Snapdeal-owned Freecharge said it is now signing up a new merchant every 30 seconds, possibly a result of the cash-related problems faced by consumers and businesses alike. The company had recently removed sign up charges for merchants and waived fund transfer charges as well. It also offered quick sign-ups as well. “This unbeatable offer led […]
Keeping the volatile market conditions in mind, said Vodafone, there would be no initial public offering of its Indian units’ shares this year. Vodafone said it intends to proceed with an IPO of Vodafone India as soon as market conditions allow. “We do not expect this to take place during the current financial year,” it […]
Vodafone Group has taken an impairment charge of 5.0 billion euros — equivalent to Rs 36,540 cr, due to the increased competition in the Indian market after the launch of Reliance Jio. “A new entrant has recently launched free trial services for an extended time period and commercial price plans that were at a significant […]
Reliance Group on Tuesday launched its Internet-of-Things offering Unlimit. IoT is jargon for a connected world in which appliances and equipment are connected to the Internet and managed remotely. Reliance Communications had announced an IoT partnership Jasper Technologies, later taken over by Cisco Systems Inc, last year. Separately, the company said it will soon add […]
Anil Ambani Group’s Reliance Communications is all set to make a ‘major announcement’ in Mumbai tomorrow, the company said in an invite for journalists. Though the exact nature of the announcement was not revealed, it is being suggested that the company is likely to unveil something related to its ongoing merger with Aircel Cellular, even though the invite sounds […]
Karnataka-based public sector bank Canara Bank said 75% of its ATMs have been supplied with cash and are up and working. The statement comes in the wake of widespread difficulty for people to access money via ATMs under the ongoing currency swap. India derecognized 500 and 1000 rupee notes in an effort to get everyone […]
The average deposit size for people putting their money into banks under the cash demonetization drive is Rs 45,811, according to the data released by State Bank of India. A total of 76,000 cr has been deposited via SBI branches, and close to another 3 lakh cr has been deposited via other banks. QUESTIONS The […]
Kerala’s merchants and traders union has asked its members to shut all shops from Tuesday to protest the Center’s decision to swap currency notes to control black money. The central government has withdrawn existing 500 and 1000 rupee notes and asked everyone holding the same to get them exchanged with new notes from their nearest […]
The ongoing crack down on black money alone will not be helpful to remove black money from the real estate sector, industry union ASSOCHAM said. Many buyers of real estate prefer to show lower costs on record simply to avoid the high levels of stamp duties payable on such transactions. In most states, Indians have […]
The country’s biggest bank State Bank of India saw nearly Rs 40,000 cr deposited by the public in its branches in the first two days of the ongoing currency swap. A total of Rs 1,666 cr worth of notes were exchanged. Under the ongoing currency swap, bank customers can get up to Rs 4,000 worth […]
Viviana Mall, one of the leading retail malls in Mumbai Metropolitan Region, said the bookstore Crosswors has opened its 1800 sq ft store in the mall. Crossword currently has 94 stores (50 own stores and 44 Franchised stores) spread in different cities across India. It is a wholly owned subsidiary of Shopper’s Stop Ltd. Apart from […]
Pharma major Lupin Limited said it launched Iron Isomaltoside injectable iron formulation under two brand names “Isofer” and “Jilazo” in India. Lupin acquired the exclusive rights to market, distribute and sell the injectable formulation from Denmark based Pharmacosmos A/S. The product is currently marketed in 33 countries, including 21 European Union countries under the brand […]
Dr Reddy’s Laboratories Ltd said it launched raloxifene hydrochloride tablets –used to treat osteoporosis — in the US market. Raloxifene hydrochloride tablets are a therapeutic equivalent generic version of Evista (raloxifene hydrochloride) tablets. A generic drug is a pharmaceutical drug that is equivalent to a brand-name product in dosage, strength, route of administration, quality, performance, and […]
Technology provider Infosys said it made investment in TidalScale, a provider of software-defined server. No details about the financial aspects of the investment were made public. TidalScale’s offering, in many ways, is the opposite of virtualization. While virtualization allows you to split a single hardware-based server into several virtual servers, the software-defined server helps combined […]
Online Payment platform Razorpay said it launched a new feature –Express Activation– in India that promises one-hour activation of new merchant accounts. Razorpay is a payments platform that allows merchants to receive payments via their websites or mobile apps. It helps businesses accept online payments via credit card, debit card, netbanking and popular wallets including Mobikwik, […]
Air conditioning giant Blue Star Ltd said its Vice Chairman Suneel M Advani will be elevated as the Chairman of the company from 1st December. The current Chairman Ashok M Advani who will turn 75 on November 17 will retire after 47 years of service and will be re-designated as Chairman Emeritus. Suneel M Advani […]
As the e-commercial sector is facing issues with the money demonetization, the E- payment platform MobiKwik and Freecharge have forward with methods that can be helpful for the e- tailers. Mobikwik said it will offer ‘MobiKwik on delivery’ option for e-tailers to replace ‘Cash on Delivery’ and overcome the challenges being faced by the phasing […]
With money tied up in banks, the Income Tax department has conducted multiple raids across the country to find undeclared income. The raids were conducted in Delhi, Mumbai, Chandigarh and other cities. The raids are being conducted to unearth undeclared cash, according to sources. It is believed that the Income Tax dept was able to […]
Oxigen, one of India’s oldest wallet payment system, said the load value on Oxigen Wallet prepaid visa cards have increased by 4 times in the last two days. It said people seem to be switching to prepaid cards to make payments in the wake of demonetization of high-denomination currency notes. “The daily average number of […]
Amazon, one of India’s top two online retailers, sent out a teaser today with a promise that Amazon Prime Video is coming soon to India. Prime video is a service like Netflix that streams TV shows, films and other content. The service was launched in the United States ten years ago. At present, Amazon Video […]
