In a surprising move, Online cab booking startup, Ola has announced the launch of its food delivery service in 4 cities i.e. Mumbai, Delhi, Hyderabad and Bangalore. The service is expected to be launched in other cities as well, over a period of time. Named as Ola Cafe, the service claims to deliver food in just 20 minutes!. As per the company, the food delivery service will be available during 12 PM till 11 PM. Users can place orders during this time and make payment via Ola Money or via Cash, however, part Ola Money and Part cash transactions are not supported at the moment, as it is when you book cabs/auto via the Ola App.
Let’s have a look at the important developments of the Indian startup ecosystem:
Chhattisgarh Govt Plans To Set Up Startup Village
In a bid to encourage the young entrepreneurs and promote innovation among startups, Chhattisgarh Government is planning to set up a Startup Village. The announcement was made after the high-level delegation comprising top officials of the state government visited the Kochi-based Startup Village to learn more about the incubation facility and explore ways to set up a similar service in their state. The delegation was led by Rajat Kumar, Joint Secretary to the Chhattisgarh Chief Minister Raman Singh. During his visit, he discussed the working model of upcoming Startup Village with the executives. He also assured the possible support and expertise in setting up a facility at Naya Raipur.
RBI Mulls 2 Factor Authentication For Transactions Below INR 2000
With an aim to make online transactions easier, Reserve Bank of India (RBI) has come out with a circular around the restrictive two-factor authentication for transactions under INR 2,000. However, according to the draft. relaxation of the norms applied only to ‘card present’ transactions where near-field communication (NFC) technology is used. The ATM transactions where the card is not present will continue to require the additional factor of authentication, a PIN or one-time password. At present, a customer has to key-in the personal identification number (PIN) for authenticating every transaction.
If the draft circular gets implemented, customers using contact-less cards will not have to key in the PIN for transaction up to INR 2,000.
Times Group Is Suing Housing.Com & Its Directors, Seeks $16 Mn In Damages
Bennett, Coleman & Co. Ltd, Times Group’s holding company has sent a legal notice to Locon Solutions Pvt Ltd., the parent company of of Housing.com for alleged defamation. The notice has been sent post the incident where Rahul Yadav had sent a mail to the Housing.com’s employees stating that the group is trying to “malign” Housing.com as it competes with the group owned real estate portal Magicbricks. In the notice, BCCL has asked Housing.com CEO Rahul Yadav and its directors to issue an unconditional apology, and further, it also seeks INR 100 Cr. ($16 million) in damages. The legal notice states if its demands are not met, BCCL will initiate legal proceedings.