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Eternal, the parent company of Zomato, is limiting foreign ownership to 49.5%. This decision aims to maintain control and ensure compliance with regulatory frameworks. The company emphasizes its commitment to ethical reporting and transparency regarding potential conflicts of interest in its coverage.
Electronics Minister Vaishnaw announced the upcoming launch of a new scheme aimed at enhancing domestic production, creating jobs, and reducing import dependency during the inauguration of VVDN’s Surface Mount Technology Line and Mechanical Innovation Park in Manesar. He highlighted that the sector has already generated nearly 25 lakh jobs.
Vivek Tiwari, the former CEO of Medikabazaar, has denied allegations of financial fraud, asserting they are misleading. The claims arise from an investigation into the company’s alleged overstatement of FY23 revenue by over 50%, initiated after concerns from PwC. Medikabazaar faces legal challenges, including a claim from investors for ₹278.7 crore due to financial misreporting. This situation underscores broader governance issues in India's startup ecosystem, where rapid growth often outpaces accountability, leading to ethical lapses in financial reporting.
The National Payments Corporation of India (NPCI) is exploring the introduction of UPI Meta, a tool designed to enhance the digital payment experience for online shopping. This feature would allow users to securely store their preferred UPI ID on e-commerce platforms, streamlining the checkout process by eliminating the need to manually enter details for each transaction.While UPI Meta aims to make payments faster and more convenient, concerns have been raised about market concentration, as dominant players like PhonePe and Google Pay could gain an early advantage. To address this, NPCI is recommending that merchants obtain explicit user consent whenever a new payment gateway is added, ensuring fair competition.
Imarticus Learning, an Indian edtech startup, plans to file a draft red herring prospectus for an IPO aiming to raise ₹750 crore (approximately $8.8 million) in the next 4-5 months. The company, profitable for 7-8 years, reported a 25% YoY revenue increase to ₹205 crore ($24.01 million) in FY25, focusing on finance, data analytics, and business management courses. With a unique customer acquisition strategy that relies on offline channels, Imarticus has maintained sustainable growth while forming partnerships with prestigious institutions to offer industry-recognized credentials.
Saudi Arabia is rapidly evolving into a technology hub, driven by its Vision 2030 goals and initiatives like Project Transcendence, a $100 billion AI ecosystem partnership with Google. The Kingdom aims to foster local innovation, reduce reliance on foreign tech, and strengthen its startup ecosystem, while addressing challenges such as talent acquisition and digital transformation costs for SMEs. The annual LEAP conference highlights Saudi Arabia's growing appeal in the global tech landscape, attracting significant investments and showcasing its commitment to becoming a leader in AI and deep tech.
The Finance Ministry has clarified that there are no plans to impose GST on UPI transactions exceeding ₹2,000, dismissing recent media claims as false. Currently, UPI transactions remain tax-free due to the exemption from the merchant discount rate (MDR) since January 2020, promoting digital payments. Despite UPI's widespread adoption, concerns about its long-term viability persist, with industry players advocating for a reconsideration of the zero-MDR policy.
Eternal's board has approved a plan to limit foreign ownership in Blinkit to 49.5%. This decision reflects a strategic move to maintain control while navigating the complexities of foreign investment regulations. The company remains committed to ethical reporting and transparency in its operations.
Zepto Ad Vertical has achieved remarkable growth, with its annual recurring revenue (ARR) increasing fivefold within a year, as reported by Aadit Palicha. The organization emphasizes its commitment to ethical reporting and transparency, assuring readers of its impartiality despite potential conflicts of interest with featured investors.
Xpressbees reported an 11% increase in losses, reaching INR 200 crore for FY24. The company emphasizes its commitment to ethical reporting and transparency, assuring readers that potential conflicts of interest will not compromise the integrity of its coverage.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Zomato parent limits foreign ownership to ensure strategic control and stability
10:32 19.04.2025
new electronics component scheme to enhance production and create jobs
10:15 19.04.2025
former ceo of medikabazaar denies fraud allegations amid scrutiny and challenges
09:20 19.04.2025
NPCI explores UPI Meta to streamline digital payment experiences for users
09:06 19.04.2025
Imarticus Learning plans 8.8 million IPO amid strong growth and profitability
08:21 19.04.2025
saudi arabia aims to become a global technology hub by 2030
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08:19 19.04.2025
government denies gst on upi transactions amid rising digital payment concerns
07:11 19.04.2025
Eternal's board approves foreign ownership cap at 49.5 percent
06:52 19.04.2025
Zepto Ad Vertical reports fivefold growth in annual recurring revenue
06:01 19.04.2025
Xpressbees reports 11 percent increase in losses to 200 crore in FY24
05:59 19.04.2025
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