π¨π¨Itβs been more than a year that we launched ( in August 2020) three newsletters at . While an older version of two of those newsletters existed, they were completely revamped. Some thoughts on doing a newsletter at *scale*. π§΅
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@samidhas
Editor & Reporter, The Economic Times. Building . 
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samidha.sharma@timesgroup.com
Subscribe to ETtech newsletters bit.ly/3KQZ50Z DMs open, samidha.sharma@timesgroup.comπππ¦π’ππ‘π ππ‘ππ«π¦πβs Tweets
Important news breaking on today - MeitY ban on loan apps includes non-Chinese players like PayUβs Lazypay
P.S LazyPay has been a huge pay for lazy bums like me π₯²
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All of these big deals happened in the backdrop of RBI introducing new digital lending rules.
The RBI wants new-age lending businesses to focus on their non-bank units and capitalise them to meet its preference for regulated entities.
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Investors in these companies have been on edge, I am told by some folks. Some of the recent funding rounds in lending apps includeβ Adventβs $120m in Kreditbee, TPG, Norwestβs $110m in EarlySalary, Apis led $75m in Moneyview.
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MeitY ban on loan apps includes non-Chinese players like PayUβs Lazypay
economictimes.indiatimes.com/tech/technolog
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π¨π¨This evening we broke the news of lending apps like PayUβs LazyPay, Kissht, among others being a part of the 94 loan apps to be blocked by the Indian Govt. This has led to chaos among lending startups. Till yesterday it was seeming like only Chinese apps were being banned
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According to a #fintech founder, the development has triggered panic among lending platforms even as others are yet to receive any official notification on the matter.
Read more here
economictimes.indiatimes.com/tech/technolog
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SoftBank CEO Masayoshi Son to skip earnings call for first time as tech slumps
economictimes.indiatimes.com/tech/technolog
Download Economic Times App to stay updated with Business News -
etapp.onelink.me/tOvY/135dde21
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π§΅
Today's exclusive with :
Four online gaming companies - Dream Sports, MPL, Games24x7 and Zupee - broke formation and reached out to MEITY against public comments on draft online gaming rules made by IAMAI, of which these four platforms are members.
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Read the complete story by & here π
UPI Lite on Paytm, PhonePe soon for smaller epayments
Read more at:
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π¨Exclusive: Four of the largest gaming firms Dream Sports, MPL, Zupee and Games24x7, part of the #IAMAI, have written a note to distancing themselves from the industry bodyβs recent statement that said draft gaming rules were βright on intent but poor on scopingβ.
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βI go to sleep, I wake up, I work, go to sleep, wake up, workβdo that seven days a week.β Iβll have to do that for a whileβno choiceβbut I think once TwitΒter is set on the right path I think it is a much easΒier thing to manΒage than SpaceX or Tesla.β
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I wrote today how and why stock brokers are not taking any chances with Adani Group stocks #AdaniEnterprises #Adani
m.economictimes.com/markets/stocks
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Read the full story by & here π
Angel tax on foreign investors may muddle maths for startups
Read more at:
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This whole conflating of Adani crisis with shaking faith in Indian businesses is an overkill. Some dozen pieces saying the same thing. US and China have seen all of this at a much bigger scale.
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It's shaping up to be a good day for Meta Platforms.
Shares in Facebook's parent company jumped 26% in midday trading, putting the stock on pace for its best daily performance in nearly a decade.
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From the 2019 vault: Angel tax: New startups may look to register overseas
economictimes.indiatimes.com/tech/startups/
Quote Tweet
In #BudET2023, Angel Tax 's coverage is being now extended to *foreign investors* or non-resident investors--stoking litigation and funding structuring fears.
"Bringing the non-resident investors within the ambit of section 56(2)(viib).." @pranavmukul
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"We are working with our Book Running Lead Managers (BRLMs) to refund the proceeds
received by us in escrow and to also release the amounts blocked in your bank accounts
for subscription to this issue." Ends
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Adani's stock offering just went down like the HIndenberg...
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Statement: Board of Directors of the Company at its meeting held today decided, in the interest of its subscribers, not to proceed with the
FPO of equity shares aggregating up to βΉ 20,000 crore of
face value βΉ1 each on partly paid-up basis, which was fully subscribed
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Adani Enterprises calls off FPO, money to be returned to investors
economictimes.indiatimes.com/markets/ipos/f
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β‘SaaS pips fintech as largest unicorn creator in 2022: Orios Venture report
β‘ SaaS produced six out of 24 unicorns in 2022,
β‘One out of 13 unicorns globally was born in India
β‘2022 saw 229 acquisitions and four technology public listings
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I think there were 1,000 of those mails.. spent more time deleting than reading mails today. twitter.com/nishanthv_et/s
This Tweet is unavailable.
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Adani sell-off tops $90bn as share sale fails to ease crisis
'On Saturday, it was known in the community that they were approaching high-net-worth families,' said one business figure who was contacted but did not invest. 'I know theyβve raised money from family offices'
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FM Sitharaman: In 2022, digital payments showed an increase of 76% in transactions and 91% in value. Fiscal support for digital transactions to continue in 2023-24. #BudgET2023
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"To further provide access to green mobility, customs duty exemption is being extended to import of capital goods and machinery required to manufacture lithium-ion battery cells for batteries used in electric vehicles."
#BudgET2023
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FM Sitharaman: Removing minimum threshold of Rs 10,000 for TDS on online gaming and providing clarity on taxability. #BudgET2023
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FM Sitharaman: Propose to extend the date of incorporation for income tax benefits for startups from March 31, 2023 to March 31, 2024. #BudgET2023
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FM Sitharaman: PM Kaushal Vikas Yojana 4.0 will be launched to skill youth within the next three years. 30 centres to be set up for training in coding, AI, robotics, IoT, 3D printing, drones & other soft skills to be included.
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Also part of this policy: simplified KYC policy and a one-stop solution to update address and identity. #BudgET2023
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