Paytm’s plea for payment aggregator licence rejected by RBI

Paytm is the only significant player in payment gateways to encounter a regulator rejection. The regulator has given the go-ahead in principle to incumbents including Razorpay, Pine Labs, Cashfree, and CCAvenues, while BillDesk and PayU are still awaiting a response.

A Paytm spokesperson said, “The RBI has not rejected our application, but has simply asked us to reapply in 120 days.”

Jio launches 5G services in all 33 district headquarters in Gujarat

Gujarat becomes the first state to offer 5G connectivity to all district headquarters, and this will mark the largest trial-scale rollout of the newest technology to date.

The company’s “True 5G”-powered programme called “Education-For-All,” in which Reliance Foundation and Jio are collaborating to first digitise 100 schools in Gujarat, marks the beginning of the company’s service debut in the state.

Ultraviolette launches F77 electric sportbike in India at Rs 3.8 lakh

The F77 and the F77 Recon, each priced at Rs. 3.8 lakh and Rs. 4.55 lakh (ex-showroom), respectively, will be available for purchase.

Additionally, there will be a F77 limited edition, of which only 77 will be produced. For exclusivity, these models will be given numbers 001 through 077. The price of the limited edition model is Rs. 5.5 lakh (ex-showroom).

PhonePe looks to acquire BNPL startup ZestMoney

It would probably be a “distress sale,” and ZestMoney’s valuation might be considerably lower than it was in its previous fundraising round last year, when it was estimated to be worth about $400 million.

Over the past two months, the BNPL startup has held discussions with more prospective purchasers as its liquidity runway has shrunk and it has been unable to get funding.

Tata Tiago EV bookings surpass 20,000 in a single month

Tata chose to extend the introductory cost for the following batch of 10,000 automobiles because the initial 10,000 cars were sold out in just one day. Beginning in January 2023, Tiago EV deliveries will begin.

The Tiago EV was introduced by Tata Motors on September 30, 2022, in India. Starting at Rs 8.49 lakh, the Tiago EV is the brand’s most inexpensive all-electric vehicle (ex-showroom).

MAARG Portal has opened up startup applications for registration

The DPIIT has issued a call for startup applications for registration on the MAARG site, the National Mentorship Platform by Startup India, in an effort to boost the startup ecosystem in the nation.

In this regard, the MAARG portal serves as a one-stop platform to provide mentorship for entrepreneurs across various industries, roles, stages, and backgrounds.

Meesho joins ONDC with an aim to boost hyperlocal businesses

The integration is intended to broaden the market for hyperlocal providers while assisting in the discovery of products. Meesho has currently eight lakh registered sellers on its platform.

The pilot will be introduced in Bengaluru first before being gradually expanded to other cities over the next months.

Your favourite UPI app may soon start imposing transaction limits

The National Payments Corporation of India (NPCI) and the Reserve Bank of India are now in discussions over the implementation of the proposed December 31, 2022 deadline for reducing the volume cap.

Currently, there is no volume cap. But, the NPCI suggested a 30% volume cap for third-party app vendors (TPAP) in November.

Lighthouse India offloads Nykaa shares worth Rs 335 crore

Lighthouse India Fund-III previously sold shares in Nykaa for Rs 525 crore. Other previous sellers included Segantiii India Mauritius and the American private equity firm TPG.

A handful of pre-IPO investors have begun selling the assets they had been holding since the lock-in expiry earlier this month. Mala Gopal Gaonkar, an NRI investor, sold 5.75 billion shares of Nykaa last week.

Zomato co-founder Mohit Gupta leaves the firm after nearly five years

Mohit Gupta, the co-founder of Zomato, has left the company after working there for four and a half years. This is the third high-profile departure from the delivery startup in recent weeks.

In 2018 Gupta became the head of food delivery at Zomato. After Ganjoo became the CEO of food delivery in 2021, he was promoted to co-founder.

Reliance Jio True 5G goes live in Delhi-NCR

On November 18, Jio began rolling out its True 5G network to major cities in the national capital region, including Delhi, Faridabad, Gurugram, Ghaziabad, and Noida.

Jio True 5G will be made available in the majority of residential areas, as well as in public buildings, high-traffic areas like hotels and tourist attractions, as well as in hospitals, schools, colleges, and universities.

100 space startups are now working with ISRO

With 100 companies, ISRO has inked an agreement outlining close collaboration and hand-holding throughout the entire space technology and development process.

ISRO acts as a connector for entrepreneurs and assists in the development of technology. At least 10 of the 100 start-ups are engaged in the development of satellites and rockets.

India has over 1.2 billion mobile phone users, 897 TV channels, and 350 news channels

According to Apurva Chandra, secretary of the Ministry of Information and Broadcasting, India has more than 1.2 billion mobile phone users and 600 million smartphone users.

The Secretary stated that 897 television stations, including more than 350 news channels, and more than 80,000 newspapers published in a variety of languages make up India’s traditional media.