BUSINESS
BYJU's set to close $250 mn funding round soon at a lower valuation
BYJU's declined to immediately comment on the development. However, the $250 million round comes at a lower valuation and according to sources, it cannot be at a "flat valuation" and this is why the edtech company is unable to raise funds it was widely expected to (to the tune of $500 million as reported earlier).
Sitharaman to meet public sector banks chiefs on March 25
This would be the first meeting of the Finance Minister with banks' chiefs after the presentation of the budget, where, according to sources, the discussion is likely to be on the areas highlighted by the budget. Sitharaman is also likely to review the credit flow to key sectors like agriculture, sources in the know of things said.
Cash use decline as UPI to drive India's e-com market to reach $150 bn in 2026
UPI recorded the biggest year-on-year growth of 74.1 per cent in transaction volume as of January 2023 and digital wallets grew from 5 per cent in 2019 to 35 per cent of POS value in 2022 stimulated by UPI, according to the '2023 Global Payments Report' by global financial technology leader FIS. With cash use declining from 71 per cent.
Indian-origin Rahul Roy Chowdhury to be new CEO of Grammarly
In a tweet, Chowdhury expressed his deep belief in the company's mission to improve lives by improving communication. Chowdhury said he joined Grammarly two years ago with this mission in mind, and he is honored to serve it as the company's CEO. I joined @Grammarly two years ago because of a deep belief in our mission.
German economy to grow 0.2% in 2023: GCEE
The short-term outlook has "improved slightly" due to a stabilised energy supply situation and lower wholesale prices, according to the experts. In its previous forecast published last autumn, the council said that the German economy would shrink 0.2 per cent this year. "The loss of purchasing power due to inflation, tighter financing conditions and the slow recovery of foreign demand prevent a stronger upswing this year and next," GCEE Chair Monika Schnitzer said in a statement.
US Fed, undaunted by recent banking problems, raises interest rate
The Fed did address concerns about the banking system in a statement. "The US banking system is sound and resilient," it said. "Recent developments are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring, and inflation. The extent of these effects is uncertain."
Indo-Pacific economic framework for prosperity to deepen development: India
On the sidelines of the negotiating round (which were held between March 13 and March 19), India's chief negotiator and other representatives also held bilateral meetings with IPEF countries and other stakeholders concerned. During the Bali Round, discussions were held on all the four pillars of the IPEF namely trade, supply chains.
Airport Express Line Metro operational speed up from 90 to 100 kmph
The total travel time between New Delhi Airport Line to Dwarka Sector-21 Metro stations after the current increase in the operational speed of metro trains on the AEL will be around 21 minutes. Further, the travel time on the AEL will be reduced to 19 minutes only, after the maximum speed limit of 120 kmph is implemented in future.
Oppo mobiles Maharashtra manager nabbed for Rs 19cr GST fraud
The CGST sleuths swooped on the Oppo office and presented the Manager, identified as Mahendra Kumar Rawat, before a court which remanded him to judicial custody till April 3. Rawat has been charged under CGST Act, 2017 Section 69 and 132 based on his confessions pertaining to committing the irregularities.
IT Dept launches app for viewing annual info statement, taxpayer info summary
The app is called 'AIS for Taxpayer', which will be provided free of cost by the Income Tax Department and is available on Google Play and App Store. It will provide a comprehensive view of the AIS and TIS to the taxpayer, which displays the information collected from various sources pertaining to the taxpayer.
Don't Miss
Advertisement