At 11pm on November 8 night, Akshay Mehrotra, Co-Founder, EarlySalary, was biting his nails, looking at almost 90% of his 2000 users borrowing money from his platform in a click. Within 9 hours into November 9, EarlySalary had exhausted their loan limits. At Cashe, repeat and new users have borro…
Older cab firms in Chennai to accept invalid notes as Uber, Ola turn to digital payments
Cab aggregators sent assurances through their mobile applications, accepted Rs 500 bills, and made a deeper pledge toward digital payments to keep up their services a night after the Union Government withdrew Rs 500 and Rs 1,000 bills. The way aggregators responded spotlighted on which side of th…
Cash on delivery: 2 million shipments stuck with e-tailers
E-commerce players who stopped accepting orders made through cash on delivery (CoD) on Wednesday collectively have 1.6-2 million shipments stuck in the pipeline which were ordered through this payment route, as per industry sources. The government’s move to ban Rs 500 and 1,000 currency not…
Big Entertainment enters video on-demand space with Chillx
Anil Ambani-owned Reliance Big Entertainment, which houses the media and entertainment business of the group, is entering into the video-on-demand space with its new over-the-top (OTT) mobile application Chillx. Reliance Entertainment has acquired a two-third stake in FunOnGo Media & Entertai…
Fintech start-ups anticipate rise in borrower data since many SMEs will be forced to transact online
Bengaluru: Financial-technology startups are anticipating a rush of users as the government restricts the flow of money to check corruption, including from among the likes of drivers and store-keepers, for many of whom banks remain alien territory. One likely impact of the government’s decision N…
Currency Ban Impact | Paytm & others jump over the idea, markets affected
New Delhi: While citizens across the country went into a panic mode with the government demonetising Rs 500 and Rs 1000 notes, various quick-thinking brands tried to encash the opportunity and rolled out offers luring people to use plastic money even as popular markets such as Khan Market and Con…
Currency Ban Impact | Start-ups encouraging online transactions, gaining new customers
Even if temporary, markets wore a deserted look today across India as high value cash in hand became just a paper overnight for Indian citizens. Modi’s surgical strike on black money has had an impact on traders and parallel economy who used to deal only in cash, especially in India’s…
‘India needs investors with operational insights & playbooks that actually work’
Chamath Palihapitiya knows how to grow an organisation fast. As the head of user growth at Facebook, he helped build an audience for the social networking site. But, as a venture capitalist, Sri Lanka-born Palihapitiya is going slow – one at a time. He knows scale is important for an organisation…
Square Yards consulting raises $12 million from Reliance Group’s PE arm
Square Yards Consulting Pvt. Ltd, a real estate listings and advisory firm, has raised $12 million from the private equity arm of Anil Ambani-led Reliance Group. Square Yards will use the funds to strengthen its team and expand its presence to more than 25 countries, the company said in a stateme…
Forthcoming budget will simplify tax administration & policies: MoS Finance
Minister of State for Finance, Arjun Ram Meghwal on November 9 promised that the forthcoming budget would have stipulation and provisions that would lead to further simplification of tax administration and tax dispensation of both direct and indirect taxes to enable business community to render t…