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

Ahead of Union Budget, traditional ‘halwa ceremony’ held at finance ministry; Nirmala Sitharaman launches mobile app
business

Ahead of Union Budget, traditional ‘halwa ceremony’ held at finance ministry; Nirmala Sitharaman launches mobile app

For the first time in India, the Union Budget 2021 will be paperless in the view of the coronavirus outbreak

Union Budget 2021: GST continues to be a challenge; govt must make changes to ease compliance burden
india

Union Budget 2021: GST continues to be a challenge; govt must make changes to ease compliance burden

GST Compensation Cess was introduced for an initial period of five years to compensate states from a revenue shortfall.

Union Budget 2021: Nirmala Sitharaman should give special focus on financial sector to kickstart economy
india

Union Budget 2021: Nirmala Sitharaman should give special focus on financial sector to kickstart economy

It is going to be a daunting task for the government and the finance minister is expected to take some crucial steps to kickstart the economy and bring the demand back to the pre-COVID-19 levels.

Furniture rental startup Furlenco raises Rs 20 crore in venture debt from Blacksoil
business

Furniture rental startup Furlenco raises Rs 20 crore in venture debt from Blacksoil

Furlenco has furnished over 150,000 homes across eight major cities in India and has AUM (assets under management) worth over Rs 200 crore.

Reliance Retail, Future Group's Rs 24,000 crore deal cleared by market regulator SEBI
business

Reliance Retail, Future Group's Rs 24,000 crore deal cleared by market regulator SEBI

The SEBI, in its letter of approval, listed a number of conditions in accordance to the Composite Scheme of Arrangement. The regulatory body has also referred to the apprehensions raised by Amazon.

Union Budget 2021: Industry body demands GST rate cut on agrochemicals, focus on R&D
business

Union Budget 2021: Industry body demands GST rate cut on agrochemicals, focus on R&D

CropLife India said slashing the GST rate will help lower the prices of agrochemicals and benefit farmers

CRED founder Kunal Shah backs Carl Pei's upcoming venture in an undisclosed amount of funding
business

CRED founder Kunal Shah backs Carl Pei's upcoming venture in an undisclosed amount of funding

"Carl is working on a new consumer electronics company that I am sure will be a disruptor in the tech industry. I am excited to be part of this journey,” Kunal Shah said.

Union Budget 2021: Focus must be on creating demand, encouraging infrastructure spending, says India Inc survey
business

Union Budget 2021: Focus must be on creating demand, encouraging infrastructure spending, says India Inc survey

India Inc expects the government to continue with its policy focus on strengthening the manufacturing ecosystem, promoting research and development, and incentivising futuristic technologies

Union Budget 2021: Hope Nirmala Sitharaman is able to reverse economic downturn caused by COVID-19
india

Union Budget 2021: Hope Nirmala Sitharaman is able to reverse economic downturn caused by COVID-19

The upcoming Budget is geared to be a pivotal moment in determining the future of the Indian economy.

Union Budget 2021: Govt needs to pursue disinvestment seriously next fiscal, else it may be a flop show again
india

Union Budget 2021: Govt needs to pursue disinvestment seriously next fiscal, else it may be a flop show again

Unlike 2020-21, the government cannot afford for disinvestments to be a flop-show in 2021-22 as well.

Union Budget 2021: Increase FDI cap to digital media from 26% to 49% to create level playing field, attract foreign investment
india

Union Budget 2021: Increase FDI cap to digital media from 26% to 49% to create level playing field, attract foreign investment

The digital media space has been attracting substantial foreign investments in the last few years and has been creating significant employment opportunities in India.

India's GDP within striking distance of attaining 'positive growth', says RBI
business

India's GDP within striking distance of attaining 'positive growth', says RBI

In an article about the state of India's economy, the RBI said that e-commerce and digital technologies are likely to be bright spots in India's recovery, but pre-pandemic levels of output and employment are still a long way off

CCI approves e-commerce giant Flipkart's acquisition of 7.8 percent stake in Aditya Birla Fashion
business

CCI approves e-commerce giant Flipkart's acquisition of 7.8 percent stake in Aditya Birla Fashion

Flipkart and Aditya Birla Fashion had announced the agreement in October 2020 in which Aditya Birla Fashion would be issuing a 7.8 percent stake to Flipkart on a preferential basis.

Online transactions grew 80 percent in 2020 driven by strong uptake from tier II, III cities, reports Razorpay
business

Online transactions grew 80 percent in 2020 driven by strong uptake from tier II, III cities, reports Razorpay

Razorpay said it witnessed a decline of 30 percent in digital payments initially during the lockdown, but after the first 70 days of the national lockdown, digital payments rebounded by 23 percent.

CoinSwitch Kuber raises $15 million from Ribbit Capital, Paradigm, Kunal Shah and others
business

CoinSwitch Kuber raises $15 million from Ribbit Capital, Paradigm, Kunal Shah and others

The three-year-old company will use the funds to enhance product, security, compliance and tech capabilities, and build a brand with a view to be the leading cryptocurrency investment platform for Indian users.

Fintech firm for merchants, BharatPe, raises Rs 50 crore debt from Trifecta Capital
business

Fintech firm for merchants, BharatPe, raises Rs 50 crore debt from Trifecta Capital

The debt raised will help further build the lending business and enable credit for millions of businesses across India's length and breadth told BharatPe co-founder and CEO Ashneer Grover.