Representative image The government has decided to revisit a policy to regulate cab aggregators like Ola and Uber, and hold a “wider stakeholder consultation” before finalising it, officials said. The transport ministry, which had nearly finalised the policy towards the end of 2019, will spend more time on the policy. “Things were firmed up but […]

The Reserve Bank of India has taken yet another step towards opening the mandate of issuing and operating of new retail payment channels to private sector players. A draft framework detailing the eligibility and governance criteria of the proposed ‘new umbrella entities’ (NUE) along with scope of activities has now been issued by the central […]

The Reserve Bank of India (RBI) has prepared the ground for allowing competition to the National Payments Corporation of India (NPCI) to come up through private investments, which could include for-profit companies. The minimum capital requirement has been fixed at Rs 500 crore. The new entity will set up, manage and operate new payments systems, […]

Illustration: Rahul Awasthi Internet companies may need to set automated filters only for content related to child pornography in thedraft rules for technology intermediaries, which are expected to be notified in the next few weeks. The Ministry of Electronics and IT (MeitY), in its latest draft sent to the law ministry for vetting, had proposed […]

Deep Kalra, group chief executive of Nasdaq-listed MakeMyTrip, has stepped down, with co-founder Rajesh Magow, who was heading its India business, taking over Kalra’s role. Kalra, a St Stephen’s College and IIM-Ahmedabad alum, will now serve as executive chairman, the company said in a statement. “(Kalra) will devote his full time to pursuing strategic initiatives, […]

Google India has launched a public outreach campaign termed #PehleSafety in order to build awareness around best practices for staying safe online in the country. India is going through a massive boom in its Internet consumption with over 400 million Internet users driven by cheap smartphone penetration in the country. The campaign which will juxtapose […]

Like their counterparts in Silicon Valley, China’s largest tech companies struggled to prove online groceries can be a viable business. Then the novel coronavirus struck. Its spread has extended a lifeline to a slew of money-burning businesses — many backed by big name venture capital funds and tech giants from Alibaba Group Holding Ltd. to […]

Brandless , a direct-to-consumer personal care and packaged goods company, is closing down. Brandless will stop taking orders and cut about 70 employees, less than two years after SoftBank Group Corp.’s Vision Fund said it would invest $240 million in the startup. “I’m proud of what we created at Brandless,” Interim Chief Executive Officer Evan […]

Illustration: Rahul Awasthi Ride hailing company Uber plans to set up a 100-member global fintech team in Hyderabad, the first such in the Asia-Pacific region. The Uber Money global financial services and products team is already present in San Francisco, Palo Alto, New York and Amsterdam. The Hyderabad-based team will work on global features and […]

A U.S. judge on Monday rejected a request by Uber Technologies Inc and courier services provider Postmates Inc to block a California labor law from taking effect, saying the bill’s public benefits outweighed the companies’ concerns. U.S. District Judge Dolly Gee in Los Angeles said that while the companies had proven they could suffer a […]