Mar 11, 2016 - Govt, RBI move in step on banking sector clean-up

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Sree Vijaykumar From the Editor's Desk At a recent conference, when asked about disruptive business models, Uday Kotak was honest in admitting that he wakes up every day wondering what technology disruption would affect the banking sector. Few business leaders have woken up to the scale of technological change coming, as suggested by this study done by GE. Most old-industry CEOs are looking at incremental changes from using technology to improve productivity or cut costs. In the mean time, nimble startups in alternative energy, biomedical engineering, internet of things could upend incumbents (the Kodak effect). So how can large companies make sure they don't become obsolete? Incumbents have too much to lose, so they are unlikely to take the risks required to shake up their own industry. Also, bureaucracy and inertia slows decision-making. What they can do, is partner with tech upstarts through incubators/accelerators and startup forums, acquire good startups for both talent and technology and generally be open to new ideas both within and outside the firm. This sort of thinking starts at the top - Comment Govt, RBI move in step on banking sector clean-up The government and the RBI are both chipping in to ensure that a capital cushion is available to banks as they go through clean-up Crompton: succour from sale of ailing overseas business Crompton Greaves on Wednesday inked an agreement for the sale of its international power business for €115 million, which has brought a ray of hope for investors in the beleaguered firm Jindal Steel to form JVs in steel, sell power assets in India: CEO There have been delays in interest payment because of stress in the earnings from steel, says CEO Ravi Uppal India not immune to global volatility: IMF’s Christine Lagarde Weakened corporate, bank balance sheets are a significant risk to India’s growth, says the IMF chief in an interview Changing gears at India's start-ups The Morgan Stanley markdown is the strongest manifestation yet of the correction that is currently underway Rajya Sabha passes real estate bill The bill will govern both commercial and residential projects and set up state-level regulatory authorities Hydrocarbon policy: what’s in it for investors? The government announced a slew of measures in the hydrocarbon sector on Thursday that are expected to have a positive impact on the Indian energy sector in the long run Reliance Industries to pay Rs3,401 crore in interim dividends The payout, at Rs10.5 per share, was announced in a statement to exchanges after a board meeting Flipkart invests another Rs338 crore in Myntra Fresh funds come at a time when fashion store’s nearest rival, Rocket Internet-backed Jabong, is struggling Indian Railways Finance Corporation's tax-free bonds oversold four times higher than planned Indian Railways Finance Corporations tax-free bonds were oversold, almost four times higher than it had planned. With this, the issuer marked the seasons end. Weakening corporate, bank balance sheets undermine India's stability: Jose Vinals IMF financial counselor Vinals says, in terms of fundamentals, among emerging market economies, India stands strong Global PE funds shortlisted for GE stake in SBI Card The value of GE Capital’s stake in SBI Card is estimated at about $400 million The debt troubles of Jindal Steel and Power Jindal Steel and Power equity investors appear unperturbed by the company’s debt getting a default rating, if the share price is a reliable indicator Cement firms to gain from changes to MMDR Act Union cabinet clears proposal to amend the mines and minerals law to allow the transfer of captive mines granted through non-auction routes ED summons Kingfisher Airlines CFO, IDBI Bank officials The CBI is already probing the alleged collusion between the airlines and a few bank officials in defaulting the `950-crore bank loan Structural reforms to keep India an outperformer: Gunit Chadha, Deutsche Bank As the global financial markets face a turmoil, India cannot remain unaffected. But some structural reforms could help salvage Indias position, says Gunit Chadha. India’s corporate bond market puzzle Development of this market requires reforms in financial markets, public finance and regulatory governance Vijay Mallya has left India: Why is pro-poor RaGa mum? Why is govt hesitant? Why the politicians are largely silent on the Kingfisher issue? Are they under some oath not to speak? The desperate, late-fought battle of a clutch of 17 - Firstpost Flipkart sees opportunity in selling automobiles and accessories online Flipkart has started working with car and bike manufacturers like Mahindra & Mahindra, Kawasaki and TVS Motors. Digital wallet and ecommerce firm Paytm planning major offline push Over the last one year, Paytm has been experimenting with various models to pay offline such as QR codes, one-time password and even sound-based payment. Kishore Biyani led Future Group to bring out ads using word play to target rivals Flipkart, Amazon, Snapdeal Future has fired ad shots at ecommerce before. For instance, “You can't take the nation for granted even for a day,” was aimed at Flipkarts Big Billion Day sale in 2014. IGNOU signs MOU with Retailer Association of India 1st generic-drugs store a hit with consumers in Mumbai Hindustan Times Sandesh Paul, 40, a resident of Navi Mumbai, learnt about the chain of stores from this year's budget announcements. "I have has been buying medicines for my mother's diabetes and hypertension treatment for over a decade and the expenses are very ...articles  Lenovo ties up with Paytm to offer sops for distributors, sales, representatives Payments, which earlier used to take weeks, will now be instantaneous, a move that the company said will help attract more sales representatives to sell Lenovos tablets, laptops, desktop computers and servers to businesses. India is not our first priority for retail expansion: Versace's Gian Giacomo Ferraris Interview with Chief Executive Officer, Gianni Versace SPA Freedom 251: Make in India blitz or a farce? How can a phone which was bought for Rs 3600 be sold for Rs 251? Do the tall promises being made by Ringing Bells hold up? Or is the dream of the Rs 251 phone too good to be true? This is an India Today exclusive. 'Work from home' online fraud most prevalent in India The average financial loss per person is ₹8.2 lakh, says Telenor study Call drops in India much higher than global average: Survey A survey has found out that on average 4.73 per cent of calls get dropped in the country, much higher than the global average of three per cent.By the RedMango Analytics report, 59.1 per cent of dropped calls were due to poor quality and 36.9 per The future of mobile wallets in India Digital payment service providers are competing fiercely, offering attractive offers and unrealistic discounts. Is this the making of another bubble? Nielsen Acquires Mumbai-Based Informate Mobile Intelligence The acquisition comes after half a decade of both companies working together during which they were able to leverage innovative smartphone metering te.. Facebook India now has 142M users; over 90% users mobile savvy Social networking site Facebook now has more than 142 million Monthly Active Users (MAUs) users in India, out of which at least 133 million MAUs were accessing the site through mobile phones, the company informed MediaNama. Mint reported this initially. A total of 69 million users in India use F Telecom operators get a week more to submit report on call drops The COAI and Auspi had filed separate special leave petitions in the Supreme Court seeking a stay on the sector regulators directive until the matter is adjudicated. Hotels check out of Oyo, Zo after unhappy stay; More than 200 hotels end ties with leading aggregators Oyo Rooms and Zo in the last five-six months More than 200 hotels are estimated to have ended ties with leading aggregators Oyo Rooms and Zo in the last five-six months. BookMyShow acquires majority stake in Chennai-based fan relationship management (FRM) solutions provider, Fantain Sports knowstartup (press release) knowstartup (press release)It also has offices in New Delhi, Bangalore, Hyderabad, Chennai and Kolkata. ... About 60 percent of its transactions take place via its mobile app which, say experts, is the most successful mobile ecommerce app in the country. knowstartup-bookmyshow  Skype co-founder introduces a new version of its own messaging service that promises end-to-end encryption for all conversations, including by video The company said on Thursday it was adding video calling to a package of private communications services that go beyond existing messaging providers. How This Startup is Helping Stores Take Baby Steps into World of Online Retail "The future of the startup is 'data analytics' and we aim to be the Nielsen of India," says Mohanty. Mu Sigma founder Dhiraj Rajaram sued for 'misleading' early investor Walworth had pumped in $1.5 million into Mu Sigma in 2006. Rajaram bought back Walworths shares in the IT firm for $9.3 million in 2010. Samsung Electronics says Galaxy S7 preorders better than predecessor's Tech giant Samsung Electronics Co Ltd has seen stronger preorder volumes for the new Galaxy S7 phones compared to last year's model. Apple sets March 21 event, Wall Street sees new, smaller iPhone Apple sent an invite to reporters for an event at its Cupertino headquarters on March 21, possibly signaling the unveiling of a new, smaller iPhone. Infotech woes hit home loans he slowdown in the Information Technology (IT) industry, leading to uncertainty in career prospects for employees, is a major cause of the slump in the housing sector.“Confidence has to come back to t Lenovo ties up with Paytm to offer sops for distributors, sales representatives Payments, which earlier used to take weeks, will now be instantaneous, a move that the company said will help attract more sales representatives to sell Lenovos tablets, laptops, desktop computers and servers to businesses. TradeBriefs Publications are read by over 10,00,000 Industry Executives India Business Brief | India Retail News | India Food Brief | India Telecom Brief | India Finance Brief | India Software Brief | India Digital Brief | India Ecommerce Brief | India Franchise Brief | India HR Brief | India Logistics Brief | India Construction Brief About Us  |  Advertise Privacy Policy    Unsubscribe You are receiving this mail because of your subscription with TradeBriefs. 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