Blinkit Expands, Foxconn’s Housing Project, Zepto Faces Turbulence

Bengaluru police cracked a ₹12.5 Cr fraud targeting fintech unicorn CRED, while Blinkit expanded its quick-commerce reach to Jammu. On the manufacturing front, Foxconn wrapped up a $230 Mn housing project for workers in Tamil Nadu, spotlighting welfare. Meanwhile, Zepto faced turbulence with another top-level exit, and Ola Electric saw a 5% dip in shares following senior resignations.

Grab your simmering cup of StartupChai.in and unwind with our hand-brewed memes.

“Aali Re Aali Bengaluru Police Aali”: Four arrested for siphoning off ₹12.5 Cr from CRED, Bengaluru police uncovers major crime

CRED’s coffers just faced a major breach—an Axis Bank manager and three accomplices in Gujarat allegedly siphoned off INR 12.5 Cr with forged board resolutions and seals.

The fraudsters executed 37 transactions in under a month, laundering the loot via mule accounts. The Bengaluru police have cracked down, but this fintech fraud feels straight out of a heist movie.

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“Sabko Milega Aashiyana”: Foxconn Completes $230 Mn Housing Project For Workers In TN

Foxconn’s $230-million dormitory project in Tamil Nadu is now complete, offering housing for 18,000 workers, mostly women, in Sriperumbudur.

This follows a government-led housing initiative for its women employees, reflecting a focus on worker welfare. With an audit underway, it marks a significant step in supporting India’s manufacturing backbone.

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“Hum Honge Kamiyab”: Blinkit Extends Services To Jammu

Blinkit has quietly marked its entry into Jammu, signaling Zomato’s focus on Tier II cities for quick commerce growth.

CEO Albinder Dhindsa announced that three stores are now operational, serving nearby areas. This measured expansion reflects Blinkit’s strategic push beyond metro markets.

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“Jaa Rahe Ho Jaane Jaana”: Zepto sees second top-level exit as VP of Central Operations Jitendra Bagga resigns

Zepto’s rapid expansion faces a hurdle as Jitendra Bagga, VP of central operations, steps down, marking the second top-level exit in recent months.

Bagga oversaw critical warehousing projects, including mother hubs and line hauls. With leadership shakeups amidst growth, Zepto’s next moves will be closely watched.

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“Hum Toh Dube Sanam, Tumhe Bhi Le Dubenge”: Ola Shares Tumble 5% Post High-Level Exits

Ola Electric shares dipped nearly 5% after the exit of two senior executives, CMO Anshul Khandelwal and CTO Suvonil Chatterjee, citing personal reasons.

The market responded swiftly to the leadership shakeup, with shares trading at ₹85.93 on the BSE. As Ola navigates these transitions, investor confidence remains a focal point.

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