In Brief: CCI clears Reliance-Future Group deal; Paytm Postpaid rolls out EMI options

In Brief: CCI clears Reliance-Future Group deal; Paytm Postpaid rolls out EMI options
Photo Credit: Reuters
23 Nov, 2020

The Competition Commission of India (CCI), on Friday cleared Reliance Retail-Future Group deal. The Mukesh Ambani led company, in August, had announced the acquisition of Future Group’s retail, wholesale, logistics, and warehousing businesses for Rs. 24,713 crore. Announced via a tweet and notice to Indian stock exchanges, the nod from CCI comes as a major setback for Amazon, which has argued that the deal violates the terms of an agreement that it had signed with Future as part of a separate deal. The Jeff Bezos-led conglomerate had even won an interim injunction against the asset sale and intimated SEBI, CCI and other Indian regulators about the same. Now, with the approval, Reliance will get access to close to 1,800 Future Group stores, including Big Bazaar, FBB, Easyday, and Central, in over 400 Indian cities, strengthening its e-commerce play.

Paytm Postpaid launches flexible EMI option for users

Paytm Postpaid said it has launched the option of flexible EMIs (equated monthly instalments) for its customers. Under this feature, users of the credit service offered by the digital payments platform will be able to convert their monthly bill into their instalments and pay it over a certain period of time with nominal interest rates. The option to convert to EMIs would be available to users within the first  seven  days of bill generation, the company said in a statement, noting that it provides users with credit of up to Rs 1,00,000. 

PhonePe adds all electricity boards to allow pan India bill payments

Homegrown digital payments service PhonePe on Monday announced it has on boarded all 73 electricity boards operational in 28 Indian states and 8 union territories on its platform. The move, the company said in a statement, is aimed at ensuring its entire user base of over 250 million is able to pay their electricity bills seamlessly using the PhonePe app, according to a statement.

Agri commodity platform Bijak launches in three more states

Krishiacharya Technologies, the startup behind B2B agri-commodity trading platform Bijak, has announced the launch of its marketplace in three more states – Maharashtra, Karnataka, and Andhra Pradesh. The move, the company said, will connect 10,000 buyers and sellers in Maharashtra and 5,000 each in Karnataka and Andhra Pradesh, allowing them to deal in more than 90 agricultural commodities. Users in these regions could also use the app in their local languages, according to a statement. Overall, Bijak is now operational in 25 Indian states.

Vedantu to offer Masterclasses via Airtel Digital TV

Bengaluru-based edtech startup Vedantu said on Monday that it has partnered with Airtel Digital TV to deliver online science and math masterclasses to students in classes 6 to 12. The pre-recorded sessions will run through two dedicated DTH channels, which will be available to 17 million Airtel Digital TV subscribers at a price of Rs 4 per day. The content, according to the companies, will come directly from best-in-class faculty, including graduates from IIT and AIIMS, and also have repeat telecast and interactive quizzes for students. Regional language content is also being planned, according to a statement.