Business – TradenTalks

MoS Finance estimates that the Indian fintech business would be worth $150 billion by 2025

June 9, 2022 Administrator_IndiaBusiness, Finance, Fintech, India, News0 comment

According to Minister of State for Finance Pankaj Chaudhary, the rise of Indian fintech firms has been exponential, and the sector is predicted to reach a valuation of USD 150 billion by 2025. Chaudhary said fintech has emerged as one of India’s fastest-growing areas, attracting increased attention from all stakeholders, both within and beyond the nation, at a conference organised by industry association Assocham. “While the bulk of Indian fintech businesses is under a decade old, their success and growth over the last few years have been exponential.” By 2025,…

Business

BSE gets SEBI’s in-principle nod for gold spot exchange

February 10, 2022 Administrator_IndiaBSE, Gold, News, SEBI0 comment

The Securities and Exchange Board of India (SEBI) has given in-principle apporval to the BSE to commence trading in electronic gold receipts (EGR) on the exchange, the bourse said in a filing to the National Stock Exchange. “To seek final approval for the introduction of the EGR segment, we have been advised to submit additional information,” BSE said on February 9. The capital market regulator had in January notified the framework for the setting up of spot gold exchange, where the metal can be traded in electronic format through EGRs. The framework…

Business

Gold investment platform Jar raises $32 million led by Tiger Global

February 4, 2022 Administrator_IndiaGold Investment, News, World0 comment

Savings and investment management platform Jar has raised $32 million in a Series A funding round led by Tiger Global, the company has said . The round also saw participation from Rocketship.vc, Third Prime, Stonks, Force Ventures and existing investors including Arkam Ventures and WEH Ventures, the company said on February 3. Angel investors, including Klarna founder Victor Jacobsson, Suleman Ali of Ali Capital, Shamir Karkal, founder of Sila Money, Byron Ling of Cannan Partners, Joel John of Ledger Prime and Italic founder Jeremy Cai also participated in the round. “We…

Business

Kisan Drones to be used to technologically advance farming sector

February 1, 2022 Administrator_IndiaBudget, India, News0 comment

Finance Minister Nirmala Sitharaman in her Union Budget Speech for the upcoming fiscal year has announced that Kisan drones will be used to drive a wave of technology in the Agriculture and Farming Sector. These drones will be used for crop assessments, land records and spraying of insecticides.

Business

Google hit with 150 million euro French fine for cookie breaches

January 7, 2022January 7, 2022 Administrator_IndiaData, Facebook, Google, News0 comment

France’s data privacy watchdog CNIL said on Thursday it had fined Alphabet’s Google a record 150 million euros ($169 million) for making it difficult for internet users to refuse online trackers known as cookies. Meta Platforms’ Facebook was also fined 60 million euros for the same reason, the CNIL said. “The CNIL has found that the facebook.com, google.fr and youtube.com websites do not allow to refuse cookies as easily as it is to accept them”, the watchdog said in a statement, also citing Google’s video-streaming platform. The authority said the two companies had three months to…

Business

Apple puts India iPhone maker Foxconn on probation for labour violations

December 29, 2021 Administrator_IndiaFoxconn, IPhone, News0 comment

Apple Inc. put Foxconn Technology Group’s factory in southern India on probation following worker protests and an investigation that revealed substandard living conditions. Foxconn, which uses the facility to assemble iPhones among other gadgets, apologized for the lapses in health standards and pledged to revamp its management and operations in the country. The factory, located in Sriperumbudur on the outskirts of Chennai, was shut down after the protests and will resume operations once “necessary improvements” are made. Apple’s key assembly partner has grappled with labor issues in the past, particularly in China, where…

Business

Ola’s dream of world’s biggest e-scooter factory hits hurdle

December 24, 2021 Administrator_Indiaelectric scooter, Factory, Ola Electric Mobility0 comment

By Administrator_India Capital Sands Ola Electric Mobility Pvt., the Indian startup that’s pledged to build the world’s biggest electric scooter factory, doled out a handful of brightly-hued bikes earlier this month, complete with drummers and a saxophonist to mark the occasion. Founder Bhavish Aggarwal came to thank some 100 customers who brought along family and friends. But beyond the colorful proceedings, Ola isn’t living up to its lofty ambitions. Mass production of its e-scooters is likely to be pushed back until at least January, according to people familiar with its…

Business

AstraZeneca Pharma India gets DCGI nod to import

September 27, 2021 Administrator_IndiaAstraZeneca, DCGI, Pharma0 comment

By Administrator_ India Capital Sands Drug firm AstraZeneca Pharma India said it has received import and market permission from the Indian drug regulator for Selumetinib capsules. The company has received the import and market permission in Form CT-20 from the Drugs Controller General of India for Selumetinib 10 mg & 25 mg capsules, AstraZeneca Pharma India said in a regulatory filing. The receipt of this permission paves way for the launch of Selumetinib 10 mg & 25 mg capsules in India, subject to the receipt of related statutory approvals and licenses, it…

Business

Life insurers report 3% YoY growth in new business premiums in August

September 8, 2021 Administrator_IndiaInsurance, Life Insurance0 comment

By Administrator_ India Capital Sands After witnessing a double-digit contraction in new business premium (NBP) in July, life insurers are back in the green again, witnessing a marginal year-on-year (YoY) growth of 3 percent in NBP in August, owing to a strong performance by the private insurers. In July, life insurers reported an 11 percent YoY drop in NBP while in June they managed to report a 7.53 percent increase in NBP, following a dip in May due to the second wave of the pandemic. The life insurance industry reported NBP to the tune of Rs…

Business

Gold imports nearly double in August as prices dip ahead of festivals

September 7, 2021 Administrator_IndiaCOVID-19, Gold0 comment

By Administrator_ India Capital Sands India’s gold imports in August nearly doubled from a year earlier to the highest in five months on strong demand and as weaker prices prompted jewelers to ramp up purchases for the festive season, a government source said. Higher imports by the world’s second-biggest bullion consumer could support benchmark gold prices, which have corrected nearly 12% from an all-time high of $2,072 in August 2020. The surge in imports could increase India’s trade deficit and pressure the rupee. India imported 121 tonnes of gold in August, compared to…