UDHYAM
Govt undertaking extensive reforms, enhancing transparency for ease of doing business
The Indian government has implemented extensive reforms and digital initiatives to enhance ease of doing business, simplifying regulations and strengthening institutional efficiency. These efforts, including the MCA21 project and Udhyam registration portal, have streamlined business processes, fostering growth and attracting investment. The Business Reforms Action Plan further promotes a business-friendly environment across states.
Financial fraudsters turning business accounts into mules for illicit fund transfers
Fraudsters are increasingly exploiting small business current accounts to move large volumes of illicit funds, creating fake documents and Udhyam certificates to open mule accounts. Traditionally targeting retail accounts, they are now focusing on business accounts. Startups and banks are enhancing monitoring to detect unusual fund flows.
Market research startup Consuma AI raises Rs 12 crore from Equirus, others
Consuma AI, a Saas tool for consumer research, has raised Rs 12 crore in a round led by Equirus Capital’s InnovateX Fund, which invested Rs 7 crore. It currently has 35-40 customers including brands like Britannia, Foxtale, and Godrej.
ET Soonicorns Summit 2025: How AI will reshape Indian jobs
Knowledge workers face the biggest threat, while farmers and plumbers may actually win in India's AI revolution.
ET Soonicorns Summit 2025: AI will impact low-skilled workers, experts say
At the ET Soonicorns Summit, experts highlighted AI’s disruption of low-skilled, content-related jobs, urging professionals to adopt AI tools.
Who wins in India’s AI job shake-up? Founders, CHROs, and hiring ecosystem leaders to speak candidly at ET Soonicorns Summit 2025
The AI revolution isn’t coming—it’s here, and it’s reshaping India’s workforce at breakneck speed. But who’s really winning this talent tug-of-war? Find out at the Economic Times Soonicorns Summit 2025, returning for its fourth edition on 22 August in Bengaluru.
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OpenAI announces $150,000 in grants to 11 Indian nonprofits for social innovation
The nonprofits will be given grants in the form of API credits and technical resources, as part of the expansion of OpenAI’s ‘AI for Impact Accelerator’ programme. Philanthropic partners The Agency Fund, Tech4Dev, and Turn.io have joined hands with OpenAI Academy to deliver this programme.
Cybercriminals using mule accounts to set up illegal payment gateways for money laundering: MHA
The Union Home Ministry has alerted about illegal payment gateways used by cybercriminals for money laundering. These gateways exploit rented bank accounts of shell companies and individuals. Operations in Gujarat and Andhra Pradesh exposed gateways like PeacePay and RTX Pay. Citizens are advised not to rent their bank accounts to avoid legal trouble.
Why India’s nano enterprises need formal recognition within the MSME ecosystem
Addressing the challenges of nano entrepreneurs through tailored initiatives aimed at formalisation of the sector and improving resource accessibility are crucial for their upliftment.
Govt should encourage MSME-focused procurement: GAME’s Ravi Venkatesan
Addressing access to finance and mitigating delayed payments hold the key to MSMEs’ growth in the country, says Ravi Venkatesan, GAME’s founder.
Distribution-as-a-service startup ofScale secures $375,000; grocery and gourmet to be next focus area
ofScale’s maiden funding round saw investments from Matrix Partners India DeVC and Relentless Ventures. The company is assisting D2C brands, like Arata, Wishcare and Paradyes establish their offline footprint.
RBI's lending innovation: Can't prove creditworthiness? Now you will still get a loan
The Reserve Bank of India (RBI) is developing a Public Tech Platform for Frictionless Credit delivery through end-to-end digital lending processes, beginning with Kisan Credit Card and dairy loans. RBIH, the RBI's wholly owned subsidiary that accelerates innovation in the financial sector, is piloting its platform in five states and plans to expand its offering to include education loans, MSMEs, and vehicle and personal loans. It will allow lenders to tap into data on milk sales or land records to establish creditworthiness, speeding up the loan application process from its current two to three weeks to a few minutes.
New RBI platform to use milk supply data for dairy farmer loans
Using a new platform created by the Reserve Bank Innovation Hub, a borrower can access information on the milk that dairy farmers sold to Amul or state-accessible land records to calculate their ability to pay back the loan. Many farmers or dairy farmers find it impossible to obtain a bank loan for want of any credit history but this move is seen as a solution to the problem.
How to take MSME loans
In recent years, MSMEs have become the fastest-growing sector, with a rise in their growth trajectory owing to the creation of various opportunities. According to the National Sample Survey (NSS), the MSME sector created 11.10 crore jobs in 2020 and is expected to add 5 crores more jobs by 2025.
Labour ministry forms committee on sharing of data of unorganised workers
The government plans to integrate e-Shram portal with state portal for onboarding social security schemes run by the central government and the state governments to universalize social protection to workers and to improve employment opportunities for them.
Hiring platform Spottabl raises Rs 3.5 crores in seed round
The round saw participation from Paradigm Shift VC Binny Bansal, co-founder of Flipkart and xto10x, LetsVenture, and few former top executives from Flipkart like Mekin Maheshwari, founder Udhyam.org, Rishi Vasudev, co-founder G.O.A.T Brand Labs, Anil Goteti, co-founder Protonn, and Nishant Verman, co-founder Bzaar.
HDFC Bank to hire 500 more to expand MSME coverage
The bank's MSME vertical covers 545 districts now with dedicated relationship managers and supervisors, which will be expanded to 575 districts or more by the end of this fiscal.
Easing market entry, only a first step towards MSME entrepreneurship simulation
While the ease in the registration process is welcomed by both MSME’s and first-generation entrepreneurs, they are also expecting more relaxation in the continuations of the process in the coming years.
Shipsy helps ACT Grants, Udhyam, DTDC deliver covid-relief equipment
Shipsy’s low-code software-as-a-service platform helped configure a complete shipment management platform for its partners, digitising the entire order journey.
Udhyam Learning Foundation ties up with Maharashtra govt to train ITI instructors
In the first phase, the program would cover 32 government ITIs across the state. In the second phase, it would cover all 417 Govt ITIs in the state. The whole roll-out will take one and half years to complete.
Unacademy acquires majority stake in TapChief
TapChief is Unacademy’s seventh acquisition in the past 12 months, and will enable the edtech startup to build Unacademy Pro.
Here's how startup founders, tech leaders reacted to Budget 2021
India's startup founders and tech executives gave big thumbs up to Union Budget 2021-22 presented by Finance Minister Nirmala Sitharaman on Monday.
Tracking app to thermal camera, Indian startup ecosystem is coming together to fight coronavirus
Startup founders in India have joined hands and are taking the initiative to help the government and citizens battle the ongoing coronavirus pandemic by bringing various solutions ranging from a quarantine app to a disease-free vehicle shield.
Startups ask government to taken steps to flatten the coronavirus curve
Startups like Urban Company, Bounce, Cred, Snapdeal, Unacademy, 1MG have supported the findings of the report.
UrbanClap gets investment from ex-Flipkart exec
UrbanClap is backed by investors like Steadview Capital, Vy Capital, SAIF Partners, Accel and Bessemer Venture Partners.
Celebrating Innovation and Empowering Entrepreneurship: E summit 2k19, IIT Madras
IIT madras brings back the 4th edition of the biggest student run entrepreneurial conference in the country on March 8,9,10
Binny Bansal leads ‘Flipkart Mafia’s Rs 7-cr funding in Crio
Founded in 2018, Crio counts companies such as Flipkart, Visa and software product firm Capillary among its customers.
Tracxn founder, ex-Flipkart HR head back CTO search startup
Purple Labs founder Deepak Singh Ahlawat also runs Anzy Careers, a recruitment firm that helps startups hire tech professionals.
View: Padman can be a role model for solving India’s huge job crisis
Proactivity, problem solving and entrepreneurship will have to be embedded in the curriculum of schools, colleges and vocational institutions.
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