News

05 Aug 2020   |   By Admin

NPCI is planning to join NFC technology with UPI to boost merchant payments

The National Payments Corporation of India is planning to use near field communication or NFC technology to make possible digital payments transactions between UPI apps and point-of-sale (PoS) devices...

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05 Aug 2020   |   By Admin

WhiteHat Jr has been acquired by Byju’s for $300 Mn

During the COVID-19 pandemic there are very few sectors which have seen any profit, one of those sectors is Edtech. Many of the startups in this space have raised funding in the past few months. Among...

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05 Aug 2020   |   By Admin

Oyo Restoring Salaries of Staff with Annual Pay Up to Rs. 8 lakhs

Oyo Hotels & Homes has announced it is restoring full salaries of employees with a fixed compensation of upto Rs 8 lakh and will gradually restore salaries of all other employees by December this year...

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05 Aug 2020   |   By Admin

Tata vs Mistry: India's biggest corporate battle in its last stages

Supreme Court will start its hearing from this month on the petitions filed by the Tata Sons and the Mistry family, to decide the legacy of the Tata group patriarch, Ratan Tata, 82, and the rights of...

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04 Aug 2020   |   By Admin

E-health startups making profit because of Shift towards online consultations

The nationwide lockdown caused by COVID-19 pandemic and social distancing rules to fight with the virus has in turn led to sharp growth for e-health startups. This is because the pandemic has forced c...

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04 Aug 2020   |   By Admin

Paytm Money launches stockbroking feature for Indian users

The wealth management subsidiary of One97 Communications, Paytm Money, has added a stockbroking feature within the app. The company was thinking about launching a stockbroking service for a while. Cur...

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04 Aug 2020   |   By Admin

SaaS startup inFeedo raises funding of $700K from Y Combinator

Software-as-a-service (SaaS) based inFeedo people analytics startup has raised $700,000 from startup accelerator Y Combinator in funding round along with other Indian startups that participated in the...

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03 Aug 2020   |   By Admin

CBDT Chief directs Taxmen to Compute Tax Demand for All Assessees By Aug 31

In a letter to Principal Chief Commissioners of Income Tax, Mody, Central Board of Direct Taxes Chairman PC Mody has asked the tax officials to calculate tax demand for all the assesses by August 31 a...

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02 Aug 2020   |   By Admin

Centre notifies GST e-invoicing from October with ₹500 crore threshold

The Central Board of Indirect Taxes and Customs (CBIC) has come up with a notification declaring e-invoicing of Goods and Services Tax (GST) for businesses with turnover above Rs 500 crore compulsory ...

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03 Aug 2020   |   By Admin

Drivezy to liquidate its two-wheelers and four-wheeler fleet

Due to the mounting debt and falling demand, Drivezy a vehicle rental platform is planning to sell around 30% of its 15,000 two-wheelers and part of its four-wheeler fleet to raise funds. The company...

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02 Aug 2020   |   By Admin

Govt announced changes in MSME loan guarantee scheme to include Lawyers, Doctors & Large Firms

The government announced the expansion of the Emergency Credit Line Guarantee Scheme (ECLGS) for micro, small and medium enterprises which were a part of the government’s Atma Nirbhar package. Accordi...

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30 Jul 2020   |   By Admin

SaaS Unicorn Freshworks received $85 Mn funding from Steadview Capital

In its Series H round of funding Indian SaaS unicorn Freshworks raised $85 Mn from Steadview Capital Management. The transaction which was closed in January 2020, has come at a gap of two months after...

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29 Jul 2020   |   By Admin

Flipkart Quick launched by Flipkart in Bengaluru

Flipkart has started Flipkart Quick in Bengaluru which is a 90-minute hyperlocal delivery service. Flipkart Quick will deliver grocery, dairy products, and vegetables, the service will also include de...

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29 Jul 2020   |   By Admin

Toppr raised Rs 350 Cr in Foundation Holdings in Series D round funding

Toppr is a Mumbai-based EdTech startup which in its Series D funding round led by Foundation Holdings has raised Rs 350 crore. Kaizen Private Equity which is the existing backer of the company also pa...

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29 Jul 2020   |   By Admin

SaaS startup Hevo Data secures $8 Mn funding

Hevo Data a cloud-based data-integration platform which in its Series A funding round led by Singapore-based VC firm Qualgro and angel investor, Lachy Groom, has secured $8 million. Chiratae Ventures...

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28 Jul 2020   |   By Admin

Wealth management startup Goalwise acquired by Niyo

Niyo Solutions Inc is a Digital banking fintech startup which is backed by Tencent Holdings. The startup is looking to expand its offerings into the wealth management space, and it took one step forwa...

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28 Jul 2020   |   By Admin

Byju’s raises $23 Mn from BOND Capital which takes Raveendran’s family stakes in company to $3.25 Bn worth

Regulatory filings of Bengaluru based EdTech Byju’s revealed that the company has raised a funding $23 million in a funding round which was led by Mary Meeker’s BOND Capital. The investment acquired b...

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27 Jul 2020   |   By Admin

Swiggy lays off around 350 employees

As the pandemic continues Swiggy is preparing for its second round of laying off its employees as business continues to suffer. According to reports the company is planning a major layoff of around...

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27 Jul 2020   |   By Admin

Women startup to benefit from new startup policies of UP government

In previous few years UP government has taken several steps to encourage entrepreneurs and establish new ventures and generate employment opportunities. The government aims at setting Uttar Pradesh...

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27 Jul 2020   |   By Admin

Ather Energy to get Rs 84 Cr investment from Hero MotorCorp

Electric scooter manufacturer Ather Energy in its Series C funding round backed by Hero MotorCorp has raised Rs 84 crore. The platform has received the latest investment after a gap of 14 months. I...

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27 Jul 2020   |   By Admin

Amazon to acquire 9.9% stake in Reliance Retail

While Mukesh Ambani is planning of buying Future group to strengthen its e-commerce ambitions, same time Jeff Bezos, CEO Amazon, according to reports is in talks with Reliance to acquire a 9.9% stake...

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27 Jul 2020   |   By Admin

Alibaba and Jack Ma summoned by court over a complaint filed by former staff

Alibaba’s founder Jack Ma was summoned by Indian court over a complaint filed by a former employee of UCWeb. The employee complained he was sacked wrongfully for raising concerns against objectiona...

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24 Jul 2020   |   By Admin

SHARK VENTURES, invests in herbal OTC products Start-up Green Cure

Shark Ventures alongwith other investors has invested in a herbal OTC product company GreenCure Wellness. The New Delhi based start-up, whose products have been approved by the Ministry of A...

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24 Jul 2020   |   By Admin

Nandan Nilekani working on credit infra to help small businesses access to loans

In order to revive the millions of small businesses from the effects of pandemic on the economy, a major new technological innovation is currently under work in order to connect the lenders...

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24 Jul 2020   |   By Admin

Cyber security startups coming up to provide advanced tech to deal with cyberattacks

In the times of COVID, technology is playing a major role in the functioning of most of the industries. As technology is evolving, the cyber attackers are also enhancing their attack methods, tools...

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24 Jul 2020   |   By Admin

Pandemic causing digital lending startups and NBFCs seek buyers

Digital lending startups will start partnering with smaller digital lenders and non-banking financial companies (NBFCs) and will look for buyers as the pandemic and ongoing moratorium on payments s...

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24 Jul 2020   |   By Admin

With oil companies looking for startups doorstep delivery of diesel may be possible very soon

Oil marketing companies (OMCs) have invited startups for holding bid to start doorstep delivery of diesel with the help of mobile petrol pumps. This is expected to be a big change awaiting the fuel...

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24 Jul 2020   |   By Admin

Nestaway is struggling to refund the tenants

Nestaway Technologies a startup which rent homes, is not able to pay back the security deposits to the tenants, despite the fact that due to the coronavirus pandemic company has vacated the premises...

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23 Jul 2020   |   By Admin

Okinawa an Electric scooter manufacturing start-up plans to expand dealership network

Okinawa an Electric scooter manufacturing start-up on Monday announced that it will increase the dealership network across the country from the present strength of 350 to 500. The company in order...

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23 Jul 2020   |   By Admin

Bengaluru based Pype to be acquired by Autodesk

Autodesk a 3D design software signed a definitive agreement to acquire Pype, which help in automating construction project management workflows by providing cloud-based solution. The acquisition wi...

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23 Jul 2020   |   By Admin

Travenues a subsidiary of ixigo is being acqui-hired by SpiceJet

SpiceJet which is a low-cost airline and air cargo operator has decided of aqui-hiring the company Travenues which is a Bengaluru-based airline technology company, a subsidiary of online travel agg...

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23 Jul 2020   |   By Admin

SBI will now give loans in minutes that too without physical documentation

As whole world continues its fight against coronavirus which is posing a threat for people health, another problem which is attracting the world’s attention is economic depression. The pandemic has...

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20 Jul 2020   |   By Admin

RBI governor Shaktikanta Das addresses SBI Conclave

Shaktikanta Das the governor of Reserve Bank of India (RBI) addressed the seventh SBI Banking and Economics Conclave. The central bank governor in his speech pointed out about the health as well as...

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20 Jul 2020   |   By Admin

Delhi-based startup ExMyB is helping the small businesses and vendors to ease their business

Many SMEs when they try to start a cloud kitchen company face problem in finding vendors who could supply quality kitchen equipment. Even searching on Google or e-commerce websites does not guarant...

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20 Jul 2020   |   By Admin

MobiKwik aims at becoming profitable this year

MobiKwik an Digital payments and financial services startup announced that its revenue has grown by 133% year-on-year to ₹379 crore in 2019-20. The company was also successful in bringing down its...

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20 Jul 2020   |   By Admin

LetsVenture syndicate invested in used-car leasing startup PumPumPum

PumPumPum is a startup based in Gurugram which offers used car leasing in the corporate and retail segment. The startup in its seed funding round has raised Rs 2.2 crore. The fund was raised from a...

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20 Jul 2020   |   By Admin

CureFit enters ready-to-eat segment, revives food-tech vertical to expand its business

CureFit which is a health and fitness startup has made its entry into ready-to-eat meal segment and is working to revive its foodtech arm EatFit by strengthening its packaged food business, which w...

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20 Jul 2020   |   By Admin

How Delhi based startup is enabling rural India to become financially inclusive through its app

In India approximately 72 percent of Indians live in rural areas, which translates to over 74 crores of Indians. As a result of financial illiteracy, lack of employment opportunities, as well as la...

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20 Jul 2020   |   By Admin

Startups give up office space to curb real estate costs

To cut down on costs amidst business uncertainty and with maximum number of employees of the companies working from home,  Startups have started giving up office space, including rented buildi...

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16 Jul 2020   |   By Admin

Reliance Jio and Google announced new Android-based operating system

Google and Jio are collaborating with each other to work on a new Android-based operating system. This operating system will be used to build affordable smartphones. Mukesh Ambani, Reliance Industr...

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15 Jul 2020   |   By Admin

The pandemic has forced the digital lenders to focus on existing borrowers

Digital Lending startups, have again started its operations of lending loans in June. Due to the ongoing business uncertainties the startups instead of acquiring new customers are rather focusing o...

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15 Jul 2020   |   By Admin

Flipkart raises $1.2 billion from Walmart in fresh funding

After Walmart bought stake in Flipkart with a $21-billion sale in 2018, now the Indian e-commerce company has announced that it has raised $1.2-billion equity from Walmart-led investor group. Compa...

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15 Jul 2020   |   By Admin

Funding Alert: Toppr plans to raise $50 Mn in Series D

Toppr an Edtech startup is aiming at raising $50 million in Series D round from existing and new investors. The investment will be used by the company to scale up operations and for launching two n...

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14 Jul 2020   |   By Admin

Mystifly raises $3.3 Mn in bridge round

Mystifly is a ten-year-old Bengaluru based startup which offers management software for payment processing and airline inventory to both online and offline travel aggregators. The company in its pre...

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13 Jul 2020   |   By Admin

India will get investment of ₹75,000 crore from Google to boost digital economy

Google has announced that in next 5-7 years it will invest over ₹75,000 crore ($10 billion) in India. Sundar Pichai the CEO of Google and Alphabet made the announcement at a virtual event 'Google f...

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13 Jul 2020   |   By Admin

Highest number of new startups reported in Delhi-NCR during January-June

As the digital ecosystem in India is becoming stronger and government continuous steps to boost the startup culture in India has resulted in Delhi-National Capital Region (NCR) witnessing the highe...

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11 Jul 2020   |   By Admin

Cars24 Financial Services get its first debt funding of ₹10 crore

Cars24 Services Pvt Ltd which is a part of Cars24 Financial Services Pvt Ltd, has succeeded in raising debt funding from Vivriti Capital Pvt Ltd of ₹10 crore. The company has informed that it will...

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10 Jul 2020   |   By Admin

Oyo shifts focus as restrictions are being relaxed across the globe

Oyo one of the oldest unicorns startup of India has come up with a strategy to primarily focus on European, South-East Asian, and Indian markets after the restriction imposed by government all over...

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10 Jul 2020   |   By Admin

Freshworks acquires Flint, an IT orchestration and Cloud management platform

Freshworks Inc which belongs to the unicorn group in Software-as-a-service (SaaS) sector has acquired Flint. Flint is an IT orchestration and cloud management platform whose acquisition by Freshwor...

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09 Jul 2020   |   By Admin

Three consulting agencies qualify tech round for startups

The government is constantly taking steps that are aimed at creating an ecosystem where a large number of startups can come up and turn into a global brand which would result in job creation. The S...

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09 Jul 2020   |   By Admin

Paytm will Acquire Raheja QBE For INR 568 Cr

Paytm in a quest to tighten its grasp in the insurance business by acquiring 100% stake in Raheja QBE for INR 568 Cr. Raheja QBE is a Mumbai-based private sector general insurance company which is...

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09 Jul 2020   |   By Admin

Loan Moratorium or Loan Waiver: MFIs Struggling to convince its borrowers

The terms of the loan moratorium scheme are creating a lot of confusion among the microfinance borrowers, especially women borrowers because of the widespread misinformation about the terms of the l...

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09 Jul 2020   |   By Admin

Uber acquired Postmates in an all-stock, $2.65B deal

The food delivery market saw a fresh development as Uber announced that it has acquired Postmates in a deal of $2.65 billion. Uber is planning of merging its own food delivery business, Uber Eats w...

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09 Jul 2020   |   By Admin

Sequoia Capital has committed $1.35 billion for India Venture & Growth Fund

The Silicon Valley investor company Sequoia Capital have committed a $1.35 billion fund for the India venture and growth fund, which would further fuel the start ecosystem in the region. The Sequoi...

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07 Jul 2020   |   By Admin

Government of India and the World Bank sign agreement for Tamil Nadu Housing Sector Strengthening Programme

A legal agreement was signed between the Government of India, the Government of Tamil Nadu and the World Bank which is aimed at providing affordable house to the low-income group in the state of Ta...

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07 Jul 2020   |   By Admin

Hero MotoCorp Chairman Pawan Munjal come up as investor for GoMechanic

The car servicing start-up GoMechanic got a new lifeline after the MotoCorp Chairman Pawan Munjal came forward as the investor for the company. GoMechanic released a statement and informed that it...

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07 Jul 2020   |   By Admin

Indian Companies stakes are slowly going into the hands of China central bank

As the tension on the border between India and China intensifies, the need for keeping a track of Chinese investment in Indian companies has also become important to strengthen our fight with China...

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26 Jun 2020   |   By Admin

Webinar on COVID-19: Opportunities for Indian Startups and Investors

Chamber of Startups, Industries and Entrepreneurs (India) Council, an apex body of the Startups in the country organised a free webinar, Covid-19: Opportunities for Indian Start...

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24 Jun 2020   |   By Admin

Government launches scheme for reviving NPA accounts in MSME; Rs. 20,000 crore guarantee cover to Stressed MSMEs

Shri Nitin Gadkari, Hon'ble Minister for Micro Small and Medium Enterprises (MSME) launched the Credit Guarantee Scheme for Sub-ordinate Debt (CGSSD). The fund is also called “Distressed Assets Fun...

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20 Jun 2020   |   By Admin

Urjit Patel is Back : Ready to Chair NIPFP - India'a Key Economic Think Tank

Former Reserve Bank of India Governor Dr. Urjit Patel will be the new chairman of the National Institute of Public Finance and Policy (NIPFP),  India's premier economic think tank. He will ass...

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19 Jun 2020   |   By Admin

Reliance becomes net debt-free ahead of its March 2021 target

Billionaire Mukesh Ambani said that Reliance Industries is now "in its golden decade". The Reliance Industries group achieved  the status of debt free much before its scheduled target on March...

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12 Jun 2020   |   By Admin

With $ 150 Mn Series C round SaaS startup Postman entered into unicorn club

Postman, an application programme interface (API) development platform joined the Unicorn club with its series C round of investment backed by Insight Partners, US based venture capital fund at a valu...

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01 Jun 2020   |   By Admin

Risers Accelerator to provide funding of up to INR 2 crore to startups working towards COVID-19 Relief

The entire world is facing one of the greatest crises ever in the history of humankind – the COVID-19 pandemic. It did not take this virus much time to crash the global economy and bring it to its...

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01 Jun 2020   |   By Admin

Cabinet approves Revised Definition of MSMEs, widening the turnover ambit for Medium Enterprises to Rs. 250 Cr

Cabinet Committee on Economic Affairs (CCEA) led by Hon'ble Prime Minister of India, Sri Narendra Modi, approved the revised definition of MSMEs with upward revision and accorded its approval for sett...

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30 May 2020   |   By Admin

Dr. H P Kumar Joins Advisory Board of Chamber of Startups, Industries and Entrepreneurs (India) Council

Dr. H P Kumar, former Chairman and Managing Director, National Small Industries Corporation (NSIC) has joined the Advisory Board of the Chamber of Startups, Industries and Entrepreneurs (India) Counci...

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15 May 2020   |   By Admin

Revision in MSME Definition

With a vision to create more job opportunities in the MSME sector, the Union Government revised the guidelines of classification for MSMEs. The revision in MSME definition will cover more units under...

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03 May 2020   |   By Admin

Paytm has started curbing expenditure as e-payments fall

Paytm has started curbing expenditure amid the Covid-19 pandemic to extend it’s runway. India’s most valued startup at $16 billion, the e-payment major, has been cutting costs at a rate of...

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20 Apr 2020   |   By Admin

10% provisioning on moratorium loans may knock off Rs 35,000 Cr bank profits

The RBI directive asking banks to make 10% provisioning on all moratorium loans will knock off at least Rs. 35,000 Cr of their profit in financial years 2019-20 & 2020-21, according to a report. ...

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20 Apr 2020   |   By Admin

SMEs will be benefited most by the 1Lakh Crore liquidity boost

Small businesses will be benefited the most by small and mid-sized non banking lenders, housing financiers and micro lenders from the Rs. 1 Lakh Crore targetted liquidity boost. NBFCs, HFCs and MFIs,...

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18 Apr 2020   |   By Admin

RBI announced freezing of NPAs for 3 months

The Reserve Bank of India has announced freezing of classification NPA for 3 months starting from March 1, yielding to a request made by bankers’ body the Indian Banks’ Association. This...

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17 Apr 2020   |   By Admin

Amazon announced 50% commission waiver for small sellers

Amazon announced 50% waiver on commissions for small sellers on it’s platform till June. This is part of efforts to bring back diversity to it’s products and diminish the financial stress...

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17 Apr 2020   |   By Admin

SIDBI, NABARD & NHB have been provided a liquidity facility to enable lending to MSMEs

Specialized lending institutions like SIDBI, NABARD and NHB have been provided a liquidity facility of Rs. 50,000 Crores for lending to SMEs and also the housing sector. Tightening of economic c...

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16 Apr 2020   |   By Admin

US based VC- Lightspeed raises $1.5 Bn Opportunity Fund to back Startups in India

US based venture capital firm Lightspeed Venture Partners has announced the concluding close of 3 funds- Lightspeed Venture Partners XIII (Fund XIII), Select Fund IV, and Lightspeed Opportunity Fund....

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16 Apr 2020   |   By Admin

Auto dealers are staring at the prospect of shutting down

Many small and medium sized auto dealers are staring at the aspect of shutting shop or mergin businesses with larger dealers as auto sales remain erratic even after the end of the lockdown. There are...

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15 Apr 2020   |   By Admin

Faircent announced Anti Lockdown Loans to help ease liquidity

NBFC-P2P lender, Faircent.com, announced “Anti-Lockdown Loans” to help credit-worthy businesses and individuals access credit to meet their short term needs that have arisen due to the loc...

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15 Apr 2020   |   By Admin

Gadkari asked industry to release the payments due to MSMEs

Union minister Nitin Gadkari has asked the industry to release payments due to micro, small and medium enterprises  across the country. Gadkari told senior members of FICCI via video conferencin...

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14 Apr 2020   |   By Admin

More packages will come to address the needs of MSMEs and big enterprises

While addressing a webinar on Monday, NITI Aayog CEO Shri. Amitabh Kant assured that the finance ministry is taking measures to support the sectors hit the country due to the ongoing lockdown and reli...

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14 Apr 2020   |   By Admin

Turning crisis into opportunity, India needs to renew focus on infrastructure

Turning 'crisis into opportunity', India needs to regenerate focus on infrastructure in the wake of the damage caused by Coronavirus outbreak and discussion are going on with state governments to re-s...

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13 Apr 2020   |   By Admin

Gadkari said MSME sector will curb Covid-19 crisis

The MSME sector will tide over the immense fumble caused by the Covid-19 crisis, and reduce chinese import reliance by ramping up domestic manufacturing with the government support, Union Minister Nit...

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12 Apr 2020   |   By Admin

Venture Capital Association has requested SIDBI to ease the funding criteria

Indian Private Equity & Venture Capital Association has requested Small Industries Development Bank of India (SIDBI) to facilitate the qualifying criteria for it’s freshly announced Covid-19 Sta...

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11 Apr 2020   |   By Admin

Indian Startups & VCs requested for relief packages from the Government

More than 70 startup founders, lobby groups and venture capitalists in India have requested the government of India to grant them a “robust relief package” to battle the stern disruptions...

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11 Apr 2020   |   By Admin

IMF MD ropes in Raghuram Rajan, 11 others to key external advisory group

International Monetary Fund, MD Kristalina Georgieva on Friday named former RBI Governor Raghuram Rajan and 11 others to her external advisory group to give reviews from around the globe on key progre...

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11 Apr 2020   |   By Admin

Index Ventures announced $2B in New Funds to Support Emerging Entrepreneur

One of the biggest name in VC, Index Ventures, has announced $2 billion new funds to support emerging Entrepreneurs.  A spokesperson said in a statement that the focus for Index Ventures will be...

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10 Apr 2020   |   By Admin

BOB launches Covid-19 loan for retail customers

Bank of Baroda has launched a specialized personal loan for it's existing retail customers who may face liquidity crunch due to the current COVID 19 pandemic. Customers can approach their existing br...

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10 Apr 2020   |   By Admin

MSME exporters will be impacted more by Covid-19 pandemic

Micro, small and medium enterprises (MSME) exporters will be more impacted by this situation on account of Covid-19 pandemic because the domain accounts for over 45 per cent within the country's total...

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10 Apr 2020   |   By Admin

India seen unveiling second coronavirus stimulus to help small firms

A second stimulus package India is poised to announce in coming days will be worth around Rs 1 lakh crore and target on aid for small and medium businesses, according to sources. Last month, India ou...

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09 Apr 2020   |   By Admin

Oil demand sink 70% in India as third-biggest buyer shuts down

Oil demand in the planet's third-biggest consumer has slumped by as much as 70% as India endures the planet’s largest national lockdown. The estimate for the present demand loss is a bleak remi...

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09 Apr 2020   |   By Admin

Covid-19: DRDO and ITI to ink MoU for manufacturing portable ventilators

The Defence Research and Development Organisation (DRDO) and the Indian Telephone Industries (ITI) are likely to ink a MoU soon to manufacture portable ventilators, following the Covid-19 outbreak. I...

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08 Apr 2020   |   By Admin

L&T wins Big contract from Indian Oil for capacity expansion at Barauni Refinery

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over USD 21 billion in revenue. It operates in over 30 countries....

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08 Apr 2020   |   By Admin

Automakers turn to online sales to boost volumes

Automobile companies Hyundai Motor India, MG Motor and Mercedes-Benz are moving to online portals for boosting sales, expecting customers to make a slow return to physical showrooms once the lockdown...

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08 Apr 2020   |   By Admin

Covid-19 outbreak: NBFCs face challenges of debt repayment and cash shortage

NBFCs are on the border with commercial paper worth Rs. 1.6 lakh crore and non convertible debentures worth Rs. 87,000 crore turning out for redemption by June as cash flows dwindle and banks play har...

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07 Apr 2020   |   By Admin

Over 20% Export orders cancelled

Covid-19 has led to exporters bleeding with upwards of 15-20% of the orders getting cancelled and a significant amount of funds being locked up. Prime Minister Narendra Modi on Monday highlighted the...

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06 Apr 2020   |   By Admin

Pune startup develops UV-powered sanitisation unit in 48 hours

Pad Care Labs, a start-up based in Pune developed a sanitization unit to disinfect the surface area, in an attempt to fight corona virus pandemic. Ajinkya Dhariya, an entrepreneur said, "This sa...

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05 Apr 2020   |   By Admin

IIT Hyderabad's startup develops low-cost ventilator to fight COVID-19

Amid the acute shortage of ventilators in the nation owing to the deadly pandemic of Covid-19, Indian Institute of Technology, Hyderabad has come up with a low-cost, portable, emergency-use venti...

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04 Apr 2020   |   By Admin

Disbursal plan for women holding PM Jan Dhan Yojna Account

The Ministry of Finance unveiled a disbursal plan for the women PM Jan Dhan Yojana account holders for them to withdraw Rs.500 by maintaining social distancing. Following Finance Minister Nirmala Sit...

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04 Apr 2020   |   By Admin

Traders can import-export goods without furnishing bonds

The Central Board of Indirect Taxes and Customs has allowed traders to submit an undertaking instead of furnishing bonds which is required by customs for assessment and clearing of goods, in order to...

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03 Apr 2020   |   By Admin

Direct Tax collection falling 12.2% short of target

Direct tax collections declined to Rs 10.27 lakh crore in the year ended March 31, falling 12.2% short of target.  The collections missed the revised estimate of Rs 11.7 lakh crore in the Union...

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03 Apr 2020   |   By Admin

$1 billion aid approved by World Bank to India to fight Covid-19

The World Bank’s Board of Executive Directors has approved a fast-track $1 billion India COVID-19 Emergency Response and Health Systems Preparedness Project to help India prevent, detect, and re...

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01 Apr 2020   |   By Admin

14% shortfall likely in direct tax mop-up

Collection of direct tax for the just-concluded fiscal 2020 is expected at Rs 10.1 lakh crore, well short of the government’s most recent estimate of Rs 11.7 lakh crore.  The near-14% shor...

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01 Apr 2020   |   By Admin

Fiscal deficit at 135% of Budget Estimates in February

India's fiscal deficit at the end of February was 135.2% of the revised estimate for the fiscal year 2019-20, official data showed on Tuesday. The data released by the Controller General of Accounts...

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31 Mar 2020   |   By Admin

15% fall in IndusInd Bank

Shares of IndusInd Bank plunged 15 per cent in Tuesday's trade. The scrip fell 15 per cent to hit a low of Rs 349.85, taking its year-to-date fall to 77 per cent. The bank in a conference call indic...

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31 Mar 2020   |   By Admin

SpiceJet shares jump 3%

Shares of SpiceJet gained 3 per cent in Tuesday's trade after HDFC Trustee Company, a wholly owned subsidiary of HDFC, bought 34 million shares or a 5.45 per cent stake in low-fare airline. At 9:36 A...

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29 Mar 2020   |   By Admin

Rate Cut announced by the Reserve Bank of India

The finance ministry has directed public sector banks to ensure last-mile implementation of the rate cut announced by the Reserve Bank of India (RBI) on Friday. It has asked the lenders to pass on th...

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29 Mar 2020   |   By Admin

Defaulters must settle dues within 15 days of agreeing on amount under Vivaad Se Vishwas Scheme

India’s direct taxes body has clarified that defaulters need to settle their tax dues within 15 days from the time the disputed amount is mutually agreed upon, under its dispute settlement mecha...

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28 Mar 2020   |   By Admin

IMF head says global economy has now entered a recession

The head of International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. IMF Managing Director Kristal...

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27 Mar 2020   |   By Admin

Coronavirus Crisis - RBI announces Targetted Liquidity measure

India’s central bank announced several measures to help the economy tide over the crisis stemming from the novel corona virus pandemic- 1. Special lines of liquidity 2. Loan moratorium3. E...

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27 Mar 2020   |   By Admin

RBI announces 3 months moratorium on EMI installments of all term loans

The Reserve Bank of India has announced that banks are permitted to allow a 3-month moratorium on payment of instalments of all term loans outstanding on March 1, 2020. This decision applies to al...

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27 Mar 2020   |   By Admin

PSBs announce COVID-19 emergency credit line

As many as 15 PSBs out of the total 18 government-owned banks till Thursday evening announced schemes to mitigate hardship faced by various segments. Taking the lead, the country's largest lender SBI...

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26 Mar 2020   |   By Admin

To battle with Covid- 19, IMF, World Bank call for suspension of debt payments by poorest nations

The International Monetary Fund and World Bank on Wednesday called for governments to put a hold on debt payments from the world's poorest nations so they can battle the coronavirus pandemic. "The Wo...

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26 Mar 2020   |   By Admin

Covid-driven tax reliefs to cost government 2-3% of GDP

Many analysts have said the lockdowns will shave off as much as Rs 9 lakh crore of the GDP. Taxation experts have welcomed the measures announced by the government, saying these steps will add up to...

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25 Mar 2020   |   By Admin

COVID-19: Indian Bank announces additional funding facility

Amidst the corona virus outbreak, state-run Indian Bank on Wednesday announced an additional funding facility for large corporate, MSME, retail customers, pensioners and self-help groups. Last week,...

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25 Mar 2020   |   By Admin

Key Announcements by Nirmala Sitharaman in Covid relief measures

Financial Services: Debit card holders who withdraw cash from any bank ATM can do it free of any charge for next three months. The measure has been taken to ease the burden on customers who need ur...

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25 Mar 2020   |   By Admin

SBI commits 0.25% of annual profit to help fight COVID-19

The bank will use this fund for various activities related to COVID-19 mainly to support health care for underprivileged people in cooperation with health care professionals and industry. Some of the...

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25 Mar 2020   |   By Admin

World’s back office scrambles to stay online as India locks down

Companies in India are scrambling to ensure that the millions who staff the back offices of Wall Street banks and take on work outsourced by firms from airlines to insurers can keep going as the natio...

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25 Mar 2020   |   By Admin

Micro finance firms are slowing down new loan disbursements

Microfinance firms are slowing down new loan disbursements in the country's rural heartland as a direct fallout of the coronavirus outbreak. They are also facing non-repayment from borrowers whose ear...

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25 Mar 2020   |   By Admin

HDFC BANK Chief Executive said the Indian Economy is in ICU

HDFC Bank chief executive Aditya Puri said the Indian economy is in an intensive care unit, requiring both the Reserve Bank of India (RBI) and the government to come up with emergency measures to prot...

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25 Mar 2020   |   By Admin

Covid-19 in India: Only basic payment, transfer operations at banks

Indian banking services, apart from basic payment and transfer operations, are likely to come to a halt as lenders impose restrictions on the movement of employees and their interaction with customers...

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23 Mar 2020   |   By Admin

Restructuring of debt scheme comes as a relief to MSMEs

Finance Minister Nirmala Sitharaman said on Wednesday that banks have informed the Finance Ministry regarding the number of Micro, Small and Medium Enterprises (MSME) that have been restructured, ...

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23 Mar 2020   |   By Admin

DMK MP Expresses Concern Over Decline In MSME Sector's Share In GDP

DMK parliamentarian T K S Elangovan on Wednesday expressed concern over the decline in the share of MSME sector in the country's GDP to 28 per cent from 45 per cent in 2011 and said smaller industries...

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23 Mar 2020   |   By Admin

Govt, Big Pvt Firms Owe Rs 6 Lakh Cr To MSMEs; Centre To Address Issue In 3 Months: Gadkari In RS

MSME Minister Nitin Gadkari on Thursday expressed serious concern over non-payment of nearly Rs 6 lakh crore dues to micro and small enterprises by government and large private firms, and said the Cen...

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23 Mar 2020   |   By Admin

COVID-19: Cong Demands Special Package For MSMEs, Agriculture Sector

The Congress on Sunday demanded a special package for MSME and agriculture sectors, besides more testing and medical facilities amid a spurt in coronavirus cases. Congress chief spokesperson Randeep...

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23 Mar 2020   |   By Admin

Indian Economy To Benefit From Slump In International Oil Prices

The Indian economy will likely see significant benefits in the form of lower current account deficit, reduced inflation and higher GDP following a slump in international crude oil prices, Kotak Instit...

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21 Mar 2020   |   By Admin

MS Dhoni Recalls Struggler Days After Declaring New Investment In Indian Fintech Startup

MS Dhoni has made an investment in Bengaluru-based startup KhataBook that is helping small and medium businesses in India to manage their accounts and ledgers. MS Dhoni will not only invest in th...

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21 Mar 2020   |   By Admin

Startups To Play Key Role In Indian Space Industry: VSSC Director

Startups are set to play a bigger role in the production of space systems in the industry 4.0 as exploring commercial opportunities for Indian space sector will be crucial by 2050 , S Somnath, Directo...

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25 Mar 2020   |   By Admin

Paytm Plans To Invest Rs 500 Cr In Tech Startups

Digital payments firm Paytm on Monday said it plans to invest Rs 500 crore in early stage startups that build complementary technologies augmenting the digital ecosystem. The company will focus on art...

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