kotak mahindra bank

Walmart-owned payments company PhonePe Wednesday launched its mobile app marketplace Indus Appstore for users, in an attempt to rival Google Play Store and Apple App Store.Sameer Nigam, CEO and founder PhonePe said, “Indus Appstore challenges the status quo, ushering in an era of more healthy competition in the mobile app marketplace, which in turn should help create a more democratic and vibrant Indian digital ecosystem.”Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM KozhikodeIIMK…

As the domestic regulatory environment gets heated, Cred cofounder Kunal Shah said that India continues to have a regulator which is innovating much faster than the fintech companies in the market. Shah was speaking at The Economic Times CEO Roundtable in Mumbai, as part of a panel that included top industry leaders such as Tata Sons chairman N Chandrasekaran, Kotak Mahindra Bank founder Uday Kotak, Arundhati Bhattacharya, CEO, Salesforce India, Prabha Narasimhan, CEO of Colgate-Palmolive India, Rishad Premji, chairman of…

Electric scooter maker Ola Electric is set to file its Draft Red Herring Prospectus (DRHP) by next week as it prepares for an initial public offering (IPO). The DRHP, filed to the market regulator Securities and Exchange Board of India (SEBI), is a preliminary offer that introduces a firm that is looking to list its shares publicly to potential investors in the market. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Digital TransformationVisitIndian School…

Within a year of raising high-cost debt from Goldman Sachs, India’s largest online pharmacy platform PharmEasy has breached its loan covenant terms after failing to raise equity, people aware of the development said.As per the terms, the company was supposed to raise equity of around Rs 1,000 crore, or about $120 million, linked to its burn rate velocity. It has failed to do that after trying for a year and postponing its initial public offering (IPO).However, PharmEasy has not defaulted on any of its payment obligations…

Image Source : GOOGLE PAY Google Pay introduces new RuPay Credit Card support on UPI: How to use? Google Pay has collaborated with the National Payments Corporation of India (NPCI) to enable the integration of RuPay credit cards with the Unified Payments Interface (UPI). Now, users have the option to link their RuPay credit cards with Google Pay, allowing them to…

Online pharmacy PharmEasy recorded a positive ebitda in April of around Rs 14 crore for the first time since inception with a net revenue of Rs 600 crore, according to people briefed on its latest financials.On the back of hitting operating profitability, the Mumbai-based epharmacy platform’s parent API Holdings is engaging with existing investor Canada’s CDPQ as well as Abu Dhabi’s ADQ for a new round of funding. Estimated at a potential $50-100 million, it may take place through convertible notes, people aware of the…

Card payments major Visa has paused its single-click checkout service in India amid the Reserve Bank of India’s attempts to make digital payments safer for customers. This and more in today’s ETtech’s Morning Dispatch.Also in this letter:■ Efficiency, cost optimisation in focus in FY24: HCLTech CEO■ The ‘great reset’ for Indian SaaS is here■ Govt working to clamp down on ponzi apps: FM SitharamanVisa pauses single-click checkout for Indian ecommerceCard payments company Visa has paused its single-click checkout service…

Until early in 2022, ecommerce startup Meesho was burning around $40 million a month in cash as it took on bigger rivals Amazon India and Walmart-owned Flipkart. As the etailer cuts its spends, growth has slowed down. Today we take a closer look at the company’s numbers and analyse its strategy. This and more in today’s edition of the ETtech Morning Dispatch.Also in this letter:■ Startup employees bear the brunt of funding winter■ Experts alarmed by surge in fake ChatGPT domains, extensions■ OCI’s Chris Chelliah on AI…

It took just a few days for Silicon Valley Bank from being one of the most sought-after financial institutions among startup founders and the tech community to bring shut down by US regulators.The crisis impacted Indian startups like cross-border SaaS firms and Y Combinator’s portfolio firms.Here are the top stories from the week to understand how the fallout of the bank affected the domestic startup ecosystem. Startups on the lookout for ways to move funds from SVBStartups with funds in SVB are finalising ways to…

After a tense weekend, some relief came for Indian startups after US regulators said depositors with Silicon Valley Bank (SVB) will have access to all their money starting Monday. However, these startups are now looking for ways to withdraw their funds from SVB and transfer it to other banks.This and more in today’s ETtech Morning Dispatch.Also in this letter: ■ Infosys top level exits concerning but long-term stability expected, say analysts■ IT services growth no longer linked to US economy, McKinsey leaders say■…