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The repo rate and reverse repo rate will remain at 4% and 3.35 percent, respectively, according to the RBI.

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The Reserve Bank of India (RBI) kept its main policy rates unchanged on Friday, for the sixth time in a row and at record lows, as part of its “accommodative approach to revive and maintain growth on a sustainable basis” as the coronavirus pandemic entered its second wave. “The Monetary Policy Committee (MPC) voted to retain the status quo, which means the repo rate will remain at 4%.MPC also agreed to keep its accommodative stance for as long as it is required to revive and maintain growth on a long-term basis, as well as to mitigate the effect of Covid on the economy,” RBI governor Shaktikanta Das said after the three-day meeting in Mumbai.

“At this juncture, the MPC believes that policy support from all sides is needed to reclaim the growth momentum seen in the second half of 2021 and to nurture the recovery once it has taken root,” Das said.

Das added that the RBI held the reverse repo rate, or borrowing rate, at 3.35 percent. Owing to the effects of the second wave of the coronavirus pandemic, the central bank lowered its forecast for economic growth for the current fiscal year to 9.5 percent from a previous outlook of 10.5 percent. Bank rates and the Marginal Standing Facility (MSF) rate were also held at 4.25 percent.

Since March2020, the RBI has cut the repo rate, or main lending rate, by a total of 115 basis points (bps) to cushion the blow of the coronavirus pandemic. On June1, the MPC, the RBI’s rate-setting council, began its three-day monetary policy deliberations.

On May22,2020, the central bank cut its policy rate to a historic low in an off-policy period to boost demand. “The conduct of monetary policy in 2021-22 will be driven by changing macroeconomic conditions, with a bias to remain supportive of growth until it gains traction on a durable basis while ensuring that inflation remains within the target,” the RBI said in its annual report released last month.

The central bank will also ensure that system-level liquidity remains comfortable during2021-22, in line with the stance of monetary policy, and that monetary transmission continues unhindered while financial stability is maintained, according to the study.

The Indian economy grew by 1.6 percent in the first quarter of this year compared to the same period last year, but contracted by 7.3 percent for the entire fiscal year, the worst in more than 40 years.

Bitcoin suffers a setback as a result of Elon Musk’s tweet, but a weekly gain is anticipated.

Bitcoin fell more than 3% on Friday after Tesla CEO Elon Musk hinted at a split with the cryptocurrency in a tweet, but it is still on track for its best weekly gain in about a month as it seeks to recover from the crash in May.

Bitcoin was last trading at$37,809, down about 3.6 percent. Above a meme that seemed to show a couple discussing their breakup, Musk tweeted “#Bitcoin” and a heartbreak emoji. This week, Bitcoin has gained 6.3 percent.

Musk has long been a proponent of cryptocurrencies, but his support for bitcoin has waned after Tesla’s decision to stop accepting it as a form of payment for cars due to doubts about its energy use.

SoftBank is planning a $700 million investment in Flipkart.

SoftBank Group Corp. is in negotiations with Flipkart to invest $700 million in the internet retailer, according to two people familiar with the matter. SoftBank sold its entire interest in Flipkart to Walmart Inc. three years ago.

SoftBank’s Vision Fund 2 is considering a $1.2-1.5 billion investment in Flipkart, according to people familiar with the matter who spoke on the condition of anonymity. Flipkart is expected to be valued at $28 billion in the acquisition, according to one source, with the deal expected to close in 3-4 months.

Depending on the final group of buyers, the deal may be worth as much as $30 billion, according to the second person. According to the people, Prosus Ventures, the investment arm of South African conglomerate Naspers, and other established investors can increase their stakes.

According to the first individual, the deal will take place before the Indian e-commerce giant’s planned listing, which is expected to happen within the next 12-18 months. According to the second person, investors who have signed up for the current round expect Flipkart’s valuation to grow to about $35-40 billion by then, with online sales surging due to the pandemic.

According to the second person, Singapore’s sovereign wealth fund GIC and Canadian pension fund CPPIB are also in talks to invest in Flipkart. The Economic Times was the first to announce this on May 11.

According to the sources mentioned above, Flipkart is unlikely to seek additional funding before its IPO. Flipkart’s transaction is being handled by investment banks JP Morgan and Goldman Sachs.

SoftBank is the company’s second investment in Flipkart. It left the organisation in May of this year. The proposed deal is also almost twice as expensive as when it sold its interest three years earlier.

In August2017, SoftBank’s Vision Fund 1 invested $2.5 billion in Flipkart, but sold its roughly 20% stake a year later after Walmart agreed to purchase a majority stake in the startup for $16 billion. SoftBank made a $1.5 billion profit after selling its share for $4 billion. According to Business Standard, the exit allowed the Japanese investor to pay a steep 43 percent short-term capital gains tax, for which the fund had set aside $648 million.

This year, SoftBank Vision Fund 2 has made some bold bets in India. It is now planning to invest in food delivery unicorn Swiggy, marking the company’s first foray into the foodtech sector.

Last month, SoftBank invested more than $1 billion in banking technology company Zeta. Its planned investment in OfBusiness is also expected to propel the B2B marketplace into unicorn territory.

JP Morgan and SoftBank declined to comment. On Thursday evening, Flipkart, Goldman Sachs Ventures, Prosus, GIC, and CPPIB did not immediately respond to a request for comment.

Meanwhile, SoftBank is considering selling $1.5 billion in shares as the first tranche of dilution in the planned initial share sale of One97 Communications Ltd, the company that operates Paytm.

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Shiprocket Launches RevProtect: India’s First Predictable Revenue Solution for MSMEs

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SHIPROCKET 5 12 2023

Mumbai, Aug 18, 2025 — Shiprocket, India’s leading eCommerce enablement platform, today announced the launch of RevProtect, India’s first revenue assurance solution that guarantees predictable income for sellers facing the uncertainties of shipping delays and return-to-origin (RTO) orders. With RevProtect, sellers can access automatic protection to recover up to 50% of their order value. With this, Shiprocket aims to empower MSMEs through robust, hassle-free coverage that minimises risks and secures their business growth.

As India’s e-commerce sector continues to grow, complexities around logistics, fulfilment, and last-mile delivery are also intensifying. One of the most pressing challenges is Return to Origin (RTO), which significantly impacts the profitability, operational efficiency, and, in some cases, the long-term sustainability of MSMEs. The average RTO in India over the past six months has hovered around 16 % (source: Shiprocket trends), and is increasing in Tier 2 and 3 cities. 

RevProtect directly addresses this business-critical pain point by offering a revenue guarantee, ensuring that sellers are shielded from unpredictable losses and can count on stable, forecastable earnings, even when orders are returned due to shipment delays.

Small and mid-sized sellers, which form the backbone of India’s digital retail economy, often operate on razor-thin margins. Even a minor spike in RTOs or shipping delays can severely impact profitability. With the launch of RevProtect, Shiprocket strengthens its commitment to supporting MSMEs by minimising business risks, stabilising revenues, and enabling them to deliver exceptional customer experiences with greater confidence.

Key Benefits of RevProtect:

●        Revenue Guarantee of up to 50% of the order value for delayed shipments, resulting in an RTO

●        No shipping charges for shipment that misses the Estimated Delivery Date (DD)

●        Affordable Pricing

●        Easy Activation through the dashboard

●        Delivery Boost and Notify, are included at no extra cost to improve delivery performance

“After carefully analysing the needs of online sellers, we have built RevProtect to give them utmost peace of mind and confidence to navigate the uncertainties of logistics,” said Atul Mehta, CEO, Domestic Shipping, Shiprocket.

“Every MSME we work with is building their dream, one shipment at a time, and when things go wrong, it hits their revenue hard. With RevProtect, we’re making a bold commitment where we cover up to 50% of the GMV. That’s often more than what we earn. And we’re backing that with complimentary services like Delivery Boost and Notify to actively improve outcomes. We’re not just protecting revenue,  we’re raising the bar on delivery reliability.” He added.

RevProtect is available to all sellers on the Shiprocket platform. Future updates will include bulk shipment support and deeper analytics to optimise seller protection.

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Zigly brings-in wholesome experiences for furry friends at Pet Fed Delhi

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1694809274 Temptation Alley

Zigly, a leading omnichannel pet care brand, celebrated the bond between pets and their parents at Pet Fed Delhi 2024. This much-anticipated event marked 10 years of successfully conducting Pet Fed in the National Capital. Taking place at NSIC Ground, Okhla, Delhi, the event witnessed one of the largest turnouts ever, with pet parents and their furry friends braving the cold winter weather to attend.

Zigly brings in wholesome experiences for furry friends at Pet Fed Delhi

Zigly, as the power sponsor, showcased its premium brands at one of the event’s largest stalls, featuring Zigly Lifestyle, FurPro grooming range, and the Applod treats and biscuits range, along with stylish accessories from the latest winter collection. A significant portion of the stall was dedicated as a play area for furry friends. The brand advocated the promotion of pet health and hygiene while creating memorable experiences through veterinary and grooming services offered at their stall.

Enhancing the experience for pets and their parents, Zigly provided free health check-ups and opportunities to participate in lucky draws. The brand delighted pet parents with event-exclusive discounts and promotions on its range of products and grooming services, offering an excellent opportunity to stock up on high-quality products at unbeatable prices.

Celebrating Zigly’s participation in Pet Fed, Mr. Pankaj Poddar, Group CEO of Cosmo First, stated, “We are delighted to be part of Pet Fed Delhi as it allows us to come closer to the Zigly community, helping us learn and adapt to the needs of both pets and pet parents. Delhi experiences the harshest winters in the country, which is why we are proud to showcase our winter collection 2024 at this event. Just like previous iteration of Pet Fed at Bengaluru, we are happy to witness such a great turnout of our furry friends at the event in Delhi as well. It keeps us motivated to continue to strive towards our goal of a better pet care ecosystem.”

This year’s event was bigger and better than ever before, featuring a plethora of activities and attractions. Attendees enjoyed fancy dress competitions, lucky draws, and adoption zones, catering to both cats and dogs. The festival also featured numerous pet care brands, offering a wide range of products and services for pets.

The event was a true celebration of the pet community, bringing together pet parents, industry experts, and animal lovers for non-stop fun and learning. As Pet Fed Delhi 2024 wraps up, the excitement and joy shared by all attendees promises to linger, setting the stage for even more spectacular events in the future.

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Celebrating 25 Years of Innovation and Success: Priyank Sukhija’s Journey in the Food and Beverage Industry

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Priyank Sukhija, the CEO & MD of First Fiddle F&B Pvt. Ltd., has completed 25 years in the food and beverage industry, marking a significant milestone in his remarkable career. From a 19-year-old dropout setting up his first venture to becoming a leading restaurateur, Priyank’s journey is a testament to passion, creativity, and relentless ambition.

Starting in 1999 with the fine dining restaurant Lazeez Affaire at Malcha Marg, Priyank quickly made a name for himself in the hospitality industry. He followed this with the renowned club RPM at Priya Complex, and from there, his ventures only expanded. Despite coming from a family of lawyers, Priyank was the first to venture into business, altering Delhi’s hospitality landscape forever. Over the past 25 years, he has opened more than 30 different outlets, each unique and innovative.

Priyank’s success can be attributed to his love for food, music, and innovation. His brands, including Miso Sexy, Bougie, Diablo, Lord of the Drinks, Plum by Bent Chair, and Lazeez Affaire, have become some of the most talked-about names in the industry. “I realized that nothing makes me happier than eating and serving a delicious meal. Food, music, and innovation were what always inspired me and hence I ventured into an area that could fulfill this passion,” Priyank explains.

One of Priyank’s major accomplishments has been revolutionizing the F&B industry and introducing the concept of casual experiential dining to India. His establishment, Plum by Bent Chair, revived the Aerocity Worldmark area, while Diablo kickstarted the bar culture in Mehrauli, turning it into a vibrant hub. At Epicuria, Nehru Place, Priyank was a pioneer with Flying Saucer and is now reinventing the space with his new launch, Thanks & Beyond.

“My restaurants are known for providing an experience, and this makes them stand apart from the crowd. I believe in the ‘vibe’ of the restaurant, and that is what sets them apart. All my restaurants have an extensive menu with dishes and drinks that can be enjoyed by people of all ages,” says Priyank. His eateries have become one-stop solutions for complete entertainment, featuring performances by the most sought-after bands and artists.

With his numerous successes, Priyank’s ambition continues to grow. His current brands, including Diablo, Miso Sexy, and Bougie, have become the go-to destinations in Delhi for top artists and bands. His latest ventures, Diablo Cyberhub, Sitch, and Bizou-Bizou, have created a buzz in Delhi and NCR with their unique cocktail-focused concepts. Additionally, he is expanding to tier 2 cities with the introduction of Miso Sexy in Noida and Diablo in Goa.

In celebration of his 25 years of success, Priyank has opened a new restaurant, Thanks and Beyond, in Nehru Place. This venture is a gesture of gratitude to everyone who has supported him, a homage to Delhi for the love shown to him, and a promise of many more exciting ventures to come. This summer, Priyank has several more launches lined up, promising to bring even more innovation and excitement to Delhi’s F&B scene.

Priyank Sukhija’s journey in the F&B industry is a story of vision, hard work, and a relentless pursuit of excellence. His passion for creating unique dining experiences has not only set him apart but has also significantly shaped the hospitality industry in India. As he continues to innovate and expand, the future looks incredibly promising for Priyank and First Fiddle F&B Pvt. Ltd.

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