The Reserve Bank of India on October 4, cut policy rate (repo rate) by 25 basis points to 6.25% from 6.5% citing easing inflation. In its first meeting, the Monetary Policy Committee (MPC) on October 4 all members of policy decided for 25 basis point rate cut. This was the fourth bi-monthly monet…
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Online sales extravaganza helps sellers rake in crores
Festive sale across platforms like Amazon, Flipkart and Snapdeal are helping sellers rake in big mullahs with hundreds of them clocking over Rs 1 crore a day from the sales extravaganza. Snapdeal said 37 sellers crossed the turnover of Rs 1 crore each on day 1 itself, while Amazon said nearly 100…
Govt simplifies form for incorporation of companies
Continuing efforts to improve ease of doing business, the government has simplified the form required for incorporation of companies and submission of related documents. The new electronic proforma aims at speeding up the incorporation related services. The Corporate Affairs Ministry, which is im…
Manufacturing growth slows in September
The country’s manufacturing growth has lost momentum with the Nikkei India Manufacturing Purchasing Managers’ Index (PMI), a measure of manufacturing performance, falling to 52.1 in September from 52.6 in August. This development comes just ahead of the RBI’s monetary policy rev…
InnerChef raises $2.5 mn from Japanese fund Mistletoe, others
Gurugram-based food delivery platform InnerChef has raised $2.5 million in fresh funding led by Japanese early-stage fund Mistletoe, its maiden investment in India. Singapore-based M&S Partners also participated in the round along with InnerChef’s existing investors. Launched in 2015 by…
Indian ICT SMEs seek collaboration in Singapore & Vietnam
Indian Small and Medium Enterprises (SMEs) in the ICT space are seeking collaborations with companies in the same fields in Singapore and Vietnam to set up manufacturing bases there and jointly develop products for the global markets. “We are exploring collaborations with SMEs in informatio…
Ratan Tata invests in wearables maker GOQii
New Delhi: Adding one more to his start-up funding list, leading industrialist and serial investor Ratan Tata has invested in virtual fitness coaching platform GOQii. The size of the funding was, however, not disclosed. The company, which is a leading player in the Indian wearables market, is bac…
KVIC registration of institutions goes online
Marking the Gandhi Jayanti , KVIC launched a portal for registration and certification of new khadi institutions, saying the entire process will now be completed within 40 days instead of up to 3 years earlier. Also, the old 16-page application form has been reduced to just one. The online portal…
Govt to consider 21 start-up tax-relief proposals
In pursuance of its policy to encourage start-ups in areas beyond IT, the government on October 3 to take up proposals for tax relief for 21 companies from diverse sectors such as healthcare, bio-tech, metal castings and animal husbandry. Two proposals for incubators will also be considered by th…
India Inc putting CSR money in start-up incubators
Companies like SAP, Tata Motors and Bajaj Electricals are investing in startups through government-affiliated incubators as a part of their mandatory corporate social responsibility (CSR) spending. Nearly a dozen companies have shown interest in spending CSR money in incubators at the IITs and II…