Many of India's fintech entities and banks have stored all their customer data in India; however, many do use foreign servers, for operations, providing services and for data analytics.
Major shareholder Kinnevik, a Swedish investment firm, devalued Quikr by 45%, referring to the exaggerated revenue resulting from fraudulent transactions that rocked the company. Quikr is now valued at about $577 million.
An ambitious long-term vision to ensure economic connectivity between India and the rest of Southern Asia is critical to India's trade policy objectives.
Mr Prabhu has a big challenge ahead in implementing trade reforms to regain the lost export momentum, says Jayanta Roy.
WhatsApp to foray into digital payments & expand to other markets
The deal follows Facebook picking up a 9.99 per cent stake in the firm that houses India's youngest but largest telecom firm on April 22 for Rs 43,574 crore. Within days of that deal, Silver Lake -- the world's largest tech investor -- bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore. On May 8, US-based Vista Equity Partners bought 2.32 per cent stake in Jio Platforms for Rs 11,367 crore.
Marking the end of strict banking secrecy practices, Switzerland earlier this month agreed to automatic exchange of information and mutual administrative assistance in tax matters with overseas authorities.
Whether it's about colonising Mars or donning Net-connected apparel, 2022 is a year everyone seems to be planning for, says Nivedita Mookerji.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
Sean F Foley, global leader of KPMG Transfer Pricing Services, who has also been an APA tax administrator for the American government agency, tells Business Standard companies are optimistic but cautious about the development.
The share of public sector undertakings (PSUs) in the total market capitalisation of listed companies--at an all-time low of 10 per cent currently --- may get a leg-up from the government's divestment push. Recently the government announced the successful sale of national carrier Air India to Tata Sons, India's first privatisation of a PSU since 2002-03. The transaction is expected to be completed by December.
LIC identifies the problems well, but what the markets will watch is how nimble it is with the solutions.
Infosys has officially announced offering its clients new engagement models including outcome based pricing and transaction based pricing. According to a senior company executive, the clients accepting these models as they ask for 'no immediate pay-out of cash' and 'pay money per transaction basis.' These models can also be helpful for the clients to deal with the demand fluctuations and effectively manage their budgets.
The merger, in which TCS will hold 51 per cent stake and Mitsubishi 49 per cent, will create a new IT services company of significant scale in the Japanese market with annual turnover of over $600 million.
'Quality of management, corporate governance, allocation of capital, full disclosures should form the basis to decide investing in a particular stock.'
Smartphone maker BlackBerry will sell most of its real estate holding in Canada in a bid to improve operational efficiencies as the firm is facing mounting losses and unsold handset inventory.
US major lost its first mover advantage, now wants to secure its investments in the country.
With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic.
bp had last year bought 49 per cent stake in the 1,400-odd petrol pumps and 31 aviation turbine fuel stations owned by RIL for $1 billion.
From its March 2020 low, Bitcoin has gained a massive 474 per cent and has surged 214 per cent year-to-date.
Snooping is one of the oldest peccadilloes of man, observes Ambassador M K Bhadrakumar.
The Chinese investor in the parent firm of Koo, India's answer to Twitter, is on its way out after other investors have pledged to buy out its 9 per cent stake, Koo's co-founder and CEO Aprameya Radhakrishna said.
He takes over from Ashutosh Vaidya, who will move into a full-time position as head of Global Delivery for Dell Services.
Upaid claimed it had served requests for production of documents related to the 'now scuttled Maytas transfers on Satyam' on Friday, but now had to submit this motion to the court 'because Satyam had repeatedly resisted its efforts to depose Raju and Vadlamani in the case.' The current motion is in reply to a disparagement case that Satyam had filed against Upaid wherein the former had claimed that the payment services firm has been disparaging them in the public domain.
The acquisition will enable the Anil Ambani group company to foray into the African country. However, financial transactions of the deal were not disclosed.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Global retail giant Walmart has got fair trade regulator CCI's green signal for purchase of Bharti group's almost 50 per cent stake in their Indian joint venture for wholesale stores business.
'Overall, compared to the previous episode, we are in a better shape because the vaccine is already out there and vaccination drives are proceeding'
A large number of consumers use their cellphones to research products and services in stores and they are increasingly willing to share usage data with advertisers, but most have concerns over the security of mobile transactions, says a KPMG report.
Hyderabad firm Digitsecure launches online and mobile social wallet platform that enables payments, money transfers between FB, BBM users.
Physical advisors have been receiving tough competition from algorithm-based investment counselling and robo-advisories.
The top three industries in India susceptible to economic crimes are financial services, manufacturing and professional services
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The healthcare IT sector saw 168 transactions in the second quarter of 2013, higher than 104 in the previous quarter (January-March) and 163 in all of 2012.
The finance ministry on Tuesday cited "green shoots" of recovery in agriculture, manufacturing and services sectors, and said the prompt policy measures taken by the government and RBI have helped reinvigorate the economy with minimal damage. Stating that the agricultural sector remains the foundation of the Indian economy, the ministry said that a normal monsoon, as has been forecast, should support the rebooting of economy.
The active user base of mobile banking service in India is expected to increase 10 times to cross the 2.5 crore (25 million) mark by 2012, with cost of such transactions being lower than other channels like internet and ATM, a report says.
The branch managers have come out of their glass cabins and the sellers' market has transformed into a buyers' market, but there is no end to the harassment of customers, asserts Tamal Bandyopadhyay.
The PFI is alleged to have been continuously involved in anti-government propaganda and spreading the narrative that Muslims were being persecuted in India.
The US-based agency, however, termed the 7 per cent GDP growth for the October-December quarter as "surprising", a tad lower than 7.4 per cent in the previous quarter.
IT services major Cognizant Technology Solutions Corporation is strengthening its capabilities in the life sciences segment by acquiring New Jersey-based marketRx, provider of analytics and software services to global life sciences companies, for $135 million.
Fresh capital will help Flipkart further grow its e-commerce marketplace in India as the world's second-largest internet market begins to recover from the COVID-19 crisis.
