India Inc commits Rs 11.87 trn to AP

India Inc has pledged a whopping Rs 11.87 trillion (or $165 billion) for Andhra Pradesh (AP) in the next five years. The move comes as part of the state’s ambitious plans to develop the infrastructure and fuel growth. The announcement was made after a two-day Partnership Summit organised by the Andhra Pradesh government and industry body CII.

Top companies that have come forward to invest in the state include Adani Group, Reliance Industries, JSW Group, Mahindra Group, Future Group, and Aditya Birla Group, among others. The projects they plan to undertake span various sectors, such as cement, textiles, tourism, renewable energy, and agriculture, among others.

The investment commitment from India Inc is a major boost to AP, which is fast emerging as a hub for industries and manufacturing in India. The state has already attracted major investments in the automobile, electronics, and pharma sectors, among others. The latest pledge is expected to create lakhs of jobs and transform AP into a hub for innovation and development.

RBI fines Amazon Pay

The Reserve Bank of India (RBI) has imposed a fine of Rs 1.5 crore on Amazon Pay (India) Private Limited, the digital payments arm of e-commerce giant Amazon, for violating the country’s anti-money laundering norms. The RBI has found that Amazon Pay has failed to comply with the Know Your Customer (KYC) and anti-money laundering (AML) regulations, which are crucial to prevent financial fraud and terrorism financing.

The central bank has further directed Amazon Pay to take necessary corrective measures and ensure strict compliance with the regulatory requirements. The move comes after an inspection by the RBI’s Audit and Inspection Department found several lapses in Amazon Pay’s KYC and AML procedures.

This is not the first time that Amazon has faced a regulatory challenge in India. Last year, the Competition Commission of India (CCI) ordered an investigation into the company’s alleged misuse of its dominant market position in the e-commerce sector. A few months ago, the Department for Promotion of Industry and Internal Trade (DPIIT) proposed new rules for e-commerce firms, which could potentially impact Amazon’s business model in India.

The RBI’s latest move is expected to have a bearing on other digital payments companies as well, as it sends a clear message that regulatory compliance is non-negotiable. The digital payments industry in India is rapidly growing, with millions of people using digital wallets, UPI, and other modes of digital transactions. Ensuring the safety and security of such transactions is crucial to maintain consumers’ trust in the system.


India Inc’s massive investment pledge for AP and the RBI’s fine on Amazon Pay are two significant developments that have made headlines in recent days. While the former is expected to fuel growth and development and create jobs, the latter is a reminder that regulatory non-compliance can have serious consequences. As India’s economy continues to evolve and grow, it is essential that both businesses and regulators work together to ensure that the interests of consumers and the larger society are protected.