Author: Business Matters Editor

In a significant development reflecting the growing prominence of the electronic gaming (e-gaming) industry, a Group of Ministers (GoM) is set to convene its first meeting on December 15 to discuss and potentially formulate regulations for the e-gaming sector. This move comes at a time when the e-gaming industry is witnessing rapid growth, and regulatory frameworks are becoming essential to address various aspects, including consumer protection and responsible gaming. The GoM, comprising key officials and stakeholders, is expected to deliberate on a range of topics related to e-gaming, including licensing, age restrictions, advertising guidelines, and measures to ensure fair play.…

Uber has launched a new rewards programme for drivers in 12 Indian cities in an attempt to curb ride cancellations. The programme, called Uber Pro, will offer drivers a range of benefits, including higher earnings, access to exclusive discounts, and priority support. How Uber Pro Works To be eligible for Uber Pro, drivers must maintain a customer rating of 4.8 or above and have a low cancellation rate. Drivers will earn points for each trip they complete, and these points can be redeemed for rewards. The more points a driver earns, the higher their tier in the programme will be.…

In the ever-evolving landscape of retail, the significance of Black Friday remains unparalleled. Ecommerce and Direct-to-Consumer (D2C) brands are gearing up for a blockbuster shopping spree on this annual extravaganza. As consumer behavior continues to shift towards online shopping, businesses are implementing innovative strategies to make the most of this high-stakes shopping day. One of the key strategies employed by these brands is the utilization of advanced technology to enhance the shopping experience. Virtual reality (VR) and augmented reality (AR) are being leveraged to provide customers with immersive experiences, allowing them to virtually explore products before making a purchase. This…

The Indian government is contemplating the implementation of a ‘risk-based’ framework for age-gating on social media platforms. This move comes as part of a broader strategy to enhance child safety in the digital space and curb the potential adverse impacts of unrestricted access to certain content. Social media platforms have become integral to modern communication, providing a space for users of all ages to connect, share, and express themselves. However, concerns have been raised about the exposure of minors to inappropriate or harmful content on these platforms. To address these concerns, the government is exploring a risk-based approach to age-gating,…

As of my last knowledge update in January 2023, I don’t have specific information about the acquisition of Ambium by Wint Wealth backed by 3one4 Capital. Therefore, I’ll provide you with a general template and key points you can use to develop a 500-word article based on this hypothetical scenario. Title: Wint Wealth, Supported by 3one4 Capital, Expands NBFC Presence with Ambium Acquisition In a strategic move to strengthen its position in the Non-Banking Financial Company (NBFC) sector, Wint Wealth, a venture backed by 3one4 Capital, has recently announced the acquisition of Ambium, a significant player in the financial services…

In a recent development, Swiggy and Zomato, the giants of the food delivery industry in India, find themselves in a quandary as a fresh tax notice on delivery fees threatens to disrupt their financial equilibrium. This unforeseen tax challenge has sparked distress among the food delivery platforms, adding another layer of complexity to an industry already grappling with various operational challenges. The crux of the issue lies in the taxation of delivery fees charged by these platforms. The tax authorities have issued a notice questioning the taxability of these fees, asserting that they should be subject to Goods and Services…

SoftBank, the Japanese multinational conglomerate, is gearing up for a potentially substantial windfall in 2024 as it places a strategic bet on Swiggy’s anticipated $1 billion Initial Public Offering (IPO). This move marks a pivotal moment for SoftBank, underscoring its investment acumen in the ever-evolving landscape of tech-driven businesses. Swiggy’s Growth Trajectory: Swiggy, an Indian food delivery and technology platform, has experienced remarkable growth in recent years. With a robust market presence and a customer-centric approach, the company has become a key player in the highly competitive food delivery industry. SoftBank’s early investment in Swiggy reflects its confidence in the…

In a significant development for the fintech industry, Kiwi, a burgeoning startup, has successfully secured a funding round amounting to $13 million. The funds will primarily be allocated towards the expansion of their credit services on the Unified Payments Interface (UPI) platform. This injection of capital marks a crucial milestone for Kiwi, positioning the company to further revolutionize the digital lending landscape. Expansion Plans: Kiwi’s decision to focus on expanding its credit offerings on the UPI platform reflects a strategic move to tap into the rapidly growing digital payments ecosystem in India. The UPI, a real-time payment system developed by…

In a surprising turn of events, leading edtech platform PhysicsWallah has reportedly undergone a significant workforce restructuring, resulting in the layoff of around 120 employees. This unexpected move comes as a shock to many in the industry, as PhysicsWallah has been recognized as one of the prominent players in the edtech space. Background: PhysicsWallah, founded by renowned educator Alakh Pandey, has gained widespread popularity for its innovative approach to online education. The platform, known for its engaging content and quality teaching, has successfully attracted a large user base, earning the coveted “unicorn” status in the education technology sector. The Layoffs:…

In a pivotal move to propel the ‘Make in India’ initiative, the Indian government has granted approval to industry behemoths Dell, HP, and 25 other companies to participate in the Hardware Production-Linked Incentive (PLI) scheme. This landmark decision underscores the government’s commitment to fostering domestic manufacturing and achieving self-reliance, particularly in the hardware sector. The Hardware PLI scheme is a strategic initiative aimed at incentivizing companies to either establish or expand their manufacturing operations within India. Under this scheme, approved companies stand to receive financial incentives based on their incremental production of specified electronic components and devices. The primary objective…