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UK regulators take aim at Apple’s search engine deal with Google !!

July 2, 2020

The payments by Alphabet Google to Apple to be the default search engine on Apple’s Safari web browser create “a significant barrier to entry and expansion” for Google’s rivals in the search engine market, the UK markets regulator said in a report released on Wednesday. The UK Competition and Markets Authority, in its final report investigating online platforms & digital advertising, said the arrangements between Apple and Google create “a significant barrier to entry and expansion” for Google’s rivals in the search engine market. Those rivals include Microsoft Corp’s Bing,…

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GST faces challenge to meet higher revenue expectations !!

July 2, 2020

The Goods and Services Tax (GST) was passed in a joint session of parliament on 1 July, 2017. It is the biggest tax reform in the history of the country. GST’s rollout abolished a plethora of regional taxes and ushered in a unified indirect tax regime across the country. This change was expected to cut red tape, facilitate movement of goods and services across state borders and widen the tax base by bringing erstwhile evaders into the system via the input tax credit radar. It was a radical reform. Reforms…

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UPI payments hit all-time high of 1.34 billion transactions in June !!

July 2, 2020

UPI payments had fell to 999.57 million in terms of volume with transactions worth of Rs 1.51 lakh crore in April, following the coronavirus-induced lockdown that halted almost all services, except essentials. Payments on Unified Payments Interface (UPI) in June hit an all-time high of 1.34 billion in terms of volume with transactions worth nearly Rs 2.62 lakh crore, as per National Payments Corporation of India (NPCI) data. On a month-on-month basis it registered a 8.94% growth from 1.23 billion in May. UPI payments had fell to 999.57 million in terms…

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BookMyShow casts its eyes on live streaming and online shows !!

July 2, 2020

BookMyShow is changing. From a pure-play transactional platform with the main focus on ticketing for outdoor events, the Mumbai-headquartered start-up is foraying into online shows and events, direct-to-home. No marks for guessing why. It’s COVID-19. “We have historically been the discovery platform of choice for all forms of outdoor entertainment. With COVID-19, people are forced to stay at their home and we are designing the app to bring entertainment straight to the consumers,” said Albert Almeida, Chief Operating Officer – Live Entertainment at BookMyShow. BookMyShow has already hosted around 750…

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38% startups out of funds, 4% shut down business due to lockdown effect !!

July 2, 2020July 2, 2020

New Delhi: A survey has revealed that about 38% start-ups have run out of funds and 30% have 1-3 months of cash left, indicating the severe impact of lockdown on fledgling businesses. According to the online survey by Local Circles which sought over 28,000 responses from more than 8,400 start-ups, SMEs and entrepreneurs — 16% such entities said the they have 3-6 months of cash left. Another 12% respondents said they have less than a month’s worth of cash left. “4% also said that they have already shut down the…

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CERT-In Indian Cyber-Security Agency Warns of Malicious Google Chrome Extensions !!

July 1, 2020

Internet users should exercise caution while installing Google Chrome extensions as the company has removed over 100 malicious links after they were found collecting “sensitive” user data, country’s cyber-security agency said on Wednesday. The Indian Computer Emergency Response Team of India (CERT-In), the national technology arm to combat cyber-attacks and safeguard in Indian cyberspace, said it has also been found that these extensions contained code to bypass Google Chrome’s Web store security scans. The malicious extensions had the ability to take screenshots, read the clipboard, harvest authentication cookies or grab user…

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