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Manish Singh

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Microsoft, Amazon and Meta are among the top brands whose apps are listed on the Indian fintech PhonePe’s Indus Appstore, an Android app store launched Wednesday in challenge to Google’s monopoly in its largest market by users. To fight Google Play Store, PhonePe has armed Indus Appstore with a range...
Amazon is preparing to make another attempt to break into India’s fast-growing fashion and lifestyle e-commerce sector, setting up a battle with rival Flipkart, owned by Walmart, Reliance’s Ajio and SoftBank-backed upstart Meesho. The e-commerce giant plans to launch a “special store,” called Bazaar, where it will not levy any...
Byju’s says its recently launched $200 million rights issue has been fully-subscribed, but the startup’s founder urged some of its major investors to participate amid a rift between the edtech group and some of its largest shareholders. The Bengaluru-headquartered startup, valued at $22 billion in its last financing round in...
Over 150 investors, including Singapore’s sovereign fund Temasek and Malaysia’s Khazanah, gathered at Mumbai’s five-star Trident Oberoi hotel on a recent Friday for venture firm Lightspeed India Partners’ “Lift Off” summit. The two-day event aims to spark partnerships by enabling “in a short window, many views, ideas and investments to...
India’s central bank extended the deadline for some of the business restrictions it’s imposing on Paytm’s Payments Bank to March 15 from February 29, giving the Indian financial services firm an additional 15 days to comply with the rules but squashing chances of any major concessions. The Reserve Bank of...
India is facing a quandary in enforcing long-delayed rules to curb the dominance of PhonePe and Google Pay in the country’s ubiquitous UPI payments network, which processes over 10 billion transactions monthly. The National Payments Corporation of India (NPCI), a special unit of the central bank, wants to cap market...
Macquarie dramatically cut its 12-month price target on One97 Communications Ltd., the parent company of digital payments firm Paytm, citing heightened regulatory scrutiny. Macquarie, which predicted the slump at Paytm before the listing, lowered its target to 275 rupees, the most brutal by any major brokerage firm. Paytm, which ended...
Peak XV, the venture capital firm that split from Sequoia Capital last year, is taking its portfolio companies from India, Southeast Asia and Australia on an “immersion” trip to Silicon Valley this week to meet several industry titans, the latest in the venture firm’s broadening offerings and networking flex. About...
An Indian parliamentary panel has urged the government to support the growth of domestic fintech players that can provide alternatives to the Walmart-backed PhonePe and Google Pay apps that currently command more than 83% of the country’s fast-growing digital payments market. The 58-page report, which includes a series of recommendations,...
India’s central bank said Thursday it takes supervisory actions and imposes business restrictions only after “persistent non-compliance” with rules, its first comment after a clampdown on Paytm last week has posed existential questions about the future of the leading financial services firm. Shaktikanta Das, the Reserve Bank of India governor,...