The country's largest lender State Bank of India (SBI) and payments solution provider Hitachi Payment Services entered into an agreement in October to form a joint venture (JV) for establishing a card acceptance and digital payment platform.
SBI will have a majority stake in the proposed JV.
The JV will provide various payment options to customers and merchants focusing on areas such as rollout of a nationwide card acceptance infrastructure, quick response code acceptance, Unified Payment Interface, mass transit sector and e-commerce businesses.
In a separate tweet, the fair trade regulator said it has given green signal to Ageas Insurance International's acquisition of 40 per cent equity share in Royal Sundaram General Insurance.
Ageas, a global insurance service provider, currently has only an indirect business presence in India through its investment comprising 26 per cent of the equity shareholding in IDBI Federal Life Insurance (IFLI).
The 'drive systems segment' includes the supply of planetary gearboxes, transmissions, gears, synchronizers, and other components and sub-assemblies to be used in various vehicle and industrial applications.
Deals beyond a certain threshold require approval from the CCI.