Business News

Crypto platform CoinSwitch Kuber raises $260 mn, to scale India biz

Crypto platform CoinSwitch Kuber raises $260 mn, to scale India biz

New Delhi, Oct 6 (IANS) Leading crypto platform CoinSwitch Kuber on Wednesday said it has raised over $260 million in its Series C funding round from Andreessen Horowitz (a16z), Coinbase Ventures and existing investors, and will scale its India operations, including hiring across verticals.With more...

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Amazon pays $1.2 bn as legal fees in India to remain operational

Amazon pays $1.2 bn as legal fees in India to remain operational

New Delhi: The US-based company Amazon Inc's India operations has spent a staggering over $1.2 billion in legal expenses in the last two years to maintain its presence and relevance in one the largest markets globally.As per the official data from the public account filings made by the company in In...

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Letter to SEBI: Solution to India's unjust IPO allotment system

Letter to SEBI: Solution to India's unjust IPO allotment system

Savitri (name changed) is among the crores of retail investors who has actively turned to the markets for growing her money. Of course, many have in the last 15 months ever since the pandemic broke.Savitri is as honest, conscientious, and hardworking as any of the retail investors. In fact, she is t...

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'Covid pandemic affects Indian youth entrepreneurial ecosystem'

'Covid pandemic affects Indian youth entrepreneurial ecosystem'

New Delhi: The impact of the ongoing Covid-19 pandemic on youth entrepreneurship ecosystem in India is palpable, with only 47 per cent of respondents confident of sustaining beyond six months if the situation persists, while another 25 per cent hope to sustain between one to six months, according to...

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Privatisation worries pensioners of general insurance firms

Privatisation worries pensioners of general insurance firms

Chennai: The pensioners in the four public sector general insurance companies are worried a lot about the safety of their future pensions when the central government privatises one of them, said an official of the General Insurance Pensioners Association, Andhra Pradesh.The central government has de...

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Massive Fraud at Cooperative bank, ED registers case in Kerala

Massive Fraud at Cooperative bank, ED registers case in Kerala

Thiruvananthapuram: The Enforcement Directorate (ED) has now registered a case on the massive fraud that surfaced last month at the local CPI-M controlled Trissur Karavanoor Cooperative Bank.The fraud that was detected according to State Cooperative Minister V.N. Vasavan, also a top CPI-M leader, is...

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Explainer: What is Retro Tax and who benefits from the latest policy?

Explainer: What is Retro Tax and who benefits from the latest policy?

Former Finance Minister Arun Jaitley who had reckoned the decision to tax British Telecom major Vodafone a Retrospective Tax as an erroneous one would be a happy man.This week, the Indian Government introduced a bill in the Parliament that seeks to do away with the Retrospective Tax.For those unawar...

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Currency Forecast: Rupee likely to weaken against the US Dollar, here's why

Currency Forecast: Rupee likely to weaken against the US Dollar, here's why

New Delhi: A strong US dollar as well as domestic inflationary concerns are expected to weaken the Indian rupee during the upcoming weekly trade.Besides, Reserve Bank's dollar buying spree is expected to support this trend."Rupee is expected to weaken on the back of a strong US dollar and rising inf...

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Ahead of IPO, Ola announces Smart bikes, may also announce new line of business

Ahead of IPO, Ola announces Smart bikes, may also announce new line of business

Bhavish Aggarwal headed Ola Electric which has been making news thanks to its smart bikes and a Rs 3,000 crore IPO is likely to announce a new line of business.Reports have emerged about Ola's probable entry into the second hand used car market segment.Nearly a fortnight ago, Ola had announced via i...

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Zomato announces wholly owned subsidiary to handle Payments

Zomato announces wholly owned subsidiary to handle Payments

New Delhi: Food app Zomato has announce launching a wholly owned subsidiary called Zomato Payments Private Limited.In a notification to the exchange houses on Wednesday, Zomato revealed that the new subsidiary would cater to payment and technology services.The objective of setting up a payments divi...

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