politicians began to unchain the private sector in the early 1990s
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Reserve Bank of India

BS Web Team
RBI bars Mastercard from onboarding new customers in India from July 22

The Reserve Bank of India (RBI) on Wednesday barred global card player Mastercard Asia/ Pacific Pte Ltd from onboarding new domestic customers on its network from July 22, due to non-compliance with guidelines on local data storage, despite ample time and adequate opportunities given to it. Read more here

Infosys Q1 net profit rises 23%; company hikes FY22 revenue guidance

Infosys Q1 FY22 numbers look like a balancing act, but a hike in its annual revenue guidance signals for a robust growth for the industry.

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