Jul 15, 2016 - Service quality of banks: RBI, regulators step in to ease customer woes

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Sree Vijaykumar From the Editor's Desk Because the internet has democratized distribution and production, our interests are more niche now. Beardbrand, a company that only offers "beard care products for the urban beardsman" likely couldn't have existed in a pre-internet world. This article argues that there are more markets now than anytime in history and on the whole, they are growing. Given that a growing market is the biggest determinant of startup success, you are more likely to be a successful entrepreneur now than every before. Even if you don't consider yourself an entrepreneur, there is an opportunity today to make a successful career by becoming the best in a market that you help create eg: Scott Adams, the creator of Dilbert, has created a monopoly by building on his strengths. He's tremendously productive (to the tune of $75 million), but the route to that productivity wasn't paved by traditional notions of boundedness around skills. Scott Adams didn't go to cartoon school. He worked for 15 years in a crappy company, so he understood corporate culture; he liked cartooning as a kid; and he had a flair for entrepreneurship as evidenced by a track record of failed businesses. Service quality of banks: RBI, regulators step in to ease customer woes With rising customer complaints, RBI is working on a series of steps to make banking easier for the masses. HDFC did it, at cheaper cost! Masala bonds resume journey The final yield is significantly lower than its initial guidance, which was at 8.45%, a move seen as benefiting the borrower in terms of cost of borrowing. Costs, bad loans rise at DCB Bank DCB Bank’s first quarter results have seen higher cost-to-income ratio and deterioration in asset quality How IndusInd is going strong in a tough season for banks The net interest margin (NIM) stood at 3.97% in Q1FY17, up 29 basis points year-on-year, inching closer to the banks aspirational 4%-mark. Goods and services tax: Will the govt be able to push it through? The National Democratic Alliance takes one final shot in its first term at enacting a goods and services tax that will dismantle inter-state barriers to trade and create a united market of 1.25 billion people Essar Oil in talks with overseas oil firms to sell 23.5% stake Essar Oil may sell 49% to OAO Rosneft, 23.5% to firms such as Glencore, Trafigura by end of July or early August Sebi likely to order forensic audit of brokers linked to NSEL scam Regulator will continue probe though an initial investigation into role of brokers did not find too many violations WorkApps secures Rs 6.7 crore funding from SRI capital The companys eponymous product aims to augment communication efforts for companies with its software, improve efficiency and change the way people collaborate. Government working on Rs 30000 crore corpus for venture capital funds in defence sector Foreign companies can invest up to 25% of their offset obligations in such funds. But the capital wont be repatriable, only dividends will be. JM Financial looking to raise $300 million distressed asset fund JM Financial, which already has an asset reconstruction arm, expects to participate in larger deals using the distressed asset fund 25 years after liberalisation, India is richer but more unequal India joined global markets with its 1991 New Economic Policy, lifting GDP, but the income gap widened. Standard Chartered drops in foreign bank pecking order The London based lenders net profit from India fell 67% in the fiscal year ended March 2016, results released through an advertisement in an economic weekly said. Power Finance Corp recommends 1:1 bonus share issue New Delhi, Jul 14 () Power Finance Corp today said its board has approved issuing one bonus share for every equity share held by shareholders and increasing authorised share capital of the firm to Rs 10,000 crore from Rs 2,000 crore. ICICI tops mobile banking features benchmark of Indian banks: Forrester Forrester recently evaluated six Indian banks and rated them for the mobile banking features they provide. India’s sovereign wealth fund identifies first eight projects for investments NIIF’s selected projects include the Konkan Railways project, a power transmission project in the north region, and a few road projects Meet the inheritors of India’s business empires Here is a list of the young guns of corporate India whose billionaire fathers are valued at more than $2 billion Granules to acquire 12.5% stake in US-based drug maker USpharma Move to enable Granules to participate in product selection and have right of first refusal to market the select products which are under development by USpharma Are leveraged buyouts on the rise? More than eight out of every 10 leveraged buyouts that happened in post-liberalization India took place after 2007, finds analysis Quess Corp to Ujjivan Financial, India Inc fund raising via IPOs soars to Rs 8182 cr Indian companies raised `8,182.5 crore through initial public offerings (IPOs), as on June 2016, according to Prime Database. During the corresponding period a year ago, money raised via IPOs was `3,849.1 crore. Five sectors make up for over 75% of India Inc's profits despite changes in business environment: Research IT, automotive, utilities, healthcare & auto-component contributed three fourths or nearly Rs 27 lakh crore to the bottom-line in 2015 compared to 38% 5 years ago. India can create more jobs if 'Make in India' is tweaked to 'Export from India': John Rice, GE “If there was a comprehensive export credit facility here in India, we and other investors would certainly look at doing more here,” John Rice said. Snapdeal and Future Group are final contenders to acquire Jabong Jabong could fit into Biyanis play asFuture Group is bullish on fashion business and Future hasnt built scalable ecommerce ventures on its own. Titan to buy 62% stake in CaratLane for Rs 357.24 Cr Titan, which owns the jewellery chain Tanishq, expects this acquisition to have "very high synergy" with its jewellery business, which generated nearl.. Pizza Hut same store sales decline 7% year-on-year Restaurant chain Yum India owned Pizza Hut and KFC, which contribute 1% each to their global divisions, reported 7% year-on-year same store sales decline of Pizza Hut for the April-June 2016 quarter. Samsung Smartphone Users to Get Reliance Jio SIM With 3 Months Free Data: Report The Jio Preview Offer is available for both existing and new customers of select Samsung smartphones. Distiman app wants to help kirana stores maximise profits The Distiman app allows your mom and pop or popularly known as kirana stores to maximise profits through on-demand procurement of stock. Amazon inaugurates India's biggest fulfilment centre in Haryana The e-tailer had earlier this month announced that it is expanding its infrastructure by adding six more fulfilment centres taking the total number to 27 to better equip itself for the upcoming festive season. Merging Flipkart, Snapdeal the best way to beat Amazon The two e-comm firms are burning through cash & it doesn't look like flames of competition are going to die down while they're being fanned by Amazon. Ahead of curfew, telecom operators asked to suspend services in JK All private telecom operators in Jammu and Kashmir have been asked to suspend their services for a day, starting this evening, as a precautionary measure in the wake of widespread violence in the state. 4G Launch Means Demise of CDMA In India CDMA technology, which broke new ground in India, seems unlikely to be around much longer. 6 Major Implications of Reliance Jio's Impending Launch on Indian Telecom By now Jio's network has already opened for people interested in using it. Earlier, it was only employees that got access to the network. Later on the empl Pokémon GO biggest mobile game in US history; could outdo Snapchat next Pokémon GO has becomes the biggest mobile game in US history, according to data from SurveyMonkey. Cisco is open to invest in Indian startups: Chuck Robbins "There’s a incredible talent base in India, so the opportunity from just a pure number of startups should be huge,"Chuck Robbins said in an intervie.. CloudFlare probes mystery interception of site traffic across India Traffic to Pirate Bay and others redirected to AirTel banned URL notice How new breed of early-stage venture funds mark the return of classic venture investing More than a dozen such funds have been launched in the past year, show data from research firm VCCEdge, each of them redefining traditional investment strategies. Aimia Inc launches Nectar, an e-commerce loyalty program in India modelled on their highly successful loyalty program with the same name in UK Major online retailers like Flipkart, Amazon, Snapdeal on board MobiKwik launches lighter Android app: Are mobile wallets finally gaining traction? MobiKwik, the third largest mobile wallet in India, has an new lite Android app. The size is now reduced to 5MB and the company claims it to be the lightest mobile wallet app in the country. Why Brands Should Go Beyond Discounts for e-Shoppers Ad Age is the leading global source of news, intelligence and conversation for marketing and media communities Reliance Jio looks to expand subscriber base ahead of commercial launch : Extends three-month unlimited data preview offer Users of certain Samsung smartphones will be offered free unlimited 4G data and 4,500 minutes of voice calls, unlimited video calls and SMS. 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