Business

06 Dec

Paytm to bring 10 mn sellers to ONDC by 2025 end: Vijay Shekhar Sharma

Priyanka BhowmickBusiness, IndiaBusiness, india

Vijay Shekhar Sharma, CEO and founder of Paytm parent One97 Communications, said on Monday that the company is considering bringing 10 million merchants by 2025 to the government-backed Open Network for Digital Commerce, adding that the firm has routed around 11.8 million customers from its products from the platform, news agency PTI reported. "Paytm's ecosystem is built around small merchants and our mission is to help small merchants and small businesses be part of the mainstream economy. We have done that through payments. We have paid new customers who want to get new customers. That's where ONDC comes in. We…

05 Dec

Byju’s founder pledges homes worth Rs 100 cr to pay salaries of staff

Priyanka BhowmickBusiness, IndiaBusiness, india

Byju Raveendran, the founder of Indian ed-tech company Byju's, pledged his home and those owned by his family members to raise money to pay his employees, Bloomberg News reported on Monday. The assets include two homes owned by the billionaire founder's family and an under-construction villa in the southern Indian city of Bangalore as collateral for a $12 million loan, the report said, citing people familiar with the matter. The surplus of funds will help pay the 15,000 employees of the troubled company's parent Think and Learn Pvt Ltd, the report added. The company is facing several setbacks, including investors…

04 Dec

Bajaj Chetak Urbane electric scooter launched at 1.15 lakh

Priyanka BhowmickBusiness, IndiaBusiness, india

Bajaj has relaunched the Chetak Urbane electric scooter in India. It now features a few changes compared to the previous version and here is what the updated Bajaj EV now offers. On the design front, the Chetak Urbane looks like the premium trim. It boasts round LED headlights, curvy body panels, a single-piece seat, and a flat floorboard. Chetak e-scooter's retro appeal is intact. However, it also gets a dash of modern features with the new TechPac. It offers urban model features such as heel hold, reverse mode, complete smartphone connectivity package that includes tamper alerts, OTA updates, and more.…

02 Dec

Centre tightens grip against ‘dark patterns’

Priyanka BhowmickBusiness, BUSINESS, IndiaBusiness, india

The government has banned the use of "dark patterns" — intentionally designed deception — by e-commerce and all other online platforms when selling products and services that manipulate customers and force them to sign up or buy products they don't mean or tempt them to buy more expensive products. The government has informed the adoption of this as an "unfair trade practice". Under the Consumer Protection Act, offenders can face fines and disciplinary action from the Central Consumer Protection Authority (CCPA) and can also be prosecuted before the Consumer Commission. In a Gazette Notice issued by the CCPA titled "Guidelines…

30 Nov

D-Mart’s Hurun India crowns Radhakishan Damani as India’s top self-made entrepreneur

Priyanka BhowmickBusiness, IndiaBusiness, india

Radhakishan Damani, veteran investor and founder of retail chain D-Mart, has topped the list of top 200 self-made entrepreneurs of the Millennia 2023, with a market capitalization of Rs 2.38 lakh crore. He is closely followed by Binny Bansal and Sachin Bansal, founders of e-commerce behemoth Flipkart, with an equity value of Rs 1.19 lakh crore, according to an report of IDFC First Private Hurun India published on November 30. The list also includes Zomato's Deepinder Goyal and Dream 11 promoters Bhavit Sheth and Harish Jain, with a market cap of Rs 86,835 crore and equity value of Rs 66,452…

30 Nov

Gautam Adani back among top 20 billionaires

Priyanka BhowmickBusiness, IndiaBusiness, india

Billionaire Gautam Adani is back in the league of the world's 20 richest people after a recent surge in the group company's shares. Adani is now ranked 19th on the Bloomberg Billionaires Index with a net worth of $66.7 billion as of 29 November. Adani Group stocks added over Rs 1.34 lakh crore to investors' wealth on Tuesday. While the group's market capitalization lost some gains on Wednesday, the rise lifted Adani into the top 20. Shares of Adani group companies rose after the Supreme Court upheld its confidence in SEBI's probe into the Hindenburg allegations. The top court, while…

29 Nov

Berkshire Hathaway’s vice chairman Charlie Munger dies at 99

Priyanka BhowmickBusinessBusiness

The death of Mr. Munger, Berkshire's vice chairman since 1978, marked the end of an era in corporate America and investment. "Berkshire Hathaway could not have been built to what it is today without Charlie's inspiration, wisdom and participation," Warren Buffett said in a statement. Tributes started pouring in from all corners Apple CEO Tim Cook paid tribute to Mr Munger He wrote, "A titan of business and keen observer of the world around him, Charlie Munger helped build an American institution, and through his wisdom and insights, inspired a generation of leaders. He will be sorely missed. Rest in…

28 Nov

iPhone maker Foxconn plans to invest $1.6 billion in India

Priyanka BhowmickBusiness, BUSINESSBusiness, india

iPhone maker Hon Hai Precision Industry Co. It plans to expand its footprint in India by investing another NT$50 billion ($1.6 billion) in construction projects.The announcement, made in an exchange filing in Taiwan late on Monday, gave no further details, saying only that the investment was "for operational needs". A company spokesman declined to say where the new facility would be or what they would build. Hon Hai, also known as Foxconn, and other Taiwanese electronics makers continue to diversify their businesses outside of China as tensions rise between Washington and Beijing.

27 Nov

Passenger finds seat cushion missing on Pune-Nagpur IndiGo flight

Priyanka BhowmickBusiness, IndiaBusiness, india

A passenger on an IndiGo flight from Pune to Nagpur was shocked when he reached her seat, only to find half of his cushion missing. The passenger, Sagarika Patnaik – a resident of Nagpur — was traveling for work on IndiGo flight 6E6798 early on Sunday morning. Sagarika's husband, Subrata Patnaik, told TOI that his wife was allotted a window seat, Number 10A. "Once she reached her seat, she was shocked to find the cushion missing," her husband said. Sagarika raised the matter with a cabin crew member, who in reply asked her to look at the cushion under the…

25 Nov

Building Strong Foundations: Importance of Absorbing Right Nutrients Supporting Childhood Growth

Business BureauBusinessBusiness

Parents worldwide are concerned about their children's growth, particularly in terms of height and weight. When children fall behind, it can be linked to lifestyle factors such as dietary habits and physical activity, leading to malnutrition such as stunting, underweight, and wasting. The World Health Organization 2022 report shows that 149 million children under 5 years of age are too short for their age, with India accounting for nearly one-third of the global childhood stunting burden. Stunting has long-term effects on individuals and societies, including poor cognition, educational achievement, lost productivity, and negative impacts on overall health. Nutrient deficiencies can…