BUSINESS
India books a diplomatic win at G20 digital economy meet
About 80 percent of the agenda set by India for the digital economy working group is expected to get nods by members, says senior official
BUSINESS
Indian government’s ChatGPT tool will help students with homework, in any language
India is leveraging ChatGPT for building two important projects – democratisation of school education in vernacular languages and spreading awareness about government schemes
BUSINESS
Those giving up long-term growth for short-term profitability are wrong: Nykaa’s Falguni Nayar
Nayar highlights the lipstick effect, says people will spend more on beauty when they can't afford big pleasures
BUSINESS
BharatPe fight escalates: Ashneer Grover writes to NPCI, independent director alleging data theft by Bhavik Koladiya
Ashneer Grover has alleged that there is a serious breach of data of over 150 million UPI users at BharatPe by Bhavik Koladiya.
BUSINESS
SoftBank invested $300 million in Q3, doesn’t want to ‘rush and waste money’
SoftBank CFO says that the company is ready for three scenarios — linear early recovery, instability followed by recovery in H2 2023 which is based on the view of the majority of the unlisted market, and the worst case scenario of recovery after 2024
BUSINESS
Paytm on hiring mode to rope in more merchants, sell payment devices
Fintech major aims to expand presence by over 2X to 1,000 cities and towns in the next 2-3 years, but profitably
BUSINESS
Explained | How a new angel tax provision has struck fear in startups, VCs
In an about-turn that no one saw coming, the government seems to have tightened the noose on foreign funding for startups even as the sector grapples with a funding crunch with no end in sight
BUSINESS
Paytm Q3 revenue rises 42% to Rs 2,062 crore; net loss narrows to Rs 392 crore
Paytm founder and CEO Vijay Shekhar Sharma said the company had achieved operating profitability in Q3
BUSINESS
Ant Group nominee on Paytm board of directors resigns
Ant is an affiliate company of Chinese e-commerce giant Alibaba, which sold $125 million of shares in Paytm last month
BUSINESS
Budget 2023: New angel tax provision may make it tougher for SoftBank, Tiger Global to invest in startups
New amendment to finance bill removes angel tax exemption given to foreign investments; move may lead to more startups flipping their domicile to abroad
BUSINESS
Budget 2023: Subsidy for digital payments jumps two-folds to Rs 2,137 crore
The government’s budgetary allocation for this item has remained stagnant at Rs 1,500 crore for FY24, for the third consecutive year
BUSINESS
Economic Survey 2023: Startup job creation galloped 36% to 269,000 jobs last year
According to the Economic Survey, the number of recognised startups in the country has increased from 452 in 2016 to 84,012 in 2022. About 48 percent of India's startups are from tier 2 & 3 cities
BUSINESS
Economic Survey 2023 says startups exploring reverse-flipping, suggests tax regimes like Singapore, UAE
Economic Survey 2023: It has suggested measures like simplification of ESOP taxation and capital flow procedures like those in the US and Singapore to encourage reverse-flipping
BUSINESS
Govt appoints 3 committees to hear user appeals against social media platforms
Any user aggrieved by a decision of an intermediary's own grievance officer can appeal to the government-appointed Grievance Appellate Committee (GAC) within a period of 30 days.
BUSINESS
BharatPe filings reveal salaries of Ashneer, Suhail and Rajnish
Grover, who is battling multiple legal proceedings brought on by BharatPe, had raised concerns over Rs 315 crore of ESOPs being granted to BharatPe’s top brass in FY22
BUSINESS
Tiger Global-backed Dealshare lays off 6% of staff
Dealshare’s annualised revenue rate has fallen by a third to around $600 million from the peak of $900 million achieved last year, says founder Sourjyendu Medda
BUSINESS
Inside Sharechat’s crisis: absent founders, flurry of management exits, spiralling losses
The company’s top and middle management are hollowing out, revenue has not kept pace with cash burn and Sharechat’s top-tier valuation, and questions are being asked about its business model
BUSINESS
After two co-founders quit, Sharechat tells staff in townhall that no plans to hire CTO, COO
Sharechat co-founders Farid Ahsan and Bhanu Pratap Singh have stepped down from their active roles as COO and CTO, respectively
BUSINESS
UIDAI is working with cybersecurity startups to build quantum computing products
UIDAI CEO Saurabh Garg says that Aadhaar has helped bring down the cost per authentication for banks to Rs 3 from Rs 20 earlier
BUSINESS
Google and Twitter-backed Sharechat sees shake-up as two founders step down
A week after laying off almost 600 employees, Sharechat CEO says in an internal note that co-founders Bhanu Pratap Singh and Farid Ahsan have stepped down from active roles. They will remain on the company's Board
BUSINESS
Companies will soon have Digilocker accounts to share documents with regulators
The India Stack platform is also building a 'Digilocker for families' feature that will enable multiple family members to use the tool via a single device
BUSINESS
India Stack will evolve to include artificial intelligence layer: Rajeev Chandrasekhar
Many countries around the world are interested to adopt India's digital public architecture, says Union minister
BUSINESS
Zomato brings back 'Gold' in fourth iteration of loyalty programme
The new programme will be Zomato’s fourth iteration of its loyalty programme in the last few years
BUSINESS
Zomato disables its 10-minute delivery service after it struggles to grow
Zomato had removed the option to place orders on its app via the 10-minute service (called Zomato Instant) around the beginning of this year as it struggled to find ways of growing the service
