The Reserve Bank of India (RBI) has announced the updated Foreign Exchange Management Regulations, 2024, to make it easier for startups to conduct business. The November 19 modifications open the door for the updated FX rules to incorporate the Department for Promotion of Industry and Internal Trade's (DPIIT)
Shri Sanjay Kumar Agarwal, Chairman, Central Board of Indirect Taxes and Customs (CBIC) along with Members of the CBIC Board inaugurated the GST & Customs Pavilion at the India International Trade Fair (IITF) 2024, in New Delhi, today. The theme of the GST & Customs Pavilion is "Facilitating Trade,
The National Payment Corporation of India (NPCI) has certified Phi Commerce, a fintech digital payment company, to provide UPI Switch to its business clients, mainly to maintain high transaction volumes. Phi Commerce will be able to onboard enterprise customers more quickly thanks to UPI Switch, which will cut down on
At the opening ceremony of the 55th International Film Festival of India (IFFI) in Goa on 21 November 2024, Chief Minister Dr. Pramod Sawant of Goa introduced "WAVES," the over-the-top platform of Prasar Bharati, the country's public broadcaster. Several dignitaries attended the event, including Secretary I&
Zomato, a prominent player in the foodtech industry, has cracked the whip and delisted several "potentially fraudulent" restaurants after consumers reported several single-dish restaurants on the platform. "We have removed all of these eateries from our site after identifying them as possibly fake. We have also looked
Deepinder Goyal, the CEO and co-founder of Zomato, posted an odd job opening on his social media pages on November 20. Goyal stated in his posts that he is seeking a chief of staff who will be required to pay INR 20 lakh instead of receiving a salary for the
The first-ever employee stock option plan (ESOP) buyback has been accomplished by SaaS marketplace NowPurchase. The business's founder and CEO, Naman Shah, told the media that 40 of its employees opted to cash out some of their vested stock options in the company through this repurchase option, while
To offer an alternative to commercial platforms, the Telangana Gig and Platform Workers Union (TGPWU) has demanded the creation of a government-run ride-hailing app. Additionally, it called on the government to establish a Welfare Board to provide equitable salaries, social security benefits, and open fare regulation, as well as to
Since more and more individual investors are participating in small and medium-sized business IPOs, the market regulator has suggested at least doubling the minimum subscription amount. In a consultation document published on 19 November by the Securities and Exchange Board of India (Sebi), the regulator suggested raising the minimum application
Swaminathan J, the deputy governor of the RBI, has urged banks to adhere to KYC regulations with "precision and empathy," failing which the central bank will take regulatory action against them. Speaking on 18 November to a Conference of Directors of Private Sector Banks, the Deputy Governor also
The operations of Sugar Cosmetics, a high-end beauty and personal care business, are being strengthened by Unicommerce, one of India's top e-commerce enablement SaaS platforms. Unicommerce is improving the brand's retail and e-commerce operations by unifying its entire technological stack, guaranteeing a smooth consumer experience across
American retail giant Walmart said on 19 November that its third-quarter foreign sales were boosted by Flipkart's 'Big Billion Days' sales event in India. Walmart, which uses a fiscal year that runs from February to January, recorded sales of $31.5 billion from its overseas division,