May 23, 2016 - Mobile wallet companies Paytm, MobiKwik and Oxigen diversifying to combat UPI threat

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Sree Vijaykumar From the Editor's Desk Martin Couney displayed premature babies in incubators as entertainment, amongst Coney Island's various exhibits in the early 1900s. He charged visitors 25 cents each to view these "exhibits". The babies were dressed in clothes that were intentionally bigger and with bow-ties, which exaggerated the effect of them being tiny. Couney was shunned by the medical establishment, and condemned by many as a self-publicist and charlatan. Now, what if I told you he was an unlikely medical pioneer. He gave life to thousands of babies where hope was lost (In America, many doctors at the time held the view that premature babies were genetically inferior "weaklings" whose fate was a matter for God.). His incubators were state-of-the-art and his nurses well-paid. Keeping premature babies alive was hideously expensive, but he did not charge his patients a dime, as the public paid for it, through his exhibitions. Today Couney's legacy is being re-examined by doctors, and many of Couney's "babies" speak proudly in his defence. More on this story here Mobile wallet companies Paytm, MobiKwik and Oxigen diversifying to combat UPI threat PayUs global CEO Laurent le Moal recently said he believed that UPI will eradicate the need for mobile wallets, which requires consumers to store money. Indian banking, warts and all The week that was for India’s banking sector—from Punjab National Bank posting record losses to DN Ghosh’s book on bank nationalization Foreign investors including Warburg Pincus to cut stake in Au Financiers Warburg Pincus owns 25% stake in the company and is likely to reduce its stake to 21% while IFC stake will come down from 14% to 11.5%. We cleaned up books in a non-disruptive way: MK Jain, MD, Indian Bank Public sector lender Indian Bank has cleaned up its books and is now positioning itself as a retail bank, says managing director MK Jain. Infrastructure Leasing and Financial Services to wind up securities business IL&FS Broking Services is expected to shut by mid-July because it has not yet turned profitable as was expected by the management, said one of the people. Nalanda Capital to raise $620 million fund, take total corpus to $1.5 billion Nalanda will raise over $600 million for the new fund, which will take the corpus raised by the only public marketfocused investor to about $1.5 billion. How to rejig your portfolio when dollar’s gaining If the past is any guide, this could well be the time for them to increase exposure to technology, FMCG, pharma and auto stocks. Sumitomo likely to acquire 44% stake in Excel Crop Care There have been several rounds of talks between officials of Sumitomo Chemical and the Excel management, and indications are that the deal may be signed in June. IL FS to list wind energy assets as InvIT to raise Rs2,000 crore Infrastructure Leasing and Financial Services seeks to use the capital to fund existing expansion plans and as part of capital infusion in the company Five merchant bankers shortlisted to assist govt on NMDC 10% stake sale The shortlisted bankers will make a presentation before an inter-ministerial group on 3 June; the government holds 80% stake in NMDC India Post payments bank will be functional by March 17: Ravi Shankar Prasad India Post's payments bank will start functioning from March 2017 and serve as a wider platform to implement financial inclusion programmes. New bankruptcy law: Employees can seek attachment of promoters' assets Under the new law, employees can file an application for initiating resolution proceedings against a bankrupt company. HDFC Bank plans to open 500 branches this fiscal According to sources about 60 per cent of new branches would be coming up in semi-urban and rural areas and the remaining in urban areas Indian economy has macro stability: Rajan RCom, Aircel merger talks extended again by 30 days RCom, Aircel merger talks extended again by 30 days - Sources claimed that financial arrangements and due diligence of the deal have been completed. P-notes worry? Give me a break! They bring in just 10% of FII flow The new norms will not only ensure more transparency but will also gradually make the product irrelevant and less attractive with time. Indian Overseas Bank to issue over 9 crore equity shares Indian Overseas Bank will issue over 9 crore equity shares to qualified institutional buyers to raise about `261 crore Air India chief blames merger, lack of leadership for its woes The merger of the erstwhile Indian Airlines and Air India (AI) is responsible for all the “ills” plaguing the state-owned carrier, which now has a bureaucracy bigger than even the Indian Railways, CMD Ashwani Lohani said in a blogpost. Raghuram Rajan wants RBI to be allowed to take its own decisions Mr Rajan visited Kalinga Institute of Social Sciences and discussed with its officials regarding the financial model of the school and its management. This OPEC member is the next big wild card for oil The two biggest headline-grabbing events have been the Canadian wildfires and the various attacks on energy infrastructure by the Niger Delta Avengers. SBI associates' merger will not see any job cuts: RBI Deputy Governor SBI associates' merger will not see any job cuts: RBI Deputy Governor - S S Mundra, however said that bank consolidation should wait till the ongoing balance sheet clean up is done so that merged can get a fair valuation. Staff stir disrupts banking transactions Associate banks have informed customers about operation to be hit due to strike by State Sector Bank Employees Association, an associate of AIBEA. Logistics companies rally on GST passage hopes The delivery volumes in these stocks were lower than the average delivery volumes of 21% to 53% during the last six months. Office hour is rush hour at online shops: Sokrati study Sokrati study took into account over 2 million transactions across 100 online retailers for the key pointers, reports Payal Ganguly. Kumar Mangalam Birla and family plan to invest Rs 500 crore in group's food and grocery business “The issuance and allotment for shares up to Rs 500 crore will be in one or more tranches within a period of twelve months,” the filing said. Retail chains opt for loyalty points on Patanjali items Ramdev had been opposing discounts on the products Retailers prefer new outlets in high street over shopping malls “Customers prefer the high street as it is easy to get in and get out whereas, in a shopping mall, you have to allot fixed time for shopping. Parking is a time-consuming affair. If the shop is not loc American footwear major Skechers to double store count in India The company entered India in 2012 through a JV with Kishore Biyani-led Future Group and now has presence across 700 multi-brand outlets in the country. Swedish fashion retailer H&M wants to improve labour conditions at India factories - Hennes & Mauritz (H&M) decided to take the initiative after a study found labour rights' violations in supply garment factories in India and Cambodia. As summer peaks, cold drink war intensifies It is that time of the year that spells more advertising from cooling powders, air conditioners, refrigerators and, of course, cold drinks. And, as every summer, this year, too, beverage giants in the country are competing for the consumers’ share of wallet. Ikea announces land purchase for Navi Mumbai's store The 23 acre land will see a 4,00,000 sq. ft store IFC to invest Rs 134 crore in Biyani's Future Consumer Joins global investors such as Proterrra, Verlinvest Make in India, PM may tell Cook Getting an assurance from the Apple CEO on manufacturing in India will mean much to the NDA government Flipkart's courier seeks to monetise logistics investments, build data for e-commerce Ekart goes live next week, with cross country delivery in 4 days; by June, it will service 3,800 pin codes, enable pickups in 8 cities More Indians Are Now Buying Smartphones Online: Study A city-wise break-up for mobile transactions showed that 75 percent online shoppers in Kolkata are open to mobile transactions followed by Chennai. Inspect tea processing units: FSSAI to state officials The regulator has recently conducted a large-scale laboratory analysis of tea powder for determining the limit on iron filling. Ready with Cover Story, Biyani takes high street to chase H&M, Zara - While the brand was recently soft-launched earlier this month at a select few Central stores in a shop-in-shop format, the company is now taking the EBO route and will throw open the first Cover Story store for customers at Infinity Mall, Malad. That's not all, the company will follow it up with a second store in Delhi thereafter. Logistics firm Rivigo to treble truck fleet to 3000 unit, banks on driver relay system One of the largest company in the logistics industry, driver relay system proven to be good,Chennai to Delhi deliveries in two days unlike eight conventional days. How startup YELDI is making cashless transfers smoother, faster YELDI, a Chennai-based startup has been working on near-field communication (NFC) technology as a medium for transactions. Mobile wallet companies Paytm, MobiKwik and Oxigen diversifying to combat UPI threat PayUs global CEO Laurent le Moal recently said he believed that UPI will eradicate the need for mobile wallets, which requires consumers to store money. Telecom operators should sell stakes to raise funds: Telecom Secretary JS Deepak It has recommended a block size of 5 MHz for the auction, pegging pan-India airwaves for a bidder at a starting price of Rs 57,425 crore. Apple's Tim Cook Maps His Vision for India in Meeting With Modi Apple’s Tim Cook outlined his vision for his company in India in a meeting with Prime Minister Narendra Modi. Ravi Shankar Prasad lauds Apple CEO's India commitment Apple CEO Tim Cook met Prime Minister Narendra Modi today at his official residence 7 Race Course road. Microsoft's Surface phone: Rumour roundup ​It’s been quite some time now since we started hearing rumors about Microsoft working on their breakthrough device, which is none other than their premium Surface Phone smartphone. Microsoft’s Surface team has been playing along with the great idea of building this premium smartphone for months now. 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. Our mailing address is GF 25/39, West Patel Nagar, New Delhi 110008, India