BUSINESS
KreditBee offers RuPay credit card, aims to become a neo bank in two years
The company’s Co-founder and CEO Madhusudan Ekambaram said that in the next three to five years the company hopes to grow its customer base to 10 percent of India’s population. KreditBee will soon foray into the Buy Now Pay Later (BNPL) segment, he added.
BUSINESS
Super apps: WhatsApp best placed, Tata yet to have a core use case: Report
A super app comes with multiple apps and brands under a company, offered within one umbrella app which has at least two strong use-cases.
BUSINESS
NPCI appoints former PayU top executive Noopur Chaturvedi as Bharat BillPay CEO
NPCI says Noopur Chaturvedi's mandate is to work on the RBI's vision to scale up the Bharat Bill Pay System platform. In June, the RBI permitted mobile prepaid recharges as a biller category in BBPS to be implemented on or before August 31.
BUSINESS
Ather Energy CEO sees massive EV demand, says Ola electric scooter helped grow awareness
The only impediment to the growth of electric vehicles can be charging infrastructure bottlenecks that may crop up in the next few years, says Tarun Mehta. In the last few months, the industry has seen 30-40 percent growth every month. In the next 2-3 years, volumes may grow 20-30 times over the cumulative volumes of the last 15 years, he says.
BUSINESS
CRED Founder Kunal Shah joins Pine Labs board ahead of planned IPO
Pine Labs CEO Amrish Rau was an early investor in Kunal Shah's CRED. Both Shah and Rau have been angel investors in multiple fintech startups over the past few years.
BUSINESS
As Jeff Bezos and Narayana Murthy end Cloudtail partnership amid CCI probe, here’s a timeline on one of Amazon’s largest sellers in India
Amazon said on August 9 that its partnership with NR Narayana Murthy’s Catamaran would not be renewed after May 19, 2022. Prione Business Services, the JV that owns Cloudtail India, was set up in 2014. Cloudtail India’s presence on Amazon has led to allegations of malpractices by smaller online sellers, leading to a Competition Commission of India (CCI) probe
BUSINESS
Raise Financial buys Moneylicious, to foray into online stockbroking
With the acquisition of broking firm Moneylicious Securities, Raise has the licences required to start an investment platform. The company is looking to launch an investment app for traders and long-term investors by the end of 2021.
BUSINESS
India to have over 150 unicorns by 2025, startups to employ 3.25 million people: Report
The Indian startup ecosystem, the third-largest in the world, is set to see a 3x growth in valuation from $315 billion currently to $ 1 trillion by 2025, according to a report by 3one4 Capital.
BUSINESS
UPI transactions in July: PhonePe dominates again, Google Pay crosses 1 billion transactions
In July, UPI transactions set new records with over all UPI transactions at 3,247.82 million.
BUSINESS
Future Retail to pursue all options to conclude deal with Reliance, to protect interests of stakeholders and workforce
The company plans to file a special leave petition in the Supreme Court and seek relief from the Delhi High Court to proceed with the transaction
BUSINESS
How the Amazon, Future Retail saga unfolded in multiple courts
Amazon which holds a 49% stake in Future Group promoter Future Coupons objected to the Rs 24,713 crore deal between Future Retail and Reliance by moving the Singapore International Arbitration Centre in October 2020. The tussle continued across the Delhi HC and SC.
BUSINESS
Supreme Court rules in favour of Amazon in dispute with Future Retail, says arbitrator’s award enforceable in India
A Singapore arbitrator barred the deal from proceeding in October 2020 and constituted a panel to pass the final verdict, which is awaited.
BUSINESS
Brazil's Nubank leads $44 million funding round in Jupiter at valuation of $300 million
Jupiter, a neobank – which is a fully digital bank, has partnered with Federal Bank besides Visa and the National Payments Corporation of India (NPCI) to offer services like savings bank accounts and debit cards.
BUSINESS
Explained: What is the ED show cause notice to Flipkart all about?
Trade bodies such as the Confederation of All India Traders have repeatedly accused both Flipkart and e-commerce giant Amazon of violating norms. Moneycontrol explains the show cause issued to Flipkart and looks at the way forward for the company.
BUSINESS
CAIT calls for action against Amazon after ED notice to Flipkart
Amazon and Flipkart are conducting a preferential seller system on their respective marketplace which is against the Foreign Direct Investment norms for e-commerce, the traders' body has said.
BUSINESS
Explained | What is e-RUPI and does it lay the ground for RBI's digital currency?
Financial circles are speculating whether the launch of e-RUPI is a milestone on the road to a digital currency but experts say the two instruments are meant for different purposes although they share the common feature of eliminating middlemen
BUSINESS
PhonePe to provide UPI-based AutoPay feature for SIP investments
The AutoPay functionality was introduced by the NPCI in 2018 to enable customers to set up e-mandates using any UPI app for recurring payments
BUSINESS
Policybazaar files DRHP: Losses, commissions, litigation among key risks
Policybazaar IPO: Planned increases in expenses, the possibility of data breaches and the emergence of competitors are among the risks stated in the draft IPO prospectus. -
