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…
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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…
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…
Currency Ban Impact | Modi’s move could adversely impact SMEs, say economists
Nearly 40% of India’s economy is driven by small- and medium-sized enterprises that largely run on cash transactions. Economists said the move could impact these businesses, and in turn have a knock-on effect on economic growth. There was concern among members of the public about changing l…
India needs to look for new export markets: Sitharaman
Commerce and Industry Minister Nirmala Sitharaman on November 8 said that to boost exports, India needs to look for newer markets like Africa or Latin America for which ECGC, the government company which ensures sustained flow of exports, will have to support the exporters. “We have to look…
Support SMEs to boost India’s exports: President Pranab Mukherjee
President Pranab Mukherjee on November 8 said the Centre needs to ensure that India’s exporters, particularly those in the Small and Medium Enterprises (SME) segment, are adequately supported through appropriate policy interventions to help them tide over the present downturn. India’s exports had…
Currency Ban Impact | PM’s move likely to boost e-commerce
All top e-commerce companies including Snapdeal and Jabong worked overnight conceptualising upon multiple offers to ensure that customers chose pre-paid options over cash on delivery for new orders placed, as they were forced to stop accepting Rs 500 – Rs 1000 notes, starting November 9. In…