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Day: January 2, 2024

New E-commerce Startup Alert! Binny Bansal’s “OppDoor” Focuses on Global Expansion Services

Binny Bansal, the co-founder of Flipkart, has launched a new venture named ‘OppDoor’, a platform designed to assist e-commerce companies in expanding their operations globally. This venture represents Bansal’s re-entry into the e-commerce space following his exit from Flipkart. OppDoor, previously known as Three State Ventures Pte Ltd, is registered in Singapore and was founded […]

Ordering In Gets More Expensive: ₹4 Zomato Platform Fee Adds Extra Bite to Bills

In a significant move, Zomato, a leading online food delivery platform, has announced an increase in its platform fee, raising it to ₹4 per order across key markets. This change, effective from January 1, 2024, represents a 33% hike from the previous fee of ₹3. The decision follows a series of fee adjustments that began […]

RBI Signals More Bank Dividends: Relaxed Norms on the Horizon

The Reserve Bank of India’s (RBI) proposal for new norms on dividend declaration by banks is a significant regulatory development in the Indian banking sector. The draft norms, which are open for comments until January 31, 2024, introduce several key changes and requirements that will affect how banks in India manage and distribute their profits. […]

Landmark Move: GST Dispute Resolution Gets a Boost with Principal Bench Notification

The Central Government of India has recently taken a significant step in the domain of Goods and Services Tax (GST) by establishing the Principal Bench of the Goods and Services Tax Appellate Tribunal (GSTAT) in New Delhi. This development, effective immediately from the date of publication in the official Gazette, marks a pivotal moment in […]

A Step Towards Equality: Women Employees’ Right to Nominate Children for Pension

The recent amendment to the Central Civil Services (Pension) Rules by the Government of India, enabling female government employees and pensioners to nominate their children over their husbands for the family pension in cases of marital discord, is a landmark decision. This modification represents a significant shift in recognizing the autonomy and rights of women […]

Unlocking Growth Potential: SOP for IEM Changes Empowers Entrepreneurs and Boosts Investment

In a significant move to enhance ease of doing business and transparency, the Department for Promotion of Industry and Internal Trade (DPIIT) has revamped its Industrial Entrepreneurs Memorandum (IEM) portal. This update, initiated in March 2021, introduces a streamlined, paperless process for the grant of IEM. The IEM is a mandatory filing for industrial undertakings […]

Short-Term Fix for FCI: Rs. 50,000 Crore Loan to Meet Funding Requirements

The Food Corporation of India (FCI) had planned to raise Rs 50,000 crore as short-term loans from banks to finance its operations due to the insufficient release of food subsidy expenses by the Centre. However, following the release of Rs 20,000 crore by the finance ministry towards food subsidy bills, FCI has deferred this plan. […]

RBI Statement: 97.38% of Rs 2,000 Notes Withdrawn, Remaining Notes Still Valid

The Reserve Bank of India (RBI) has confirmed that the Rs 2,000 banknotes continue to be legal tender despite the announcement of their withdrawal from circulation on May 19, 2023. This development comes amidst the central bank’s ongoing efforts to manage the country’s currency system. As of the latest update, approximately 97.38% of the Rs […]