Author: NFAPost News Service

Ethos is focusing on expanding its talent base in India with engineering research and development, data analytics, data science and operations Bengaluru, NFAPost: Ethos, the number one online life insurance provider in the U.S., announced the appointment of Vijay Ratnam as the new India Managing Director. Vijay will lead the company’s organizational culture, strategic resource management and planning for growth and expansion in India. He will focus on talent development and building engineering and product teams in India. In 2022, Ethos opened its first India office in Bengaluru and since then has provided growth and career advancement opportunities for its…

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The Consumer Price Index (CPI)-based inflation is expected to remain at 5.5% in FY24, with a range of 5.3% to 5.7 % New Delhi, NFAPost: The Indian economy is projected to grow by 6.3% in FY24, according to the latest Economic Outlook Survey released by the Federation of Indian Chambers of Commerce and Industry (FICCI). This growth is attributed to a robust financial sector, strong urban demand, an uptick in private investment due to the government’s front-loading of capital expenditure, a resurgence in the real estate sector, and the forthcoming festive season. The survey was conducted in September 2023 and…

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Transacting sellers saw a 2.5X increase in their business, compared to the pre-festive period New on-app experiences such as Flippi (a Chat GPT-powered shopping assistant), Vibes (video-led browsing experience) and SPOYL (Gen Z Fashion experience) saw a ~4X increase in engagement, compared to the pre-festive period 40% of buyers in key categories interacted with immersive 3D and AR experiences before making their purchases during TBBD Bengaluru, NFAPost: The Big Billion Days (TBBD) 2023 marked a decade of success for Flipkart’s annual flagship event, which is drawing to a close on Saturday, with a stellar response from millions of customers and…

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The quarter saw five funding rounds cross the $100 million mark, including the likes of Perfios, Zepto, Ola Electric, Ather Energy and Zyber 365 New Delhi, NFAPost: Investment in Indian startups dropped to a five-year low in the third quarter of calendar year 2023, with funding declining by 54% year-on-year to $1.5 billion. The funding also fell 29% quarter-on-quarter, according to a report by market intelligence platform Tracxn. “Despite the challenging funding environment, India ranks fifth in terms of highest funded countries in Q3 2023 and maintains its fourth-place position for the year-to-date. This highlights the resilience of India’s tech…

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Times Higher Education’s (THE) World University Rankings 2024 was topped by the UK’s University of Oxford followed by USA’s Stanford University and Massachusetts Institute of Technology IISc was followed by Anna University, Chennai, and Jamia Milia Islamia University, New Delhi. Both figured in the 501-600 range. Among IITs, Guwahati ranked best, with a position in the range of 601-800. It was followed by IITs Dhanbad and Patna No Asian university featured in the top 10 New Delhi, NFAPost: Indian Institute of Science (IISc) emerged as the top Indian university in the Times Higher Education’s (THE) World University Rankings 2024, as…

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In insurance, ONDC is starting off with three products – health insurance, marine insurance and motor insurance Mumbai, NFAPost: The Open Network for Digital Commerce (ONDC) is set to expand its services to include financial offerings, such as credit, insurance, investments, and gift cards. This move comes after the platform successfully ventured into sectors like food, grocery, fashion, travel, and electronics. According to industry insiders, the new financial features will go live in a few weeks. Over 65 entities have shown interest in joining the network as either buyer and seller applications (lending institutions) or technology service providers. More than…

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The average ticket size of UPI in the first six months of 2023 was 10% lower than the same period last year showing its growing penetration and increasing adoption of small payments New Delhi, NFAPost: Driven by zero transaction fees and depth of acceptance, person-to-merchant (P2M) transactions in India are expected to account for 75% of all United Payments Interface (UPI) transactions by 2025, a report released on Tuesday showed, citing data from the National Payments Corporation of India (NPCI). Currently, P2M accounts for a share of 56.1 per cent of all UPI transactions. According to the “India Digital Payments…

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The technology, through the use of tiny accelerometers present in the android smartphones, can detect the very beginnings of earthquake shaking New Delhi, NFAPost: Search giant Google has launched its Earthquake Alerts System for Android smartphone users in India. The system, developed in consultation with the National Disaster Management Authority (NDMA) and the National Seismology Center (NSC), provides early warnings of seismic activities, available in multiple Indian languages. The alert system leverages tiny accelerometers in Android smartphones to detect the initial stages of an earthquake. When multiple phones in a specific area register seismic activity, the information is aggregated to…

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Bengaluru, Delhi-NCR and Mumbai have a cumulative share of about 68 per cent in the total green-certified office stock as of June 2023 New Delhi, NFAPost: Green-certified office space stock have increased 36 per cent to 342 million square feet across six major cities in the last three and half years, according to a CBRE-CII report. Real estate consultant CBRE and industry body CII on Wednesday released its report titled, ‘Indian Real Estate: Taking Giant Strides – 2023 Mid-Year Outlook’ at CII Realty conference here. According to the report, green-certified office stock stood at 251 million square feet in 2019.…

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The restructuring exercise will be undertaken by Arjun Mohan, who was recently elevated as chief executive officer (CEO) of its India business, replacing Mrinal Mohit, according to the sources Bengaluru, NFAPost: Byju’s has decided to lay off around 4,000 employees or over 11 per cent of its total workforce over the next few weeks as part of a restructuring exercise as the struggling edtech giant faces a severe funding crunch, battles lenders and has faced a markdown in its valuation, according to the sources. The Bengaluru-based firm has a total of about 35,000 employees. The restructuring exercise will be undertaken…

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