Alibaba is the first foreign company to openly claim it's ready to accept the data localisation rules, while other prominent giants like Amazon, Microsoft, American Express, Google and Facebook have shown reluctance.

The instant credit facility is a part of Flipkart's strategy to drive its gross merchandise volume by \"15-20 per cent\" by launching affordability instruments in the next 24 months.

The company will sell life, health and general insurance in India where the insurance sector is booming. Its rivals Paytm and Flipkart are already working towards making their presence stronger in the insurance space.

Vouching for a level-playing field, PhonePe said all payments companies doing business in India must abide by the law of the land and protect our citizen's financial data and pay fair taxes on income earned in India.

As global tech giants slug it out to take a bigger piece of India's booming digital payments pie, Facebook-owned messaging service is reportedly scouting for talent to lead its payments team.

The RBI had earlier directed all payment services companies to store data in India by mid-October.

The court also said that the product is built to function as an e-reader and bought and sold as an e-reader and not as a dictionary or translator.

This development comes at a time when WhatApp Payments and Amazon's plans to launch its own UPI payment service in the country have run into regulatory trouble.

Cars and other durables to get costlier this festive season; Amazon hits $1 trillion market value milestone; reveal names of private individuals who travelled with Prime Minister Narendra Modi on foreign tours, CIC tells MEA; Vodafone, Idea let go of one-third of employees; Johnson & Johnson to pay interim compensation to recipients of faulty implants. Watch this episode of Business Wrap.

Cars and other durables to get costlier this festive seasonWith the rupee's continuous fall against the dollar automobile and consumer goods companies are facing a tough time. This festive season will see these goods become more expensive. LG, Haier, and Godrej Appliances have hiked prices by 3-5 per cent this month. Panasonic India is expected to increase product prices by 2-3 per cent soon as reported by the Business Standard. Maruti Suzuki, the country's largest carmaker, has i...

Rupee hits record low of 70.82, falls 23 paise against US dollar; Paytm Mall looks to deepen partnerships in fight with Flipkart, Amazon; RBI report shows household savings have touched a seven-year high; and buyers must pay up to Rs 24,000 on insurance for new vehicles from September 1. Watch more in this episode of Business Wrap.

Rupee hits record low of 70.82, falls 23 paise against US dollarThe rupee on Thursday extended losses for the fourth consecutive session and plunged to an all-time intra day low against the US dollar on strong month-end dollar demand from oil importers and foreign fund outflows. The currency fell 23 paise to hit a new record low of 70.82 per dollar. The slide was triggered by factors such as crude prices hitting multi-month highs fuelled by supply shocks along with concerns over ...

This deal has also raised eyebrows since Buffett had long refused to invest in the tech space saying that it was too difficult to predict which tech businesses will prosper in the long run.

Digital payments in India is now poised for a great leap forward as global tech giants slug it out for a bigger slice of the pie.

Executive MBA programmes at leading B-schools are gaining ground among recruiters.

The partnership is also to promote Netflix content and give Airtel TV users a taste of Netflix content through a dedicated row on the Airtel TV app.

Amazon plans to invest $700 mn in the Future GroupJeff Bezos-led Amazon in India has begun formal negotiations with Kishore Biyani's Future Group to invest around $600-700 million for a 12 to 15 per cent stake in the retail major as reported by the Business Standard. The two entities have signed a term sheet to take the talks further, sources said. This denotes the two sides have officially entered a pact. If the deal materialises it will most likely be a combination of cash and...

Agritech companies are revamping the farm-to-fork supply chain. The big gainers are farmers.

Earlier in May, Jeff Bezos-led retail giant had pumped in fresh capital of Rs 2,600 crore into its India business unit - Amazon Seller Services. Before this, the company had invested Rs 1950 in Amazon Seller Services in January this year.

Amazon Freedom sale has begun and the e-commerce giant is offering noteworthy deals on smartphones ranging from budget to premium segment. The smartphone brands on offer also include some of the best-selling names.