Amazon's new "Bazaar" store in India offers affordable and trendy fashion and lifestyle products, intensifying competition against rivals Flipkart and Ajio, owned by Walmart and Reliance respectively, in the fast-fashion market.
During its Series B financing round, which was spearheaded by UK-based LeapFrog Investments and backed by Indian investment firm Aavishkaar Capital, Electronica Finance Limited (EFL) has raised $48 million.
A new type of cryptocurrency fraud is being witnessed by Indian cryptocurrency investors, in which dishonest individuals pose as job recruiters and deceive their potential candidates—or victims in this case.
The creator of the troubled edtech startup Byju's, Byju Raveendran, has made a desperate effort to appease the company's irate investors, which include Prosus Ventures. Before approving a recent rights issue that reduces the Indian startup's valuation by 99%, the board of the firm is considering an offer of renounced shares, which are shares that a number of investors recently decided not to purchase in protest. This is being done to avoid diluting the investors' ownership.
Compared to $189.91 million at the end of February, the top three exchanges—WazirX, CoinDCX, and Zebpay—have jointly exceeded $584 million in trade volumes in March.
As per a Business Standard story, Yenmo, a FinTech firm offering fast loans against mutual funds, has effectively concluded its most recent investment round, having secured $500,000 from Y Combinator, a Silicon Valley-based startup incubator.
To introduce India's first wearable payment tokenization solution, Canadian paytech Tappy Technologies and French IT company Thales have teamed together with leading Indian bank IndusInd Bank.
Despite the considerable spike in Bitcoin values, which resulted in a large boost in demand for cryptocurrency exchanges and a substantial jump in trading volumes, industry insiders have voiced concerns over India's hefty crypto tax.
The Enforcement Directorate (ED) has filed a charge sheet under the anti-money laundering law against 299 companies, including persons of Chinese descent, marking a significant milestone in its continuing investigation into a cryptocurrency scheme.
The Financial Intelligence Unit (FIU) of India has said that it has fined Paytm Payments Bank around USD 662,565 in total.
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