A day after Reserve Bank of India (RBI) Governor Urjit Patel signalled a shift in the central bank’s stance towards tackling bad loans, Finance Secretary Ashok Lavasa on October 5, backed the new approach, saying state-run banks need to find practical ways out of the stagnation in loan growth. Pa…
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SoftBank in talks to put money into FreeCharge
Japan’s SoftBank Corp, the largest shareholder in Snapdeal, is in talks to invest in FreeCharge, the digital payments unit of the online marketplace, according to two people aware of the development. The round is expected to see FreeCharge, which competes with Alibaba backed Paytm, take in $150-$…
Real estate start-up Azuro gets funding from Kae Capital, White Unicorn Ventures
Early-stage investment firm White Unicorn Ventures, Kae Capital and Mumbai Angels have invested an undisclosed amount in real estate management start-up Azuro. Azuro will use the funds to expand its operations across Mumbai, and invest further in building the technology. Mumbai-based Azuro, was f…
Start-ups see 6% dip in Q3 deal activity
Dry season for startups continues to become drier, as funding activity has further reduced with total number of deals struck in Q3 amounting to 291, a 6% reduction compared to the previous quarter, says data from Xeler8, a data cruncher that works using machine learning and analytics. “Surp…
Start-up Get My Parking launches on street smart parking
Launches On-street Smart Parking without the need of sensors an Indian startup solving parking problems From Delhi to Kumbh Mela to IPL Get My Parking (GMP) is a Chennai Angels funded venture started by IIT Madras and FMS Delhi alumni which has digitized the parking industry. Despite the industry…
FDI in textiles ‘far from satisfactory’: Study
FDI flows into the textile sector have been “far from satisfactory” due to factors like lack of trade agreements with key markets, underdeveloped infrastructure and complex labour laws, a study has claimed. “Despite India offering a large domestic market, competitive labour cost…
Assam needs 35 lakh jobs, Rs 2 lakh cr investment: Assocham
Assam needs 35 lakh new jobs and Rs 2,00,000 crore investment to attain double digit growth in next five years, industry body Assocham said in a report. “The newly elected state government in Assam should aim to create 35 lakh new jobs during the course of next five years by revising its industri…
Indian IoT market set to grow up to $15 bn by 2020
Focusing on the rise and evolution of the Internet of Things (IoT) across industries in India, the National Association of Software and Services Companies (NASSCOM) kick-started the eighth edition of NASSCOM Design and Engineering Summit, Bengaluru. The two-day event focusing on the theme of, ‘Im…
Ventureast sets up new $ 150 mn fund for start-ups
Venture capital firm Ventureast has set up a new fund, under which it aims to raise about USD 150 million, for funding seed and early stage tech-led businesses. ‘Ventureast Proactive Fund II (VPF2)’ is expected to make the final closing in the next six months and has seen strong inter…
SMEs’ IPO fund raising doubles to Rs 384 cr in April-Sept FY’17
Fund raising by Small and Medium Enterprises (SMEs) from initial public offerings more than doubled to Rs 384 crore in the April-September period of 2016-17 from the year-ago period. In comparison, 27 SMEs raised Rs 182 crore in the first half of the preceding financial year, 2015-16. “Indi…