Dec 30, 2015 - Online rental firm Roomys to raise $1 million in three months

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Sree Vijaykumar From the Editor's Desk It's perhaps a sign of our hyper-competitive times that international car companies are falling all over each other in announcing when they will launch fully autonomous cars. Wait, wasn't this supposed to be a breakthrough technology pioneered by Google, still very much in the R&D phase? Suddenly, everyone from Tesla to Nissan to Toyota is giving estimated dates of launch for their automated cars. What about the regulators? What about the ethical dilemma when a car is in the situation of an unavoidable accident? What about public opinion, when such a case does eventually arise? There's a lot that needs to be resolved before autonomous cars become a regular feature on roads. And that's just in the developed world. The developing world training data set is something else Indian road conditions could easily because Google's self-driving car to self-destruct! - Comment Online rental firm Roomys to raise $1 million in three months This is the first major round of fundraising for the company, which earlier got about $1,00,000 from angel investors. Advt:Affordable Housing Schemes in Dubai with Post hand over payment plans Affordable Housing Schemes in Dubai with Post hand over payment plans With Arundhati Bhattacharya completing her term in 2016, SBI hot seat up for grabs Anshula Kant, Dinesh Khara and Praveen Kumar Gupta are the aspirants for the top post at State Bank of India. Another sluggish quarter for banks? The banking index has underperformed the Sensex, reflecting concerns over asset quality and expectations of sluggish profitability in December quarter How Manmohan Singh paved the way for computerisation of banks By 1994-95 and in the years that followed, the newly licenced private banks in India leveraged technology in a big way, differentiating themselves from state-run banks. Why the payment bank ecosystem looks up to these men? The RBI gave out 10 small finance bank licences mostly to micro finance institutions including Utkarsh Micro Finance, Ujjivan and Au Financiers. Will Raghuram Rajan get another term as RBI Governor? Just a look back at Rajans debut speech at the RBI on September 4, 2013 could show what is still left to be done at the banking regulator. India’s share of world market capitalization lower than GDP share India’s share in world GDP has inched up close to 3%, but its share in world market capitalization is lower at 2.3%, down 10 basis points from a year ago United Spirits seeks shareholders’ nod to report sick to BIFR Move comes as United Spirit’s accumulated losses as on 31 March have touched 86% of peak net worth during the past four fiscal years Government to push cooperative banks to get note-sorting machines in a bid to curb fake currency In a meeting between banks, finance ministry and intelligence agencies, it was observed that a number of branches do not have such machines. Bumper raises $500,000 in seed funding from SAIF Partners, others Bumper plans to use the money to expand technology teams and on customer experience solutions Link all credit accounts to biometric identifier: RBI A Reserve Bank of India panel has recommended that banks open a separate window offering interest-free deposits and advances to address financial exclusion based on faith. SpiceJet to raise funds worth up to Rs5,000 crore At SpiceJet’s annual general meeting, shareholders also approve the appointment of promoter Ajay Singh and his wife Shivani Singh as directors Investors give up rights for shares in startups Institutional investors began buying common stock—generally owned by employees of startups—often directly from workers or from platforms that sell employee shares Foodpanda fires over 500 employees, will stop own delivery in six cities The layoffs have taken place across sales, marketing, vendor service, customer delight, business intelligence and call centre Housing.com begins stake sale talk with Snapdeal, News Corp; deal possible by second quarter of 2016 The Mumbai-based company is searching for backers to recover from a year of turmoil which has hurt its standing in the online real estate market. BNP to swap joint venture stake for 5% in Srei Infra French bank has invested at least Rs925 crore in the JV so far, while the 5% stake in the parent firm is worth Rs150 crore currently Wallet Patents: After FreeCharge, Mobikwik files patent for power wallet platform that integrates with payment platform of retailers This comes soon after Snapdeal-owned Free-Charge indigenously developed an authentication alternative to the SMS-based one-time-password. Amazon and Alphabet cap record-busting 2015 with new all-time highs A record-breaking 2015 for Amazon.com Inc. and Alphabet Inc. is closing with more of the same. Flipkart's book sales doing fine, paperbacks fight off competition from devices Now one of the country’s largest e-commerce players, Flipkart kicked off business i Apparel businesses are fairly commoditised: Analyst Anand Tandon "The market continuously remains fairly fragmented whether you take an Arvind or you take an Aditya Birla Group company or you take a Raymond." Spanish retail hiring growth returns to pre-crisis levels Hiring by up was up 1.8 per cent year on year, data from the National Statistics Institute (INE) showed on Tuesday, a pace last reached in December 2007. Among EMs, mobile broadband least affordable in india Although prices of telecom services are lower in absolute terms compared to other emerging market and developed economies, they are much higher in terms of GNI per capita. Fear of Facebook colonising digital space looms over IT capital Bengaluru, the information technology capital of India, is vehemently opposing social network Facebook’s controversial Internet service as it fears a ‘digital colonisation by the West.’ The people India may have 50 crore internet subscribers in 2016: Telecom Min NEW DELHI: Indian telecom Minister Ravi Shankar Prasad said that Mahanagar Telephone Nigam Limited (MTNL) customers can enjoy pan-India free incoming ... A year in review : 2015 for telecom industry, full of Ups and downs It was a towering feat for the telecom industry in 2015 to cross 100-crore subscriber mark, but the call-drop menace spoiled the party and the operators are now pulling up their socks to face greater competition with the imminent entry of Reliance Jio in 2016. Telecom Firms Cross 100-Crore Subscribers Mark But Call-Drops Spoil Party It was a towering feat for the telecom industry in 2015 to cross 100-crore subscriber mark, but the call-drop menace spoiled the party. 2016 looks to be another year of strong evolving opportunities Given the positive GDP growth projection of above 6.4% from IMF, 2016 looks set to be another year of strong but evolving opportunities for the Indian.. Lack of data airwaves pushes Telenor India into a corner Sources say its talks to buy Videocon Telecom's airwaves in two circles as well as those with the Tatas have run into valuation hurdles. Chetan Bhagat is the most loved author on Flipkart; Shilpa Shetty Kundra emerges as the top-selling non-fiction writer Shilpa Shetty Kundra emerges as the top-selling non-fiction writer Chinese mobile makers to feel heat as e-com discounts end: Micromax In October, top Chinese vendors such as Lenovo, Xiaomi and Vivo witnessed a healthy month-on-month sales growth of 18% Myntra to pilot a programme to help large brands to drive the latters offline sales through a multi-channel approach Indian retailers have already begun to look at merging the offline and online experiences Delivery boys suffer back problems: The backbone of Indian e-commerce boom faces serious breakdown As ecommerce companies try to meet the dearth of feet on the ground and wheels on the road, the pressure is building on delivery boys. Sebi eyes e-tail for mutual funds; To clear the decks for mutual funds via e-commerce at an out-of-turn board meeting next month To clear the decks for mutual funds via e-commerce at an out-of-turn board meeting next month Xolo, sub-brand of homebred handset maker Lava International sees slumping sales : Triggers restructuring and employee exits Its performance has been a drag on the parent, which, some estimates show, has dropped two positions since last year to the No. 5 spot. IT growth from 2015-17 will be secular and holistic across verticals, says Nasscom chief "Startups can innovate at a faster pace than large companies, and often have the perfect size and culture to breed new technology and ideas." Nine startup founders including Zomato, Paytm, Mouthshut.com appeal TRAI to preserve open internet In a letter, addressed to Telecom Regulatory Authority of India Chairman RS Sharma, the nine founders made an appeal to preserve the open nature of the internet. Investment in Indian start-ups at $5.18 billion in 464 deals Nearly two thirds of the investments or 632 deals were made by angel and seed investors Cisco wins US patent dispute over Wi-Fi technology Cisco Systems Inc did not infringe a patent holding company's Wi-Fi technology, a US appeals court ruled on Monday, reversing a near $64-million judgment against the networking equipment maker in the long-running patent dispute. Twitter will provide real-time public transport information The Delhi government has tied up with Twitter to bring real-time information on public transport for commuters on the social media during the 15 days the odd-even scheme is implemented. US court asks Indian company to pay $100000 for using pirated software Headquartered in Madhya Pradesh's Indore, Pratibha Syntex Ltd exports cloths to top American companies including Walmart. 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