Start-Ups

Flipkart Leap: The Bengaluru-based e-commerce company said it will identify innovative startups to promote the startup ecosystem and support the government's Start-up India initiative.

WeWork's India franchise in May laid off 100 employees or 20 per cent of its workforce, joining a slew of firms that are cutting costs.

Ride-hailing service provider Ola on Wednesday announced that it will lay off 1,400 of its staff amid COVID-19 pandemic.

Food delivery company Swiggy said on Monday that it will lay off 1,100 employees over the next few days.

A group of the top venture firms, including U.S. groups Sequoia and Accel, warned start-ups this month that it will be "very difficult" to raise financing anytime soon.

The industry is facing major disruptions in the supply chain owing to the coronavirus outbreak amid weakness in consumption demand.

Flipkart's legal filing was aimed at signalling the company is aggrieved by the CCI's probe order, a person familiar with the matter said.

The edtech start-up said that it would utilise the funding to further penetrate into the test preparation categories, launching more exam categories.

Oyo has changed the way it calculates revenue, Rohit Kapoor, OYO's chief executive officer for India and South Asia, said on a conference call with reporters.

Raghu Krishnananda has led R&D teams in the US and India, in companies such as Yahoo, Goldman Sachs and Citibank.

The court on Friday granted a stay on the investigation for two months, according to a lawyer from law firm P&A Law Offices, which is representing Amazon.

"As a part of this, it has now been decided that scheduled commercial banks will be allowed to deduct the equivalent of incremental credit disbursed by them as retail loans for automobiles, residential housing and loans to micro, small and medium enterprises (MSMEs), over and above the outstanding level of credit to these segments as at the end of the fortnight ended January 31, 2020 from their net demand and time liabilities (NDTL) for maintenance of CRR," it said.

Observing that digital payments in the country have been growing rapidly, the RBI said it would make a digital payments index (DPI) available from July 2020.

During their formative years, start-ups generally use ESOP to attract and retain highly talented employees. ESOP are a significant component of compensation for these employees.

Mr Tata, who also invests in start-ups, also said old-age businesses will recede and the young founders of innovative companies are the future leaders of the Indian industry.