In no particular order, here are MediaNama’s top 10 stories of the week ended 22nd April 2018
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Paytm to offer forex services, cross border remittances soon: Reports
Paytm is reportedly set to foray into foreign exchange and cross-border payments as well under its payments bank entity, having already received the authorised dealership (AD Category II) licence from the Reserve Bank of India. According to the central bank, authorised money changers can offer services of foreign exchange to foreigners travelling in India as well as Indians looking for foreign exchange before embarking on a trip abroad. Read it here
After a year’s delay, VICE is finally live in India
Canadian digital media and broadcasting company VICE Media which was supposed to start its India operations in Q1 of 2017, is now finally live in India. For the past one year, the media company was hiring and prepping up for its India launch. Read it here
Facebook explains data collection policies, says other companies do it too
Following CEO Mark Zuckerberg’s near 10 hours long Congressional hearings, Facebook is now offering details to its users (and US legislators who asked) on how exactly it collects data from people when they’re not logged into the platform. Read it here
SC stays partial sale of RCom assets to Jio until final decision on the matter
The Supreme Court has stayed an order by the National Company Law Appellate Tribunal (NCLAT) which allowed partial sale Reliance Communications’ assets to Reliance Jio. The stay will remain until the NCLAT gives its final decision on the matter. The judgment comes after HSBC Daisy Investments (Mauritius) Ltd approached the Supreme Court, challenging the tribunal’s April 6 order which had cleared the RCom-Jio deal. Read it here
Facebook starts fact-checking fake news in India, partners with BOOM
Facebook has announced a partnership with Mumbai-based fact-checking website BOOM, to help the social network tackle the spread of fake news on its platform. The “third party fact-checking program” will start with a pilot in Karnataka ahead of the state elections next month. The announcement of the pilot program was made in a company blog post, which also attempts to explain how the fact-checking process on Facebook presently works. Read it here
Two-wheeler rental startup Vogo to raise Rs 40-45 crore from Ola and others
Two-wheeler rental startup Vogo Automotive is set to raise Rs 40-45 crore from cab hailing platform Ola and venture capital firms Stellaris Ventures Partners and Matrix Partners, as per media reports. The round will be reportedly led by Ola. Read it here
Uber COO in India: Talk about investment, plans, and expansion in India
Uber’s Barney Harford, who took his position of COO in the company in January this year, is on his four-day maiden trip to India. During his trip, which comes after two months of CEO Dara Khosrowshahi’s maiden trip in February, Harford spoke about Uber’s plans and investments for India, and how the country is key to Uber’s performance in the coming years, as reported by various media publications. Read it here
Constitutional Validity of Aadhaar, Day 31: No reasonable expectation of privacy against collection of demographic data.
This is a record of the proceedings in the Supreme Court bench hearings on the Constitutional validity of Aadhaar, which began on Feb 13, 2018. You may read the previous days’ proceedings here: Day 1, Day 2, Day 3, Day 4, Day 5, Day 6, Day 7, Day 8, Day 9, Day 10, Day 11, Day 12, Day 13, Day 14, Day 15, Day 16., Day 17, Day 18, Day 19, Day 20, Day 2, Day 22, Day 23, Day 24, Day 25, Day 26, Day 27, Day 28, Day 29 and Day 30. Read it here.
Facebook tests mobile recharge service in India, fuels speculation on full-fledged payments platform
Facebook has rolled out a new service in India that allows users to recharge their prepaid mobile connections. Even though it is not the big splash that was being anticipated by various media outlets this Facebook’s first step into the digital payments ecosystem in India. Read it here
True Balance gets $23M from Line, Naver, Shinhan Bank and others
True Balance, a digital wallet and financial services platform, has received a new tranche of $23 million funding from a consortium of investors including Japan-based global messenger Line Ventures Corporation, Korean search engine Naver, Korean bank Shinhan Bank along with TS Investment and other partners. Read it here