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CIC Urged RBI To Make Payments Banks as a Members

21Aug By AdityaNo Comments

News

CIC Urged RBI To Make Payments Banks as a Members

Ahead of the commercial launch of payments banks, credit information companies (CICs) have urged RBI to ensure these newbies in the banking space become their members and share data on the transactions. "Payments banks will not be into lending, but the transactions which they undertake will help understand borrowers. Therefore, we have requested the RBI to make them our members," Experian Credit Information Company Managing Director Mohan Jayaraman said. He said RBI has been receptive to the idea and has shown its willingness for the demand, but the changes cannot happen overnight as it will require amendments to the Credit Information Companies (Regulation) Act. Jayaraman further said even though payments banks will not be lending themselves, the data they share will help analyse bor...

IndusDiva Unveils Khadi Originals; To Be Available on Myntra

14Aug By AdityaNo Comments

News

IndusDiva Unveils Khadi Originals; To Be Available on Myntra

ANI- Online ethnic wear fashion brand IndusDiva announced its association with Haresh C Shah for Mumbain Khadi Village Industries Association (MKVIA) to unveil Khadi Originals. Khadi Originals is a collection of fusion apparels which is all set to recapture the original ethos of Khadi. It is not merely a fabric; it's a thought, a reflection and above all a way of life. True to its fluid yet structured character, Khadi Originals is a classy mix of earthy elegance, minimalistic chic and subtle sophistication. Crafted for men and women with discerning tastes, the silhouettes are simple, easy and comfortable in hues that vary from earthy and monochromes to pastels. Inspired by nature, these unique creations make for all-season clothing. Khadi Originals from IndusDiva will retail a ran...

Alibaba Recorded Revenue Growth of 59% Amounting To $4.85 Billion

12Aug By AdityaNo Comments

CHINA

Alibaba Recorded Revenue Growth of 59% Amounting To $4.85 Billion

Chinas e-commerce giant Alibaba has recorded a revenue growth of 59 per cent amounting to USD 4.85 billion in the first fiscal quarter ending June, the fastest since its Initial Public Offerings. The revenue of 32.15 billion yuan (USD 4.85 billion) topped market estimates, pushing Alibabas share price up by 5 per cent to about USD 92 in New York. Gross Merchandise Volume (GMV) transacted in Alibabas China retail marketplace was 837 billion yuan (USD 125 billion), up by 24 per cent year on year, state-run Xinhua news agency reported. The number of annual active buyers on China retail marketplace rose to 434 million by the end of the first fiscal quarter. The mobile revenue of China retail marketplace was 17.5 billion yuan (USD 2.6 billion) , representing 75 per cent of total Chi...

11Aug By AdityaNo Comments

CHINA

JD.com, China’s Second Biggest E-commerce Revenue Roses 42%

JD.com Inc, China's second biggest e-commerce company, reported revenue for the second quarter of 2016 that was within company forecasts, even as the growth rate continued a steady decline that is expected to continue. The company, Alibaba Group Holding Ltd's main rival in online shopping, said on Wednesday revenue for the quarter rose 42 percent to 65.2 billion yuan ($9.83 billion), within JD.com's forecast range of 64.2-66.2 billion yuan. But the company is predicting an even sharper decline in growth for the third quarter, compounding concerns that China's e-commerce sector is saturating. JD.com's revenue from Amazon-like online direct sales rose 40 percent in the quarter, versus a 67 percent jump in sales from services and other businesses. JD.com now expects revenues for the third ...

8Aug By AdityaNo Comments

FUNDING

8TV Raises $500,000 Funding To Enter Indian market

San Francisco-based startup 8TV has raised USD 500,000 funding (about Rs 3.34 crore) from investors including Redcliffe Capital Managing Partner Dheeraj Jain, Google executive Tidhar Carmeli and angel investor Thomas Korte. The company, which offers short form video network for brands, is also supported by the US tech giant Amazon that has invested about USD 100,000 worth of AWS services credit. The startup graduated from Angelpad, a tech accelerator in Silicon Valley, and its customers include firms like Unilever. "We have received a USD 500,000 investment from Dheeraj Jain (Managing Partner at Redcliffe Capital), Tidhar Carmeli and Thomas Korte (ex Google and Angelpad), with additional USD 100,000 invested by Amazon in form of AWS services," 8TV founder Leon Crutchley said. The i...

GrabShack.com- A Search Engine To Find Best Prices Across Hundreds Of E-Commerce Sites

29Jul By AdityaNo Comments

Story

GrabShack.com- A Search Engine To Find Best Prices Across Hundreds Of E-Commerce Sites

GrabShack proudly launches its search engine for finding and comparing the best prices on deals. It has been created to solve the problem every consumer faces when ordering online. The problem of “How do I find the best price on a product or a deal? I surely can’t go through every e-commerce website out When two childhood friends and serial entrepreneurs came across this problem, they figured out that the Indian market can hugely benefit from a search engine focusing on finding products prices from every e-commerce website. And thus the idea of GrabShack was born. It took Harsh Rajat and Robin Srivastava almost a year to develop GrabShack in a way which made finding the offers on products across Flipkart, Amazon, SnapDeal, PayTM and hundreds other websites. Harsh and Robin aren'...

Freecharge Launches Buyer Protection Escrow Services

27Jul By AdityaNo Comments

News

Freecharge Launches Buyer Protection Escrow Services

India's fastest growing digital payments platform Freecharge has unveiled a buyer protection service by launching escrow facility for merchants and customers. The escrow service mitigates risk of unsuccessful shopping experiences and safeguards customers' money by withholding funds till they receive the right product. The first merchant for this service, Shopo, has integrated Freecharge wallet on its app to offer escrow protection to its buyers and sellers. After buyers place orders by paying through Freecharge, the seller is notified that the buyer has completed the payment, and money is on hold in escrow. Once the order is delivered to the buyer, the money is automatically released to the seller. In case the order is not shipped or delivered within the stipulated time, the mon...

Dalitfoods.com: A Website For Pure Dalit Foods

18Jul By AdityaNo Comments

Story

Dalitfoods.com: A Website For Pure Dalit Foods

When was the last time you visited a restaurant with all Dalit chefs? Or picked up a cookery book with authentic recipes of Dalit cuisines? Or even bought a masala unique to Dalit recipes? Possibly never. For that matter, what counts as ‘Dalit food’ to begin with, you may ask. Not very surprisingly, the omniscient Google would be of little help here. Type ‘Brahmin recipes’ on the search bar, and you’ll be deluged with options, each sounding more tempting than the other. But type ‘Dalit recipes’, and suddenly Google Baba is as blank as the rest of the country. It is this invisible character of Dalit food that Dalit entrepreneur and adviser to the Dalit Indian Chamber of Commerce and Industry, Chandrabhan Prasad, is seeking to address through his new e-commerce venture dalitfoods.com whi...

Startup Cricket League- An IPL for Startups in India

18Jul By AdityaNo Comments

News

Startup Cricket League- An IPL for Startups in India

Startup Cricket League, SCL is India's first sporting event which is tailor made for startups to celebrate entrepreneurship and sportsmanship by taking a day off from their everyday problem solving trivium. Everyone loves a good game of cricket. We being Indians are exceptionally crazy about the sport. This craziness when combined with the frenzy and energy of the startup ecosystem gave birth to Startup Cricket League, IPL for Startups in India. The journey of a startup is all about the opportunities. SCL is a platform for Startups to pitch their ideas to the investors and mentors. It is also an expo for Startups to showcase their products to the hot shots of Startup Community and a bigger outreach for your product which it deserves. However, the most interesting highlight of the ev...

Shahrukh Khan Branded DDecor Launched App and Website, Invested Rs 25 Cr

3Jul By AdityaNo Comments

News

Shahrukh Khan Branded DDecor Launched App and Website, Invested Rs 25 Cr

Home decor and furnishing company DDecor has invested Rs 25 crore in digital integration of its business and retail operations, and expects to increase its market share by 10 per cent in the next five years, a senior company executive said. "We have unveiled a digital product for sellers that will cover 1,000 sales points through the newly launched D-Assist platform. We will extend the digital platform for our designers and architects, and customers by August this year," Ajay Arora, Managing Director of DDecor Home Fabrics said. "We expect to increase our marketshare to 40 per cent from the present 30 per cent in the next five years through this initiative, which will also help us expand our markets," he added. The company has invested Rs 25 crore in the exercise of digitally integrating...

Only 3% Mobile App Users in India Spend Money on In-App Purchases

1Jul By AdityaNo Comments

ANALYSIS

Only 3% Mobile App Users in India Spend Money on In-App Purchases

Just about 3.1 per cent of mobile app users in India spend money on in-app purchases compared to 5.2 per cent globally, according to a new report. However, Indian users spend almost as much as global average for in-app buys. "Only 5.2 per cent of users spend money on in-app purchases globally and in India it is 3.1 per cent. The average paying user however spends USD 9.60 in monthly transactions per app with purchase activity globally -- and USD 8.78 in India," said the State of In-App Spending report by AppsFlyer, a mobile marketing attribution analytics company. The report based on In-app Purchase (IAP) behaviors of more than 100 million mobile app users across over 1,000 apps - found that, overall, Asian users spend 40 per cent more on in-app purchases than the rest of the world wh...

30Jun By AdityaNo Comments

News

Chinese Smartphone Xiomi Do Not Want Exemption From Sourcing Norm Like Apple

Chinese smartphone maker Xiaomi today said it is not seeking exemption from Indian government to fulfil the 30 per cent local sourcing norm, as it already makes 75 per cent of devices locally that are sold in India. "We are manufacturing 75 per cent of devices that we sell in India locally. From that perspective, we dont need any kind of exemption. Our application is still under the purview of the government. We probably will be able to know about it in some time and then share more details," Xiaomi India Head Manu Kumar Jain said. Xiaomi, in April this year, had approached the Department of Industrial Policy and Promotion (DIPP) for opening single brand retail stores in India. Apple too applied for opening single brand retail stores but lobbied hard for the exemption from the man...