RBI launches digital rupee ₹; Nykaa profit surges 344%💄; Twitter Blue tick for $8/month✔️
RBI launches digital rupee ₹; Nykaa profit surges 344%💄; Twitter Blue tick for $8/month✔️
RBI launches digital rupee pilot, Nykaa Q2 results: profit surges 344%, Twitter Blue tick will cost $8 a month - Elon, Funding Deals and more.
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RBI launches digital rupee pilot for the wholesale segment₹
The Reserve Bank of India (RBI) launched a pilot for India's central bank digital currency (CBDC) – the digital rupee – for the wholesale segment on Tuesday. The central bank identified these nine banks to participate in the project: SBI, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC.
The pilot’s use case will be to settle secondary market transactions in government securities, with the e-rupee expected to make settlements in the interbank market cheaper and more efficient, the RBI said in a statement.
The RBI said, "A CBDC would differ from existing digital money available to the public because a CBDC would be a liability of the Reserve Bank, and not of a commercial bank."
Nykaa Q2 results: profit surges 344% YoY to Rs 5.2 crore; revenue up 39%💄
Nykaa reported a 344% year-on-year (YoY) increase in net profit to Rs 5.2 crore in the September quarter (Q2). Its quarterly revenue from operations rose 39% YoY to Rs 1,230.8 crore.
The lifestyle retailer's gross merchandise value or GMV rose 45% YoY to Rs 2,345.7 crore during the quarter, while the gross margin increased to 45.3% from 42.7% in the year-ago period.
CEO Falguni Nayar said consumer demand for premium beauty, personal care and wellness was showing signs of buoyancy as the company geared up for a promising H2 FY23.
Hot Shorts⚡
SettleMint, the blockchain application development platform for the private and public sector has raised $16 million in Series A funding led by UK-based Molten Ventures.
Local butcher stores sourcing and tech-enabling startup The Meat Chop has secured Rs 7 crore led by Mohan K, Ankur Agarwal, Meenakshi Sundaram, Jaikumar R, Rahul Mahipal, Omar Bin Brek, Amith D’Souza and other angel investors.
Health tech company Mocero Health has raised a seed round of Rs 1.3 crore led by Inflection Point Ventures.
Twitter Blue tick will cost $8 a month, announces Elon Musk✔️
After days of speculation, social media bargains on opinions and just four days after his takeover, Elon Musk announced that Twitter will charge $8 a month for its verified profiles.
This means everyone who has a verified profile will have to cough up $8 to avail of that feature on Twitter.
“Twitter’s current lords & peasants system for who has or doesn’t have a blue checkmark is bullshit. Power to the people! Blue for $8/month,” the new CEO tweeted.
Musk also said the price will be adjusted as per the country proportionate to its purchasing power parity.
Tweet of the day🐥
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