TRENDS
The cyber route to making money
Many Indian businesses are going online nowadays and setting up low-cost, quick-buck business ventures. Some entrepreneurs who have spotted such opportunities have become 'online' entrepreneurs by investing around Rs 1.5 million (US$ 30,357)- Rs 2 million (US$ 40,474). Rishad Mehta's Foodzig.com portal was conceived in August of 2011, his venture has delivered 1,000-1,800 orders in the past six months. Importantly, Foodzig.com reached the break-even point last month.
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The inborn ability to nurture children is driving women in Gujarat to the business of grooming toddlers. Close to 80 per cent of the pre-school franchisees in the state are run by women entrepreneurs. Investing anything between Rs 300,000 (US$ 6,069) and Rs 800,000 (US$ 16,183) the businesswomen are comfortably taking home Rs 50,000 (US$ 1,011) per month.
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Starbucks, Tatas sign JV to set up cafes
The world's biggest coffee chain - Starbucks is finally in India. It has formed a joint venture (JV) with Tata Global Beverages (TGB), to roll out its cafes nationwide. Tata Starbucks is looking at opening 50 stores by the end of the year, starting with New Delhi and Mumbai over the next seven-eight months.
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In an endeavour to promote mobile banking, the Reserve Bank of India (RBI) has removed the transaction limit of Rs 50,000 (US$ 1,019) per customer per day on mobile banking transactions. However, banks are free to set their own per-transaction limits based on their own risk perception with the approval of their boards.