Retail Newsletter - November 28 to December 2, 2016

India Infoline News Service | Mumbai | December 02, 2016 16:15 IST

This week, RBL Bank, Oxigen deployed 25 micro ATM vans for doorstep banking and Craftsvilla partnered with Co-optex. IIFL presents a weekly snapshot of all the major happenings in the Retail industry.

Top News
 
Govt Clarifies: Jewellery acquired from disclosed sources / exempted income will not become taxable
In the wake of Taxation Laws (Second Amendment) Bill, 2016 which has been passed by the Lok Sabha and is under consideration with Rajya Sabha, some rumours have been making rounds that all gold jewellery including ancestral jewellery shall be taxed @75% plus cess with a further penalty liability of 10% of tax payable. Read More
 
ShopsUp aims to change the way Indians discover and shop at local stores
ShopsUp, a location-based shopping app, announced its availability for shoppers to discover and shop at local as well as retail stores by and making it more personalized and rewarding in an era of burgeoning online shopping especially amongst millennials. The app offers exciting features for consumers to discover exciting boutique stores around their neighborhood as well as stores at popular malls and shopping streets including brands such as Van Heusen, AND, Adidas, Pepe Jeans, Raymond, Allen Solly and more. Read More
 
Domestic News
 
Ola Money enables cashless payments through its wallet for key utilities
Ola Money, the popular digital payment solution from Ola,India’s most popular mobile app for transportation, announced that it has enabled cashless payments through its wallet for key utilities like gas and electricity across the country. Read More
 
RBL Bank, Oxigen deploy 25 micro ATM vans for doorstep banking
RBL Bank, one of the country’s fastest growing private sector banks, has commissioned Oxigen Services India, a major digital payment solutions company, to deploy 25 of its SuperPoS MicroATM on mobile vans to ease cash flow problems following demonetisation. Read More
 
Craftsvilla partners with Co-optex to offer and promote authentic handloom products
Craftsvilla, one of the largest online ethnic store, today announced partnership with Co-optex (Tamil Nadu Handloom Weavers' Co-operative Society). Through this association Craftsvilla will host authentic handloom products on their website thereby supporting the highly talented handloom weavers of Tamil Nadu. Read More
 
CL Educate signs MoU with T-Hub Education to foster a collaborative environment for startups
CL Educates Ltd and T-hub Foundation have signed a Memorandum of understanding (MoU) to nurture a collaborative environment for the startups in Telangana, India. Read More
 
Demonetisation: Online shopping sees surge; Paytm wallet & CoD payments via bank cards most preferred
The term Demonetisation has become a household name since the Government pulled the old Rs 500 and Rs 1,000 notes out of circulation. This announcement by the honorable Prime Minister Narendra Modi is perhaps the most significant step taken, targeted at ferreting out black money and curbing corruption. The effects and it’s impact is seen everywhere across industries. CashKaro.com - India’s largest Cashback & Coupons site did a survey recently to understand the ‘Effects of Demonetisation on Online Shopping’. Over 1000 people across India participated in the survey. Read More
 
PAYBACK partners with Voylla, Rare Rabbit and Wandertrails
PAYBACK, India’s largest multi-brand loyalty program today announced its partnership with one of the fastest growing fashion jewellery brand’s - Voylla, a new home-grown men’s lifestyle brand - Rare Rabbit and an experiential online travel platform - Wandertrails. Read More
 
mVisa partners with Ongo to support payments over 1,000 TABCab taxis
mVisa, a Quick Response (QR) code-based mobile solution by Visa, will now support payments to over 1,000 TABCab taxispowered by Ongo.  The announcement marks the expansion of mVisa to a new category (taxi) after success with merchants like TataSky, Idea, Pizza Hut and others. Read More
 
Paytm registers strong growth in mobile recharges as offline market shifts online
India’s largest mobile payments and commerce platform, Paytm announced it has registered a strong surge in online recharges on its platform post the government’s move to demonetize Rs 500 and Rs 1000 notes. As millions of new consumers tried online recharges for the first time, Paytm has registered over 35 million online recharges in the last few days. Read More

FreeCharge will enable millions in Andhra Pradesh to go cashless
FreeCharge, India’s fastest growing digital payments platform, announced its partnership with Andhra Government to be part of the ‘AP Purse’ initiative of the government. ‘AP Purse’ is a state government initiative to help consumers make convenient and effective use of digital payments, including mobile wallets. Read More
 
Myntra brings popular International casual fashion brand Esprit on its platform
Myntra, India’s no.1 online fashion destination has forged an exclusive online partnership with famed international casual fashion brand - Esprit. Renowned for its effortless style with a sunny California attitude, laid-back tailoring and attention to quality, Esprit will launch its latest collection exclusively online on Myntra. Read More

 

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