Rio Money, in collaboration with YES BANK and NPCI, has launched a UPI app alongside the YES BANK Rio RuPay Credit Card, aiming to integrate credit facilities with UPI transactions. This initiative seeks to enhance financial inclusion, particularly in Tier 2 and Tier 3 cities, by offering accessible and efficient digital payment solutions.
Groww’s $160M tax payment as it shifts its headquarters from the U.S. back to India signals a larger wave of startup relocations. Amid India’s booming IPO market and favorable regulations, many startups are choosing to return, driven by the promise of better growth opportunities and regulatory alignment.
The Karnataka government, led by Siddaramaiah, paused the employment quota Bill for locals in the private sector after criticism from industry leaders and the public. The Bill proposed a 50% quota for administrative roles and a 75% quota for non-administrative roles. This followed a now-deleted post from Siddaramaiah announcing a 100% reservation for local Kannadigas in 'C' and 'D' grade roles. Industry leaders like Kiran Mazumdar Shaw criticized the Bill, arguing it would harm the IT sector. Facing pressure, Siddaramaiah clarified the Bill is still in preparation, with a final decision pending further discussion in the next cabinet meeting. The Bill needs Assembly approval to become law. Political analyst Sandeep Shastri linked the Bill to growing local protectionism. Pro-Kannada activists’ protests led to Bruhat Bengaluru Mahanagara Palike (BBMP) mandating 60% Kannada signage, sparking legal challenges.
