Small and payments banks have not yet devised a business model which can be termed viable, SBI Chairperson Arundhati Bhattacharya said today. “Neither the payments banks nor small finance banks seem to have as yet devised a business model that can be said as viable,” said Bhattacharya, whose bank has tied up with Reliance Industries […]
Two self-driving cars on Saturday afternoon wrapped up a 2,000-km (1,240 miles) journey in China’s first long-distance road test for autonomous vehicles. The vehicles, produced by Chang’an Automobile, left the southwestern metropolis of Chongqing on Tuesday and arrived at Beijing at about 5 p.m. Saturday. The cars successfully drove distance from other vehicles, changed lanes, […]
Twitter CEO Jack Dorsey did not take salary or stock options since he joined the struggling micro-blogging website last year and received personal and residential security costs totaling $68,506, a media report said on Saturday. His predecessor Dick Costolo was awarded a total of $91,795, which included a monthly salary of $7,162, car service and […]
Gurgaon-based mobile wallet firm MobiKwik expects to turn profitable by mid-2017 and plans to diversify revenue streams by offering financial products like loans and mutual funds, a senior executive said. “We are looking at diversifying our revenue streams and our first goal is to be profitable on a monthly basis by middle of 2017,” MobiKwik […]
EdCast, the online and mobile platform for distributing educational content from a network of industry experts, has raised in its latest round of funding led by GE Asset Management. The funding will use to help educational institutions, educators, enterprises and governments worldwide to collaborate with each other. Other investors joining with GE Asset Management includes […]
Micromax, country’s second-largest handset maker is likely to invest around Rs 2,000 crore in the next five years in manufacturing and new product lines, its co-founder Rajesh Agarwal said today. He said the company is expected to clock Rs 15,000 crore revenues during the current fiscal. It recorded Rs 12,000 crore revenues last year. “We […]
Paytm founder Vijay Shekhar Sharma will chair the newly formed Payments Banks Group at industry body IAMAI. Vodafone India business head (M-Pesa) Suresh Sethi will be the Vice-Chairman of the Group, Internet and Mobile Association of India (IAMAI) said in a statement. “Payments Banks is an innovative model of bringing unbanked population into the formal […]
Cloud video production platform 90 Seconds today announced it has raised USD 7.5 million in Series A financing led by Sequoia India. The round was supported by SKY TV NZ, Airtree Ventures, Beenext and Fotolia.com (sold to Adobe for USD 860 million) and the founder of the platform Oleg Tscheltzoff, will accelerate 90 Seconds global […]
The Unified Payments Interface (UPI), which comes into effect Monday, is a single interface across all National Payments Corporation of India (NPCI) systems, allowing customers to instantaneously transfer funds across different banks with the use of a single identification and password. Multiple bank accounts can be linked to a single mobile banking application and money […]
A startup by two college students has developed a compact home automation module claiming it to be the most affordable in the market. The prices of ‘Smitch’ module, ranging from Rs 2,999 to Rs 13,499 and focussing on savings and comfort, will be launched at a consumer fair here on April 21, H R Sanathkumar […]
Food and restaurant recommendation platform Burrp aims to garner revenues of Rs 150 crore by March 2019 as it expands services like events and offers a more personalised search experience to users. The food-tech company, which competes with the likes of Zomato, is also aiming to facilitate transactions worth Rs 1,000 crore through its platform […]
New Delhi (April 8, 2016) – GOQii, a digital health and wellness solution integrating personal coaching with wearable analytics, today announced it has named former Google executive Amit Singhal to its Board of Directors, his first role since leaving his position as Head of Google search. Amit brings more than 20 years of invaluable consumer […]