Business, Governance, News

Marketwire – Government to Soon Make Cashless Payment of Salaries Mandatory & More

cashless salaries

Marketwire is a quick summary of notable market movements in the technology industry.

Government to Soon Makes Cashless Payment of Salaries Mandatory

Payment of Wages (Amendment) Bill 2016 is being prepared for the Cabinet, to make cashless payment of salaries mandatory for certain industries. The new bill will mostly impact factory and industrial workers, whose monthly salaries don’t exceed Rs 18,000. Once the ‘The Payment of Wages Act, 1936’, is amended, payment of salaries would be allowed only via cheque or any electronic means. Read More

Tata Group’s eCommerce Arm Launches CLiQ Luxury

eCommerce store Tata CLiQ has entered online luxury retail segment with the launch of a new site ‘CLiQ Luxury’. It will sell products from high end brands like Coach, Michael Kors, Hugo Boss, Armani Jeans etc. The company operates in an omni-channel model, and claims to be delivering to 6000 pin codes across country. Read More

BigBasket to Expand its Private Labels to Grow its Margins

Grocery eCommerce firm BigBasket is now planning to launch its own private labels in non-food items category. The move will help the company in increasing its margins by gradually selling and promoting its own products. BigBasket works on an inventory model, and has its own brands like Tasties, Royal and Lindberg for different for the food items. Read More

Quikr Launches Recruitment Consultants Marketplace QuikrJobsPro

For the companies which are looking to outsource their recruitment processes, Quikr Jobs has created a platform called QuikrJobsPro. The new service will allow firms to select and engage recruitment consultants. It will be based on a success fee model, and both the parties will have access to a dashboard of candidates. Read More

Delhivery’s Revenue Grew 2 Folds in FY15-16

eCommerce logistics firm clocked Rs 495 crore in revenue in FY15-16, almost a 2X growth from Rs 228 crore it generated in the previous financial year. Company’s CEO Sahil Barua says that they are going to become profitable on per parcel basis, by the end of this month. He adds that the company is about to hit Rs 816 crore in revenue in FY 2016-17. Read More

Freecharge Launches e-Wallet Protection Plan

Snapdeal – owned Freecharge, has launched an insurance policy of sorts in partnership with Reliance General Insurance Company. The wallet insurance policy will insure the wallet balance of monthly active Freecharge users for upto Rs 20,000. This will come in handy in case of a phone theft or loss, particularly if it’s not password protected. Read More

Amazon to Invest More in its Indian Business in 2017

Amazon, which recently infused Rs 2010 crore in its Indian arm, is planning to invest more in the coming year. The company has invested close to $2 billion till date, and had shared in June 2016 that it will put in another $3 billion to grow its operations in India. Read More

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