Jane Street could do what they did because of the most fundamental flaw in the Indian stock market: a fragmented, fractured, fissured, fistula-ed liquidity stream, points out Shankar Sharma.
Major credit issuers, including the largest - HDFC Bank - have integrated their systems with the Bharat Bill Payment Systems (BBPS) for receiving credit card repayments via third-party applications.
US e-commerce giant Amazon, which is said to be investigating alleged bribes paid by its legal representatives in India, spent a staggering Rs 8,546 crore or $1.2 billion in legal expenses for maintaining a presence in the country during 2018-20, sources said. Sources aware of the firm's public account filings said entities of Amazon - including Amazon Retail, Amazon Seller Services, Amazon Transportation Services, Amazon Wholesale, and Amazon Internet Services - paid Rs 3,420 crore in India during 2018-19 and Rs 5,126 crore during 2019-20 towards legal fees. Amazon is locked in a legal tussle over the takeover of Future Group and is facing a probe by the Competition Commission of India (CCI).
rediffGURU Nayagam PP, career counsellor and the founder of EduJob360, counsels students and aspiring professionals about how they can make the right career decision.
Flipkart-backed fintech firm super.money is aiming to be among the top five players on the Unified Payments Interface (UPI) leaderboard by the end of this year, a senior company executive has said. The company, which rolled out its beta version in June this year, has processed about 10 million transactions till date. "We have a target of 100 million transactions for the end of the year.
The deal should keep Shahid busy for the next two years, since there are no new movie offers happening.
Flipkart claims that over one billion customers visited its platform during the eight-day-long The Big Billion Festival. Amazon's Great Indian Festival 2022, which will go on for a month, is throwing discounts at customers that can hardly be ignored. But some of the stories that are coming out from these sales are not so great.
The National Company Law Appellate Tribunal (NCLAT) on Monday adjourned till February 25, the hearing on the plea of e-commerce major Amazon, seeking an interim stay over the order passed by fair trade regulator CCI, which suspended the over-two-year-old approval for its deal with Future Coupons Pvt Ltd (FCPL). When the matter was called for hearing, a two-member bench expressed its difficulties to take up the matter on Monday, as one of the members is retiring in the next four days, after completing his tenure. In this matter, NCLAT would also have to hear other parties such as fair trade regulator CCI, before passing an order and it would take some more time and then the retiring member would not be a part of the bench.
WhatsApp Pay India Vinay Choletti has resigned just after four months he was elevated to the position, according to his details on a professional social media platform. Choletti's resignation is the fourth high-profile exit in about one and half months from Meta in India after its country head Ajit Mohan stepped down in November. After Mohan, WhatsApp India head Abhijit Bose and Meta India Public Policy Head Rajiv Aggarwal also resigned from the company last month.
'We look forward to providing great customer experiences in India.'
PhonePe said on Tuesday it has launched a service that will allow the fintech firm's Indian users traveling abroad to pay foreign merchants using Unified Payments Interface (UPI). 'UPI international' supports merchant outlets in UAE, Singapore, Mauritius, Nepal and Bhutan that have a local QR (quick response) code. Users will be able to make direct payments in a foreign currency from their Indian bank, like they do with international debit cards.
Last year in January at Amazon's flagship event Smbhav, Infosys Co-founder N R Narayana Murthy had to shorten his keynote speech from 20 minutes to about five because the event was delayed by 1.5 hours. "I will try to finish it in five minutes, because I am not used to delays," said Murthy, while addressing hundreds of micro, small and medium enterprises (MSMEs) about building businesses that last. In the audience was Amazon founder Jeff Bezos. Murthy referred to Bezos' prediction that the 21st century will be the Indian century. "That confidence enhances our enthusiasm," said Murthy. The relationship between Murthy and Bezos dates to 2014, when Prione, a 49:51 joint venture (JV) between Amazon and Murthy's venture capital company Catamaran, was formed.
Elon Musk's Starlink has got licence for satcom services in India, according to sources.
Days after billionaire Mukesh Ambani-led group took some of the stores of Future Group, whose lease had expired due to the non-payment of rent, Amazon.com Inc on Tuesday accused the two of 'fraud' and said such 'contumacious' transfer will be liable to legal action.
These top two apps account for more than 78 per cent of the UPI market in terms of volume of transaction, and 86 per cent of the market by value of transactions in December.
According to industry studies, the Hindi Internet user base is likely to outgrow the English user base by 2021 and along with Marathi and Bengali users, will drive volume growth.
'As negotiations continue, the path forward demands not only diplomatic skill, but also vigilance against legal asymmetries embedded in America's trade playbook.'
The government is planning to extend the electronic modes of tax payment to its own payments platform, Unified Payments Interface (UPI), credit cards of banks, or even a mobile wallet like Paytm.
India has its share of both large tech companies and large national laboratories, but why is it that these don't seem to be at the forefront of any innovation news headlines? asks Ajit Balakrishnan.
Karnataka tax dept may attach assets of dealers; new retailers not being registered
While players like Paytm, MobiKwik, and PhonePe allow you to buy gold for Rs 1, Amazon Pay has kept the minimum amount at Rs 5. Digital gold is essentially an avenue for investing in physical gold.
Amazon's fulfilment centres, which store products of hundreds of vendors selling on the American online major's platform, are being cited by Karnataka state government authorities as a primary concern in an ongoing tax dispute.
The Spot has a touchscreen, which makes it more interactive, says Abhik Sen.
'There is so much talk about Netflix and what they should be doing.' 'In two years, SonyLIV has done what Netflix should be doing.'
With the arrival of new players such as Amazon Pay, Google Tez and Flipkart's PhonePe, digital money companies are now changing their business pitch.
From Saif Ali Khan's sabse bada beta's streaming debut to how to make potstickers with Prince Charles' chhoti bahu, it's all there on OTT this week.
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
Apart from air travel, Flipkart would also be able to offer train bookings through Cleartrip.
Payal Kapadia, Ridley Scott, M Night Shyamalan.., catch the works of these fine filmmakers on OTT this week.
Facebook-owned messaging service WhatsApp has secured regulatory approval for launching its digital payment platform -- WhatApp Pay -- in a phased manner, close to two years after the US-based company's pilot run.
'Credit card debt comes with high interest cost and stringent penalties.' 'If you do not repay on time, the costs balloon.'
The US company said it would make the two full fixture rounds -- the first December midweek games and the festive bank holiday games -- available to Prime Video subscribers in Britain at no additional cost.
The cities where services have resumed include Bengaluru, Mysore, Pune, Ludhiana, Noida, Gurugram, Raipur, Lucknow, Hyderabad, Kolkata, Ahmedabad and Mumbai. Industry experts believe it would be at least 4-5 days before the backlog of orders can be cleared.
'If you are watching cricket and don't want to leave the screen, you could check the menu and order through Zomato (or any other app) from a small part of your screen. That is what we are working towards.'
A day after lambasting e-commerce players for predatory pricing, Union Commerce Minister Piyush Goyal on Thursday said he is not against online platforms but India wants such entities to be "fair and honest" in their conduct. Speaking with reporters in the financial capital, the outspoken Union minister said the rule of the law should be followed in letter and spirit, and made it clear that consumer preferences should not be influenced by algorithms.
Industry associations and companies in the United States, including the US Chamber of Commerce, Coalition of Services Industries and the iconic bike company Harley Davidson have called on the Donald Trump dispensation to push India to reduce tariffs, non-tariffs, and regulatory barriers to boost American exports.
The 'buy-now, pay-later' (BNPL) juggernaut continued to roll on during the festive season with multiple players seeing disbursals grow by more than 100 per cent compared to Diwali last year. LazyPay, the BNPL platform of Prosus-owned payments major PayU, witnessed a credit demand increase of 300 per cent over the festive season last year, especially in segments like travel, food & beverages and entertainment. "We also saw an uptick of 70 per cent in user acquisition in the last two months.
Flipkart and Snapdeal take a cue from Amazon even as they differ on who is ahead in the race
With expectations of customers changing and demand for seamless, uninterrupted shopping increasing, tech companies are now using this fear of becoming irrelevant as a sales pitch to sell their products to traditional retailers.
'On the governmental level, we are saying all the right things, like beti bachao, beti padhao. Yet, a High Court judge in Prayagraj, who is highly educated, has studied the Constitution and its laws, says breaking the naada of a pyjama or touching the breasts of a minor girl is not part of the reform process. Just giving lip service is not enough, the general mindset has to change.'
