Worried over the impact of demonetisation of high-value notes on production chain, Commerce Minister Nirmala Sitharaman assured exporters that she would take up their demand of increasing the cash withdrawal limit with the Finance Minister. The issue was raised by export promotion councils during…
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Currency Switch Impact | Happay taps into India’s SME card demand surge
India B2B payments firm Happay is now looking to accelerate the time it takes to on board SMEs to its platform. The company revealed on November 18 that it rolled out its Express On-boarding Program for small businesses in the nation aimed to help SMEs more quickly use Happay services. The accel…
Brigade Enterprises partners Microsoft & Intel to mentor & benefit start-ups
Brigade Enterprises, one of the leading real estate developer in India, recently launched the country’s first real estate focused accelerator program. The accelerator will mentor startups whose products or services can be used in the real estate industry across various domains be it Residential, …
Currency Switch Impact | Entrepreneurs grin & bear the cash crunch
Almost one-third of start-up and SME entrepreneurs have seen a reduction in transactions, reduced fund-raising for expansion and a drop in account receivables after the demonetisation drive; but an overwhelming majority said the move will have a long-term positive impact. These findings are accor…
Bosch India launches first accelerator programme to mentor start-ups
Technology and engineering solutions company Bosch India launched its first accelerator programme for start-ups called DNA – ‘discover, nurture and align’ — to gain a foothold in the country’s booming start-up market. This is first time Bosch would be working with ex…
Dubai-based Cocoon Ventures to invest $20 mn in Indian start-ups
Dubai-based venture fund Cocoon Ventures is planning to invest around $20 million in Indian startups in the areas of IoT (internet-of-things), robotics, and agriculture. The year-old fund, which is a consortium of 25 high profile Gulf Arabs, is also collaborating with US and Turkey-based accelera…
Currency Switch Impact | TechProcess & NumberMall to bring cashless payments to kirana shops
TechProcess Payment Services, an electronic payments company, said on November 21 that it has partnered with NumberMall, an app-based payments platform for small merchants, which will enable 30,000 kirana shops to accept cashless payments. NumberMall connects the kirana shops to manufacturers and…
Currency Switch Impact | RBI gives small borrowers 60 extra days to repay credit
The Reserve Bank of India (RBI) on November 21 said small borrowers, who have been facing the brunt of demonetisation, would get an additional 60 days to repay their credit, including agriculture and housing loans. Borrowers with loans up to Rs 1 crore from banks and finance companies would be el…
Currency Switch Impact | New entrepreneurs dominate small hydrocarbon fields auction
India received bids for about 34 of the 46 small oil and gas blocks offered in an auction that ended on November 21, mostly from local private companies, many of them new entities venturing into the hydrocarbon industry under a liberal contractual regime that the government offered to woo investm…
Analystic start-up Vymo raises $5 mn from Sequoia India
Vymo, a Bengaluru-based predictive sales analytics start-up, said it has raised $5 million in a series A round of fundraising from the venture capital firm Sequoia India. The start-up will use this funding to deepen its research and development (R&D) initiatives and expand its presence in int…