Walmart-owned Flipkart said it has enabled more than 90 percent of its sellers to resume business on the platform since April. The ecommerce major also noted that it has seen a 125 percent increase in new sellers signing up on the platform in comparison to its existing seller base for a period of April-June 2020.

Also ReadFlipkart adds Kannada, Tamil, and Telugu as new language interfaces

"The impact of the pandemic has urged businesses across the country to re-think their usual mode of operating, and identify newer ways to function. Local MSMEs across the nation have realised the true value of ecommerce that enables them to stay connected with millions of customers," Flipkart said in a statement.

"Since April 2020, Flipkart has enabled more than 90 percent of its sellers to resume business on the platform. Sellers on Flipkart are able to leverage the benefits of nationwide market access along with an efficient, transparent, and truly democratic functioning of their marketplace business," it said.

Uttar Pradesh, Maharashtra, West Bengal, Delhi, and Tamil Nadu were the top states where local micro, small and medium enterprises (MSMEs) have shown maximum interest in taking their businesses online.

These sellers operate in various categories, ranging from women's clothing, personal care, food and nutrition, home improvement tools, and baby-care products, it added.

To help MSMEs and sellers through this pandemic, Flipkart had introduced a health insurance plan specific to COVID-19 to cover the sellers along with their families and employees at a special rate with a coverage, ranging between Rs 50,000 and Rs 3 lakh per individual with annual premiums starting at Rs 369.

It also ran a special offer on loans through Flipkart's Growth Capital programme to address the sellers' need for working capital.

"As a homegrown platform, Flipkart has a huge emphasis on enabling the local MSME industry of the country by making them more digital and transforming their business journey. By allowing MSMEs, artisans, and smaller traders in India to bring greater efficiencies in their operations with a strong market reach, ecommerce is further empowering these businesses to generate livelihood opportunities," Flipkart said.

(Edited by Suman Singh)

Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.

Original Source: yourstory.com

Russell Boyce/Reuters

The Department of Education has not renewed contracts with student loan servicer Great Lakes and Nelnet, with plans to change the way student loans are serviced and repaid. 
The Department of Education wants to change to a model where loans are paid directly through studentaid.gov for more consistency and accountability. 
If the Department of Education doesn’t change plans, 12.3 million Great Lakes and Nelnet customers will have their loans changed to another servicer in December.
In the meantime, borrowers should continue making regular payments to their current servicer.
Sign up for Personal Finance Insider’s email newsletter here »

As of December 2020, Great Lakes and parent company Nelnet will no longer service federal student loans. 

According to a press release by the Department of Education released July 24, the two companies haven’t made the list of the five companies with contracts to service federal student loans. The release states that five companies — EdFinancial Services, F.H. Cann & Associates, Maximus, MOHELA, and Trellis Company — will hold contracts from the Department of Education. See the rest of the story at Business Insider

See Also:

‘Let’s just see what happens’: Suze Orman advises Americans hold off buying homes during the pandemicIf our kids ever get our life insurance money, I hope they’ll spend it in 2 ways: on debt and index fundsIf your company has stopped matching 401(k) contributions, you can still save for retirement — you just might want to change how you do it

Original Source: feedproxy.google.com