BUSINESS
KreditBee eyes offline expansion to reduce loan disbursement timelines
The offline stores are expected to come up in various towns and cities in Karnataka by the end of FY24. KreditBee will also hire industry leaders with expertise in offline lending to lead this business vertical.
BUSINESS
Google Cloud introduces AI security features for enterprises, shares road map
With security being at the forefront, talent is a concern for Google. While looking to elevate its in-house security experts, the search giant is also helping other companies nurture and build their security talent pool capabilities.
BUSINESS
1K Kirana Bazaar raises $2-3 million from existing investors, a month after layoffs
According to sources, the funding will help the start-up sustain its business for a while following large-scale downsizing and funding deal cancellations.
BUSINESS
India on right track in shaping global crypto regulations: WazirX co-founder Nischal Shetty
Shetty, co-founder of WazirX and L1 blockchain Shardeum discussed the final release of the new blockchain network, crypto regulations, Binance dispute, hiring and fund-raising plans and his journey as a serial entrepreneur, in an interview with Moneycontrol.
BUSINESS
Microsoft invests in Gurugram-based Builder.ai to develop AI-powered solutions for businesses
Through this partnership, Builder.ai will also be able to accelerate its go-to-market growth for SMBs and enterprises by leveraging the deep product connections across the Microsoft product ecosystem.
BUSINESS
Combining AI to build products is the next phase of growth for blockchain, says Nischal Shetty of Shardeum and WazirX
Shardeum’s engineering team has built an internal ChatGPT plugin to review their codes.
BUSINESS
Cars24, Spinny, Olx Auto, Mahindra First Choice write to MoRTH for changes in new registration portal
Concerns were raised on mandatory GST registration, and rules for multiple deemed ownership transfers, to name a few.
BUSINESS
India will be Coursera’s largest global market by the end of 2023: India and APAC MD
Raghav Gupta said Coursera is piloting a jobs portal named Coursera Hiring Solutions. It is first getting tested in India before being taken global.
BUSINESS
Indian startups cut employee spend by $700 million in FY23
Startups are estimated to shell out $7 billion in employee costs in FY23, according to UnearthInsight data.
STARTUP
Indian startups save $200 million in tech costs, $800 million in ad spends in fiscal 2023
Meesho and Dealshare have slashed cloud costs by as much as 50 percent, according to UnearthInsight’s data
BUSINESS
After a dismal Q4 amid macro challenges, what is in store for IT firms in FY24?
The year is set to be a challenging one for IT companies as pressure piles up on margins and clients demand pre-inflationary pricing
BUSINESS
LTIMindtree pipeline strong, aiming for double-digit growth in FY24, says CEO Debashis Chatterjee
Though there is a bit of a freeze in the banking and financial services space, the company is hopeful that, by Q1, it will be clear. When two organisations merge, two sets of leaders also come together and some exits are normal, says Chatterjee
BUSINESS
IT and ChatGPT: Generative AI gains ground among India's top IT firms
While there is demand for generative AI-based solutions, companies are also worried about its implications. This has already led some firms to regulate its use, or ban the technology entirely
BUSINESS
Tech Mahindra CEO Gurnani bets big on futuristic tech, IT service resurgence
The IT services firm reported an order book of $592 million for Q4FY23, down by 25.5 percent QoQ from $795 million in Q3.
BUSINESS
Tech Mahindra adds 1,227 employees in FY23, over 95% plunge from last FY
In Q4FY23, Tech Mahindra's overall headcount declined by 4,688 QoQ.
BUSINESS
55% investors felt early stage startups were overvalued in 2022 : InnoVen Capital Report
According to the report, Climate-tech, Fintech and SaaS will be the hottest sectors to invest in 2023, even as the funding slowdown from 2022 is expected to persist.
BUSINESS
Marks and Spencer extends partnership with TCS to transform core tech stack
In the next phase of the partnership, TCS will simplify M&S’ technology landscape and modernise its core business systems with a cloud-first and composable platform strategy.
BUSINESS
TCS plans to double the salary, reduce disparity: HR head reveals the blueprint
According to TCS’ CHRO Milind Lakkad, employees across levels of experience are getting a chance to up-skill and double their packages with high-quality in-house programmes. Though annually only 10 percent of candidates have been able to clear this programme on the first attempt.
BUSINESS
Automation, cost-efficiency will be the biggest themes for deal wins in FY24: HCLTech CEO
CEO C Vijaykumar expects the attrition rate to drop further and stabilise at 15 percent in the next couple of quarters. The company plans to add 13,000-15,000 freshers in FY23-24.
BUSINESS
44 out of 108 Indian unicorns are SAP clients: President & MD Kulmeet Bawa
Bawa said he would like to soon sign up all the other unicorns in India. He pointed out that almost 60% of India’s GDP touches the SAP system, given its dealings with MSMEs.
BUSINESS
Uncertainties in bookings remain restricted to discretionary tech spending: HCLTech CEO
HCLTech's consolidated net profit for the quarter ended March 2023 stood at Rs 3,981 crore, up 10.61 percent against Rs 3,599 crore a year back.
BUSINESS
HCL Tech slows down employee addition, hiring drops to 17,067 from nearly 40,000
HCLTech added 3,674 employees in the fourth quarter ended March 31, 2022. The total headcount of the company at present stands at 225,944.
BUSINESS
SAP SE launches Grow with SAP in India to capture MSME segment
Almost 80 percent of SAP’s customers in India are coming from mid-sized companies, said Kulmeet Bawa, president and MD, SAP Indian Subcontinent
BUSINESS
Tim Cook opens Apple’s first India store to the beat of dhols
Customers had swarmed in from across the country and camped overnight. Some had designed special T-shirts and brought legacy Apple products hoping to get them signed by Tim Cook.
