2.85 lakh jobs created in DPIIT recognised startups: Piyush Goyal
As on November 21, 2019, SIDBI has committed Rs 3123.20 crore to 47 SEBI registered Alternative Investment Funds (AIFs). These funds have raised a corpus fund of Rs 25,728 Crore. “Rs 695.94 Crore have been drawn from the Fund of Funds for start-ups. Rs 2,669.83 Crore have been invested into 279 startups,” Union Commerce Minister Piyush Goyal said.
Maithri Aquatech’s water generators just need air to produce freshwater
Ever heard of generating fresh water from the air around us? Hyderaba...
Blume Ventures puts $1.5 million in TapChief
The startup plans to use the funds to expand its network of professionals, enhance its product o...
SoftBank takes loss in sale of Wag, dog-walking startup
Wag’s troubles have been particularly pronounced. After its investment, the Vision Fund brought in Hilary Schneider, former chief executive of LifeLock, to lead an aggressive expansion. But it lost ground to Rover, its top competitor. Reports of lost dogs and internal struggles hurt business.
Now, BoB lowers MCLR lending rates by 20 bps
The rate reduction comes even as the RBI left key policy rates unchanged at the last meeting on December 5. The city-based lender has reduced its one-year MCLR rates, which all retail loans are linked to, only marginally by 5 bps to 8.25 percent.
Edtech startup Lido Learning appoints new CTO
Lido Learning (Quality Tutorials) was launched in April 2019 by Sahil Sheth, offering live tutoring and personalised online coaching sessions to students from Class 5-9 in math and sciences from both CBSE and ICSE boards.
Consumer spending in slow lane, but retail credit sees 16.6% growth
Of the incremental retail loans disbursed by the banks in the year, a chunk was to buy pools or packages of loan receivables of non-banks.
ePharma startups ‘sensitive’ to data Bill definition
Firms seek better definition of ‘sensitive’ health data and guidelines for anonymised data in the Personal Data Protection Bill. The clause on ‘fair and responsible processing’ of data in the Bill also needs to be clarified and cannot be left open to interpretation.
Rein Games raises Rs 5 crore in angel funding
The business model aims at creating original concept-based real money games that are to be played for a stake in return for a platform fee.
Pune-based startup Squats acquires minority stake in Fitato
Squats was recently selected for Y Combinator, a US-based startup accelerator that has helped companies line Airbnb, Cleartax, Dropbox and others step up business operations.
World Bank to reduce lending to China
The bank, which is led by former US Treasury official David Malpass, defended its approach in a brief statement. "World Bank lending to China has fallen sharply and will continue to reduce as part of our agreement with all our shareholders including the United States. "We eliminate lending as countries get richer," it said.
EnKash looks to expand team size by end-2020
The startup is currently focusing on investing in its key leadership and building a rock-solid core team, as well as building a dedicated in-house technology team to further enhance data security and foolproof end-to-end processes across functions.
Bank of India cuts one-year MCLR rates by up to 20 bps
This makes the SBI rates the cheapest and this is the eighth consecutive lending rate reduction by the largest lender since the beginning of the fiscal.
On the grapevine: A startup boss keeps his dental game on point with glossing & flossing
The founder goes back to a dentist more often than necessary to get his teeth looked at.
Why the 'Father of the Pentium Chip' is bullish on image processing startup Orbo.ai
In the post compression era and with new improved hardware launching every month, video processing continued to remain stuck in low resolution status to save the bandwidth. Orbo looks to change that.
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