COLLECTION AGENTS
Journey through 11 countries, Rs 35 lakh to agents: How Haryana man reached US, only to be deported
Pankaj Rawat from Haryana, after paying Rs 35 lakh to agents, went through 11 countries over six months aiming to reach the USA via the 'dunki' route. Despite reaching the US, he was detained and deported. He accused the agents of human trafficking and cheating, and an investigation has been launched by the Gujarat police.
Tesla stock takes a 'charge' downward: Is Elon Musk's EV dream over?
Tesla's stock dropped nearly 45% in three months, but its market valuation remains high because investors believe in its future autonomous vehicle technology. Despite falling sales and profits, Tesla still holds a market cap of $845 billion, indicating strong investor faith in its potential for innovations like robotaxis and humanoid robots.
What is a tariff, who pays it and why does Trump favour it? A complete guide
Tariffs explained: Donald Trump has imposed new tariffs on imports from Mexico and Canada, and has doubled the levy recently put on Chinese goods. Tariffs are typically charged as a percentage of the price a buyer pays a foreign seller. In the United States, tariffs are collected by Customs and Border Protection agents at 328 ports of entry across the country.
RBI may make it tougher for you to get gold loans from banks
Gold Loans: India's central bank plans to enforce stricter underwriting processes for gold loans, ensuring ethical business practices and financial stability. This includes enhanced background checks on borrowers and monitoring the end-use of funds to prevent irregularities found in recent audits.
Second cohort of startups rush to meet AI model plan deadline
Several Indian startups, researchers, and academics are preparing proposals to build India’s foundation AI model under the IndiaAI Mission by March 15. The first batch of applicants awaits evaluation, while new proposals continue to be accepted monthly.
Kissht founders launch debt resolution startup Rezolv, raise $3.5 million from 3one4 Capital
Rezolv said that it aims to simplify debt collections by centralising data and optimising workflows while leveraging AI-driven analytics to improve recovery rates. The platform also helps lenders enhance collection decision-making through a strategy builder that enables the creation of micro-strategies.
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Understanding Tariffs: Here's what they are and how they work
Tariffs are taxes on imports, typically paid by importers and passed on to consumers. While intended to protect domestic industries and can serve as political leverage, tariffs often raise costs, provoke retaliatory measures, and may not achieve the intended economic benefits. Trump's tariffs created mixed economic impacts but shaped political support in key regions.
Jio, Nokia, AMD & Cisco launch AI platform
Jio Platforms, along with Nokia, AMD, and Cisco, announced an open AI platform aimed at enhancing telecommunications efficiency, security, and capabilities. The platform will integrate AI and automation across network operations, offering real-world AI-driven solutions to optimize telecom services and introduce new revenue opportunities.
Layoffs at Ola Electric; ED notice hits Paytm stock
Ola Electric has implemented significant job cuts amidst ongoing challenges. This and more in today’s ETtech Top 5.
As unsecured loans surge, so does demand for collection agents
Demand for loan collection agents has surged by over 30% in the past six months due to rising unsecured retail advances. TeamLease has recruited around 7,000 new agents for various financial institutions, with a focus on enhancing recovery efforts and integrating technology to improve collection rates.
Kiwis fall to Varun Chakravarthy: India stay unbeaten, set for semis vs Australia
India's Varun Chakravarty took 5 wickets for 42 runs, propelling the team to victory over New Zealand and securing a semifinal match against Australia in the tournament. Despite early setbacks, India's lower order and efficient bowling ensured a strong defense of their score. The unbeaten streak continues, emphasizing teamwork and strategic play.
Severe cash shortages in Syria: How new government policies are making Ramadan celebrations impossible
Ramadan brings added hardship for Syrians as strict withdrawal limits and subsidy cuts shrink their purchasing power. With daily cash withdrawals capped at just $15, many struggle to afford even basic necessities. New government policies have deepened the economic crisis, leaving countless families unable to celebrate the holy month as they once did.
Are your Idlis safe? Karnataka Govt cracks down on food contamination
Idlis, a staple of South Indian cuisine, are under scrutiny after the Karnataka Food Safety Department found carcinogenic substances in samples collected from Bengaluru eateries. Investigations reveal that vendors using plastic sheets for steaming idlis are exposing consumers to harmful chemicals. The government is cracking down on the practice, imposing fines and considering a ban. With a history of food safety violations, this latest concern raises urgent questions about food hygiene and public health risks.
WhatsApp becomes the preferred platform for digital loan recovery
Industry insiders said that with WhatsApp becoming the popular mode of communication, debt collection startups like Credgenics, Spocto and others are increasingly using the platform as a reliable communication channel with their borrowers.
Lenders brace for a midsummer's nightmare as IMD flags heatwaves
With the IMD issuing heatwave warnings, lenders in India are bracing for challenges. They anticipate a decline in collection efficiency and loan disbursals due to less active sales teams. To mitigate this, they are adopting digital collections and tightening underwriting standards for heavily impacted industries. Last year, extreme temperatures caused big drops in loan collections, especially in North India.
Trump’s Gold scheme; Uber’s new India offering
Happy Thursday! Donald Trump’s new ‘gold’ path to citizenship may undermine the plans of wealthy Indians. This and more in today’s ETtech Morning Dispatch.
State-backed North Korean cyber thieves pull off largest crypto heist in history, steal $ 1.5 billion worth assets
North Korean hackers carried out the largest cryptocurrency heist in history, stealing $1.5 billion from the Dubai-based exchange Bybit. The cyberattack, allegedly carried out by the notorious Lazarus Group, demonstrates Pyongyang's increasing reliance on cybercrime to fund its regime and military programs.
SaaS startup Bridgetown Research raises $19 million in funding round led by Lightspeed and Accel
Bridgetown Research, a Seattle-based SaaS startup, raised $19 million from Lightspeed and Accel to enhance AI-driven business analysis. It provides rapid, cost-effective strategic insights, competing with consulting firms and report generators, primarily serving US and UK clients.
Gold grifting scam rises in the US: How fraudsters are exploiting victims including a Vietnam veteran who lost $80,000
Gold grifting is a scam where fraudsters deceive people into handing over their gold through impersonation, fake documentation or psychological manipulation. With gold prices at record highs, cases have risen in the US. The FBI states that people lost nearly $126 million in 2024, highlighting the need for awareness and vigilance.
ED secures court order to restore over Rs 3,300 crore assets to ponzi victims
The Enforcement Directorate has completed the restitution of assets worth Rs 3,339 crore to victims of the Agri Gold ponzi scheme. The assets include over 2,300 parcels of land and properties, which have been attached and their current market value is estimated to exceed Rs 6,000 crore.
India should just fine-tune the AI models that exist: Groq CEO Jonathan Ross
Jonathan Ross, co-founder and CEO of Groq, told ET in an interview that India should focus on developing AI applications and improving existing models instead of heavily investing in foundational models and AI chips. Groq is a Silicon Valley-based AI chip startup that competes with Nvidia.
Trump crackdown on illegal immigrants: More than 600,000 unaccompanied migrant children at risk of deportation
The Trump administration has directed immigration agents to locate and potentially deport hundreds of thousands of unaccompanied migrant children. This initiative, outlined in an ICE memo, targets children who entered the U.S. without parents since 2019 and prioritizes those deemed flight risks or involved in security concerns.
Trump purge: In the middle of season as millions file taxes, IRS fires 6,700 employees, mainly auditors dealing with tax compliance issues, and faces massive backlash
IRS has laid off 6,700 employees, with over 5,000 auditors and collection staff let go. This decision, coming in the middle of the tax season, has sparked intense backlash. While the White House cites "efficiency" as the reason, critics argue that it weakens tax compliance. Many claim it benefits the wealthy by reducing enforcement. With millions filing taxes, the timing has raised serious concerns. Lawmakers and tax professionals warn of refund delays and audit gaps.
ED attaches commercial assets in Dubai in Bitcoin investments fraud case
The Enforcement Directorate has attached assets worth over Rs 10 crore, including Dubai properties, in a money laundering probe related to an 'illegal' Bitcoin investment fraud case involving late Amit Bhardwaj. Earlier, assets worth Rs 172 crore were attached, and three arrests made. Key accused remain absconding, and foreign assistance has been sought.
Protests held, bills submitted in J&K assembly demanding alcohol ban in J&K
Demand for a ban on liquor sales and making Jammu and Kashmir a dry state is growing, as several legislators submitted private member bills in support. Protests have erupted in Jammu, driven by concerns over the negative impact on youth and increasing crime rates.
ETtech Explainer: Meet AI ‘Saba’ trained on Arabic, Tamil, Malayalam
Indian startups developing Indic AI models face competition from global players like Mistral AI, which launched a multilingual model trained in Arabic, Tamil, and Malayalam. However, regional nuances remain a challenge for these global competitors.
Best Body Washes for Hydration, Freshness, and Long-Lasting Fragrance
Discover the best body washes for every skin type, from hydrating to deep-cleansing options. This guide offers recommendations for dry, sensitive, and oily skin, alongside top picks for men and women. Highlighting moisturizing, natural, and luxury body washes, the article helps you elevate your daily shower routine with expert-selected products.
ED seizes Rs 170-cr worth bank deposits in probe against 'fraud' forex trading platform
The Enforcement Directorate has frozen Rs 170 crore in bank deposits after raiding various locations linked to an alleged fraudulent forex trading scheme by QFX Trade Ltd. Multiple FIRs and shell companies were found, highlighting a multi-level marketing scam promising high returns. Cash worth Rs 90 lakh was also seized.
Karnataka governor clears ordinance to curb coercive micro-loan recoveries
Governor Thaawarchand Gehlot approved the Karnataka Micro Loan and Small Loan (Prevention of Coercive Actions) Ordinance, 2025. The ordinance aims to curb unlawful and coercive loan recovery tactics by micro-finance institutions, with hefty fines and jail terms for offenders. Micro-finance firms must register and maintain transparency in their interest rates.
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