Govt tightens notes exchange norms, lowers limit to Rs 2,000

Mangaluru, Jun 3: A banner that read "Veer Savarkar Flyover Pumpwell" surfaced on the sidewall of the Pumpwell flyover in Mangaluru on Tuesday night.

It is suspected that activists of Bajrang Dal put up the controversial banner. Though it was removed later, it sparked debates on social media and photos of it went viral.

The development comes amid the controversy over the naming of a flyover at Yelahanka in Bengaluru after Savarkar.

A Hindutva ideologue, Savarkar has tendered apology to British imperialists and pledged to support them following his arrest during India’s freedom movement.

Bengaluru, Mar 24: Underlining the seriousness of the coronavirus, which is spreading like wildfire in Karnataka, renowned Heart Surgeon and founder of Narayana Hrudayalaya Dr Devi Shetty on Tuesday predicted that Karnataka alone will have more than 80,000 people affected with the dreaded killer disease COVID-19 if people fail to protect themselves.

He urged the people to cooperate with the Government in preventing its further spread and immediately treat those who are affected.

Dr Shetty, urging the people to remain indoors and not to venture out, said those who are affected should not come out and remain in isolation even in their houses and take all precautions advised by doctors.

He said if 80,000 people in the state were affected, more than 20,000 need to be admitted to Hospital for treatment.

"More than 2000 affected need to be kept under ventilation and it requires more infrastructure in the hospitals," he said.

Bengaluru, Jan 15: The Indian startups secured 12.7 billion in funding last year -- a 15% growth compared to 2018 - and Bengaluru startup community topped the list, with securing $5.3 billion across 267 deals, a new report said on Tuesday.

In total, the Indian startups attracted 766 deals in 2019, taking total deal count between 2014-2019 to 5,011, said DataLabs by Inc42 in its annual startup funding report.

Sequoia took the top spot as the most active VC in 2019 with 53 deals, followed by Accel that participated in 38 deals. Blume Ventures, Matrix Partners and Tiger Global were in the top five VCs in 2019.

"The Indian startup economy is entering new decade with over $58 billion in fundraising and 2,984 funded startups between 2014-2019," the findings showed.

With an average of $21 million, the ticket size value of funding increased by 15% in 2019.

Ecommerce and fintech -- with $2.6 billion funding each -- took the top slot with 93 deals and 125 deals, respectively.

"Ecommerce continued to remain at the top by the end of 2019. The growing investor confidence towards sub-sectors such as vertical ecommerce, social commerce and private label businesses is one major factor for ecommerce maintaining its lead," a DataLabs spokesperson said in a statement.

According to the estimates, the funding amount and deal count in 2020 will be around $12.6 billion at a 1% decline from 2019.

"Nevertheless, the investment activity is expected to rise in 2021," said the report.

The data suggests that 2019 had lowest number of startups funded (664) in the last five years, with seed-stage funding deals dropping by 53%, compared to 2016.

With $252 million in funding, seed-stage deal value fell by 44% (compared to 2018) as only 306 seed funding deals were recorded, the report said.

The enterprise tech had a blockbuster year with total funding of $1.15 billion across 114 deals in 2019. The sector recorded a 49% surge in total funding amount, compared to 2018.

The Indian startup economy saw 275 unique VCs participating in funding in 2019, said the report.