Author: Editorial Team

Food delivery company Zomato and financial tech company Paytm have confirmed they are in talks about Zomato acquiring Paytm’s movies & events business. Both companies mentioned this in official statements on Monday. Zomato said, “We are discussing this deal with Paytm, but no final decision has been made yet that needs approval from our board or requires a formal announcement.” These talks are part of their plan to strengthen their entertainment-related services. Zomato to Acquire Paytm’s Movies & Events Business Zomato is in talks with Paytm about buying its movie and ticketing business to strengthen its entertainment services. Both companies…

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Google launched the Gemini mobile app in India specifically for Android users. This app is designed to be accessible in nine Indian languages in addition to English. Google CEO Sundar Pichai announced on X (formerly Twitter) that the new app is a big step towards making a smart and helpful AI assistant. The goal is to make it easy for users to interact and get help in different ways. He also highlighted that Google plans to extend support for these local languages to Gemini Advanced, introduce new features, and integrate Gemini into Google Messages, initially in English. This initiative aims…

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Fitch Ratings recently upgraded India’s economic growth forecast for the current fiscal year, which means the period from April 2024 to March 2025. Fitch has raised India’s growth estimate to 7.2%, up from their previous estimate of 7%. This revision is due to consumer spending improvements and higher investment levels across various sectors. Moreover, Fitch has projected growth rates of 6.5% and 6.2% for the fiscal years 2025-26 and 2026-27, respectively. This indicates Fitch’s expectations for the pace of economic expansion in India over the next few years, reflecting their assessment of factors like consumer behavior, business investment trends, and…

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Vodafone Idea (Vi) is India’s third-largest telecom operator. According to reports, Vodafone Idea seeks a Rs 23,000 crore term loan and an additional Rs 10,000 crore in bank guarantees. This funding is crucial for Vi’s strategy to compete with larger telecom rivals like Reliance Jio and Bharti Airtel. Both Reliance Jio and Airtel have already deployed pan-India 5G networks. Vi Plans Major 5G Rollout While Prioritizing 4G Expansion Vi has been contemplating a significant rollout of 5G services over the next six months. The company plans to invest between Rs 50,000 crore and Rs 55,000 crore over the next three…

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According to sources, Oyo secured Rs 1,000 crore in funding from the Indian family offices of top Indian corporate executives and stock market experts. Expected investors include corporate strategy advisor and former Reliance Industries senior executive Anand Jain, Mankind Pharma promoters Ramesh and Rajeev Juneja, and Utpal Sheth, a close associate of the late market expert Rakesh Jhunjhunwala. Family offices are becoming a key source of capital for modern companies. Oyo, which recently withdrew its IPO application, will hold an extraordinary general meeting (EGM) on Tuesday to approve the fundraising after increasing its authorized share capital. The Economic Times has…

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A fintech SaaS startup, Prosperr.io, has secured INR 12.9 crore (approximately $1.55 million) pre-seed funding to revolutionize taxation with AI-powered solutions. Gokul Rajaram, a board member at Pinterest and Coinbase, led the funding, which was participated in by angel investors Vinodh Bhat from JioSaavn, Ramakant Sharma from Livspace, and Kunal Shah from CRED. Based in Bengaluru, Prosperr.io plans to use the funds to develop its AI-driven Tax Advisor and create a platform for optimizing taxes, catering to users in India and internationally. Prosperr.io’s Mission and Products Prosperr.io, a Bengaluru-based fintech startup, aims to achieve an annual revenue of $100 million…

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The animated film ‘Inside Out 2’ had an incredible start at the North American box office, earning a massive $155 million in its first weekend. This impressive debut makes it the second-biggest opening in Pixar’s 29-year history. The only Pixar movie with a bigger opening weekend was ‘Incredibles 2’, which made $182.7 million in 2018. ‘Inside Out 2’ explores the ups and downs of teenage life. It has resonated with audiences, making it a major success right from the start. Inside Out 2 Breaks Records with Huge Opening ‘Inside Out 2’ had an amazing start at the box office, making…

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The Advertising Standards Council of India (ASCI) has suggested that advertisers and broadcasters should not release new advertisements between June 18 and July 9. This recommendation is due to uncertainty surrounding a Supreme Court decision requiring a self-declaration certificate (SDC) for new ads. According to a directive from the Ministry of Information and Broadcasting (MIB), following the Supreme Court’s instructions, advertisers must provide an SDC before publishing, airing, or displaying any new advertisement starting June 18. Existing advertisements can continue as usual, as the SDC requirement applies only to new ads. Ambiguity Surrounds Self-Declaration Certificate (SDC) Mandate The Advertising Standards…

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The Enforcement Directorate (ED) searched 19 locations in Mumbai and Pune related to the Fairplay App money laundering case. They seized assets worth INR 8 Cr, including documents, digital devices, cash, bank funds, demat account holdings, and luxury watches. Fairplay App, part of the Mahadev Book app network, is suspected of illegal activities like broadcasting cricket/IPL matches and online betting, including results of the Lok Sabha Elections 2024. The investigation began after a complaint from Viacom18 Media Private Limited led to an FIR by the Nodal Cyber Police in Mumbai. ED Uncovers Money Laundering in Fairplay App Case The FIR…

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Bollywood actress Shilpa Shetty and her husband, businessman Raj Kundra, have been accused by Prithviraj Saremal Kothari, a prominent bullion trader in Mumbai, of orchestrating a fraudulent scheme. According to the complaint filed, Shilpa Shetty, Raj Kundra, and their associates allegedly operated a company through which they enticed investors with promises of substantial returns on investments in gold. However, it’s claimed that these promised returns were not delivered as per agreements, leading to accusations of cheating. In response to the seriousness of these allegations, the Mumbai Sessions Court has intervened, directing a comprehensive investigation into the matter to determine the…

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