Using Paytm Wallet to pay for Uber rides? The company has a message for you

Uber alters payment methods in India due to issues with Paytm Bank. Users won't be able to add money to their Paytm Wallets via the app from March 16, 2024, but existing wallet balances can still be used for Uber rides.Uber, a popular ride-hailing app in India, is switching up its payment methods because of some problems with Paytm Bank. Paytm Wallet has been a common way for people to pay for Uber rides, but now, because of issues between Paytm Bank and the Reserve Bank of India (RBI), Uber is making changes. Starting March 16, 2024, Uber won't let users add money to their Paytm Wallets through the app anymore. This is because the RBI, which regulates banks in India, has told Paytm Bank to stop certain services. However, if you already have money in your Paytm Wallet, you can still use it to pay for Uber rides even after March 16. Uber has been sending emails to its users to let them know about these changes. They're advising people who use Paytm Wallet on Uber to either make sure they have enough money in their wallets before March 15 or switch to a different way to pay for rides. In the email Uber sent out, they said: "According to the RBI's recent instructions, users won't be able to add money to their Paytm Wallets after March 15, 2024. But don't worry, if you have money in your wallet, you can still use it to pay for Uber rides after March 15, 2024."To make things easier for users, Uber is suggesting a few alternative payment methods. You can choose to pay for your Uber rides using Amazon Pay, Uber Cash, UPI, or Credit/Debit Cards. And of course, you can always pay with physical cash if that works better for you. If you're an Amazon Prime member, there's an extra perk for you. When you use Amazon Pay to pay for Uber rides, you'll get 5 per cent cashback on all your rides. Out of this, 4 per cent will be credited to your Uber account, and 1% will be given back to you as cashback in your Amazon Pay wallet. This can help you save money on future rides with Uber and also when shopping on Amazon.in. The decision to move away from Paytm Wallet comes as Paytm Bank faces challenges from the RBI. Uber wants to make sure its users can still easily pay for rides, so they're offering these alternative options. Make sure to update your payment method before March 16 to avoid any interruptions in your Uber rides.  

Netflix India expands horizon, promises diverse content lineup for 2024

Netflix India's Vice President of Content, Monica Shergill, revealed the streaming giant's ambitious plans to cater to a wider audience base in 2024 in an announcement this week. Highlighting upcoming projects like Sanjay Leela Bhansali's period spectacle "Heeramandi: The Diamond Bazaar" and the comedy show "The Great Indian Kapil Sharma Show," Shergill emphasised the platform's commitment to Indian content. "With 42 India titles trending globally on Netflix in 2022 and a staggering 62 last year, we've seen continued and consistent success with Indian content," Shergill told PTI. However, she acknowledged the unpredictability of achieving global phenomena like "Squid Game," stressing that such success ultimately hinges on audience reception. "As a creative executive, I would submit to the audience's love... All we have to do is really work hard, take bold bets, and make exciting content," she remarked, reflecting on the evolving tastes of viewers. Discussing the impact of the pandemic, Shergill noted how it provided ample time for audiences to explore content from around the world, contributing to Netflix India's phenomenal rise in 2023. The platform secured prestigious accolades, including an Oscar and an International Emmy, further solidifying its position in the industry. Looking ahead to 2024, Shergill promised an even more ambitious lineup, featuring diverse stories spanning different genres and formats. From the thrilling "IC814: The Kandahar Hijack" to the period film "Maharaj," starring debutant Junaid Khan, and Imtiaz Ali's unique take on the life of Punjabi singer Amar Singh Chamkila, Netflix India aims to captivate audiences with compelling narratives. Addressing queries about producing a global sensation akin to "Squid Game," Shergill likened such success to a "unicorn," acknowledging the industry's faith in Netflix's ability to deliver world-class content. The 2024 slate also includes a range of films and series, such as "Do Patti," "Murder Mubarak," "Phir Aayi Hasseen Dillruba," and "Wild Wild Punjab," along with unscripted titles like "Fabulous Lives versus Bollywood Wives" and the documentary "The Greatest Rivalry-India Vs Pakistan."  

Infosys executive says AI will directly impact jobs, companies will hire fewer employees in future

Ever since OpenAI introduced the world to ChatGPT in 2022, interest in generative AI has reached new heights. While some people feel that the emerging technology will prove to be beneficial for people and aid them in their day-to-day lives, there is another section of people who have been saying that it will take away human jobs. And an Infosys senior executive believes that generative AI will lead to decreased headcount in organisations. In other words, companies will be hiring fewer employees in the future thanks to AI.Satish H C, executive vice-president and co-head (delivery), said according to a Business Standard report, that because of new technologies like generative AI (artificial intelligence), companies will need fewer employees in the future. He added that this shift will happen gradually over the next three to five years. He further explained that as companies start using advanced technologies like generative AI more, they'll become more efficient, and that means they won't need as many people for traditional jobs. In simple terms, as technology becomes more important, companies might hire fewer people in the future, and this shift is expected to happen slowly over the next few years. In another interview with Reuters, the Infosys senior executive had said that the company was also turning out to be "AI first." He had said, "At Infosys, I don't think we were digital first. It took us a few years, but now that we have the hindsight of how we adapted to digital, we are adapting to AI much better and I think we are going AI first," he said.A few companies have already started replacing some of their human workforce with AI. One such company that recently made headlines for its automation success is Klarna, a Swedish financial technology company. The company revealed recently that its AI assistant has taken on the work that 700 employees used to do. This news comes a year after the company fired approximately a similar number of employees. The company had also faced massive criticism for the same. When Klarna faced staff reductions, CEO Sebastian Siemiatkowski pointed to economic uncertainties, worries about inflation, and the potential for an upcoming recession as reasons for the decision. Siemiatkowski had also received criticism for his handling of the situation, especially when he posted a spreadsheet on LinkedIn that listed the names of many laid-off employees. In response to questions from Fast Company about how the AI assistant's productivity in human terms was calculated, Klarna clarified that this metric had no connection to the earlier staff reductions.  

Phone with 28,000mAh battery showcased, Energizer says it can last for a week

While I saw a lot of innovative devices at this year's MWC 2024 tech show, the thing that I was not expecting to see here is a smartphone with a whopping 28,000mAh battery under the hood. Well, I think you might be as surprised as I was after finding out about it. Moreover, this one even has a rugged build quality and the company is claiming that it is shockproof as well as waterproof too. At MWC 2024, Avenir Telecom showcased it as an Energizer Hard Case P28K device.It is like any other traditional smartphone in the market, but with a much bigger battery and good build quality. It seems the device might not be for a regular consumer because it is very bulky and almost feels like holding a big stone in hand. But, it is a perfect device for workers, maybe, who work in places like mining and more. The smartphone won't die soon and will last for a week, something that they might want to have. It will also not get damaged because of water - all thanks to its support for IP69 rating. I do believe that its robust battery capacity comes at a cost in terms of size and weight. Weighing 570g and measuring 27.8mm thick, it's substantially bulkier than conventional smartphones. Nevertheless, it supports fast charging up to 33W, allowing for a full charge in under an hour and a half. The device runs on Android and has all the Google apps as well. Marketed as the ultimate endurance phone, this device promises an entire week of regular usage and with an IP69 rating, the company is ensuring durability in harsh environments. With talk time rated at 122 hours and standby time extending up to 2252 hours, it seems like a dependable companion for extended periods without access to charging points. In terms of specifications, the P28K offers entry-level features with no 5G support and a MediaTek MT6789 processor. It includes 8GB of RAM, 256GB of storage, a trio of rear cameras, Android 14, and a 6.78-inch 1080p LCD display. Avenir Telecom plans to launch the Energizer Hard Case P28K in October 2024, priced at EUR 249.99, targeting global markets excluding the US. While it may not appeal to those seeking sleek designs or cutting-edge performance, the P28K caters to a niche audience prioritizing endurance and reliability in their mobile devices.  

According to Meta, WhatsApps Third-Party Chats feature will maintain end-to-end encryption.

According to Meta on Wednesday, WhatsApp will take some time to roll out the third-party chat feature to users. The Digital Markets Act (DMA) of the European Union (EU) went into effect on March 6 and mandates that within three months, platforms provide messaging interoperability for individual conversations in the region. However, citing difficulties in implementing end-to-end encryption (E2EE) architecture for third-party providers, Meta stated that the messaging platform will require more time than anticipated. Additionally, the company stated that features like audio and video calling, group chats, and other features will only be available after 2024. In a thorough post, Meta explained how its interoperability features function, how it intends to integrate with other messaging services, and what obstacles stand in the way of it providing the feature to users by the deadline. The tech behemoth said that it has been working with the European Commission to develop an interoperability process that prioritizes safety and privacy for almost two years. The social media behemoth claims that the primary cause of the delay is interoperability's technical difficulties. However, it hopes to have voice messaging, individual text messaging, and the ability for end users to share images, videos, and other attached files by the end of the year. Meta stated that adding group chat and calling features is still in its plans, but it did not give a timeframe. Third-party providers will have to agree to allow third-party chats in order for interoperability with WhatsApp to be possible. "We would prefer that third-party providers use the Signal Protocol to maximize user security. We will, however, permit third-party providers to use a compatible protocol if they can show that it provides the same security guarantees as Signal, as this needs to function for everyone, Meta continued.  

Google Drive Enhances iOSs Video Playback and Search Functionality

A few updates to Google Drive will make the cloud-based storage platform more user-friendly. To increase the playback speed and rebuffering of videos played within Drive, the tech giant is implementing a new transcode. In order to help users find the desired file more quickly, it is also enhancing iOS's search capabilities and introducing query filters. Furthermore, Google is extending the Connected Sheets timeout period for Looker and BigQuery. Last week, the features were released. An announcement about the new features was made on the Google Workspace blog. The tech behemoth announced, "We're enabling the generation and playback of Dynamic Adaptive Streaming over HTTP (DASH) video transcodes for all new videos uploaded to Google Drive." in reference to improvements in video playback. Users can choose between playing content at a higher or lower resolution depending on factors like the quality of their local network thanks to DASH transcodes' adaptive bitrate playback feature. This will result in two changes for users. First, the video join time, or the amount of time it takes for a video to begin playing after the play button is pressed. Second, as the video plays, users will also experience less rebuffering. The transcode will be applied to existing videos by the end of the year, according to the company, but for now, it is only visible on newly uploaded videos to Google Drive. An update to Drive's search function is also coming, though it will initially only work with iOS users. Query filters will now be accessible to users while they search. Users can select File Type, Owners, and Last Modified to refine the search results by selecting these options, which will appear directly beneath the search bar. Users will also see relevant filters appear as they type a search query, making it easier for them to choose. Google is also including an option to further filter search results after a query in order to find the desired file. The company announced that Android will soon get the feature as well.  

Googles New Gemini AI Feature Will Allow Users to Customize Its Reactions

Google has updated Gemini, its chatbot driven by artificial intelligence (AI), with a new feature. With the new feature, users can modify specific text segments and have fine-grained control over the generated response to a prompt. Users have the option to remove the selected portion completely, change its length, or regenerate it. The feature has not yet been added to the app and is presently limited to the web app version. Notably, Google just revealed a number of brand-new AI capabilities for Android smartphones. Google wrote, "We're launching a more precise way for you to tune Gemini's responses," in a post announcing the new feature. Simply select the text you want to change, give Gemini some instructions, and get an output that is closer to your desired outcome in the Gemini web app, starting in English. The purpose of adding this feature is to give users more creative control by allowing them to alter a portion of the response rather than having it completely generated. After a generated response to a prompt, users have the ability to pick and highlight any specific portion of the text. If you highlight it right now, a pencil icon in a circle will appear. Adjacent to the pencil is the Gemini logo. When the cursor is over the icon, the text "Modify selected text" appears. Four options appear when you click on this icon: Regenerate, Shorter, Longer, and Remove. As the name implies, the options function. The text will be generated again after being modified using the regenerate function. The topic's length can be adjusted using Shorter and Longer, and it can be completely removed using Remove. Additionally, users have the option to add a prompt to change that specific section. It's a useful feature. Those who have worked with AI chatbots for some time know that frequently, a fantastic response is ruined by a single sentence. Up until now, the only ways to solve it have been to completely redo the content or alter the prompt, then keep doing so until the intended outcome shows up. Users may find that making fine-grained adjustments with this feature saves a significant amount of time. Follow Gadgets 360 on X, Facebook, WhatsApp, Threads, and Google News to stay up to date on the newest tech news and reviews. Subscribe to our YouTube channel for the newest videos on technology and gadgets. You can learn everything there is to know about top influencers by subscribing to our Who'sThat360 YouTube channel and Instagram account.  

Microsoft Unveils Copilot for Finance, an AI Solution to Simplify Tasks Associated with Enterprise Finance

Microsoft on Thursday unveiled Copilot for Finance, a new artificial intelligence (AI) tool designed to make everyday mundane tasks easier for financial professionals. The Copilot tool adds new features tailored to financial operations to the already-existing Copilot for Microsoft 365 stack, rather than creating a brand-new AI model. This AI tool, which focuses on enterprises, is currently in public preview. Notably, a recent update from the tech giant revealed additional features and significant enhancements for Windows 11.Microsoft presented its new AI tool in a blog post, pitching it as a means of allowing finance departments within businesses to focus on strategic tasks rather than tedious analysis and report writing. The business also cited a statistic from CFO magazine, stating that the "drudgery of data entry and review cycles" was cited by 62% of finance professionals polled as a reason they could not find time for strategic tasks. The tech giant claims that Copilot for Finance automates a number of financial tasks that would otherwise require users to put in long hours. It can accomplish a wide range of tasks, including using natural language prompts to conduct a variance analysis in Excel, reconciling data in Excel with automated data structure comparisons, giving a comprehensive summary of pertinent customer account details, transforming raw data into visuals and reports, and much more.  

This AI Worm Can Steal Data And Violate ChatGPT And Geminis Security

According to a report in Wired, researchers are now creating AI worms that can steal your private information and circumvent the security measures of generative AI systems like OpenAI's ChatGPT and Google's Gemini. The first generative AI worm, known as "Morris II," was developed by researchers at Cornell University, Technion-Israel Institute of Technology, and Intuit. It has the ability to spread malware and steal data from one system to another. It was given this name in honor of the very first worm, which was released online in 1988. "It basically means that now you have the ability to conduct or to perform a new kind of cyberattack that hasn't been seen before," explained researcher Ben Nassi of Cornell Tech. According to the outlet, the AI worm can get past some security measures in ChatGPT and Gemini by targeting a generative AI email assistant with the intention of sending spam and stealing email addresses. To create the generative AI worm, the researchers employed a "adversarial self-replicating prompt". They claim that in response to this prompt, the generative AI model generates an alternative prompt. In order to put it into practice, the researchers integrated ChatGPT, Gemini, and open-source LLM into an email system that could send and receive messages using generative AI. They also found two ways to use the system: one was to embed the question within an image file, and the other was to use a text-based, self-replicating prompt. In one instance, the researchers pretended to be attackers and sent an adversarial text prompt along with an email. By using retrieval-augmented generation, this "poisons" the email assistant's database and gives LLMs access to additional data from sources outside of their own. Retrieval-augmented generation, according to Mr. Nassi, "jailbreaks the GenAI service" when it retrieves an email in response to a user query and forwards it to Gemini Pro or GPT-4 for generation of a response. Eventually, this leads to data theft from the emails."The generated response containing the sensitive user data later infects new hosts when it is used to reply to an email sent to a new client and then stored in the database of the new client," he stated.  

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Connecting Local Environmental Factors With UFO Sightings?

UFOs, or unexplained aerial phenomena, have long been observed in the sky. Although preliminary research produced no solid proof, a recent study proposes a connection between sighting sites and their environs. After looking over two decades' worth of UAP reports, researchers discovered that locations with clear skies, low light pollution, and unhindered views had a higher frequency. There could be a number of reasons for this correlation, including better visibility that makes it possible to see more unusual objects. The study emphasizes how crucial environmental variables are to the analysis of UAP sightings.Investigating UFO sightings, researchers at the University of Utah sought to determine if there was a relationship between the location of sightings and the surrounding environment. They examined close to 100,000 National UFO Research Center reports over a 20-year period (2001-2020). For every county in the continental United States, they took into account two factors: the likelihood that something might be up there (airports, military bases) and how clear the sky is (light pollution, clouds, trees). Due to the wide open spaces and darkness in the western US, the results indicated a higher number of sightings. It's interesting to note that locations with heavy air traffic or a military presence were frequently hotspots for reports. This implies that individuals may be perceiving real objects but are merely unable to identify them. Lead author of the study and University of Utah associate professor of geography Richard Medina explained, "The idea is that if you have a chance to see something, then it's more likely that you're going to see unexplained phenomena in the sky." "With more technology than ever in the sky, one must wonder: What are people really seeing? Answering this question is difficult, but it's crucial since any ambiguity could pose a risk to national security."  

Following the intervention of the center, Google agrees to restore Indian apps.

A dispute over service fees led to the removal of Indian mobile apps from the Play Store, but Google has started the process of restoring them. According to sources, the decision was made following a meeting between IT Minister Ashwini Vaishnaw and company representatives. Ten Indian companies' apps were removed by Google on Friday, causing controversy in one of its fastest-growing markets. With 94% of phones running on its Android platform, Google commands a large portion of the Indian market. Popular names like Naukri and Bharatmatrimony were on the list.The main point of contention is Google's in-app purchase fees, which range from 11% to 26%. Indian startups have long opposed the US tech giant's actions, believing them to be unfair.The creator of Bharat Matrimony, Christian Matrimony, Muslim Matrimony, and Jodii, Matrimony.com, expressed shock at the matchmaking apps' removal from the Google Play Store. Murugavel Janakiraman, the founder, described it as a "dark day" for India's internet, highlighting the possible broad effects on matchmaking services."One by one, our apps are being removed. It literally means that all of the best matrimonial services will be eliminated," Mr. Janakiraman stated, according to Reuters. We possess an enormous and dynamic startup ecosystem. To ensure that this ecosystem is preserved, we must take all necessary measures. Google has embraced Indian technologies quite well. Before meeting with Google representatives, the minister told NDTV, "I am quite hopeful that Google will be reasonable with its approach." Due to some policy infractions, Google temporarily removed the well-known Indian payments app Paytm from the Play Store in 2020. Following the change, the founder of the business and the larger startup community banded together to take legal action against Google and launch their own app stores.  

Info Edges Naukri and 99acres taken down from Google Play Store

Google Play Store has removed Info Edge's Naukri and 99acres applications due to non-compliance with the tech giant's app billing policy for an extended period, according to Info Edge founder Sanjeev Bikchandani. The move is part of Google's broader initiative to eliminate apps from Indian developers that fail to adhere to its billing policies, reported Moneycontrol. JeevanSathi, the company's matrimony business, remains accessible on the Play Store as of the latest update. Despite complying with Google's app policies since February 9, following an interim order from the Supreme Court related to a case against Google's app billing policy, Naukri and 99acres, owned by Info Edge, have been removed from the Google Play Store. Sanjeev Bikchandani, founder of Info Edge, confirmed that all dues to Google have been paid promptly. The delisting appears to be a consequence of Google's ongoing efforts to enforce its app billing policy for Indian developers. Meanwhile, the Internet and Mobile Association of India (IAMAI) has issued a strong advisory to Google, urging the tech giant to abstain from delisting apps owned by Indian companies from its Play Store platform. This plea follows notices from Google, putting at least four Indian firms at risk of removal from the digital marketplace.  

Infosys executive says AI will directly impact jobs, companies will hire fewer employees in future

Ever since OpenAI introduced the world to ChatGPT in 2022, interest in generative AI has reached new heights. While some people feel that the emerging technology will prove to be beneficial for people and aid them in their day-to-day lives, there is another section of people who have been saying that it will take away human jobs. And an Infosys senior executive believes that generative AI will lead to decreased headcount in organisations. In other words, companies will be hiring fewer employees in the future thanks to AI.Satish H C, executive vice-president and co-head (delivery), said according to a Business Standard report, that because of new technologies like generative AI (artificial intelligence), companies will need fewer employees in the future. He added that this shift will happen gradually over the next three to five years. He further explained that as companies start using advanced technologies like generative AI more, they'll become more efficient, and that means they won't need as many people for traditional jobs. In simple terms, as technology becomes more important, companies might hire fewer people in the future, and this shift is expected to happen slowly over the next few years. In another interview with Reuters, the Infosys senior executive had said that the company was also turning out to be "AI first." He had said, "At Infosys, I don't think we were digital first. It took us a few years, but now that we have the hindsight of how we adapted to digital, we are adapting to AI much better and I think we are going AI first," he said.A few companies have already started replacing some of their human workforce with AI. One such company that recently made headlines for its automation success is Klarna, a Swedish financial technology company. The company revealed recently that its AI assistant has taken on the work that 700 employees used to do. This news comes a year after the company fired approximately a similar number of employees. The company had also faced massive criticism for the same. When Klarna faced staff reductions, CEO Sebastian Siemiatkowski pointed to economic uncertainties, worries about inflation, and the potential for an upcoming recession as reasons for the decision. Siemiatkowski had also received criticism for his handling of the situation, especially when he posted a spreadsheet on LinkedIn that listed the names of many laid-off employees. In response to questions from Fast Company about how the AI assistant's productivity in human terms was calculated, Klarna clarified that this metric had no connection to the earlier staff reductions.  

Phone with 28,000mAh battery showcased, Energizer says it can last for a week

While I saw a lot of innovative devices at this year's MWC 2024 tech show, the thing that I was not expecting to see here is a smartphone with a whopping 28,000mAh battery under the hood. Well, I think you might be as surprised as I was after finding out about it. Moreover, this one even has a rugged build quality and the company is claiming that it is shockproof as well as waterproof too. At MWC 2024, Avenir Telecom showcased it as an Energizer Hard Case P28K device.It is like any other traditional smartphone in the market, but with a much bigger battery and good build quality. It seems the device might not be for a regular consumer because it is very bulky and almost feels like holding a big stone in hand. But, it is a perfect device for workers, maybe, who work in places like mining and more. The smartphone won't die soon and will last for a week, something that they might want to have. It will also not get damaged because of water - all thanks to its support for IP69 rating. I do believe that its robust battery capacity comes at a cost in terms of size and weight. Weighing 570g and measuring 27.8mm thick, it's substantially bulkier than conventional smartphones. Nevertheless, it supports fast charging up to 33W, allowing for a full charge in under an hour and a half. The device runs on Android and has all the Google apps as well. Marketed as the ultimate endurance phone, this device promises an entire week of regular usage and with an IP69 rating, the company is ensuring durability in harsh environments. With talk time rated at 122 hours and standby time extending up to 2252 hours, it seems like a dependable companion for extended periods without access to charging points. In terms of specifications, the P28K offers entry-level features with no 5G support and a MediaTek MT6789 processor. It includes 8GB of RAM, 256GB of storage, a trio of rear cameras, Android 14, and a 6.78-inch 1080p LCD display. Avenir Telecom plans to launch the Energizer Hard Case P28K in October 2024, priced at EUR 249.99, targeting global markets excluding the US. While it may not appeal to those seeking sleek designs or cutting-edge performance, the P28K caters to a niche audience prioritizing endurance and reliability in their mobile devices.  

Vending machines at Canada University will be removed due to facial recognition technology.

A Canadian university is planning to remove several smart vending machines from its campus due to privacy concerns regarding the covert use of facial recognition technology. The controversy started, according to The Guardian, when a student took a picture of the snack dispenser showing the error message Invenda.Vending.FacialRecognition.App.exe. Neither the technology's use by the machine nor the presence of a camera tracking student movements and purchases were disclosed beforehand. Additionally, users weren't prompted for permission to scan or analyze their faces. "If not for the application error, we would not have known. According to the outlet, River Stanley, a student at the University of Waterloo who covered the discovery for the school newspaper, stated, "There's no warning here." The manufacturer of the devices, Invenda, defended the technology nevertheless. It stated that the technology complies with privacy regulations set forth by the European Union. Notably, the business boasts about using "demographic detection software" to ascertain the age and gender of its clientele. It's unclear if technology use complies with Canadian privacy laws.Adaria Vending Services' director of technology services defended the technology in a different context, stating that "an individual person cannot be identified using the technology in the machines".

Germanys Foundamental and Other Investors Provide Funding for Fashinza Cofounders Proptech Startup Marrfa

"SYNOPSIS: According to Jamil Ahmad, the funds will be utilized for tech innovation, hiring talent from other regions, and expansion throughout the UAE, Singapore, and Europe. Marrfa is a managed real estate marketplace with a comprehensive stack that seeks to democratize global access to high-yield investment possibilities. After serving in that capacity for almost four years, Ahmad resigned as chief business officer of B2B marketplace Fashinza in January of this year. Berlin-based VC company Foundamental led a pre-seed round that saw the undisclosed amount of investment raised by co-founder Jamil Ahmad of Fashinza's proptech startup, Marrfa. Angel investor Prashant Malik, general partner of US-based Tykhe Block Ventures, took part in the round as well. Working capital funding totaling $30 million has been obtained by Fashinza from Mars Growth Capital and Liquidity Group. By automating the whole debt lending cycle, Liquidity Group, a trailblazing technology company, has become the fastest-growing lender to mid-market and late-stage companies internationally. The money will support Fashinza's further development into an international company with major operations in the USA, the Gulf, and Europe. Fashion is always changing, but never more so as it is right now in the era of Instagram and Tiktok, which rapidly affect global fashion choices. Fashion brands need to have extremely effective supply chain management and be very nimble in order to stay ahead of the curve. If they continue to depend just on big manufacturers as they did in the past, this is not feasible. Fashinza offers a creative solution to this issue by putting SMEs in direct contact with leading global fashion brands. Through the development of an online marketplace that facilitates seamless connections between customers and sellers, Fashinza is transforming the fashion industry in the rapidly evolving digital era. ""The global fashion supply chain is changing because to Fashioninza. We were sufficiently confident in their ability to scale this business and sustain in the medium- to long-term based on their performance since inception, the strength of their founding team, and their current global network of manufacturers and customers ""said Navas Ebin, MD of APAC for Mars Growth Capital and Liquidity Group. The money will be used by Fashinza to cover its expanding needs for working capital on a global scale. ""Our capital is non-asset based and will hence support Fashinza to grow their business internationally in the most capital-efficient manner,"" stated Navas Ebin. ""Fashinza is a pre-unicorn with great potential and ambitions for the world. ""Investment Manager Nir Shmueli of Mars Growth Capital and Liquidity Group stated, 'The prospects for a long-term partnership with the company are exciting. We have been helping companies like Fashinza transition into becoming truly global businesses."" "

In light of Paytm and Byjus worries, a government committee is expected to finalize the startup regulatory framework in two months.

According to officials in the Ministry of Finance, the Ministry of Corporate Affairs is taking a close look at big, unlisted companies in the wake of recent regulatory issues at Byju's, Paytm Payments Bank, and BharatPe.To create a regulatory framework for large unlisted startups, the government-appointed Company Law Committee met last month and is set to meet again soon.This program supports the government's objective of encouraging startup expansion in the face of corporate governance and regulatory obstacles that large companies such as Byju's and Paytm Payments Bank must overcome.Supervising businesses not directly under the purview of the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) is the aim of this regulatory framework."We are speeding up the report and conducting an ongoing inspection against Byju's." If the Reserve Bank of India contacts us about Paytm Payments Bank, we would look into it," the official said.According to the insider, BharatPe recently received a new notification from the Delhi Police's Economic Offenses wing requesting further information on the findings in a status report.According to sources, the committee is also evaluating standards and guidelines for board directors and investors in order to improve control without placing an excessive regulatory burden on them.The Committee, which is led by the corporate affairs secretary, is made up of specialists, government representatives, and members of the business community. Its main goal is to make conducting business easier while ensuring that the Companies Act of 2013 and the Limited Liability Partnership (LLP) Act of 2008 are implemented effectively.A private company incorporated under company law and recognized as such by notification from the Department for Promotion of Industry and Internal Trade (DPIIT) is considered a startup.In the midst of the Paytm Payments Bank Ltd. crisis, Institute of Chartered Accountants of India President Ranjeet Kumar Agarwal announced on Sunday that the fintech company's problems may be discussed by the financial reporting review board (FRRB) soon. The tech-based education unicorn Byju's accounts are presently being reviewed by the statutory body's FRRB due to purported governance concerns, and the process is going smoothly, according to the president of ICAI."We haven't thought about the PayPal issue up to this point, but the FRRB board meeting is coming up, and when it does, it will discuss taking necessary action. In regards to this topic, we haven't made any decisions thus far," ICAI President Ranjeet Kumar Agarwal stated to PTI in an interview.According to him, newly elected ICAI committees, such as FRRB, are anticipated to convene in March. Remarkably, because of purported regulatory concerns, the Reserve Bank of India, which oversees the banking industry, has already placed limits on Paytm Payments Bank Ltd.According to him, the FRRB will decide whether further examination of the books is required in light of the claims of regulatory violations and how they affected the payment bank's accounting. "The board has the authority to decide who gets reviewed and when. Its system is strong," declared the recently elected head of ICAI. When asked if the ICAI was anticipating a complaint about Paytm, Agarwal responded, "The institute has the authority to take action both through complaints and suo motu." It was suo motu in the instance of Byju."Speaking on behalf of Byju, he stated that "the report is expected by the end of this year" and that the board's scrutiny process is "going well." "The board has a three-tier structure—technical, group, and finally the board review," the ICAI chief stated while describing the FRRB organization. He asserts that the FRRB has the authority to examine the financial statements of publicly traded corporations.

Shark Tank judges gave Rs 2 Cr to ReFit Global, a D2C reconditioned marketplace.

ReFit Global is a direct-to-consumer (D2C) marketplace for refurbished items. Anupam Mittal, Vineeta Singh, and Amit Jain are among the Shark Tank judges who have donated Rs 2 crore at a valuation of Rs 200 crore.The funds raised will be used to improve operations, broaden the company's market reach, and fortify its technological foundation. ReFit Global also hopes to enhance its web presence and client satisfaction.Saket Saurav and Avneet Singh launched ReFit Global, which runs a network of over 50,000 stores in nearly 100 locations. The startup intends to become a profitable enterprise worth at Rs 1,000 crore within the next five years."Building a strong alliance with a broad collection of skilled sharks, each offering their own ideas and knowledge, was our main goal. The goal of this opportunity is to provide ReFit a more distinct vision and market positioning, according to ReFit Global CEO and founder Saket Saurav.Saket Saurav and Avneet Singh launched ReFit Global. On Shark Tank India Season 3, the direct-to-consumer (D2C) refurbished marketplace ReFit Global raised Rs 2 crore at a valuation of Rs 200 crore.three days beforehandReFit Global, a well-known direct-to-consumer (D2C) marketplace for refurbished goods, has secured $2 million at a valuation of $200 million from renowned Shark Tank judges, such as Amit Jain, Vineeta Singh, and Anupam Mittal.The organization intends to carefully allocate capital to enhance its technology infrastructure, broaden its market reach, and expedite operational expansion. To further consolidate its place in the market, ReFit Global also hopes to improve client satisfaction and its online presence. ReFit Global, which was co-founded by Saket Saurav and Avneet Singh, has a strong network of more than 50,000 shops in about 100 locations. Within the next five years, the firm is determined to reach a significant milestone: becoming a profitable entity valued at Rs 1,000 crore.ReFit Global's founder and CEO, Saket Saurav, stressed the strategic importance of forging a vibrant alliance with a varied collection of skilled sharks, each of whom brings a special set of views and knowledge. He eagerly took advantage of this chance to improve ReFit's positioning in the industry and sharpen its vision.ReFit Global, a bootstrapped company, takes great pleasure in its extraordinary growth trajectory, having secured Rs 200 crore in FY23 and achieved an amazing 100x year-over-year growth.ReFit Global has reached a major milestone with the successful investment in Shark Tank Season 3, setting the company up for future growth and success in the competitive reconditioned market.One of the leading companies in the Direct-to-Consumer (D2C) refurbished sector is ReFit Global. By obtaining Rs 2 Crore in finance at an astounding valuation of INR 200 Crore, it accomplished a noteworthy milestone. This achievement was made possible by the sharks on the panel during their riveting Shark Tank India Season 3 pitch, where they acknowledged the potential of ReFit's business plan.