business

Intel to acquire 0.39% stake in Jio Platforms for Rs 1,895 cr; will be 12th firm to invest in Reliance Industries' digital arm
india

Intel to acquire 0.39% stake in Jio Platforms for Rs 1,895 cr; will be 12th firm to invest in Reliance Industries' digital arm

The Intel deal values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

At 8.5 percent, unemployment rate falls to pre-lockdown levels, suggests CMIE data; rural employment likely to see 'bigger gains' in coming months
business

At 8.5 percent, unemployment rate falls to pre-lockdown levels, suggests CMIE data; rural employment likely to see 'bigger gains' in coming months

India’s unemployment rate reduced to pre-lockdown levels at 8.5 percent during the week that ended on 21 June, Centre for Monitoring Indian Economy (CMIE) said.

Google Pay says all transactions are fully protected by redressal processes laid out by RBI, NPCI
business

Google Pay says all transactions are fully protected by redressal processes laid out by RBI, NPCI

The statement comes against the backdrop of social media buzz that issues that might arise while transferring money through Google Pay cannot be redressed under law as the app is unauthorised.

SEBI comes out with operational framework for transactions in defaulted debt securities, to be implemented from 1 July onwards
business

SEBI comes out with operational framework for transactions in defaulted debt securities, to be implemented from 1 July onwards

Markets regulator SEBI allowed transactions in defaulted debt securities and put in place operational framework for such transactions

Burger King India raises nearly $50 million from GIC and other anchor investors as IPO opens
business

Burger King India raises nearly $50 million from GIC and other anchor investors as IPO opens

Fast-food giant Burger King aims to raise Rs 810 crore from its Initial Public Offering going live on 2 December 2020.

Flipkart India revenue up 12 percent in the financial year 2020 even as losses drop 18 percent
business

Flipkart India revenue up 12 percent in the financial year 2020 even as losses drop 18 percent

E-commerce giant Flipkart sees not only a rise in revenue but also expenses for the financial year 2020.

Facebook to buy customer service startup Kustomer for $1 billion
business

Facebook to buy customer service startup Kustomer for $1 billion

Kustomer helps its users automate and align all customer support related issues into one stream.

Cred raises $80 million in a funding round led by DST Global, valuation now up at $800 million
business

Cred raises $80 million in a funding round led by DST Global, valuation now up at $800 million

Along with DST Global, Ribbit Capital, Sequoia Capital, and Tiger Global have also invested in Cred.

GST revenues cross trillion mark for second straight month at over Rs 1.04 lakh crore in Nov
business

GST revenues cross trillion mark for second straight month at over Rs 1.04 lakh crore in Nov

At Rs 1,04,963 crore, the November 2020 collections were higher than Rs 1.03 lakh crore recorded in November 2019 but were Rs 192 crore lower than October 2020 collections

Supreme Court rejects Chanda Kochhar's appeal against sacking as CEO of ICICI Bank
business

Supreme Court rejects Chanda Kochhar's appeal against sacking as CEO of ICICI Bank

The top court was hearing Kochhar's appeal against an order of the Bombay High Court, which had dismissed her plea against termination, noting that the dispute arises from a contract of personal service

Paytm Money launches IPO investments, empowers investors to participate in initial public offerings
business

Paytm Money launches IPO investments, empowers investors to participate in initial public offerings

Paytm Money wholly-owned subsidiary of Paytm aiming for 8-10 percent IPO market share in the first year of launch.

Kaagaz Scanner, an Indian mobile app secures $575,000 in funding led by Pravega Ventures
business

Kaagaz Scanner, an Indian mobile app secures $575,000 in funding led by Pravega Ventures

A homegrown mobile application co-founded by a group of three raises funding after rapid growth in the last four months.

Stop banks from offering cashbacks on online purchases, CAIT demands in letter to Nirmala Sitharaman
business

Stop banks from offering cashbacks on online purchases, CAIT demands in letter to Nirmala Sitharaman

The traders’ body called for immediate action to stop the practice and a thorough probe into why banks were extending discounts only on purchase from designated e-commerce portals

E-commerce companies violating FDI policy, need empowered regulatory authority, claims CAIT
business

E-commerce companies violating FDI policy, need empowered regulatory authority, claims CAIT

CAIT also claimed that various government authorities, despite being custodians of the law, have "failed to protect the sanctity of the policy and law of the government"

Foreign portfolio investors remain net buyers in November, invest record Rs 60,358 crore in equities
business

Foreign portfolio investors remain net buyers in November, invest record Rs 60,358 crore in equities

Global investors are preferring investing in emerging markets more than developed markets as the potential upside is much higher, said Harsh Jain, co-founder and COO at Groww

Can improve on Rs 33,000 crore takeover offer for DHFL, says Adani Group
business

Can improve on Rs 33,000 crore takeover offer for DHFL, says Adani Group

The group, which had initially bid only for DHFL's wholesale and SRA portfolio, in a revised offer on 17 November bid for the entire book, offering a total of Rs 30,000 crore plus interest of Rs 3,000 crore, said a source

Indian government issues fresh guidelines for cab aggregators like Uber, Ola putting a cap on surge pricing
business

Indian government issues fresh guidelines for cab aggregators like Uber, Ola putting a cap on surge pricing

Prices of cab availing services likely to get lower as the government issues new guidelines to cab aggregators.

Indian economy contracts 7.5% in July-September quarter amid COVID-19 outbreak
business

Indian economy contracts 7.5% in July-September quarter amid COVID-19 outbreak

The GDP had expanded by 4.4% in the corresponding July-September period of 2019-20, according to NSSO data

Flipkart Group and Amazon corner 88 percent market share in festive sales: Report
business

Flipkart Group and Amazon corner 88 percent market share in festive sales: Report

Flipkart and Amazon record combined sale of $7.3 billion as online shopping gets a boost due to pandemic.

Amazon Pay, Paytm, PhonePe and 16 other companies become NPCI shareholders
tech

Amazon Pay, Paytm, PhonePe and 16 other companies become NPCI shareholders

National Payments Corporation of India brings onboard new members as part of its shareholding party.