#26July - Snapdeal Founders Booked For Selling Fake Products Again; Govt Concerned About Data Privacy Implications Of WhatsApp Payments

? Another case has been registered against e-commerce marketplace Snapdeal founders Kunal Bahl and Rohit Bansal in Kota, Rajasthan after a local Congress leader alleged that he received fake products.

? Just a day after the announcement of WhatsApp Payments’ tentative launch later this year, the Indian government has reportedly raised concerns about the users’ data privacy on WhatsApp Payments.

?As the startup culture catches momentum in India, another Public Sector Undertaking (PSU) is set to join the investment bandwagon. The state-owned Bank of Baroda (BoB) has decided to encash that market by providing loans to startups.

?After months of uncertainty, Amazon is now optimistic of stable ecommerce policy in India. 

?Microsoft announced that it is investing $1 Bn in partnership with OpenAI to support the development of an AI framework and models for AI applications across operations and services, built on the company’s Azure cloud service.

? boAt has raised INR 16 Cr in debt funding from venture lending firm InnoVen Capital. Last week, the company has raised $2.9 Mn in venture debt from Sachin Bansal’s BAC Acquisitions. 

? American private equity firm Blackstone has invested $250 Mn in Kishore Biyani’s Future Group which owns supermarket chains such as Bigbazaar, Brand Factory, EasyDay and more.