Market leaders PhonePe and Google Pay are seeking an extension while Paytm wants the rules to take effect “as per the timeline”. Officials told us the government is monitoring the situation but won’t intervene.
Direct-to-consumer sleep-tech startup, The Sleep Company, has raised Rs 177 crore, led by Premji Invest who now owns roughly 15%-20% stake in the startup, sources aware of the deal told ET.
AI lending platform Upstart has laid off 7 per cent of its total workforce (around 140 employees), as it faces weakening demand for loans in the US due to significant hikes in interest rates.
Sarah Personette, who was chief customer officer and ad boss, tweeted on Tuesday that she resigned last week, adding to advertisers' uncertainty over how the social media company will change under Musk.
While offline trade boomed from this fiscal with withdrawal of all Covid restrictions and low infection rates, ecommerce continued its pace of growth with consumers adopting both the offline and online channels.
Experts have urged the government to mention “the specific grounds” under which an appeal may be made to the GAC, as this would also keep the volume of cases escalated to the GAC more manageable.