Coronavirus: Flipkart Puts Staff Under Mandatory Work From Home For 3 Days

Coronavirus: Flipkart Puts Staff Under Mandatory Work From Home For 3 Days

As concerns around the coronavirus outbreak grow, India’s tech companies are taking stronger measures to prevent it from spreading. Flipkart has made it mandatory for all the staff in its largest Bangalore campus to work from home for three days starting Wednesday, Times of India reports. All the 8,000-10,000 staff at its Bellandur campus will be working from home as a part of a “dry run” of its day-to-day operations. In a memo to its staff,…

Softbank’s Stock Falls The Most In 7 Years Over Coronavirus Fears, Earnings Results

Softbank’s Stock Falls The Most In 7 Years Over Coronavirus Fears, Earnings Results

When it rains, it pours. Softbank, which has been going through a tough few quarters with its star portfolio companies Uber, WeWork and Oyo Rooms all struggling, is now battling a problem it could scarcely have predicted a while ago — the coronavirus. Softbank Group’s stock yesterday fell 10 percent, which is its biggest decline since October 2012. “It was a one-two punch of coronavirus fears and terrible earnings results,” said Justin Tang, head of Asian…

UPI Transactions Fell 40% On Friday As Yes Bank Crisis Impacted PhonePe, Other Apps

UPI Transactions Fell 40% On Friday As Yes Bank Crisis Impacted PhonePe, Other Apps

It was believed that UPI was a fairly decentralized payments system — with more than 40 apps all running over the UPI interface, and several different banks involved,  it was believed that UPI was fairly protected from any single point of failure. But yesterday’s Yes Bank crisis has shown how fragile India’s hottest new payments method might be. UPI payments fell 40 percent on the day of the Yes Bank crisis, reports ET. On Friday,…

Paytm Tries To Pitch Its Services To PhonePe During Outage, PhonePe Turns It Down With Epic Tweet

Paytm Tries To Pitch Its Services To PhonePe During Outage, PhonePe Turns It Down With Epic Tweet

In marketing, as in most other things, timing is everything. As restrictions were placed on Yes Bank today by the Reserve Bank of India, the impact was felt across the payments ecosystem. Among the companies affected was PhonePe, which used Yes Bank as its banking partner. PhonePe declared around midnight that its app had stopped working, and soon after people started taking to social media to talk about how the app was no longer operational….

PhonePe, Other Payments Apps Suffer Outages As Banking Partner Yes Bank Faces Crisis

PhonePe, Other Payments Apps Suffer Outages As Banking Partner Yes Bank Faces Crisis

Even as Yes Bank’s customers are chafing at the RBI having restricted withdrawals up to Rs. 50,000, the effect is spreading across the rest of the banking ecosystem. PhonePe and several other payments apps, which had Yes Bank as their banking partner, are suffering long outages as Yes Bank goes through its crisis. At around midnight last night, PhonePe’s official Twitter account said that they were “temporarily unavailable.” “We are temporarily unavailable. We are going…

Paytm Shuts Offices For Two Days, Zoho Works From Home: How Companies Have Reacted To Coronavirus

Paytm Shuts Offices For Two Days, Zoho Works From Home: How Companies Have Reacted To Coronavirus

The dreaded coronavirus is finally in India, and it’s bringing about the sort of disruption that it has caused around the world. Startups and companies have been taking steps prevent the spread of the virus. After an employee tested positive for coronavirus following a trip to Italy, Paytm has shut all six of its offices for two days. “One of our colleagues based out of Gurugram office who recently returned from Italy post a vacation…

Sachin Bansal’s Wife Files Dowry Harassment Case Against Him

Sachin Bansal’s Wife Files Dowry Harassment Case Against Him

A dowry case has been filed against one of India’s most prominent entrepreneurs. Sachin Bansal’s wife Priya Bansal has filed a dowry case against him. An FIR was filed against Bansal, his father Sat Prakash Agarwal, bother Nitin Bansal and mother Kiran Bansal for demanding “dowry” and gifts at the time of the wedding. Priya Bansal alleges that her father had spent Rs. 50 lakh on the wedding and had given Sachin Rs. 11 lakh in cash…

I Promise You I’ll Start To Be More Careful: Softbank’s Masa Son To Investors

I Promise You I’ll Start To Be More Careful: Softbank’s Masa Son To Investors

Softbank Chief Executive Masayoshi Son is admitting that some of the decisions taken by his company’s Vision Fund might have been a tad too rash. “I promise you I’ll start to be more careful and listen. My view doesn’t change, but my behavior becomes a little more careful,” Son reportedly told US investors during a meeting. Son was meeting with Elliott Management, which oversees $40 billion in assets, and is reportedly pressuring Son to rein…

Oppo Launches Financial Services Arm Oppo Kash, Will Provide Personal And Business Loans

Oppo Launches Financial Services Arm Oppo Kash, Will Provide Personal And Business Loans

It’s not just e-commerce companies that are making a beeline into India’s financial services space — phone manufacturers are at it too. Chinese phone major Oppo today launched its financial services arm in India. Called Oppo Kash, the vertical will include payments, lending, savings, insurance and financial education. It also claims to provide, for the first time in India, a financial well-being score. Oppo Kash will be a separate app and will be available on…

Planning to Set Up a Business in Kuala Lumpur? Here Is Where You Can Place Your Money

Planning to Set Up a Business in Kuala Lumpur? Here Is Where You Can Place Your Money

The Southeast Asian city of Kuala Lumpur offers many benefits to its guests. The cost of living is cheap, which makes it quite appealing to retirees. Travel costs are also low, which explains why it welcomes millions of tourists annually. It is also one of the fastest-growing emerging economies over the last 50 years, according to McKinsey. If you’re an investor looking to increase your wealth or appreciate capital fast, Kuala Lumpur is the place…

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