India Internet News

Phone banking fraud hits thousands; tricksters deal Rs 12,000-cr blow

Author: Mahua Venkatesh - Published 2015-10-24 11:34

Welcome to the world of vishing, or voice phishing, a technique used to trick gullible customers to part with confidential personal banking details. Vishing uses voice calls to steal identities and financial information. Such “vishing attacks” are designed to secure financial information in a short span by instilling fear in individuals. These calls are difficult to trace because they primarily ride through the internet.

For many Indians like Kardam, financial inclusion has also been an unpleasant introduction to the dark underbelly of hi-tech banking frauds.

Reliance Industries to enroll 1.5 lakh vendors for its ecommerce venture

Author: Rasul Bailay & Chaitali Chakravarty - Published 2015-10-20 21:20

Reliance said the ecommerce platform for electronics products is ready for deployment while it plans to roll out online grocery marketplace in the fourth quarter of the fiscal.

The company will also launch a curated fashion and lifestyle ecommerce venture for which it has signed exclusive partnerships with a host of fashion brands from countries such as Singapore, Australia, Russia, Switzerland, China and Turkey besides ramping up its private labels, the presentation said. However, Reliance officials declined to name those brands to analysts and said the company will unveil those names at an appropriate time.

India, Myanmar lead the way as mobile bandwidth consumption mushrooms

Author: Simon Rockman - Published 2015-08-29 01:59

The startling figures bring the number of mobile subscriptions to 7.2 billion, but the report points out that this equates to 4.9 billion subscribers, since many have multiple subscriptions.

There is still good growth, with the number of subscriptions increasing by five per cent, with India being the strongest market in terms of net additions for the quarter (+12 million), followed by Myanmar (+5 million), Nigeria (+4 million), USA (+4 million) and Bangladesh (+3 million).

Snapdeal loss rises 5 times to Rs 1,350cr

Author: Digbijay Mishra - Published 2015-08-20 18:01

Data accessed by TOI from Hong Kong Stock Exchange showed that Snapdeal's loss rose from around Rs 270 crore in March 2014 to nearly Rs 1,350 crore in March 2015 as the company shelled out $25 million (over 150 crore) a month as discounts and marketing expenses.

Snapdeal may not be an isolated case. The situation, industry experts say, is similar across e-commerce segment, and is not confined to India alone. For instance, Amazon emerged as the world's largest e-tailer recently and has been commanding a hefty premium even on stock markets, despite reporting a surprise profit last month after several quarters of losses.

Want branchless banking? Live in the developing world? Oops

Author: John Leyden - Published 2015-08-20 09:17

Although billed as a more secure option to cash, branchless banking apps are dangerously insecure, according to the team of five.

After carrying out an automated analysis of all 46 known Android mobile money apps across the 246 known mobile money sites, an exercise that "fails to provide reliable insights", the researchers turned towards a "comprehensive manual teardown of the registration, login, and transaction procedures of a diverse 15 per cent of these apps".

Download Mo(bile) Money, Mo(bile) Problems

Mo(bile) Money, Mo(bile) Problems: Analysis of Branchless Banking Applications in the Developing World

Marketplace sites fleecing book sellers

Author: Aziz Shroff - Published 2015-08-12 01:10

Marketplace is not beneficial to either seller or buyer for purchasing Academic and Professional books due to the current economic scenario, where sales are falling and overheads are increasing, which has forced the publishers and distributors to reduce their trade discounts, the current discount range between 25 to 32.50%, which makes it unprofitable for sellers to discount the books on third-party marketplaces.

It is a myth that purchasing on online marketplace is cheaper, the only advantage online marketplaces offer you is the convenience of sitting at home and ordering anything with just a click of the button, but for the price-conscious it is more beneficial to call up the local bookshop and ask for home delivery with discounted prices.

With a $16M valuation, Kolkata-based Wow! Momo raises funding from IAN

Author: Harshith Mallya - Published 2015-08-11 11:09

Indian Angel Network (IAN) announced its investment in Kolkata-based ‘Wow! Momo’, valued at over $16 million. In 2008, two friends, Sagar Daryani and Binod Homagai, from Kolkata conceived the idea of turning ‘momos’ into a diversified product category with versions appealing to different tastes. They had an operational start up before their exam results were announced. In its early days, the venture was bootstrapped with an initial investment of Rs.30,000.

India Post to Help Farmers Sell Their Produce Online; Will Add New Revenue Channel!

Author: Siddhant Ghatge - Published 2015-08-07 16:37

With the help of India’s postal department, farmers will now be able to sell paddy, cotton, pulses or any other farm products directly to the traders online that too without spending even a single buck on transport.

“The project will soon start in Andhra Pradesh and Telangana over the next couple of weeks,” said the chief postmaster general of the circle covering the two Telugu-speaking states, BV Sudhakar.

Twitter launches 4 new Indic languages

Author: Francesca Di Marco - Published 2015-07-31 23:40

Today we’ve made Twitter available in Gujarati, Kannada, Marathi and Tamil, and we’ve updated twitter.com and the Android app to support these additional Indian languages.

This update means we now support six Indian languages, since Hindi and Bengali have been available for more than a year. To make a change on the web, you can select your choice of language from “Settings” in the drop down menu on the profile.

Uber to invest $1 bn in India; targets 1 million riders a day

Author: Siladitya Ray - Published 2015-07-31 11:26

App based taxi aggregator Uber has plans to invest $1 billion into a major initiative in India to target 1 million rides per day by March 2016. The news comes in a few days after it was reported that local rival Ola is in talks to raise $500 million.

This move would likely result in the expansion of the company's service beyond the 18 cities it currently covers in the country and bring in more investment in product, hiring and payment. Much of Uber’s investment is also expected to go toward expanding the subsidies it offers to lure new passengers and drivers to the platform.