Mumbai: For Priya Rakesh Sanath, there was little time left after 12-hour workdays. Or money. For two-and-a-half years, the 26-year-old toiled at a beauty parlour in the Mumbai suburb of Goregaon, working six days a week to earn Rs5,000-6,000 a month. There were no Diwali holidays or time to cele…
News
Currency Switch Impact | SME sector to benefit as banks will lend more
The government has managed to cut down the transportation time of cash from printing to the main distribution centres from 21 days to six and is using all modes of transport, including helicopters and Indian Air Force planes, to move the cash quickly. The government is hopeful that the situation …
Currency Switch Impact| PM’s move will infuse a seismic shift in adoption of e-payments
On November 8th, Prime Minister Narendra Modi announced that, effective from 12 am on the 9th, all currency of Rs 500 and Rs 1,000 denominations would no longer be considered as legal tender. The will instead be circulating new Rs 500 and Rs 2000 notes. The PM made an impassioned appeal to citi…
Currency Switch Impact | Despite demonetisation boost for digital payments, investors wary of fintech firms
The government’s demonetisation scheme is expected to drive up digital transactions and could also boost fintech. Surprisingly, though, investors don’t seem to be warming up to the idea. Data from Tracxn Technologies shows funding in the fintech space has dropped by 60.84% in 2016 so far. Just $4…
Tata Sons to set an incubator soon
Tata Sons plans to set up an incubator in Pune or Bengaluru and is currently in the process of defining the process and laying out the blueprint for the same. Speaking on the sidelines of Pune Connect, an event organised by the Software Exporters Association of Pune, Gopichand Katragadda, Chief T…
Currency Switch Impact | Money crunch halted 90 % work in Firozabad glass industry
Disruption of cash flow has desired the glass industry of Firozabad. Up to 90 per cent of work has been affected, say industry insiders. There are about 200 factories in Firozabad of which 125 units manufacture bangles and rest are making glassware, bottles etc. Every unit needs Rs 1 to 1.50 lak…
32 tech start-ups to participate in Startup Bridge to boost M&A
To boost mergers and acquisitions in the Indian startup ecosystem, 32 established technology startups will participate in Startup Bridge, an event to forge long-term relationships with Fortune 500 companies, eyeing mergers, acquisitions and partnerships with these companies. A highly-curated list…
Currency Switch Impact | Kirana stores sales drop by 26%
The liquidity crunch following the recent demonetisation of higher value currency notes has hit retail at kirana stores and the sale of FMCG products sold there, and startups in the space are facing a heavy brunt. Bengaluru-based iD Fresh Foods, which sells ready-to-cook products which sells read…
‘We learnt about app metrics from start-ups we invested in’, say Flipkart Founders
One start-up as the most external funding, the other has been bootstrapping for 20 years. Both Flipkart Founders Sachin Bansal and Binny Bansal, and Zoho’s Sridhar Vembu have started giving back, investing time and money in other startups. Flipkart’s billionaire Founders Sachin Bansal…
Sebi to give a fillip to start-up ecosystem by reducing minimum limit on angel fund investments
Looking to provide an impetus to the early-stage startup ecosystem, markets regulator Sebi plans to reduce minimum angel fund investment for venture capital undertakings to Rs 25 lakh from the current Rs 50 lakh. Sebi may also allow the angel funds to make overseas investments up to 25 per cent o…