National Payments Corporation of India (NPCI)’s domestic card payment scheme RuPay is getting more adoption from online merchants: It has tied-up with Amazon and Jet Airways, enabling RuPay debit card holders to make online transactions on the respective sites, reports The Paypers. (more…)

On the Rediff conference call held last week, Rediff Chairman and CEO Ajit Balakrishnan twice told Rajeev Arora, an investor, that he’s free to sell his shares and move on. Balakrishnan was responding to a desperate query from Arora regarding Rediff’s cash situation: the company has $12.5 million in cash and has reported losses of over $3 million in its last three quarters. Arora, who said he had been invested in Rediff for five years, pointed out that addressing the cash situation is a current (and) immediate need, questioned Rediff’s ethical responsibility to shareholders, and whether a 10 year period isn’t enough for the company to increase revenues. (more…)

Reliance Industries’ data services venture Reliance Jio Infocomm has appointed former Deutsche Telekom executive Rainer Deutschmann as its new Chief Products and Innovation officer, reports the Economic Times. (more…)

UK-based ISP New Call Telecom has acquired a majority 70% stake in the mobile instant messaging and VoIP company Nimbuzz Nimbuzz for about $175 million, reports the Economic Times. (more…)

Centre for Railway Information System (CRIS) has launched a free app on Android called NTES (National Train Enquiry System) which gives information about train and platform schedules, apart from the ability to ‘spot your train’ and ‘live station’, as well as information on trains that are running late or have been diverted to other stations.  (more…)

Update: SoftBank Internet and Media Inc (SIMI) has officially confirmed (pdf) that SoftBank Group is investing $627 million in Snapdeal. With this investment, SIMI mentions that SoftBank Group is now the largest investor in Snapdeal. SIMI CEO Nikesh Arora is joining the company board as part of the investment. (more…)

Update: SoftBank Internet and Media Inc (SIMI) has officially confirmed (pdf) that it is leading a $210 million into Olacabs along with existing investors. As part of the deal, SIMI CEO and former Google executive Nikesh Arora will be joining the company board. (more…)

IndiaProperty.com has launched the 3D PanoX App, which claims to use the phone’s camera to provide home buyers with a 3D virtual experience of the property. The app aims to integrate the print and digital medium by letting builders provide new ‘app integrated’ features through their regular print advertisements, brochures etc. The app currently seems to be available only on Android.

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Times of India group’s digital venture Times Internet has acquired the online personal finance platform Moneysights for an undisclosed amount. (more…)

Not happy news for Rediff.com investors on the day before Diwali, as the company announced a $3 million loss and a 22% decline in advertising revenue. What’s particularly worrying is that Rediff has only $12.5 million cash in bank, which means that the company will have to raise money, increase revenues and/or cut costs. (more…)