A good monsoon with even rainfall distribution across regions will give a boost to farm sector and may push India’s GDP growth beyond the 8 percent mark in the current fiscal, Crisil said. However, stress in rainfall in certain parts of the country and excess downpour in some other regions …
Companies, Finance & Markets
PayU India plans to double value of processed transactions to $1 billion per month
Financial technology arm of Naspers, PayU India, said its payment gateway business plans to double the total value of transactions processed, to $1 billion per month in the next one year, backed by boost in volumes from offline and online partnerships. “Striking partnerships is critical to …
Zoho to hire 4,000 people in 3-4 years, bets on SMEs
Cloud services firm Zoho plans to double its headcount to 8,000 people over the next 3-4 years as it introduces new solutions and expands focus on Small and Medium Businesses (SMBs). The company, which currently has some 4,000 people on its payroll, has development centres in Chennai and Tenkasi …
Government’s effort increases merchandise exports
The merchandise exports from the country have registered an increase of 1.27 percent in Dollar terms (6.72 percent in Rupee terms) in June 2016 compared to the same month of the previous year. The details of key efforts made by Government for increasing exports are as follows: i) The New Foreign …
DBS Bank eyes Indian SME sector
Singapore-based DBS Bank hopes to increase its SME customer base by 30-40% in the current year with its new prodcut offerings. “In FY16, we have had a good growth in the SME segment including addition of a number of new clients availing our SME solutions. We grew our lending books by about …
Australia to share expertise in various fields with Haryana
Australia has agreed to share its expertise with Haryana in the field of agriculture, horticulture, dairy sector, infrastructure, smart cities and sports particularly in prevention and treatment of sports injuries. Australian High Commissioner to India, Harinder Sidhu, who called on Chief Ministe…
Myntra pips Snapdeal and Future Group, acquires Jabong for $70 million
Flipkart-owned Myntra on July 26 pipped Snapdeal and the Future Group to acquire rival Jabong in a $70-million all-cash deal that creates India’s largest online fashion destination, reduces discounts and strengthens the Bengaluru-based company’s prospects of keeping Amazon at bay in t…
Amplus Capital achieves first closure of second realty fund
Amplus Realty Fund – II, the second real estate focused fund of the Lalbhai Group-led Amplus Capital, has achieved first closure with total commitment of Rs 200 crore of the total targeted corpus of Rs 300 crore. The entire fund raising is expected to be wrapped up soon, the fund said in a …
Bank of Baroda partners with CreditMantri for lending to first-time borrowers, SMEs
Public sector lender Bank of Baroda on July 25 announced that they will be using alternate data sources for lending decisions in partnership with Creditmantri, a Chennai based fintech startup. Historically banks have been relying on physical verification of documents and credit bureau data for ta…
Quikr acquires Hiree, to focus on innovating in jobs space
Online classifieds company Quikr said it has acquired online hiring platform focused on white collar jobs Hiree for an undisclosed amount. Hiree will be merged with QuikrJobs and will operate out of Quikr headquarters, the company said in a statement. “We launched QuikrJobs with an aim to …