Over 22K techies lose jobs in US, more than 12K in Indian startups

New Delhi (IANS) As the tech and startup sector gets hammered by economic meltdown, more that 22,000 workers in the sector have lost jobs in 2022, along with more than 12,000 in the Indian startup ecosystem.

Startups, especially the ones who…

Ola Electric slips to 4th spot as EV registrations fall amid fire fears

New Delhi (IANS) As customers delay purchasing electric two-wheelers amid fire incidents, Ola Electric again saw its registration dipping in the month of June, taking the company to fourth place in the overall category.

Bhavish Aggarwal-run…

Large borrowers' loan accounts and bad loans decline: RBI

Chennai (IANS) The share of large borrowers for scheduled commercial banks (SCB) has declined in the recent times while their share in the gross non-performing assets (GNPA) also went down, said the Reserve Bank of India (RBI).

According to…

Telecom gear firm Parallel Wireless lays off 500, including in India

New Delhi (IANS) Telecom gear provider Parallel Wireless has laid off at least 500 employees in India, Israel, the UK and the US.

Parallel Wireless is one of the leading vendors in the open Radio Access Network (RAN) industry and last had at…

Cloud reduces turnaround time essential for dynamic business like ours: Zomato CTO

New Delhi (IANS) As the quick-commerce growth story takes shape in India, Zomato, which just acquired Blinkit for about $568 million, feels that quick commerce is a natural extension of its food delivery business.

India's quick commerce…

Lenskart takes majority stake in Japanese eyewear firm Owndays for $400 mn

New Delhi (IANS) Omnichannel eyewear unicorn Lenskart on Thursday announced it has taken a majority stake in Japanese eyewear brand Owndays in a deal that is reportedly around $400 million.

This will take the merged firm to reach 13 markets…

Top NFT marketplace OpenSea admits email data breach

New Delhi (IANS) Leading non-fungible token (NFT) marketplace OpenSea has admitted a major email security breah, warning users that they may have been impacted.

In a blog post, OpenSea said it learned that an employee of Customer.io, its email…

BYJU's says Aakash acquisition process on track, to be completed by Aug

New Delhi (IANS) Edtech giant BYJU's on Wednesday said that the $1 billion acquisition process of Aakash Educational Services is on track and is expected to be completed by August.

BYJU's acquired Delhi-based offline test preparatory…

Cloud technology helping us deliver meaningful experiences to customers: Uni Cards

New Delhi (IANS) As the Indian fintech industry embraces Cloud-based technologies for the credit cards, buy now, pay later (BNPL) and credit EMIs market to deliver delightful experiences to the customers, Uni Cards with its unique offerings has created…

Categorisation of loans as 'Fraud' destroying billions of underlying business value

New Delhi (IANS) The categorisation of loans as "Fraud" is a compliance overreach which in the process is destroying billions of underlying business value, industry sources have said.

This tagging also violates the principle of natural justice…