Home-grown taxi-aggregator Ola may raise up to USD 250-300 million (Rs 1,700-2,000 crore) from Japan’s Softbank. The company plans to raise around USD 500 million in a fresh funding round led by the bank. According to the report, SoftBank is leading the new round and the first tranche will close …
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Big Basket seeks govt’s approval for Rs 100 cr FDI
Online grocery store Big Basket has sought government’s approval to infuse Rs 100 crore foreign direct investment to further expand its business. The company, which sells fruits, vegetables and other food products online, plans to use the funds to strengthen backend infrastructure, increasi…
Bihar receives proposals for 30 start-ups
Patna: The state industries department has received over 30 startup proposals on October 24 evening after launching a website — www.biharstartupyatra.com — for inviting people interested in setting up ventures with government support. The proposals received so far include ideas for setting up pea…
Amend MSMED Act to ensure faster payments to MSEs
Delays in receipt of dues from corporates remain a major challenge for Micro and Small Enterprises (MSEs) in India, along with high cost of working capital finance and collateral requirements of lenders. The Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 stipulates that receiva…
60% of employed Indians aspire to be entrepreneurs: Survey
GoDaddy, the world’s largest technology provider dedicated to small businesses, released its ‘Future of Work’ survey, a global study that delves into entrepreneurial intent, attitudes and outlook when considering starting or running a small business. 60% of the approximately 1,200 respondents in …
Ease of doing business: India banks on ‘remarkable work’ to improve World Bank ranking
As the World Bank looks set to release its annual ranking of countries in the ease of doing business later this week, India expects to improve its position from last year’s 130 out of 189 economies. The optimism stems from the fact that, for a second straight year, the country expects its ranking…
Rs. 35 lakh subsidy for Dalit entrepreneurs under ‘Stand-Up India’
Dalit entrepreneurs in the State, who are being given loan of up to Rs. 1 crore each under Prime Minister Narendra Modi’s pet scheme, Stand Up India, will be provided a subsidy of up to Rs. 35 lakh by the Scheduled Castes Cooperative Finance Corporation, according to its Vice-Chairman and Managin…
Khadi outlet at Delhi registers record Rs 1.08 cr sale in a day
The outlet of Khadi and Village Industries Commission (KVIC) at Connaught Place, Delhi has registered a record Rs 1.08 crore sale in a day, its highest so far. The feat was recorded on October 22. KVIC Chairman V K Saxena said the previous sales record was of Rs 82.5 lakh, which was recorded at t…
‘One India’-one window: Easing business stories
The Centre, in collaboration with State governments, plans to introduce a ‘One India’ concept, the biggest and the most comprehensive ‘ease of doing business’ initiative so far. Under the ‘one-form-one-portal’ model, aimed at attracting huge investments, the processes will be simplified to an ext…
SME scale IBEE Hosting gets $1 mn
IBEE Hosting will receive funding of 1 million dollars from investors XBT Holding to be spent across 3 years. The company will be spending these funds primarily for the development of their products and services and then for marketing activities. IBEE Hosting is a provider of enterprise dedicated…