Snapdeal claims no payment due to sellers on its platformSnapdeal said today that it does not owe money to sellers on its platform, in response to the allegations of a seller group, which sought government intervention to stop Snapdeal’s impending merger with Flipkart until it settles their payment dues. Snapdeal claims that payments to sellers are made six to ten times per month and typically sellers receive the same within three to five days of the sale of their goods and that there are no outstanding amounts due in this regard. Read more at Thenextweb.
Karur Vysya Bank receives the ‘best small bank 2016′ awardKarur Vysya Bank has been adjudged the ‘Best Small Bank for 2016’ (balance sheet size of less than Rs. 1-lakh crore).K Venkataraman, Managing Director, KVB, received the award from Sudhir Munguntivar, Minister of Finance and Planning, Government of Maharashtra, at a function in Mumbai. This is the eighth award won by KVB in the current fiscal. Read more at KVB.
Union Petroleum Ministry Launched MoPNG E SevaMinister of State for Petroleum and Natural Gas, Shri Dharmendra Pradhan launched MoP&NG e-Seva. It is a dedicated grievances redressal platform on Social Media for all queries and grievances relating to Oil and Gas Sector. This portal will be a single point interface for all customers to reach out to the government for addressing their feedback or grievances related to Oil & Gas Sector on social media. MOPNG e-Seva will also deliver 24 x 7 support for consumers. Read more at Press Information Bureau.
Xiaomi Aims To Create 20,000 Jobs In India Over next 3 yearsChinese technology major Xiaomi's founder Lei Jun said, India was one of the important markets for the company and it aims to create 20,000 jobs in the next three years. Xiaomi entered India in July 2014 and last year, Xiaomi logged $1 billion in revenue in the country. After entering India, the company opened its first plant in August 2015 and by March 2016, over 75 per cent of its phones were being manufactured in India. Read more at NDTV.