While the government is expected to contribute Rs 10,000 crore for the fund, Rs 40,000 crore is expected to be raised from external parties.
The US-based Zoom, which is also being used to conduct school classes besides corporate meetings, has also been tightening its encryption as it has come under fire globally for privacy issues.
The conversations between Reliance and Netmeds, which had also held talks with Walmart-owned Flipkart, had been going on before the coronavirus lockdown, sources said.
The Noida-based company has decided to go forward with its annual appraisal cycle where it now plans to allocate a higher amount of employee stock ownership plan (ESOPs) shares to its staff than a cash component. It has not undertaken any paycut measures as of now.
Flipkart, in the run-up to Monday had hired 4,000 workers amid the labour shortage, according to industry sources. Amazon was also beefing up its delivery workforce. The impact on jobs or salary delays would also extend to independent smaller merchants.
Monthly downloads of video-calling application Zoom, which is also being used by schools to conduct classes, have increased 17 fold from 500,000 in February to over 8.7 million in March. Gaming and entertainment applications are not far behind either.
The move comes as these companies have started taking a series of measures to scale up hygiene practices with the coronavirus outbreak, and they look to win consumer trust.
The transportation from railways will help e-commerce companies take goods from manufacturers to warehouses, as overall trucking routes remain choked, while India Post can act as a potential last-mile distributor of goods, another person aware of the goings-on said.
The funding includes the sale of shares by some existing investors and employees of Nykaa, which has been done at a discount to the $1.2-billion valuation.
Even before the outbreak of the coronavirus, overall consumer spending was muted owing to broader economic challenges. But the virus spreading at this pace brought online commerce to a screeching halt.
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