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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102364) | |
21911. This startup has made salary advances easy - benefitting both employees and employers
Innovation and startups, ISRO/Defense/Water infrastructure/EV and other sectors
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Startups in Bharat
English
India
Your Story
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- Gurugram-based Valyu.ai was started by Rashoo Kame and Gaurav Kumar this year in July. The startup has already onboarded one million employees across India, and is looking at disbursing salary or amount worth Rs 500 crore in FY21.
- Valyu is a B2B company which ties up with an enterprise and provides its employees with an interface to ask for their salaries in advance. The whole process is completed in minutes and no paperwork or credit history is required. This is where Valyu’s business model lies too.
- “Employees are allowed to withdraw a large percentage of their unpaid but accrued earnings straight into their salary account whenever they need it, and these advances are given to the employees within minutes sans any cumbersome paperwork, CIBIL score check or financial background check. At the end of the month, the corporates pay the settlement (this is a disbursed amount with extra charges) amount to Valyu.ai and employees get their balance salaries,” explains Rashoo.
21912. Foreigners Can Now Own Insurance Companies In India; FDI Limit Raised To 74%
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Trak.in
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- Just over a month after unveiling of the Union Budget 2021-22, a proposal to amend Insurance Act, 1938 has been approved. FDI which was earlier capped at 49% will now be raised to a 74% limit.
- Increasing the FDI limit in the insurance sector will boost availability of capital and encourage competitiveness, transparency and efficiency in the sector.
- This comes as a welcome move since it has been forecasted that insurance companies might require Rs15,000 crores of capital in the next 3 years, a figure that would be attainable with higher FDI limits.
21913. Karnataka lands 3rd place with Rs 61,000 crore FDI in 2020
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
The Times Of India
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- BENGALURU: Karnataka, which saw the highest Foreign Direct Investment in the country during lockdown months, ended 2020 with Rs 61,174 crore, of which over Rs 37,000 crore came in the last six months.
- According to data accessed from the ministry of commerce and industry’s Department for Promotion of Industry and Internal Trade (DPIIT), Karnataka saw a 25% dip in the second quarter (April-June) compared to the first (Jan-March) quarter, but investments jumped significantly thereafter.
- Karnataka attracted nearly 68% more FDI in the third (July-September) quarter compared to the second quarter, and the last quarter collections further went up. At Rs 19,955 crore, the state attracted 16% more FDI between October and December compared to the previous quarter.
21914. How Bengaluru-based Welectric is encouraging last-mile delivery businesses to adopt EVs
Innovation and startups, ISRO/Defense/Water infrastructure/EV and other sectors
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Startups in Bharat
English
India
Your Story
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- Welectric was launched in 2019 to solve the problems impeding the adoption of electric two wheelers. It aims to become one-stop-shop for all E2W requirements.
- "Welectric is offering customised and comprehensive multi-brand E2W lease rental solutions to last-mile delivery companies,"
- “We purchase the E2Ws for our customers and take care of all compliance including registration and insurance. We also take care of all after-sale services such as preventive and corrective maintenance at the customer’s doorstep. The customers have complete flexibility to buy the vehicle they are using, or upgrade to the latest model, renew or extend the lease or even just return the vehicle and take their security deposit back after the initial lease period. Clients, however, need to give us an initial lease rental commitment of around 24 months and a refundable security deposit," Founder says.
21915. How this startup is scripting data journeys of organisations
Innovation and startups, ISRO/Defense/Water infrastructure/EV and other sectors
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Startups in Bharat
English
India
Your Story
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- A startup called BluePi uses its platform to help customers organise their data, help them establish the analytics framework and implement the use of data with AI/ML. Founded by Pronam Chatterjee and Kaushik Khanna, the company was launched in 2013.
- "We are a B2B organisation with a primary focus on media, retail and logistics. Irrespective of the industry vertical, our core competency lies in making cutting edge technology and data solutions available for our customers. For example, one of our recent success revolves around helping one of the largest retail firm in India implement AI-driven S&OP solution through BluePi. It is all about making real time decisions," says Pronam.
- "Organisations today need a much better, faster and more efficient way to deliver technology solutions to the customers and that's why BluePi is the answer," says Pronam.
21916. High level meet to discuss e-commerce policy today
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
India Tv
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- The Department for Promotion of Industry and Internal Trade (DPIIT) has convened crucial meetings to discuss the Draft E-Commerce Policy and FDI in the e-Commerce Sector. The meetings will kick off on Saturday, with an inter-ministerial meeting to discuss the draft e-Commerce policy.
- To be chaired by Secretary DPIIT, the invitees include Secretaries from Ministry of Electronics, Department of Commerce, Department of Consumer Affairs, Ministry of Micro, Small & Medium Enterprises, Department of Revenue, Department of Economic Affairs, Ministry of External Affairs, Department of Posts; besides CEO, NITI Aayog, and Chairmen of Directorate General of Foreign Trade, Central Board of Direct Taxes (CBDT), Central Board of Indirect Taxes and Customs (CBIC), Competition Commission of India (CCI) and also Deputy Governor, Reserve Bank of India.
- Then on March 17, an important stakeholder meeting is scheduled regarding FDI in e-Commerce sector. In this meeting, apart from its own officers, DPIIT has invited CAIT, RAI, FICCI, CII, Assocham, PHD Chamber of Commerce, FISME (Federation of Indian Micro and Small & Medium Enterprises).
21917. Sitharaman introduces Bill in Rajya Sabha to allow 74 pc FDI in insurance sector
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Mint
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- India's Finance Minister Nirmala Sitharaman on Monday introduced a Bill in Rajya Sabha that seek to amend the Insurance Act to pave the way for 74 per cent foreign direct investment (FDI) in the sector. The Union Cabinet had given its nod for amendments in the Insurance Amendment Bill 2021.
- Sitharaman presenting the Union Budget for 2021-22 had said, "I propose to amend the Insurance Act, 1938 to increase the permissible FDI limit from 49 per cent to 74 per cent in insurance companies and allow foreign ownership and control with safeguards." Under the new structure, the majority of directors on the board and key management persons would be resident Indians, with at least 50 per cent of directors being independent directors, and specified percentage of profits being retained as a general reserve.
- Increase in FDI will help improve life insurance penetration in the country. Life insurance premium as a percentage of GDP is 3.6 per cent in the country, way below the global average of 7.13 per cent, and in case of general insurance, it is even worse at 0.94 per cent of GDP, as against the world average of 2.88 per cent
21918. भारत पर बढ़ रहा है विदेशी निवेशकों का भरोसा, P-notes के जरिये फरवरी में आए 91,658 करोड़ रुपये
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
Hindi
India
India Tv
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- भारतीय प्रतिभूति एवं विनिमय बोर्ड (SEBI) के आंकड़ों के अनुसार भारतीय बाजारों-इक्विटी, ऋण और हाइब्रिड सिक्योरिटीज- में पी-नोट्स के जरिये निवेश फरवरी के अंत तक बढ़कर 91,658 करोड़ रुपये हो गया।
- जनवरी के अंत तक यह 84,916 करोड़ रुपये था। यह पी-नोट्स के जरिये निवेश का 33 माह का उच्चस्तर है।
- इससे पहले मई, 2018 में पी-नोट्स के जरिये 93,497 करोड़ रुपये का निवेश हुआ था।
21919. Rajya Sabha Clears Bill To Raise FDI To 74% In Insurance Sector
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
English
India
Business World
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- Rajya Sabha approved a bill to raise the foreign investment limit in the insurance sector to 74 per cent with Finance Minister Nirmala Sitharaman saying while control will go to foreign companies, the majority of directors and key management persons will be resident Indians who will be covered by law of the land.
- Giving out reasons for the decision to raise the foreign direct investment (FDI) limit, she said insurance companies are facing liquidity pressure and the higher limit would help meet the growing capital requirement.
- Terming insurance as a highly regulated sector, she said that FDI limit is not a compulsion on companies, and that every promoter will take decisions as to what extent they want funding, within the FDI framework.
21920. BHEL secures first ever overseas solar project
Bharat Economic Growth
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Bharat Economic Growth
English
India
Moneycontrol
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- BHEL said it has bagged its first ever overseas order for a grid- connected solar power project in Mauritius. The project will be set up by BHEL at Tamarind Falls, Henrietta (Phase II), Mauritius on Engineering, Procurement and Construction (EPC) basis, BHEL said in a statement.
- The contract has been awarded to BHEL by CEB (Green Energy) Co. Ltd, Mauritius, a wholly-owned subsidiary of Central Electricity Board, Government of Mauritius.
- The project is funded under Government of India’s Line of Credit and has been secured by BHEL through a competitive bidding process. The project will be executed by BHEL’s Solar Business Division, Bengaluru and International Operations Division, New Delhi.
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