India, say hello to GST! Biggest-ever tax reform comes into effect

Eustan Ventures

With a gong sound at midnight in Parliament’s Central Hall, India switched to GST, the single biggest tax reform undertaken by the country in 70 years of independence. Launching GST, President Pranab Mukherjee said it is a momentous event for the nation. "This historic moment is the culmination of 14-year-long journey that began in December, 2002," he said. Touting it…

As India goes cashless, Israeli fintech firms Come Calling

As India goes cashless, Israeli fintech firms come calling - eustan ventures

As India moves for greater digitisation, Israeli financial technology companies are seeking a pie of the growing market in the country. They are exploring collaborations and partnerships with Indian companies and banks looking for digital-age solutions for their respective businesses. Nimrod Assouline, deputy chief of mission, Consulate General of Israel, told DNA Money, "We already have good collaborations in India…

Paytm said to seek RBI licence to offer money market fund

Bengaluru: Paytm, run by One97 Communications Pvt. Ltd is seeking a licence from the Reserve Bank of India (RBI) to set up a money market fund where users can store cash and earn interest, in competition with banks, according to a person familiar with the matter. Paytm has applied to RBI to start the fund and increase its offerings to…

Cabinet Likely to Set up Rs. 2,000 crore Startup Fund by July

The Union Cabinet is likely to set up a Rs 2,000-crore credit guarantee fund by July-end with a view to provide funding facilities to startups as per the report by India Today. The secretary of the department of industrial policy and promotion (DIPP), Ramesh Abhishek, said the fund would be used to lend to startups without any collateral. He said…

Ola raised $50m from NY hedge fund

Indian top Cab aggregator Ola has reportedly picked up about $50 Mn funding from hedge fund Tekne Capital Management, as an extension of its ongoing round. The New York-based investment firm has infused less than $50 million in the company as part of its ongoing round, which has also seen participation from Ratan Tata’s venture fund RNT Capital Advisors and…

Uber gets perpetual injunction against striking unions in Delhi

A section of drivers for Ola and Uber are on protest again on Tuesday in the Delhi NCR region. The Sarvodaya Driver Association of Delhi and the Rajdhani Tourist Drivers Union claimed that more than 1 lakh drivers would strike protesting for a single day against the low earnings because of the companies policies, as indicated by this Economic Times…

Alibaba Group acquires majority stake in Chennai-based Ticket New

Alibaba Groups flagship entertainment arm, Alibaba Pictures Group Limited, has acquired a majority stake in India's second-largest online ticketing platform, TicketNew. Marking Alibaba Pictures first big acquisition in the burgeoning online ticketing industry outside of China, this strategic partnership will strengthen TicketNews operations and service portfolio. Founded in 2007 by Ramkumar Nammalvar, TicketNew is a Chennai-based ticketing website that has…

Indian Start-ups Get a New Definition Under ‘Start-up & Stand-up India’ Initiative

Indian Start-ups Get a New Definition Under 'Start-up & Stand-up India' Initiative Eustan Ventures

The Narendra Modi Government has recently modified the definition of ‘start-up’, under its ‘Start-up and Stand-up India’ initiative to accommodate businesses that are seven years old, thus making them eligible for government-sponsored funding, tax and other benefits. Earlier, start-ups active for maximum five years were selected for the scheme. With the unified tax structure, Goods and Services Tax (GST), rolling…

Sicap ventures into Indian market, opens R&D centre in Kolkata

Sicap ventures into Indian market, opens R&D centre in Kolkata -Eustan-ventures

Sicap, a Switzerland-based global mobile network software solutions provider on Wednesday announced the opening of a Global Development and Support Centre (GDSC) in Kolkata, as part of the company?s expansion plan in the Indian market, hailed as one of the fastest growing telecom markets in the world. Sicap international teams are working closely in nine locations including India to ensure…

How Uber & Ola are turning out to be a boon for the Indian Railways

BENGALURU: Taxi-hailing companies such as Ola and Uber are turning out to be a boon for the Indian Railways, snapping up parking spaces at railway stations in various cities at rates far higher than those paid by contractors and other taxi operators. In a recently concluded deal for the stations in Bengaluru division, the railways has allocated parking space for…

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