Aerwins, which also sells drones and related technology, says its hoverbike can fly for up to 40 minutes and up to 100 kph (62 mph). It has pitched the bike as a tool for rescue workers, infrastructure inspection and as a showpiece for public entertainment.

The Ministry of Electronics and Information Technology (MeitY) last week ordered blocking of 232 apps, based on an emergency request issued by a nodal officer of the home ministry, against 138 betting and gambling websites and 94 loan apps that were engaging in illegal money laundering and posing a threat to financial security of the country.

The dating company joins Big Tech firms and Wall Street titans in reducing staff as they strive to cut costs amid concerns of a recession. 

The new law, once passed by parliament would regulate mergers and acquisitions.