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< Back PayU to enter B2B payments, supply chain financing 16 Nov 2023 It plans to expand its profile once it receives the RBI payment aggregator license. Payments gateway veteran PayU plans to enter Business-to-Business or merchant payments for Indian customers. Once that is set, it will venture into the small ticket supply chain financing space. PayU also acquired a 4.6% stake in the supply chain financing startup Vayana Network. The B2B merchants tie up with multiple payment aggregators, so retention is lower in this segment. PayU intends to use QR codes for offline payments instead of POS terminal transactions. The Reserve Bank of India (RBI) rejected PayU’s application for the payment aggregator license in January this year. The company had to stop onboarding new merchants after this development. It implemented changes in its holding structure, reapplied for the permit, and now awaits RBI’s final nod. PayU used to generate up to 99% of its revenue from payments till FY2019. Now, it generates up to 47% of its revenue from non-payment related operations and 30% from credit. Previous Next

< Back Vande Bharat sleeper trains and metro ready for trials soon 17 Jun 2024 The train has almost completed manufacturing in India and will begin commercial operations within six months. The semi-high-speed Vande Bharat trains have almost finished being manufactured in India. They will commence trials on August 15th and be ready for a commercial launch within six months. The sleeper version is needed to launch Vande Bharat on longer routes. These sleeper trains, made by BEML Limited, will have 16 coaches with four bogies each. Besides, noise insulation, sensor-based energy-efficient overhead lighting, sensor-motioned entry/exit doors, cameras, bio-vacuum toilets, and windows will be some of the features. Leg space, seat cushions, and ladders for upper berths will be more improved than other sleeper trains. The gangways will be sealed to keep the dust-free. Vande Bharat trains run at 160 kmph, and the sleeper trains will be tested at 180 kmph. Vande Metro will begin trials in July. It will be a chair car that travels up to 130 kmph. Every coach will offer seating for 100 passengers and standing space for 200. Previous Next

< Back Tata to build defence manufacturing line in Africa 3 Oct 2024 Tata Advanced Systems will build a plant in Casablanca to manufacture armoured vehicles for the Royal Moroccan Armed Forces. To serve the African defence forces in the long term, Tata Advanced Systems Limited (TASL) will set up a plant in Casablanca, Morocco. TASL Morocco will be Tata’s wholly-owned subsidiary. It will first manufacture a Wheeled Armoured Platform (WhAP) for the Royal Moroccan Armed Forces. The WhAP is an eight-wheeled infantry combat vehicle built for all types of terrain, including land and underwater. The plant, having a capacity of 100 combat vehicles annually, will be operational within a year. It will begin rolling out vehicles within 18 months. This will be India's first greenfield defence factory in a foreign market and Morocco’s first large defence manufacturing factory. It will employ 350 people and significant developmental work will be done in India. The Indian Army is already using the WhAPs on the Ladakh border. India exports defence weapons to over 90 countries. Its production crossed ₹1.27 lakh crore in FY24. Previous Next

A cause de la crainte d’une récession aux États-Unis, les marchés boursiers mondiaux sont plongés. < Back Les marchés boursiers mondiaux s'effondrent à nouveau A cause de la crainte d’une récession aux États-Unis, les marchés boursiers mondiaux sont plongés. La Réserve fédérale a abaissé ses taux directeurs pour soutenir la croissance économique alors que l’on craint d’une récession aux États-Unis. Les marchés mondiaux ont été affectés par la faiblesse du rapport sur l'emploi pour le mois de juillet, le taux de chômage américain ayant augmenté à 4,3 % pour le quatrième mois de juillet. En conséquence, le FTSE britannique, CAC 40 français, le DAX allemand, le NASDAQ, le S&P 500, et le Dow Jones s’ont effondré aout 5. Le Nikkei japonais a glissé de 14 %, la pire baisse depuis le ‘lundi noir’ de 1987. Le marché indien a chuté de 3 % et les investisseurs ont perdu 18 milliards de dollars. Les économistes de Goldman Sachs ont haute la probabilité d’une récession aux États de 15 % à 25 % en 2025. Une économie est en récession si le PIB resté négatif pendant deux trimestres. Previous Next

< Back Road Ministry planning centralised hubs for all transportation modes 21 Aug 2024 The ministry aims to develop integrated public transport and terminals across India, combining road, rail, air, water, helipads, and ropeway modes of transport. The Ministry of Road Transport and Highways is actively working on its One Nation, One Location initiative to integrate all modes of transport for speedier freight and passenger movement. National Highways Logistics Management, National Highways Authority of India’s fully owned subsidiary, will develop two pilot hubs in Tirupati and Katra within two years, followed by Nagpur and Varanasi. It will reduce passengers' navigation challenges due to a fragmented transportation system, including local public transport. An integrated system will minimise transit time, facilitate smooth transfers between different transport modes, and offer amenities like parking spots, hotels, and retail outlets. Integration will happen using Geographic Information Systems (GIS) and data analytics. The government is encouraging Public-Private Partnerships for this project. The hubs will be a one-stop solution for 87% of the passenger traffic using road transport in India. The development of city centres will further reduce city congestion and boost economic activity. Previous Next

< Back New data law mandates age verification for all companies Ishita Nigam 16 Oct 2023 Not only social media or edtech platforms but all companies will have to deploy age gating mechanisms for website visitors. The Digital Personal Data Protection Act, 2023 (DPDPA) mandates that all companies besides social media and edtech platforms deploy age gating or verification mechanisms for all customers to ensure minors don’t browse online without parental consent. The law specifies that personal data of kids and persons with disabilities should be processed only with parental or guardian consent. The age gating clause stipulates that companies must know who visits them online and secure their verifiable consent. This has triggered a series of doubts among businesses. Industry experts translate this as all companies must deploy age gating measures involving a three-step verification of the child’s age, the parental identity, and proving that the two are related. Another popular question is whom to approach for parental consent – the father or the mother, as government IDs usually have the father’s name as the listed parent. Previous Next

< Back Nine dogs to welcome travellers at Mumbai int’l airport 29 Oct 2024 Chhatrapati Shivaji resumed Pawfect Programme, which was suspended during the pandemic. Adani Group’s Chhatrapati Shivaji Maharaj International Airport (CSIMA), Mumbai, brought back its popular ‘Pawfect’ initiative to make the travel and checking-in process stress-free for travellers. It is CSIMA’s pioneering initiative among Indian airports. Pawfect Life Kennel entered a one-year agreement with CSIMA to provide therapy dogs at the airport. Nine dogs include a rescued Husky, a Lhasa Apso, a Maltese, a Labrador, and a Golden Retriever. Bella, the golden retriever, is a star among the canines. With her warm demeanour and cuddlesome personality, Bella is an expert in engaging with children with special needs and cheering up passengers. They will greet passengers at Terminal 2 Departures and Domestic Level 3 post immigration between 3 pm and 11 pm from Friday to Sunday. These dogs are trained companions specialising in sensing and responding to different moods and offering passengers emotional support and unconditional love to ease their anxiety and bring joy. Previous Next

< Back Myntra to reduce the Return Fees before the festive season Ishita Nigam 20 Sept 2023 The fashion e-tailer was levying a flat fee of ₹199 to ₹299 per order from Myntra users, who triggered more returns than the average customer. Myntra plans to reduce the flat convenience fee of ₹199 to ₹299 per order for customers with a higher number of product returns than the average user. These customers form around 2% to 5% of the overall active user base, which goes live on Myntra’s website at least once a year. The move comes in as the festive season approaches. It plans to reduce the flat fee to ₹15 to ₹30 per order once the user exhausts the number of free returns. Fashion always has more returns, up to 30%, compared to other categories like electronic gadgets or consumables due to issues with the fit and feel of the product. To curb the logistics costs associated with product returns and move towards profitability, Myntra introduced ‘Returns as a service’ earlier this year. It also started offering extra discounts if customers go for exchange instead of returns. Previous Next

< Back Indian IAF Pilot lands SpaceX Dragon on Int’l Space Station 26 Jun 2025 It has been 41 years since an Indian was part of a spaceflight program. Today, Shubhanshu Shukla, the Indian Air Force Group Captain, became the first Indian to visit NASA’s orbiting lab on the International Space Station. He piloted SpaceX’s Dragon spacecraft carrying four crew members, including himself. NASA’s mission involved private firms SpaceX and Axiom Space. The craft took off from NASA’s Kennedy Space Centre, Florida, on June 25th at 12:01 pm IST and landed on June 26th around 4:30 pm IST. Born in 1985 in Lucknow, Shukla joined the Indian Air Force in 2006. He’s flown over 2,000 flight hours and was selected as a member of a team of four for India’s Gaganyaan human spaceflight mission. Besides Shukla, Commander Peggy Whitson from the US, Slawosz Uznański-Wiśniewski from Poland, and Tibor Kapu from Hungary are part of the team. They are conducting many India-sponsored experiments for long-duration missions, including microalgae cultivation, human health in space, and plant biology. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back Govt to ease the process for imports from FTA countries 25 Jul 2024 The government has proposed to accept self-certification as proof of origin of goods from nations with whom India has Free Trade Agreements (FTAs). The interim budget is replacing the word ‘ certificate’ with ‘proof’ in section 28DA of the Customs Act. Currently, the import process demands a certificate of origin for customs clearance and payment of duties. Proof of origin is a declaration issued as per the trade agreement between two countries. It declares that the incoming goods fulfil the country of origin criteria and the trade agreement requirements. The process was simplified for two reasons. First, Chinese products are being imported to India via other countries with whom we have an FTA. Second, industry associations, especially those in the electronics sector, sought an easier import clearance process. After India’s issues with China, the origin certificates were being carefully scrutinised. But now, this move is expected to contribute to the ease of doing business in India. India’s imports grew from over USD 437 billion in FY2023 to USD 675.4 billion in FY2024. Previous Next

< Back One app to track air, sea, land, and rail cargo coming soon 21 Dec 2023 National Industrial Corridor Development Corporation (NICDC) is involved in developing the app. The NICDC is developing an app to track all consignments travelling by air, land, sea, road or rail. It will track and trace shipments according to their specific tracking codes, gauge the reliability of truck movement, and facilitate vehicle visibility in real time. This reduces lead time for the import-export cycle. It also identifies empty trucks and containers within a 50-kilometre radius, which enhances logistics efficiency, reduces inventory carrying costs and improves empty container management. It aims to bring down logistics costs to 5-6% of the GDP, compared to around 9% in FY22. Over 700 companies in the logistics, shipping, courier, and manufacturing domains have signed up on the app. Last year, the government launched a Unified Logistics Interface Platform (ULIP) under the National Logistics Policy (NLP), integrating 35 software of different ministries. The government is currently working on a truck hailing system, like cab booking apps. Previous Next

< Back As Zomato becomes Eternal Ltd, Cars24 rolls out new car sales 18 Mar 2025 Zomato received 99.7% shareholder votes to change its parent entity name to Eternal Limited. Two Gurugram-based unicorns are embracing major changes. Although Zomato internally changed its name to Eternal Limited in 2022 after acquiring Blinkit, it received the official shareholder nod now. It will retain its brand name for the food delivery app, but the business entity and the stock exchange ticker will become Eternal. This is Zomato’s second renaming. It started in 2008 as Foodiebay and became Zomato in 2010. Another unicorn, Cars24, launched the ‘New Cars Platform’ to sell new cars on one super app. The platform displays real on-road prices, model comparisons, AI-powered video sneak peeks, home test drives, and financing. It functions as an aggregator for dealers and OEMs to list their models. Currently, for every 10 new cars bought, 13 used cars are sold. This ratio is expected to be 10:17 by 2030. 50% of their customers consider buying a new model, and the company will offer both options. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next