E-commerce company Shopclues expects to register more than two fold jump in Gross Merchandise Volume (GMV) from its platform at $3 billion (about Rs 20,000 crore) by the end of current financial year. “We are planning to close financial year 2016-17 at annualised GMV rate of $ 3 billion,…
Uber unveils upfront fare
Taxi-hailing app Uber is giving a new name to surge pricing — upfront fare. Uber hopes that by showing fares to customers before booking a ride, a practice it follows for shared rides on its platform, it can be more successful. Uber says it is able to predict the fare for a trip by having [&helli…
Mastercard to tap MSME, small traders on digital payments
Global time payment processing firm MasterCard today said micro, small and medium enterprises need to go for online payments which currently account for just four per cent of total transactions in the country. “Of the total transactions made in the country, 96 per cent are done through cash trans…
Credit plan envisages support for agriculture, MSMEs
A Rs.6,212.38 crore Annual Credit Plan (ACP) has been released for the district for 2016-17 envisaging priority lending support across sectors, including agriculture and MSMEs. G Vijaya, District Revenue Officer (DRO), Cuddalore launched the ACP for the fiscal prepared by the lead bank, the India…
SIDBI disburses Rs 3,337 crore in 2015-16
State-owned SIDBI has disbursed Rs 3,337.20 crore out of Rs 3,783.20 crore sanctioned during 2015-16 through its wholly-owned subsidiary MUDRA to fund the small and self owned enterprises. MUDRA (Micro Units Development and Refinancing Agency) encourages development of micro units. In order to fu…
Social unrest, strikes & closures are the biggest risks to economy : FICCI’s India risk survey 2016
New Delhi, 24 June 2016: FICCI has released today its annual study the India Risk Survey 2016 (IRS 2016). This is an attempt to showcase the views and perceptions of business leaders, policymakers, experts, as well as professionals across various sectors and geographies, regarding strategic, oper…
Indian toy industry to get a boost at Kids India
With Indian Government’s initiative to support the International buyers at ‘Kids India’, India’s largest international B2B exhibition for toys and products related to children, Indian Toy industry is all set to get a boost at the Expo. “Also, looking at an overwhelming interest from the manufact…
Kalaari Capital invests Rs 3.4 crore in cloud security startup ParaBlu
Kalaari Capital, an early investor in online retail companies like Snapdeal and Myntra, has backed cloud security startup ParaBlu as a part of its newly-launched seed and incubation programme — KStart. The VC firm has invested Rs 3.4 crore in the startup, founded by former top executives at McAfe…
JSW ventures gets SEBI nod to fund start-ups
JSW Ventures, the venture capital arm of the JSW Group, has created a corpus of Rs. 100 crore to invest in tech start-ups over the next three years after getting a nod from the markets regulator SEBI. The fund, which was announced last year, has been raised from the company’s internal accruals an…
Nandan Nilekani invests in affordable eye care startup Drishti
Bengaluru-based affordable eye care treatment chain Drishti has raised an undisclosed amount in funding from Nandan Nilekani, former chairman of the Unique Identification Authority of India. Drishti, which offers its services in semi urban and rural regions, will utilise the fresh capital to expa…