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Unicommerce to set up 800 warehouses this fiscal


Unicommerce to set up 800 warehouses this fiscal Supply chain Saas technology company Unicommerce is gearing up to set up 800 warehouses by the end of this fiscal. The platform is currently running 7200 warehouses as of now, along with over 96 million SKUs with sectors including FMCG, beauty and wellness, fashion and accessories and eyewear. The company is also working on coming up with multiple new categories and business models. RBI forfeits Kotak Mahindra Bank and Indusind Bank for not complying with certain guidelines. The Reserve Bank of India has forfeited Kotak Mahindra Bank and Indusind Bank of INR 1.05 crore as per the Section 26A of the Banking Regulation Act. After examining the Risk Assessment Reports, Inspection Reports and other correspondences, RBI has come to this conclusion. Karnataka, Gujarat and Meghalaya are the best states for the startup ecosystem, says DPIIT rankings. As per the Department of Promotion of Industry and Internal Trade recent startup ranking release, Karnataka, Gujarat and Meghalaya have secured best ranking for startup ecosystem. The ranking is being divided into two categories. While Karnataka and Gujarat are in Category A, Meghalaya is in the B Category. Celsius lays off 150 employees. Cryptocurrency lending company Celsius has laid off 150 employees amid global crypto market’s massive meltdown. This lay off is approximately a quarter of the company’s total workforce. In a blogpost the company wrote and I quote “We are focused and working as quickly as we can to stabilize liquidity and operations, in order to be positioned to share more information with the community” unquote. YAP bags USD 41 million from a funding round and is eyeing for another USD 20 million. United Arab Emirates’ digital banking startup YAP has bagged USD 41 million funding from Saudi Arabia’s Aljazira Capital, Abu Dawood Group, Astra Group and Audacia Capital. The company is eyeing on to raise another USD 20 million from this Series A funding round. With this finding, the platform is looking forward to expand into Saudi Arabia, Egypt, Pakistan and Ghana, said the company’s co-founder and chief executive Marwan Hachem. 

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