National News

Kotak Mahindra group sets up USD 400 mn fund to build office properties

New Delhi: Kotak Investment Advisors Ltd (KIAL) Tuesday announced a USD 400 million fund in partnership with DivyaSree Developers to build and acquire commercial office assets across the country. K

Read More

RBI seeks modification of NCLAT order in IL&FS case

New Delhi: The Reserve Bank of India has moved the National Company Law Appellate Tribunal (NCLAT) over the order passed regarding classification of debt of IL&FS group companies as NPA. A two-memb

Read More

Jet crisis escalates as govt steps in, pilots threaten to go on strike

New Delhi: The pilots of beleaguered Jet Airways on Tuesday threatened to stop flying from April 1 if their pending salaries are not cleared by March-end. In a statement, the National Aviators Guil

Read More

Airbnb May Invest $100 Mn – $200 Mn In OYO

US-based Airbnb maybe eyeing a deal with homegrown hospitality unicorn OYO to enter the hotel business, in India and China according to a media report. The news comes just weeks after Airbnb bought US

Read More

InstaReM Closes Series C With $60.6 Mn Funding For Global Expansion

Singapore-and Mumbai-based fintech company specialising on cross-border payments — InstaReM — has closed its Series C round with total funding of $60.6 Mn (INR 418 Cr) after raising $20 Mn (INR 137 Cr

Read More

Data Analytics Startup Tookitaki Raises $7.5 Mn In Series A Round

Singapore and Bengaluru-based enterprise software solutions provider Tookitaki has raised $7.5 Mn (INR 5.17 Cr) in Series A round which was led by London-based Illuminate Financial and Singapore-based

Read More

Cryptocurrency Exchange Aggregator CoinDCX Raises Seed Funding From Bain Capital Ventures

Mumbai-based cryptocurrency exchange aggregator CoinDCX has raised an undisclosed amount of funding in its seed round led by venture capital company Bain Capital Ventures. Other notable angel inves

Read More

Pine Labs Strengthens Gift Card Biz With $110 Mn Acquisition Of Qwikcilver

New Delhi-based online retail payments platform Pine Labs has signed a definitive agreement to acquire Bengaluru-based digital gift card firm Qwikcilver Solutions for $110 Mn, subject to closing condi

Read More

Rupee opens marginally higher against US dollar

Mumbai: The rupee edged 2 paise higher to 68.51 against the US dollar in early trade on Tuesday ahead of the Federal Reserve's policy meet. Besides the greenback's weakness against some currencies

Read More

Chatterjee Group receives USFDA approval for its Hyderabad based plant

Hyderabad: TCG Lifesciences, part of New York based The Chatterjee Group, promoted by Dr Purnendu Chatterjee, has today announced that it has received the USFDA approval for its chemical development

Read More

Hyundai, Kia invest USD 300 mn in Ola for EVs, smart mobility solutions

New Delhi: Korean automobile major Hyundai and its subsidiary Kia have together invested USD 300 million in ride-hailing company Ola to jointly develop electric vehicles ecosystem and fleet services f

Read More

RCom shares jump after Mukesh Ambani bails out brother Anil on Ericsson dues

Mumbai: Shares of Anil Ambani-led Reliance Communications Ltd (RCom) were locked in the upper circuit on Tuesday after his elder brother Mukesh Ambani helped pay off debt owed to Sweden’s Ericsson.

Read More

Google Pay Looks To Rope In Kirana Stores With Offline Payments Tech

According to January 2019 data, Google Pay after becoming one of the dominant players in the online payments space is now targeting the customers of smaller offline retailers, popularly known as kiran

Read More

Omnivore Leads $4.3 Mn Funding Round Of Agritech Startup DeHaat

Impact investor Omnivore has made a fresh bet in the agritech sector as it led a $4.3 Mn (INR 30 Cr) pre-series A round in Gurugram-based online marketplace for farm products and services, DeHaat.

Read More

Facebook Says Users In India Can Now Add Music To Their Instagram Stories

“Why can’t I add music to my Instagram story?”, was a common complaint that some India-based users of the picture and video sharing platform have had for some time now, lamenting the fact that (unlik

Read More

Acquisition of Chennai firm at centre of fraud investigation

Mumbai: Alleged fraud in the acquisition of a Chennai-based firm has come to haunt Frankfurt-listed Wirecard AG. The German payment processing firm’s shares have slumped almost 50 per cent on reports

Read More

Sensex rallies over 300 points, Nifty above 11,500 mark

Mumbai: Domestic equities continued their bull run on Monday with the BSE Sensex rising over 300 points and the Nifty reclaiming the 11,500 mark amid unabated foreign fund inflows and narrowing countr

Read More

Rupee appreciates 17 paise against US dollar

Mumbai: The rupee appreciated 17 paise to 68.93 against the US dollar in opening trade on Monday driven by weakening greenback in overseas markets and sustained foreign inflows. Besides, narrowing

Read More

Oil slips on economic slowdown, but OPEC-led cuts still support

Singapore: Oil prices dipped on Monday amid concerns that an economic downturn may dent fuel consumption, but crude markets remain broadly supported by supply cuts led by producer group OPEC and US sa

Read More

OYO Looks To Raise Fresh Funds Via Venture Debt Financing Route

Gurugram-headquartered hospitality chain OYO is reportedly looking to raise fresh funds via venture debt route to double down on its Townhouse property vertical in India in 2019. The company is in

Read More

Samsung Ties Up With IndusOs To Bring Vernacular Touch To Its Apps

In the booming Indian smartphone industry, Korean smartphone maker Samsung has been an undisputed king for a long time, but for the past few years, but in recent times Chinese smartphone maker Xiaomi

Read More

Movie Ticket Booking Sites Not Allowed To Charge Internet Handling Fees, Says RBI

With the weekend up on us, many are busy booking tickets to the latest Bollywood as well as Hollywood releases. Much of this will be done online. A service that online ticketing websites charge for, o

Read More

Cryptocurrency This Week: Mt. Gox Case Verdict, Gatecoin Closure And More

Good and bad are usually the two sides of the same coin. Bitcoin is no different. While the underlying technology is said to be the biggest invention since the internet, Bitcoin has also gone on to be

Read More

Sensex jumps over 150 points; Nifty nears 11,400

Sensex jumps over 150 pts; Nifty nears 11,400 Mumbai, Mar 14 (PTI) The BSE benchmark Sensex rose over 150 points Thursday led by gains in financial stocks amid unabated foreign fund inflow and posi

Read More

Google Paid $15 Mn To Ex-Employee Alleged Of Sexual Harassment: Report

On Monday (March 11), a Wall Street Journal report said that a shareholder lawsuit against the company revealed that Google agreed to pay a total of $135 Mn to Andy Rubin and Amit Singhal after they w

Read More

Bertelsmann India Leads $27 Mn Series C Funding In Pune-Based AgroStar

Pune-based agritech startup, AgroStar has raised $27 Mn (INR 188 Cr) Series C funding led by Bertelsmann India. Existing investors Accel Partners, Chirate Ventures (formerly IDG Ventures) and Aavishka

Read More

Faasos Kicks Off $100 Mn Mega Round With $16 Mn In First Tranche

Pune-based food maker and delivery app Faasos has raised INR 110.6 Cr ($15.9 Mn) from a bunch of its existing investors in its ongoing Series D round. According to the Ministry of Corporate Affairs

Read More

Enterprisetech Startup Whatfix Raises $13.2 Mn To Finance Headcount, Tech Expansion

Bengaluru-and San Jose-based enterprisetech startup — Whatfix — which helps in quicker and efficient adoption of any digital software, has raised $13.2 Mn (INR 92 Cr) Series B funding, as it plans to

Read More

Amazon-Backed Acko Raises Fresh $65 Mn In Series C From Binny Bansal, RPS Ventures, Others

Mumbai-based online-only insurance startup Acko has raised $65 Mn in Series C funding from a bunch of existing as well as new investors. After months of speculations, Flipkart cofounder Binny Bansa

Read More

RBI to infuse Rs 12,500 crore via OMOs on Thursday

Mumbai: The Reserve Bank of India (RBI) on Tuesday said it would infuse Rs 12,500 crore into the system through open market operations on Thursday. Based on an assessment of prevailing liquidity co

Read More

Rupee rises by 8 paise against dollar in early trade

Mumbai: The rupee appreciated by 8 paise to 69.63 against the US dollar in opening trade on Wednesday, driven by sustained foreign fund flows and higher opening in domestic equity market. The rupee

Read More

Post FDI In Ecommerce Guidelines, Amazon India’s Global Store Shrinks

In another aftereffect of the foreign direct investment in the ecommerce policy, Amazon’s Global Store is reportedly losing its virtual presence in India after it witnessed a sharp fall in the items l

Read More

Agritech Startup Aibono Raises $2.5 Mn In Pre-Series A Funding Round

Bengaluru-based agricultural service provider Aibono has raised $2.5 Mn (INR 17.4 Cr) in Pre-Series A funding round which was led by impact fund Menterra Venture Advisors. Other investors such as S

Read More

OYO Announces $200 Mn Gameplan For India And South Asia

Hospitality unicorn OYO has announced a commitment of INR 1,400 Cr ($200 Mn) for its India and South Asia business in order to double down on its expansion plans, and improve its back-end technology.

Read More

Quikr Denies Talks Of Acquiring Used-Goods Marketplace Zefo

Online classifieds marketplace, Quikr is reportedly in talks to acquire Gurugram-based used goods marketplace Zefo, for approximately $28.5 Mn (INR 200 Cr.) in an all stock deal. Following the acqu

Read More

Govt Raises Customs Duty On EV Parts To Encourage Domestic Production

In a bid to encourage the automobile manufacturers to produce electric vehicles within India, the central government is planning for raising customs duty on import of electric vehicle parts and batter

Read More

Jet Airways denies report of new USD 293 million loan from PNB

New Delhi: Debt-laden Jet Airways Ltd denied a media report on Monday that it had secured a 20.50 billion rupee (USD 293 million) loan from state-owned Punjab National Bank (PNB) to help pay overdue p

Read More

NCLAT pulls up RCom lenders over Rs 37,000 cr asset sale 'golden outlook'

New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Monday pulled up SBI, the lead lender of debt-ridden Reliance Communications, along with others for giving a 'false impression' to mon

Read More

Rupee furthers gains by 25 paise in early trade

Mumbai: The rupee strengthened its gains by 25 paise to 69.64 against the US dollar in early trade on Tuesday, driven by sustained foreign fund inflows and weaker greenback against key rival currencie

Read More

Sensex soars over 300 points, Nifty above 11,250

Mumbai: The BSE benchmark Sensex on Tuesday jumped over 300 points led by gains in metal, oil and gas, banking and energy stocks amid unabated buying by foreign investors and strong global cues. Ke

Read More

SoftBank To Set Up A $500 Mn Fund Specifically For Early Stage Companies

In the startup world, Japanese conglomerate SoftBank has been an investor with midas touch, turning several of its investments into industry at billion dollar valuations. Beyond the large cheques it h

Read More

PayU Eyes Dominance In Payments Sector With Plans To Acquire Wibmo

Naspers-owned fintech company PayU is looking to dominate the entire payments process as it is in talks to acquire Bengaluru and Cupertino-based Wibmo that specialises in processing online payments.

Read More

Ebix Eyes Online Travel Market, Offers $336 Mn Acquisition Deal To Yatra

US-based software company Ebix has offered an acquisition deal to Gurugram-based travel and ticket booking platform Yatra Online for $336 Mn (INR 2,342 Cr) in a cash-and-stock deal. In a letter sen

Read More

What Facebook’s ‘privacy vision’ really means

Mark Zuckerberg’s abrupt Wednesday declaration of a new ”privacy vision ” for social networking was for many people a sort of Rorschach test. Looked at one way, the manifesto read as an apology of

Read More

US, allies not to procure Huawei equipment for national security telecom systems

The US and its allies have decided not to procure Huawei equipment for national security related telecommunication system, National Security Advisor John Bolton said Sunday as the Chinese telecom gian

Read More

RBI says no data on demonetised 500, 1,000 notes used at petrol pumps

New Delhi: The RBI in reply to an RTI query said it has no data on the old 500 and 1,000 rupee notes used to pay for utility bills such as fuel at petrol pumps, which are believed to have formed a goo

Read More

India seeks Saudi investment in strategic oil storage, rescue plan for refinery

New Delhi: India has invited Saudi Arabia to invest in its strategic oil storage even as it looks to resurrect a USD 44 billion (Rs 3.08 lakh crore) refinery project with the world's largest oil produ

Read More

Nifty faces strong resistance

Mumbai: The market may enter into a consolidation mode even as the investors closely monitor the Fed stand on interest and global fund flows into the domestic market. Analysts are seeing the Nifty to

Read More

IRDAI issues norms on conflict of interest

Chennai: If a conflict of interest arises when insurance companies have common directors, they should not be allowed to participate in the day-today activities of the company, proposes IRDAI. IRDAI

Read More

Carlos Ghosn seeks to attend Nissan board meeting

Tokyo: Former Nissan chief Carlos Ghosn is seeking court permission to attend a board meeting at the Japanese automaker while out on bail, his lawyer told reporters Monday. "(Ghosn) has a duty to att

Read More

Deal Digest: Delhivery leads the way as startups raise $587M this week

A whopping amount of $587.18 million was infused into the Indian startup ecosystem this week. Of this, $568 million went into five companies. Here is a weekly wrap of the top five deals that garnered

Read More

MSME lender Aye Finance raises fresh funding of Rs 234 cr

New Delhi: MSME lender Aye Finance on Friday said it has raised Rs 233.62 crore from various investors, led by US-based investment firm Falcon Edge Capital. Existing investors CapitalG, LGT and MAJ

Read More

Azim Premji Trust sells over 2.66 cr Wipro shares on BSE

New Delhi: IT major Wipro on Friday said one of its promoters, Azim Premji Trust, has sold 2.66 crore shares of the company in a block deal on the BSE. The company, however, did not disclose further

Read More

Ola, Hyundai in talks for USD 300 million fund infusion

New Delhi: Ola is in talks with Hyundai Motor Company for investing about USD 300 million in the cab-hailing platform, according to sources. The discussions are at an advanced stage and a deal coul

Read More

Intermediaries Save The Day For Flipkart Under New FDI Ecommerce Rules

Following the changes notified by the government in the FDI policy for ecommerce, the Walmart-owned ecommerce company Flipkart has been examining its plans to comply with the new rules. Notified on

Read More

Cred Is Testing UPI Payments To Make Credit Card Payments: Kunal Shah

Three months old fintech startup — Cred — is currently testing United Payment Integration (UPI)-based digital mode of payments to allow its users to pay their credit card bills, Cred’s founder, Kunal

Read More

Indian NBFC Aye Finance raises $33.34 Mn In Series D Funding

Non-banking financial company Aye Finance said it has raised $33.34 Mn (INR 233.62 Cr) in Series D equity round led by New York-based investment firm Falcon Edge Capital. Existing investors CapitalG,

Read More

Will $20 Mn Give Dunzo The Edge To Challenge New Rival Swiggy?

Bengaluru-based hyperlocal startup Dunzo is looking to close a $15 Mn-$20 Mn funding round as the company sees Naspers-backed foodtech unicorn Swiggy showing interest in its space. A media report c

Read More

NPCI issues 64 million RuPay cards, aims to grow international acceptance

Mumbai: National Payments Corporation of India (NPCI) Thursday said it has issued over 64 million RuPay global cards, since 2014 and is focusing on growing its international acceptance. RuPay card net

Read More

Rupee opens 18 paise lower against US dollar

Mumbai: The rupee opened 18 paise lower at 70.18 against the US dollar on Friday on increased demand for the greenback from importers and banks amid lower opening of domestic equities. Forex dealers

Read More

Sensex, Nifty turn negative on weak global cues

Mumbai: The BSE benchmark Sensex on Friday started on a negative note tracking weak cues from other Asian markets amid heavy selling by domestic institutional investors and depreciating rupee. After

Read More

Hyundai In Talks To Invest In Ola To Support Its Electric Vehicle Foray: Report

South-Korean automaker Hyundai Motors is reportedly in talks with Bengaluru-based cab hailing giant Ola to invest up to $200 Mn – $300 Mn (INR 1400 Cr- 2100 Cr). Citing unnamed sources, an Entrackr r

Read More

India Loses $18.5 Bn Due To Illegal Business Done Over Darknet: Report

While India continues to expand its digitisation initiatives, the country has also been experiencing the curse of the digital boom. India has lost $18.5 Bn in 2017 due to business done on the digital

Read More

Sensex, Nifty extend rally to fourth day

Mumbai: Indian bourses continued their rising spree to the fourth session on Thursday, with both benchmarks Sensex and Nifty opening higher amid strengthening of country's macroeconomic outlook follow

Read More

RIL receives Sebi comments for DEN, Hathway open offers

New Delhi: Reliance Industries Wednesday said it has received final comments from market regulator Sebi for its proposed open offers to shareholders of Den Networks Limited and Hathway Cable and Datac

Read More

Rupee surges 30 paise against US dollar in early trade

Mumbai: The rupee appreciated by 30 paise to 69.98 against the US dollar in opening trade on Thursday, driven by foreign inflows and positive opening in domestic equities. The rupee opened strong at

Read More

Bharti Airtel promoters, GIC to subscribe half of Rs 32,000 rights issue

New Delhi: Promoters of Bharti Airtel along with Singapore government's investment arm GIC Private Ltd will subscribe to over half of the proposed Rs 32,000 crore rights issue in a bid to infuse funds

Read More

DPIIT Senior Exec Says Will Extend Public Discussion On Draft Ecommerce Policy

With three days left for industry stakeholders to share their inputs on the draft ecommerce policy, the companies may get the requisite time to share their inputs/feedback till March 31. An Inc42 sou

Read More

Blockchain This Week: SEBI’s ‘Regulatory Sandbox For Crypto’, Kerala Invites Blockchain Startups And More

Goepfer was speaking at the sidelines of a report published by the provider of market intelligence and advisory services, IDC, which estimates that businesses utilising the trust-enhancing features of

Read More

SoftBank fulfils its $350M promise made to Delhivery

SoftBank has completed its investment in logistics major Delhivery, having put in about $350 million into the Gurgaon-based company, in the process catapulting it into India's growing list of startups

Read More

Airtel, Zoom join hands for unified communications solution for businesses

New Delhi: Telecom operator Bharti Airtel has collaborated with Zoom Video Communications to launch unified communications solution for businesses. The collaboration aims to offer businesses "enhance

Read More

Sensex gains 157 points, Nifty above 11,000

Mumbai: Indian bourses furthered gains in early trade on Wednesday, with benchmark indices Sensex and Nifty adding 157 points and 53 points, respectively, on sustained buying mainly in stocks of finan

Read More

Rupee slips 11 paise against dollar in opening trade

Mumbai: The rupee depreciated 11 paise to 70.60 against the US dollar in opening trade on Wednesday on increased demand for the greenback from importers and banks. Forex dealers said, strengthening o

Read More

Audi A6 Lifestyle Edition launched at Rs 49.99 lakh

Audi has launched the A6 Lifestyle Edition in India priced at Rs 49.99 lakh (ex-showroom pan-India). That makes it Rs 5.89 lakh less than the A6 35TFSI Technology, which is priced at Rs 55.88 lakh (ex

Read More

Paytm Launches Loyalty Program To Take On Amazon Prime, Flipkart Plus

Mobile payments company Paytm has launched subscription-based rewards and loyalty program, called Paytm First, bringing on board subscription plan of popular apps in one place, as it gears to compete

Read More

Govt Scraps Policy Which Subsidises EVs And Taxes Polluting Vehicles

The Indian electric vehicle sector continues to be covered in clouds as the central government has reportedly put a hold on its INR 7,500 Cr worth “Feebate” plan which was being considered in a bid to

Read More

Is ShareChat Raising A $200 Mn Fund To Fight Off Chinese Rivals TikTok And Helo?

Bengaluru-based vernacular social and content platform ShareChat is looking to survive the battle in the social media space in India, which it largely dominated for the past few years, however, it is

Read More

Sensex slips over 50 points in early trade on weak global cues

Mumbai: Equities benchmark Sensex edged lower by over 50 points in early trade on Tuesday, tracking weak global cues amid caution on the US-China trade talks front and concerns over slowing Chinese ec

Read More

ICICI Bank buys 9.9 per cent in NBFC Kisan Finance for Rs 18 crore

New Delhi: ICICI Bank on Monday said it has acquired 9.9 per cent stake in non-banking finance company Kisan Finance for cash consideration of Rs 17.82 crore. The bank said it will buy 1.49 crore sha

Read More

IndiGo announces 3-day Holi sale across domestic, international network

New Delhi: IndiGo airlines on Tuesday announced a three-day special Holi sale across its domestic and international network for travel between March 19 and September 28. "Effective March 05, 2019 t

Read More

Flipkart Increases Commission Charges For Apparel Sellers

Walmart-owned Flipkart has reportedly increased the commission charges from the vendors working in the apparel category. Effective from March 1, the ecommerce company had notified the sellers that the

Read More

Reliance Buys Logistics Startup Grab For $14.9 Mn To Power Ecommerce Ambitions

In the days following reports of Reliance in talks to acquire logistics startup Grab, the acquisition became official on Saturday (March 2). In a BSE filing, the Mukesh Ambani-led Reliance Industri

Read More

LensKart Invests $10 Mn With An Eye On Underserved Contact Lens Market

Faridabad-based optics solution provider LensKart has allocated $10 Mn towards building its contact lenses business, especially to fuel its product innovation, backend integration and enabling trials.

Read More

Mumbai-Based Payments Startup PayMate Gets International Visa For 92 Countries

Mumbai-headquartered B2B digital payments provider PayMate has partnered with global payments enabler Visa to expand its presence to 92 countries of Central and Eastern Europe, Middle East and Africa

Read More

India Hesitant To Join WTO Negotiations To Chalk Out Ecommerce Policies

India has reportedly told the World Trade Organisation (WTO) during a delegations meeting that it will not join the negotiations to develop trade rules on ecommerce, arguing that it is an idea whose t

Read More

Jet Airways founder Naresh Goyal pins hope on banks to bailout airline

Crisis-ridden Jet Airways Friday said in a regulatory filing that its debt recast plan also contemplates appropriate governance structure including board composition, among other measures. The fili

Read More

SBI confirms account frauds totalling Rs 79.51 billion

State Bank of India (SBI) confirmed on Friday it had reported fraud totalling Rs 79.51 billion ($1.12 billion) during the first nine months of this financial year. Indian media reported this week,

Read More

DLF's sales bookings to jump over two-fold to Rs 2,400 cr this fiscal

New Delhi: Realty major DLF's sales bookings are likely to jump more than two-fold to around Rs 2,400 crore this fiscal year on rising demand of completed housing units. DLF, the country's largest

Read More

VC Fund A91 Partners May Secure $25 Mn From IFC

US-based private equity and venture capital International Finance Corporation (IFC) is looking to invest around $25 Mn (INR 177 Cr) in Bengaluru-based venture capital fund A91 Partners, according to a

Read More

Zomato Makes Its Top Exec A Cofounder, In Talks To Raise $62.5 Mn

In a rare occasion in India’s startup industry, Zomato has given its chief operating officer (COO) Gaurav Gupta a title of the ‘cofounder’. The company didn’t share details but sources close to the ma

Read More

Bharti Airtel board approves Rs 32,000 crore fund raising plans via right issue, bond

New Delhi: Telecom operator Bharti Airtel on Thursday said its Board has approved fund raising plans of up to Rs 32,000 crore through a mix of rights issue and bond, a move that will arm the company w

Read More

Audi mulls importing Q2 model for Indian market

Hyderabad: With the current norms allowing carmakers to import up to 2,500 homologation-free (drive-worthiness certificate) vehicles in India, Audi India is considering importing the Q2 model under th

Read More

Rupee slips 14 paise against US dollar in early trade

Mumbai: The rupee depreciated by 14 paise to 70.86 against the US dollar in early trade on Friday on increased demand for the US currency from importers and foreign fund outflows. Besides, strength

Read More

Sensex soars 265 points as new F&O series opens strong

Mumbai: The BSE benchmark Sensex rallied about 265 points to 36,132 in early session on Friday as the March derivatives series took off on a strong footing and foreign fund inflows fuelled the uptrend

Read More

Vedanta says it loses 50 million rupees daily due to smelter shutdown

New Delhi: Vedanta Ltd told an Indian court it has been incurring losses of 50 million rupees (USD 705,656) daily ever since the permanent closure of its copper smelter in May after violent protests a

Read More

GDP growth in Q3 of 2018-19 pegged at 6.6 per cent

New Delhi: The economic growth of india slowed to a low of 6.6 per cent in October to December period of current fiscal year 2018-19, according to government data released on Thursday. The Gross Do

Read More

With Logistics Startup Grab, Is Reliance Getting Ready For Ecommerce War?

With a new focus set on India’s ecommerce market worth $200 Bn in 2019, Mukesh Ambani-led Reliance Industries is continuing to build its arsenal of etailer-related services by acquiring promising play

Read More

Rupee recovers 6 paise against USD in early trade

Mumbai: The rupee strengthened by 6 paise to 71.01 against the US dollar in early trade on Wednesday at the interbank forex market on some selling of the greenback by exporters and banks amid sustaine

Read More

Pine Labs In Talks To Buy Gift Card Provider Qwikcilver For $100 Mn: Report

New Delhi-based online retail payments platform Pine Labs is reportedly in talks to acquire Bengaluru’s digital gift card firm Qwikcilver Solutions, as the former looks to creating a strong footing in

Read More

Flipkart Losses Increased Fivefold, Records 50% Jump in Revenue in FY18

Flipkart, which was acquired by Walmart in August 2018, has reported a 50% growth in its revenue for the year ending March 2018. According to data intelligence platform Paper.vc which has cited the

Read More

InMobi To Invest $100 Mn In Trufactor, Hints At Another Acquisition Soon

Bengaluru-based mobile advertising and marketing platform InMobi has announced to invest $100 Mn in the data management platform — Trufactor — over the period of three years, as it looks to enable tel

Read More

Sachin Bansal’s BAC Makes Its First Two Investments Worth $70 Mn

In the week following reports that Flipkart cofounder Sachin Bansal may explore setting up a bank, Bansal has made his first two investments in Non-Banking Financial Companies (NBFCs) — Altico Capital

Read More

Indian Fleet Operators Reluctant To Pay More For Electric Vehicles: Maruti Suzuki

India’s aim to bring about an emobility revolution seems like a far fetched dream judging from the current situation. From the lack of clear electric vehicle policy to the absence of charging infrastr

Read More

Walmart India Starts UPI Payments For Its Kirana Members Via PhonePe

Kirana shop owners registered with Walmart India’s best price stores will now be able to pay for their purchases using Unified Payment Interface (UPI) mode of digital payments via PhonePe app on their

Read More

Chennai-Born Ex-PepsiCo CEO Indra Nooyi Joins Amazon’s Board

India-born Indra Nooyi on Monday (February 25 ) joined the Amazon’s board of directors, after her 12 years of stint leading the food, snack and beverage company, PepsiCo, as a chief executive officer.

Read More

HPCL shares decline 3 pc; Britannia up over 1 pc on NSE rejig

New Delhi: Shares of Hindustan Petroleum Corporation fell by nearly 3 per cent on Tuesday after NSE said Britannia Industries will replace the oil marketing company in the Nifty50 index from March 29.

Read More

Oil dips after Trump calls on OPEC to ease high prices

Singapore: Oil prices slipped on Tuesday, extending losses of more than 3 per cent during the previous session, after US President Donald Trump called on OPEC to ease its efforts to boost the market.

Read More

RBI proposes new compensation norms for top officials of private, foreign banks

Mumbai: The RBI on Monday proposed that at least 50 per cent of compensation of senior officials of private and foreign banks, including whole time directors and chief executive officers, "should be v

Read More

Sensex topples 350 points; Nifty below 10,800

Mumbai: The benchmark BSE Sensex fell over 350 points in early trade on Tuesday amid rising tension between India and Pakistan, weak Asian cues and selling pressure on banking, power, IT and power cou

Read More

Supreme Court Gives Centre 4 Weeks To Bring In Cryptocurrency Policy

The Supreme Court of India, today, refused to hear any party pertaining to the long-pending cryptocurrency cases in the country. The court has also directed the Union of India to come up with a crypt

Read More

Draft Ecommerce Policy: India Should Do What Is Right For Entrepreneurs, Says Alibaba

China-based ecommerce giant Alibaba has welcomed the Indian draft ecommerce policy adding that the company continues to consider the country as its “strategic market” for its globalisation vision.

Read More

OYO Silently Adds A New Vertical To Its Hospitality Empire

OYO — India’s hospitality posterchild — has been going from strength-to-strength with its international forays, the latest one being Japan, and Saudi Arabia, which were announced last week. Close o

Read More

WaterBridge Invests In A Startup That Is Building A Robot That Can Cook Food

WaterBridge Ventures has invested an undisclosed pre-Series A funding in a Bengaluru-based internet of things (IoT)-and hardware-driven startup, Nymble Labs, to help the latter to complete the develop

Read More

FPIs sell blue-chips, take away Rs 30K crore

Mumbai: Foreign funds creamed off over Rs 30,000 crore ($4.3 billion) by selling blue-chip stocks like Reliance Industries, ICICI Bank, Axis Bank, TCS, SBI and Sun Pharma during the December quarter.

Read More

Oil prices firm on hopes for US, China trade deal

Sydney: Oil prices rose on Monday as Washington and China appeared to edge closer to a trade deal, dampening fears over the outlook for global economic growth. International Brent crude oil futures

Read More

Sensex jumps over 100 points, Nifty above 10,800 level

Mumbai: Stocks staged a strong comeback in early trade on Monday, with the BSE Sensex reclaiming the 36,000-mark by surging over 100 points on heavy foreign fund inflows and increased buying by domest

Read More

China's Xiaomi unveils USD 680 5G smartphone, sees growth in Africa

China’s Xiaomi has launched its contribution to a new wave of smartphones that will be able to take advantage of faster 5G mobile networks at a lower price than analysts expect from rivals such as Sam

Read More

Zomato Delists 5K FSSAI Non-Complaint Restaurants

Foodtech unicorn Zomato has delisted over 5,000 restaurants which were not compliant with standards set by national food regulator Food Safety and Standards Authority of India (FSSAI). According to th

Read More

With Low Prices, In-House Content ALTBalaji Joins Netflix, Amazon Prime At OTT Big Table

AltBalaji, the streaming platform owned by Ekta Kapoor’s Balaji Telefilms, said its monthly active user base has doubled to 4.6 Mn from 2.3 Mn in the third quarter from a year ago and that the app has

Read More

Airbnb Says India Fastest Emerging Market, Launches ‘Plus Homes’

The US-based multinational hospitality company Airbnb has announced the launch of ‘Plus Homes’ in India, featuring homes that have a high rating. Airbnb’s Plus Homes is currently available across 41 g

Read More

Mahindra launches e-mobility service in Mumbai

M&M has partnered with Vodafone-Idea, Cisco Systems and other service and content providers for the initiative in Mumbai. New Delhi: Auto major Mahindra & Mahindra (M&M) on Monday said it has launc

Read More

Anil Ambani firm gets an earful from Bombay HC

On February 4, Reliance received a notice from Edelweiss notifying about the sale of its shares by the debenture holding companies. Mumbai: The Bombay High Court has rapped the Anil Ambani group co

Read More

NTPC pays Rs 2,952-crore interim dividend

The dividend is 35.8 per cent of the paid-up equity share capital of the company, NPTC said in a statement. New Delhi: NTPC Ltd, the country's largest electricity generator, on Friday said it has p

Read More

Uber Eats close to selling Indian food delivery business to Swiggy: report

Uber was considering the sale of its food delivery arm in India and has been in talks with Swiggy and Gurugram-based Zomato. Uber Eats, the food delivery arm of ride-hailing app Uber Technologies I

Read More

Sensex ends marginally lower; bank stocks fall

The 30-share Sensex settled 26.87 points, or 0.07 per cent lower at 35,871.48. Mumbai: The BSE Sensex ended marginally lower on Friday on losses in banking stocks as investors turned cautious after

Read More

ZestMoney Paves Way for 200,000 Merchants to Offer EMI to their Customers

ZestMoney, India’s largest and fastest growing consumer lending technology announced its partnership with Razorpay, Billdesk and Cashfree. ZestMoney, India’s largest and fastest growing consumer le

Read More

Debt-to-GDP level touches record high

Debt intensity stood at 1.1 times in FY18–exactly the average of the highest and lowest levels over the past 15 years, the report said. Mumbai: India’s debt-to-GDP ratio has touched 150 per cent, t

Read More

Bajaj Finance Fixed Deposit (FD) offers 9.10 per cent return to senior citizens

This will serve as an essential corpus building time for investors, especially senior citizens. Pune: Interest rates have moved upwards in 2018 and are expected to peak in 2019. This will serve as

Read More

MobiKwik offers instant life insurance for Rs 20 on its App

This is the second big announcement by MobiKwik in the digital insurance space, New Delhi: MobiKwik, India’s largest digital financial services platform, today announced the launch of digital life in

Read More

Grofers narrowed losses to Rs 258.3 crore in FY18

The company had posted a net loss of Rs 268.3 crore for the year ended March 2017. New Delhi: SoftBank-backed Grofers has narrowed its standalone losses to Rs 258.3 crore in the financial year 2017-1

Read More

Being to partner with HAL, Mahindra for manufacturing F/A-18 Super Hornet fighters

The partnership with HAL and Mahindra will create jobs, industrial capacity, and a globally competitive Indian supply chain: Velagapudi. Bengaluru: Aerospace major Boeing on Thursday announced a pu

Read More

India needs to spur growth amid low inflation outlook: RBI's MPC

RBI has lowered its inflation target for April-September to 3.2-3.4 per cent from the 3.8-4.2 per cent seen in Dec. Mumbai: India needs to take steps to boost economic growth as the inflation outlo

Read More

R-Com approaches lenders to pay Ericsson after Supreme Court order

Reliance Communications on Thursday sought urgent approval from its lenders to release about Rs 260 crore received from income tax refunds and lying in its bank account directly to Ericsson. The de

Read More

Rupee weakens against US dollar

Indian rupee weakened against US dollar on Friday amid renewed concerns over global growth. Traders also await for more developments on the US-China trade talks. At 9.08 am, the home currency was t

Read More

Reliance Group stocks surge for second session after Reliance Capital invites Nippon Life to buy 42.88% stake in its MF business

Reliance Group stocks surge for second session after Reliance Capital invites Nippon Life to buy 42.88% stake in its MF business While Reliance Nippon Life Asset Management opened 3.5 percent higher

Read More

Shares of Kotak Mahindra Bank Dip Over 3% On Block Deals

Shares of Kotak Mahindra Bank fell over 3 percent in trade on Friday morning after 5.87 crore shares (i.e. 3 percent of its stake) exchanged hands in six block deals as per a Bloomberg report. The

Read More

Coal India gets Sebi exemption for share buy back programme

Coal India had filed an application on February 12 with sebi seeking exemption from the strict enforcement of the buyback norms. Markets regulator Sebi on Wednesday exempted state-owned Coal India fr

Read More

Gold prices fall by Rs 210 on muted demand

Gold is trading at Rs 34,470 per 10 gram in the national capital due to tepid demand from jewellers. Gold prices on Wednesday dropped by Rs 210 to Rs 34,470 per 10 gram at the bullion market in the

Read More

Rupee rises 9 paise to 71.02 vs US dollar

At the Interbank Foreign Exchange (forex) market, the domestic unit opened slightly higher at 71.06 and built on the gains to reach 71.02. The rupee darted up 9 paise to 71.02 against the US dollar

Read More

Sensex, Nifty start on a positive note; bank stocks jump

The 30-share index was trading 8.47 points, or 0.02 per cent, at 35,764.73. Benchmark indices started on a positive note on Thursday tracking gains on banking counters, after the government announc

Read More

Debt-laden Jet Airways edges closer to safety

The airline has also seen its share price suffer as it navigated through several negotiations with its lenders and shareholders. India’s Jet Airways Ltd, after several attempts at finding help to s

Read More

State-run banks jump after government announces fund infusion

The government had in October 2017 said it would infuse a total 2.11 trillion rupees into state-run lenders over two years. Shares of India’s state-run banks jumped on Thursday, a day after the gov

Read More

Govt relaxation in startup norms to encourage investments:CII

Confederation of Indian Industry on Tuesday said measures announced by the government to promote startups will encourage investments and boost morale of angel investors. "By raising the period for

Read More

Rupee edges higher against US dollar

The Indian rupee on Wednesday strengthened against the US dollar, tracking gains in other Asian currencies versus the greenback. At 09:08 am, the rupee was trading at 71.30 a dollar, up 0.07% from its

Read More

Banks stare at a massive Rs 30,000 crore loan write-off: Why IL&FS is yet to meet its Vijay Mallya moment

A report has said that banks are staring at a distinct possibility of having to write off a massive amount owed by a single entity or group---Rs 30,000 crore to IL&FS and its byzantine maze of subsidi

Read More

Ford EcoSport Titanium, Titanium Variants Get New Instrument Cluster

The new instrument cluster was first introduced on the EcoSport S, which debuted in May 2018. he updated instrument cluster gets bigger MID and chrome rings for both speedometer and tachometer. Pr

Read More

Dassault Aviation reinforces Falcon presence in Indian market

The Dassault Aviation Falcon 2000S, recently certified by EASA and the FAA for low visibility approaches down to 100 feet. The Dassault Aviation Falcon 2000S, recently certified by EASA and the FAA

Read More

Govt assures of positive steps on BSNL union's demands

A comprehensive proposal for revival of BSNL has been prepared, which will be taken up for consideration by competent authorities very soon. The government on Sunday said "positive steps" are being

Read More

Morgan Stanley arm snaps majority stake in KSH Infra for Rs 350 cr

This is the maiden investment by the Morgan Stanley Real Estate Investing (MSREI) in the country's warehousing space.Morgan Stanley's realty investing arm has infused Rs 350 crore into Pune-based ware

Read More

Videocon posts Rs 1,023 cr loss in Q3

Videocon had reported a net loss of Rs 1,314.96 crore in the year ago period. Debt-ridden Videocon Industries on Thursday reported a net loss of Rs 1,023.08 crore for the third quarter of the curre

Read More

Top 12 Reasons Why Startups Fail And How To Avoid Them

From Market Problems To Running Out Of Cash, Here Are A Few Methods To Avoid Failure of A Startup. Starting up is hard, and the fact that 90% of them fail within initial three years makes it look e

Read More

IndiaMART Launches Buyer & Seller Protection Programme, Forays Into Fintech

Online marketplace IndiaMART has forayed into the payments space to enable the over 3 Mn sellers on its platform. The company has launched its buyer and seller protection programme to address the bott

Read More

Paytm Pledges All Assets To ICICI Bank To Borrow INR 1,400 Cr

The deal was reportedly finalised last month Company’s goal to grow 50% to double the GMV to $2 Bn by the FY ending March 2019 Paytm recorded 221 Mn transactions in January 2019 One97 Communi

Read More

Jet Airways board approves rescue deal, banks to get over 50% stake in bailout plan

The board of struggling Jet Airways Ltd, which recently defaulted on debt repayment, has agreed to give lenders the majority stake of 50.1 per cent by converting part of its debt into equity as part o

Read More

Central trade unions extend support to 3-day strike by BSNL staff

The ten central trade unions that extended their support to the proposed strike included INTUC, AITUC, HMS, and CITU amongst others. Central trade unions on Wednesday said they will extend support

Read More

Nearly 400 stocks hit 52-wk lows

Khadim India, another company listed in 2017, touched an yearly low of Rs 370.05 against its yearly high price of Rs 862. A record number of 395 stocks, mostly from the mid-cap and small-cap categor

Read More

Fortis posts Rs 180 cr loss for Oct-Dec quarter

The company had posted a net loss of Rs 19.10 crore for the corresponding period of the previous fiscal. Fortis Healthcare on Wednesday reported a consolidated net loss of Rs 180.11 crore for the q

Read More

Yes Bank shares zoom 30 per cent; m-cap rises by Rs 8,590 crore

The shares after opening the day on a positive note further skyrocketed 28.95 per cent to Rs 218 on BSE. Shares of Yes Bank zoomed 30 per cent in morning trade on Thursday after the company said th

Read More

Share Market Live: Sensex down 120 points, Nifty below 10,800; Yes Bank shares zoom 25%

Track Live Share Market: The stock markets- Sensex and Nifty opened lower on Thursday morning, tracking weak global cues. The Sensex is down 94 points to 35,939.73 while the Nifty is trading below the

Read More

Tiger Global Participates In Expense Management Startup Fyle’s $4 Mn Series A Round

Tiger Global invested over $3 Mn in Fyle’s Series A round Beenext and Pravega ventures participated in the round The company raised Pre-Series A funding between August-November 2018 Bengaluru

Read More

Zomato Rolls Out Delivery On Bicycles In 12 Cities

Zomato has partnered with Mobycy, e-HIRAN, TNT, Yulu and Zoomcar’s PEDL Co’s bicycle-delivery fleet is claimed to grow by 150 delivery partners every day Zomato aims to convert 40% of the fleet

Read More

An Introduction to the Indian Stock Market

Mark Twain once divided the world into two kinds of people: those who have seen the famous Indian monument, the Taj Mahal, and those who haven't. The same could be said about investors. There are two

Read More

New FDI e-commerce rules in India: What it means for online shoppers

ew Foreign Direct Investment (FDI) rules in e-commerce, intended at providing a level-playing field to Indian brick-and-mortar or physical stores, came into effect since February 1. The new policy

Read More

India to continue growing at fastest pace; could be second-largest economy by 2030: PM

Prime Minister Narendra Modi exuded confidence on Monday that India would continue to be the fastest-growing large economy, and could be the second-largest economy in the world by 2030. "Leading ag

Read More

Tata Motors Rating – ‘Buy’: Cost saving in standalone businesses beat estimates; headwinds in JLR business mar results

Tata Motors reported consolidated adjusted net loss of Rs 19.3 billion in Q3FY19, led by loss in its JLR business due to tough market conditions. Standalone business performance beat expectations aide

Read More

Philips to enter oral care market

Hyderabad: Consumer goods major Philips India is set to expand its oral healthcare portfolio in the country, a top company official said. Speaking to this correspondent, ADA Ratnam, president-perso

Read More

Rupee gains 9 paise against dollar in early trade

Mumbai: Rising for the fifth straight day, the rupee firmed up by another 9 paise to 71.22 against the dollar in opening trade Monday on increased selling of the American currency by exporters amid fo

Read More

OYO Denies Talks To Acquire Keys Hotels In India

Homegrown OYO Hotels and Homes has said that it is not in talks with Los Angeles-based venture capital firm Berggruen Holdings to acquire their company Keys Hotels in India as was earlier reported.

Read More

Tesla To Sell Merchandise On Amazon, Facebook Acquires AI Startup Grokstyle: News From Tech And Startup World

Last week, Amazon CEO Jeff Bezos made it to the headlines after he accused American Media Inc. publication The National Enquirer and its publisher David Pecker of extortion and blackmail. The accus

Read More

Cryptocurrency This Week: Jack Dorsey Passes Lightning Torch, Terror Group Hamas Announces Crypto Crowdfunding, And More

Touted to resolve the scalability issue of Bitcoin, the layer-2 technology Lightning Network is now garnering attention due to its ‘Lightning Torch’ campaign on Twitter. The Lightning Torch, started b

Read More

PhonePe Aims For $10 Bn Valuation, May Raise Funds From KKR, General Atlantic

Digital payments company PhonePe is looking to fill its kitty at a valuation of $10 Bn. In the heated digital payments scenario of India, PhonePe is reportedly looking to raise fresh funds from privat

Read More

New laws to block Huawei from sensitive state projects

New laws on foreign investment in the UK will block Chinese firm Huawei from sensitive UK tech projects, The Sun newspaper reported on Friday. Many are concerned that allowing Huawei an inside trac

Read More

E-commerce rule changes put off PE/VC investors

Chennai: Private Equity and Venture Capital funds have developed cold feet about investing in e-commerce companies due to the regulatory uncertainties. While PE/VC game in the horizontal space is over

Read More

Reliance blames ‘illegal’ actions by L&T Finance, Edelweiss for stock crash

New Delhi: The Anil Ambani-led Reliance Group on Friday accused L&T and Edelweiss entities of "illegal" and "motivated" actions in invoking the pledged shares and selling them in open market, leading

Read More

SBI cuts home loan rates by 5 basis points

Mumbai: Home loan borrowers waiting for lower interest rates may be disappointed. State Bank of India (SBI), the country’s largest lender, on Friday announced a marginal reduction in home loan rates o

Read More

GoM approves 5 per cent GST on flats under construction

New Delhi: Buyers of under-construction residential flats have reason to cheer, as a ministerial panel on Friday recommended lowering the goods and services tax (GST) on such properties to 5 per cent

Read More

Amid Uncertainty, Brands May List Directly On Amazon, Flipkart

As large online marketplaces rush to resolve their supply chain issues to comply with the changes in FDI policy for ecommerce from February 1, a few big and small consumer goods brands are now looking

Read More

PCI Recommends Independent Payment Expert, Part-KYC To Nilekani Committee

Almost 30 days into the new five-member ‘High-Level Committee for Deepening of Digital Payments” was set up by the Reserve Bank of India, the Payments Council of India has submitted its recommendation

Read More

Tata Motors profit takes a hit of Rs 27,838 crore at JLR

Mumbai: Tata Motors said on Thursday that its profit after tax of Rs 26,961 crore during October to December 2018 was impacted by an exceptional item of asset impairment in Jaguar Land Rover of 3.1 bi

Read More

Jet Airways grounds four aircraft after failing to pay lessors

SINGAPORE: India’s Jet Airways Ltd has grounded four aircraft after failing to make payments to lessors, in a sign that leasing firms are losing patience with the heavily indebted carrier. The airl

Read More

Sensex drops over 200 points; Tata Motors tanks 14 per cent

Mumbai: BSE benchmark Sensex dropped over 200 points in early trade on Friday led by heavy losses in Tata Motors, and weak cues from global markets on renewed concerns over US-China trade tiff. The

Read More

Softbank invests Rs 2,800 cr in Indiabulls Housing Fin's associate OakNorth

New Delhi: Indiabulls Housing Finance on Friday said Japan's Softbank is investing Rs 2,800 crore of equity capital in its associate OakNorth, a commercial bank in the UK. "With this investment, the

Read More

Rupee gains 13 paise against dollar in early trade post RBI rate cut

Mumbai: The rupee on Friday appreciated by 13 paise to 71.32 against the US dollar in early trade after the Reserve Bank of India cut the repo rate and changed its policy stance to 'neutral'. Force

Read More

FDI Ecommerce Rules Will Hit Smaller Startups, Discourage Investors: Binny Bansal

Flipkart cofounder Binny Bansal has criticised the changes in the foreign direct investment (FDI) policies in the Indian ecommerce sector. He reportedly said that these regulations will have an advers

Read More

World’s Largest Insurance Scheme Ayushman Bharat Launches Mobile App

The government’s mega health insurance scheme, Pradhan Mantri Jan Arogya Yojana (PM-JAY), popularly known as the Ayushman Bharat, has launched the PM-JAY app on Google Play Store. The scheme received

Read More

Flipkart CEO Reiterates Walmart’s Commitment To India, To Bring In Offline Players As Sellers

Amid looming fear among Flipsters (Flipkart employees), CEO Kalyan Krishnamurthy reiterated the US ecommerce marketplace’s commitment to lead the ecommerce sector. He made the announcement in in a let

Read More

RBI projects 7.4 per cent GDP growth for FY20

Mumbai: The Reserve Bank of India on Thursday projected an economic growth rate of 7.4 per cent for the next fiscal, up from 7.2 per cent estimated for the current fiscal by Central Statistics Office

Read More

Vodafone Idea's loss in Q3 mounts to Rs 4,974 crore

Mumbai: Vodafone Idea on Wednesday reported a loss of Rs 5,004 crore for the quarter ended December 2018. The company had posted a loss of Rs 4,974 crore in its previous quarter ended September 30.

Read More

On Its Way To A Massive Fundraise, Zomato Picks Up $40 Mn

Food delivery and restaurant discovery company, Zomato, has raised INR 284.42 Cr ($39.74 Mn) in a private equity round from US-based Glade Brook Capital Partners. This foodtech giant, cofounded by Dee

Read More

US Logistics Startup FourKites To Double India Headcount With $50 Mn Funding

Chicago-based freight tracking logistics startup FourKites has announced that it will utilise a part of its $50 Mn Series C funding in doubling the employee headcount of its engineering arm in Chennai

Read More

After 2016 Debacle, OLA Relaunches Bike Taxis In Bengaluru

India’s largest cab aggregator, OLA, relaunched bike taxis in Bengaluru on Monday (February 4), after it had discontinued services in 2016 following a directive by transport authorities in 2016. Si

Read More

Blockchain This Week: How One Company Is Mapping The Journey Of Clothes From Seed To Stitched Garment

Consider the most famous tag in the fashion world. The one which starts with “Made In.” Fast fashion takes a huge toll on the environment. One which is steadily mounting as average wardrobe sizes h

Read More

Warburg Pincus, SAIF Partners Lead $35 Mn Series E Funding In Rivigo

Gurugram-based logistics Unicorn Rivigo has raised $35.6 Mn (INR 255 Cr) in a Series E funding round from existing investors Warburg Pincus and SAIF Partners. A Ministry of Corporate Affairs (MCA)

Read More

FDI Rule Changes In Ecommerce Will Hit Smaller Startups: Binny Bansal

Flipkart cofounder Binny Bansal has criticised the changes in the foreign direct investment (FDI) policies in the Indian ecommerce sector. He reportedly said that these regulations will have an advers

Read More

Sensex leapfrogs to 37,000 marks, Nifty reclaims 11,000-mark

Mumbai: The BSE benchmark Sensex rallied over 358 points on Wednesday while the NSE Nifty recaptured the key 11,000 mark as investors wagered on the RBI changing its policy stance to neutral. The 3

Read More

Gold slides Rs 25 to Rs 34,450; silver down Rs 320

New Delhi: Gold prices on Wednesday declined marginally by Rs 25 to Rs 34,450 per 10 gram at the bullion market in the national capital on muted demand from jewellers, according to the All India Saraf

Read More

OYO India’s Revenue For FY 2017-18 Jumps Almost 247%

Gurugram-headquartered hospitality unicorn OYO Hotels and Homes has reported a 3.5x jump in revenue from its India operations for the year ended March 2018. Operating revenue rose to INR 416 Cr (58.1

Read More

UPI Transactions Surge 8.47% To 672.75 Mn In January But BHIM Payments Dip

The total transaction volumes for the month of January 2019 over the government-backed Unified Payment Interface (UPI) saw an hike of 8.47%, to 672.75 Mn in January 2019 as compared to 620.17 Mn in De

Read More

Amazon’s Grocery Biz Makes A Comeback After A Brief Pause

After it halted services of its groceries platform due to DPIIT’s (Department for Promotion of Industry and Internal Trade) refusal to postpone the deadline on the FDI ecommerce rule from Feb 1, globa

Read More

Zomato Raises $40 Mn To Gain Upper Edge In Foodtech Race With Swiggy

Food delivery and restaurant discovery company, Zomato, has raised INR 284.42 Cr ($39.74 Mn) in a private equity round from US-based Glade Brook Capital Partners. This foodtech giant, cofounded by Dee

Read More

Sensex, Nifty turn choppy ahead of RBI meet; Airtel cracks 4 pc

Mumbai: Benchmark indices started on a choppy note on Tuesday as investors turned cautious amid selling by domestic and foreign funds ahead of RBI's monetary policy review. The 30-share index was t

Read More

Rupee rises 13 paise against dollar in early trade

Mumbai: The rupee appreciated by 13 paise to 71.67 against the US dollar in opening trade on Tuesday, driven by positive opening in domestic equities and weakening of the greenback in overseas markets

Read More

Morgan Stanley alerts Walmart may exit Flipkart after govt revised its FDI rules

Mumbai: Wall Street giant Morgan Stanley stated, Walmart may exit Flipkart in a move matching to what Amazon did in China if the retail giant can’t see a long-term scope for profitability. The brokera

Read More

How banks ran up USD 7 billion phone bill with RCom

For a capital-starved economy, India shows little urgency to extricate good money stuck in failed businesses. That was going to change after the adoption of a modern bankruptcy regime in May 2016.

Read More

Ecommerce FDI Rule: Amazon, Walmart Lose $50 Bn In Market Cap, May Adopt Subsidiary Route

With the new ecommerce rules in place from February 1, Amazon and Walmart’s have together lost $50 Bn in market capitalisation. While Nasdaq-listed Amazon’s shares fell by 5.38% to $1,626.23, losin

Read More

Paytm Mall Cuts Cashbacks To Strengthen Its O2O Biz Model

A week after Paytm Mall rejigged its top-level management, the One97 Communications-owned ecommerce company has slashed cashbacks by more than 80% across its online marketplace categories such as groc

Read More

Swiggy Eyes Next-Gen AI Capabilities With Acqui-hire Of Kint.io

Bengaluru-headquartered food delivery unicorn Swiggy has snowballed into 2019 with its first acqui-hire to enhance its artificial intelligence capabilities with Bengaluru-based Kint.io for an undisclo

Read More

New Draft Ecommerce Policy May Not Call For Sector Regulator: Report

After a thunderous start to 2019 for ecommerce sector with changes in FDI norms, the Department for Promotion of Industry and Internal Trade (DPIIT), earlier known as Department of Industrial Policy a

Read More

Investment in 17 entities under shipping ministry hiked to Rs 5,778 cr for FY'20

New Delhi: The government has increased the proposed investment in 17 enterprises under the shipping ministry to Rs 5,778 crore for 2019-20 in order to boost the 'blue economy'. The estimated inves

Read More

Oil PSU capex drops to 4-yr low for 2019-20

New Delhi: State-owned oil firms' capital expenditure has hit a four-year low with PSUs such as ONGC and IOC planning to invest Rs 93,693 crore in oil and gas exploration, refining and petrochemicals

Read More

Sensex drops over 100 points; bank, auto stocks fall

Mumbai: The BSE benchmark Sensex Monday fell over 100 points tracking selloff in banking, auto and metal stocks amid mixed cues from global markets. The 30-share index was trading 109.53 points, or

Read More

Reliance Jio draws plan to bundle its own 5G handsets with 5G services

New Delhi: Taking yet another first-move step, Reliance Jio is drawing up plans to bundle its own 5G handsets with 5G services by April next year for which it is already in discussion with vendors for

Read More

Go-Jek Raises More Than $1 Bn From Google, Tencent: Report

Indonesian ride-hailing company Go-Jek, which has set up its engineering facility in Bengaluru, has announced the first close of its Series F funding round led by Alphabet’s Google, JD.com and Tencent

Read More

Matrix Partners Invests In Vernacular Video Content Platform Awaaz

Indian venture capital firm Matrix Partners India has invested an undisclosed amount in Awaaz, a video news and entertainment platform focusing on regional and hyperlocal content. Awaaz, founded in

Read More

Jan sees fastest rise in factory orders since Dec 2017; mfg activity edges higher

New Delhi: The country's manufacturing sector activity edged higher in January as companies continued to scale up production and employment, driven by the fastest rise in factory orders since December

Read More

EU considers proposals to exclude Chinese firms from 5G networks

The European Union is considering proposals that would effectively amount to a de-facto ban on Huawei Technologies Co. equipment for next-generation mobile networks, four senior EU officials said, add

Read More

GDP growth rate for 2017-18 revised upwards to 7.2 per cent

New Delhi: The government on Thursday revised the economic growth rate upwards to 7.2 per cent for 2017-18 from the 6.7 per cent estimated earlier. "Real GDP or GDP at constant (2011-12) prices for

Read More

Sensex jumps over 100 points, Nifty at 10,865 ahead of Budget 2019

Mumbai: The BSE benchmark Sensex Friday jumped over 100 points ahead of the Budget presentation by finance minister Piyush Goyal amid heavy buying by foreign portfolio investors. The 30-share index

Read More

Some VCs Opine Ecommerce Policy Favouring Large Corporates, Report

Come tomorrow (February 1), consumers shopping online on marketplaces such as Amazon India and Flipkart, may see higher prices and fewer discounts. The revised rules prohibit foreign-funded ecommer

Read More

Blockchain Startup Infinichains Raises $2.4 Mn In Series A Funding Round

San Francisco and Pune-based blockchain startup InfiniChains raised $2.4 Mn (INR 17.07 Cr) in its Series A funding round from Ajanta Pharma founder Purushottam Agrawal. The company aims to use the

Read More

RBI Launches Digital Payments Ombudsman Scheme To Address User Complaints

In order to provide hassle-free digital payment experience, the Reserve Bank of India (RBI) launched the ombudsman scheme for online payments sector on January 31, 2019. Under this scheme, the regulat

Read More

Ola Comes Closer Profitability, Cuts Losses By 42% In FY18

Bengaluru-headquartered ride-hailing company Ola has been busy raising funds, expanding across the globe and addressing woes of its drivers and riders while aiming for the profitability in FY19. Ho

Read More

SBI set to own 15 pc of Jet Airways after debt for equity swap: reports

New Delhi: State Bank of India, a lender to Jet Airways, is likely to own 15 per cent of the cash-strapped carrier after the airline gets consent for a debt to equity swap, TV channels reported on Tue

Read More

Gold prices rise by Rs 100 per 10 gm on firm trend overseas

New Delhi: Extending its gains, gold prices on Tuesday rose by Rs 100 to Rs 33,750 per 10 gram at the bullion market here, tracking a firm trend overseas, according to All India Sarafa Association.

Read More

IOC seeks commissioning cargo for new Ennore LNG terminal: sources

Singapore: Indian Oil Corp (IOC) is seeking a commissioning cargo for its new Ennore liquefied natural gas (LNG) terminal in south India, two industry sources said on Wednesday. The state-owned com

Read More

Rupee slips 25 paise against dollar in early trade

Mumbai: The rupee depreciated by 25 paise to 71.36 against the US dollar in early trade on Wednesday amid strengthening of the American currency and rising crude prices. Forex traders said strength

Read More

Talent Technology Startup Shortlist Raises $2 Mn In Series A Funding

Mumbai-based talent vetting company Shortlist has raised $2 Mn (INR 14.2 Cr) in Series A funding led by Blue Haven Ventures, along with participation from Zephyr Acorn, Compass Venture Capital, Potenc

Read More

Paytm Mall Rejigs Management Amid Declining Sales

Paytm’s ecommerce arm, Paytm Mall, has made a significant restructuring of its top-and mid-level management team, as the company aims to strengthen its daily operations, marketing and verticals. As

Read More

FDI Ecommerce Circular: Business As Usual With Tweaked Pacts Say Flipkart, Amazon To Sellers

With a couple of days left to the February 1 deadline for the rollout of the government’s new FDI policy for ecommerce, dominant online marketplaces, Flipkart and Amazon, have reportedly told their ex

Read More

Binny Bansal, Flipkart Mafia Lead $1 Mn Seed Funding In Crio

Bengaluru-based learning platform for software developers, Crio.Do, has raised $1 Mn (INR 7.12 Cr) in a seed funding round led by Flipkart cofounder Binny Bansal with participation Flipkart employees

Read More

India pips Japan to rank 2nd in steel production

New Delhi: India has replaced Japan as world's second largest steel producing country, while China is the largest producer of crude steel accounting for more than 51 per cent of production, according

Read More

Tata Steel sells 70 per cent stake in Southeast Asia biz to Chinese firm

Mumbai: As part of its strategic plan to exit non-core markets and focus more on the fast-growing home market, Tata Steel Monday signed an agreement to sell 70 per cent stakes each in its two Southeas

Read More

Snapdeal backs India’s curbs

New Delhi: Even as India’s new e-commerce curbs sting Amazon and Flipkart, their local rival Snapdeal is cheering the move. India will from Feb. 1 impose restrictions on how e-commerce firms operat

Read More

Market starts on a volatile note as US-China trade war concerns rise

Mumbai: The BSE benchmark Sensex and NSE Nifty Tuesday started on a volatile note tracking weakness in global equities amid fresh concerns over US-China trade talks. After dropping over 100 points

Read More

BSNL, Tata Motors Ink M2M Communication SIM Deal To Make Tata Cars Smart

India’s leading telecom public sector unit (PSU), Bharat Sanchar Nigam Limited (BSNL), has reportedly signed a machine-to-machine (M2M) communication deal with Mumbai-based automobile manufacturer Tat

Read More

OYO To Strengthen Position In Indonesia By Launching Services In 100 Cities

In a bid to boost its presence in the international market, Gurugram-based hospitality unicorn OYO is aiming to expand its operations in 100 cities across Indonesia by the end of 2019. It also recorde

Read More

Nearly 65% Of Indian Companies Ready For GDPR Compliance: Cisco

Nearly 65% Indian companies are prepared to comply with the European Union (EU)’s General Data Protection Regulation (GDPR), according to a report by technology conglomerate Cisco. According to the

Read More

Shoppers Stop Seeks Clarity On Amazon’s Stake

Ahead of February 1 deadline for changes in FDI policy for ecommerce to come into effect, one of Amazon’s retail investment, Shoppers Stop, is still unclear if these guidelines can affect Amazon’s 5%

Read More

Tencent shares jump 3 percent after regulators approve new games

Tencent Holdings Ltd saw its shares jump more than 3 percent on Friday as investors cheered Chinese regulators’ approval of mobile games published by the industry leader for the first time since a fre

Read More

Indian M&E sector to grow at 11.7 per cent, says report

New Delhi: The Indian media and entertainment (M&E) industry is projected to grow at a CAGR of 11.7 per cent from $30,364 million in 2017 to $52,683 million in 2022 due to rising population, increasin

Read More

Gold prices up on wedding season buying; silver loses sheen

New Delhi: Persistent buying by jewellers and retailers to meet the wedding season demand pushed gold prices higher by Rs 140 to Rs 33,300 per 10 gram at the close of the week. In contrast, silver

Read More

Curbs on etail to affect $46 billion online sales: PwC

New Delhi: India’s new foreign investment restrictions for its e-commerce sector, which includes giants such as Amazon.com Inc and Walmart-owned Flipkart, could reduce online sales by $46 billion by 2

Read More

Exclusive: Health Food Vendor NutriTap Raises Seed Funds From Apoorva Patni, Others

The funding round was led by angel investor Apoorva Patni, Sameer Khetarpal (director Category, Amazon) and senior members of McKinsey & Co, Google etc. Founded in 2017 by Kumar and Medha Mishra, N

Read More

Cryptocurrency This Week: BitTorrent ICO On Jan28, Bitcoin Enthusiast John McAfee In Exile And More

Crypto world is full of twists and turns. Anti-virus software pioneer John McAfee, an entrepreneur turned cryptocurrency enthusiast who is running for the US president in 2020 is currently running fro

Read More

NCLAT Reserves Order On CAIT’s Petition Against CCI Approval Of Walmart-Flipkart Deal

While Walmart-acquired Indian ecommerce company Flipkart works on getting compliance for its operational model under the new changes of FDI policy in ecommerce, another examination for it by National

Read More

India to surpass China to become 2nd largest oil demand centre in 2019

New Delhi: India will surpass China to become the second largest oil demand growth centre globally in 2019 on back of buoyant auto fuel and LPG consumption, research and consultancy group Wood Mackenz

Read More

Viacom buys television streaming service for USD 340 million

San Francisco: US media group Viacom announced on Tuesday a deal to buy free streaming television service Pluto TV for USD 340 million in cash to better compete as lifestyles shift to online entertain

Read More

SoftBank Commits $396 Mn To Firstcry In Series E Round

After months of speculations, Japanese conglomerate SoftBank has committed $395.7 Mn (INR 2,824 Cr) in a Series E round of Pune-based online baby products omnicommerce retailer Firstcry. According

Read More

Car Marketplace Truebil Raises $14 Mn Series B Funding For Expansion

Mumbai-based ecommerce platform for buying and selling used cars, Truebil, has raised INR 100 Cr ($14 Mn) in a mix of equity and debt Series B funding round led by Japanese investor Joe Hirao, as the

Read More

Uber India’s Net Profit Up 39% For FY18

Uber’s decision to not quit the Indian market while it was offloading its business in South-East Asia last year seems to have borne fruit as the San-Francisco-based cab aggregator’s India unit posted

Read More

OLX To Double Sales Team In 2019 To Bolster Real Estate Ops

Online classifieds platform OLX is looking to reportedly double its sales team in 2019. The company has seen fast growth in its real estate listings in terms of average ticket sizes and expects to

Read More

Canada should ban Huawei from 5G networks: Former spy chief

Canada should ban China’s Huawei Technologies Co Ltd from supplying equipment to Canadian 5G networks because the security risk is too great, a former spy chief said in an article published. China’

Read More

Rupee rises 5 paise against dollar in early trade

Mumbai: The rupee edged 5 paise higher to 71.23 against the US dollar in early session at the interbank forex market on Tuesday on fresh selling of the American currency by exporters and banks. Bes

Read More

Sensex drops over 100 points on profit-booking, weak global cues

Mumbai: The benchmark BSE Sensex fell over 100 points on Tuesday after a five-session winning spree as investors cashed profits in IT, metal, banking, consumer durables, power and auto shares amid sus

Read More

Karnataka Authorities Pull Up Ola, Uber Over Child Locks In Cabs

Ride-hailing companies Ola and Uber continue to face trouble from government authorities, this time with the Karnataka transport department, for failing to ensure that cabs hailed on their apps do not

Read More

OYO Expands To Phillippines, Begins Partnering With Hotels In Manila

Homegrown hospitality unicorn OYO has entered yet another global destination in its bid to expand its customer base and extend its reach in the international tourism sector. The Ritesh Agarwal-led

Read More

Cisco’s John Chambers Urges Indian Startups To Go Global

Cisco’s chairman emiritus John Chambers reportedly said that Indian entrepreneurs should test their products in the global markets especially the US as the competition they will face from more mature

Read More

HDFC Bank Q3 net profit rises 20 per cent to Rs 5,586 crore

New Delhi: Private lender HDFC Bank on Saturday reported a 20.3 per cent growth in net profit to Rs 5,585.9 crore for the third quarter ended December 31, mainly on higher net interest income. The

Read More

US could offer oil at discount to compensate for Iran curbs

New Delhi: The US may offer higher quantities of oil and gas to India on concessional terms from its own reserves to help the country tide over Iran sanctions that propose to suck out close to 10 per

Read More

Rupee depreciates 26 paise against US dollar in early trade

Mumbai: The rupee weakened by 26 paise to 71.45 against the US dollar in early trade on Monday on increased demand for the American currency from importers amid rising crude prices and foreign fund ou

Read More

Sensex jumps 250 points; Nifty tests 10,950

Mumbai: Rising for the straight fifth session, the benchmark Sensex rallied 250 points after opening on a cautious note on Monday, on continued buying in select bluechips by domestic investors amid a

Read More

FPI outflow crosses Rs 4,000 crore in Jan so far

New Delhi: Foreign investors have pulled out more than Rs 4,000 crore from the Indian capital markets so far in January, highlighting their cautious stance towards the country. This comes following

Read More

Reliance Retail, Jio To Jointly Launch Ecommerce Platform: Mukesh Ambani

Reliance group companies, Reliance Retail and Reliance Jio Infocomm will jointly launch a new ecommerce platform, said Reliance chairman and managing director, Mukesh Ambani during the Vibrant Gujarat

Read More

Cryptocurrency This Week: Supreme Court To Hear Bitcoin Case On February 26, Digibank Freezes Accounts And More

With Bitcoin dipped below its threshold where it is no longer efficient to mine in most countries of the world, and millions of Bitcoin getting lost or stolen, Alderson’s statement reflects the real s

Read More

Ola Seeks To Expand Ola Credit As An NBFC

Bengaluru-based cab hailing company Ola has continued diversifying its portfolio with plans to join the club of Indian non-banking finance companies, in a fresh bet on the growing fintech sector in th

Read More

Huawei under investigation for alleged trade secret theft

Federal prosecutors are investigating Huawei Technologies, the world’s largest telecommunications equipment maker, for allegedly stealing trade secrets from US businesses and could soon issue an indic

Read More

Rs 4,241 crore project on I-T filing goes to Infosys

New Delhi: The government on Wednesday said IT major Infosys will develop the next-generation income tax filing system for Rs 4,241.97 crore which will cut down the processing time for returns to one

Read More

New twist to Essar tale, SBI seeks to sell Rs 15,000 cr bad loans

New Delhi: Adding a fresh twist to the tale, the lead banker in the committee of creditors (CoC) overseeing the Essar Steel insolvency resolution process has decided to recover its share of dues from

Read More

Epigamia Raises $25.58 Mn In A Series C Round Led By Verlinvest And Danone Manifesto Ventures

Mumbai-based fresh FMCG products company Drums Food International, the parent company of Epigamia, has raised $25.58 Mn (INR 182 Cr) in a Series C round of funding led by Belgium-based consumer-focuse

Read More

Flipkart Receives $200.8 Mn Investment From Its Parent Co

The wholesale arm of the Walmart-owned Flipkart — Flipkart India Private Ltd — has received an investment of $200.8 Mn (INR 1,431 Cr) from its Singapore-based parent entity, Flipkart Private Limited.

Read More

Online Insurance Startup Turtlemint Raises $25 Mn From Sequoia

Mumbai-based online insurance startup Turtlemint has reportedly raised $25 Mn (INR 178 Cr) in a fresh funding round which was led by its existing investor Sequoia Capital. Other existing investors suc

Read More

Govt’s Tough Stand On Ecommerce FDI May Put A Stop To Amazon’s Food Sales In India

Ecommerce platform Amazon’s food retail arm Amazon Food will stop selling products through its website if the government does not modify the foreign direct investment (FDI) guidelines by next month.

Read More

RBI To Check WhatsApp Pay’s Adherence To Data Localisation Norms, Says SC

Supreme Court on Monday (January 14) ordered that the Reserve Bank of India (RBI) be made a party to a petition pertaining to the case to check Facebook-owned WhatsApp’s adherence to data localisation

Read More

Hotstar Earmarks $16.9 Mn For Launch Of Original Content, Hotstar Specials

In a bid to compete with both the domestic and foreign over-the-top (OTT) players, Mumbai-based video streaming provider Hotstar announced the launch of its original content vertical called Hotstar Sp

Read More

Etihad to raise stake in cash-strapped Jet Airways: source

Abu Dhabi: Etihad Airways plans to hike its stake in debt-laden Jet Airways, a person close to the Abu Dhabi carrier told Reuters late on Monday, further driving up shares of the Indian airline. Je

Read More

Sensex rallies over 300 pts; Nifty reclaims 10,800 mark

Mumbai: The BSE benchmark Sensex Tuesday rallied over 300 points tracking positive cues from other Asian markets amid heavy buying by domestic institutional investors. Market sentiment was also upb

Read More

Rupee depreciates 10 paise against USD; falls below 71 mark

Mumbai: The rupee depreciated by 10 paise and fell below the 71 per dollar mark in opening trade on Tuesday amid strengthening greenback, sustained foreign fund outflows and surging crude oil prices.

Read More

Paytm Plans To Launch OTT Services, Begins Hiring Process

Online payment and ecommerce platform Paytm is reportedly looking to foray into the video content space and plans to launch over-the-top (OTT) services. The company has also begun the hiring process f

Read More

Swiggy Delivery Execs Clash With Hotel Empire Employees, 30 Arrested

Foodtech unicorn Swiggy came into the spotlight for the wrong reasons after some of its disgruntled delivery executives got involved in a skirmish with the staff of Bengaluru-based Empire Hotel and al

Read More

Vogo Raises $8.87 Mn Series B Funding From Kalaari, Stellaris And More

Bengaluru-based bike rental startup Vogo Automotive Pvt Ltd, which runs the brand Vogo, has raised $8.87 Mn (INR 62.78 Cr) as part of its ongoing Series B funding round. The filings accessed via th

Read More

Sachin Bansal Leads $21.2 Mn Funding In Ola’s Ongoing Series J Round

Flipkart cofounder Sachin Bansal has invested $21.2 Mn (INR 149.9 Cr) in a cab-hailing platform Ola as part of the latter’s ongoing Series J round through preference shares, according to the Ministry

Read More

Air India's passenger revenue grows by 20 pc in Q3 of 2018-19

New Delhi: While Air India's passenger count rose by only 4 per cent in the December 2018 quarter, its revenue from passengers increased by 20 per cent on the back of better aircraft utilisation, said

Read More

QSRs tweak strategy to fend off Swiggy, Zomato

MUMBAI: The new-found aggression shown by online food ordering apps such as Zomato and Swiggy have changed the business dynamics of traditional quick service restaurant (QSR) particularly in delivery

Read More

Sensex falls over 150 points ahead of key macro data release

Mumbai: The BSE benchmark Sensex on Monday dropped over 150 points tracking weakness in other Asian markets amid heavy selling by foreign investors. Market sentiment also turned cautious ahead of t

Read More

Oil slides on China trade slump, but crude imports remain high

Singapore: Oil prices fell by almost 1 per cent on Monday, with Brent crude slipping below $60 per barrel, after Chinese data showed weakening imports and exports in the world’s biggest trading nation

Read More

Amazon Pay Receives $42.6 Mn From Its Parent Company

Ecommerce giant Amazon has yet again invested $42.6 Mn (INR 300 Cr) in fresh funding in its digital payments arm Amazon Pay. This latest funding comes right after reports stated that Amazon Pay is rol

Read More

Mutual Fund Startup Scripbox Raises $21.4 Mn Series C Funding Led By Accel Partners

Bengaluru-based Scripbox, an online mutual fund investment startup, has raised $21.4 Mn (INR 151.2 Cr) in a Series C funding round led by its existing investor Accel Partners, with participation from

Read More

Social media giants plan push-back on India's new regulations: sources

New Delhi: Global social media and technology giants are gearing up to fight sweeping new rules proposed by the Indian government that would require them to actively regulate content in one of the wor

Read More

Petrol price hiked by 19 paise, diesel by 28 paise

New Delhi: Petrol price was hiked on Friday by 19 paise per litre and diesel by 28 paise, the second increase in rates in as many days on firming input cost. Petrol in Delhi now costs Rs 69.07 per

Read More

Gold snaps 4-day rally, silver also slides

New Delhi: Snapping a four-day rally, gold on Friday declined marginally by Rs 40 to Rs 33,030 per 10 gram at the bullion market here on subdued demand from local jewellers, according to All India Sar

Read More

Sensex falls 96 points, Nifty ends below 10,800

Mumbai: Surrendering early gains, benchmark Sensex on Friday dropped 96 points to end at 36,009.84 as investors booked profits even as global equities rose. The 30-share index opened on a strong no

Read More

Amazon Pay Begins Doorstep KYC Services As RBI Deadline Nears

Amazon Pay has now started rolling out doorstep know-your-customer (KYC) services for its mobile wallet users. The move comes after the Supreme Court’s September 26, 2018 verdict on Aadhaar which rest

Read More

Ola Becomes $6 Bn Unicorn With $74 Mn Funding From Steadview Capital

Homegrown online cab aggregator Ola is now reportedly worth $5.5- $6 Bn after it raised $74 Mn (INR 520 Cr) from its existing investor, a Hong Kong-and London-based hedge fund, Steadview Capital, thro

Read More

Tata Consultancy highlights strong deal pipeline, after record quarter

Tata Consultancy Services, India’s top software services exporter, on Thursday reported a record quarterly profit helped by gains in its key banking, financial services and insurance (BSFI) division a

Read More

Annual mop up to take Rs 3,000 crore hit

New Delhi: To woo small businesses before Lok Sabha elections, the GST Council headed by Union finance minister Arun Jaitley on Thursday decided that small and medium enterprises (SMEs) with annual in

Read More

BankBazaar expands credit card category for self-employed customers

BankBazaar, India’s leading online marketplace for financial products, announced the launch of Business Cards from Yes Bank on their platform. With this launch, BankBazaar expands its Credit Card cate

Read More

Modi's 'Make in India' a casualty as steel, auto firms spar over sourcing

New Delhi: India’s steel ministry is putting pressure on automakers to use locally made steel by refusing to back down on tougher import rules despite warnings that the new regulations could disrupt t

Read More

Blockchain This Week: What’s A 51% Attack, Blockchain Cash Handler, And More

This week, the unthinkable has happened in the blockchain world. Ethereum Classic (ETC) — the original version of the Ethereum network — came under attack on January 5 when an unknown perpetrator esse

Read More

OYO Appoints Top Level Execs To Drive International Growth

Hospitality major OYO has appointed top executives in China, Malaysia and Europe to strengthen its international footprint. The company appointed Andrew Verbitsky as the head for its Europe operati

Read More

Amazon India Glitch Leaks Tax Data Of 400K Sellers

Amazon India said that the tax data of close to 400K sellers was visible to other sellers due to a technical glitch on January 6. The data breach came to light after a media report, citing some Ama

Read More

Lanka's Central Bank gets USD 400 million swap from RBI

Colombo: Sri Lanka's Central Bank on Wednesday said that the Reserve Bank of India (RBI) has agreed to provide USD 400 million under a swap arrangement to boost the island nation's reserves. "The R

Read More

Gold up Rs 110 on wedding season buying

New Delhi: Gold rose for the third straight session Wednesday, gaining Rs 110 to Rs 32,800 per 10 grams on increased buying by jewellers to meet marriage season demand. Silver prices also spurted by

Read More

Govt eyes about USD 1 billion from Air India sale

New Delhi: The government is eyeing around USD 1 billion (about Rs 7,000 crore) from the sale of national carrier Air India in the next financial year, a government official said. The government will

Read More

Rs 18,000 crore subsidy in works for stressed gas-based power projects

New Delhi: The government may launch a new Rs 18,000 crore subsidy scheme for stressed gas-based power projects that will enable these fuel starved plants to run using a mix of domestic and imported g

Read More

Rupee rises 14 paise against US dollar in early trade

Mumbai; The rupee on Thursday appreciated 14 paise to 70.32 against the US dollar in early trade amid weakness in the American currency on uncertainty over Federal Reserve rate hikes following the rel

Read More

Snapdeal lands in trouble for selling sex stimulant drug

New Delhi: The e-pharma industry had just got a breather from the court, that online sale of drugs has come once again under the scanner affecting the reputation of the industry. The Karnataka gove

Read More

London remains top destination for European tech funding

London remained the top destination in Europe for technology investment in 2018, with nearly double the amount being plowed into companies in the British capital than nearest rival Berlin, data showed

Read More

New documents link Huawei to suspected front companies in Iran, Syria

The US case against the chief financial officer of China’s Huawei Technologies, who was arrested in Canada last month, centers on the company’s suspected ties to two obscure companies. One is a teleco

Read More

Sensex jumps over 200 points, Nifty tests 10,850

Mumbai: The BSE Sensex jumped over 200 points to reclaim the 36,000 mark in opening session on Wednesday, extending its winning run for a fourth session on buying by domestic investors, tracking a fir

Read More

Rupee rebounds 7 paise against dollar in early trade

Mumbai: The rupee recovered 7 paise to 70.14 against the US dollar in early trade on Wednesday on fresh selling of the American currency by exporters and banks amid early gains in domestic equities.

Read More

Indian banks propose USD 900 million turnaround plan for Jet Airways: report

Debt-laden Jet Airways Ltd’s lenders proposed a USD 900 million resolution plan, the Mint daily reported on Wednesday, citing sources familiar with the matter. The financial woes of Jet, India’s bigg

Read More

Uber To Double Employee Headcount, Test New Products In India This Year

Ride hailing company Uber’s India unit has reiterated its plans to double its investment in Bengaluru and Hyderabad in terms of headcount, especially in the engineering division. According to reports,

Read More

Flipkart In Talks With Coworking Spaces To Seat Its Growing Team

Walmart-owned Flipkart is reportedly in talks with several coworking space providers to get office space for more than 3,000 workers in Bengaluru. The ecommerce company is currently in talks with at

Read More

IL&FS Transportation Networks defaults on dividend payment of Rs 7.12 cr

New Delhi: IL&FS Transportation Networks, a group company of the troubled IL&FS group, Monday said it has defaulted on dividend payment of Rs 7.12 crore due on redemption of cumulative non convertible

Read More

Rupee softens against US dollar in opening trade

Mumbai: The rupee weakened by 36 paise to 70.04 against the US dollar in opening trade on Tuesday on rising crude prices and some demand for the American currency from importers. The rupee opened wea

Read More

Yet another top-level executive quits Infosys

Bengaluru: Another top-level executive of India's second largest software services company, Infosys has tendered his resignation after close to a two decade-long stint. Sudip Singh, the global head

Read More

Sensex opens on a choppy note; Nifty tests 10,750

Mumbai: The benchmark BSE Sensex opened lower on Tuesday as investors booked profits in recent gainers amid mixed Asian cues and a rebound in crude oil. After two sessions of gains, investors cashed

Read More

VR-Based Interior Design Startup Flipspaces Raises $3.5 Mn

Mumbai-based interior design startup Flipspaces has raised $3.5 Mn (INR 20.9 Cr) from private equity fund Carpediem Capital. According to the startup which uses virtual reality technology, this fund w

Read More

Alibaba Cracks Down On Chinese Sellers Importing ‘Gifts’ Into India

Chinese ecommerce giant Alibaba reportedly said on Monday that it has penalised thousands of sellers on its platform for sending their products to India in the guise of gifts to avoid paying customs a

Read More

Israel’s Radware Acquires Indian Bot Mitigation Company ShieldSquare

Israel-based cybersecurity solutions provider Radware has acquired Indian bot mitigation and management startup ShieldSquare. Post acquisition, Radware will offer ShildSquare’s bot mitigation and mana

Read More

CES 2019: Huawei taps new growth with new server chipset launch

Huawei Technologies Co Ltd on Monday launched a new chipset for use in servers, at a time when China is pushing to enhance its chip-making capabilities and reduce its heavy reliance on imports, especi

Read More

Rupee spurts 33 paise against US dollar in early trade

Mumbai: The rupee appreciated by 33 paise to 69.39 against the US dollar in opening trade on Monday, driven by strong gains in domestic equities and weakening of the greenback in overseas markets. Th

Read More

Sensex builds on gains, rises 288 points; Nifty claims 10,800 mark

Mumbai: The BSE benchmark Sensex rose by about 288 points and the NSE Nifty claimed the 10,800 mark, in early trade on Monday, extending gains for the second straight session on continued buying by do

Read More

Foodtech Unicorn Zomato Hits 28 Mn Monthly Order Run Rate In Dec

Gurugram-headquartered food delivery and restaurant discovery platform Zomato claims to have achieved 28 Mn in monthly order run rate as of December 2018, up from the 21 Mn monthly orders it claimed i

Read More

BigBasket Controls Losses By 53%, Revenue Rises 34% For FY18

Bengaluru-based online food and grocery store Supermarket Grocery Supplies Pvt Ltd, which runs BigBasket, reported a 34% hike in its revenues for the fiscal year ending March 31, 2018, reaching INR 1,

Read More

Cryptocurrency This Week: Bitcoin’s 10th Anniversary, India In No Hurry To Regulate Crypto, And More

Ten years ago, the story of Bitcoin began with investors losing money and companies shutting down, partly due to central banks’ failing monetary policies and government frameworks. On October 31, 200

Read More

Lightspeed Closes Fourth China Fund, Apple Shares Fall: News From Tech And Startup World

US-based iPhone maker Apple Inc greeted the new year on the wrong foot with reports surfacing that the company’s stock had gone down by 38% since October. The company’s CEO, Tim Cook, issued a lett

Read More

Premji Foundation, Ex Flipkart Employees Invest In Binny Bansal-Backed VC Fund

021 Capital, an early stage venture capital fund backed by Flipkart founder Binny Bansal has made its first close of $32 Mn (INR 222 Cr) according to a media report which cited people familiar with th

Read More

Apple shares dive; rare revenue warning drags global markets

Apple Inc shares plunged 10 percent on Thursday after the iPhone maker blamed weak China demand for a holiday-quarter revenue shortfall, with many investors worried the rare stumble was a harbinger fo

Read More

Google shifted $23 billion to tax haven Bermuda in 2017

Google moved 19.9 billion euros ($22.7 billion) through a Dutch shell company to Bermuda in 2017, as part of an arrangement that allows it to reduce its foreign tax bill, according to documents filed

Read More

Malaysia Airports Holding Berhad cancels deal to sell stake

Hyderabad: After GMR Infra failed to fulfil its obligations by December 31, Malaysia Airports Holding Berhad (MAHB), on Wednesday, said that it has terminated the Share Purchasing Agreement (SPA) with

Read More

Sensex rebounds nearly 200 points; Nifty reclaims 10,700 mark

Mumbai: The BSE benchmark Sensex on Friday rebounded nearly 200 points and the NSE Nifty reclaimed the 10,700 mark, driven by recovery in auto, metal and banking stocks amid buying by domestic institu

Read More

Oil dips on manufacturing downturn, but OPEC cuts offer support

Singapore: Oil prices dropped on Friday after the United States followed most other major economies into a manufacturing downturn, although supply cuts by producer club OPEC kept declines in check. I

Read More

Uber India Increases Revenue 20X To $3.05 Mn In FY18

Global cab hailing company Uber has reported an increase of 19.67X in its revenue from its India business — Uber India Technology — reaching $3.05 Mn (INR 21.5 Cr) in the fiscal ending March 2018.

Read More

CarDekho Raises $110 Mn In Series C Funding To Rev Up For Its Next Phase Of Growth

Auto portal CarDekho has raised $110 Mn in Series C funding from existing investors Sequoia India, Hillhouse Capital, CapitalG (Alphabet growth investment arm), and Axis Bank. CarDekho is an online p

Read More

Cabinet clears merger of Dena Bank, Vijaya Bank with BoB

New Delhi: The government on Wednesday approved the merger of Dena Bank and Vijaya Bank with Bank of Baroda (BoB) to make it a globally competitive lender. With the merger, BoB will become the thir

Read More

Niti Aayog against Rs 14,000 crore infusion in BSNL, MTNL for 4G service

New Delhi: The government think tank Niti Aayog have objected the proposal of preferential equity infusion in the two PSUs -- BSNL and MTNL -- amounting to nearly Rs 14,000 crores for acquiring 4G spe

Read More

Sensex, Nifty open weak on negative global cues

Mumbai: Domestic equities declined for the second day as the BSE benchmark Sensex on Thursday fell over 100 points on weak global cues and heavy selling by foreign and domestic institutional investors

Read More

Zomato In Talks For New $1 Bn Fundraise To Counter Swiggy’s Latest Funding

Gurugram-based foodtech company Zomato is reportedly in talks to raise a fresh funding round of $500 Mn to $1 Bn from Chinese private equity major Primavera Capital and Alibaba payments affiliate Ant

Read More

Sachin Bansal Pays $100.3 Mn Advance Tax For Flipkart Earnings

Flipkart cofounder Sachin Bansal has reportedly paid an advance tax of $100.3 Mn (INR 699 Cr) for the first quarter of 2018-19. The amount includes his capital gains tax from selling his stake sale in

Read More

Not Keen On Softbank Money, Ola To Raise $1.9 Mn Via Preference Shares

Bengaluru-based cab sharing platform Ola is under the process of raising $1.9 Mn (INR 14 Cr) via allotting preference shares to China-based electric vehicle company Eternal Yield International. Acc

Read More

Blockchain This Week: The Indian Startup Behind Unicef’s Vaccination Programme, Blockchain Gaming, And More

Last year, Unicef picked six blockchain startups to aid its various humanitarian efforts. One of these was Statwig, a Hyderabad-based company which focuses on blockchain-powered solutions for the cold

Read More

Restaurant Association Files CCI Complaint Against Major Foodtech Players

In an online petition to the Competition Commission of India (CCI) and the Prime Minister’s Office (PMO), nearly 500 small to midsized restaurant companies alleged “misuse of dominant position by food

Read More

Bill Gates' nuclear venture hits snag amid US restrictions on China deals: WSJ

TerraPower LLC, a nuclear energy venture chaired by Microsoft Corp co-founder Bill Gates, is seeking a new partner for early-stage trials of its technology after new US rules forced it to abandon an a

Read More

Sensex falls on foreign fund outflow in early trade

Mumbai: The BSE benchmark Sensex started the new year on a weak note and turned choppy after opening higher in early trade on Tuesday amid sustained capital outflows by foreign funds and surging globa

Read More

ATF price cut by 14.7 per cent; costs less than petrol, diesel

New Delhi: Jet fuel price on Tuesday was cut by a record 14.7 per cent on the back of decline in international rates, making it cheaper than both petrol and diesel. The price of Aviation Turbine Fu

Read More

Govt exempts rupee payments for Iran oil from taxes

New Delhi: The government has exempted rupee payments made to Iran's national oil company NIOC towards the purchase of crude oil from payment of any tax, according to a Gazette notification. The fi

Read More

GST collection drops to Rs 94,726 cr in December

New Delhi: GST collection dropped to Rs 94,726 crore in December 2018, lower than Rs 97,637 crore collected in the previous month. The total number of sales returns or GSTR-3B filed till December 3

Read More

Kerala Govt Calls For Startup Participation In IT Projects Worth Upto $143K

As one of the frontrunners in among Indian states for startup friendly policies, Kerala has now approved its departments and autonomous institutions to invite startups registered under the Kerala Star

Read More

RBI Lifts Six Month Ban, Permits Paytm Payments Bank To Onboard New Customers

The year 2019 seems to have brought good luck to Paytm. After almost six months of the ban, the Reserve Bank of India (RBI) has allowed Paytm Payments Bank to restart opening new accounts for its cons

Read More

New e-commerce rules regressive, will harm consumers: USISPF

New Delhi: The US-India Strategic Partnership Forum (USISPF) has dubbed the new e-commerce rules as "regressive" and said that the changes would harm consumers, create unpredictability and have a nega

Read More

Sensex rises over 150 points, Nifty hits 10,900-mark

Mumbai: Continuing its winning streak for a fourth straight session on Monday, the BSE benchmark Sensex surged over 150 points as investors maintained their bullish stance in early trade on positive c

Read More

Rupee gains 20 paise against dollar in opening trade

Mumbai: The rupee appreciated 20 paise to 69.75 against the US currency in opening trade Monday amid weakening of the American unit and positive opening in the domestic equity market. Forex traders

Read More

Cryptocurrency This Week: Is The Bitcoin Party Over?

Exactly, a year ago, as we were about to enter 2018, Bitcoin and crypto market had already started its race to the bottom. On December 31, 2017, the total value of the crypto market stood at $578 Bn w

Read More

Tesla Shares Drop By 7.6%, Alibaba Backs Hellobike: News From Tech And Startup World [Dec 24-30]

Facebook-owned picture sharing social platform Instagram came under intense criticism this week after a ‘bug’ changed the layout of its feed, while the company was testing a new feature which would al

Read More

FDI Ecommerce Circular: Amazon, Flipkart Tread Carefully; Sellers Stay Doubtful

Amazon India and Flipkart have given muted reactions to the proposed changes in the ecommerce policy released on Wednesday (December 26) by the Ministry of Commerce and Industry, while online sellers

Read More

ICICI Bank loan row probe ‘almost’ complete

New Delhi: The controversy related to ICICI Bank, the largest private lender of India, is refusing to die as the government on Thursday indicated that inspection of the books of six companies linked t

Read More

7 PSU banks set to get Rs 28,615 crore lifeline in 4 days

New Delhi: The government is set to infuse Rs 28,615 crore into seven public sector banks through recapitalisation bonds in four days to help them meet regulatory capital requirement, official sources

Read More

Sensex vaults 269 points to reclaim 36,000-mark

Mumbai: Benchmark Sensex rose for the third straight session on Friday to reclaim the 36,000-mark on across-the-board buying by foreign funds amid a rebound in the rupee. After surging 400 points int

Read More

Food Regulator FSSAI Steps Up Scrutiny For Ecommerce Food Companies

The national food regulator Food Safety and Standards Authority of India (FSSAI) has issued revised guidelines to step up scrutiny of ecommerce food companies saying that there can be no compromise on

Read More

India Crosses 500 Mn Internet Connections As Rural Users Surge

India has reportedly recorded 560 Mn internet connections at the end of September 2018, marking a 65% growth from 340 Mn connections in March 2016. This development comes three years after telecom min

Read More

OYO Announces First ESOP Round Worth About $7 Mn

Hotel aggregator OYO has announced its first Employee Stock Ownership Plan (ESOP) for 250 employees in a secondary share acquisition programme worth $5.7 Mn – $7.1 Mn (INR 40-50 Cr). The ESOP plan is

Read More

White House mulls new year executive order to bar Huawei, ZTE purchases

President Donald Trump is considering an executive order in the new year to declare a national emergency that would bar US companies from using telecommunications equipment made by China’s Huawei and

Read More

Huawei announces over 200 million smartphones shipped in 2018

Huawei has announced that its smartphone shipments for the 2018 year have exceeded 200 million units, thanks to the support of consumers and partners around the world, as well as the strength of the s

Read More

India to issue draft e-commerce policy in few weeks: government source

India will announce a new draft policy for e-commerce in a few weeks, a source in the government said on Thursday, a day after the country tweaked foreign investment rules for the burgeoning sector.

Read More

Govt has prepared revival plan for Air India: Jayant Sinha

New Delhi: The government has prepared a revival plan for Air India that provides for a comprehensive financial package, differentiated strategies for each of the airline's core businesses and robust

Read More

Rupee gains 30 paise against dollar in opening trade

Mumbai: The rupee rose by 30 paise to 70.05 against the US currency in opening trade on Friday aided by foreign fund inflows amid a weak dollar globally and sharp fall in crude oil prices. Domestic

Read More

Sensex rallies over 300 points, Nifty reclaims 10,800 level

Mumbai: BSE benchmark Sensex on Friday rallied over 300 points and NSE Nifty reclaimed the 10,800 mark on firm global cues, heavy foreign fund inflow and strengthening rupee. Extending gains for th

Read More

India eyes USD 100 billion FDI in next two years: Suresh Prabhu

New Delhi: India will aim to receive USD 100 billion in foreign direct investments in the next two years and special industrial clusters are being created for countries like Japan, South Korea, China

Read More

BoB shareholders to meet next month to consider capital raise under ESPS

New Delhi: Shareholders of Bank of Baroda will meet next month to consider issuing up to 10 crore new shares under Employee Share Purchase Scheme (ESPS). An extraordinary general meeting of the sha

Read More

Sensex rallies over 300 points on positive global cues, Nifty reclaims 10,800

Mumbai: BSE benchmark Sensex rallied 391 points and NSE Nifty reclaimed the 10,800 level on Thursday on positive cues from Wall Street as US stocks recovered from heavy losses after the White House as

Read More

India tightens e-commerce rules, likely to hit Amazon, Flipkart

New Delhi: India will ban e-commerce companies such as Amazon.com and Walmart-owned Flipkart Group from selling products from companies in which they have an equity interest. In a statement, the gove

Read More

Delhivery Increases Revenues By 42%, Expenses By 26.7% For FY18

Gurugram-based ecommerce logistics company Delhivery has recorded a strong growth in the year, though expenses also increased ahead of a $450 Mn round expected from SoftBank , which will vault it into

Read More

Blockchain This Week: Mahindra Doesn’t Like Sour Grapes, Happy Holidays And See You Next Year!

In 1908 Henry Ford released the Model T car and brought conveyor belts and mass production technologies to what was essentially a made-by-hand affair up until then. In less than 20 years, 15 Mn Model

Read More

Google Invites Indian Startups For Second Batch Of Launchpad Accelerator

Global search company Google is inviting startups across machine learning (ML) and artificial intelligence (AI) sectors to apply for the second batch of its Launchpad Accelerator India programme. T

Read More

Ecommerce Policy Draft: Govt Looks To Curb Deep Discounting Practices

The Indian government has restricted online marketplaces from influencing the sale price of products, in a move to bring respite to ecommerce vendors and offline retailers against deep discounting pol

Read More

Tata Tigor EV now available on rent in Pune

Indian carmaker Tata Motors will now offer its Tigor electric car to Zoomcar customers in Pune. It’s not the first instance when an electric car is available on self-drive rental on the Zoomcar platfo

Read More

Huawei faces new setbacks in Europe’s telecom market

The US dispute with China over a ban on tech giant Huawei is spilling over to Europe, the company’s biggest foreign market, where some countries are also starting to shun its network systems over data

Read More

Gold ETFs lose sheen, investors withdraw Rs 280 cr in Apr-Nov

New Delhi: Gold exchange-traded funds (ETFs) continue to lose steam, with investors pulling out Rs 280 crore during the April-November period of the current fiscal, preferring to invest in equities de

Read More

Sensex cracks over 350 points on global selloff; Nifty below 10,600

Mumbai: Domestic equities benchmark BSE Sensex plunged over 350 points on Wednesday as investors turned jittery over political uncertainty in the US and fears of a global economic slowdown amid heavy

Read More

Facebook India’s Profit Rises 40% In FY18 Despite Increased Legal Expenses

Facebook’s India unit has posted a profit of $8.11 Mn (INR 57 Cr) in the year ended March 2018, a jump of 40% from the year before, according to media reports. During the year, the company’s total

Read More

Petrol costs Rs 34 per litre before tax, dealer commission in NCR

New Delhi: Petrol will cost only Rs 34.04 per cent per litre and diesel Rs 38.67/ per litre without taxes and dealer's commission in the national capital region. Giving details of the prices of pet

Read More

Sensex, Nifty choppy amid weak global cues

Mumbai: The benchmark BSE Sensex opened on a volatile note early on Monday on short-covering by investors amid weakness in Asian markets. Buying activity in pharma, technology, banking auto and FMC

Read More

Facebook Is Developing A Cryptocurrency For WhatsApp Money Transfers: Report

Facebook may be looking to dabble in cryptocurrency-based payments solutions for its messaging platform WhatsApp, with a focus on its Indian users. Quoting unnamed sources, a Bloomberg report has s

Read More

Flipkart’s PhonePe Steps Into Wealth Management Space

Flipkart-owned digital payments company PhonePe has launched its own wealth management unit, PhonePe Wealth Services, according to Registrar of Companies (RoC) filings. According to the RoC filings

Read More

Cryptocurrency This Week: Facebook Developing Cryptocurrency, Buterin’s $300K Giveaway And More

As we entered this year, Zuckerberg, on January 4, expressed his thoughts and love for cryptocurrencies. However, the plan was then pushed under the carpet and on January 31, the social media giant ha

Read More

SoftBank Shares Drop 14.5% In Japan’s Biggest IPO: News From Tech And Startup World [Dec 17-23]

Facebook drew flak from across the world after reports surfaced saying that since 2010, the company has been sharing the personal data of its users with more than 150 companies such as Amazon, Netflix

Read More

Home Interiors Startup Design Cafe Raises $28.5 Mn From WestBridge Capital

Bengaluru-based online interior design platform Design Cafe has raised $28.5 Mn (INR 200 Cr) equity-financing round led by private equity firm WestBridge Capital in participation with existing investo

Read More

Facebook defines ‘permission’ loosely

Facebook gave companies such as Apple, Amazon and Yahoo extensive access to users’ personal data, effectively exempting them from the company’s usual privacy rules, according to a New York Times repor

Read More

Capri global Housing Finance aims to cross Rs 7,000 crore by 2023

Mumbai: Capri Global Housing Finance Limited (CGHFL), a subsidiary of Capri Global Capital Limited (CGCL) - a leading NBFC lending primarily to MSME and Affordable Housing Sector - aims to clock 29-X

Read More

FinMin increases bank recap fund by Rs 35,000 crore

New Delhi: The Centre on Thursday sought parliament’s nod for enhancing funds earmarked for the recapitalisation of state-owned banks to Rs 1,06,000 crore from an earlier target of Rs 65,000 crore in

Read More

State banks recover USD 8.69 billion of bad loans in April-September

New Delhi: Indian state-run banks recovered 607.3 billion rupees ($8.69 billion) of outstanding bad loans in the April-September period, which a finance ministry official said on Thursday was a “recor

Read More

Kalaari And Unilever Back Ecommerce Startup Shop101 In $11 Mn Funding Round

Social ecommerce startup Shop101 has reportedly raised $11.3 Mn (INR 80 Cr) in a Series B funding round led by Kalaari Capital and Unilever Ventures. The round came in less than five-months after the

Read More

Foodtech Unicorn Swiggy Bags $1 Bn In Funding Round Led By Naspers

Bengaluru-based food delivery platform Swiggy has raised $1Bn (INR 6,995 Cr) funding in a Series H round led by South Africa-based Naspers. With this round, the total funding raised by Swiggy in 2018

Read More

Milkbasket Raises Additional $7 Mn In Series A Funding

Gurugram-based milktech startup, Milkbasket, has raised an additional $7 Mn (INR 49.3 Cr) in its Series A funding round led by US-based venture capital fund Mayfield Advisors. Existing investors, Kala

Read More

Venture Debt Fund Alteria Capital Invests $3.6 Mn in Portea Medical

Alteria Capital, which claims to be India’s largest Venture Debt fund, said it has invested $3.6 Mn (INR 25 Cr) in Bengaluru-based home healthcare services provider Portea Medical. The funding is

Read More

Cryptocurrency industry faces insurance hurdle to mainstream ambitions

Cryptocurrency exchanges and traders in Asia are struggling to insure themselves against the risk of hacks and theft, a factor they claim is deterring large fund managers from investing in a nascent m

Read More

India will need 2,300 planes worth USD 320 billion in 20 years: Boeing

New Delhi: India will need 2,300 airplanes worth USD 320 billion in the next 20 years, aircraft maker Boeing said on Wednesday. In rupee terms the amount would be around Rs 22,45,364 crore. As muc

Read More

Focussed on bringing next 200 mn Indians into e-commerce fold: Flipkart

New Delhi: Walmart-backed Flipkart is betting big on categories like grocery, furniture and its range of private labels to bring new customers onboard its platform as well as expand its share in the u

Read More

Karnataka Bank ties up with Paisabazaar.com for home loans

Paisabazaar.com, India’s largest online marketplace for financial products, and Karnataka Bank today announced a strategic partnership to offer the bank’s home loan product to customers on the Paisaba

Read More

Sensex, Nifty open lower after US Fed rate hike

Mumbai: Benchmark indices fell sharply in early trade on Thursday on weak global cues after the US Federal Reserve raised its key interest rate for the fourth time this year, and signalled more, but s

Read More

Edtech Startup Toppr Raises $35 Mn From Kaizen, SAIF Partners To Increase Brand Visibility

Hyderabad-based edtech startup Toppr has raised funding of $35 Mn (INR 246.13 Cr) from Kaizen Private Equity and existing investors SAIF Partners, Helion Ventures, Kaizen PE and Eight Roads Ventures.

Read More

Binny Bansal Seeks $100 Mn As Part Of Early Exit Deal With Walmart

Flipkart cofounder Binny Bansal is negotiating terms of his exit and may reportedly opt for an immediate cash payout of $100 Mn (INR 701.5 Cr) from his $850 Mn (INR 5,963.47 Cr) worth-exit from the Wa

Read More

Blockchain This Week: How I Stopped Worrying And Learned To Love The Decentralised Ledger

In 2016, a smart contract platform called Slock(.it) run on the Ethereum, partnered with a German energy giant RWE, in an effort to revolutionise the way electric cars are charged. The project would a

Read More

India may hold inter-ministerial talks before call on Huawei

New Delhi: The government plans to hold inter-ministerial consultations on network security concerns arising from Chinese telecom gear maker Huawei’s participation in field trials for 5G technology af

Read More

Uber gets approval from Pennsylvania to resume self-driving testing

Uber Technologies Inc received approval from Pennsylvania to resume self-driving car testing on public roads this week, state records show, nine months after it suspended the program following a deadl

Read More

Saudi Arabia, Reliance in talks for refinery, petrochem project: Saudi Oil Minister

World's largest oil exporter Saudi Arabia and richest Indian Mukesh Ambani-run Reliance Industries are discussing joint investment in petrochemicals and refinery projects, the Saudi Oil Minister Khali

Read More

Rupee strengthens 50 paise against US dollar

Mumbai: Continuing its rising spree, the rupee appreciated another 50 paise to breach the 70 per dollar-mark in opening trade on Wednesday on persistent drop in crude prices amid fresh foreign fund in

Read More

Sensex rises over 100 points on firm rupee, falling crude prices

Mumbai: The benchmark BSE Sensex advanced over 100 points in early trade on Wednesday on gains in bluechips like Maruti Suzuki, SBI, Tata Steel and ITC amid rising rupee and tumbling crude prices.

Read More

Ola To Invest $100 Mn In Scooter Sharing Service Vogo To Beef Up Its Bike-Taxi Ops

Ola, India’s largest cab aggregator by market share, entered into a strategic partnership to invest $100 Mn (INR 712 Cr) in Bengaluru-based Vogo, which claims to be India’s fastest growing scooter sha

Read More

Czech cyber watchdog calls Huawei, ZTE products a security threat

The Czech cyber watchdog warned network operators on Monday against using software or hardware made by Chinese telecom equipment suppliers Huawei and ZTE, saying they posed a security threat. Huawe

Read More

Google to spend USD 1 billion on new campus in New York

Alphabet Inc’s Google is investing more than USD 1 billion on a new campus in New York, becoming the second major technology company after Amazon to pick America’s financial capital to expand and crea

Read More

Sensex reclaims 36,000, surges 307 points

Mumbai: Extending its winning run for a fifth session, the BSE Sensex soared over 307 points to close at 36,270, driven mainly by auto, metal and banking stocks and positive global cues. The broade

Read More

Bitcoin climbs above $3,400, headed for biggest daily rise in nearly three weeks

Bitcoin rose sharply on Monday, climbing above $3,400 in a move traders ascribed to heavy buying on Japan and Hong Kong-based exchanges. The original cryptocurrency jumped as much as 11 percent on

Read More

Rupee rises 37 paise against dollar on falling crude prices

Mumbai: The rupee appreciated 37 paise to 71.19 against the US dollar in early trade at the interbank foreign exchange on Tuesday after crude prices fell to a 14-month low level in international marke

Read More

Accel Partners, IFC Lead $23 Mn Funding Round In B2B Marketplace Moglix

Noida-based B2B industrial goods marketplace MogiLabs, the parent company of Moglix, has raised $23 Mn (INR 164.57 Cr) in a round of funding led by venture capital firm Accel Partners and existing bac

Read More

Quikr Acquires Chennai-Based India Property To Strengthen Real Estate Biz

Bengaluru-based online classifieds marketplace Quikr has acquired Chennai-based real estate platform, India Property Online Pvt Ltd, for an undisclosed amount. The acquisition of India Property’s full

Read More

BYJU’S $540 Mn Funding: Sequoia Offloads 7% Stake In Edtech Unicorn To Naspers, CPPIB

Sequoia Capital, the Silicon Valley-based venture fund, is reportedly selling a 7% stake in Bengaluru-based BYJU’S as part of the edtech unicorn’s mammoth $540 Mn (INR 3,856.33 Cr) funding round. The

Read More

Uber welcomes, unions criticise UK plan to maintain flexible gig economy

Uber Technologies Inc welcomed on Monday the British government’s response to a review into workplace rights, which looks set to preserve the business models of gig economy companies, but unions rubbi

Read More

Sensex rises 224 points on fund inflows, positive Asian cues

Mumbai: The equity benchmark BSE Sensex rose by almost 224 points on Monday on buying in key frontline counters led by metal, banking, auto and energy stocks amid fresh foreign fund inflows. Positi

Read More

Vedanta stock surges 6 per cent post NGT order on Tuticorin unit

The stock, after a positive opening on the NSE, gained 5.80 per cent to the intra-day high of Rs 213.30. New Delhi: Stocks of Vedanta on Monday climbed over 6 per cent after the NGT set aside the Tam

Read More

ICPA seeks long-term fleet expansion plan for Air India

Mumbai: Air India's narrow-body pilots union ICPA has blamed capacity deficiency vis--vis competitors for its plunging domestic market share while seeking a long-term plan for aircraft fleet expansion

Read More

Facebook May Face Billion-Dollar Fine, Pichai Testifies To US Congress: News From Tech And Startup World [Dec 10-16]

The world’s biggest internet companies — Google and Facebook — made the biggest headlines last week. Social media giant Facebook’s data privacy troubles seem to keep multiplying. After the company an

Read More

Flipkart Singapore Fuels India Wholesale Arm With $304 Mn

Flipkart Singapore has reportedly invested $304 Mn (INR 2,190 Cr) in its wholesale arm, Flipkart India Pvt Ltd. This investment comes soon after a $618 Mn (INR 4,472 Cr) infusion in its wholesale arm

Read More

Ninjacart Raises $34.6 Mn In Series B Funding Round To Fuel Expansion Plan

Bengaluru-based agritech startup Ninjacart has raised $34.6 Mn (INR 250 Cr) in a Series B funding round from Accel US, Syngenta Ventures, Neoplux, ZIGxN founder Jo Hirao, HR Capital, and Trifecta Capi

Read More

Flipkart And Amazon Have Been Given Control Of Indian Retail Market, AIOVA Tells Modi

An online sellers’ association representing small and medium businesses has written to Prime Minister Narendra Modi, listing their grievances against ecommerce companies and alleging that small player

Read More

IKEA Invites Growth Stage Startups For Bootcamp Programme

Sweden-based furniture company IKEA has invited 20 growth-stage startups across the globe including India, to participate in its IKEA Bootcamp programme. According to the company, during the three

Read More

Blockchain This Week: The Blockchain Multiverse, Smartphones, Indian Tourism And More

Blockchain technology is at its a core an accounting technology. It provides an immutable record of transactions almost immediately, allowing for continuous auditing and authenticity of data. However

Read More

Everstone, GLP To Invest $500 Mn In India’s Logistics Sector

South East Asia and India-focused private equity firm Everstone is set invest $500 Mn (INR 3,577.5 Cr) in the logistics sector along with global logistics company GLP. The investment will focus on

Read More

Govt likely to make announcement on RBI soon: Finance Secretary

New Delhi: The government is likely to make an announcement regarding Urjit Patel's successor as Reserve Bank of India's Governor later in the day, Finance Secretary A N Jha said. RBI has been rend

Read More

Sensex recovers 190 points, Nifty above 10,500

Mumbai: Benchmark indices pared all early losses to end with robust gains on Tuesday as investors shrugged off Urjit Patel's shock exit from the RBI and dismissed jitters over state election results.

Read More

Rupee falls 32 paise against US dollar in early trade

Mumbai: The Indian rupee on Wednesday plunged 32 paise to 72.17 per US dollar in early trade on the forex market after the appointment of former bureaucrat Shaktikanta Das as the new governor of the R

Read More

Edtech Unicorn BYJU’S Valuation Hits $4 Bn Mark With $328 Mn Funding

Bengaluru-based edtech unicorn BYJU’S has raised a mammoth $328 Mn (INR 2,322.18 Cr) in Series F funding from Canada Pension board’s investment arm CPPIB Investment Board Private Holdings, Naspers Ven

Read More

Tiger Global, Bertelsmann Lead $10 Mn Funding In Short Video Platform Roposo

Gurugram-headquartered video entertainment app Roposo has raised $10 Mn (INR 72 Cr) in a fresh funding round from existing investors Tiger Global and Bertelsmann India Investments. Talking to Inc42

Read More

HCL’s IBM deal puts focus on other IT firms’ moves

Mumbai: HCL Technologies’ announcement of the big fat acquisition of $1.8 billion (Rs 12,700 crore) IBM software products, the largest purchase by an Indian IT services company till date, shifts focus

Read More

Air India floats tender to sell Nariman Point tower

Mumbai: Air India has floated tender for the sale of its iconic 23-storey tower at Nariman Point in Mumbai. Only government entities are allowed to participate in the bidding for acquiring leasehold r

Read More

Markets react to poll results, Sensex tanks 500 points

Mumbai: Benchmark equity indices opened with heavy losses on Tuesday as investors were on edge ahead of the final assembly election results from five states, amid plummeting rupee after RBI Governor U

Read More

UrbanClap To Facilitate ESOPs Repurchase Worth $2 Mn-$2.5 Mn

On-demand home services platform UrbanClap is facilitating an employee stock repurchase programme (ESOP) worth $2 Mn-$2.5 Mn (INR 14 Cr-INR 18 Cr) at $871 (INR 62K) per share. Reportedly, around 50 of

Read More

Banks Lock Horns With Fintech Startups Over Data Security

Leading private banks — HDFC, ICICI, Citi, Standard Chartered and others — have now come together to oppose fintech companies from accessing users banking history for credit scores and reward purposes

Read More

Licious Raises $25 Mn In Series D To Expand Its Meat Delivery Services

Bengaluru-based gourmet meat startup Licious has raised $25 Mn (INR 178.2 Cr) in a Series D funding round led by Japan-based Nichirei Corp. Existing investors 3one4 Capital, Bertelsmann India Investme

Read More

Walmart India Shuffles Top Management, Appoints Sameer Aggarwal As Business Head

Walmart, the US-based retailer, has announced a change in management for its India unit. The company has appointed Sameer Aggarwal as its chief business officer (CBO), while Devendra Chawla, EVP and c

Read More

Money talk: Things nobody tells you about your ATM card

Using an ATM card or debit card almost seemed like a privilege when demonetisation was first announced, and with the possibility of India losing 50 per cent of its ATMs by March 2019, may become even

Read More

Rupee falls 59 paise against US dollar in early trade

Mumbai: The rupee depreciated 59 paise to 71.40 against the US dollar in early trade Monday at the interbank foreign exchange amid strengthening US dollar against some currencies overseas. Forex tr

Read More

Sensex cracks over 550 points; Nifty drops below 10,600

Mumbai: The benchmark BSE Sensex cracked over 550 points on Monday as investors turned jittery over exit poll results ahead of outcome of state elections, weakening rupee and crude oil price rise amid

Read More

OnePlus To Comply With RBI Ruling, To Store User Data Locally

China-based smartphone maker OnePlus has reportedly decided to relocate the data of all Indian users and store it in local servers to comply with the Reserve Bank of India’s (RBI) data localisation ru

Read More

Cryptocurrency This Week: G20 Countries To Regulate Crypto, Bitcoin Mining Bites The Dust And More

During the recent Bitcoin Cash hard-fork, winning ABC camp’s Roger Ver tweeted, “No one wins a war. Some just lose less than others.” Roger had campaigned in support of Bitcoin Cash, while the hard-fo

Read More

Exclusive: Multi-Brand Car Marketplace MYNEWCAR Raises $1 Mn In Funding

Mumbai-based multi-brand car marketplace, MYNEWCAR (.in), has raised $1 Mn (INR 7.1 Cr approx.) in a pre-Series A funding round, sources close to matter told Inc42. The funding has been led by angel i

Read More

Oil's price slide threatens US shale production: Marathon Oil CEO

Signs of weakness in U.S. shale production are beginning to rear their ugly heads amid low global oil prices, according to Gary Heminger, CEO of Marathon Petroleum, the largest U.S. refining company.

Read More

China tells Canada to release Huawei CFO; warns 'correct the mistake'

China on Thursday demanded that Canada release an executive of Chinese tech giant Huawei who was arrested in a case that compounds tensions with the U.S. and threatens to complicate trade talks. Me

Read More

IL&FS Investment Managers' board appoints 2 new additional directors

New Delhi: IL&FS Investment Managers, part of the debt-laden IL&FS group, on Thursday said its board has approved appointment of Nand Kishore and Kaushik Modak as additional directors in the company.

Read More

HPCL to buy Iranian oil in Jan after six-month gap: sources

New Delhi: State-run Indian oil refiner Hindustan Petroleum Corp will buy Iranian crude in January after a gap of six months, with the nation’s overall purchases from Tehran at 9 million barrels in th

Read More

RBI may cut rates by 0.25 pc in Feb or April policy review: BofAML

Mumbai: The Reserve Bank of India (RBI) may cut key policy rates by 0.25 per cent either at the upcoming policy review in February or the one after that in April, Bank of America Merrill Lynch said on

Read More

Rupee rises 46 paise against US dollar in early trade

Mumbai: The rupee appreciated by 46 paise to 70.44 against the US dollar in early trade on Friday at the interbank foreign exchange, amid weakness in the greenback against some currencies overseas and

Read More

Market rebounds on easing crude, firming rupee; HCL Tech cracks 6 pc

Mumbai: The BSE benchmark Sensex rebounded over 200 points to 35,540.49 Friday on fall in global crude oil prices and strengthening rupee against the US dollar. Investors also took positive cues fr

Read More

Electric Vehicles This Week: A Scary Tesla Story, KIA’s India E-Car, And The LA Auto Show

Last week, a California state patrol vehicle spotted a grey Tesla S going at 70 mph (113 kmph) down Highway 101 to Palo Alto in the wee hours of the morning. Suspecting that the driver was unconscious

Read More

Tech execs to gather at White House on Thursday

Top executives from Google, Microsoft, IBM, Oracle and Qualcomm are planning to meet at the White House amid strained ties between President Donald Trump’s administration and the tech industry. The

Read More

Samsung launches Galaxy Note9, S9+ in limited-edition Alpine White, Polaris Blue

Samsung announced new colour editions of its flagships – Galaxy Note9 in limited-edition Alpine White and Galaxy S9+ in a dual tone radiant Polaris Blue colour. These new colour editions have been an

Read More

Mobile calls, internet on flights may start next month

New Delhi: Air passengers may be allowed to make mobile calls and surf the internet during flights in the Indian airspace, possibly from next month, once the law ministry gives its views and approval

Read More

Infosys inaugurates new technology, innovation hub in US

New Delhi: IT firm Infosys on Thursday announced inauguration of its new technology and innovation hub in Hartford in the US. The company also announced that it has hired more than 7,000 American w

Read More

Blockchain This Week: Amazon Does A U-Turn, A Handy Map On Emerging Blockchain Trends And More

“AWS doesn’t build technology because we think it is cool” Last year, this was Amazon Web Services (AWS) CEO Andy Jassy’s reply to a question on his team’s plans for a blockchain service, at the AW

Read More

Naspers Rides High On India Portfolio With PayU Performance, Flipkart Stake Sale

PayU India accounted for more than half the overall business of Netherlands-based PayU, the payments arm of tech investor Naspers. According to the half-yearly financial statement of Naspers, for t

Read More

Uber India Accounts For 11% Of Company’s Total Trips: Report

Uber India reportedly recorded an annualised booking rate of $1.64 Bn (INR 11,651 Cr) in the third quarter, according to an internal email shared by Uber India head Pradeep Parameswaran to CEO Dara Kh

Read More

Fidelity, Nasdaq Ventures invest in cryptocurrency exchange ErisX

New cryptocurrency exchange ErisX said Tuesday it raised a total of USD 27.5 million from investors including Fidelity Investments and Nasdaq Ventures. ErisX says it will offer investors the abilit

Read More

Income Tax dept examining taxation issues in Walmart-Flipkart deal

New Delhi: The Income Tax Department is examining the taxation issues with regard to payments made by Walmart Inc to various shareholders of Flipkart following the acquisition of the e-commerce firm,

Read More

ONGC gets USD 32 million payment from Venezuela's PDVSA

New Delhi: India’s Oil and Natural Gas Corp has received a payment of $32 million from Petroleos de Venezuela (PDVSA) as part of a settlement of outstanding dividend payments and said it now hopes tha

Read More

Ola Not Keen On $1 Bn From SoftBank, May Seek Lower Funding To Retain Control

Japanese conglomerate SoftBank is looking to invest $1 Bn (INR 7036.6 Cr) in ride-hailing company Ola’s next funding round, according to a media report citing people familiar with the development. How

Read More

Ecommerce Cos Don’t Have To Collect Tax From Sellers With Turnover Below $28.4K

The Central Board of Indirect Taxes and Customs (CBIC) has now clarified that ecommerce companies are not liable to collect taxes on goods supplied by companies with an annual turnover of less than $2

Read More

MoEngage Raises $9 Mn In Series B Funding Round Led By Indian VCs

US-based intelligent marketing cloud platform MoEngage has raised $9 Mn (INR 63.4 Cr) in Series B funding round led by Hyderabad-based Ventureast and Mumbai-based Matrix Partners India. The startup sa

Read More

Instagram To Roll Out Shopping Feature In India Next Year

Facebook-owned picture sharing platform Instagram is reportedly planning to roll out its shopping feature in India by 2019, which will allow the users to buy products directly from the app. Citing

Read More

Amazon India Receives $311.5 Mn Shot In The Arm As Ecommerce Battle Continues

Global ecommerce company Amazon has reportedly invested $311.51 Mn (INR 2,200 Cr) in its Indian subsidiary, the fourth tranche of its $5 Bn (INR 35,255 Cr) commitment to its expansion in the country.

Read More

Amazon briefly edges out Apple for most valuable company

Amazon.com briefly became the most valuable company on Wall Street in intraday trade on Monday, days after Microsoft Corp dethroned long-time leader Apple Inc. Amazon rose by 4.7 per cent at one po

Read More

Rupee falls 9 paise against US dollar in early trade

Mumbai: The rupee depreciated by 9 paise to 70.55 against the US dollar in early trade Tuesday at the interbank foreign exchange, amid strengthening of the US dollar and rising crude oil prices. Fo

Read More

Sensex drops over 100 points on weak global cues, rising crude prices

Mumbai: The BSE benchmark Sensex dropped over 100 points in early trade on Tuesday amid mixed cues from other Asian markets, rising crude prices, weak rupee and heavy selling by domestic institutional

Read More

Infibeam Invests In Payments Company To Expand To ‘Offline’ Market

Infibeam Avenues Ltd. which runs payments processing services CCAvenue said it had made a strategic investment in Mumbai-based Instant Global Paytech Private Ltd (IGPL) to build a next-generation paym

Read More

Quora Announces Data Breach Affecting 100 Mn Users Globally

US-based question and answer platform Quora announced that personal data of almost 100 Mn Quora users was breached with a “malicious” third party gaining unauthorised access to one of the company’s sy

Read More

Tata Motors falls; Jaguar Land Rover to temporarily cut jobs at UK plant

Shares of Indian automaker Tata Motors Ltd’s fell on Friday after its British unit Jaguar Land Rover said it is going to cut 500 jobs temporarily at its plant in central England. Shares fell as muc

Read More

Paytm offers instant, on-demand settlement to partner merchants

New Delhi: Digital payment firm Paytm on Thursday said it would settle payment with merchants either immediately or at a time desired by them. "Earlier, we offered next-day settlement to our partne

Read More

Forex reserves down by USD 795 million to USD 392.78 billion

Mumbai: The country's foreign exchange reserves dropped by USD 795 million to USD 392.785 billion in the week to November 23 due to a decline in foreign currency assets, according to RBI data. In t

Read More

Sensex ends marginally higher; posts weekly gain

Mumbai: The BSE Sensex pared initial gains on Friday to end modestly higher at 36,194.30 points on profit-booking at higher levels amid mixed global cues. Trading sentiment was mixed ahead of the t

Read More

Walmart-Flipkart Deal: I-T Dept Slams Notices On Flipkart Shareholders Abroad

The Income Tax (I-T) Department has issued notices to overseas shareholders of Flipkart who sold their stakes partly or fully during the $16 Bn Walmart takeover of the homegrown ecommerce company. The

Read More

Zomato Looks To Mid-Tier Towns For Growth, To Hire 5,000 Delivery Partners

Homegrown foodtech unicorn Zomato has announced its plans to launch its online ordering and food delivery services in 30 more cities over the next week. The new cities include Puducherry, Jamshedpur,

Read More

Hotel Owners Across The Country Are Banding Together Against OYO. Here’s Why

Indian hospitality chain OYO with its unicorn tag and marquee investors is now facing the brunt of budget and mid-market hotels across the country, which are claiming that their businesses are sufferi

Read More

Goyal agrees to sell controlling stake in Jet Airways

New Delhi: Finding it hard to save the airline in the face of severe cash crunch, promoter Naresh Goyal is ready to relinquish his controlling stake in Jet Airways to prospective investors. Industry s

Read More

ICICI bank plans to grow retail loan portfolio in FY 18-19

Chennai: Private sector ICICI Bank has chalked out aggressive plans to grow its retail loan portfolio in Tamil Nadu by over 40 per cent to Rs 13,000 crore during current financial year, a top official

Read More

Adani Group to fully fund troubled Carmichael coal mine

India’s Adani Enterprises will fully fund its controversial Carmichael coal mine and rail project in Australia, Adani Mining Chief Executive Lucas Dow said on Thursday, according to a statement from t

Read More

Sensex soars over 350 points on global cues, F&O expiry

Mumbai: The benchmark BSE Sensex surged over 350 points and the NSE Nifty reclaimed the 10,800 mark in early trade on Thursday on positive trend in other Asian bourses as dovish comments from US Feder

Read More

BoB, Dena, Vijaya Bank to start operations from April 1

New Delhi: The second big merger of state lenders by the Narendra Modi government will be completed this financial year and the merged bank will start operations from the new fiscal. Sources said t

Read More

Drivezy Rides Expansion Wave With $20 Mn Equity, $100 Mn Asset Financing Deal

Bengaluru-based vehicle sharing marketplace Drivezy has raised $20 Mn in Series B equity funding, led by existing investor Das Capital. Other investors who participated in the round include Yamaha Mot

Read More

Quikr Launches Quikr Assured To Build Trust In Used Products Market

Bengaluru-based online classifieds marketplace Quikr has announced the launch of Quikr Assured to win the trust of customers when choosing used products. Under the Quikr Assured scheme, the company

Read More

EV Motors India To Set Up 6500 Charging Stations In 5 Years

Noida-based electric vehicle startup EV Motors India is reportedly planning to raise a funding of about $200 Mn to set up nearly 6,500 electric vehicle charging stations in India within the next five

Read More

Japan's Line jumps 17 percent after Nikkei reports Tencent tie-up

TOKYO (Reuters) - Line Corp shares jumped as much as 17 percent on Tuesday after the Nikkei business daily reported the Japanese chat app operator would tie-up with China's Tencent Holdings Ltd to off

Read More

IL&FS gets more than a dozen expressions of interest to buy stakes in two units

Mumbai: India’s debt-laden Infrastructure Leasing & Financial Services (IL&FS) said on Monday it received more than a dozen expressions of interest for its stakes in subsidiaries IL&FS Securities Serv

Read More

Crisis-hit Jet Airways fires 16 more people to cut cost

New Delhi: Struggling to stay afloat in the face of strong headwinds, the Naresh Goyal controlled Jet Airways has handed out pink slip to 16 more staff in its bid to reduce cost. Industry sources said

Read More

Sensex logs 1st gain in four sessions, soars 373 points

Mumbai: Breaking its three-session losing spree, the BSE benchmark Sensex surged over 373 points on emergence of buying mainly in auto, FMCG and banking stocks as sustained recovery in rupee and moder

Read More

Rupee sheds 15 paise against US dollar in early trade

Mumbai: The rupee depreciated by 15 paise to 71.02 against the US dollar in early trade on Tuesday at the interbank foreign exchange, after US President Donald Trump suggested a tariff hike on Chinese

Read More

Toyota to hike prices of vehicles across models from January 1

New Delhi: Toyota Kirloskar Motor on Tuesday said it will increase prices of its vehicles across models by up to 4 per cent from January 1, 2019, to offset increasing manufacturing costs due to rupee

Read More

Cryptocurrency This Week: Indian Govt’s Submission In Supreme Court, Bitcoin Cash War And More

At a time when Venezuelans and Argentinians have been fast moving from their local currencies — Bolivar and Peso — to cryptocurrencies, especially Bitcoin, the latter too has been on a down slide for

Read More

Govt Increases Outlay For FAME I Electric Vehicle Plan To $126.74 Mn

In a gazette notification, the Ministry of Heavy Industries and Public Enterprises said that the government has increased the outlay for the first phase of Faster Adoption and Manufacturing of Hybrid

Read More

Outgoing Facebook exec takes fall for hiring opposition firm

Facebook’s outgoing head of communications is taking the blame for hiring Definers, the public relations firm doing opposition research on the company’s critics, including billionaire philanthropist G

Read More

Airtel Africa appoints eight global Banks to work on IPO

New Delhi: Bharti Airtel's Africa business arm Monday announced the appointment of eight global banks including J P Morgan, Citigroup and Goldman Sachs to work on its initial public offer plan. "Ai

Read More

'Oil PSUs plan to add 4,450 petrol pumps in Gujarat'

Ahmedabad: Public sector firms Indian Oil, Bharat Petroleum and Hindustan Petroleum plan to add 4,450 retail outlets across Gujarat in a bid to expand its network and meet growing fuel needs, an offic

Read More

Rupee rises 39 paise against US dollar in early trade

Rupee is trading at 30 against dollar, as global crude prices slipped below the USD 60 per barrel mark. Mumbai: Rising for the eighth straight day, the rupee climbed 39 paise to 70.30 against the US

Read More

Personalised Mobile Investment App CashRich Raises $1 Mn

Mumbai-based wealth management startup CashRich has raised $1 Mn in equity funding from three UK-based angel investors. The company plans to use the funds to develop its Dynamic Systematic Investme

Read More

Omidyar, Accel Place $11 Mn Bet On Edtech Startup Vedantu

Bengaluru-based online tutoring startup Vedantu has raised $11 Mn in a Series B funding round led by philanthropic investment firm Omidyar Network, with participation from existing investor venture ca

Read More

Cryptocurrency Trading: Finance Ministry Defends RBI’s Concerns In Supreme Court

In a counter affidavit to a two-judge Supreme Court bench hearing a batch of cases on the legitimacy of cryptocurrency in India, the finance ministry defended the Reserve Bank of India’s (RBI) ban on

Read More

ONGC ordered to pay Rs 242 crore to Mumbai Port Trust

New Delhi: Oil and Natural Gas Corporation (ONGC) has been ordered to pay about Rs 242 crore to the Mumbai Port Trust (MbPT) as wharfage compensation for the transportation of crude oil through the tw

Read More

Jet Airways' independent director Ranjan Mathai resigns

Debt-laden carrier Jet Airways (India) Ltd’s independent director Ranjan Mathai resigned late on Thursday, citing rising pressure from other commitments. The departure comes as the airline struggle

Read More

Gold tops Rs 32,000-mark on jewellers' buying, global cues

New Delhi: Gold went past the Rs 32,000-mark by gaining Rs 90 to trade at Rs 32,040 per 10 gram at the bullion market on Thursday on fresh buying by local jewellers amid a firm trend overseas. Silv

Read More

BoB board to consider allotment of shares to staff next week

New Delhi: Bank of Baroda (BoB) Thursday said its board will meet next week to consider allotment of fresh shares under the employee stock purchase scheme. "The board of directors of the bank is sc

Read More

Flipkart-Walmart Deal: Income Tax Dept Issues Notice To Bansals, 35 Other Stakeholders

Flipkart cofounders, Sachin Bansal and Binny Bansal, after ending the decade-long stint with the company, are now struggling to make their way out of the after-effects of the deal. The duo, along with

Read More

LinkedIn Launches Salary Feature In India, Says Bengaluru Professionals Highest Paid

US-based professional networking platform LinkedIn, launched LinkedIn Salary in India, which will provide users detailed salary trends for different professions. As salary negotiations are traditio

Read More

Quikr Almost Doubles Revenue In FY18, Says Will Breakeven By Next Year

Bengaluru-based online classifieds and services portal Quikr India Pvt Ltd reported a consolidated revenue of $24.54 Mn (INR 173.49 Cr) for the year ending March 2018, a jump of 95% from its revenue f

Read More

Amazon says error exposed customer names and emails

Amazon says a technical error on its website exposed the names and email addresses of some customers. The online retail giant says it has fixed the issue and emailed those affected. Amazon says its

Read More

Experimental plane flies silently, may lead to quiet drones

A nearly silent, drone-sized aircraft has shown it can fly, thanks to a scientist who was inspired by watching "Star Trek" as a child. With neither propellers nor jets, the aeroplane gets its thrus

Read More

Panasonic eyes Rs 140 crore sales from bluetooth trackers business

New Delhi: Japanese tech giant Panasonic Wednesday said it expects to clock sales to the tune of Rs 140 crore in the next one year from its bluetooth-based trackers that have been conceptualised and d

Read More

Aviation, oil marketing cos rise on lower global crude oil prices

New Delhi: Shares of aviation and oil marketing companies surged up to 6 per cent on Wednesday due to sharp drop in global crude oil prices. The scrip of SpiceJet soared 5.63 per cent, Jet Airways

Read More

Half of India’s ATMs may close down by March 2019

Bengaluru: Just 2.38 lakh ATMs for a country of 1.3 billion! If that’s bad enough, here comes the worst. Over 50 per cent of the ATMs are going to shut down by March 2019. The worst impacted of the cl

Read More

With 81.3% Equity Stake In Flipkart, Walmart May Bring New Investors On Board

The US-based global retail giant Walmart has reportedly increased its share in recently acquired Indian ecommerce subsidiary Flipkart to 81.3%. Earlier in May this year, Walmart acquired 77% stake in

Read More

Air India revives plans to raise Rs 500 cr; to mop up Rs 6,100 cr from aircraft sale

Mumbai: Debt-ridden Air India has revived its plans to raise Rs 500 crore in short-term loans (STLs) besides mopping up another Rs 6,100 crore by way of sale and lease back of seven of its wide-body p

Read More

Agro exports can grow to USD 100 billion by 2022

New Delhi: Indian agro-exports valued $38.74 billion have a potential to grow to $100 billion by 2022 — if the export sector capitalises the opportunity opened up with the trade war between the US and

Read More

Bitcoin for payments a distant dream as usage dries up

The use of bitcoin for commercial payments has dropped dramatically this year, even as the original digital coin starts to fulfil one of the basic features of any payment currency: stability. The v

Read More

Global fall may bring petrol, diesel prices at same level soon

New Delhi: Even without state support, transport fuels — petrol and diesel — may soon be uniformly priced across the country if the current trend of sharper fall in global petrol prices is maintained

Read More

JK International Chairman Akshaypat Singhania To Invest $14 Mn In Startups

Mumbai-based industrialist Akshaypat Singhania is reportedly allocating $14.01 Mn (INR 100 Cr) for supporting early stage startups which are operating in the media and entertainment, lifestyle, food a

Read More

SAIF Partners, Axilor, Others Invest $3.3 Mn In IoT Startup DeTect Technologies

Chennai-headquartered Internet of Things (IoT) startup DeTect Technologies has raised $3.3 Mn in Series A funding from SAIF Partners, Bharat Innovation Fund, Axilor Ventures, BlueHill Capital Pvt Ltd,

Read More

SoftBank May Invest $450 Mn In Delhivery To Make It A Unicorn

Gurugram-based ecommerce logistics company Delhivery may soon join the unicorn club with a fresh round of funding from Softbank; talks on the investment are reportedly in the final stage. A media r

Read More

Bitcoin breaches USD 5,000, plumbs fresh 13-month low

Bitcoin fell below USD 5,000 on Monday for the first time in over a year, slumping to a fresh 13-month low on the Bitstamp platform as a broad sell-off in cryptocurrencies sparked last week gathered m

Read More

Google-Temasek study sees USD 240 billion Southeast Asia internet economy by 2025

Southeast Asia’s internet economy is expected to exceed USD 240 billion by 2025, a joint study by Google and Temasek Holdings showed, a fifth more than previously estimated, as more consumers use thei

Read More

E-commerce poster boy Flipkart stares at mass exodus

Bangaluru: Something is not quite right at the country’s e-com rockstar, Flipkart, after it hit a $16 billion Walmart jackpot in May this year. If sheer data is anything to go by, over 6,500 employ

Read More

RBI decision to extend timeline for banks to meet capital norms 'credit negative'

New Delhi: Moody's Investors Service on Tuesday said RBI board's decision to extend the timeline for banks to implement Basel 3 guidelines is “credit negative” for public sector lenders. Also, the

Read More

Sensex drops over 100 points on global selloff, profit-booking

Mumbai: The benchmark BSE Sensex fell over 100 points in early session on Tuesday, breaking its three-day winning run as metal, IT, realty and banking stocks retreated, tracking sell-off in the global

Read More

Tatas to go slow on deal to acquire debt-laden Jet Airways: reports

Indian conglomerate Tata Sons Ltd will go slow on a deal to buy Jet Airways (India) Ltd after some directors expressed reservations at an inconclusive board meeting last Friday, the Times of India rep

Read More

SoftBank Vision Fund Invests $300 Mn In Robotics Tech Platform Automation Anywhere

A robotic process automation company called Automation Anywhere has raised $300 Mn from the SoftBank Vision Fund. The California-based company, which was founded in 2003 by four co-founders of Indi

Read More

Visa Strengthens India Play With Investment In BillDesk

Mumbai-based payments gateway BillDesk has raised an undisclosed amount of funding from global payments technology company Visa to develop new product lines for its payments and loyalty businesses and

Read More

Sensex rises over 150 points ahead of RBI board meet

Mumbai: The benchmark BSE Sensex surged over 150 points and the broader NSE Nifty went past the 10,700 mark in opening trade Monday on the back of widespread gains ahead of the Reserve Bank of India's

Read More

Thai proposal for all-powerful cyber agency alarms businesses, activists

A proposed cybersecurity law in Thailand would give a new government agency sweeping powers to spy on internet traffic, order the removal of content, or even seize computers without judicial oversight

Read More

Facebook says it’s better at detecting rule violations

The findings were spelled out Thursday in Facebook’s second semiannual report on enforcing community standards. Facebook said it’s making progress on detecting hate speech, graphic violence and other

Read More

Deep Kalra On Why Indian Startup Ecosystem Doesn’t Produce Jack Mas and Mark Zuckerbergs

In the aftermath of its acquisition by Walmart, India’s most-funded startup, Flipkart, witnessed the ‘unwilling’ ouster of its founders — Sachin Bansal and Binny Bansal — one after the other, for not-

Read More

Movers And Shakers Of The Week [12-17 November 2018]

Flipkart co-founder Binny Bansal resigned from his position as the chief executive and chairman for Flipkart Group Walmart said that Bansal’s decision to step down from the post came in after an in

Read More

Cryptocurrency This Week: IMF Advocates Fiat Cryptocurrencies And More

Bitcoin, in its game of Snakes and Ladder, has been running into snakes only, and one after the other. This week was no different. The cryptocurrency plunged by $1,000 to $5.3K on November 15, after m

Read More

Walmart Passes Apple As No 3 Retailer In US: News From Tech & Startup World [Nov 12-18]

Electric vehicle maker Tesla has started taking orders for the Model 3 in China. In a tweet, Tesla CEO Elon Musk had announced that some of the deliveries may “begin in March however April is more cer

Read More

Oil slump may be enough to squash ‘peak earnings’ fears

(Reuters) - American Railcar Industries Inc, majority-owned by billionaire investor Carl Icahn, is selling itself to ITE Rail Fund in a $1.75 billion deal including debt, the company said on Monday.

Read More

Reliance pips TCS to become most-valued firm on D-Street

New Delhi: Reliance Industries (RIL) Friday rallied over 2 per cent helping the oil-to-telecom major pip Tata Consultancy Services (TCS) to become the most-valued company in terms of market capitalisa

Read More

Sensex, Nifty end higher for 2nd session on strong fund inflow, firm rupee

Mumbai: The BSE Sensex on Friday continued its rising streak for the second day to end at near a four-week high of 35,436.33, fuelled by gains in Reliance Industries and other blue-chips amid continue

Read More

Praising notes ban, RBI's Gurumurthy says economy would have collapsed

New Delhi: Ahead of next week's crucial board meeting of RBI, the central bank's independent director and RSS ideologue S Gurumurthy on Thursday made a case for calibration of its massive Rs 9.6 lakh

Read More

ONGC frames strategy for higher output growth

New Delhi: Oil and Natural Gas Corp (ONGC), India's largest vertically integrated oil company, is looking at production enhancement contracts (PECs) and enhanced oil recovery techniques to boost oil a

Read More

India's first engine-less train, Train 18, to go on trial run today

New Delhi: The maiden trial run of country’s first engine-less train will be conducted today on Bareilly-Moradabad section on a standard railway track. ‘Train 18’, developed by the Integral Coach F

Read More

US senator to query Facebook about report on treatment of critics

A Democratic US senator said on Thursday she will ask Facebook Inc and the Justice Department about a media report that the company hired an outside firm to attack critics, warning that such action co

Read More

Facebook defends Russia response, updates plan to curb misbehavior

Facebook Inc Chairman and Chief Executive Mark Zuckerberg on Thursday defended his response to Russian election meddling on the world’s largest social media network and issued a new plan aimed at stif

Read More

Silicon eyed as way to boost electric car battery potential

The race to build a better electric car battery is turning to silicon, with several companies working to engineer types of the material that can boost driving range and cut production costs. About

Read More

Tata Sons board may meet on Friday to decide on Jet Airways takeover

Mumbai: The board of Tata Sons is likely to meet on Friday to discuss a proposal to take over the Naresh Goyal-controlled Jet Airways, which is looking for investors to tide over liquidity crunch that

Read More

Sensex jumps over 150 points on funds inflow, global cues

Mumbai: Domestic equities opened on a firm note on Friday as the benchmark BSE Sensex surged over 150 points on the back of continued foreign fund inflow and appreciating rupee. Positive leads from

Read More

After Effects Of Binny’s Exit: Myntra Leads Resign, Flipkart Sr. Executives & Jabong Jobs At Risk

Post the resignation of Flipkart Group CEO Binny Bansal over a ‘personal misconduct’ issue raised by Walmart, the company has entered into the restructuring mode. While the leads from several departme

Read More

Vodafone Idea to pump in Rs 25,000 crore, reports Rs 4,973 crore loss

Mumbai: In its maiden earnings announcement as a joint entity, Vodafone Idea on Wednesday reported a consolidated loss of Rs 4,973 crore for the September quarter and announced a fund infusion of Rs 2

Read More

Sensex rises over 100 points on fresh fund inflow, strong rupee

Mumbai: The BSE benchmark Sensex rose over 100 points to 35,257.88 and the NSE Nifty regained 10,600-mark on Thursday backed by gains in auto, pharma, energy and financial stocks amid fresh foreign fu

Read More

Infosys to hire 500 American techies in Texas

Bengaluru: Tech major Infosys will hire 500 American workers in Texas where the company is setting up a Technology and Innovation Hub, a specialised facility for telecommunications, retail and banking

Read More

Rupee rises 24 paise against USD on fresh fund inflow, easing crude prices

Mumbai: The rupee appreciated 24 paise to 72.07 against the US dollar at the interbank foreign exchange on Thursday on fresh foreign fund inflows and easing crude oil prices. Foreign institutional

Read More

WhatsApp Commits $1 Mn To Research Spread Of Misinformation

Messaging platform WhatsApp committed $1Mn for research on how the app is misused for misinformation, as pressure mounts by governments on the Facebook-owned company to find a solution for fake news.

Read More

Swiggy’s Latest Funding Round May Deliver Super Quick Returns To Early Investors

Swiggy’s upcoming funding round may include about $300 Mn worth of secondary share sales by some of the Bengaluru-based company’s early investors, reports said. The latest round of funding, which i

Read More

Logistics Player FarEye Acquires Dipper To Create Digital Freight Ecosystem

New Delhi-based logistics management startup FarEye has acquired Dipper Technologies, an internet-of-things (IoT) platform that provides visibility and predictability in freight movement. The compa

Read More

Self Checkout App Perpule Raises $4.7 Mn In Series A Funding

Bengaluru-based omnichannel retail tech startup Perpule raised $4.7 Mn in Series A funding from Prime Venture Partners, Kalaari Capital and Venture Highway. Founded by Abhinav Pathak, Saketh BSV, a

Read More

Nigerian ISP’s configuration error disrupted Google services

A Nigerian internet service provider said Tuesday that a configuration error it made during a network upgrade caused a disruption of key Google services, routing traffic to China and Russia. Prior

Read More

WhatsApp to delete your data

WhatsApp has confirmed that users who have not yet backed up their WhatsApp chat and media on Google Drive will lose it. The popular communication platform, WhatsApp has confirmed that users who have

Read More

Snap reveals US subpoenas on IPO disclosures

The US Justice Department and Securities and Exchange Commission have subpoenaed Snap Inc for information about its March 2017 initial public offering, the social media app maker told Reuters on Tuesd

Read More

IHH assumes control of Fortis, board approves Rs 4,000 cr preferential allotment

New Delhi: The board of Fortis Healthcare on November 13 approved a preferential allotment of 23,52,94,117 equity shares to Northern TK Venture, a wholly-owned subsidiary of IHH Healthcare, at Rs 170

Read More

Chandras to sell 50 pc of Zee Entertainment, reap Rs 8,758 crore

Mumbai: Media baron Subhash Chandra-owned Zee Group is looking to sell up to half of its stake in Zee Entertainment Enterprises to a strategic partner. In a filing to stock exchange on Tuesday, the gr

Read More

Amazon Wholesale’s Revenues Jump By 73% For FY18

Amazon Wholesale, the US-based ecommerce giant’s Indian Business-to-Business (B2B) platform, reportedly raked in revenue of $1.68 Bn (INR 12,224 Cr) in FY18, up 73% from $970 Mn (INR 7047 Cr) in FY17

Read More

Walmart-Flipkart Deal: NCLAT To Hear CAIT’s Appeal On December 14

After months of completion of global retailer Walmart’s $16 Bn acquisition of Indian etailer Flipkart, the traders’ community is still pushing up its last attempts to stop the deal. National Compan

Read More

Flipkart CEO Binny Bansal Resigns Following ‘Personal Misconduct’ Allegation

Flipkart co-founder Binny Bansal resigned as the CEO of the Flipkart Group today (November 13) with immediate effect following an allegation of ” serious personal misconduct”, according to a statement

Read More

Niti Aayog to hold meeting with digital payments industry on KYC issue

New Delhi: Niti Aayog will hold a meeting with all the stakeholders in digital payments industry over customer authentication issue after the Supreme Court verdict that restricted the use of Aadhaar d

Read More

Little respite from high fuel costs despite falling crude oil prices

New Delhi: Despite crude oil prices falling by over 20 per cent in the last one month, the common man continues to pay high prices for petrol and diesel. While the Indian basket of crude has been hove

Read More

Tata Sons begins due diligence to buy Jet Airways: report

Mumbai: Indian conglomerate Tata Sons is conducting due diligence on Jet Airways as it explores the purchase of a controlling stake in the cash-strapped airline, Mint newspaper reported on Tuesday cit

Read More

Industrial growth slips to 4-month low of 4.5 per cent in Sept

New Delhi: Industrial production grew at the slowest pace in four months at 4.5 per cent in September mainly due to poor performance of mining sector and lower offtake of capital goods. The industrial

Read More

Honda Plans Electric Vehicle Rollout By 2023-24, Not Waiting For Policy Roadmap

Japanese automaker Honda Motor is planning to roll out its electric vehicle (EV) in the Indian market by 2023-2024, adding that the company will no longer wait for the government to layout a policy ro

Read More

After DCGI Rap, Ecommerce Cos Commit To Prevent Sale Of Fake Cosmetics

In a meeting with the Drug Controller General of India (DCGI), ecommerce companies like Amazon and Flipkart have reportedly promised to prevent the sale of “unregulated and fake cosmetics.” The inc

Read More

Alibaba’s Singles Day Sales Hit $30 Bn, Dwarfs India’s Festive Season Sales

At the time when Indian ecommerce players bask in the afterglow of their festive season sales— which collectively recorded $2.3 Bn in Gross Merchandise Value — China’s largest ecommerce company Aliba

Read More

Govt may sell 149 ONGC fields to private firms

New Delhi: The government is mulling selling as many as 149 small and marginal oil and gas fields of ONGC to private and foreign companies and allow the state-owned firm to focus only on big fields, s

Read More

Sensex, Nifty back in green, all eyes on macro data

Mumbai: The BSE benchmark Sensex recovered by over 155 points and the NSE Nifty breached the 10,600-mark in opening trade on Monday on fresh buying by investors, ahead of release of macroeconomic data

Read More

CCI Rejects Price-Fixing Allegations Against Cab Aggregators Ola And Uber

In its order dated November 6, 2018, fair trade regulator Competition Commission of India (CCI) has rejected the allegations of price-fixing made against the two leading cab aggregators Ola and Uber.

Read More

CCI Gives Flipkart Clean Chit In Anti-Competition Case, Seller Lobby Cries Foul

Hearing a complaint against Flipkart by a lobby group representing online sellers, the Competition Commission of India (CCI) has ruled that Flipkart has not broken any rules in its selection of mercha

Read More

India’s Volume Of Monthly Digital Transactions Rise Three Fold Since Demonetisation

The number of digital payment transactions that took place in August was recorded at 244.81 Cr, a three-fold increase from October 2016, a Ministry of Electronics and Information Technology (MeitY) re

Read More

Ecommerce Companies Miss November 10 Deadline To Deposit TCS

Ecommerce companies may face penalties for missing a November 10 deadline to deposit tax deducted at source (TCS) on payments made to their sellers. However, according to reports, several companies ha

Read More

Amazon Infuses $30 Mn In Amazon Pay

Global ecommerce company Amazon continues to invest heavily in India and has announced a fresh infusion of $30.35 Mn (INR 220 Cr) into its digital payments arm— Amazon Pay. The development comes cl

Read More

GST refunds of Rs 82,775 crore to exporters cleared; Rs 5,400 crore pending as on October 31

The finance ministry said on Thursday that GST refund of Rs 82,775 crore to exporters has been cleared as on October 31, which is 93.8 per cent of the total such claims with the tax authorities.

Read More

South Korean lawyers press govt for cryptocurrency laws, investor protection

South Korea’s lawyers lobbied the government on Thursday to quickly establish a legal framework to help develop the blockchain-based virtual currency industry and protect investors. It is rare for

Read More

JSW Steel crude steel output grows 8 per cent in Oct

New Delhi: JSW Steel on Thursday said its crude steel output grew 7.7 per cent to 14.47 lakh tonne during October 2018. The Sajjan Jindal-led company had produced 13.43 lakh tonne crude steel in Oc

Read More

Sensex down over 100 points on weak global cues

Mumbai: Benchmark stock indices opened on a negative note Friday following weak global cues after the US Federal Reserve left key interest rates on hold last night, but hinted a rate hike next month.

Read More

Amazon Debuts Audible In India, Offers Introductory Pricing, Regional Content

Expanding its raft of services in the country, US-based ecommerce company Amazon has launched its subscription-based audio book service called Audible, in India. The service while still in beta mode,

Read More

Snapdeal’s Shift In Strategy Pays Off, Trims Losses By 87% In FY18

Snapdeal is back on track. In FY18, the company trimmed its losses by 87%, recording a loss of $84.7 Mn (INR 613 Cr) in comparison to $642 Mn (INR 4,647.1 Cr) in FY17, on a consolidated basis, as it s

Read More

UNCTAD, Alibaba Enrolls Fourth Batch In eFounders Fellowship Programme

The United Nations Conference on Trade and Development (UNCTAD) in association with Alibaba Business School has enrolled its class four of entrepreneurs in a bid to empower them to build sustainable s

Read More

Jet Airways shares continue to gain amid reports of deal talks with Tata Group

New Delhi: Shares of Jet Airways further rose by 2 per cent on Tuesday amid reports of initiation of second round of talks with Tata Group for a deal. Jet Airways, however, termed the reports as "s

Read More

HDFC Bank hikes deposit rates; BoB raises lending rate

New Delhi: Signalling tightening of rates, HDFC Bank on Tuesday raised interest rates on deposits by up to 0.5 per cent for various tenors, while Bank of Baroda hiked lending rates by 0.1 per cent.

Read More

Flipkart, OYO Gains Augment SoftBank’s Q2 Profits

After reporting a loss of nearly $1.4 Bn on its Indian investments in May 2017, Softbank’s tech investment unit, Softbank Vision Fund, is finally seeing a reversal in its fortunes. In the first qua

Read More

Walmart Invests $37 Mn In Indian Unit As Battle For Retail Sector Continues

To expand its presence in India, Walmart Investments Cooperative U.A, Amsterdam, invested $37.68 Mn (INR 275 Cr) into its Indian subsidiary Wal-Mart India Pvt Ltd, according to a filing with the Minis

Read More

Amazon Pumps $16.7 Mn Into Logistics Arm To Upscale Delivery Services

With the wave of festive season sales rolling in, US-based ecommerce company Amazon, has invested $16.7 Mn (INR 122 Cr) in its logistics arm Amazon Transportation Services (ATS). Till date, Amazon

Read More

Ola Starts Operations In New Zealand, After Australia, UK

Homegrown ride hailing company Ola, has now announced that it has launched its services in New Zealand and is offering rides to Auckland, Wellington and Christchurch. The company had announced its

Read More

Indo-European Business Forum 2018 Launches Acceler8 Startup Summit

The Indo-European Business Forum (IEBF), an independent organisation facilitating a two-way flow of trade and investment between India and EU member countries, launched its startup Summit – ‘Acceler8’

Read More

Ola accelerates international expansion with New Zealand foray

New Delhi: After Australia and the UK, Indian ride-hailing company Ola is now foraying into New Zealand and will offer it's services in Auckland, Wellington and Christchurch. The company, which sta

Read More

SBI net profit slips 69 per cent to Rs 576 crore in Q2

New Delhi: The country's largest lender SBI Monday reported 69 per cent decline in consolidated net profit to Rs 576.46 crore in the second quarter ended September 30. The bank's net profit was Rs

Read More

Sensex rises over 200 points, Nifty above 10,550

The National Stock Exchange's Nifty too was trading higher by 54.90 points, or 0.52 per cent at 10,578.90. Mumbai: The BSE Sensex regained the 35,000-mark by recovering over 200 points at the start o

Read More

China’s Shunwei Capital Raises $1.21 Bn Fund With Focus On India

As business alignments of India and China continue to come closer, the investment landscape continues to lead the chart in the list of synergies. At the time when players like hotel aggregator chain O

Read More

Amazon May Close Future Retail Deal Next Week With 9.5% Stake

With an active pursuit of making a bigger mark in Indian retail, global ecommerce company Amazon looks closer to buying 9.5% stake in Kishore Biyani’s Future Retail in a deal nearly worth $342.86 Mn (

Read More

China’s ByteDance Tweaks App Name, Design After ShareChat Takes It To Court

Chinese content aggregator ByteDance has changed the design of its Indian language content app, Helo, and also tweaked its description on Google Play Store to ‘Share, Follow & Chat’, after the Delhi H

Read More

Impact Investor Aavishkaar To Raise $300 Mn Fund, Eyes Vietnam, Indonesia Startups

Impact investor and advisor Aavishkaar Group is looking to raise $300 Mn for its South Asia-focused fund early next year to invest in Vietnam, Indonesia, Myanmar and Laos among others. “We are avoi

Read More

About 1 In 5 Online Shoppers Received Fake Products: Survey

As the festive season ignites a surge in sales for ecommerce sellers, marketplaces, as well as a frenzy of buying by shoppers, a recent survey by LocalCircles, has highlighted other side of the glitz

Read More

Chinese chipmaker's ambitions hit hurdle with US indictment

Chinese state-backed semiconductor maker Fujian Jinhua Integrated Circuit Co Ltd billed itself as a national leader in the tech industry. It planned to drive a shift towards locally made chips and end

Read More

China's e-commerce rivals seek luxury stranglehold

China’s online giants Alibaba and JD.com are taking their battle for relevance in the lucrative luxury goods market to a new level, as they aim to crack e-commerce tie-ups with top brands that usually

Read More

Sensex slips below 35,000 in early trade, drops 100 points

Mumbai: The benchmark Sensex slipped below the 35,000-mark by dropping over 100 points to 34,911.11 in early trade on Monday after banking, metal and auto stocks declined following weak global cues an

Read More

Petrol price cut by 22 paise; total reduction reaches Rs 4.06 in 19 days

New Delhi: Petrol price has been cut by over Rs 4 per litre and diesel by Rs 2.33 in the last 18 days on softer international rates, a pace faster than the spike in prices witnessed in the two-month p

Read More

SBI puts up 11 NPA accounts for sale to recover Rs 1,019 crore

SBI has reported a hefty loss of Rs 4,876 crore for the June quarter due to higher NPAs or bad loans. New Delhi: SBI has put up 11 non-performing assets (NPAs) for sale to ARCs and financial companie

Read More

Cryptocurrency This Week: Coinbase Valued At $8 Bn, Bitcoin To Raise Global Temperature By 2°C And More

In crypto world, there has always been some kind of storm. Bitcoin, even after 10 years since its inception, has always been caught in the storm; be it, legal battles being fought across the world

Read More

Alibaba Records Drop In Revenue: News From Tech & Startup World [Oct 29-Nov 4]

US-based ecommerce company Amazon’s business unit which primarily consists of advertising revenue recorded nearly $2.5 Bn in sales in three months as it announced its third quarter results. According

Read More

Sensex climbs 580 points; banking, auto shares steal the show

Mumbai: Market benchmark Sensex soared almost 580 points to end at a one-month high of 35,011.65 on Friday, propelled by financials and auto stocks, amid cooling global crude prices, rising rupee and

Read More

Axis Bank Q2 net profit jumps 83 per cent to Rs 790 crore

New Delhi: Private lender Axis Bank on Friday reported a 83 per cent jump in its net profit at Rs 790 crore for the quarter ending September on the back of healthily growth in core income and a declin

Read More

IOC Q2 profit drops 12.6 per cent on forex losses, low margins

New Delhi: Indian Oil Corp (IOC), the nation's biggest company, on Friday reported a 12.6 per cent drop in its second-quarter net profit on the back of foreign exchange losses and lower refining margi

Read More

Mastercard Protests PM Modi’s Promotion Of Homegrown Card Network RuPay

The debate on nationalism has reached unlikely quarters as global card payments company Mastercard complained to the US authorities that Prime Minister Narendra Modi’s promotion of domestic card netwo

Read More

WhatsApp Partners With Invest India To Support Indian Startups

National investment promotion and facilitation agency, Invest India, has partnered with WhatsApp to promote India’s startup ecosystem and generate job opportunities in India. Together, they will or

Read More

Google Home Assistant Goes Desi, Adds Hindi To Its Regional Language Cart

Seven months after introducing its voice-based assistants — Google Home and Home Mini — in India, Google has now added Hindi as an official communication mode to its smart speaker range. In a blog

Read More

Ex-Snapdeal CIO And ‘Turnaround Expert’ Jason Kothari Quits Infibeam

In less than six months of a stint as the president of Ahmedabad-headquartered Infibeam, ex-Snapdeal Chief Investment Officer, Jason Kothari, has called it quits with the company. In a corporate fi

Read More

US indicts Chinese, Taiwan firms for targeting Micron trade secrets

The US Justice Department on Thursday unveiled an indictment against two companies based in China and Taiwan and three individuals, saying they conspired to steal trade secrets from US semiconductor c

Read More

Sensex rallies over 400 points on strong global cues, falling crude prices

Mumbai: The BSE benchmark Sensex on Friday soared over 413 points to 34,845.15 and the NSE Nifty raced past 10,500 on widespread gains amid fresh foreign fund inflows, fall in global crude prices and

Read More

Twitter India Posts 14% Decline In Revenues In FY18

Twitter Communications India has announced a 14% decline in its revenues for fiscal year ending March 2018. According to company filings with the Registrar of Companies, the company earned a revenue o

Read More

Walmart India Bets $500 Mn To Open 47 New B2B Stores By 2022

US retail giant Walmart is looking to further strengthen its brand presence in India as it plans to invest about $500 Mn (INR 3200 Cr) to reach a total of 70 B2B Cash and Carry stores in the country b

Read More

PolicyBazaar Controls Losses By 78%, Revenues Jump 225% For FY18

Online insurance aggregator PolicyBazaar posted its financial performance for the fiscal year 2017-18, scoring a growth of 225% in its revenues and at the same time controlling its losses by 78%. A

Read More

Pine Labs Makes It Back To Loss Gang For FY18 With 64.6% Increase In Expenses

New Delhi-based digital retail payments platform Pine Labs Pvt. Ltd., popularly known as Pine Labs, announced its financial performance for the fiscal year 2017-18 reporting a 55% increase in revenues

Read More

Paytm Claims 600% Growth In UPI Transactions In Last Six Months

Digital payments company Paytm claimed that it was the largest contributor to the volume of UPI payments in India, recording a growth of 600% in transactions in the last six months. UPI, which stands

Read More

Tata Motors posts Rs 1,009 crore loss for July-Sept

Mumbai: Tata Motors on Wednesday reported a consolidated net loss of Rs 1,009 crore for the second quarter ended September 30, 2018, mainly due to a weak performance by its British arm Jaguar Land Rov

Read More

India will pay in rupees for Iran oil post-US sanctions

New Delhi: India will settle oil contracts with Iran in rupee using a bank in the Gulf nation post November 4 when the US sanctions would freeze all payment channels using international currency. S

Read More

Centre softens stance as RBI holds ground

New Delhi: After an escalation of the stand-off between the Centre and the RBI in last one week, the finance ministry on Wednesday said it respects the autonomy of the central bank, within the framewo

Read More

Fintech Company Sentieo Raises $19 Mn In Series A Funding

San Francisco and Delhi-based financial research platform Sentieo has raised Series A funding of $19 Mn (INR 140 Cr) in a round led by growth equity firm Centana Growth Partners. The company’s exis

Read More

Ola May Raise $100 Mn From Steadview Capital At $5 Bn Valuation

Bengaluru-based ride hailing platform Ola is reportedly finalising $100 Mn investment from existing investor Hong Kong-based hedge fund Steadview Capital. Citing unnamed sources, a report by ET sta

Read More

Blockchain This Week: IDRBT Building Blockchain Blueprint For Banks And More

As Indian authorities continue to strike down upon companies dealing with cryptocurrency in the country, the blockchain technology — backing the digital currency — is growing by leaps and bounds with

Read More

Alibaba India Ecommerce Curbs Losses, Marks 73% Increase In FY18 Revenues

Alibaba India Ecommerce Pvt. Ltd. has recently released its financials for FY 2017-18. According to financial data accessed by business intelligence platform, Tofler, the ecommerce platform, reported

Read More

Uber defends its business model over UK worker rights

The Silicon Valley-based company has faced protests, regulator crackdowns and licence losses around the world. Uber defended its business model at the Court of Appeal on Tuesday in the latest stage o

Read More

Oil prices rise for first time in three days, but trade war drags

Both crude benchmarks have fallen about $10 a barrel from four-year highs reached in the first week of October. Tokyo: Oil prices climbed for the first time in three days on Wednesday, but rising sup

Read More

Paytm Mall Limits Product Return Claims By Sellers

Paytm Mall, an ecommerce subsidiary of the digital payments company Paytm, has made certain changes to its seller policy, limiting the claims a seller can make against product returns. According to

Read More

Amazon Starts Storing Local Payments Data Without Mirroring It Abroad

Global ecommerce company Amazon has started storing local payments data in its servers in India without making a copy of it in its overseas servers, according to a ToI report that cited anonymous sour

Read More

BigBasket In Talks To Raise $300-400 Mn At A Valuation Of $1.5 Bn

Bengaluru-based online grocery platform BigBasket is reportedly in talks to raise as much as $300-400 Mn which will boost its valuation to $1.5-2 Bn. Citing unnamed sources, Livemint has reported

Read More

Flipkart’s B2B And Ecommerce Arm Post A Combined Loss Of $435 Mn In FY18

Global retailer Walmart-owned Flipkart has announced its financial results for both its B2B arm – Flipkart India and ecommerce platform – Flipkart Internet. According to the documents sourced from

Read More

Fintech Startup NIRA Raises $1 Mn From India & UK-Based Angel Investors

Bengaluru-based fintech startup NIRA has reportedly closed its seed funding round after raising $1 Mn from angel investors based in India and UK. NIRA which was founded in 2017 by Rohit Sen and Nup

Read More

Fuel prices cut for 12th straight day

New Delhi: The downward slide in petrol and diesel prices continued on Monday after rates were cut by 30-20 paise a litre on softening international oil prices. Petrol price was cut by 30 paise a l

Read More

Sensex, Nifty turn choppy on weak global cues, FPI selloff

Mumbai: Benchmark indices opened on a volatile note Tuesday following weak global market cues amid escalating trade tensions between the US and China, and heavy selling by foreign portfolio investors.

Read More

Swiggy Parent Bundl Technologies Records 220% Jump In Revenues For FY18

Bengaluru-based food delivery app Bundl Technologies, which operates under the popular brandname Swiggy, announced its financial performance for fiscal 2018, recording a 220% jump in its revenues.

Read More

Paytm Mall Scores Over 100% Jump In Revenues For FY18

Digital payments giant Paytm’s ecommerce subsidiary Paytm Mall announced its financial results for fiscal 2018, reporting a jump of 104.42% in its revenues, which touched $105.76 Mn (INR 775 Cr). Payt

Read More

Trademark Violation Case: Delhi Court Bans Flipkart From Selling Products Under MarQ

Indian ecommerce company Flipkart, which has just wrapped up one successful festive season sale and is gearing up for another one ahead of Diwali which is set to begin from November, has landed itself

Read More

Flipkart Co-founder Sachin Bansal May Invest In EV Startup Ather Energy

Flipkart co-founder Sachin Bansal, who is considering investments in several startups, is now reportedly planning to invest $50-100 Mn in Bengaluru-based electric vehicle maker Ather Energy. The de

Read More

India’s Mobile Wallet Companies Want Alternate Solution To eKYC

Some of India’s top mobile wallet companies have requested the Reserve Bank of India (RBI) to provide an alternate solution to eKYC for user onboarding and verification. They said that the physical ve

Read More

Mirai botnet hacker ordered to pay USD 8.6 million in damages

A 22-year-old hacker was ordered on Friday to pay USD 8.6 million in damages and serve six months of house arrest for helping launch a series of massive cyber attacks, the office of the US Attorney fo

Read More

Air India to launch red-eye flights on domestic routes from Nov end

Mumbai: State-owned Air India on Saturday announced the launch of red-eye flights to some of the domestic destinations, including Goa, starting next month end. A red-eye flight departs generally la

Read More

Sensex snaps 2-day losing streak; recovers over 150 points

Mumbai: The BSE Sensex recovered over 173.33 points in opening trade on Monday on sustained buying in recently battered stocks amid strength in the rupee. The 30-share Sensex, which lost 340.78 poi

Read More

Amazon’s International Growth Slowed In Q3 Due To Late Diwali Sale

Global ecommerce company Amazon has announced its financial results for the quarter ending September 30, 2018, and has recorded net sales of $56.6 Bn, a growth of 29% Q-o-Q. In the list of positive

Read More

Apple India Records 140% Jump In Net Profit For FY18

Premium smartphone maker Apple announced its results for the financial year 2018 for its Indian entity and reported a surge in net profit by 140% reaching $122.54 Mn (INR 896 Cr). The latest filing

Read More

Cryptocurrency This Week: SC Asks Indian Govt To File Its Report In Two Weeks, Unocoin Founders Arrested, And More

In a major setback for cryptocurrency enthusiasts, the central crime branch, Bengaluru has now arrested Unocoin founders for their planned launch of cryptocurrency ATMs at various places and also seiz

Read More

Apple boss takes aim at 'weaponisation' of customer data

Apple Chief Executive Tim Cook on Wednesday said customer data was being “weaponised with military efficiency” by companies to increase profit and called for a federal privacy law in the United States

Read More

Sensex tumbles 301 points on global sell-off

Mumbai: The Benchmark Sensex on Thursday slumped over 301 points to dip below the 34,000-mark in early trade, largely in sync with meltdown at other Asian markets following overnight losses at the Wal

Read More

InterGlobe shares drop after first quarterly loss since debut

Shares of InterGlobe Aviation Ltd, owner of India’s largest domestic carrier by market share - IndiGo, fell as much as 3.7 per cent on Thursday, a day after the company posted first-ever quarterly los

Read More

Drug Controller Sends Notice To Amazon, Flipkart, IndiaMART For Selling Spurious Cosmetics

In a strict action against the sale of “spurious and adulterated” cosmetics, the Drug Controller General of India (DCGI) has issued notices to ecommerce giants — Flipkart, Amazon and IndiaMART — warni

Read More

Fino Payment Bank Receives RBI Approval For Onboarding New Customers

The Reserve Bank of India has lifted its ban on Mumbai-based Fino Payments Bank from onboarding new customers to open new accounts effective from October 22nd 2018. According to reports, the centra

Read More

Blockchain This Week: Maharashtra Concludes Blockchain Pilot With Four PoCs, And More

The IT sector of India is evolving at a rapid pace with the influx of new technologies like blockchain, artificial intelligence (AI), machine learning (ML), cloud, analytics, and Internet of Things (I

Read More

Korean Shaving Major Dorco Makes Its First India Bet On LetsShave For 10% Stake

Chandigarh-based men grooming company LetsShave has raised an undisclosed amount of fresh funding from Korean razor manufacturer Dorco Ltd against a 10% stake. Headquartered in Seoul, Dorco is on

Read More

Apple's Cook set to back strong privacy laws in Europe, US at Brussels event

Cook will describe GDPR, as an example of how “good policy and political will can come together to protect the rights of us all,” Apple Chief Executive Tim Cook is expected to praise new European pri

Read More

Internet services sector may create 12 million new jobs by 2022

Mumbai: The Internet services sector in the country, which currently employs around one million people, is expected to create 12 million new jobs by 2022, a report said on Tuesday. The sector, valu

Read More

HCL Tech Q2 net profit up 16.1 per cent to Rs 2,540 crore

The company expects its FY19 revenue to grow between 9.5-11.5 per cent in constant currency basis. New Delhi: Software services major HCL Technologies Tuesday posted a 16.1 per cent increase in conso

Read More

Sensex reclaims 34,000, bounces 444 points on easing crude price

Mumbai: The BSE benchmark Sensex staged a strong comeback by climbing over 444 points to trade above the 34,000-mark in opening trade Wednesday following fresh spell of buying by domestic investors, t

Read More

Rupee recovers 42 paise against US dollar in early trade

Mumbai: The rupee recovered by 42 paise to 73.15 against the US currency in early trade on Wednesday on fresh dollar selling by exporters amid easing crude oil prices and higher opening in the domesti

Read More

Netflix plans to raise $2 billion to fund new content

The streaming giant said the debt will be in the form of senior notes denominated in US dollars and euros. Netflix said that it plans to raise about $2 billion in debt to fund original shows, acquire

Read More

Amazon.com, Qualcomm to put Alexa assistant in more headphones

Under the deal, Qualcomm will release a set of chips that any maker of Bluetooth headphones can use to embed Alexa. Microchip firm Qualcomm Inc is joining Amazon.com Inc to spread the use of Amazon’s

Read More

Fuel prices continue to decline on Tuesday

The petrol price in Delhi was revised to Rs 81.34 per litre, while that in Mumbai was Rs 86.81 per litre. New Delhi: Fuel prices witnessed further reduction on Tuesday, providing some relief to consu

Read More

Sensex cracks 34,000-mark, Nifty below 10,200 on weak global cues

Mumbai: The benchmark BSE Sensex on Tuesday extended its losing spree for the fourth straight day and dipped below the 34,000-mark in early trade, on unabated foreign fund outflows and selling by dome

Read More

UPI’s acceptance to give a boost to account-based payments in India

Chennai: The UPI could be a game changer for the digital payment space in India and may lead to a drastic shift away traditional cards and wallets to account-based payments, finds Global Payments 2018

Read More

With $3.75 Bn Fund, India Among Focussed Countries For Tiger Global

Global investment firm Tiger Global has reportedly raised $3.75 Bn for its latest venture capital fund, Tiger Global Private Investment Partners XI, surpassing its initial target of $3 Bn — one of the

Read More

Paytm Boss Vijay Shekhar Sharma Blackmailed By Employees For INR 20 Crore

Three people, including two employees, of Noida headquartered Paytm were arrested on Monday on accusations of planning to extort INR 20 Crores ($2.71 Mn) from Paytm’s founder, Vijay Shekhar Sharma.

Read More

Fuel prices slashed for fifth day, petrol now cost Rs 81.34 in Delhi

New Delhi: In what could bring respite to citizens, fuel prices witnessed deduction on Monday. In Delhi, petrol price was slashed by 30 paise to retail at Rs 81.34 per litre, while diesel is being

Read More

Reserve Bank of India highlights inflation spike risk, signal rate hikes

Five of six MPC members had voted for keeping rates on hold at 6.50 per cent, surprising most economists. Mumbai: The Reserve Bank of India’s monetary policy committee sees a risk of rising headline

Read More

Flipkart grabs 51 per cent, Amazon 32 per cent of festive season sales

Chennai: Of the USD 2.3 billion gross merchandise value (GMV) garnered during the five-day online festive season sales, Flipkart cornered a higher market share of 51 per cent, followed by Amazon at 32

Read More

IL&FS may sell financial services, energy arms

New Delhi: The Uday Kotak-led IL&FS management, readying a turnaround plan for the debt-ridden shadow bank, is preparing a list of subsidiaries that could be wound up. The list, which will be submitte

Read More

Sensex bounces 321 points in early trade on positive Asian cues

Mumbai: The benchmark BSE Sensex on Monday recovered over 321 points in early trade on fresh buying by investors amid a firm trend in Asian markets and better-than-expected earnings from HDFC Bank.

Read More

BigBasket Taps Micro-Delivery Segment With 3 Acquisitions

Online grocery company BigBasket has reportedly completed three acquisitions in the micro-delivery segment. The company has acquired 100% stake in milk delivery startups RainCan and Morning Cart and a

Read More

Luxury Vacation Marketplace Rizort Is Taking A Road Less Travelled In The OTA Space

<font

Read More

Bike Rental Startup ONN Bikes Looking To Rev Up Its Game With Dockless Bikes

<fo

Read More

Gujarat Govt Supports 175 Startups With $3.2 Mn Financial Aid Over 2 Years

<font face="circularstd, san

Read More

Taxman Alert: Ecommerce Companies May Face Audit On GST Rate Cuts

<font face="circularstd, sans-serif"

Read More

Walmart India Ups Its Game In Wholesale With Second Fulfilment Centre

<font face="circularstd, sans-serif"

Read More

FoodTech Startup SmartQ Acquires Nexus-Backed Goodbox Cafeteria Business

Bengaluru-based food tech startup SmartQ has acquired Nexus Venture Partners-backed Goodbox&rsquo;s cafeteria business for an undisclosed amount in an all-cash deal. &nbsp;</div

Read More

Amazon Ready To Foray Into Indian Healthtech Market With MedPlus

Global ecommerce behemoth Amazon, which has been looking at 360-degree expansion of its portfolio, is ready to dive into the Indian healthtech market and is eyeing acquiring online pharmacy Me

Read More

Online Used Car Marketplace Cars24 Locked In A $49.7 Mn Ride

Gurugram-based online used car marketplace Cars24 has raised $49.7 Mn (INR 340 Cr) from Sequoia Capital India, at a valuation of $250 Mn. &nbsp; Existing investor

Read More

SME Lending Startup OfBusiness Raises $29.2 Mn In Series C

Gurugram-based SME lending startup OfBusiness has raised $29.2 Mn (INR 200 Cr) in a Series C funding round from Creation Investments and Falcon Edge. &nbsp; The f

Read More

Online Lending Startup StashFin Looks To Raise $4.3 Mn

Delhi-based online lending startup StashFin has partnered with non-banking finance company DMI Finance to raise $4.3 Mn (INR 30 Cr) for onward lending through its online platform.

Read More

Walmart To Shift Key Executives From Gurugram, UK To Strengthen Flipkart

Amid competition issues, legal hurdles, income tax burdens, and protests, Walmart is busy making plans for Flipkart after it completes the acquisition of this Indian ecommerce player. <

Read More

TripAdvisor Led $25 Mn Follow-on Funding Round In Eatigo

Bangkok and India-based online restaurant reservation platform Eatigo has raised $25 Mn in a pre-Series C funding round from existing investor TripAdvisor. &nbsp;

Read More

With $2 Mn Investment In Premium Retailers, Letstrack Looks To Deepen Its Presence In India

GPS enabled tracking solutions provider Letstrack has announced to invest $2 Mn in premium retailers under its initiative Letstrack points. These premium retailers are going to be present in e

Read More

Google To Go Solo In Indian Ecommerce War, No Plans To Invest In Flipkart

Developments in the competitive Indian ecommerce space have been getting more exciting by the day. A few days ago, reports said that Google would be entering the space with its own venture. Pr

Read More

Flipkart’s PhonePe Acquires POS platform Zopper Retail

Flipkart&rsquo;s digital payment subsidiary PhonePe has acquired Zopper Retail &ndash; a hyperlocal Point of Sale (POS) platform for small and medium businesses. The acquisition is a part of t

Read More

IFFCO Launches Social Ecommerce Application ‘IFFCO iMandi’

IFFCO has launched a social ecommerce application and web portal named &ldquo;IFFCO iMandi&rdquo; to serve and connect the farmers digitally. &nbsp; The initiativ

Read More

Amazon Pay Receive $33.5 Mn Funding Boost From The Parent Entity

The latest fund raise comes after three months. Earlier, $30 Mn were infused in Amazon Pay in March 2018. At that point of time, Amazon Pay India Head Mahendra Nerurkar, also stated that the c

Read More

Airbus subsidiaries NAVBLUE and Aerial have signed partnerships with three Indian startups — Stelae technology, EFLIGHT, and Airpix (accelerated at Airbus Bizlab India) — to power cutting-edge technol

Airbus subsidiaries NAVBLUE and Aerial have signed partnerships with three Indian startups &mdash; Stelae technology, EFLIGHT, and Airpix (accelerated at Airbus Bizlab India) &mdash; to power

Read More

Personalisation Of Content, Formats Is The Way Forward For Media: Gautam Sinha

During Inc42 Ask Me Anything (AMA), Times Internet chief Gautam Sinha said artificial intelligence will have a direct impact on the media industry Sinha said he is a proponent o

Read More

Blume Launches Arka Venture Labs With Two US Firms To Support Cross-Border Growth Of Indian Startups

Blume Ventures along with Silicon Valley-based Benhamou Global Ventures (BGV) and Emergent Ventures has launched accelerator platform Arka Venture Labs Arka Venture Labs will st

Read More

Grofers To Focus On Private Labels, Drops Fresh Products

Grofers rolled back its fresh products services in several cities including Bengaluru The company believes that Private labels can help improve margins, but it&rsquo;s not the o

Read More

Tata Motors Buys 26% Stake In Logistics Startup TruckEasy

One of India&rsquo;s leading commercial vehicle maker, Tata Motors Ltd, has acquired a 26% stake in logistics startup TruckEasy,&nbsp; through Tata Motors Finance Holdings, a wholly-owned subs

Read More

YourNest, IAN Invest $1.45 Mn In Virtual Reality Startup SmartVizX

Noida-based virtual reality startup SmartVizX has raised $1.45 Mn (INR 10 Cr) in a pre-Series A funding round led by YourNest Venture Capital with participation of the Indian Angel Network&rsq

Read More

With $25 Mn Investment, Google Expands News Initiative To YouTube

After introducing Google News Initiative Training Network in India for the digital media platforms, the global giant has now expanded the programme to YouTube. &nbsp; <di

Read More

Blockchain This Week: Tech Mahindra To Set Up Blockchain Centre, Kwikxchange To Expand To India, And More

Blockchain is a technology which has a lot of potential but it&rsquo;s also the source of a large number of frauds, highlighted the latest study by the Wharton School at the University of Penn

Read More

Flipkart To Capitalise On Digital Advertising To Reach $200 Mn Sales By March 2019

With nearly 100 Mn registered users, Flipkart generated the third-highest revenue (after Google and Facebook) from online ads in India in 2017. It now plans to double its annualised sales from

Read More

Telecom Commission Accepts Trai Recommendations On Net Neutrality

After the social media uproar of 2014 on net neutrality and the subsequent ongoing debate, India is ready to make net neutrality&nbsp; a reality with the Telecom Commission, the highest decisi

Read More

Sashi Reddi Launches $100 Mn Tech-Focused Early Stage VC Fund

Sashi Reddi, a managing partner at venture capital firm SRI Capital, has launched a $100 Mn technology focused early-stage venture fund. SRI Capital Fund-I, a Delaware-registered investment ve

Read More

After Flipkart, Walmart Looks To Make Tech Acquisition In India

The world&rsquo;s largest retailer, Walmart Inc, seems dead serious about strengthening its foothold in India. Walmart, which agreed to acquire homegrown ecommerce platform Flipkart in May, is

Read More

BigBasket Aims To Reach $1 Bn Gross Sales Run Rate By FY19 End

Online grocery platform BigBasket plans to touch $1 Bn gross sales run rate by the end of FY19. The company recorded close to $33 Mn (INR 230 Cr) in gross monthly sales, with an annual exit ra

Read More

Stellaris Venture Partners Led $5 Mn Funding In Social Ecommerce Startup Shop101

Social ecommerce platform Shop101 has raised $5 Mn in funding in a round led by Stellaris Venture Partners. Vy Capital, TaxiForSure co-founder Raghunandan G, and Livspace co-founder Ramakant S

Read More

FDI In Ecommerce: Snapdeal And Shopclues Comes In Support Of New Govt Wing

Small Players of ecommerce believe that the new rules will dissuade &ldquo;malicious practices&rdquo; being done by certain platforms for some &ldquo;proxy sellers&rdquo; Severa

Read More

Paytm Goes Global With Forex Card And Cash

Digital payments company Paytm has now ventured into forex services for top 20 international currencies. &nbsp; Earlier in April 2018, Inc42 reported that Paytm i

Read More

Fake News Alert: WhatsApp Launches Forwards Label

WhatsApp had released full-page advertisements to educate people on the fake news WhatsApp said it will indicate which messages received have been forwarded to the user <

Read More

Flying cheap: IndiGo offers discounts on 12 lakh seats

Budget airline IndiGo has announced a discounted sale of 12 lakh seats at fares as low as Rs 1,212, for travel between July 25, 2018 and March 30, 2019. The 4-day sale starts on Tuesday and en

Read More

Exclusive: Ex-JustDial And Dunzo Investor Picks Up Minority Stake In CEM Startup Survaider

After successfully investing in JustDial, Rajesh Dembla has invested an undisclosed amount in Bengaluru-based customer experience management (CEM) company Survaider for a minority stake.

Read More

Alibaba To Work With Ganesh Ventures To Scale Up Investments In India

Ganesh Ventures seeks to build a strong network of Indian entrepreneurs and Chinese investors and entrepreneurs. For this, the VC firm has made its first close of $30 Mn backed by Alibaba Foun

Read More

Inventus Capital Marks First Close Of Its 3rd Fund At $29 Mn

Bengaluru-based early-stage venture capital firm Inventus Capital Partners has marked the first close of its third fund at $29 Mn (INR 200 Cr) to invest in capital-efficient startups within th

Read More

Facebook May Acquire Bloomsbury AI To Combat Fake News, Netflix To Stop User Reviews, And More: News From The Tech And Startup World [2-8 July]

We&rsquo;ve kept you updated on the happenings in the Indian startup ecosystem. With the week coming to a close, it&rsquo;s time to catch up on the important updates in the tech and startup ec

Read More

Consumer Lending Startup IndiaLends Raises $10 Mn To Launch A New Product Line

Delhi-based consumer lending startup, IndiaLends has raised $10 Mn in Series B round of funding. The investment was led by London-headquartered asset management firm ACPI Investment Managers a

Read More

Paytm: Adoption In Tier 2 &3 Leads To A Run Rate Of 5 Bn Transactions

One97 Communications Limited, which owns digital payments company Paytm has announced that it has achieved an annual run rate of 5 Bn transactions and $50 Bn in Gross Transaction Value (GTV).<

Read More

Y Combinator-Backed Groww Raises $1.6 Mn Pre-Series A Funding

Data science-based mutual fund investing platform Groww has raised $1.6 Mn in a pre-series A round of funding from Insignia Ventures Partners, Lightbridge Partners, Kairos, and others, with pa

Read More

TPG May Invest $40 Mn In Interior Design Company Livspace

End-to-end home design and d&eacute;cor service provider Livspace may soon raise $40 Mn in funding from US-based private equity company TPG. &nbsp; According to r

Read More

Reliance Industries Bets On Hybrid Online-Offline Model To Claim Top Spot In Indian Ecommerce

Reliance Industries Limited (RIL), after its successful stint in the Indian telecom sector, is now looking to write a similar success story in ecommerce. The company has reportedly announced i

Read More

Fintech Startup Innoviti Payments Adds EMI Next With $2.9 Mn Investment

Digital payments and SME lending company Innoviti Payments has invested $2.9 Mn (INR 20 Cr) in developing new technology solutions for its point of sales (PoS) terminals. With this, the fintec

Read More

Movers And Shakers Of The Week [02- 07 July 2018]

We bring to you the latest edition of movers and shakers in the Indian startup ecosystem. &nbsp; This week, PayPal unveiled its plans to continue with its commitm

Read More

Funding Galore: Indian Startup Funding Of The Week [2-7 July 2018]

We bring to you the latest edition of Funding Galore: Indian Startup Funding of the week. &nbsp; This week, Ahmedabad-based ecommerce major Infibeam announced its

Read More

11 Indian Startup News Stories That You Don’t Want To Miss This Week [02-07 July 2018]

We bring you the latest news stories from the Indian startup ecosystem &nbsp; Two of the biggest announcements impacting the Indian startup ecosystem this week we

Read More

Ecommerce Subgroup Calls For FDI In Inventory-Led Online Retail Stocking ‘Make In India’ Products

An ecommerce subgroup has proposed the central government to allow foreign direct investment (FDI) in an inventory-led online retail model, limited to players who are stocking products under t

Read More

Exclusive: Cross-Border Ecommerce Enabler Scale Labs Raises $1 Mn Seed Funding

Scale Labs, a Gurugram-based cross-border ecommerce enabler for brands and online retailers, has raised nearly $ 1 Mn seed funding from GPA Group, led by Vivek Agarwal, said the startup&rsquo;

Read More

Artha Venture Fund Marks First Close Of Its $29 Mn Seed Fund

Mumbai-based Artha Venture Fund has marked the first close of its $29 Mn (INR 200 Cr) seed fund, Artha Venture Fund I, at $6 Mn. A Category-I fund, Artha India Ventures got the approval from t

Read More

Nykaa Man To Contribute About 2% Of Nykaa’s Overall Revenue

Online beauty and wellness marketplace Nykaa has added a new section for men called Nykaa Man. This new section of Nykaa is said to contribute about 2% of the company&rsquo;s overall revenues.

Read More

Odisha Govt To Partner With Google To Boost Its Startup Ecosystem

The Odisha government is looking to collaborate with Google to boost the startup ecosystem in the state. The government has selected 250 startups, which will partner with Google for guidance.<

Read More

After Ministry's Warning, WhatsApp Says That It Needs Govt, Society Support

Share the blame for the game looks like the motto of digital messaging service WhatsApp. After a letter by the Ministry of Electronics and IT (MeitY) accusing WhatsApp of allowing circulation

Read More

To Make Ecommerce Easy, SaaS Company Anchanto Raises $4 Mn From MDI Ventures

SaaS tech company Anchanto has raised $4 Mn in the first round of the Series C investment led by MDI Ventures. &nbsp; The company will be using funds to expand it

Read More

Paytm AshaKiran Partners With Grameen Foundation To Enable Self-Employment Opportunities In Rural India

Paytm Payments Bank, under its initiative Paytm AshaKiran has partnered with Grameen Foundation for Social Impact (GFSI) to provide self-employment opportunities in banking and finance to wome

Read More

Biyani’s Future Lifestyle Fashion Buys 30% Stake In Fashion Etailer Koovs

Kishore Biyani&rsquo;s Future Lifestyle Fashion Limited has entered into a conditional agreement with London-listed fashion etailer Koovs to buy up to 30% stake in the company.

Read More

Digital Lending Platform LoanTap Raises $6.2 Mn From Shunwei Capital And Others

Bengaluru-based digital lending company LoanTap has raised $6.25 Mn (INR 43 Cr) in an equity funding round led by Beijing-based venture capital firm Shunwei Capital. &nbsp;</div

Read More

Myntra And Jabong Ready To Invest $300 Mn In 3 Years

Fostering the culture of growing together, Flipkart subsidiaries Myntra and Jabong are ready to scale up their market share with plans to invest $300 Mn over the next three years.

Read More

First Step To IPO: IndiaMART Files Draft Papers To Raise $88.24 Mn

Initial public offerings (IPOs) seem to be the new cool thing for startups. The latest company to confirm that it&rsquo;s going public is online marketplace IndiaMART, which recently filed its

Read More

Flipkart Sets A Target Of A $17.6 Bn GMV For 2020-21

&ldquo;Setting goals is the first step in turning the invisible into the visible.&rdquo; &ndash; Tony Robbins &nbsp; It looks like Flipkart&rsquo;s acquisition by

Read More

Paytm To Acquire Last-Minute Hotel Booking Startup NightStay

Paytm is reportedly looking to acquire the Noida-based last-minute hotel booking app, NightStay, for around $20 Mn. &nbsp; While the development was confirmed by

Read More

CAIT May Move Supreme Court To Protest Against Walmart-Flipkart Deal

According to recent reports, traders and shopkeepers have decided to oppose the Walmart-Flipkart deal vehemently and are ready to move the Supreme Court (SC), if required, to protect their int

Read More

Exclusive: AI-Based Podcast And News Curator Hubhopper Raises Funds

Delhi-based podcasts and publishers-focused content aggregator Hubhopper has raised an undisclosed amount of funding from Mumbai-based venture capital firm Unit-E Ventures. &nbs

Read More

Central Govt Warns WhatsApp To Stop The Circulation Of Irresponsible And Explosive Messages

These are days of bad news for WhatsApp in India. Now, the Ministry of Electronics and IT has accused WhatsApp of the circulation of irresponsible and explosive messages. The Ministry has issu

Read More

Flipkart Thrust For Fintech Begins, Applies For NBFC Certification To Focus On Customer Lending

Flipkart is now looking to place its thrust on the Indian fintech market which is said to be worth $2.4 Bn by 2020. In a recent development, the company has applied for an NBFC licence to furt

Read More

Tata Group Brings ‘One Tata Approach’ To Address Needs Of Electric Vehicles Segment

The traditional automobile industry has for a while recognised the importance of pre-sale and after-sale services in providing a holistic experience to customers. However, this is yet to exten

Read More

Ecommerce Major Infibeam To Raise $292 Mn To Set Up Its Payments Bank

Ahmedabad-headquartered ecommerce major Infibeam is now all set to expand business in IT segment and is looking to set up its payments bank and also raise $292 Mn (INR 2000 Cr).

Read More

How Did The SaaS Market In India Reach Its Current Boom? Zoho's Sridhar Vembu Explains

Expected to reach $1 Bn by 2020, the Indian SaaS/enterprise software market currently accounts for 9% of all software sales. The SaaS market in India is expected to cross $50 Bn in the next 10

Read More

Facebook Leaks Data Of 120 Mn Users, Amazon Buys PillPack, And More: News From The Tech And Startup World [June 25-July 1]

We&rsquo;ve kept you updated on the happenings in the Indian startup ecosystem. With the week coming to a close, it&rsquo;s time to catch up on the important updates in the tech and startup ec

Read More

Walmart To Arrange Funds For Flipkart Deal By June 2019

After announcing the deal to buy Indian ecommerce company Flipkart, Global retail giant Walmart has been engaged in arranging the funds for the deal. The new reports have revealed that the US

Read More

PayPal Continues To Focus On India, To Hire 600 Techies

Global digital payments company PayPal continues to remain committed towards India. It has identified the country as a key growth market and plans to hire 600 techies by December 2018.

Read More

Tesla Sues Ex-Employee, Google Partners With JD And More: News From The Tech And Startup World [June 18-24]

We&rsquo;ve kept you updated on the happenings in the Indian startup ecosystem. With the week coming to a close, it&rsquo;s time to catch up on the important updates in the tech and startup ec

Read More

Startup Events To Attend This Week: Cisco India Summit 2018, GSF TechTales And More

Here is Inc42&rsquo;s latest edition of startup events coming up this week. &nbsp; But before we dive into what&rsquo;s in store for this week, let&rsquo;s catch

Read More

Govt. May Delay Implementation Of Tax Collection At Source For Ecommerce Companies

With continued changes to the provisions of Goods and Services Tax (GST), the government may now defer the implementation of tax collection at source (TCS), a major relief for ecommerce servic

Read More

WhatsApp Uses Facebook For Payments, May Back Multiple UPI Apps

Facebook-owned messaging giant WhatsApp has been testing its payments services on the Facebook platform in India. In a media statement, a WhatsApp spokesperson confirmed that it uses parent Fa

Read More

Flipkart Aims To Be “Exclusive” Fashion Stop Shop, Targets $1.7 Bn In GMV Via Fashion Business

Flipkart is looking to set itself as the fashion stop shop of India by bringing in more exclusive products on its platform. Reportedly, the online retailer is aiming to invest heavily in this

Read More

Paytm To Provide Life Insurance Cover To Offline Partner Stores

Paytm, in its push towards digital payments has taken yet another step. The One97 Communications owned company has announced to offer life insurance cover to eligible offline partner stores an

Read More

B2B Office Supplies Etailer Aahaa Stores Raises $2 Mn From UAE Based Calega

Being in operation for almost five years, the New Delhi-based etailer Aahaa Stores has now raised its third round of funding from a UAE-based global investment Group Calega. &nb

Read More

Cryptocurrency This Week: Github Compromised, India To Hit Bitcoin Roadblock And More

Notwithstanding the Bitcoin hype, the cryptocurrency, having called the GOAT currency by many, has been performing as Messi in the FIFA world cup. &nbsp; And, as

Read More

A Masterclass By Wingify's Paras Chopra On How To Build A Successful SaaS Startup In India

As India continues to bolster its startup ecosystem, software-as-a-service (SaaS) continues to remain a strong focus area. The SaaS market in India is expected to cross $50 Bn in the next 1o y

Read More

How Bootstrapped QuackQuack Became The Fastest Growing Dating App In India And Got 3.5 Mn Users

3.5 Mn screened singles, 120k new signups every month, a 2x growth in user base compared to the previous year, and a total of 4 Mn messages exchanged every month! These numbers would evoke won

Read More

Beauty Products Marketplace Purplle Raises $2.57 Mn Funding

Mumbai-based online beauty products marketplace Purplle has raised $2.57 Mn (INR 17.5 Cr) from a clutch of investors in a fresh funding round. &nbsp; According to

Read More

In War With Flipkart: Amazon To Strengthen Its Logistics Service With GeoTagging And New Age Tech

As Walmart nears the completion of its deal with Flipkart, Amazon is leaving no stone unturned to push ahead its strategies to keep up with its arch-rival, Walmart. Amazon India is now looking

Read More

As Swiggy Enters Unicorn Club, Zomato Readies For Foodtech War By Seeking $400 Mn In Funding

Soon after Swiggy raised $210 Mn funding and marks its entry to the Unicorn club, foodtech major Zomato is now reportedly in talks to raise $400 Mn funding. &nbsp;

Read More

Consumer Protection Bill 2018 To Address Woes Of Ecommerce Customers

According to a report by Morgan Stanley, India&rsquo;s ecommerce market is expected to touch $200 Bn by 2026 from $ 38.5 Bn as of 2017. With the rapid rise of the ecommerce sector in the count

Read More

Blockchain This Week: Kerala To Leverage Blockchain For Grocery Distribution And Other News

While globally, blockchain-based startups have succeeded to raise around 1.3 Bn from VC funds, Indian blockchain-based startups have reportedly raised a mere $5.3 Mn in the last two years (Jan

Read More

SoftBank Will Support OYO Hotels In China: Masayoshi Son

After being part of four funding rounds worth $512 Mn in OYO Hotels since August 2015, suddenly SoftBank seems to be putting all its hopes on this Gurugram-based hotel room aggregation company

Read More

Electric Vehicles This Week: CK Birla's Avtec To Invest $88Mn In EVs, Mahindra Electric To Partner With Ola And Uber, And More

The Society of Electric Vehicles Manufacturers (SMEV) of India has urged the Centre to make policies that will help manufacturers in the short-term &mdash; starting with a period of three mont

Read More

Walmart Is Selling Bonds In The US To Buy A 77% Stake In Flipkart

As the Flipkart-Walmart deal shapes up with the companies seeking permissions from the Competition Commission of India (CCI) and ironing out taxation issues, the next focus for global retailer

Read More

Flipkart To Make Another Bet On Customer Loyalty Programme, But In A Unique Way

Indian ecommerce company Flipkart is ready to make another bet on its customer loyalty programme, but in a unique way. Rather than charging an upfront fee for the membership, the Flipkart cust

Read More

Paytm Acquires Tech Startup Cube26, Which Is Backed By Tiger Global And Flipkart

Digital payments giant Paytm has acquired New-Delhi based Cube26, a tech startup backed by Tiger Global and Flipkart with $7.7 Mn Seed funding in 2015. Cube26 has customised Android OS and dev

Read More

UPI Transactions Touch 190 Mn Mark In April 2018: NPCI

The volume of transactions on the Unified Payments Interface (UPI) has reportedly reached a staggering number of 190 Mn in April, with a nearly 7% month-on-month growth rate. &n

Read More

Cambridge Analytica Shuts Down, Files For Insolvency Proceedings In UK

While Facebook tries to revamp itself following the data breach scandal, the counterpart of data leak viz Cambridge Analytica has decided to shut down and has filed applications to commence in

Read More

Paytm Mall Signs Strategic Partnership With ASUS, Launches Its PoS

The Taiwanese gadgets manufacturer seems to be reaping the Indian ecommerce unicorns&rsquo; user base to strengthen its roots in the country. Just a few weeks after signing an exclusive partne

Read More

Flipkart Sets Aside $400 Mn For Buyback From Minority Shareholders

While the Flipkart-Walmart deal inches closer, the ecommerce giant has set aside $400 Mn to buyback shares of minority investors in an attempt to revamp itself as a private limited company in

Read More

ETMONEY Embarks Into Lending Business With The Launch Of CreditLine

Times Internet-backed ETMONEY (formerly, SmartSpends) in partnership with RBL Bank has launched a mobile app-based money lending platform ETMONEY CreditLine. The launch marks ETMONEY&rsquo;s e

Read More

Punit Soni’s Healthtech Startup Suki Raises $20 Mn Funding From Venrock, First Round, Social Capital

AI enabled healthtech startup Suki (formerly called Robin), founded by ex-CPO of Flipkart Punit Soni has raised $20 Mn led by Venrock, First Round, Social Capital, as well as individual Google

Read More

Flipkart Sets Aside $400 Mn For Buyback From Minority Shareholders

While the Flipkart-Walmart deal inches closer, the ecommerce giant has set aside $400 Mn to buyback shares of minority investors in an attempt to revamp itself as a private limited company in

Read More

Blockchain This Week: IIT Kanpur’s $5 Mn E-Governance Project, UK’s Zebi To Foray Into Indian Market And More

Blockchain is slowly but steadily spreading across the verticals, changing lives. Leading companies, government institutions and universities across the world have already taken several initia

Read More

Digital Media Queens, Suchita Salwan And Priyanka Gill, Tell How To Win The Game

A report titled &lsquo;Mobile Internet in India 2017&rsquo; estimates the number of mobile Internet users in India to reach 478 Mn by June 2018. With such a deep Internet penetration in India,

Read More

Startups To Be Goa’s New Backbone: Rohan Khaunte, Goa’s Minister For Revenue, IT, Labour & Employment

Goa, which is most commonly known as a holiday destination, is increasingly seeing solo entrepreneurs and startups budding in the state. Credit it to the work-life balance that the state provi

Read More

6 Ways B2B Companies Can Use Social Media To Communicate With Potential Customers

Question: What&rsquo;s one-way B2B companies can use social media to communicate with potential customers? &nbsp; Create Valuable Content &ldquo;Mo

Read More

How UrbanClap Survived The Hyperlocal Bubble In 2016

&ldquo;Focus on the quality of experiences, both for our service professionals as well as our users, helped the company survive the hyperlocal bubble.&rdquo; UrbanClap founder Abhiraj Bhal ave

Read More

2 Days, 3 Leaks: Who Needs To Break 'The 5 Ft Thick Wall' Of UIDAI If Aadhaar Data Is Available Online?

Powered By Inc42 BrandLabs &nbsp; 222 SHARES FacebookTwitterLinkedin In the times of Facebook&rsquo;s apology over tr

Read More

India's Next Tech Challenge: Redefining Social 3.0 And Giving Power To The “Peepul”

India is home to 270 Mn Facebook users, the highest for the social media giant globally. But after recent controversies where data of users were harvested on a massive scale (87 Mn) by a third

Read More

Walmart Likely To Occupy 40% Of Flipkart 10-Member

As the deadline for Flipkart-Walmart deal nears, reports have surfaced that Walmart is likely to gain about three to four seats on the 10-member board of homegrown ecommerce unicorn Flipkart,

Read More

Future Group Goes Amazon Prime Way To Launch Grocery Delivery App

In February 2018, when Future Group CEO Kishore Biyani met Amazon Chief Jeff Bezos in the US, it looks like a partnership is brewing between the two companies. However, it seems that Biyani&rs

Read More

Google’s Alphabet To Participate In Flipkart-Walmart Deal

As speculations of the Flipkart-Walmart deal continue to create a buzz, the global retailer is now planning to involve Google&rsquo;s parent Alphabet taking a stake in Flipkart for nearly $1-2

Read More

With $97.41 Mn Booster, Gionee Plans To Stay Ahead Of Xiaomi, Huawei

Chinese smartphone brand Gionee is planning to invest around $97.41 Mn (INR 650 Cr) in 2018 as it&rsquo;s striving to the bring the smartphone among the top five smartphone brands in the count

Read More

Paytm Launches Offline Payments Solution Paytm Tap Card

After revamping its app, Paytm has now introduced a new payments solution, Paytm Tap Card. &nbsp; Paytm Tap Card uses near-field communication (NFC) technology to

Read More

Alteria Capital Raises $15 Mn From SIDBI For Its $150 Mn Maiden Venture Debt Fund

Venture debt firm Alteria Capital has raised $15 Mn (INR 100 Cr) for its $150 Mn (INR 1,000 Cr) maiden debt fund. The capital, as per reports, has been secured from Small Industries Developmen

Read More

Government Slams Facebook And CA With Second Notice Over Cryptic Response

The Indian government has sent a second notice to Facebook and Cambridge Analytica aka CA after finding discrepancies between the earlier responses by the two companies during the case of data

Read More

Foodtech Startup Swiggy Launches Central Kitchen - Swiggy Access

At the time when rival Zomato is pushing to increase revenue with its paid subscription programme Zomato Gold, Bengaluru-based foodtech startup Swiggy has announced the launch of a strategic i

Read More

Food Delivery Startup Swiggy To Foray Into Hyperlocal Segment, Starting With Medicines And Groceries

Bengaluru-based online restaurant search and food delivery startup Swiggy is reportedly looking to foray into the hyperlocal vertical, particularly the medicine and grocery categories. The mov

Read More

Tata Will Sell Its 27 Year-Old E-Learning Platform, Tata Interactive Systems To MPS Ltd

Tata Industries Ltd, a subsidiary of Tata Sons, has announced that it will sell its e-learning solutions unit, Tata Interactive Systems, to Noida-based publishing services company MPS Ltd. The

Read More

Paytm Mall Gets $110 Mn Fund Infusion From SoftBank And Alibaba

Paytm Mall has received the third of the four tranches as part of its larger $455 Mn funding round, as per the latest filings with MCA. The ecommerce major has now received $220 Mn of the tota

Read More

Nexus Venture Partners Led $1.6 Mn Funding In Dev Tools Startup Hasura

Bengaluru and San Francisco based developer tools startup Hasura has raised $1.6 Mn in a Seed round of funding led by Nexus Venture Partners along with GREE Ventures. &nbsp;</di

Read More

Quikr Loses Unicorn Status, Valuation Falls To $885 Mn

In a major devaluation in the online classifields industry, Swedish investor AB Kinnevik has marked down the valuation online classifieds platform Quikr by 12% to $884.94 Mn as of December, 20

Read More

What The Financials] With Rising Losses Of Over $19 Mn, MobiKwik Has A Long & Strenuous Road To Profitability

In the Indian digital wallet space, the two names that come to the mind simultaneously are Paytm and MobiKwik. Having been founded at around 2010, both Paytm and MobiKwik had a very similar tr

Read More

Yuvraj Singh Backed JetSetGo Acquires Aircraft Operator Indo Pacific Aviation

Yuvraj Singh backed JetSetGo, a Delhi-based marketplace for private jets and helicopters has taken yet another step towards its aim to revolutionise the private aviation business. The company

Read More

Blockchain This Week: Redefining Social 3.0, ALAX India Plans And More

Hello there, this week we bring you the 2nd edition of news from the world of the blockchain.&nbsp;&nbsp; &nbsp; Exuberant support or pessimism often divide opini

Read More

New Hurdles For Amazon India’s Food Retail Plans

Ecommerce behemoth, Amazon India, has got yet another trouble to address before it can expand its food retail venture in India. This time, it is DIPP (Department Of Industrial Policy And Promo

Read More

Paytm Scouts For Alibaba Pictures Owned TicketNew To Fight Rival BookMyShow

As digital payments and ecommerce giant Paytm strives to make a formidable place for itself in the entertainment ticketing business, it has inched further towards advanced talks with Chennai-b

Read More

DevOps Accelerator JFrog Expands India Presence With New Office In Bengaluru

US-based DevOps accelerator JFrog entered India in June 2017, with the acquisition of DevOps Intelligence platform CloudMunch. With its new office in Bengaluru, JFrog is now aiming to accelera

Read More

Google Brings Curated Job Search Feature To India

In yet-another India focused product, global search giant Google has now introduced job search feature for India under Google for Jobs. &nbsp; In a Google blog po

Read More

8 Mn Videos Removed In Three Months: Youtube In Its Community Guidelines Report

Amid Facebook security flaws being a major concern, YouTube, keeping up with its promises of expanding its work to remove content that violates its policies, has released the first YouTube Com

Read More

Banks And Digital Wallets To Now Target 30 Bn Digital Payments In FY 2018-19

If we go by the recent reports, the digital payments adoption in India is on a constant rise. However, the government does not seem satisfied with the progress. The cash crunch issue which cau

Read More

After Coatue Management, Swiggy Now In Talks To Raise Funding From DST Global

Just over two months after securing $100 Mn in a Series F funding round led by Naspers at a valuation of $700 Mn, homegrown online food delivery startup Swiggy is reportedly in talks with Hong

Read More

On A Mission To Digitise Global OPD Processes, Healthtech Startup Doxper Raises $1.1 Mn Funding

Taking the total funding raised to date to $1.9 Mn, Doxper has raised $1.1 Mn in a Pre-Series A funding round led by existing investor Vidal Healthcare. Earlier, in August 2017, it raised $750

Read More

Flipkart-Walmart Deal Is Good For Indian Ecommerce: Amazon India Head

As Amazon seems losing its deal around Flipkart, the Amazon India Head is now all bullish over Walmart acquiring its arch-rival. In a recent media statement, Amazon India country head Amit Aga

Read More

Blume, Goldbell Invests Another $1.6 Mn In Car Service Startup Pitstop

Bengaluru-based car repair and servicing startup Pitstop has raised $1.6 Mn in a Pre-Series A funding round from its existing investors Blume Ventures and Singapore-based Goldbell Group.

Read More

Two Startup Founders Arrested In Connection With Amit Bhardwaj’s $300 Mn Cryptocurrency Ponzi Scheme

Following the arrest of the mastermind behind the $300 Mn cryptocurrency scam, Amit Bhardwaj, the police has now made two more arrests. According to reports, Sahil Baghla (former Bluegape foun

Read More

Amazon Backs Capital Float With $22 Mn In Series C Funding

SAIF Partners and Sequoia India-backed online lending platform Capital Float has raised $22 Mn in a follow-on Series C funding round of $22 Mn from Amazon Inc. &nbsp; <di

Read More

ATS group firm HomeKraft to invest Rs 500 cr on 1st housing project

ATS group firm HomeKraft to invest Rs 500 cr on 1st housing project Realty firm HomeKraft today said it will invest Rs 500 crore over the next five years to develop its first pr

Read More

Paytm says it has 100 million KYC-compliant m-wallet users

BENGALURU: Paytm has claimed it has 100 million KYC compliant mobile wallet customers out of 220 million using its payments service. The Noida-based company has been able to make 45% of its m-

Read More

Amazon to double down on groceries; foray deeper into fresh produce in India

BENGALURU: Amazon.com Inc expects groceries and household products to account for over half of its business in India in the next five years, as it moves to broaden offerings in the segment and

Read More

Cryptocurrency: Delhi High Court Issues Notice To RBI And Others

Accepting the petition filed by Ahmedabad-based cryptocurrency startup Kali Digital EcoSystems, the Delhi High Court has now issued a notice to the Reserve Bank of India (RBI), The Union of In

Read More

Punit Soni On What It Takes To Traverse Both The Indian And Silicon Valley Startup Ecosystem

At the time when the Indian Startup Ecosystem has been bolstering itself with activities in various segments after recording over $13.5 Bn across 885 deals in 2017, the trend continued with Q1

Read More

Online Beauty Marketplace Nykaa Grabs $11.32 Mn Funding At $453 Mn Valuation

With an aim to become profitable by FY19, online beauty marketplace Nykaa has secured $11.32 Mn (INR 75 Cr) in a funding round at a valuation of $453 Mn (INR 3,000 Cr). &nbsp;</

Read More

How Online Pharmacy Medlife Is Making Healthcare Accessible For 5 Lakh+ Users Across 40 Cities

Online pharmacy startup Medlife co-founder, Tushar Kumar opines, &ldquo;Over a period of time, I realised that the healthcare system in India is extremely chaotic. People don&rsquo;t know wher

Read More

With 180 Mn Customers, 500+ Corporate Clients, Renu Satti Of Paytm Payments Bank Is Shooting For 500 Mn Bank Accounts By 2020

320 Mn+ registered users. 1 Bn transactions per quarter. $20 Bn (INR 1.3 Lakh Cr) annualised gross transaction value (GTV). 7 Mn offline merchant base. $2.3 Bn in total funding. The homegrown

Read More

Ministry Of Commerce Directs RBI And ED To Address Allegations Against Ecommerce Giants

In the wake of allegations by Indian Cellular Association (ICA) and retailer giants that ecommerce major Amazon and Flipkart are violating FDI rules by &ldquo;influencing prices on their platf

Read More

Walmart May Acquire Flipkart As Early As Next Week

Following the ongoing talks between Walmart and Flipkart, reports have surfaced that Walmart may finalise its deal with Flipkart &ldquo;as early as next week&rdquo;. &nbsp;</div

Read More

AI And IoT Focussed Tea Retailer Chai Point Raises $20 Mn In Series C Funding

Bengaluru-based tea retailer Chai Point has raised $20 Mn in Series C round of funding led by Paragon Partners. All existing investors &ndash; Eight Roads (Fidelity&rsquo;s India PE arm), Saam

Read More

Fantasy Gaming Startup Dream11 Looks To Raise $100 Mn From Tencent

Mumbai-based fantasy gaming startup Dream11 is looking to raise $100 Mn from Chinese Internet conglomerate Tencent, following the latter&rsquo;s interest in the Indian gaming industry.

Read More

We Will Double Down On Our Growth Strategy In India: Uber COO Barney Harford

Uber COO Barney Harford is on his India visit and unlike the CEO Dara Khosrowshahi&rsquo;s polite attitude towards the rival Ola, he seems to be quite aggressive on taking a better positioning

Read More

TR Capital Raises Its Stake In Lenskart To 10% Post Secondary Share Sale

In yet another successful secondary investment in India, TR Capital has announced that it now holds more than 10% stake in Indian eyewear startup Lenskart. &nbsp;

Read More

Prime Added Maximum Users In India In Its First Year In Amazon’s History: Jeff Bezos

In its latest Annual Shareholder letter, Amazon Inc. founder Jeff Bezos has claimed that its paid subscription service, Prime, added more members in India in its first year than any previous g

Read More

Updated: Facebook Integrates Mobile Recharge On Its Marketplace; Payments Feature Still Not Available In India

Amid news pertaining to the Facebook data leak, non-users&rsquo; data tracking and Mark Zuckerberg&rsquo;s testimony in the US Congress, the social media giant has been working on a host of ad

Read More

Ibibo Group Secures $9.83 Mn Cash Infusion From The Parent Company

Ibibo Group has secured a fund fusion of $9.83 Mn (INR 65 Cr) in March 2018 from its Singapore-based parent company Ibibo Group Holdings (Singapore) Pte. Ltd, according to recent filings with

Read More

Amid Cash Crunch, Mobile Wallets Register Significant Drop As Users Shy Away From Full KYC

Despite demonetisation, cash still remains the primary means of payments India, as evident from the cash crunch that is currently brewing in the country. Along the sidelines, it seems that tra

Read More

Centre Sets Up Inter-Ministerial Group To Address Ecommerce Issues

Days after reports surfaced that the government has set up an ecommerce think tank, Union Commerce Secretary Rita Teaotia has revealed that the government has now set up up an inter-ministeria

Read More

With Expansion Goals In FY19, Logistics Startup Lynk Raises $3 Mn In Funding

Chennai-based logistics startup Lynk has raised $3 Mn (INR 20 Cr) in funding from the existing investor Ramco Group. The promoters &ndash; P.R. Venketrama Raja (Chairman &ndash; Ramco Systems)

Read More

Walmart Devises Strategies To Retain Top Executives Of Flipkart Following The Deal

As the speculations make rounds, Flipkart-Walmart deal is seeing its near-the-completion talks, latest being the retention of top executives. &nbsp; The reports q

Read More

B2B Commerce Platform OfBusiness Raises $11 Mn From Zodius Capital, Others

B2B commerce company OfBusiness has raised about $11 Mn (INR 75 Cr) in a round led by Zodius. Existing investor Matrix Partners also participated in the round. &nbsp; <di

Read More

Nandan Nilekani Invests $2 Mn In Assisted Ecommerce Startup ShopX

Bengaluru-based assisted ecommerce startup ShopX, run by 10I Commerce Services, has raised $2 Mn (INR 13 Cr) in funding from strategic investor Nandan Nilekani. &nbsp; <d

Read More

Hello Network CEO Orkut Büyükkökten Seeks Investment From Indian Investors

The newly launched social network platform by Orkut B&uuml;y&uuml;kk&ouml;kten, Hello Network Inc., is in talks to gain strategic partners in India. It is aiming to raise funds from Indian inv

Read More

Flipkart Signs Exclusive Partnership With ASUS To Bring India Focussed Products

Propelling its leadership in smartphone segment, homegrown ecommerce major Flipkart has signed a Memorandum of Understanding for an exclusive partnership with Taiwanese smartphone maker ASUS.<

Read More

Ola To Lead $7 Mn Funding In Scooter Rental Startup Vogo

Soon after the acquisition of Ridlr, homegrown cab aggregator Ola is now in talks with Bengaluru-based scooter rental startup Vogo Automotive to lead a $5-7 Mn round of funding in the startup.

Read More

Indian ride-hailing firm Ola to add 10,000 electric three-wheelers to fleet

NEW DELHI (Reuters) - Indian ride-hailing firm Ola, backed by Japan&#39;s SoftBank Group, said it will add 10,000 electric three-wheelers to its fleet over the next 12 months as part of a plan

Read More

News Roundup: 13 Indian Startup News Stories That You Don’t Want To Miss This Week [9-14 April 2018]

We bring to you the latest dope of the Indian startup news stories of the week from the Indian startup ecosystem. &nbsp; One of the biggest news impacting the Ind

Read More

How To Find A Mentor Who Will Help You Propel Forward

As a founder, it is your responsibility to surround yourself with the right team, early adopters and investors, as they can make or break your business. However, it can be difficult to make th

Read More

Omnivore Adds Precision Agriculture Startup AgNext To Its Agritech Startup Portfolio

Impact venture fund, Omnivore, has invested an undisclosed amount in Chandigarh-based agritech startup AgNext through its second fund Omnivore partners India Fund 2. The deal also saw particip

Read More

Cognizant And Indian Insurers Jointly Develop Blockchain Solution For Secure Data Sharing

IT services giant Cognizant, along with a consortium of Indian life insurers have developed a blockchain based solution to facilitate secure data sharing among companies. The technology is des

Read More

Turning Dirty Laundry Into A Profitable Business: UClean On A Path To Disrupt The $34 Bn Unorganised Market

&ldquo;Behind every successful woman is a basket of dirty laundry,&rdquo; Sally Forth quips in Greg Howard&rsquo;s famous daily comic strip by the same name. The statement, Arunabh Sinha will

Read More

AI Focussed Edtech Startup Embibe To Receive $180 Mn Strategic Investment From RIL

Reliance Industries Limited (RIL) has reportedly agreed to invest over $180 Mn into AI-based education platform, Embibe over the next three years. This will put RIL in a position to buy out ar

Read More

[What The Financials] With ARR Of $9.30 Mn And CAGR Of 75% - BYJU'S To Breakeven In Less Than 2

In March 2018, BYJU&rsquo;S quietly became India&rsquo;s first edtech company to enter the country&rsquo;s rarefied unicorn club, crossing $1 Bn in estimated worth. With around 2500 employees,

Read More

India's Coinsecure exchange says $3 million worth of bitcoins stolen

NEW DELHI (Reuters) - Coinsecure, an Indian cryptocurrency exchange, said nearly $3 million were stolen from its bitcoin wallet, the biggest reported so far in the country&#39;s fledgling virt

Read More

Instamojo Records 118% Growth In FY18, Now Looks To Cross GMV Run Rate Of $923.7 Mn In FY19

Bengaluru-headquartered Instamojo, a micro products and digital payments platform for SMEs, has shared its annual performance report for FY 18. &nbsp; In the late

Read More

Personalisation Tech: The Key To The Future Of Marketing Automation

Personalisation is soon becoming a core strategy for brand marketers today. Personalisation leaders stand to capture a substantial share of the market along with the profits, leaving the slow-

Read More

Amidst Merger Talks With Ola, Uber COO Barney Harford To Visit India

It seems Uber&rsquo;s relationship building exercise with the Indian government and business leaders is not over yet. Within two months of Uber&rsquo;s CEO Dara Khosrowshahi&rsquo;s India trip

Read More

Flipkart Challenges Income Tax Department’s Decision; Says “Can’t Pay Tax On Fictional Income

In response to the Income Tax panel&rsquo;s refusal to stay the $17.2 Mn (INR 110 Cr) tax penalty on Flipkart for FY15-16, the homegrown ecommerce major has once again challenged the IT depart

Read More

Amazon Wedges Itself In The Acquisition Deal Between Walmart And Flipkart, Offers $2 Bn Breakup Fee

Days after Walmart completed due diligence on Flipkart, global rival Amazon has reportedly offered a breakup fee of around $1 Bn to $2 Bn to the homegrown ecommerce unicorn, thus wedging itsel

Read More

Google Files Appeal To NCLAT Against The CCI Order

Months after CCI (Competition Commission of India) charged $21 Mn (INR 136 Cr) fine on Google for conducting unfair business practices in India for online search, the global search giant has n

Read More

If You’re Interested In Open Source Development, Wingify’s Paras Chopra Is Ready To Fund Your Projects

After leading Wingify to success, founder Paras Chopra has been constantly tweeting about his interest in open source and his willingness to support open source development in India. <d

Read More

[What The Financials] $52.7 Mn In Funding And $900K Revenues - Coverfox’s Financials Show That Online Insurance Has A Long Way

With the rush of venture capital investments in Indian fintech over the past few years, sectors like lending, insurance tech, etc., besides digital payments, have seen a surge of investor inte

Read More

Built For And With Driver Partners, Uber Launches New Partner App In India

The ride-sharing company, Uber, is fueling its ambitions across the globe amidst dissatisfied drivers who recently went on mass strikes. Therefore, Uber CEO Dara Khosrowshahi&rsquo;s recent bl

Read More

Govt's Major Push To Promote Startups In India, FFS Funds 109 Startups

In an attempt to boost entrepreneurship, the Department of Industrial Policy and Promotion (DIPP) has already disbursed $79.7 Mn (INR 517.92 Cr) under its Fund of Funds for Startups (FFS) init

Read More

Meru Cabs To Now Focus On B2B Clients To Face Off Ola, Uber

After adopting marketplace model, homegrown cab service provider Meru Cabs is now looking to focus on B2B clients to address its falling revenues with Ola and Uber taking the lead in the B2C c

Read More

PayPal To Deepen Its India Presence; To Focus On Tier II & III Cities Too: India MD Anupam Pahuja

In a slew of moves made by PayPal, the global digital payments giant is showing its keenness to work towards dominating the Indian market. In a recent conversation with Inc42, Anupam Pahuja, M

Read More

After Ridlr, Ola Is Now Looking To Acquire Foodtech Startup FreshMenu

Days after Ola announced the acquisition of Ridlr, the cab aggregator is now said to be in talks to acquire foodtech startup FreshMenu and another similar startup. &nbsp;

Read More

Fundamentum Leads $12 Mn Series C Funding In Travel Marketplace TravelTriangle

Gurugram-headquartered travel marketplace TravelTriangle has raised $12 Mn (INR 78 Cr) in a Series C round of funding led by growth-capital fund Fundamentum. Existing investors &ndash; SAIF Pa

Read More

With 50% Of All Job Postings On Indeed, Bengaluru And Mumbai Leads In Blockchain Job Creation

Data released by job site Indeed shows that there has been a significant demand for professionals in the blockchain sector leading to a boom in the blockchain job creation, with jobs concentra

Read More

Mark Zuckerberg’s Next Apology In Line? WhatsApp Sharing Users’ Payments Data With Facebook

While the news regarding Facebook data leak with Cambridge Analytica is still boiling all around, in another news revelation, WhatsApp &ndash; freeware messaging and VoIP service by Facebook &

Read More

Indian-Origin Researcher Develops Wearable Device to Transcribe Words 'Spoken in Your Head' [Watch Video]

Researchers including two of Indian origin at Massachusetts Institute of Technology (MIT) have developed a computer interface that can transcribe words that the user verbalises internally but

Read More

Walmart Completes Due Diligence For Stake In Flipkart After Rival Offer From Amazon

Days after buzz of ecommerce behemoth Amazon raising an offer to acquire Flipkart, the reports have surfaced that Walmart has completed its due diligence process and has floated an offer propo

Read More

Surprise! Amazon now sells more than 70 of its own private-label brands

After Amazon launched its first private-label brands in 2009, the company took a four-year hiatus before it created any more. And when it got back into the game with the launch of its own diap

Read More

MakeMyTrip To Delist Treebo, FabHotels Following Agreement With OYO

Online travel company MakeMyTrip is in works to delist its budget-focused hotel aggregators, Treebo Hotels and FabHotels, following an agreement with homegrown hospitality major OYO. <d

Read More

Who Is Amit Bhardwaj? The Real Story Behind $300 Mn Bitcoin Ponzi Schemes And More

Che Guevara to Osho, the parabolic curve of their successes was largely dependent upon manipulating people&rsquo;s mind, &ldquo;making the common man feel that he or she can tame the entire wo

Read More

NITI Aayog To Develop National Data & Analytics Platform With Private Players

The NITI Aayog is planning to develop the National Data and Analytics Platform by collaborating with private tech players, as revealed by a top government official to ET. &nbsp;

Read More

How Do SaaS Companies Like Zoho Retain Tech Employees?

&ldquo;Question: What&rsquo;s your take on the Indian tech startup ecosystem? Do you see a common problem in the ecosystem? Answer: There is an excessive worship of credentials

Read More

In Light Of Facebook Privacy Breach, RBI Asks Payment System Operators To Store User Data Within India

After cracking down on cryptocurrency-related services, the RBI has now asked all payment system operators in the country to store data &ndash; pertaining to their customers &ndash; within Ind

Read More

Kunal Shah Is Looking To Raise $30 Mn Capital For His New Venture

Months after Freecharge founder Kunal Shah caused Twitter waves with his plans for a new startup in 2018, reports have surfaced that he is now looking to raise nearly $30 Mn in Series A fundin

Read More

Indian Cryptocurrency Users Launch An Online Petition Against RBI; Demand RBI To Reconsider

As the RBI hardens its stance and bans banks from dealing with cryptocurrency entities, many Bitcoin investors and exchanges have preferred to HODL (Hold Your Cryptocurrency) until more clarit

Read More

Venture Capital Firm India Quotient Announces First Close Of Its Third Fund

Venture capital firm India Quotient has made the first close of its $50-$60 Mn new fund raising more than $30 Mn. &nbsp; The biggest investment came from a Gulf-b

Read More

PayPal Digitises FIRC Payment Option To Shorten Payment Cycle For Indian Sellers And Freelancers

Making another move to solidify its presence in India, fintech giant PayPal has announced plans to digitise the FIRC application process for easing the cross-border inward payments troubles fo

Read More

Amazon Business: Amazon India Enables Indian Sellers And Exporters To Sell B2B Globally

Opening the global market for Indian vendors, Amazon India has now launched its B2B selling programme allowing Indian sellers and exporters to sell their products and services abroad as well.<

Read More

Employee Transportation Startup MoveInSync Raises $8 Mn In Series B Funding

Bengaluru-based employee transportation startup MoveInSync Technology Solutions has raised $8 Mn in Series B funding round led by Nexus Venture Partners. Existing investors including Inventus

Read More

Amazon Eyes A Slice Of Online Gaming Pie; Partners With Nazara For Fire TV

Mumbai-headquartered mobile gaming startup Nazara Technologies has forged an alliance with Amazon to provide localised Indian gaming experience on Fire TV. With this, the company&rsquo;s offer

Read More

With 45% Y-O-Y Growth In FY18, Here’s Where Zomato Is Earning Its Revenues From

As the Indian foodtech unicorn Zomato hit 5.5 Mn monthly food orders in March 2018, the FY18 results of the company are enough to set a benchmark here for rest of the industry. In a recent blo

Read More

Paytm Mall Gains Unicorn Status: Raises $445 Mn Funding From SoftBank, Alibaba

The beginning of the new financial year could not have been better for Paytm. While the parent company Paytm has been busy revamping its app, it&rsquo;s ecommerce subsidiary Paytm Mall has sec

Read More

BHIM UPI Transactions Cross 1 Bn Mark In FY 2017-18

Marking another milestone, UPI enabled app BHIM&nbsp; has recorded one billion transactions in FY 2017-18, crossing the value worth $15.36 Bn (INR 1 Tn). &nbsp; I

Read More

Digital Payments Giant Paytm Revamps App, Makes It More Intuitive And User-Friendly

At a time when the country&rsquo;s digital payments space is undergoing major changes as a result of the RBI&rsquo;s stricter KYC mandates, homegrown unicorn Paytm has revamped its app to make

Read More

Indian Tech Startup Funding Report Q1 2018: $1.17 Bn Invested Across 196 Deals

An overall glance at the Indian tech startup ecosystem will exhibit a much finer picture: 100th position in terms of ease of doing business; 37th position on the global startup ecosystem compa

Read More

Here Is Fynd’s Pitch Deck That Made Google Invest In It

Farooq Adam, the co-founder of O2O fashion platform Fynd suggested this definition when he first published company&rsquo;s funding pitch deck in May 2016. &nbsp;

Read More

IRCTC Looks To Join Digital Payments Bandwagon With Launch Of Payment Gateway ‘Ipay’

As the Indian digital payments touch $200 Bn mark, the segment has started gathering the attention of traditional players to test waters. As per reports, Indian Railways&rsquo; subsidiary IRCT

Read More

While Paytm Clocked 5x Growth In Online Ticket Sale In FY17, BookMyShow Saw Its Losses Widen 138 Times

Mumbai-headquartered online ticketing platform BookMyShow reported a 27% jump in operational revenues to $46.2 Mn (INR 300.6 Cr) in FY17, from $36.2 Mn (INR 236 Cr) in the fiscal before that.<

Read More

Google Leads Series C Funding In O2O Fashion Ecommerce Startup Fynd

Reaffirming its commitment to the Indian startup ecosystem, global search giant Google has led Series C funding in O2O fashion ecommerce platform, Fynd. &nbsp; Ot

Read More

CDPQ Invests $20 Mn In Nandan Nilekani Led Growth Fund Fundamentum Partnership

Nandan Nilekani and Sanjeev Aggarwal owned Fundamentum has raised an initial investment of $20 Mn from CDPQ, a Canada-based institutional investor, for its first growth fund&nbsp; &ldquo;Funda

Read More

Microsoft Ventures Plans A Come Back To India, Targets New Age Tech Startups

After a long absence, Microsoft is now planning to revive Microsoft Ventures in India. As per reports, the tech giant is looking to open an office and invest in Indian tech startups using new

Read More

Indian Government Writes Letter To Facebook Seeking Details Of The Recent Data Breach

After the Election Commission of India announced that it will continue its partnership with Facebook for the upcoming Karnataka Assembly Polls, calling the recent fiasco a mere &ldquo;aberrati

Read More

Flipkart Earmarks Millions Of Dollars For Online Grocery Business; Eyes Movie Ticketing Market

At a time when Amazon is doubling down to strengthen its food retail business in India with a pilot in Pune and 15 new fulfilment centres, homegrown ecommerce rival Flipkart is also evaluating

Read More

Flipkart Set To Be An OTA Giant After Conquering Ecommerce, To Take On MakeMyTrip, Yatra

Mumbai based mid-market private equity firm SeaLink Capital Partners has announced the first close of its maiden fund at $315 Mn (INR 2,045.45 Cr), which is significantly higher than its initi

Read More

After Raising $100 Mn, Swiggy Now In Talks With Coatue Management For Another $100 Mn

New York-headquartered technology hedge fund Coatue Management is reportedly holding discussions with a couple of other investors to pump $50 Mn-$100 Mn in homegrown online food delivery start

Read More

Ola Might Acquire Uber India With SoftBank Playing The MatchMaker

While the cab hailing majors, Ola and Uber, are busy handling the strikes by their drivers on the frontend, Ola is in talks to acquire Uber&rsquo;s Indian operations. The deal will be facilita

Read More

To Challenge Flipkart’s PhonePe, Amazon India To Continue Investments In Digital Payments Arm

Amidst increasing competition from PhonePe, owned by rival Flipkart, ecommerce giant Amazon India is reportedly doubling down to bolster its digital payments business. As stated by the newly-a

Read More

Ministry Of Health Issues Draft For Healthcare Security Act; Warns Of Five Year Jail, $6,164 Fine On Healthcare Data Breach

In a silent yet tough stance towards data breach, the central government of India has released a draft of Healthcare Security Law under Digital Information in Healthcare Security Act (DISHA) a

Read More

Fintech Startup Cash Suvidha Raises $1 Mn In Pre-Series A Funding

Delhi-based online lending platform Cash Suvidha has raised $1 Mn in a Pre-Series A funding round from Initia Holdings; Vipin Agarwal, Partner in India Industrial Growth Fund and others.

Read More

On-Demand Driver Aggregator DriveU Raises $3 Mn In Pre-Series A Funding

Bengaluru-based on-demand driver aggregator DriveU has raised $3 Mn in Pre-Series A funding led by Singhal Foundation, an NGO working for education of underprivileged children.

Read More

WhatsApp Inches Closer To Full UPI Compliance, Enables Scan QR Code Feature

Over a month after Paytm accused Facebook-owned WhatsApp of trying to enter the country&rsquo;s digital payments market through unfair means by flouting NPCI norms on UPI, it seems that the in

Read More

Quona Capital Looking Forward To Raise $150-200 Mn Fund III With Anchor Investor Accion And Others

Quona Capital, the Washington-based fintech impact investor, which has been making investments in Indian companies from its Fund II worth $142 Mn is now en route to raising its Fund III.

Read More

Amazon India Closes In On Flipkart’s Dominance In Ecommerce Market: Forrester Report

In a report titled &lsquo;Online Retail Forecast (2017-2022) Asia Pacific&rsquo;, Forrester Research has found that Amazon India is now behind Flipkart by only 1% in GMV market share for 2017,

Read More

Emerald Media Invests $80 Mn In Sports Tech Company GSC

Private equity firm KKR-backed investment platform, Emerald Media, has led $80 Mn in Singapore and Chennai-based sports tech company GSC (Global Sports Commerce) through a combination of prima

Read More

Flipkart Burnt Through Nearly Half Of $6.1 Bn It Raised From Investors In The Last 10 Years

Homegrown ecommerce giant Flipkart has burnt through nearly half of the $6.1 Bn funding it raised from investors over the last decade, since it started operations in 2007. The company&rsquo;s

Read More

Music Streaming Giants Jio Music And Saavn Integrating Services With A Combined Value Of $1 Bn

Less than a month after the global giant, Amazon, entered the Indian music streaming space with Amazon Prime Music, two Indian music streaming majors &ndash; Reliance Jio Music and Saavn &ndas

Read More

Six Months After Raising $250 Mn Led By SoftBank, Hotel Aggregator OYO Is On The Hunt For Another $800 Mn

Gurugram-headquartered hotel aggregator OYO is reportedly in talks to raise $500 Mn-$800 Mn in funding. The development comes more than six months after the company secured $10 Mn from Chinese

Read More

Micro-Jobs Providing Startup GigIndia Raises Seed Funding From Angel Investors

Pune-headquartered GigIndia, which provides micro-jobs to students has raised an undisclosed amount of Seed funding from a consortium of angel investors. The list includes Jessica Wong, Foundi

Read More

Flipkart Revamps Logistics Network, Plans To Open Logistics Centre In Kolkata

After revealing the plans of setting up a state-of-the-art logistics centre in Bengaluru, Flipkart has now announced to open an 80 acres logistics centre in Kolkata to cater to its East and No

Read More

With $18 Mn Funding Led By Insight Venture, Chargebee Aims To Break-Even Profitability Soon

Chennai-based subscription management and recurring billing solutions startup Chargebee has raised $18 Mn growth capital from New York-based Insight Venture Partners. &nbsp;</di

Read More

As Flipkart Deal Intensifies, Walmart Eyes Higher Investments In India, Hiring Top Talent

As the talks about Walmart taking up major stake in Flipkart intensify, Walmart is looking to double its investments in India while hiring top technology talent and investing or acquiring Indi

Read More

Customer Engagement Company ZineOne Raises $2.5 Mn Funding From Omidyar Network

Silicon Valley-headquartered customer engagement company ZineOne has raised $2.5 Mn in Series A round of funding led by Omidyar Network. The company currently has an office in India. <d

Read More

Digital Payments Giant Paytm Records $20 Bn GTV Run Rate, Up From $5 Bn In March 2017

Homegrown digital payments giant Paytm has recorded a four-fold jump in its annualised gross transaction value (GTV) to $20 Bn (INR 1.3 Lakh Cr), up from $5 Bn in March 2017. &n

Read More

In Light Of Recent Facebook Breach, Privacy Advocates Demand Stronger Data Laws In India

After news of one of Facebook&rsquo;s biggest data breaches perpetrated by British big data analytics startup Cambridge Analytica surfaced earlier this week, privacy advocates in India are now

Read More

Micromax Invests In AI Based Startup One Labs To Imbibe Its Product InOne

Accelerating its journey towards creating a holistic service ecosystem, Micromax Informatics, the world&rsquo;s 10th largest handset maker, today announced its investment in a consumer technol

Read More

Ecommerce Giant Flipkart Asks Sellers To Bear 60% Of Discounts

Bringing a change in its discounting model, homegrown ecommerce player Flipkart has asked its sellers to deal with 60% of the discounts during sale events. &nbsp;

Read More

VC Firm Sequoia Capital To Slash Sixth India Fund Size By 25% To $600 Mn-$700 Mn

US-headquartered VC firm Sequoia Capital is reportedly slashing the size of its new India fund by 25%. This comes at a time when investors are taking a guarded approach towards the country&rsq

Read More

Swiggy Rolls Out UPI Driven Digital Payment Solutions For Its Delivery Partners

Homegrown food delivery company Swiggy has partnered with ICICI Bank to roll out two convenient and hassle-free digital payments solutions for its delivery partners. &nbsp;</div

Read More

After Google And Facebook, Twitter May Also Ban Cryptocurrency-Related Ads

After Facebook and Google, leading microblogging platform, Twitter, is now considering to ban Bitcoin and cryptocurrency-related ads. &nbsp; Twitter&rsquo;s new a

Read More

Homegrown Hotel Aggregator OYO Acquires Chennai-Based Novascotia Boutique Homes

Gurugram-headquartered hotel aggregator OYO has announced the acquisition of&nbsp; Chennai-based service apartment operator Novascotia Boutique Homes. This comes days after OYO announced its a

Read More

Ecommerce Behemoth Amazon India Modifies Seller Fees To Engage More Sellers

In an attempt to encourage sellers to engage more with its marketplace, Amazon India has reportedly altered its seller fees in various segments. The changes will be applicable from April 19.</

Read More

Foodtech Startup Fingerlix Raises $1.31 Mn Venture Debt From Alteria Capital

Ready to cook foodtech startup Fingerlix has raised $1.31 Mn (INR 8.5 Cr) of venture debt from the maiden venture debt fund launched by Alteria Capital this month. &nbsp;

Read More

Music Streaming Giant Spotify To Focus On Indian Market, Says CEO Daniel Ek

Sweden-headquartered music streaming giant Spotify is in the process of launching operations in India, co-founder and CEO Daniel Ek announced recently during the company&rsquo;s investor day p

Read More

Cab Leasing Arm Of Uber, Xchange Leasing India, Posts $10.7 Mn Revenue For FY17

The Mumbai-based cab leasing arm of Uber, Xchange Leasing India Pvt. Ltd, reported a revenue of $10.7 Mn (INR 69.7 Cr) for FY17. &nbsp; According to the filings w

Read More

SoftBank Leads $62 Mn Funding Round In Online Grocery Startup Grofers

Online grocery delivery startup Grofers has raised $61.6 Mn (INR 400 Cr) in a round of funding led by SoftBank. With this, the Japanese investment behemoth now holds a 35%-40% stake in the Gur

Read More

With Over 200 Instant Apps For Consumers, AppBrowzer Will Now Help Local Businesses To Create Express Apps In 10 Minutes

There is no doubt that this is the time for a booming app economy. While hordes of apps which are populating the Play Store and iOS store enable the users to do everything &ndash;&nbsp; from o

Read More

Fractal Analytics Acquires Behavioural Architecture Company Final Mile

Mumbai-headquartered data analytics company Fractal Analytics has acquired behavioural architecture company Final Mile. &nbsp; On the acquisition, Srikanth Velama

Read More

Google Maps Introduces Voice Navigation In 6 Additional Indian Languages, Plus Codes For Addresses

To outplay the latest aerial, indoor and 3D mapping innovations by HERE Maps and other competitors like TomTom and Bing &ndash; the undisputed leader of mapping solutions, Google Maps, has lau

Read More

Paytm Launches Wealth Management Products Gold Gifting And Gold Savings Plan

Digital payments player Paytm has announced the launch of two new services &ndash; Gold Gifting and Gold Savings Plan as a part of its wealth management offering Paytm Gold. Through these serv

Read More

Parenting Social Network Startup BabyOnBoard Gets Acquired By RoundGlass Partners

In a fresh turn of events, Seattle-based investor RoundGlass Partners has acquired parenting memories and milestone platform BabyOnBoard for an undisclosed amount. With this development, the s

Read More

Venture Capital Firm Kalaari Capital Looks To Sell Stake In Snapdeal

Venture capital firm Kalaari Capital, which was one of the early investors in Snapdeal, is looking to sell its stake in the ecommerce firm, as per two sources in the know. &nbsp

Read More

Fearless Mobycy Strides Ahead With Dockless Bike Sharing App To Contend With Ofo And Ola

Bicycles have always been a part of the socio-economic culture of India. The arrival of the British in India brought bicycles to the country. Sometime down the line, it started representing th

Read More

California Based Wibmo Acquires Payments Tech Startup Mypoolin

California-based payments solution company, Wibmo, has acquired Bengaluru-based payment technology startup Mypoolin in an undisclosed amount. The deal is said to be done in part cash and part

Read More

HDFC Bank Bars People Trading Bitcoin And Other Cryptocurrencies With Its Cards

After SBI Bank issued a warning against using SBI credit cards for trading cryptocurrencies, one of the leading private banks of India, HDFC Bank has stated that its credit, debit and prepaid

Read More

Matrix Partners India Led $17.2 Mn Funding Round In Online Lending Startup Avail Finance

Bengaluru-based online lending platform Avail Finance has raised $17.2 Mn in a Series A funding round led by Matrix Partners. The round is a mix of debt and equity. &nbsp;

Read More

Google To Ban Bitcoin And Cryptocurrency-Related Ads Including ICOs

After Facebook announced to ban cryptocurrency related ads earlier this year, it&rsquo;s the search engine giant Google, which is set to ban all cryptocurrency-related ads including ICOs.</div

Read More

Ecommerce Behemoth Flipkart To Bolster ‘Relatable Indian Brands’

As PM Narendra Modi has shifted the campaign from &lsquo;Positive India&rsquo; to &lsquo;Progressive India&rsquo;, ecommerce behemoth Flipkart is also set to unveil a new brand called &lsquo;N

Read More

Paytm App Stops Asking For Root Access On Android Phones

Last week, Paytm app asking for root access on Android phones had raised major concerns. Now after being flagged by a French security researcher, the digital payments player has fixed the sens

Read More

Foodpanda Announces Launch Of State-Of-The-Art Technology Centre In Bengaluru

Food delivery platform, Foodpanda has announced the launch of its technology centre in Bengaluru. The state-of-the-art technology centre will be operational in next few weeks. &

Read More

Digital Retail Payments Platform Pine Labs Raises $82 Mn Led By Actis

New Delhi-based digital retail payments platform Pine Labs has raised a funding round of $82 Mn led by Actis Capital and joined by new investor Altimeter Capital. &nbsp;

Read More

OYO Moves On From ZO Rooms Battle, Plans Acquisitions In India And Outside

Fighting off &ldquo;once burnt, twice save&rdquo;, OYO rooms is back in the game. Moving on from a fierce court battle with ZO rooms, the company is looking for some new acquisitions in the sp

Read More

HealthTech Startup HealthAssure Raises $1 Mn In Funding From The HR Fund

Following in the footsteps of ecommerce and fintech startups, healthtech is another sector where the Indian tech startups have been successful in attracting huge investments. After Healthifyme

Read More

Amazon Prime To Up Its Game In The Indian Video Battle, Looking To Add More Regional Content

The Indian video battle is getting intense. In order to up its game amidst players like Netflix, Hotstar, Voot in the $280 Bn video streaming market, Amazon Prime Video is reportedly looking t

Read More

Innov8 Coworking Goes Big With DLF, Brings In A 500 Seater World-Class Center In Cyber Hub Gurugram

Y Combinator-backed coworking space, Innov8, has launched its seventh centre in Gurugram. The fully-managed office space located at Tower 8B, DLF Cyber Hub, Haryana, has the capacity to house

Read More

Online Fashion Retailer Koovs To Raise Another $32 Mn Funding Round Soon

Koovs plc, a Delhi- and UK-based online fashion etailer is looking to raise another $32 Mn in an upcoming funding round. &nbsp; &ldquo;We will need up to $69.3 Mn

Read More

7 Myths About Accelerator Programs In India: Insights From Our Journey At Axilor

Running the largest accelerator program in the country, we get not only hundreds of startup applications but equally high number of questions from founders. The questions make three things cle

Read More

Estonia Announces E-Residency Programme To Support Indian Startups

As a warm welcome for Indian startups to the European Union (EU),Estonia has introduced its E-Residency programme for Indian startups to work in the country without any hassle.

Read More

Cryptocurrency This Week: Goldman Sachs Sends Notice To Bitcoin Exchange Bitman Sachs For Trademark Violation And More

The crypto community is getting bigger by the day despite the mixed reactions from corporate and regulatory authorities, as Bitcoin has got fans sharing a stronger covalent bond than that of &

Read More

Paytm, Alibaba And Tencent Strive For A Slice Of India’s Booming Gaming Industry

With Paytm recently launching a mobile gaming platform Gamepind, as part of its joint venture with Alibaba-owned AGTech Media, it is now Chinese Internet conglomerate Tencent that is looking f

Read More

Techstars To Launch Its Startup Accelerator Programme In India; Looks To Set Up An India Focussed Fund

US-based Seed accelerator and incubator Techstars will launch its new startup accelerator programme in India next month. To this end, the company has hired Bala Girisaballa, former Managing Di

Read More

PhonePe Hits Out At Paytm, Says Paytm’s Claims Of Being Largest Player On UPI Are Misleading

Things have not been quiet in the first two months of this year for the digital payments space in India.&nbsp; If a few days ago it was Paytm lashing out at WhatsApp for unfair play, now Flipk

Read More

Women In India Less Inclined To Entrepreneurship Due To Cultural Bias, Says Report

A study by Mastercard Index of Women Entrepreneurs (MIWE) has ranked India 52nd out of 57 countries judged on the basis of parity for women entrepreneurs. The report highlighted that the main

Read More

OLX Witnesses Major Growth In Pre Owned Cars Segment; Claims 77% Market Share

OLX, an online classifieds marketplace for auto, real estate and goods and services, registered a 50% growth in the number of buyers in the pre-owned cars category last year. During the said p

Read More

Flipkart Plans 4.5 Mn Sq Ft State-Of-The-Art Logistics Park In Bengaluru

Indian ecommerce giant Flipkart is planning to set up a 4.5 Mn square feet state-of-the-art logistics park in Bengaluru. &nbsp; The company claimed, in a statemen

Read More

Airbus Teams Up Two Indian Startups Accelerated Under Airbus BizLab

In an attempt to support the government&rsquo;s Make In India and Startup India initiatives, France-headquartered aeronautical products maker Airbus has signed contracts with two Indian startu

Read More

Low Cost Mobile Phone Maker BRITZO Sets Up Operations In India; Makes $15.3 Mn Make In India Commitment

Driven by the aim of digitising rural India, communications company BRITZO has launched its operations in the country, with a $15.3 Mn (INR 100 Cr) commitment towards the &lsquo;Make in India&

Read More