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Registering over 137 Mn Unified Payments Interface (UPI) transactions in the month of September 2018, One97 Communications, which owns digital payments brand Paytm, today (October 15) announced that it contributed over 33% of overall UPI transactions.
US ecommerce behemoth Amazon has reportedly offered $400 Mn to Kolkata-headquartered Spencer’s Retail for 30% stake in the company. Another global e-commerce major Alibaba is also eyeing a minority stake in this food and grocery retail chain.
Amid the RBI having stuck to October 15 deadline to its data localisation directive, a closed-door meeting reportedly took place between the RBI deputy governor-general BP Kanungo and top foreign data fiduciaries operational in India. Some of the US companies such as Visa and Mastercard reportedly demanded 12 months extension to comply with the RBI directive on data localisation.
When reports of Amazon India giving a preferential treatment to sellers like Cloudtail and Appario Retail came in earlier this year, the etailer denied all these allegations and reiterated that it has equal policies for all. Have a look at Cloudtail results that are clearing the picture a bit…
Google India is reportedly launching a ‘Shopping’ tab that will direct users to merchant websites or ecommerce platforms when searching for products to buy. The move by Google is being observed as a precursor to setting up an ecommerce marketplace in India.
As part of Inc42 ’s ongoing initiative to get insights from key stakeholders on the Indian ecosystem, we spoke with Karan Sharma, who co-heads the Digital and Technology Investment Banking at Avendus Capital about how he expects the landscape evolve. Read everything he had to share here… 
Last week, the third edition of IoT Congress was successfully hosted in partnership with the Exhibitions India Group, a trade promotion organisation. After an eventful week, we are here to book your calendars for another busy week ahead! Here is Inc42’s latest edition of startup events coming up this week.
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