SERVICES
Rs 35 lakh revenue from Rs 500 service: Two Hyderabad childhood friends built an app helping NRIs hire personal assistants in India
Two Hyderabad childhood friends, Nishant Parepalli and Shashank Veer Pothaduri, launched Shoppin in 2023. The startup connects customers in over 20 countries with personal shoppers and assistants in India. Starting at Rs 500, its services include shopping, property checks and paperwork. The company reported Rs 33 lakh revenue in FY26 and Rs 35 lakh between April and October 2026.
AI can bring productivity gains with job risks; impact on India not yet clearly visible: Moody's
Artificial intelligence is expected to improve productivity in IT services and BPO sectors in emerging markets. Moody's predicts GDP growth for India will rise to 7% in 2027. The lack of digital infrastructure and skills could limit how emerging markets benefit from AI.
Singapore's Temasek to invest Rs 2,500 cr in Godrej Industries' financial services arm
Temasek Holdings announced plans to invest 25 billion rupees in Godrej Capital's financial services business. This investment will value Godrej Capital at approximately 280 billion rupees. Following this deal, Godrej Industries Group will retain approximately 80% ownership in the company.
Fairfax's Rs 52,878-crore IDBI Bank deal sets stage for a financial services powerhouse
Fairfax Financial Holdings has successfully acquired a controlling stake in IDBI Bank for Rs 52,878 crore. The investment aims to redefine IDBI Bank as a comprehensive financial services provider in India and abroad. Fairfax plans to integrate its existing insurance and capital market businesses into IDBI Bank to enhance its offerings. The acquisition reflects Fairfax's strategy of leveraging IDBI Bank's infrastructure for greater market competitiveness.
Meta's longtime infrastructure head Janardhan to depart in early 2027: Bloomberg
Janardhan, who is also co-head of engineering, did not detail reasons for his departure in the memo, the Bloomberg report said. Dave Brown, who joined Meta earlier this year as vice president of infrastructure after nearly two decades at Amazon Web Services, will succeed him, the report added.
Yes Bank bondholders press for compliance with Supreme Court's AT-1 order
Yes Bank bondholders filed a contempt petition in the Supreme Court regarding the restoration of AT-1 bonds. The Supreme Court upheld a ruling that set aside the lender's write-off of 84 billion rupees in bonds. Axis Trustee Services, representing the bondholders, asked for directions to enforce the court's ruling. Yes Bank had not complied with the restoration order, prompting the trustee's legal action.
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Chinese companies providing overseas services to Indian subsidiaries may escape tax: ITAT
In a landmark decision, the Delhi Income Tax Appellate Tribunal has determined that Chinese firms offering services from overseas are not liable for Indian taxes. This ruling contrasts with a Mumbai bench decision made in 2010 regarding taxation policies on foreign services. The tribunal's finding is advantageous for Chinese companies supplying centralized services to Indian entities during the digital age.
Deutsche Bank launches digital asset custody service for paying clients
Deutsche Bank launches its digital asset custody service for institutional and corporate clients, offering secure storage for cryptocurrencies including Bitcoin and Ether. The move strengthens its digital asset strategy, with plans for potential Asian expansion and collaboration with DWS to develop regulated digital asset infrastructure.
WhatsApp to double down on financial services, AI: CEO Kunal Shah
WhatsApp is implementing new strategies aimed at improving user experience by making communication features more intuitive for seamless navigation. The initiative includes streamlining financial transactions, so users won’t have to navigate out of the app. Kunal Shah is also looking to harness artificial intelligence for better schedule management. Collaborations with telecom and payment services may elevate these functions. Importantly, user privacy is safeguarded, maintaining end-to-end encryption on all communications.
Titan bets on studded jewellery, premium watches and eyewear to drive growth
Titan’s strong Q2 performance, driven by studded jewellery and premiumisation, is expected to sustain earnings growth, with gold price stability and a prolonged wedding season likely to revive buyer growth.
Delhi's river tourism begins with the launch of Yamuna recreational cruise service
Delhi has launched its first ever recreational cruise service on the Yamuna River to encourage local tourism. This innovative program invites residents and tourists alike to explore the river's stunning landscapes and rich cultural heritage. With various engaging attractions on board, the service aims to stimulate regional economic activities and public involvement.
Is Veterans Day a Federal Holiday? Are banks and post offices open? Here's what's open and closed on November 11
Veterans Day will be observed on November 11, 2026, impacting many services across the United States. Federal offices and banks are likely to be closed due to the holiday, which celebrates military veterans. However, private delivery companies and US stock markets will remain open during this day. Most retail stores and restaurants are expected to operate normally and may offer promotions.
In Logan, Utah, Dale’s 1955 Sinclair Service Station underwent a $565,000 restoration and became a flower and gift shop
After undergoing extensive renovations, Dale's Sinclair Service Station has successfully transitioned into a lively floral shop, thanks in part to valuable tax credits. The National Park Service highlights the economic benefits that arise from investing in historic preservation—creating jobs and boosting GDP. Restoring these historic buildings not only curtails carbon emissions but also plays a vital role in revitalizing communities by preserving informal gathering spaces for residents.
Kitsap Fast Ferries carried 854,529 passengers in 2024, while fares covered 16% of operating costs in 2023; voters approved a sales tax to fund the service
Kitsap Fast Ferries has successfully increased passenger transport, carrying over 854,000 passengers in 2024. The local sales tax supports 84 percent of the operating costs instead of relying solely on ticket sales. More than half a million passengers used the Bremerton route, showcasing significant demand for faster service. The system's reliability was highlighted with high performance metrics in scheduled service.
Delhi govt notifies new law, imposes Rs 250 daily fine on officials for service delays
The Delhi government has enacted the Delhi (Right of Citizens to Time-Bound and Easy Delivery of Services) Act, 2026. The Act aims to ensure government services are delivered within specified timeframes, holding officials accountable for delays. A designated officer will be responsible for each service, ensuring transparency and tracking. Appeals related to delays can escalate automatically to the Citizen Grievance Redressal Authority.
Apple Intelligence AI service registers with Chinese regulator for use on tablets, laptops
The cyberspace regulator in China's Shanghai said on Monday that Apple's generative AI service, Apple Intelligence, has been registered for use on tablets and laptops in China.
No More Zeroes: Govt plans to extend ZED certification scheme to services sector MSMEs
In a significant move, the Indian government is widening its Zero Defect Zero Effect certification initiative to include service enterprises in the MSME sector. This strategy will target key industries like transport, hospitality, and healthcare with approximately 20 predefined quality metrics. Furthermore, specialized standards for MSME exporters will ensure they meet global quality benchmarks, ultimately empowering these businesses in the international marketplace.
Companies want AI-powered customer service; EY says they need a bigger reset
Adopting artificial intelligence tools alone is insufficient for companies aiming to enhance customer service operations. They need to redesign their operating models and workforce capabilities, as highlighted in an EY report. Assessing existing operations and identifying gaps are crucial first steps in this transformation process. Additionally, integrating AI into existing systems is necessary to drive measurable business outcomes and improve customer experiences.
Diwali 2026: Delhi Metro to commence services at 6 am on select routes; check new timings here
Delhi Metro has announced earlier train services on select lines for Diwali festivities. Trains on the Pink Line, Magenta Line, and Grey Line will begin operations at 6 am. Regular services will continue according to the Sunday timetable after the early start. Last trains from all terminal stations will depart at 10 pm on Sunday. This revised schedule aims to accommodate commuters during the festive occasion.
US Treasury sanctions Canadian money services firms over Iran-related transactions
US Treasury imposed financial sanctions on eight Canadian money services firms involved with sanctioned Iranian entities. The sanctions block access to dollar-based financial systems and prohibit transactions with US persons. Secretary of the Treasury Scott Bessent stated that Canada cannot provide safe havens for illicit financial facilitators. Additionally, MEXC Global, a virtual currency exchanger, was cut off from the US financial system.
AI gains fail to cool rising staff costs at Indian IT services firms
Although artificial intelligence (AI) and automation are changing the traditional labour-intensive model of IT services, they have yet to bring down employee costs for the country’s top six IT services companies—Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, Tech Mahindra and LTM (formerly LTIMindtree).
TRAI moots satellite network-as-a-service model, bars infra providers from directly serving users
TRAI has recommended a new framework for satellite communications, which includes authorising satellite network providers. These providers can offer infrastructure and capacity services to eligible telecom operators without directly serving consumers. The framework also enables potential direct-to-device connectivity using satellite and terrestrial mobile spectrum. Authorised providers will have an authorisation period of up to 20 years, with possible renewal.
Blinkit Ambulance to charge Rs 2,500 for non-emergency trips; emergency service will stay free: Deepinder Goyal
Goyal said Blinkit Ambulance has served about 42,000 cases in the last two years, of which roughly 20,000 were emergencies. None were charged but a growing share of bookings were for routine checkups, hospital visits and hospital-to-home transfers, trips that “an Uber or private transport could have handled just as easily,” he said.
Russia's service sector stagnates, output rises marginally in October
Russia's service sector showed minimal growth in October, with a decrease in orders for the first time in three months. New businesses also fell, indicating a concerning trend amid declining export demand. Employment exhibited a marginal increase after a prolonged period of job cuts across the economy. Input cost inflation rose as firms adjusted selling prices to manage higher costs.
New orders & robust demand lift India's October services growth to 4-month high
Growth in India's services sector increased to a four-month high in October due to strong domestic demand and business orders. The HSBC Services Business Activity Index rose to 55.8, reflecting improved business conditions. Conversely, manufacturing activity showed a slight decline, easing to a PMI of 54.7. While input prices continued to rise, the rate of increase was the slowest in over six years.
India's services growth accelerates to 55.8 in October, cost pressures ease to six-year low
India's services sector activity expanded at its fastest pace in four months in October, with the HSBC India Services Purchasing Managers' Index (PMI) rising to 55.8 from 55.2 in September, while input cost inflation eased to its lowest level in more than six years, according to data released by S&P Global on Wednesday.
BLS International Services net profit rises 8.6% to Rs 201.7 cr in July-September
BLS International Services reported an 8.6 percent growth in profit after tax for the quarter ended September 2026. The company's revenue from operations rose by 32 percent compared to the same period last year. Investments in AI technology, automation, and employee upskilling are part of their growth strategy. The leadership expressed confidence in future growth supported by technology and global expansion.
RBI eases forex rules for services exports and imports
The changes form part of the Foreign Exchange Management (Export and Import of Goods and Services) which came into effect from October 1, 2026. Under the amended regulations, a resident individual exporting services will be deemed to have submitted the Export Declaration Form, or EDF, once the individual provides the authorised dealer bank with the information required to credit the payment to the exporter's account. No transaction-value threshold has been prescribed for resident individuals.
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