Manish Singh
The Reserve Bank of India is discussing more penalties on Paytm Payments Bank and may reach a decision within days, two sources familiar with the matter told TechCrunch.
The central bank has internally discussed revoking the payments bank license of Paytm, the sources said, requesting anonymity as they are not...
Reliance-backed Viacom18 has reached an agreement to buy 60% of Disney’s India unit, WSJ reported Thursday citing unnamed sources, creating a pathway for the Indian conglomerate to form a $10 billion media giant in the South Asian market.
The deal, which WSJ says will close this month, values Disney’s India...
Paytm said Thursday that it will cease work with its associate Paytm Payments Bank and accelerate plans to partner with other banks, after India’s central bank barred Paytm Payments Bank from conducting nearly all of its business activities due to supervisory concerns.
The Noida-based financial services firm said it expects...
The Reserve Bank of India has directed Paytm’s Payments Bank to cease deposits, credit transactions and top-ups in customer accounts, prepaid instruments and wallets after February 29 in new strict penalties after the central bank found the firm to be in non-compliance with an earlier embargo.
Wednesday’s move follows the...
Accel, an early investor in Indian e-commerce giants Flipkart and Myntra, is preparing a new fashion e-commerce bet in India even as competition intensifies with the recent expansion of Mukesh Ambani’s Ajio platform.
Accel is in advanced talks to lead a $15-20 million funding round into Newme, an Indian fast-fashion...
Fidelity has cut the value of its holding in Meesho by 33.6% since the original investment, giving the Indian social commerce startup a valuation of $3.5 billion, adjusted for outstanding shares.
The U.S. asset manager valued its holding in Meesho at $27.8 million at December’s end, down from the $41.9...
Byju’s, the world’s most valuable edtech startup, has cut its valuation ask to $250 million in a rights issue it launched Monday as the Indian firm works to address its working capital needs. The startup is looking to raise $200 million in the rights issue, a capital it said...
Flipkart co-founder Binny Bansal has resigned from the e-commerce group’s board, the two said Saturday. Sachin Bansal, the Bengaluru-headquartered startup’s other co-founder, left the board in 2018 after scuffle with the investors.
Binny Bansal, who reserved the rights to stay on Flipkart’s board for as long as he preferred, cited...
Krutrim, an AI startup founded by Ola founder Bhavish Aggarwal, said it has raised a funding round that values it at $1 billion. The startup, founded last year, is the fastest to become a unicorn in India, it claimed in a press statement. It’s also the first Indian AI...
Indian food delivery startup Swiggy is cutting about 400 jobs, or nearly 7% of its workforce, as the startup seeks to bring further improvements to its finances ahead of a planned IPO later this year.
This is the second round of layoff at the Bengaluru-headquartered startup, which cut just as...
