#BigDaily: Many countries have cautioned on rushing into crypto currencies: Nirmala Sitharaman


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It’ll take BigBasket rivals a year to build supply chain capabilities: Hari Menon

Amazon and Flipkart will take at least a year to scale up their supply chain capabilities to sell groceries and fresh food online across top cities, but the ecommerce rivals’ intent to double down on the sector will set the market for growth in the next few years [Hari Menon, CEO, BigBasket, via]

Who do you love?

5 Questions Amazon and Flipkart have been asked by the govt

Amazon and Flipkart have been asked to disclose names of top five sellers on their platform, price list of goods of preferred vendors and the kind of support provided to sellers, according to sources.

The Department for Promotion of Industry and Internal Trade (DPIIT) in separate questionnaires to these companies have also asked them to share their capital structure, business model and inventory management system [via]

Either you are with me…or..

Whoever has not joined back (Gold) is bleeding

A lot of restaurants which had left are now back on Gold. The campaign is mostly being led by five restaurant brands. Whoever has not joined back is bleeding,” Deepinder, Zomato founder asserted.[via]

Noida’s EV infrastructure plans finally gets into next gear

The Noida Authority has finally stepped up the process to switch to clean energy vehicles. It has procured five EVs on a rental basis from Energy Efficiency Services Limited (EESL).

According to an MoU signed earlier between the city authority officials and EESL, EESL will set up 100 EV charging stations in the city. As of now, there is only one such station in Noida.[via]

Rich gets richerrr..

No MDR on digital payments to companies with Rs 50 crore turnover

Keen to promote digital payments, the government on Friday said banks or other payment system providers will not impose charges, or merchant discount rate (MDR), on customers as well as merchants on digital payments made to establishments with turnover in excess of Rs 50 crore from November 1.[via]

That is, rich gets richer and poor gets…poorer.

To quarter or not:

Infosys CEO Parekh faces financial fudging allegations

In the letter to the board of the Infosys, the employees of Infosys have alleged that they were told not to reports costs in recent quarters in a bid to inflate profits.

“We have high respect for all of you and bring to your notice unethical practices of CEO in the recent quarters… In the last quarter, we were asked not to fully recognise the costs like visa costs,” [reads the letter from Infy employees, via]

On New Money:

Many countries have cautioned on rushing into crypto currencies: Nirmala Sitharaman

“Some of them (countries) of course even suggested that they shouldn’t be using, all of us shouldn’t be using the name stable currency because that’s the expression they used. Many cautioned to the extent saying even the name should not be stable currency, it should relate to virtual currency or something of the kind,” she said [via]

India has banned crypto currencies.

On Gas inside your food:

Zomato, BioD Energy tie up for cooking oil-to-biodiesel project

Zomato and biodiesel manufacturer BioD Energy have inked a partnership to collect used cooking oil from restaurants around the country so that it can be converted into biodiesel, which will then be sold to oil marketing companies that will blend it with regular diesel.

“The idea was to look at some of the deep-rooted problems in the restaurant industry that affect health and the environment,” Ritesh Khera, spokesperson at Zomato, said in an interview. “We are looking at one of the biggest culprits in the industry, which is used cooking oil and are trying to solve the main problem of the responsible disposal of it.”

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