Walmart-Flipkart Deal

PhonePe has a formidable market presence in the Indian digital payments space. The app leverages the Unified Payments Interface (UPI) like its other peers

Upheaval gripping AEL may expose billionaires, including Wilmar International, controlled by family of the richest person of Malaysia and world's second-richest Walton family, to the market turmoil

The Flipkart Group said it closed the additional $1.2 billion equity round to support the continued development of its e-commerce marketplace as India emerges from the Covid-19 crisis

Business Standard brings to you the top headlines of the day

AAR is a legally constituted body whose ruling is binding on the applicant as well as government authorities

Its Flipkart unit plans to unveil the service in coming months

PhonePe has grown into one of India's leading digital payments companies

The company plans to go for major expansion in the grocery space over the next few months

A recent report by Morgan Stanley had hinted that Walmart may quit Flipkart as the new FDI policy came into effect, which would lower its profitability in the long run

However, the bench said: "It will be open to the parties to file short written submission, not more than three pages, by January 29, 2019."

Sriram Venkataraman named as COO; slew of changes in top management

As many as 44 shareholders of Flipkart, including significant ones like SoftBank, Naspers, venture fund Accel Partners and eBay, sold their holdings to Walmart

Walmart is targeting to revamp Flipkart's functions by the third quarter of the next financial year, to be able to make a point to its shareholders

Walmart has already deposited Rs 74.39 billion in tax for buying out 44 foreign shareholders' stake in Flipkart

Binny Bansal's exit from Flipkart may or may not have a deeper story but it definitely has thrown up questions and some answers too

Walmart also expects a lower growth rate of 35 per cent for its online business in the financial year 2020

In December last year, Flipkart had bought back ESOPs worth over $100 million from over 3,000 current and former employees

The recent investment in Flipkart shows Walmart is committed to the country, Walmart India President and CEO Krish Iyer said.

Walmart has paid Rs Rs 74.39 billion withholding tax on payments made to 10 major shareholders of Flipkart

E-commerce firm will learn inventory management, how to handle fresh produce, cold chains