WhatsApp on Wednesday said it expects to facilitate the purchase of "affordable sachet-sized" health insurance through its platform by the end of the year as part of its efforts to provide users in India with greater access to financial solutions. The Facebook-owned company noted that its 'Payments' feature is now available to users across the country (currently up to 20 million users) with support from banking partners - State Bank of India, HDFC, ICICI and Axis Bank.
The final report was to be submitted in March but it got an extension till the second week of the monsoon session that began September 14.
'We have focused on profitable revenue, cash generating businesses, throughout our journey.'
Flipkart, Amazon & Paytm have raised commissions from sellers.
Blackstone, KKR, and Bain Capital, among others, are in the race for its general insurance arm, and Bandhan Bank, Bain, and Dabur Investments have shown interest for RCap's 51 per cent stake in the life insurance business.
Fresh capital raised by companies by way of initial public offerings (IPOs) is set to hit a 14-year high, thanks mainly to Zomato's maiden offering. India Inc has raised about Rs 19,300 crore in fresh capital by maiden offerings, including the Rs 9,000 crore the food delivery company will raise this week, so far in 2021. The best year in terms of fresh fund-raise was 2007, when companies had raised Rs 32,102 crore. With Paytm planning to issue fresh shares worth Rs 12,000 crore, the domestic market looks set to surpass that tally this year.
A final decision by the team's think-tank will be taken after the final practice session on Friday.
Affordable pricing, a variety of themes, and the ease of transacting are among key reasons that have made smallcases a hit among young investors.
From small retailers' experiences with e-wallets to digital transaction numbers post demonetisation, Geetanjali Krishna and Karan Choudhury find out where the truth lies.
'A lot of first-time users who have entered the markets after Covid are increasingly investing in mutual funds, exchange-traded funds, and stocks for their long-term goals.'
Valued at $5 billion, Byju's has seen growth sky rocket in the last two years on the back of mega VC top-ups.
India suffered another injury blow ahead of the third and final Test against New Zealand, starting in Kolkata on Saturday, after pacer Bhuvneshwar Kumar was ruled out with injury.
Mukesh Ambani-owned RIL's JioMart is set to launch a slew of new products including financial services, electronics to airline tickets to take on the competition from upcoming rivals like the Tata Super app and other established players including PayTM, Amazon and Flipkart. This comes at a time when RIL's e-commerce revenues are set to grow by 35 per cent to $15 billion within four years and its core retail revenue is expected to grow at the same pace to $44 billion, as per a forecast by Goldman Sachs. "The Tata vs JioMart war will be the next big corporate battle to watch. "While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft," said head of a rating firm asking not to be quoted.
IPO-bound mobility platform Ola, said it has successfully raised $500 million via a Term Loan B (TLB) from marquee international institutional investors. This term loan has no impact on the valuation of Bhavish Aggarwal-led Ola. The Bengaluru-based firm recently raised $139 million. This is part of a $1 billion funding round for which the company is in talks with investors, increasing its valuation to about $7.5 billion, according to the sources.
WhatsApp's ambitious payment services' blueprint in India has been caught in a bind over concerns around authentication and its data storage practices.
Chinese e-commerce giant planning to enter India this year, will take on global e-retailer
Amid oxygen shortage and a faltering health system in the country, India is seeing over 300,000 cases daily.
India opener Murali Vijay was, on Saturday ruled out of the second cricket Test against Australia which begin at the Chinnaswamy stadium, due to a shoulder injury sustained in the first match at Pune.
In about a year, top e-commerce companies are expected to raise as much funds as the three sector leaders raised in about five years.
Unlike many peers in the VC space, LSE grad Juneja doesn't have an entrepreneurial background but is said to be strong in finance skills
Who will make the most of the disruptions of 2016 this year? Mihir Sharma's list of probables.
As if wanting to be an antidote to the coronavirus pandemic, the Indian stock market adorned carnival robes in 2021 with a tsunami of liquidity unleashed by global central banks coupled with supportive domestic policies and the world's largest vaccination drive sparking off a world-beating rally on Dalal Street, despite bouts of uneasiness over fizzy valuations. While the wider economy shuttled between recovery and relapse, dictated by multiple mutations of the virus, equity market benchmarks appeared headed in just one direction -- skywards. The dizzying upward journey has added a whopping Rs 72 lakh crore during 2021 to investors' wealth, measured as the cumulative value of all listed shares in the country, taking it to nearly Rs 260 lakh crore.
The second One-day International to be played between India and Windies will now be held at Visakhapatnam, the BCCI announced on Wednesday.
Future Group said customer acquisition costs, fulfilment costs and other expenses in e-commerce add up to 50 per cent of overall business costs, making it unviable
Currently, only three have completed more than six months of operation in the space - Fino Payments Bank, Airtel Payments Bank and Paytm
Experts believe that the government needs more innovative ways to secure the cyber space in the country and a cess is more like a punishment which would not help in the long run.
The final policy may be out only after formation of the new government, according to sources
Chinese bicycle sharing giant Ofo launches service in seven Indian cities.
New Zealand is the latest country after the United Arab Emirates and Sri Lanka which has offered to host the Indian Premier League in case the T20 league can't be held in India due to rising cases of coronavirus. The postponement announcement of the T20 World Cup scheduled to be held in October-November in Australia, is imminent, creating a window for the 13th edition of IPL.
Almost all banks that issue contactless cards provide users with a 100 per cent liability cover.
As per the revised timings issued by the BCCI on Sunday, both the matches will start at 11:30 AM IST instead of 13.30 PM.
Not displaying the mandatory information, including country of origin, on products sold on their platforms in India, draws government's attention.
India is currently home to 52 unicorn startups and one of the fastest-growing startup ecosystems.
CashKaro.com works with online retailers like Amazon.in, Paytm, Jabong and ShopClues
That's because India does not have a serious venture capital industry with an appetite for risk, observes T N Ninan.
With funds from SoftBank, Delhivery plans to rapidly scale up its reach from 15,000 pin codes to 20,000 by the June quarter of 2019-20.
The draft rules underline security parameters that digital wallet companies, such as Paytm, FreeCharge and Mobikwik, will have to follow
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
While BlackRock is an existing investor in Byju's, T Rowe joined as a new investor.
The e-commerce industry is expected to return to high growth next year as large players such as Amazon, Flipkart and Paytm Mall begin to look beyond the 20 million customers who shop online on a monthly basis.
