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Wednesday, June 29, 2016

Jun 29, 2016 - The CASA pillars of public sector banks are shrinking

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
In his first year at Yahoo, during which advertising revenues declined in every quarter, Chief Operating Officer Mr De Castro made $39.2m, putting him behind only eight CEOs of listed American firms in the income charts. By his 14th month, Ms Mayer had decided to fire him without cause, triggering a severance payment worth almost $60m. Mr De Castro may not have impressed as a chief operating officer, but you must admire his negotiating skills. High executive pay is an issue that has employees to governments worried. Some in-depth analysis from The Economist on this trend here.

The CASA pillars of public sector banks are shrinking

CASA deposits are crucial to a banks health because they are the cheapest source of funds for banks. Banks with a high CASA ratio are considered stronger.

Government should sell stake in PSBs if it wants growth

The message, from the banking regulator, is clear — chip in with capital, or else banks will not live up to the expectations of New Delhi and India Inc.

Profit-making companies listed on defunct bourses see renewed interest

The recent listing of Aspinwall & Co, a Kochi-based logistics company on the NSE at Rs 175, has triggered interest in stocks of profit-making companies listed on defunct exchanges.

India Inc balance sheet improving: Financial Stability Report

"As global uncertainties and transiting geopolitical risks impact India, continuation of sound domestic policies and structural reforms remain the key for macroeconomic stability," Rajan said.

Bank of Baroda CEO PS Jayakumar's focus on differentiation, to make bank future-ready

Jayakumar is the first thoroughbred private banker to head a state-run bank as the government experiments with private sector talent to revive ailing state-owned banks.

Long-dated debt funds get a leg up from Brexit

Experts feel these long-dated mutual fund schemes will continue to generate good returns in short to medium term, mostly due to actions by global central bankers.

No takers for unofficially traded shares of IPO-bound companies

In the grey market, shares are traded ahead of their listing and punters settle trades by delivering shares when the company lists on bourses.

Opportunity for India to emerge as major global financial market after Brexit: Mark Mobius

There will be an impact on emerging markets and some of the Indian companies that have significant exposure to the United Kingdom may get affected, says Mobius.

Bad loans take toll on financial system, banks fail to tick right boxes in RBI's stress test

This details the results of stress tests based on various scenarios and is part of the requirements under the global Basel recommendations on capital and the risks faced by banks.

SBI to divest non-core assets to rake in Rs3,000 crore

SBI chief Arundhati Bhattacharya says asset quality pressures accelerated during 2015-16 due to continued stress in the economy, declining commodity prices and two successive drought years

Indian banks must share digital dividend

Everything depends on some form of technology, including your banks and financial institutions. And this dependence on technology is changing the way we conduct our banking transactions.   Our actions are increasingly complemented by computing and technology. Almost everything

Velvetcase raises $1.5-2 million from Uniqorn Ventures Fund and others

Velvetcase aims to use the funds for marketing initiatives, strengthening technology and developing solutions that are seller-centric

Trent plans to raise up to Rs300 crore via NCDs

The board of directors has approved the sub-division of equity shares of Trent having a face value of `10 per share into equity shares having a face value of `1 each

Motilal Oswal Financial to raise Rs1,000 crore

Motilal Oswal says approval of members, by way of special resolution, is being sought to issue Non-Convertible Debentures (NCDs) up to `1,000 crore

Axis Bank forays into urban microfinance segment

The lender plans to commence urban microfinance operations in 85 branches across Bengaluru, Chennai, Kolkata and Mumbai, in addition to Pune.

JSW Steel seeks to raise up to $2 billion via foreign currency bonds

JSW Steel will also seek a nod to raise up to Rs4,000 crore through equity shares and debentures through a QIP issue

Alipay owner said to finish record $4.5 billion equity fund-raising round

Ant Financial, as the company is known, had aimed for at least $3.5 billion at a valuation of $60 billion and is considering an IPO on the Shanghai stock exchange

Religare Finvest acquires 24.49% stake in ABG Shipyard

The acquisition will, under the rules, now trigger an open offer to ABG Shipyard’s public shareholders

OCL India to merge Dalmia Cement East with itself

Launching a premium cement brand Amandeep said that OCL's market share in West Bengal is 15-16 per cent, making it the second-biggest player in the state.

Lendingkart raises $32 million in Series B funding round

Lendingkart will use the funds to improve its data science capabilities, enhance its technology solutions, and build a better infrastructure for mobile capabilities

SBI to soon send detailed merger plan for govt approval

Earlier, Cabinet gave in-principle approval to merger of the five associate banks and Bhartiya Mahila Bank with the State Bank of India.

United Bank of India to focus on MSMEs, plans to raise funds via QIP

The bank is planning to raise up to Rs 1000 crore in one or more tranches through qualified institutional placement for which it sought shareholders' approval.

Consolidation in Indian banking sector risky: Moody's

The multiple downside risks in the proposed consolidation in the Indian public sector banking (PSB) space far outweighs the potential benefits, said global credit rating agency Moody's Investors Sevice.

Lenskart to offer home visits by eye specialists

The company is piloting a project in Delhi where consumers can not only see the nearest available refractionist but also order services using the app and track their movement.

'Direct selling market in Delhi to reach Rs 15-20 billion by 2025'

The FICCI-KPMG India report said that the direct selling industry in India is currently reckoned at Rs 75 billion, recording double digit growth of more than 16 per cent over the past four years.

V-Mart to set up 2nd fashion store in J&K soon

"V-Mart is opening up a complete family fashion store in Udhampur district soon. It will be second such store in Jammu and Kashmir."

E-commerce fuels Adobe India's growth story

On the horizontal growth opportunities mobile and video are also huge areas for Adobe and Bawa feels there is no better place to test the waters than India.

Coming soon: Pizzas and burgers on trains

Train passengers will soon be able to order burgers and pizzas of their choice on the Railways website and have them delivered right to their coaches.

China makes rules stricter for mobile app developers

China has tightened rules for mobile app developers including requiring real-name registration and preserving users' activity logs, the country's internet regulator said on Tuesday, as Beijing looks to strengthen oversight of the growing app market.

What Happened to the Consultation on Licensing of WhatsApp-like Applications?

Sources believe that two recent developments will allow TRAI and the Department of Telecommunications to revisit and finish the regulatory process on licensing of over-the-top applications.

Tata Communications surges after Neotel sale to Liquid Telecom

The transaction, which will be worth South African Rand 6.55 billion, will create the largest pan-African broadband network

Mobile Wallets in India Threatened by E-Commerce, Social Apps: Norton Mobile Survey

Here’s a piece of good news. There are over 10.8 million apps in over 200 app

With 5G, Qualcomm wants to enhance mobile broadband

While bandwidths below 1GHz will be for long-range Internet of Things (IoT), those between 1GHz-3GHz will power enhanced mobile broadband and mission critical services. As for greater than 6GHz, these would have extreme bandwidths. It would be possible to deploy 5G networks both in terms of large geographical areas and local hotspots.

How Reliance Jio's LYF became India's third largest selling phone brand

Reliance launched the LYF brand of smartphones in tandem with their ambitious 4G startup, JIO, earlier this year. Yesterday, LYF introduced the newest member of the family, Earth 2, priced at ₹19,99

How Mobile Connect solves intrinsic security risks

The proliferation of smartphones and connected devices has led to a massive increase in the collection and analysis of personal data. In India, the GSMA estim..

Security of mobile wallets under threat by online shopping and social network: Norton report

There are over 1.08 crores apps in over 200 app stores to improve our productivity but one third of them come with malware. Read more on India TV News

Believe In Creating A Better Product Than A Brand says Rajani Verma Co-Founder, PureMart

The company also commits that it's not just a business entity rather collaborate with farmers and adhere to quality to bring happiness and a healthy life to your family., , PureMart, indian startups

AWS launches data centres in Mumbai to accelerate growth in India; to boost the amount of work AWS can do with banking and the healthcare sectors

AWS, as it is normally called, is now on track to being a $10 billion annual business this year. It has an operating margin of over 24 per cent.

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Monday, June 27, 2016

Jun 27, 2016 - Brexit Vs lehman collaspse

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
If you thought Indian politicians can be vengeful and vicious in bringing down their enemies, wait till you read how the Chinese communist party deals with its foes. The usual practice is to go after the individual, not his policies or agendas. Getting personal is not just ok, it is the main strategy. More in this article.

Brexit Vs lehman collaspse

Global financial markets reacted as violently to the Leave victory in Britain as they did to the Lehman Brothers collapse in 2008.

SBI’s Arundhati Bhattacharya may get 1-year extension

The government is considering a proposal to extend Arundhati Bhattacharyas term as chairman of State Bank of India by at least a year.

Fairfax Financial Holdings seeks RBI approval for 10% stake in Kerala's Catholic Syrian Bank

“The bank needs constant capital …we are talking to many investors including Fairfax,” said S Santhanakrishnan chairman, Catholic Syrian Bank.

Banks set to lobby RBI for liberal loan recast norms

To avoid another set of bad loan pile up, the central bank has said that banks could split the debt in to two for struggling companies – sustainable and unsustainable.

Rs 13,000 crore black money unearthed from overseas bank accounts

So far, the I-T department has filed 55 prosecution complaints before criminal courts in the ICIJ cases on charges of wilful attempt to evade tax.

NSE board finally approves listing of its shares

NSE — which had once resisted the idea of a listing — would simultaneously pursue a plan to list on a domestic as well as an international stock exchange.

IIFL looks to raise Rs750 crore realty debt fund

The IIFL fund will lend Rs80-100 crore each to selected builders in key property markets developing homes costing Rs35 lakh to Rs1 crore

Paytm to help Indian sellers source from China

Paytm’s cross-border plan will offer support of bonded warehouses in India and consolidation centres at the source countries

Make allocation to ELSS funds based on tax saving requirement

Analyse your tax-saving requirement as per section 80C of the Income-tax Act, 1961, and take a call on the allocation level

Mid-caps: is it a case of too much of a good thing?

In every market rally emerges an underlying theme where outperformance vis-a-vis the broad market is marked and at times spectacular

PE veteran Manish Kheterpal launches new $15 million early-stage fund

WaterBridge Ventures will primarily look to invest between Rs 75 lakh and Rs 3.5 crore in 12-15 ventures, and has a fund life cycle of 5-7 years, according to Kheterpal.

Bank of Baroda will sell non-core assets gradually: chairman Ravi Venkatesan

Bank of Baroda (BoB) intends to gradually exit unprofitable businesses and segments to improve margins and free up capital, says Ravi Venkatesan

Indian banking's 'weak underbelly' exposed: Kotak

New Delhi, Jun 26 () Warning of "more bad news" on the stressed loans front in the Indian banking sector, eminent banker Uday Kotak has said its "weak underbelly" has resurfaced strongly and the story is not over yet, though lenders have begun cleaning up their books.

SFIO seeks loan details from banks to Vijay Mallya-owned defunct Kingfisher Airlines

As a multi-disciplinary organisation, the SFIO probes cases of financial frauds that are referred to it by the Corporate Affairs Ministry.

Bank mergers likely to happen after SBI consolidation: Finance Ministry official

Consolidation among public sector banks (PSBs) is expected to happen only after the completion of merger between SBI and its associates, a senior finance ministry official said.

India needs $1.5 trillion for infrastructure: Arun Jaitley

AIIB announced its first set of four loans totalling to over USD 509 million for infrastructure projects in Pakistan, Bangladesh, Indonesia and Tajikistan.

Culturally, Rajan is more Indian than many of our liberals. My objections are about his policies: S Gurumurthy

The RSS ideologue says that Indian experts, whose learning curve has been abroad, should experience India for a period like Mahatma Gandhi did.

What's not so cool about India's start-ups

The new breed of companies may be hubs of fun and innovation, but rampant sexism shows old habits die hard

India's forex reserves adequate to tackle Brexit impact: RBI

The country's foreign exchange reserves and import cover of more than a year would be sufficient in managing the temporary effects of Brexit, a Reserve Bank official said today.

Seven companies in race to manage EPFO's equity investments in FY17

FAIC will open technical & financial bids submitted by seven firms for managing EPFO's market investments in the current fiscal," an official said.

When the world is jittery over Brexit, India has reasons to smile; here’s why

If you can afford to survive this knee-jerk response of the market with a little bit of patience, without fear and anxiety, better things are in store for you in future.

Sourcing norms tightened for entities with state of the art technology

Clearing the air on FDI in single brand retailing, the govt clarified that entities like Apple claiming to bring state-of-art and cutting-edge technology will only get a waiver from local sourcing norms for three years

Indian companies brace up to face new challenges ahead

Indias corporate investment in the UK and beyond into EU has emerged as a ‘Brexit worry, more than trade and investment investment.

RBI to ensure liquidity in market: Raghuram Rajan

The Reserve Bank of India will ensure that there is sufficient US dollar and rupee liquidity to ensure smooth functioning of the market

We are staying true to our $5-b investment plan: Coke's Venkatesh Kini

Coca-Cola India’s President says the potential of the Indian market is huge

Three McDonald's outlets in Jaipur found using 16-day-old oil

Hindustan Times
Three McDonald's outlets in Jaipur found using 16-day-old oilThe discovery has spurred department officials to check if popular fast food chains in the city adhere to prescribed food safety standards. "During an inspection drive on June 17, we were shocked to find that the oil being used by three McDonald's ...

How India is taking its first brave bites of gourmet chocolate

All Things uses only Belgian chocolate (the promoters say they are able to choose their chocolate and make adjustments while it is still being processed in Belgium).

Nippon Paints plans to get into retail business

The paint manufacturer has tied up with National Institute of Fashion Technology, Chennai to create design patterns using special effect paint

LeMall receives 1 lakh registrations for first flash sale in India

LeMall is the world's second largest smartphone market and its launch in India symbolises an important milestone in establishing LeEco's online footprint in the country.

How LogiNext is speeding up the growth path by solving logistics problems of over 200 companies

LogiNext provides solutions to third-party service providers, courier services and e-commerce logistics to track their shipments in real time

Move over Flipkart, Amazon: Second-hand e-bookstores are uniting bibliophiles

Hindustan Times
Bibliofreaks , another online second-hand bookstore, was launched in 2013. The owners, Ganesh Reddy Indireddy and Indireddy Siva Sankar Reddy from Hyderabad, say e-commerce giants like Amazon and Flipkart motivated them to start their business.

India accelerates to 4G

NEW DELHI: The Indian smartphone market is rapidly transitioning to 4G handsets even though it may be some time before the relevant network technology is available across the country.

Will Reliance Jio disrupt the market with 4G?

Reliance Jio’s plan to sign up 100 million users in one year before commercial launch suggests it is combining 4G data with low-to-mid range phones

A majority of Indians find mobile advertising most annoying

Sixty per cent of Gen X, Gen Y and millennials in India are annoyed with mobile advertising and mark the ads as annoying and obtrusive, according to a survey by VoIP (voice over internet protocol) app Nanu. Approximately 52 per cent of the 3,735

RCom to provide 4G services on RJio network

RCom to provide 4G services on RJio network - Of the 8 million RCom's CDMA customers, over 90% have opted for the offered upgrade to 4G services.

Start-up, telecom officials spar over cloud telephony service

“Our lines were disconnected without giving any notice to us,” said Ambarish Gupta, 38-year-old chief executive of Knowlarity.The start-up approached the Telecom Disputes Settlement and Appellate Trib

While India Gets Used to 4G Speeds; US Kicks Off 5G Plans

FCC begins process to get 5G Internet on track; hopes service providers will act fast.


AskMe minority stakeholders at war with its Malaysian owner Astro Holdings

"Despite best efforts of the board and management, AskMe, has been unable to meet its plans due to lack of scale, among other factors, said Astro.

Swarovski India collaborates with Myntra to launch e-commerce venture

Swarovski which is known world over for its sparkling crystalware is collaborating with Myntra, Indian retailer of fashion and lifestyle brands.

Shopclues expects to register more than two fold jump in GMV from its platform at USD 3 billion by the end of current financial year

Buying a premium Superphone is always a complex and sometimes vexing decision making process. From decision making to final purchase, a number of parameters

Technology companies welcome Trai’s cloud computing paper to bring out a clearly defined policy

"A strong technology infrastructure that harnesses the power of global technology innovations is crucial for Indias growth,” said a Microsoft India spokesperson.

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