Amazon to Launch ‘Tez’ Soon🚚
Sensex surges over 1100 points, Binny Bansal leaves PhonePe’s board, Paytm Unveils UPI Lite Auto Top-Up, Funding Deals and more.
Good morning and welcome to Monday’s edition of Rise & Shine!
"A great leader's courage to fulfill his vision comes from passion, not position."
— John C. Maxwell
John C. Maxwell’s inspiring words today remind us that true leadership isn’t about titles or positions—it’s fueled by passion and the courage to pursue a vision.
Courage stems from a deep commitment to one’s goals and a willingness to take risks to make them a reality.
Tech Updates
Amazon India to Launch Quick Commerce Service ‘Tez’ Soon
Amazon India is set to enter the booming quick commerce market with its new service, which is reportedly codenamed Tez. According to a Reuters report, the e-commerce giant plans to roll out the service by late December or early 2024. This move positions Amazon as a new player in India’s competitive quick commerce space, currently dominated by Blinkit, Zepto, and Swiggy Instamart.
BSE Sensex surges over 1,100 points; Nifty50 reclaims 24,200 as bulls charge back
The Indian stock market opened on a bullish note on Monday, with the benchmark BSE and NSE indices logging over 1.5 percent gains. The BJP-led Mahayuti alliance won the Maharashtra legislative elections by a landslide.
After Flipkart, Binny Bansal leaves PhonePe’s board
Binny Bansal, co-founder of Flipkart, has resigned from PhonePe’s Board of Directors. Bansal has been a board member since Flipkart acquired PhonePe in 2016. Notably, the digital payments firm separated from Flipkart in December 2022. However, Binny has not sold his stake and is still the single largest individual minority shareholder at PhonePe. In January, he took a complete exit from Flipkart's e-commerce marketplace, which he co-founded with Sachin Bansal.
Paytm Unveils UPI Lite Auto Top-Up For Daily Payments Under INR 500
Days after launching ‘UPI International’ in select overseas markets, fintech giant Paytm has now rolled out Unified Payments Interface (UPI) Lite automatic top-up facility for daily payments under INR 500 that do not require a pin. The feature will allow users to automatically recharge their UPI Lite balance when it falls below a set limit, Paytm said in a filing.
Payments up to INR 500 can be made per transaction without putting a pin in UPI Lite with a daily limit of INR 2,000.
Funding Deals
Elchemy, a tech-driven cross-border specialty chemical distribution platform, announced the successful completion of its USD 5.6 million Series A funding round.
Beyond Appliances, an innovative smart kitchen appliance brand has raised $2 million in its seed round led by Fireside Venture Investment Fund III.
🧑🏻🏫 Short Story: The Teacher’s Mission
Maya, a schoolteacher, noticed that many of her students struggled with reading. Though she wasn’t in a formal leadership role, her passion for helping children drove her to start an after-school reading program. She rallied support from fellow teachers and parents, dedicating time and effort to improve literacy rates.
Her initiative transformed her students’ skills and inspired her community. Maya’s leadership didn’t come from a title but from her unwavering passion and commitment to her vision.
Tweet of the day🐥
As you start your week, remember that leadership begins with passion and the courage to act. Whether or not you hold a formal position, you can lead by example and make a meaningful impact.
Rise & Shine is here to remind you that true leadership comes from the heart.
Have a passionate and inspiring Monday!
Thanks for reading till the end!