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Govt Issues Notices to RJio, Paytm For Using PM Photo in Advts

11Feb By AnkitaNo Comments

News

Govt Issues Notices to RJio, Paytm For Using PM Photo in Advts

The government has slapped notices on billionaire Mukesh Ambani-led Reliance Jio Infocomm and Paytm for using the Prime Minister's photograph in their advertisements. The Ministry of Consumer Affairs, which is custodian of prestige of High Offices like President and Prime Minister as well as historic figures, sent the notices under the Emblems and Names (Prevention of Improper Use) Act of 1950, which bars use of Prime Minister's name and picture for commercial use. "We have sent notices to both (the companies) for using PM's picture in their advertisement. We are yet to receive their response," Consumer Affairs Secretary Hem Pande told Pixr8. The Act provides for a nominal financial penalty for violations but more than the monetary fine holding guilty of for improper use o...

Axilor Ventures Plans to Accelerate Investments in Early Stage Startups

11Feb By NitishNo Comments

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Axilor Ventures Plans to Accelerate Investments in Early Stage Startups

Axilor Ventures today announced that it plans to accelerate its investments in early stage startups. It is looking to double the intake of startups for its 100-day accelerator program, the applications for which are currently open. In the last two years since inception Axilor has supported 30 startups through its accelerator program and invested in over 20 startups through its investment programs. Axilor’s fast growing portfolio now includes startups in AI, Enterprise, Fintech, Consumer Internet and Healthtech. Talking about the outlook for startups, Kris Gopalakrishnan, Chairman of Axilor Ventures said, "We are getting ready for the second wave of startups. A fast growing base of online consumers, an enabling public digital infrastructure, growing pool of founders with prior startup e...

Online E-commerce Company Flipkart, Snapdeal & Amazon Raises Concern Over TCS Clause in GST

10Feb By AnkitaNo Comments

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Online E-commerce Company Flipkart, Snapdeal & Amazon Raises Concern Over TCS Clause in GST

Online retailers Flipkart, Snapdeal and Amazon came together to raise concerns about the tax collection at source (TCS) clause under draft model GST law, saying it could result in a capital lock-down for sellers and discourage them from selling online. This is the first time that the three companies locked in intense competition for leadership of the booming Indian e-commerce market -- have come together to voice their concerns on an industry issue. In the past, they have even taken potshots at one another through social media platforms like Twitter and also offline. Stressing that GST is one of the most forward-looking tax initiatives, the players exuded confidence that it will have a transformative impact on the sector. However, the TCS clause would lead to a capital lock-down o...

Indian PM Modi Led Cabinet Approved 2351 Crore For Digital Saksharta Abhiyan

10Feb By PriyankaNo Comments

INDIA, News

Indian PM Modi Led Cabinet Approved 2351 Crore For Digital Saksharta Abhiyan

The Cabinet today approved 'Pradhan Mantri Gramin Digital Saksharta Abhiyan' with an outlay of Rs 2,351.38 crore to make 6 crore rural households digitally literate by March 2019. "The Union Cabinet chaired by Prime Minister Narendra Modi has approved 'Pradhan Mantri Gramin Digital Saksharta Abhiyan' (PMGDISHA) to make 6 crore rural households digitally literate. The outlay for this project is Rs 2,351.38 crore to usher in digital literacy in rural India by March 2019," an official statement said. This is in line with the announcement made by the Finance Minister in the Union Budget 2017, it added. "PMGDISHA is expected to be one of the largest digital literacy programmes in the world," the statement said. Under the scheme, 25 lakh candidates will be trained in the fiscal year ...

Indian Government Receives Over 1,300 Complaints Against E-commerce Company

8Feb By NitishNo Comments

INDIA, News

Indian Government Receives Over 1,300 Complaints Against E-commerce Company

Government has received over 1,300 complaints against direct selling and e-commerce companies till December 2016, Parliament was informed today. It also made clear that there is no proposal to bring in a separate law to regulate e-commerce platforms. Placing the details of complaints received by its National Consumer Helpline against direct selling and e-commerce companies in the Lok Sabha, Minister of State for Consumer Affairs C R Chaudhary said, "The received complaints were dealt with as per consumer grievance redressal procedure." A consumer can file a complaint relating to e-commerce transactions in the appropriate consumer forum established under the provisions of the Consumer Protection Act, he said in his written reply to the Lower House. As per the data, 1,386 complaints...

Online Payments Firm PayPal Made Policy Changes For Employees in India

7Feb By AnkitaNo Comments

News

Online Payments Firm PayPal Made Policy Changes For Employees in India

Online payments firm PayPal today said it has enhanced the company's caregiving paid leave policies for its employees in India, including more than doubling its current maternity leave from 12 to 26 weeks and doubling its paternity leave from 5 to 10 days. The company has also introduced paid adoption leave of 16 weeks for its women employees, while the paternity policy has been adjusted to include adoption leave within its mandate, PayPal said in a release issued here. The extended caregiving leave policies are effective from January 1, 2017. "We believe that fostering an open, diverse and innovation-driven culture is essential for our employees to be at their creative best. As part of this effort, our extended caregiving policies not only enable women to come back to work after ...

Facebook Nears 2 Billion Users Mark: Report

7Feb By Press Trust of IndiaNo Comments

News

Facebook Nears 2 Billion Users Mark: Report

Popular social network Facebook is set to become the first 2 billion-user company this year, according to a media report which attributed its "impressive" user growth to "promotional data plans" from countries like India. Facebook had 1.86 billion monthly active users as of the end of 2016, up from 1.79 billion the previous quarter and 1.59 billion a year earlier, the company said in its fourth quarter earnings report. Chief Financial Officer David Wehner said Facebook added more users this quarter compared to a year earlier than any quarter since the company went public in 2012. Wehner attributed the "impressive" user growth to "promotional data plans" from third parties in countries like India as well as Internet.org, Facebook's free stripped-down Internet offering in developing...

Indian E-commerce Company Snapdeal Suspends its Affiliate Programme Amid Cash Crunch

5Feb By NitishNo Comments

News

Indian E-commerce Company Snapdeal Suspends its Affiliate Programme Amid Cash Crunch

India's one of the leading e-commerce company, Snapdeal suspended its affiliate programme for customers amid cash crunch. The steps taken by the company seems a major setback to its operation and also the concern over cash crunch. The company finds it very hard to secure next round of funding. However, the company is in still talk with one of its biggest investor softbank. The company informed its affiliate partners early Friday that it will not be able to pay for orders and additional installations of its mobile application routed through them, effective immediately. Snapdeal's affiliate network comprises coupons, deal and cashback channels as well as blogs that bring in potential customers to website and mobile app. It pays commissions to affiliates based on the number of people...

Indian Police Bust $550 Million Internet Scam That Duped Thousands

4Feb By NitishNo Comments

News

Indian Police Bust $550 Million Internet Scam That Duped Thousands

Indian police have busted an internet scam in which around 650,000 people lost a combined 37 billion rupees ($549 million) after sending money to a company that promised they would earn cash by clicking on web links, police said on Friday. Police, who described the pyramid-style scheme as one of India's biggest ever, said they had arrested three ringleaders on the outskirts of New Delhi, the capital, and seized more than 5 billion rupees ($74 million) from bank accounts. "They learned that if you give some money back to members, the investments would go up exponentially," Amit Pathak, head of a police cyber crime unit in India's populous northern state of Uttar Pradesh, told Reuters. The men ran a series of websites that promised would-be subscribers a chance to earn five rupees (...

Uber CEO Quits Trump’s Business Advisory Group

4Feb By NitishNo Comments

News

Uber CEO Quits Trump’s Business Advisory Group

Uber Technologies Inc Chief Executive Officer Travis Kalanick quit President Donald Trump's business advisory group on Thursday amid mounting pressure from activists and employees who oppose the administration's immigration policies. Critics included Uber drivers, many of whom are immigrants themselves. "Joining the group was not meant to be an endorsement of the president or his agenda but unfortunately it has been misinterpreted to be exactly that," Kalanick, who had planned to attend a meeting of the group on Friday, said in an email to staff that was seen by Reuters. Uber spokeswoman Chelsea Kohler later confirmed that he had left the group. Social media campaigns had targeted Uber, urging users to delete accounts and opt for rival Lyft Inc. Uber has been emailing users who...

4Feb By AnkitaNo Comments

News

India Continues to Be a Rather Large Investment For Us: Amazon

E-commerce giant Amazon remains bullish on India, introducing new features for customers and sellers, even as the region continues to weigh heavy on the US-based company's finance. For the December quarter, Amazon's International business posted an operating loss of USD 487 million, up significantly from USD 108 million in the year-ago period. Its North America business had an operating income of USD 816 million (up 28.3 per cent year-on-year), while that from AWS was higher by 59.6 per cent to USD 926 million during the said quarter. Overall, net sales was up 22 per cent to USD 43.7 billion, while net income grew 55.3 per cent to USD 749 million in the fourth quarter. "I'd point out India which continues to be a rather large investment for us... So, it's still very early. We cont...

Uber to Suspend its Ride-Hailing Service in Taiwan From Feb 10

2Feb By reutersNo Comments

News

Uber to Suspend its Ride-Hailing Service in Taiwan From Feb 10

Uber Technologies Inc said it will suspend its service in Taiwan from February 10, the latest salvo in the wrangle between the island's authorities and the global ride-hailing service company. Late last year, Taiwan's legislature finalised regulations raising fines against unlicensed ride-sharing services, targeted at Uber, which said at the time that was the highest level for such fines globally. "Today, we are announcing our intention to pause our Taiwan service starting Friday 10th February. We hope that pressing pause will reset the conversation and inspire President Tsai (Ing-wen) to take action," Uber said in a statement on its website. The statement did not specify what action Uber wanted the president to take.