Axis Bank has started a range of wearable payment electronic devices like wristbands,  keychains and watches loops that can facilitate contactless payments without a card or a smartphone. 

The private bank has a partnership with Thales and Tappy Technologies to design and develop these amazing electronic products, which are exclusively available on the Mastercard platform and are available at a price point of Rs 750.

The electronic wearables are directly linked to the customers’ bank account and work like a regular debit card and can be used with any merchant, who accepts contactless transactions.

Warren Buffett, also known as the Oracle of Omaha, has become the sixth member of this elite club. Warren Buffett on Wednesday joined the small circle of executives who are worth more than $100 billion, as per a report published by Forbes magazine. 

Warren Buffett, the 90-year-old is the chairman of investment company Berkshire Hathaway, has seen the company’s share amount reach a record level, taking his wealth over the $100 billion mark. And this is the first time that Warren Buffett net worth has crossed the USD 100 billion threshold.

On Friday the Rs 600-crore IPO for MTAR Technologies, a Hyderabad-based precision engineering solutions company, got closed having subscribed for 201 times, making it the fifth most subscribed offer since 2000.

The institutional part of the IPO was subscribed almost 165 times. The non-institutional investors’ portion, also called high net worth individuals, was subscribed over 650 times and the retail portion over 28 times. This was the highest ever subscription to an IPO of the size of over Rs 200 crore and one of the highest ever in the manufacturing sector, merchant bankers said

In the middle of falling interest rate, the Employees Provident Fund Organisation (EPFO) has managed to hang on to an 8.5% rate for the current financial year, giving relief to its around five crore active subscribers. Many will kick hard by the government’s move to tax returns if contributions top Rs 2.5 lakh annually.  

On Thursday The government said that EPFO has extended its coverage to establishments in Jammu and Kashmir and Ladakh after the implementation of the EPF & MP Act to the two Union Territories from the end of October 2019.

As pandemic made everything app-based online services a part of daily lives, Dunzo, the huge player in the segment, performed gross margin profitability for the first time last year, and also doubled its annual active customers base from 2.7 to 5.1 million from the year 2019 to 2020. 

In 2020, Dunzo also came in the new B2B business line wherein the firm now offers its delivery capabilities and resources to local merchants for their logistics requirements. The firm is also getting ready for a new category starting next month that can attract mass and regular usage by customers.

Fintech unicorn Razorpay is buying back shares worth $10 million, or around Rs 73 crore, from its staff under the ESOP (Employee Stock Ownership Plan) pool. Razorpay, which attained the valuation of $1 billion last October, said 750 of its current and former employees, are eligible to sell 33% of their allocated ESOP shares in this exercise. 

Company co-founder and CEO Harshil Mathur said this is the third time they are doing this since the company started “Typically, anyone who has spent more than a year with us holds these stocks. It’s a good opportunity for wealth creation among our staff,” he said. Prior to this, it bought back ESOPs worth $10 million in two tranches.

India was among the fastest-growing markets for Twitter in the month of October-December quarter of 2020 as monetizable Daily Active Usage (mDAU) of the internet community grew 74% year-on-year in the country during the time.

Twitter recorded 84% YoY growth in mDAUs in Nigeria. Earlier this month at the company’s earnings call, Twitter co-founder Jack Dorsey said that over 80% of the platform’s audience is outside the US.

TVS Automobile Solutions Pvt. Ltd., (TVS ASL), a part of the TVS Group, declared the acquisition of the whole equity stake of Mahindra First Choice Services Ltd. (MFCS) and its subsidiary Auto Digitech Pvt. Ltd. (ADPL) through a share-swap deal.

“It is a share swap transaction in which M&M will secure a minority stake in TVS ASL, while the latter will get 100% stake in MFCS,” G. Srinivasa Raghavan, MD, TVS ASL, said.

On February 26 Maruti Suzuki India said it has partnered with the Indian Institute of Management Bangalore to foster and encourage innovative startups in the country.

As part of the partnership, the auto giant, including Nadathur S. Raghavan Centre for Entrepreneurial Learning (NSRCEL) the startup core at the IIMB, has shortlisted 26 mobility startups for a 9-month extensive incubation programme.

“It will help startups channelise their efforts in bringing industry-ready solutions and becoming large scale businesses,” the company said in a statement.

The financial institution Small Industries Development Bank of India (SIDBI) which is engaged in promotion, financing, and development of micro, small, and medium enterprises (MSMEs) has declared its partnership with Andhra Pradesh (AP) government to build the MSME ecosystem in the state. As per the program, a project management unit (PMU) will be set up by the SIDBI to design schemes and programs in the areas of equity support, solve problems of stressed MSMEs, and supporting MSMEs entrepreneurs among others.