News Roundup: Startups can raise up to $3 million each via external commercial borrowing: RBI

Apple Announces New Mackbook Pro With Touch Bar

In the coming months, Twitter will shutdown Vine.

We value you, your Vines, and are going to do this the right way. You’ll be able to access and download your Vines. We’ll be keeping the website online because we think it’s important to still be able to watch all the incredible Vines that have been made. [source]


new-macbookpro

Apple announces 13” Mackbook Pro with Touch Bar

This week marks the 25th anniversary of Apple’s first notebook.  

The 13-inch MacBook Pro starts at $1,499 (US), features a 2.0 GHz dual-core Intel Core i5 processor with Turbo Boost speeds up to 3.1 GHz, 8GB of memory and 256GB of flash storage, and ships today. 

The 13-inch MacBook Pro with the revolutionary Touch Bar and Touch ID starts at $1,799 (US), and features a 2.9 GHz dual-core Intel Core i5 processor with Turbo Boost speeds up to 3.3 GHz, 8GB of memory and 256GB of flash storage, and ships in two to three weeks.


Sachin Bansal looks to set up lobby group for Indian startups

The Flipkart co-founder is in talks with Ola’s Bhavish Aggarwal, Snapdeal’s Kunal Bahl, Paytm’s Vijay Shekhar Sharma and IAMAI (Internet and Mobile Association of India) chairman Kunal Shah to be part of the lobby group, that will represent the interest of Indian startups with the government for favourable laws, countering Chinese and US Internet companies as well as Indian brick-and-mortar retail lobby.

While IAMAI does to a certain extent represent Indian startups, but according to some, it’s dominated by foreign companies. It’s not clear who will join the lobby, and what the structure of the group be like. (Source)


Startups can raise up to $3 million each via external commercial borrowing: RBI

The Reserve Bank of India (RBI) has allowed startups to raise External Commercial Borrowings (ECB) of up to $3 million in a financial year. The central bank said that startups can raise ECB in Indian rupees, or in any other convertible currency or a combination of both.

Elaborating the eligibility criteria, the apex bank said an entity should be recognised as a startup by the Central government as on the date of raising ECB.

ECB is an instrument used in India to facilitate the access to foreign money by Indian corporations and PSUs (public sector undertakings). It is for the first that startups will be allowed to access overseas money via ECB. The benefit for firms is that debt raised in domestic market can be repaid using ECB, as the interest rate for ECBs is much lower. (Source)