DRIVING LICENCE
Zomato gets shareholder approval for Esop plan, gives up pursuit of NBFC licence
Food delivery company Zomato had proposed an Esop pool of 183 million shares. The new plan would mean a 2% stake dilution for existing shareholders, founder and CEO Deepinder Goyal had told shareholders in May, adding that the new pool would be sufficient for the next five years.
Uno Minda ties up with Chinese firm for production of EV components
Uno Minda has partnered with Suzhou Inovance Automotive Co to manufacture electric vehicle components, including charging control units, inverters, motors, and electric drive systems for passenger and commercial vehicles. The company plans to expand its electric four-wheeler portfolio and potentially establish a joint venture with Suzhou. Inovance, founded in 2003, specializes in providing products for rail transit and new-energy vehicles.
No need for speed: Luxury cars' involvement in accidents spur worries
Speeding luxury cars have caused several fatal accidents across India, highlighting the dangers of reckless driving. Recent incidents in Pune, Noida, and Bengaluru involved high-end vehicles like Porsche, BMW, and Audi, resulting in deaths and injuries. The rise in road accidents underscores the need for stricter licensing regulations and pedestrian-friendly infrastructure.
Missing on our roads: Real red lights
Maharashtra deputy CM has rightly condemned the Juvenile Justice Board for letting off the guilty with not much of a rap on the knuckles. The minor's 'punishment' was writing a 300-word essay on accidents, working with traffic police for 15 days and undergoing counselling for his drinking. If that serves as a deterrent against driving without a licence and DUI, best of luck to Indian road safety.
Wanted: More women in taxi, logistics lane
Taxi and logistics companies, traditionally reliant on male drivers, are increasingly hiring women to drive cars and commercial vehicles or deliver ecommerce orders on two-wheelers. Female driver demand is rising faster than for males but there's a shortage.
Fin inclusion, digital growth to drive payments bank momentum in India: Airtel Payments Bank CEO
Airtel Payments Bank CEO Anubrata Biswas is optimistic about the growth prospects of payments banks in India, driven by financial inclusion initiatives and rapid digital growth. Airtel Payments Bank has seen significant growth in users, revenue, and profits in FY24 and has nearly 500,000 banking points nationwide. The bank offers digital banking solutions and financial services targeting urban, rural, and business segments.
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FirstCry refiles IPO papers; Groww secures payment aggregator licence
FirstCry has refiled its draft IPO papers with market regulator Sebi with updated financials. More on this in today’s ETtech Top 5.
Best Seagate hard drive options for reliable storage solutions
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How to start a medical business: Here is a complete guide
Embarking on launching a medical business entails navigating various challenges and considerations. From securing funding to complying with healthcare regulations, entrepreneurs must tread carefully. Here are funding options, compliance requirements and regulations. Obtaining licenses, embracing technology, and prioritizing patient-centric care are vital steps in establishing a successful medical venture.
Regulatory scrutiny may queer the pitch for insurtech; and other top startup & tech stories this week
Multiple people in the know have told me that the insurance regulator is not comfortable with the typical corporate structures of startups, and may not be in favour of granting them an insurance manufacturing licence. The regulator wants these firms to get rid of any holding company structures, onboard investors directly into the applying entity, and have founders bring in sufficient amount of net worth before applying.
Extra fees for driving licence renewal, registration certificate post due date not penalty: HC
Bombay High Court ruled that additional fees for license renewal and registration beyond the time limit are not penalties. The HC upheld rules under the Central Motor Vehicles Act for these fees on late applications, dismissing petitions challenging the rules.
Amazon Pay secures payment aggregator licence; Krutrim AI’s chatbot
Amazon Pay has received a payment aggregator licence from the Reserve Bank of India (RBI). This and more in today’s ETtech Top 5.
Road ministry extends validity of learner's licence, driving license, conductor license till February 29
Due to infrastructure issues in the Sarathi portal, the road ministry extended the validity of learner's licenses, driving licenses, and conductor licenses until February 29, 2024. Disruptions in license-related services occurred from January 31 to February 12, 2024, preventing applicants from accessing online services such as fee payment and license renewal.
Widows of accident victim & vehicle owner get relief from Supreme Court, motor insurer to pay Rs 13.7 lakh
Motor insurance claim: IFFCO Tokio General Insurance Co. Ltd was ordered by Honourable Supreme Court to pay Rs 13.7 lakh plus interest to widow of an accident victim. The accident occured on May 9, 2010 when a vehicle driven by a driver who had a fake driving license hit the victim's bike.
How fintechs got their fingers in every pie; and other top tech, startup stories this week
On Wednesday, ET wrote about how fintechs were adding more than 42% of the new investors in mutual funds every month. And this is not unique. Be it wealth management, payments or credit, fintechs are playing an important role in expanding the market and driving adoption everywhere.
Fintechs top mutual fund distribution sweepstakes; IT sector’s slowest growth in a decade
Data showed that in November, 30 lakh new SIPs were generated by the entire industry. Industry estimates said that around 42% of these SIPs were issued through fintechs like Groww, Paytm Money, AngelOne and others.
Tata Pay bags payment aggregator licence; Binny Bansal’s new startup OppDoor
Happy 2024! Welcome to the first edition of ETtech’s Top 5 in the new year. Tata group’s digital payments business, Tata Payments, has secured a payment aggregator licence from the Reserve Bank of India (RBI). This and more in today’s edition of our daily evening newsletter.
Over 2,700 drunk driving cases filed in Hyderabad during NY celebrations
According to Cyberabad Police, a total of 1,241 persons including two women were booked for drunk driving. As many as 938 two-wheelers and 275 four-wheelers were involved.
Top guns plug into future with licence to upskill
Edtech platforms including Emeritus, Coursera, upGrad, Simplilearn and Great Learning say they have seen a sharp uptick in the number of top executives—including CXOs—who are opting for upskilling to stay on top of things in a fast-changing business environment. Courses in generative AI, ChatGPT, machine learning, data science and business analytics and leadership skills are finding the most traction among senior leaders. Tech, tech services, BFSI and healthcare are the sectors with the maximum number of takers.
RBI grants payment aggregator licences to Razorpay, Cashfree, others; FirstCry’s IPO details
While the payment aggregator licence was thought to be routine initially, for the likes of Razorpay and Cashfree, it makes a big impact as they step out of the ban on bringing in new customers.
Unicorn Slice eyes $100 million to fuel its banking dreams
The Bengaluru-based fintech firm is scouting for fresh equity and is trying to get a good deal from investors. The talks are still at an early stage and, given the overall funding winter, might take a few months to close, sources told ET.
Noida Police warns: Your driving licence, RC will be cancelled if...
Gautam Buddh Nagar, also known as Noida, Police has issued a warning stating that individuals who receive more than three traffic violation challans may have their driving licenses cancelled. Moreover, repeated offenses could lead to the suspension or cancellation of the vehicle's registration. Uttar Pradesh chief minister Yogi Adityanath had earlier directed the traffic department to take strict action against repeat traffic offenders.
SC directs Centre to review if change in law is warranted on issue of regimes for grant of driving licence
The Supreme Court has directed the Central government to review the legal question of whether a person holding a driving license for a light motor vehicle is entitled to legally drive a transport vehicle of a particular weight by January 17. The apex court has asked the Union government if a change in law is warranted on the legal question, observing that these are policy issues impacting the livelihood of lakhs of people.
Now, anybody can become a drone pilot, govt relaxes ID proof requirement
One key change is the removal of the mandatory passport requirement for aspiring drone pilots. Instead, individuals can now submit government-issued identity and address proofs when applying for a Remote Pilot Certificate. This change is expected to make drone piloting more accessible to a wider range of individuals, particularly those in rural areas and the agricultural sector.
Reassess policy allowing LMV licence holders to drive commercial transport vehicles, SC tells Centre
The Supreme Court has requested the Ministry of Road Transport and Highways to reconsider its policy of allowing holders of a light motor vehicle (LMV) license to operate commercial transport vehicles. Insurance companies have raised safety concerns, while industry executives argue that obtaining a transport license is burdensome for drivers.
UAE 'one-day' driving licence test: 194 applicants benefit in this special drive
Sharjah Police in the UAE has reported that 194 applicants have taken advantage of the "one-day test" driving license initiative, which integrates the preliminary and city driver's license tests into a single day rather than several days of attendance. The initiative aims to reduce both the time to obtain a driver's license and the effort involved.
SC seeks AG's assistance in dealing with issue of regimes for grant of driving licence, their applicability
The legal question has given rise to various disputes over payment of claims by insurance companies in accident cases involving transport vehicles being driven by those having licences to drive light motor vehicles (LMVs). The Motor Vehicle Act provides for different regimes for grant of driving licences for different categories of vehicles.
Chip shortage hits issuance of smart driving licences, registration cards
A shortage of semiconductor chips continues to impact issuance of chip-based driving licences and automobile registration cards, to the frustration of new vehicle owners. During most of 2022 and the beginning of 2023, disruption in the supply chain and the Russia-Ukraine war caused a shortage of chips that meant that smart driving licences were not issued, said Pethi Sarguru, CEO of Versatile Card Technology (VCT), one of the largest manufacturers of smart cards used for PAN cards and voter IDs.
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