Nikita Garia, MINT Bangalore, 26 August 2014 San Francisco-based Uber Technologies Inc. may be forced to change its business model, which relies on cashless transactions, after India’s central bank on Friday issued a notification that will reduce the convenience associated with the taxi booking app. The Reserve Bank of India (RBI) on Friday said Uber and other companies that offer app-based purchases cannot allow customers to pay with their credit cards without a two-step authentication process. Customers have hitherto simply had to enter their credit card details at the time of signing up with Uber. Every ride was automatically charged…
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Meghna Maiti, Outlook Business Mumbai, 22 August 2014 The first customers were the British in pre-Independence Delhi, who queued up at Kwality in Connaught Place’s Inner Circle for a cupful of Iqbal Ghai and Pishori Lamba’s hand-churned ice cream. As the years went by, even as Kwality and Gaylord restaurants became renowned for their food, it was the ice cream sold under the same brands that was the real commercial success — so much so that Kwality became generic for ice-cream for several generations of Delhiites. The association with Kwality ended in 1998 when Ravi Ghai, Iqbal’s son and the…
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Rashmi Pratap, The Hindu Businessline Mumbai, 22 August 2014 It was the peak of summer and Sahil Gilani was craving Indian food as he had been travelling overseas for several weeks. Dosa was what he wanted, and it was not easy to find in Central London. After asking acquaintances, he arrived at the food court of the department store Selfridges on Oxford Street. This was among the city’s handful of eateries serving the fermented crepe. Gilani ordered a dosa and found it tasted all too familiar. He asked the waiter how it was made but the latter didn’t know. Gilani…
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Sapna Agarwal, Mihir Dalal, Mint Mumbai/Bangalore, 22 August 2014 Gap Inc., which sells brands such as Banana Republic, Old Navy and Piperlime, has signed a franchise agreement with Arvind Lifestyle Brands Ltd, a unit of Arvind Ltd to enter India. The agreement will be formally announced on Friday. After the Indian government allowed 100% foreign direct investment (FDI) in single-brand retail in September 2012, a handful of companies including H&M Hennes and Mauritz AB and Swedish furniture retailer Ikea announced that they would enter the Indian market on their own. However, a majority of global retailers prefer the joint venture…
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Reghu Balakrishnan, Business Standard Mumbai, 20 August 2014 Online prasad and virtual aarti are passe. To secure a bigger chunk of the spiritually-oriented, e-commerce sites in the religious segment are now going beyond commoditised services. So, ready yourselves for combo offers tailor-made for your kind of devotion. OnlinePrasad, the largest player in this sector, has launched a combo offer for devotees of Lord Krishna. Goonjan Mall, founder, OnlinePrasad, says the site has increased its catchment area from four temples to 50, as devotees are no longer happy with prasad from the Mathura temple alone and want prasad from all leading…
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