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Ajay Banga, former Mastercard CEO nominated by Joe Biden to head World Bank

The president of the Washington-based Bank is typically American, while the leader of the International Monetary Fund is customarily European.

US President Joe Biden on Thursday announced the nomination of former Mastercard chief executive Ajay Banga as a candidate to lead the World Bank, after the development lender's current head announced plans to step down early.
The World Bank has just started accepting candidate nominations in a process set to run until March 29, with the bank saying that women contenders would be "strongly" encouraged.
The president of the Washington-based Bank is typically American, while the leader of the International Monetary Fund is customarily European.
Banga, who is Indian-American, was previously chief executive at Mastercard, and has also served on the boards of the American Red Cross, Kraft Foods and Dow Inc. He currently is vice chairman at private equity firm General Atlantic.
The 63-year-old Sikh was born and raised in India, travelling regularly as a child due to his father's military career, and started his career there before emigrating to the United States. Also Watch: <a href="https://www.editorji.com/tech-news/indian-american-neal-mohan-is-the-new-ceo-of-youtube-1676621813062">Indian-American Neal Mohan is the new CEO of YouTube</a>

Payment and technology company Mastercard on Monday acquired the title sponsorship rights for all BCCI international, both women and men, along with domestic home matches, which include Irani Trophy, Duleep Trophy and Ranji Trophy.
Mastercard will also extend the sponsorship to all junior cricket matches, Under19 and Under23, which are organised by the Indian cricket board at home.
Also read: Asia Cup 2022 Super 4 points table
According to various reports, Paytm had prematurely exited the deal with BCCI after seven years of association.
In a press statement, BCCI president Sourav Ganguly said that BCCI is looking forward to some innovative experiences for the fans through the collaboration with Mastercard. 
Asia Cup 2022 Super 4 full schedule and results
Meanwhile, MS Dhoni, who is the brand ambassador of Mastercard for over four years now, said that he is thrilled to see Mastercard is sponsoring all the home cricket matches of BCCI, especially domestic, junior and women's cricket. 

Mastercard replaces Paytm as title sponsor for all India home matches

Payment and technology company Mastercard has acquired the title sponsorship rights for all international & domestic matches in India.
Click for details.

Mastercard will also extend the sponsorship to all junior cricket matches, Under-19 and Under-23 games which are organised by the Indian cricket board at home

Payment and technology company Mastercard on Monday acquired the title sponsorship rights for all India home matches, for both women's and men's teams, along with domestic competitions, which include the Irani Trophy, Duleep Trophy and Ranji Trophy.
Mastercard will also extend the sponsorship to all junior cricket matches, Under-19 and Under-23 games which are organised by the Indian cricket board at home
Also read: <a href="https://www.editorji.com/sports-news/cricket/asia-cup-2022-super-4-points-table-india-pakistan-sri-lanka-afghanistan-rankings-positions-match-results-1662320169780">Asia Cup 2022 Super 4 points table</a>
According to various reports, Paytm had prematurely terminated the deal with BCCI after seven years of association.
In a press statement, BCCI president Sourav Ganguly said that BCCI is looking forward to some innovative experiences for the fans through the collaboration with Mastercard.&nbsp;
Meanwhile, MS Dhoni, who has been the brand ambassador for Mastercard for over four years now, said that he is thrilled to see Mastercard sponsoring all the BCCI home cricket matches, especially domestic, junior and women's cricket.&nbsp;

Indian cricket team's jersey sponsors Byju's reportedly owe the Board of Control for Cricket in India Rs 86.21 crores, a BCCI source told PTI after the BCCI's Apex Council Meeting.However, a spokesperson from the Edutech company has refuted the claim. Clarifying that there are no pending dues, the spokesperson said that the contract between BCCI and Byju's has been extended; it is yet to be signed though.He went on to further add that after the contract signed, payments will be released as per the contract.Byju’s came on board as jersey sponsors in 2019 and in April, the BCCI agreed on extending the partnership until the 2023 ODI World Cup at a 10% increment.Meanwhile, title sponsor Paytm requested the Indian cricket board to transfer home cricket title rights to a third party, reportedly Mastercard. Their current agreement runs from September 2019 to March 2023.Paytm, who were shelling out Rs 3.8 crores/match for the 4-year cycle had missed its timeline of extending their July deadline for reassignment of the sponsorship.

Byju’s owes Rs 86.21 crores to BCCI; Paytm wants out as title sponsors

Byju’s allegedly owes a hefty sum to BCCI! 

Paytm wants out as title sponsors. Click for all the details.

Byju&rsquo;s came on board as jersey sponsors in 2019 and in April, the BCCI agreed on extending the partnership until the 2023 ODI World Cup at a 10% increment.

Indian cricket team's jersey sponsors Byju's reportedly owe the Board of Control for Cricket in India Rs 86.21 crores, a BCCI source told PTI after the BCCI's Apex Council Meeting. However, a spokesperson from the Edutech company has refuted the claim. Clarifying that there are no pending dues, the spokesperson said that the contract between BCCI and Byju's has been extended; it is yet to be signed though. He went on to further add that after the contract signed, payments will be released as per the contract. Byju&rsquo;s came on board as jersey sponsors in 2019 and in April, the BCCI agreed on extending the partnership until the 2023 ODI World Cup at a 10% increment. Also Read <a href="https://www.editorji.com/sports-news/cricket/asia-cup-2022-shifted-to-uae-from-sri-lanka-bcci-president-sourav-ganguly-1658456940471">Asia Cup 2022 shifted to UAE from Sri Lanka: BCCI President Sourav Ganguly</a> Meanwhile, title sponsor Paytm requested the Indian cricket board to transfer home cricket title rights to a third party, reportedly Mastercard. Their current agreement runs from September 2019 to March 2023. Paytm, who were shelling out Rs 3.8 crores/match for the 4-year cycle had missed its timeline of extending their July deadline for reassignment of the sponsorship.

Get ready to replace your credit card with your face! Mastercard has rolled out a pilot program which brings biometric payments to retail outlets. Mastercard's Biometric Checkout Program would let a shopper scan their face using a retailer’s smartphone app and assign their likeness to a bank card stored on file. So  how does it work, you will need to sign up on Mastercard, you take a picture of your face or scan your fingerprint to register it with an app. This is done either on your smartphone or at a payment terminal. You can then add a credit card, which gets linked to your biometric data.In the long run, Mastercard’s vision is to make the tech “globally interoperable,” Ajay Bhalla, Mastercard’s president of cyber and intelligence said. “So once you’ve stored your credentials, you could use this anywhere.”The program has already gone live in Sao Paulo, Brazil and Mastercard says it plans to roll it out globally later this year.

Biometric payments are here! Mastercard lets you pay with your face

Biometric payments are here! Mastercard will soon let you pay with your face

Users can authenticate a payment by showing their face or the palm of their hand instead of swiping their card.

Get ready to replace your credit card with your face! Mastercard&nbsp;has rolled out a pilot program which brings biometric payments to retail outlets.&nbsp; Mastercard's Biometric Checkout Program would let a shopper scan their face using a retailer&rsquo;s smartphone app and assign their likeness to a bank card stored on file.&nbsp;
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/paytm-mall-99-5-valuation-decline-as-key-investors-alibaba-ant-group-exit-1652787134002" target="_blank">Paytm Mall: 99.5% valuation decline as key investors Alibaba, Ant Group exit</a> So&nbsp; how does it work, you will need to sign up on Mastercard, you take a picture of your face or scan your fingerprint to register it with an app. This is done either on your smartphone or at a payment terminal. You can then add a credit card, which gets linked to your biometric data. In the long run, Mastercard&rsquo;s vision is to make the tech &ldquo;globally interoperable&rdquo; Ajay&nbsp;Bhalla,&nbsp;Mastercard&rsquo;s&nbsp;President of Cyber and Business Intelligence&nbsp;said. &ldquo;So once you&rsquo;ve stored your credentials, you could use this anywhere.&rdquo;
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/bots-or-bills-what-is-really-giving-musk-second-thoughts-about-twitter-1652856259014">Bots or Bills, what is really giving Musk second thoughts about Twitter</a> The program has already gone live in Sao Paulo, Brazil and&nbsp;Mastercard says it plans to roll it out globally later this year.

In a major supervisory action, the Reserve Bank of India on Wednesday indefinitely barred the US-based Mastercard from issuing new credit, debit and prepaid cards with effect from July 22 for its failure to comply with data storage norms.
Mastercard, a major card issuing entity in the country, is the third company to have been barred by RBI from acquiring new customers after American Express Banking Corp and Diners Club International over data storage issue.
The RBI, however, clarified that its supervisory action will not impact the services of the existing customers of Mastercard in the country.
Mastercard is a payment system operator authorised to operate a card network in the country under the Payment and Settlement Systems Act, 2007.
In terms of RBI's circular on Storage of Payment System Data on April 6, 2018, all system providers were directed to ensure that within a period of six months the entire data relating to payment systems is stored only in India.
They were also required to report compliance to RBI and submit a board-approved System Audit Report conducted by a CERT-In empanelled auditor within specified timelines.

 RBI bars Mastercard from issuing new cards from July 22

Mastercard, a major card issuing entity in the country, is the third company to have been barred by RBI from acquiring new customers after American Express Banking Corp and Diners Club International over data storage issue.

RBI&nbsp;indefinitely bans Mastercard from adding new customers Ban over noncompliance with local data storage rules Mastercard, third card issuing company to be barred by RBI RBI&nbsp;asked all providers to store payment data only in India

Mastercard, a major card issuing entity in the country, is the third company to have been barred by RBI from acquiring new customers after American Express Banking Corp and Diners Club International over data storage issue.

In a major supervisory action, the Reserve Bank of India on Wednesday indefinitely barred the US-based Mastercard from issuing new credit, debit and prepaid cards with effect from July 22 for its failure to comply with data storage norms.
Mastercard, a major card issuing entity in the country, is the third company to have been barred by RBI from acquiring new customers after American Express Banking Corp and Diners Club International over data storage issue.
The RBI, however, clarified that its supervisory action will not impact the services of the existing customers of Mastercard in the country.
Also watch:&nbsp;<a href="https://www.editorji.com/story/rbi-governor-shaktikanta-das-rising-cyber-attacks-a-risk-to-economy-1625161337371" target="_blank">RBI Governor Shaktikanta Das: rising cyber attacks a risk to economy</a>
Mastercard is a payment system operator authorised to operate a card network in the country under the Payment and Settlement Systems Act, 2007.
In terms of RBI's circular on Storage of Payment System Data on April 6, 2018, all system providers were directed to ensure that within a period of six months the entire data relating to payment systems is stored only in India.
They were also required to report compliance to RBI and submit a board-approved System Audit Report conducted by a CERT-In empanelled auditor within specified timelines.

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