Both sides are drafting a call and put option in their share purchase agreement that will allow Amazon to call for Biyani's stake in FRL over the long term.

Atal Bihari Vajpayee passed away today at the age of 93. Leaders cutting across the political spectrum mourned the loss of India's former prime minister.

One thing is certain in the acquisition of the Flipkart stake is that the cart has flipped in favour of the small and medium businesses in India, more so for groceries in particular where the efficiency of the supply chain for consumables and perishables has never been robust and efficient.

Future Group CEO Kishore Biyani on Monday said the much-believed burgeoning online retail sector in India has a threat from physical retail models like Big Bazaar and Easyday, owing to low business share and high cost of business of the former.

Refurbished gadgets, which have caught the fancy of the Indian consumer, come at a considerable discount. Here's a sneak peak.