Wipro’s headcount declines for the second quarter, down by 1,823 employees
With the headcount decline in Q4FY23, the company’s net addition for FY23 stands at 13,793, down from FY22’s net addition of 45,416.
NPCI International teams up with digital payments infra provider PPRO
The partnership between NIPL and PPRO will empower the global PSPs, Banks, payment gateways, with payment platforms to expand globally giving international e-commerce merchants access to Indian consumers.
Mindteck (India) Limited
Mindteck (India) Limited has informed the Exchange about Loss of Share Certificates
Sequoia and Tiger Global-backed Jupiter secures NBFC licence
Jupiter's founder Jitendra Gupta said the startup will be infusing an equity of Rs 100 crore for developing the NBFC business and is looking to raise another Rs 100 crore of loan from banks
Govt wants main platforms to come to ONDC, not new e-comm apps for joining
Commerce and Industry Minister Piyush Goyal said that ONDC should remove those who do not bring their main platform onto the network.
Taking a down round is not a big deal, startups have to move on: General Catalyst’s CEO Hemant Taneja
According to Hemant Taneja, the VC firm plans to invest 10-20% of the 11th General Fund, which has a total amount of approximately $4.6 billion, in India.
Rapido auto-rickshaws will have seatbelts for passengers
Rapido Auto has also conducted safety awareness programs in collaboration with city traffic police departments across India, the company said in a statement.
Size doesn't matter: Apple store in Delhi's Saket delights fans
Dimensions do not matter for Apple enthusiasts in Delhi who are simply excited to have an Apple Store in their city.
Tiger Global-backed Koo trims workforce by 30%
Founded in 2020 by Aprameya Radhakrishna and Mayank Bidawatka, Koo has so far raised over $70 million from investors like Accel, Blume Ventures, Kalaari Capital, 3one4 Capital and others.
Tiger Global-backed Open axes 47 jobs, founders take 50% pay cut
As a part of scale-up and profitability, Open said in the statement that it will continue the efforts to make a highly performance-oriented effective organization fit for scale, the statement said.
Digital Lenders Association of India appoints Jatinder Handoo as CEO
DLAI, which presently has around 90 digital lending firms as its members, has also Inducted Alok Prasad and Meena Hemchandra as Governance Council members.
Bengaluru airport records 96% growth in passenger traffic, reaching 31.91 million in 2022-2023
During this time, 28.12 million were domestic passengers, and 3.78 million were international passengers
Razorpay forms advisory board, ropes in former RBI deputy governor as chairperson
NS Vishwanathan, former deputy governor of the Reserve Bank of India is appointed as the chairperson of the board. The board will help contribute to the development of Razorpay’s payment infrastructure and help engage with key institutions and stakeholders
Kellogg India appoints Vinay Subramanyam as marketing head for India and South Asia business
This will be Subramanyam’s second stint at Kellogg. He served in sales development and category marketing roles between 2011 and 2015.
MC Exclusive | Govt lowers price cap at power exchanges to Rs 10 per unit
Besides, the Central Electricity Regulatory Commission (CERC) has also slashed the price ceiling for the high price day ahead market (HP-DAM) from Rs 50/kWh to Rs 20 per unit, the latest CERC order accessed by Moneycontrol showed. Both the revised price caps came into effect from April 4.
Razorpay-owned Ezetap sees 88% growth in offline payments in FY23: Report
Gurugram saw a growth of around 161 percent YoY, Pune around 154 percent YoY and Bengaluru around 145 percent YoY in in-store payment volumes clocked on the Razorpay’s offline payments platform, a report titled The Razorpay Payments Report 2023 released on April 11 showed.
Canara Bank Launches Premium Payroll Account
Canara Bank’s customers can avail this facility across all its branches in India.
ZestMoney to lay off 20% of workforce after PhonePe deal collapse
Founders and the top leadership team of ZestMoney held a Townhall on April 6 to inform the layoffs to employees. The company had about 450 employees and is planning to lay off across its workforce.
Bombay High Court dismisses PhonePe's trademark lawsuit filed against BharatPe's BNPL arm PostPe
In 2019, PhonePe filed a suit against BharatPe in the Delhi High Court alleging that by using the trademark ‘BharatPe’, the company had infringed upon the registered trademark of‘PhonePe’.
MC Exclusive | No inter-state transmission charges up to December 2055 for green hydrogen projects: Govt order
Production of 1 kg of green hydrogen requires 55-60 kWh of renewable energy. Therefore, a Rs 1/kWh increase in the delivered cost of RE would increase the production cost of green hydrogen by Rs 60 per kg (or $0.75/kg), the order accessed by Moneycontrol stated, explaining why the extension of waiver was necessitated.
Govt targets 1.2 MMT green hydrogen annual production in first three years of incentive programme
The maximum incentive for green hydrogen production will be Rs 50 per kg, which will come down to Rs 30 per kg in the third year. For electrolyser manufacturing, the incentive will be offered for the first five years with the government also suggesting a possible performance multiplier matrix to reward lower energy consumption and penalise higher energy consumption to push high efficiency electrolysers.
Composite PMI data bolster case for rate hike
The India Composite PMI for March was a strong 58.4, on top of a scorching 59 for February
Zoho continues to invest in rural India with plans for new tech hubs in Tirunelveli, Madurai and Uttar Pradesh
Zoho is also expanding its current facility, Kalaivani Kalvi Maiyam, which was established during the pandemic to educate young children from villages in and around Tenkasi
Mahila Samman savings certificate: Investment limit, how to open
Under this plan, women and girls can invest up to Rs 2 lakh for a tenure of two years with an interest rate of 7.5 percent per annum with the facility of partial withdrawal. While post offices are ready to launch it from April 1, banks may take some time to roll out the scheme.
