India’s National Payments Corporation (NPCI) has announced that using Prepaid Payment Instruments (PPIs) for transactions through UPI will attract an interchange fee. This charge will be levied if the transaction is more than ₹ 2,000. NPCI has also notified that an interchange fee of up to 1.1 per cent will be applicable on merchant UPI […]
Business, Technology
Unacademy, the Indian edtech unicorn, has announced its fourth round of layoffs in the past 12 months. The SoftBank-backed company has reportedly sacked around 380 employees, which accounts for around 12% of its workforce. This comes as Unacademy looks to make its core business profitable and adjust to the current realities it faces. In a […]
Business
Indian startups have established strong ties with US banks, especially Silicon Valley Bank (SVB), which has been a key player in the Indian startup ecosystem. SVB provides banking services to many Indian startups, including payment processing, foreign exchange, and lending. The collapse of a large US bank, such as SVB, could have an impact on […]
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GitHub, the popular open-source developer platform owned by Microsoft, has reportedly laid off its entire engineering team in India. The move has come as a surprise to many, given that India is the platform’s second-largest developer community after the United States. It is estimated that the company has let go of around 100 engineers in […]
Business
The Walt Disney Company, one of the largest media and entertainment conglomerates in the world, is set to lay off 7,000 employees in the coming months. The decision to downsize comes in the midst of a global pandemic and a period of industry uncertainty, with theme parks and movie theaters remaining closed or operating at […]
Business
Twitter, the popular social media platform, has been making headlines lately due to its fluctuating valuation. The latest news comes from an internal email seen by American news media, which reveals that Elon Musk, Twitter’s majority shareholder, has put its current value at $20 billion, less than half the $44 billion he paid for it […]
Business
\ Elon Musk, the CEO of Tesla and Twitter, recently made headlines when he claimed that Microsoft was given exclusive access to OpenAI’s codebase as part of its investment in the generative AI firm. This news has raised concerns about the implications of such a move on the future of AI and innovation. OpenAI, which […]
Business, Technology
Glassdoor, the popular employer rating website, has announced a reduction in its workforce by approximately 15%, affecting 140 employees. The company’s CEO, Christian Sutherland-Wong, cited the “shifting macroeconomic environment” as the reason for the layoffs. In a memo sent to employees, Sutherland-Wong mentioned that they had exhausted all options to avoid this outcome. Glassdoor is […]
Business
Rahul Roy Chowdhury: Know the new Indian-origin CEO of Grammarly Rahul worked with Google for 14 years and rose to the position of Vice President of Product Management. After that, he joined Grammarly in May 2021, as Global Product Head. During his two years of service at the company, Rahul demonstrated his exceptional skills and […]
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