The Rs 2,000 note withdrawal decision and response to it so far suggest that the move can help boost FY24 GDP growth to beyond 6.5 per cent estimated by the RBI, a report said on Monday. The real GDP growth for the first quarter of FY24 will come at 8.1 per cent with an upward bias and the Reserve Bank of India's 6.5 per cent estimate can also be exceeded, economists at the country's largest lender SBI said. "We expect Q1 FY24 GDP growth at 8.1 per cent with an upward bias due to the impact of Rs 2000 note withdrawal event...this reinforces our projection that FY24 GDP could be higher than 6.5 per cent, basis the RBI estimate," a note said.
Overcrowding, unsanitary conditions in Asia's largest slum pose big challenges to containment.
Ola has reported its first operating profit of Rs 89.82 crore for 2020-21, even as the ride-hailing company's revenue declined 65 per cent to Rs 689.61 crore amid COVID-19 induced lockdowns. As per regulatory documents filed by ANI Technologies - the parent company of Ola - it had logged standalone operating profit (profit before finance cost, depreciation, amortisation and tax (EBITDA)) of Rs 89.82 crore in FY21 on a standalone basis, while it had registered a loss of Rs 610.18 crore in the preceding fiscal year.
Modi said New Delhi has emphasised on dialogue and diplomacy along with restraint to deal with the situation arising out of the Hamas-Israel conflict.
With razor-sharp focus on deliveries and customer experience, powered by strong in-house technology built ground-up, Swiggy is emerging as the food ordering platform of choice.
Gupta's exit comes days after Zomato decided to stop its grocery delivery service from September 17, mainly due to gaps in order fulfilment, leading to poor customer experience.
Arguably the greatest slow left-arm bowler that the world has ever seen, Bishan Singh Bedi left an indelible impression in minds of many with a character to die for.
The year 2021 could turn out to be India's year of IPO with the domestic unicorns through their public issues setting "domestic stock markets on fire and global investors in a frenzy", an RBI article said on Tuesday. The successful Initial Public Offerings (IPOs) by new age companies in the recent months are a reflection of bullishness about Indian technology, it said. "...growth impulse is igniting financial markets. 2021 could well turn out to be India's year of the IPO.
The Jordanian-drafted resolution did not make any mention of the militant group Hamas, with the US expressing outrage at the "omission".
The turmoil, if you read the headlines, is about the so-called funding winter. Deep down, though, the question is one of the common direction in which founders and investors need to pull, points out Suveen Sinha.
From fast food and athleisure to ACs, the demand for several non-discretionary items has spiked since May 17, when Lockdown 4.0 was extended till May 31.
Find out about an emerging culinary profession where taste and aroma are not a criterion, where looks matter the most!
The ban prescribes Rs 5,000 fine for the first-time offenders and Rs 10,000 for the second-time offenders. Those who violate the ban for the third time will face a fine of Rs 25,000, along with a three-month imprisonment.
Rising prices of cereals and concerns over rice production in the 2023-2024 crop year due to insufficient rains followed by floods could be the possible causes.
The weekend curfew, aimed at breaking the chain of spiralling coronavirus infections, was clamped at 10 pm on Friday and will continue till 5 am on Monday.
If you have seen Zwigato, Param Kumar's story will sound familiar. Laid off from his job as a repairman at a Gurugram-based water purifier provider, he now delivers groceries and food for a mobile-based delivery app, in Delhi. Kumar, who started making deliveries last August, told Business Standard that he is working longer hours than his older salaried job as an RO repairman, and has no paid leaves or health insurance. Kumar is part of India's estimated 7.7 million-strong force of gig workers.
Ridlr will become a wholly-owned subsidiary of ANI Technologies, which owns Ola brand. Ridlr's team of 64 employees will now become a part of Ola.
Indian startups received about $6.5 billion in funding in the April-June 2021 quarter, while 11 of them entered the coveted unicorn club, a report by Nasscom-PGA Labs said. During the second quarter, 160 funding deals were closed -- up 2 per cent from the January-March period. "Q2 2021 has been impeccable for the start-up growth story. From being the most funded quarter, it has also added the most number of unicorns. "Standing tall during the pandemic second wave headwinds, Indian start-up ecosystem has shown a strong resilience in this quarter," the report said.
This tangled tale of good versus evil could have been far more intriguing, observes Mayur Sanap.
Mumbai's famous dabbawalas are reinventing themselves to meet the challenge posed by food delivery portals.
The Delhi government on Tuesday directed the closure of all private offices, except those in exempted categories, amid rising number of Covid-19 cases.
Foreign portfolio investors (FPIs) and mutual funds (MFs) have put in more money as anchor investors in initial public offerings (IPOs) in 2021 than any other year. FPIs' share of investments for the year stood at Rs 24,477 crore, nearly six times that put in last year and more than nine times the amount invested in 2019, the data from Prime Database showed. MFs have invested Rs 12,264 crore, four times than that invested last year and more than 10 times the investment in 2019. The total investment by FPIs and MFs put together this year is five times the amount invested last year. The amount contributed by MFs, however, is nearly half of that invested by FPIs.
Moody's Investors Service on Monday said it has assigned a first-time B3 corporate family rating (CFR) to ANI Technologies, which operates ride hailing service Ola. Moody's CFRs are opinions of a corporate family's ability to honour all of its financial obligations. It has also assigned a B3 rating to the company's proposed senior secured term loan.
'Our recipes come from our real-life experiences and have a story behind them.'
How sustainable and prudent is the policy of boosting services without commensurate growth in infrastructure in the relevant sectors, asksA K Bhattacharya.
Social e-commerce platform Meesho is set to disrupt the food and grocery market by offering free home delivery on all orders in over 200 below Tier 1 cities in a year's time, in the first phase. It is also disrupting the monetization model by focusing primarily on advertising revenues rather than commissions from sellers, as distinct from its competitors. The move is expected to challenge the big players in the sector which include Jio Mart, Tata's Big Basket, Amazon, Grofers, and others, many of which have minimum prices for free delivery.
The Global Hunger Index exaggerates the measure of hunger, lacks statistical vigour and has problems on multiple counts, Union Health Ministry sources said.
As 2022 readies to bid adieu, Sukanya Verma raises a toast to the 10 high points of the year.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
Besides growing tech and digital enhancements, the firms are ramping up the hiring of more delivery partners and reinforcing existing Covid protocols.
Mutual funds, as experts and custodians of another set of retail investors' savings, play a speculative game they are neither supposed to nor equipped to do, cautions Debashis Basu.
E-commerce companies managed to beat the odds by adopting a flexible approach in terms of transforming their business models and leveraging emerging technologies. They had to constantly align their objectives with evolving customer needs. With companies hiring thousands of temporary workers, expanding to smaller cities, and launching new products, e-commerce giants gird up to celebrate the peak festival season without Covid restrictions after a three-year time-out.
Start-ups don't care that mad-money funding comes to a hard stop after an IPO, observes Debashis Basu. As a listed entity, corporate actions have to take the interests of all shareholders, especially minority shareholders, into account. So far, we are not seeing any sign of it, observes Debashis Basu.
The Code on Social Security, 2020 gives a lot of comfort to gig firms which recognise cab drivers or food delivery executives as 'independent contractors' who directly do business with customers with the help of their digitised platforms.
Deputy CM Manish Sisodia says it's the 'biggest failure of our system'.
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.
Ramping up globally, the Indian restaurant search service is going as local as possible in its markets to improve its brand's stickiness.
'It is frustrating when you have to say 'No', but you are helpless when something is not available.'
Rozi Khan's uncanny resemblance to actor Peter Dinklage, who plays Tyrion Lannister in GOT, is winning the Internet.
Backed by China's Tencent and Prosus NV, Swiggy has around 8,000 employees.
