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  • ‘Missing Trade Certificates’ Put Ola Under Government Investigation

    Ola Electric is under more pressure than ever after the Transport Ministry requested trade certificates from the Bengaluru-based EV manufacturer. According to a media outlet, the company received a show-cause notification .

    The notice stated that Ola Electric must respond to the aforementioned questions within seven days of receiving this letter in order to prevent any negative consequences.

    Notice Also Seeking Details of Sales and Service Centres

    On 24 April, Ola received a new show-cause notice that requested information on the number of sales and service centres the business now operates. The notice further asked about the number of trade certificates it has obtained in the last three years and the date of issuance of each certificate.

     Additionally, Ola Electric must clarify if its facilities are used to store unregistered automobiles. In addition to the aforementioned, the EV manufacturer must disclose the model and variant-by-variant information for the 7,820 EV scooters it sold in February.

    Ola Electric stores operating without a trade certificate have been asked to close by the Maharashtra transport department, according to a media source. In a show-cause email to RTOs, Maharashtra’s joint transport commissioner stated that action should be taken to close the centre and rescind the original trade certificate.

    Outcome of the Raid Conducted on Ola Outlets

    Out of 146 Ola stores overall, 121 were discovered to be operating without a trade certificate at the time of the raid. 192 Ola electric scooters have been confiscated by the authorities, and 75 of these have already been closed.

    Regarding a letter from the authorities ordering the immediate closure of more than 100 showrooms in Maharashtra, Ola responded in an exchange filing on April 25. It stated that the brand was unaware of any such conversations or occurrences.

    Furthermore, through its notification dated March 21, 2025, the business has already notified the exchange that it has received notices in four states about trade certifications for outlets situated in those states.

    Unit Sale Discrepancy

    The e-scooter manufacturer was recently under investigation for a discrepancy between its reported February sales and actual registrations. Ola reported selling over 25,000 units in their filing on February 28.

    The official portal’s automobile registration tally, however, provided a different picture. Only 8,600 Ola Electric scooters were registered on the portal during that time, according to the data.

    Since the government has become aware of this disparity, the ministries of highways, road transport and heavy industries have asked the business for information in order to elucidate Ola’s sales numbers.

    The “large gap” between car registrations according to the VAHAN portal and sales according to the company’s regulatory filing on February 28, 2025, for the month of February this year is the subject of these enquiries.

    In response, the SoftBank-backed company informed the ministry that its February sales comprised client reservations for 1,395 Roadster X motorcycles and 10,866 third-generation e-scooters. The business called them “confirmed orders”.

  • On iOS, Perplexity AI Launches an AI Voice Assistant

    Perplexity CEO Aravind Srinivas revealed on 24 April that AI’s voice assistant would be available on its iOS app. Perplexity presents a competitive alternative to Apple’s redesigned Siri assistant, which is powered by Apple Intelligence.

    Previously, the update was only available to Android users. While announcing the news, Srinivas stated on X that anyone may ask it to play anything, including favourite music, podcasts, and difficult-to-find videos.

    For example, playing the video of Katy Perry kissing the ground after falling from the rocket, the Donald Trump version of Baby Shark, or the podcast in which Andreessen talks with Lex about browsers.

    Additionally, it can send emails using Apple Mail or set up meetings using Apple Calendar, though Srinivas notes that the functionality is still a little “janky”. Furthermore, the AI assistant can arrange a cab trip from Uber and search for a restaurant you want to visit.

    How to Operate the New Feature?

    Users can click the microphone button to begin speaking as soon as the program opens. Even when they are not using the app, users can still communicate with the voice assistant. Furthermore, unlike Apple Intelligence, which is limited to iPhone 15 Pro models and later, the software is compatible with slightly older iPhone models, such as the iPhone 13.

     The assistant still lacks ChatGPT’s ability to access the phone camera and provide context for a photo. Additionally, it lacks the ability to set alarms, silence notifications, or access iPhone settings.

    Additionally, Srinivas told users that after turning on voice mode, it takes three to four seconds to connect with the assistant; however, they are aiming to reduce this time. He pointed out that, similar to how people use Siri, he can set his iPhone’s action button to Perplexity Voice Mode so he can utilise this without opening the programme.

    According to recent sources, as Apple reorganises its leadership, the new Siri has been further postponed until 2026.

    More and More big Companies Opting for AI

    Big businesses are setting the example as organisations begin to implement administrative reforms intended to create future value from emerging AI. Organisations are starting to take actions that have a direct impact on their bottom line, such as reworking procedures as they use gen AI and assigning senior leaders to crucial positions like managing AI governance, according to the most recent McKinsey Global Survey on AI.

    The results also demonstrate that companies are hiring for new AI-related positions and retraining staff to take part in AI deployment as they attempt to reduce an increasing number of gen-AI-related hazards. Businesses with yearly sales of at least $500 million are evolving faster than smaller ones.

  • More Meta Layoffs, Reality Labs Employees Now in the Firing Line

    According to reports, tech firm Meta has laid off employees in its Reality Labs division, mostly affecting hardware development and Oculus Studios teams. One of the projects affected is Supernatural, a virtual reality fitness game that Meta purchased for more than $400 million.

    According to the firm, the change is intended to increase productivity while maintaining the company’s commitment to creating content for Supernatural and Quest. These recent layoffs come after a larger round of job cuts in February.

    That month, Meta slashed about 3,600 positions, or around 5% of its global employment, citing performance-related issues. The precise number of layoffs is yet unknown. The layoffs are in line with CEO Mark Zuckerberg‘s goal of creating a more streamlined, flexible company.

    Meta Facing Outrage on Social Media

    Social media users reacted negatively to the February layoffs, with many blaming the corporation for putting executive compensation ahead of the livelihoods of normal workers.

    In addition to public outrage, a number of former Meta employees claimed that the layoffs weren’t just performance-based. Some said they were fired for reasons unrelated to their work performance or even while they were on authorised leave.

    Meta, one of the most popular social media sites in the world, mostly makes money via advertising. As it fights for the top spot in the rapidly changing field of generative AI technology, the company’s multibillion-dollar investment in AI infrastructure is fueled by that revenue stream.

    Ray-Ban Meta Glasses with AI will soon be Available in India

    The Ray-Ban Meta, one of Meta’s newest smart glasses, will soon be available in India, the company has revealed. These glasses, which are powered by Meta AI and provide a distinctive fusion of fashion and technology, were created in collaboration with the international eyewear manufacturer EssilorLuxottica.

    The glasses were first released in a few regions last year, but they are now being released in more nations, such as Mexico and the United Arab Emirates, with India likely to follow. The glasses, which are made for hands-free interaction, allow users to send messages, control music, translate languages, and ask questions by simply saying, “Hey Meta.”

    They can take pictures, record videos, and make calls via apps like Instagram, WhatsApp, and Messenger in addition to having built-in cameras and speakers.

    The Ray-Ban Meta spectacles were initially introduced in September 2023 as the successor to the original Ray-Ban Stories, which were released in 2021. With this new iteration, Meta has expanded app support, enhanced design, enhanced sound quality, and added more potent AI functions.

    The glasses are made to feel and look like standard Ray-Bans. However, they are now packed with smart technology that allows users to keep their phone in their pocket and stay connected.

  • Apple Wants to Source all iPhones Sold in the US from India

    According to a media source on April 25, Apple intends to move the assembly of all iPhones sold in the US to India by the end of the year. President Donald Trump’s renewed tariff threats on Chinese imports are the driving force behind this daring effort.

    The initiative is a component of a larger goal to diversify Apple’s supply chain away from China, which continues to control the majority of the tech giant’s production facilities. If this change is successful, India’s current output of iPhones would double to nearly 60 million units per year by 2026.

    US the Most Important Market for iPhone

    Apple’s most significant market is the United States. According to IDC, it made up about 28% of the company’s worldwide iPhone shipments in 2024. International Data Corporation (IDC) is the world’s leading provider of market intelligence, data, and events for the consumer technology, telecommunications, and information technology sectors.

     In addition to helping Apple avoid high tariffs, shifting the manufacturing of iPhones headed for the US out of China lowers the long-term geopolitical risk associated with US-China ties. The change is a direct response to Trump’s “reciprocal tariff” policy.

    His government attacked China with tariffs that included a 20% charge on smartphones and once reached as high as 145%. Even if phones and other electronics were recently spared, the comfort seems to be short-lived.

    Additionally, Trump has proposed additional taxes targeted at goods with a lot of semiconductors, which may affect Apple’s whole product range.

    iPhone Production in India

    According to a media agency’s estimate, Apple produced $22 billion worth of iPhones in India in the fiscal year that ended in March 2025, a 60% increase over the previous year. India currently supplies 20% of the world’s iPhones, a percentage that is expected to rise quickly.

    Along with Tata Electronics, which purchased Wistron’s business and currently manages Pegatron’s production, the majority of its production is housed at Foxconn’s expansive campus in Tamil Nadu.

    Apple’s production strategy, which had been mostly focused on China for almost 20 years, is now at a turning point. Prime Minister Narendra Modi’s administration in India is assisting in paving the road. Apple may profit from new $2.7 billion subsidy programmes intended to increase semiconductor and electronics manufacturing, as well as production-linked incentives.

    But there are still difficulties. Even though iPhone assembly is the last step in the manufacturing process, Apple still gets a lot of its componentry from Chinese vendors. According to experts, it might take years to move the entire supply chain.

    It might take up to eight years to shift only 10% of Apple’s manufacturing out of China. Additionally, the change goes against Trump’s stated insistence that businesses “bring jobs home”.

    According to analysts, India is a better option because the US lacks the infrastructure and labour force necessary to sustain mass iPhone manufacture.

  • Employees Given Five-Day Deadline by the Microsoft HR Head

    According to internal papers, Microsoft has adopted a new performance management guideline. The new policy allows underperforming employees to choose to take a reward and quit the firm rather than enrolling in a performance improvement plan (PIP).

    According to various reports, the company is now providing low-performing workers who choose to leave voluntarily with 16 weeks of compensation.

     This strategy is similar to Amazon’s contentious “Pivot” programme, which has come under fire for reportedly being created more to satisfy firing targets than to actually assist staff members in becoming better workers.

    Microsoft Rolling Out New Tool to Enhance Employees’ Performance

    Microsoft is implementing new and improved technologies to help accelerate high performance and quickly resolve negative performance, according to an internal email sent to managers on April 22 by Amy Coleman, the company’s new chief people officer.

    Workers on PIPs are now faced with a difficult decision. They are now confused with either to embrace the improvement plan with its strict performance goals or accept the severance pay and leave the organisation.

    At the company, the separation programme is known as the “Global Voluntary Separation Agreement (GVSA)”. The compensation will no longer be available to those who choose the PIP, and they only have five days to decide.

    As per the poll mentioned in Coleman’s Email-

    Would you consider taking a payout to leave the company if you were identified as a low performer?

    •No, I would prefer to try to improve

    •Yes, I would take the payout

    Two Year Rehire Ban

    Employees who quit during a PIP or after receiving poor performance reviews are likewise prohibited from being hired again for two years under the new policy. Furthermore, employees who are not performing at their best will be prohibited from transferring to other positions within Microsoft.

    After months of performance reviews at every level of the organisation, Microsoft fired over 2,000 failing workers earlier this year without providing severance pay. According to Coleman’s email, these modifications are meant to promote a culture of accountability and development while producing a consistent and transparent experience across the globe.

    The year-round availability of the performance improvement process will give managers the flexibility to swiftly and openly address performance concerns while giving staff members a choice.

    Layoffs Become a Typical Occurrence in 2025

    With big companies like Google, Microsoft, and others continuing to reduce their workforces, layoffs in the tech sector are not expected to halt in 2025. Companies are still cutting employees in an effort to simplify operations, save money, and emphasise automation and artificial intelligence, even though these figures are much lower than the major layoffs that occurred between 2022 and 2023.

  • VinFast to Launch Car Assembly Plant in India by June 2025

    VinFast, the electric vehicle maker from Vietnam often likened to Tesla, is reshaping its worldwide strategy and focusing much of its energy back in Asia. After a bold push to enter the U.S. market, the company is now toning down its western ambitions and is realigning its expansion with much slower revenue growth than projected in the U.S. and with some big regulatory hurdles in the way. 

    VinFast’s founder and chairman, Pham Nhat Vuong, told shareholders of his parent company, Vingroup, that VinFast will shift its attention to operations in India, Indonesia, and the Philippines.

    India Plant Set for June Launch

    By the end of June 2025, the company plans to inaugurate a facility in India for special vehicle assembly. The plant will initially take on a very local mission, converting “knockdown” kits, basically, an automobile’s guts and other essential components, into complete vehicles that meet India’s right-hand-drive specifications. The company’s assembly plant will have space and infrastructure for up to 150,000 assembled and finished vehicles to leave its doors each year. VinFast’s ambition is to be the first Vietnamese automobile manufacturer to compete in the Indian market. This effort is being aided by the Tamil Nadu state government which has opened its doors for VinFast.

    Challenges in the U.S. Prompt Shift

    VinFast had invested heavily in its push into the U.S. market, but surging logistics costs and extended delays have forced a recalibration. Not only are U.S. tariffs on imports of electric vehicles a big unknown, but the company now knows it must find a way to close the gap between what it spends to deliver electric vehicles to North America and Europe and what its rivals spend. Remarkably, the company has decided to retreat, not permanently, the chief executive insists, but for the time being, because the figures just don’t work.

    Tesla Hesitant, VinFast Moves Ahead

    Whereas VinFast speeds up its operations in India, Tesla proceeds with caution. The Elon Musk-led electric vehicle (EV) giant continues to see India as an attractive opportunity but finds that steep duties make the market less accessible. Tesla’s chief financial officer, Vaibhav Taneja, recently underscored the point that the company continues to weigh the right time for an Indian debut. Till the time India doesn’t revise its policy of taxing imported vehicles, a full push by Tesla can’t be called certain.

    Determined to establish itself in the emergent Asian car markets, VinFast is trying to gain a foothold there, even though it is not yet profitable. With operations in Indonesia on the verge of starting in October, the company looks to start dominating the regional markets while its American rival plays the waiting game for more favorable conditions.

  • Sarvam AI to Receive First IndiaAI Mission Grant Worth INR 220 Crore

    Sarvam AI, a AI startup based in Bengaluru and founded by Vivek Raghavan and Pratyush Kumar, is progressing toward being the first beneficiary of the IndiaAI Mission. This mission is the flagship initiative from the Indian government to aid and boost the development of AI that is made and owned in India. As per several industry insiders, Sarvam AI is expected to receive support to the tune of about INR 220 crore. This support is expected to come mostly in the form of having nearly 4,000 top-tier Nvidia H100 GPUs available free of cost for a period of six months. These GPUs are among the best available for training AI models.

    Indigenous Models for Indian Voices

    Sarvam has already advanced in this area, having founded a language model with 2 billion parameters last year. This model, when put to the test in the context of Indian languages, was found to yield results that outperformed those of several globally recognized language models. Sarvam’s model used tokenization techniques that were lauded for their efficiency and precision, enabling the generation of prompt regional language responses with far greater ease than had been the case up to that point.

    Sarvam in the process of scaling up both his infrastructure and the model itself. The AI company is working on a new version of its language model that will come equipped with 70 billion parameters and will be capable of functioning in both Indian languages and English.

    Government’s Grand AI Vision

    The Mission IndiaAI, with support exceeding INR 10,000 crore, has been conceived to set in motion the domestic innovation ecosystem in artificial intelligence. Its primary focus, stated quite clearly, is on three components: on the one hand, it wants to create the very necessary IndiaAI compute capacity; on the other hand, it aims to establish an IndiaAI Innovation Centre; and, finally, the datasets required for AI in India, which are currently lacking, should be made available through the IndiaAI Datasets Platform. The agencies that set up this mission seem to have realized that AI requires large-scale computing facilities and have set about trying to create one.

    Competition and Collaboration in the AI Arena

    Alongside Sarvam, other startups like Soket AI Labs, Gnani.ai, and Gan.ai are also in the fray. Soket AI Labs has proposed a massive 120-billion parameter open-source Indic LLM under the EKA Project, while Gnani.ai is focused on conversational AI, aiming to develop speech-to-speech models for customer service. Gan.ai, known for AI-powered video personalization, has also submitted its proposal. The urgency to support such projects has been amplified by rapid advancements in countries like China, whose DeepSeek model spurred India’s resolve to build its own foundational AI technologies.

    Currently, India is advancing large-scale language models, and it aims to have several of them ready by year-end. Hence, the timeline fits well with the government’s ambition to have a more significant presence in the global artificial intelligence race.

  • Gensol’s Puneet Singh Jaggi Detained in FEMA Probe Over Alleged Fund Diversion

    Anmol and Puneet Singh Jaggi, promoters of Gensol Engineering Ltd, are now facing severe legal repercussions and conditions following their detention under the Foreign Exchange Management Act (FEMA). The Enforcement Directorate rounded up Puneet Singh Jaggi in Delhi while also conducting raids across Delhi, Gurugram, and Ahmedabad. This probe was initiated off the back of a Securities and Exchange Board of India (Sebi) report that flagged several problems, including serious financial misconduct and the apparent misuse of company funds. Anmol Singh Jaggi is currently reported to be in Dubai, an alleged haven for fugitive Indian businessmen.

    Allegations of Misuse and Missing Funds

    Sebi’s preliminary findings allege that Gensol and the Jaggi brothers misappropriated funds. Gensol, as per Sebi, borrowed a total of about 1,000 crore (INR 977.75 crore) from public sector banks and institutions like the PFC and IREDA at cheap rates, using the money to procure not EVs but something else altogether. They say some of these funds might have made their way into the accounts of Gensol and Jaggi’s other companies and that this might be the reason for the discrepancies.

    Investigators discovered that a significant amount of money was funneled into Gensol or moved to companies associated with the Jaggi family. They also learned that these funds were being used for personal and family expenses. In short, a big chunk of the money that was supposed to be going to Gensol was instead being sent to pay for stuff like the Jaggi family’s daughter-actresses’ performances at charity events and for renovations of some celebrity that Jaggi maintains.

    Lavish Spending Raises Eyebrows

    The investigation is revealing the depth of personal enrichment using company resources. About INR 42.94 crore went through Anmol Singh Jaggi’s Capbridge Ventures to pay for a luxury apartment in the upscale DLF Camellias. That wasn’t enough to satisfy this alleged scheme’s appetite. Around INR 50 lakh was allegedly funneled to Ashneer Grover’s startup, Third Unicorn.

    The personal gratification and profit reflected in our findings is alarming. Anmol’s mother received over INR 6.2 crore and his wife nearly INR 3 crore in the transfers of bribery money. Puneet and Anmol lavished their families with a total of just over INR 5 crore. Spending at that level obviously meant inflating all sorts of costs, and the auditors found plenty of instances overvaluing everything from fancy golf clubs to travel in first class on MakeMyTrip.

    Impact on Investors and Corporate Governance

    The financial irregularities have had a direct impact on Gensol’s market performance. Since Sebi released its interim report, the stock has fallen more than 22 percent. The company’s promoters, according to regulators, have used Gensol as a personal financial tool and have always put their own interests ahead of those of shareholders.

    Sebi is now pursuing a forensic audit, and the ED is ramping up enforcement actions. The case marks a major setback for corporate governance in India’s renewable energy sector and serves as a cautionary tale for both investor trust and regulatory oversight.

  • Rapido Pilots Non-AC Cabs in Bengaluru to Cut Commuter Costs

    The Bengaluru-based ride-hailing startup Rapido has started to test a feature that allows users to book non-air-conditioned cabs at lower rates. Currently available in beta form, the feature gives users the choice of fare plans for two types of cars, one with an AC and one without. Despite this being a first for any ride-hailing app, Rapido appears to be doing so quietly and without much fanfare.

    The initiative emerges when numerous riders have been expressing their dissatisfaction online with drivers who won’t activate the AC, even though they’re charging more for trips. Rapido’s newest feature may provide a way to address both the complaints and the apparent service shortfalls they reflect by making the pricing of its rides align better with the kind of rides you’re getting.

    Addressing Driver Concerns Through Innovation

    In the month before last, drivers linked with the Telangana Gig and Platform Workers Union started a “No-AC” campaign in Hyderabad. They protested against the falling per-kilometer pay across the platforms Ola, Uber, and Rapido. The protest attempt highlighted the tension that’s always present between service expectations and the gig worker’s budget. Gig work is often said to be a means for working people to remain economically afloat. The reality is that many gig workers are laboring just to stay alive.

    Rapido could be tackling both sides of the issue with its new non-AC option. This helps drivers avoid the expense of burning fossil fuels to power air conditioning, and it helps the price-sensitive commuter by providing a more affordable option. Integrating driver concerns into platform features may set Rapido on a path toward more inclusive innovation in the gig economy.

    Aggressive Expansion Backed by Strong Metrics

    Founded in 2015, Rapido built its user base initially through bike taxis and auto-rickshaws and expanded into the cab segment in December 2023. It was on a rapid growth trajectory. In March 2025, the platform outpaced rivals Ola and Uber in app downloads.

    The company cut its FY24 losses to just over INR 370 crore, a reduction of 45 percent, while its operating revenue soared by 1.5 times to INR 648.1 crore.

    Future Plans Point to Broader Ambitions

    In keeping with its ambitious growth, Rapido is said to be looking to raise 250 crore rupees from Prosus to fund further expansion and other new initiatives. The company has said it plans to expand to 500 cities, has made proposals to set up a women-only “Pink” bike service in Karnataka, and has dropped hints about entering the food delivery sector in order to compete with much bigger players.

    Non-AC cabs refine what Rapido has to offer Indian riders, allow Rapido to better compete in India’s ride-hailing market, and make Rapido more relevant to a service that Indian riders can actually use.

  • PB Fintech’s Healthcare Arm to Raise INR 1,461 Cr in First Seed Round

    PolicyBazaar‘s parent company, PB Fintech, is making big moves into the healthcare sector. In fact, the firm has just announced that it’s set to make a whole suite of healthcare services available to Indians. It even has a new subsidiary to handle the job, PB Healthcare Services Pvt Ltd. The new arm is starting with a fresh round of funding, seed funding, to be precise, to the tune of INR 1,461.60 crore. That’s up 76% from an earlier, not-quite-as-finished-to-say-funding-story dropped back in March.

    This shift is the initial large influx of cash for the healthcare startup since its formation just 11 months ago. Although the operation has been secretive about its precise objectives, it has made clear that its endgame is a sort of uninterrupted experience for those it insures, similar to the preventive medical insurance experience one might have in the United States.

    Equity Dilution Reflects Strategic Shift

    Through the enlarged financing round, PB Fintech’s shareholding in the healthcare subsidiary will fall sharply from 100% to 32.14% on a fully diluted basis. This change also accommodates the creation of an employee stock option pool. In earlier remarks, CEO Yashish Dahiya made it clear that PB Fintech was not adopting a long-term ownership model in this initiative. Instead, the firm aims to be an incubator for the healthcare venture, so that it can evolve independently after PB Fintech steps back.

    Dahiya and other key stakeholders, including cofounder Alok Bansal and senior executives, are investing INR 132.75 crore to obtain a total of 6.61% equity in PB Healthcare. This commitment from key figures in the organization certainly seems to bode well for the long-term outlook of the venture.

    A Potential Game Changer by Year-End

    The company projects that PB Healthcare will start up by December 2025. If it works, the model might change the game for insurance-linked healthcare in India. Its targets, eliminating pre-authorization, ironing out the claim experience, add up to a user-friendly alternative for insurance-linked healthcare in India.

    Even so, expectations have been dampened somewhat by CEO Dahiya, who has indicated it may take at least four years to assess the actual impact of the business on the broader healthcare ecosystem.

    Skepticism from Analysts

    The optimism surrounding PB Fintech isn’t shared by everyone. Bernstein, a prominent brokerage firm, had previously expressed concerns about the company diversifying into healthcare. According to Bernstein, PB Fintech’s foray into such a heavily infrastructure-dependent sector is a departure from the asset-light model that had long defined it. Bernstein suggests that the move could have significant pros and cons.

    More insights should come when PB Fintech shares its Q4 FY25 numbers. Markets seem cautiously optimistic in the meantime, with the company’s stock closing just above where it had Standard & Poor’s global rating on it and just below where it had a Morgan Stanley global rating on it.