india – Startup Fortune https://startupfortune.com Startup News, Guides, Training and Entrepreneur Community Forum Fri, 21 Aug 2020 14:39:20 +0000 en-US hourly 1 https://wordpress.org/?v=5.8.8 https://startupfortune.com/wp-content/uploads/2020/08/ICON.png india – Startup Fortune https://startupfortune.com 32 32 Hyderabad Based Startup E-Trio Aims to Make Vehicles Eco-friendly https://startupfortune.com/hyderabad-based-startup-e-trio-aims-to-make-vehicles-eco-friendly/ https://startupfortune.com/hyderabad-based-startup-e-trio-aims-to-make-vehicles-eco-friendly/#respond Fri, 21 Aug 2020 14:39:20 +0000 https://startupfortune.com/?p=2858 Climate change is one of the main problems faced by the world today. In 2019, the Earth’s surface temperature was the second warmest since modern record keeping began in 1880. The recent five years were the hottest of the last 140 years. Extreme weather changes, increase in sea levels, increase of toxics in the air, poor water quality, and shrinking natural habitats are the other ill effects of climate change.

The main contributors to this state are the greenhouse gases and other fluorinated gases. It is vital to know that vehicular emissions are known to account for a whopping 40 percent of these gases. With increasing population and better standard of livings there is an increase in the number of vehicle on roads. Hence, shifting gears to renewable and clean sources of energy is the top agenda for India.

In the late 90s, the Indian government started the use of Compressed Natural Gas (CNG) in automobiles. The focus is shifted to electric power now. The government has laid out a target of 30 percent adoption of electric vehicles by 2030 and about 474 million tonnes of oil equivalent (Mtoe) and 846 million tonnes of carbon dioxide emissions can be stopped.

E-Trio, a Hyderabad-based startup is attempting to make this a reality. By converting conventional fuel-powered automobiles into electric ones through its retrofitting process, they intend to make vehicles eco-friendly, cost-effective, and efficient.

Sathya Yalamanchili and Deepak MV founded the startup in 2017. E-Trio was established with an aim to accelerate the rate of adoption of electric vehicles. It is transforming existing fuel-powered commercial vehicles into an electric one.

According to Deepak MV, “With the number of motor vehicles on Indian roads doubling every decade, the level of pollution in the atmosphere is only going to increase. Electric mobility not only helps cut down harmful discharges but also reduces running costs.”

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Supreme Court Of India Lifts Cryptocurrency Ban, Quashes RBI’s Complete Ban And Allows Trading https://startupfortune.com/supreme-court-of-india-lifts-cryptocurrency-ban-quashes-rbis-complete-ban-and-allows-trading/ https://startupfortune.com/supreme-court-of-india-lifts-cryptocurrency-ban-quashes-rbis-complete-ban-and-allows-trading/#respond Wed, 04 Mar 2020 06:26:59 +0000 https://startupfortune.com/?p=932 Big day for blockchain enthusiasts and cryptocurrency-entrepreneurs in India. In a massive verdict, The Supreme Court of India has lifted the ‘cryptocurrency or other digital assets trading ban’ imposed by Reserve Bank Of India in 2018. In a 2018 circular, the Reserve Bank of India (RBI) had banned all VCs, including Bitcoin, in the country and stated it does not consider them ‘legal tender’.

The supreme court calls the RBI ban as unconstitutional.

The Supreme Court on March 4 has lifted the complete ban on cryptocurrencies, it will likely come as a big relief to virtual currency (VC) proponents in the country.

While quashing the complete ban on cryptocurrencies, the SC declared RBI’s circular as ‘unreasonable and disproportionate’. It has also set aside the RBI’s ban on banks’ dealing with cryptocurrencies.

The apex court termed that RBI circular, dated April 6, 2018, as unconstitutional. The RBI had in an affidavit in January told the SC it “had not banned cryptocurrencies, but only ring-fenced regulated entities from associated risks.”

The affidavit was filed against a petition filed by the Internet and Mobile Association of India (IAMAI).

Meanwhile, Bitcoin, the world’s largest cryptocurrency, on February 12 surged past $10,000 mark once again to touch a fresh high for CY20. It was trading at $8,821.07 at 11.05 am.

The government had constituted an inter-ministerial committee in 2017 under the chairmanship of secretary, economic affairs, with Secy (MeiTY), Chairman (SEBI) and deputy governor, RBI as members, to study the issues related to virtual currencies and propose specific action to be taken in this matter.

The draft of Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019 proposes 10-year jail for those who “mine, generate, hold, sell, transfer, dispose of, issue or deal in cryptocurrencies directly or indirectly.”

In April 2018, the RBI gave a three-month notice to the banking sector to stop their involvement in any sort of cryptocurrency transactions and thousands of crypto-traders India faced a setback.

In September 2018, India’s largest cryptocurrency exchange Zebpay shut down after the Reserve Bank of India (RBI) had imposed an apparent ban on virtual currencies. Zebpay, founded in 2014, was primarily responsible for introducing cryptocurrency trading to thousands of people in India.

Unocoin, another leading cryptocurrency trading platform in India, was laying off the majority of its staff amid regulatory uncertainty. The Bengaluru-based startup reportedly scaled down its team to merely 14 employees in April from over 100 people in February 2018.

While the world has found renewed interest in cryptocurrencies after Facebook announced its cryptocurrency project Libra, the company ruled out an entry in India, with sources saying it would not be available in countries where cryptocurrencies are banned.

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Promote Social Inclusion, Stresses Women Startup Summit India Participants https://startupfortune.com/promote-social-inclusion-stresses-women-startup-summit-india/ https://startupfortune.com/promote-social-inclusion-stresses-women-startup-summit-india/#respond Sat, 03 Aug 2019 04:56:27 +0000 https://startupfortune.com/?p=175 India offers an ecosystem that provides far stronger participation from women entrepreneurs, removing barriers that prevent them from starting commercial projects, said organizers of the Women’s Startup Summit, which took place in Kochi, the initial center of the Indian state of Kerala. .

It was also shown that most women who were educated in high-level skills, such as Kerala, had not yet realized their potential in business ventures. “Proposals and issues raised at such meetings will have an impact on the council’s decision,” she added in the inaugural address that day, which was held in collaboration with the Native Women’s Network in the Confederation Industry.

It is a mistake to maintain the general belief that new companies are systematically linked to new and innovative products. “There are products based on needs and others based on possibilities. Women must use their great potential,” he said.

The meeting was an opportunity for women to restore business opportunities that are often missed due to system failures. Because women have proven their superiority in higher education, KSUM must promote their professional profile by facilitating opportunities.

The meeting took place in the context of 13% women’s participation in the ecological ecosystem of Kerala and a proactive approach by the state government to increase women’s participation in this sector.

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