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Sachin Bansal is betting his Flipkart fortune on banks

Bansal, through his microfinance firm Chaitanya India, has applied for a banking licence.
The Economic Times

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  • Bansal, through his microfinance firm Chaitanya India, has applied for a banking licence.

    The announcement comes days after the American e-tail giant had announced investment of $1 billion for digitising small and medium businesses, and creation of one million jobs by 2025.

    Walmart announced layoffs across sourcing, agri-biz & FMCG divisions. More people will have to leave later.

    "Many people are talking about jobs, including your paper, but I look at the jobs in the perspective of the jobs lost also. I cannot create 700,000 jobs by breaking the law, breaking every anti-competitive restriction, monopolising certain markets", said Commerce and industry minister Piyush Goyal.

    Vijay Chauthaiwale, the chief of the BJP's foreign affairs department, said there was "a lot of problem" with the newspaper's coverage of India, but did not give any specific examples.

    Amazon.com Inc chief Jeff Bezos had on Wednesday announced USD 1 billion (over Rs 7,000 crore) investment in India to help bring small and medium businesses online and committed to exporting USD 10 billion worth of India-made goods by 2025. "We are investing to create a million new jobs here in India over the next five years," Bezos said.

    How worried should the Amazon boss be? Things will be clear after Ambani takes his JioMart live.

    With the addition of the two units, Flipkart will now have 12 fulfilment centres in Haryana. Unlike traditional warehouses, fulfilment centres are equipped with highly automated pick, pack and shipping processes to facilitate safe and timely processing of orders.

    India's competition watchdog has ordered its investigative wing to probe Amazon and Flipkart over their discounting practices, exclusive brand launches on the platforms and the preferential treatment they have allegedly offered to certain mobile phones sellers.

    The Alphabot, designed by a Massachusetts startup called Alert Innovation, could help Walmart build on that lead. Walmart began working with Alert in 2016, as part of a broader corporate initiative dubbed “Alpha” that sought to improve the profitability of online grocery.

    It is suspected that consumers, at a staggering pace, might have ordered new winter clothes and other products and then returned it weeks later after using it, pushing Flipkart to make this change in its policy, sources said.

    Google has introduced a new "Google IT Automation with Python Professional Certificate" a program which is designed to provide job-ready skills in Python, Git and IT automation within six months. The program includes a final project where learners will use their new skills to solve a problem they might encounter on the job.

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