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#Govt Approves Amazon’s $500 Mn FDI Proposal In Food Retail; Sector All Set To Face Stiff Competition!

Since 2014, Amazon India had expressed their desire to grab a share of the lucrative yet hyper-competitive food retail market in India. Last year, they launched Amazon Now, a hyper-local delivery service in Bangalore, which was basically a partnership with Big Bazaar, Reliance Fresh, Godrej Nature’s Basket, BPCL In & Out, Food World and Good Food for delivering groceries and food items. However, the objective was to gain experience and insights into the food retail business, which Amazon desperately wanted to crack. Even as Amazon Now was expanded to Delhi, Mumbai, and they pledged investment…

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#Zero Liability For Customers in Case of Fraud Online Transactions, Except For Customer Negligence

Twice in the 2 months, Reserve Bank of India (RBI) has taken a proactive approach in dealing with fraud bank transactions via online medium. On June 1st, RBI had declared that Rs 5000 shall be the maximum liability for consumers in the case of bank transactions fraud. But now, RBI has issued a new notification wherein consumers have been empowered, even more, providing them with an extra safety net in case of bank transactions fraud. And the news is good for all bank customers but bad for banks. Zero Liability For Consumer…

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#Now it is Mandatory to provide Expiry Date, MRP by Law for Every Product Sold Online

A few months back, Food Safety and Standards Authority of India conducted a survey among consumers at LocalCircles, an online citizen engagement platform, regarding the quality of products sold online. Whooping 98% of 7000 people surveyed informed that products bought online are those whose expiry dates are very near, or are already expired. This is, of course, wrong on so many counts. Yatish Rajawat, chief strategy officer at LocalCircles, asked a very logical question: “How do marketplaces manage to sell expensive and imported olive oil at a discount? These are…

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#Google Launches ‘Google Hire’ Job Portal; Will It Spy on Applicant’s Search History?

Google is a smart Internet company, and once again, they prove this fact, via Google Hire. Google’s newest and most talked about the project right now is Google Hire, which has been hailed as the ‘Holy Grail’ of all job portals. And, in a smart move, Google has converted their own internal ‘Applicant Tracking System’ (ATS) into a public platform for all. LinkedIn’s dominance in the job market, along with other major players such as Seek, Monster and Indeed are observing the developments very closely. Officially, Google Hire hasn’t been launched…

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#Flipkart Raises Whopping $1.4 Billion Funding With $11.6B Valuation; Acquires Ebay!

The new fiscal year starting from April is proving to be a crucial year for Indian e-commerce industry. The first shot of fireworks has just been ignited, as Flipkart, India’s largest e-commerce portal, has announced a major news. The biggest news is that Flipkart has raised $1.4 billion from three major investors: Tencent, Microsoft and Ebay; and this is Flipkart’s largest ever fundraising in their last 10 years of existence. And the most significant news is that Flipkart has acquired Ebay India, thereby cementing their position strongly, and directly challenging…

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#BSNL to Declare 4 Mbps As Minimum Download Speed For All Broadband Plans; Can It Set A New Precedent?

State-run BSNL is all set to again re-define Internet broadband speed in India. As per reports emerging from Kerala, BSNL may soon declare 4 Mbps as the minimum download speed for every broadband plan. Last time BSNL redefined Internet speed was in 2015 when it made 2 Mbps as the minimum broadband download speed for all of their broadband plans. The news becomes viral, and BSNL is rumoured to have attracted a new generation of Internet users due to this standardisation of Internet speed. Now, armed with minimum 4 Mbps speed, BSNL…

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#Snapdeal CEO Kunal Bahl & 11 Other Employees Booked In a Cheating Case!

While Softbank is pushing hard to sell Snapdeal to Flipkart, a shocker has come its way. An FIR has been registered against Jasper InfoTech Pvt Ltd and Snapdeal employees by a city court have directed the registration under a cheating case. The investigation report is against the Co-founder of Snapdeal, Kunal Bahl and its 11 other executives. The city magistrate has issued summons to all the parties to appear at the court before May 27. The court was acting on a private complaint filed by Dream Merchants, a Bangalore-based event Management…

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#Snapdeal’s Bad Luck: Softbank Refuses To Invest Funds; Kalaari Capital, Nexus Venture Partners Question Softbank’s Motives

Snapdeal, which is right now going through a rough patch, has now more reasons to worry. A possible infusion of $100-150 million by Softbank has been cancelled, thereby making the fate of Snapdeal even more doubtful. And an intense boardroom battle has been triggered, between majority stakeholder Softbank which backed off from the funding and Snapdeal’s early investors Kalaari Capital and Nexus Venture Partners. Snapdeal is now stuck in a deadlock, and there seems no way out. Softbank Refuses To Infuse More Funds Into Snapdeal Everyone knows that funds within…

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#Aadhaar Is Now Mandatory For Google Searches, Facebook Likes & Tinder Swipes

In one of the biggest social push for Aadhaar, some of the biggest Internet companies have announced that their users need to link their Aadhaar cards with their accounts. Prominent among them are Google, Facebook and Tinder. There are some smaller, niche websites as well, such as those dealing with torrents, but we are yet to validate their claims. After linking of Aadhaar with PAN Card, filing income tax, starting a business and driving license, this is seen as one of the biggest Aadhaar linked projects. Analysts are saying that Govt. has forced these mega-portals…

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#Bengaluru Startup Techies Are Least Paid In Entire World; City Gets Featured Among Top 20 Startup Cities

Bengaluru, often hailed as the Silicon Valley of India, has emerged as startup capital of India as well, there is a bad news: techies working in Bengaluru are among the lowest paid, not only in India but in the entire world. These findings were revealed by a report on global startups by Startup Genome, which analyses the state of startup across 50+ cities globally. In their annual report, Bengaluru has been featured among the top 20 startup cities, globally, and is the only city from India to get featured on this…

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