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Certain relief to farmers after demonetization

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Reportedly, the government has now allowed farmers to use old Rs. 500 notes for purchasing seeds from any state or central government outlets and agriculture universities.

After a sudden move of demonetization of Rs. 500 and Rs. 1000, the government came under a severe pressure by the public and the day to day chaos that the government has to give some liberty to farmers. It also shows the complete failure of this scrapping of cash.

Now, the farmers are provided liberty to some extent that they can purchase seeds from the centres, units or outlets belonging to the central or state governments, public sector undertakings, national or state seeds corporations, central or state agricultural universities and the Indian Council of Agricultural Research (ICAR), on production of proof of identity, the finance ministry said in a statement.

Additionally, the decision taken earlier for making cash available with the farmers by permitting them to draw up to Rs.25,000 per week from their KYC compliant accounts subject to the normal loan limits and conditions apart from the other facilities announced last week.

Apart from this, the government has also extended the deadline for payment of crop insurance premium by 15 days and permitted APMC-registered traders to withdraw up to Rs.50,000 per week.

 

 

Wefornews bureau

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Impact of Demonetisation on farmers readying for Rabi

 

 

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Google ‘Launchpad Accelerator’ India chapter to nurture desi startups

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New Delhi, July 10: In a bid to nurture Indian startups working in the fields of Artificial Intelligence (AI) and Machine Learning (ML), Google on Tuesday announced to open the India chapter of its global “Launchpad Accelerator” mentorship programme.

The three-month “Launchpad Accelerator” India programme has been designed to grow the AI/ML ecosystem by helping desi startups build scalable solutions for the country’s unique problems.

The programme, based out of Bengaluru, will provide a cohort of 8-10 Indian startups mentorship and support from the best of Google in AI/ML, Cloud, UX, Android, web, product strategy and marketing, along with up to $100K of Google Cloud credits, the company said in a statement.

“India has the appetite to build entrepreneurs of the future and we are proud to announce a focused programme for the next wave of Indian entrepreneurs, who are using new technologies to solve the country’s needs,” said Roy Glasberg, Global Launchpad Founder.

Over the years, Google has worked with some incredible startups across India who are using advanced technologies such as AI/ML to tackle everything from agri-tech to language web, healthcare and transportation.

“With the dedicated India-only Launchpad Accelerator programme, we will be able to build a bridge between startups and the industry ecosystem and support them to drive innovation in the India market,” Glasberg added.

Applications for the first class is open till July 31 and the first class will start in September 2018.

In an effort to mentor emerging start-ups, Google India hosted a four-day boot camp for the first 10 Indian startups as part of its ‘Solve for India’ programme.

The India-focused accelerator programme is building on Google’s “Solve for India” roadshow from last year.

Ten Indian startups were shortlisted from across India which underwent four days in one-on-one consults with experts from Google and mentors from the industry to solve critical product and growth challenges.

“We shortlisted 10 startups from 160 home-grown start-ups by travelling across 15 cities in India, and are now ready to scale this pilot as a dedicated programme for India,” Karthik Padmanabhan, Developer Relations Lead, Google India, said at that time.

The participants were the founders of startups including Nebulaa, Slang Labs, PregBuddy, LegalDesk, PaySack, Vokal, FarMart, Meesho, Pratilipi and M-Indicator.

“Launchpad” regional accelerators are tailored specifically to their local markets, helping startups build great products, Google said.

IANS

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Fuel prices hiked for fifth consecutive day

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New Delhi July 9: Petrol and diesel prices on Monday hiked for the fifth consecutive day, according to the Indian Oil Corporation data.

Petrol is being sold in Delhi at Rs.76.36 per litre, as against Rs.76.13 on Sunday, while diesel is being sold at Rs.68.07 per litre, as against Rs. 67.86 on the previous day.

While in Mumbai, petrol prices increased from Rs. 83.52 on Sunday, to Rs. 83.75 per litre on Monday, and diesel prices from Rs.72 to Rs. 72.23 per litre.

Members of the Organisation of the Petroleum Exporting Countries (OPEC) last month, agreed to jointly increase oil production, which was estimated to be about one million barrels a day.

The deal, which came after days of negotiation, was reportedly aimed at easing fears of a global supply crunch.

WeForNews 

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China’s cross-border e-commerce players value India, Middle East markets

The Indian market enjoys a huge population and high potential for economic growth, thus attracting many e-commerce players to expand their presence.

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Beijing, July 8 (IANS) :China’s major cross-border e-commerce players put much focus on the Indian and Middle Eastern markets, a report revealed on Sunday.

According to app data provider App Annie, the Indian market enjoys a huge population and high potential for economic growth, thus attracting many e-commerce players to expand their presence, reports Xinhua news agency.

Smartphones are popular in Arab countries and local consumers have strong purchasing power.

But the oil-rich countries lack textiles and other light sectors, offering cross-border e-commerce opportunities for products like apparel.

Alibaba’s AliExpress tops the list, which mainly reviews the performances of third-party business-to-consumer e-commerce platforms targeting overseas consumers.

The report also showed that South American markets pose rising growth potential while developed markets in Europe and the US remain attractive to Chinese e-commerce players.

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