Jul 28, 2016 - HDFC, Axis Bank and other private banks' unsecured retail lending portfolio rising

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Sree Vijaykumar From the Editor's Desk IoT is a term that has been misused and misunderstood as many times as 'cloud computing' or now 'AI'. This Economist article takes a quick look at the current state of IoT and how China stands to benefit. GE has just announced a 'digital foundry' in Shanghai. Siemens, HP, Honeywell, Cisco are all rushing in. Local Chinese companies are not far behind. China, as the manufacturing capital of the world, is well poised to take advantage of IoT to make its factories more efficient. Sensors (which are already made in China) combined with software, can ensure that billions of machines are better utilized. Industrial IoT, with relatively fewer variables, is likely to progress faster than the consumer version of it (eg: your refrigerator contacting the supermarket to restock itself). Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails. HDFC, Axis Bank and other private banks' unsecured retail lending portfolio rising Personal and credit card business comprised 5 per cent of HDFC banks total retail book which stood at over Rs 3.2 lakh crore. Blackstone and 2 others selected to sell DLF's stake in office rental arm Last October, DLF, one of Indias largest real estate developer, had said that its promoters led by KP Singh and family would sell their 40 per cent stake. PSU employees may be able to buy more shares of their company NTPC employees bid for more than 85 per cent of the over 2 crore shares offered to them at a 5 per cent discount to the price at which the government sold. SBI to refinance new entity’s Rs 28,000cr debt in the RCOM-Aircel merger RCom will separate its wireless business and merge it with the existing unlisted Aircel, with promoters of both sides owning 50% each in the combined entity. Government raises foreign shareholding cap in stock exchanges to 15% The cabinet also moves to cut red tape around PSU defence firms forming joint ventures with private ones Chatterjee Group to acquire 90% stake in Mitsubishi Chemical’s India unit Mitsubishi Chemical says it was scaling back investments in commodity chemicals such as PTA, a precursor to polyester, to focus on other businesses Sebi may let investors buy mutual funds with digital wallets Sebi in talks with RBI to frame regulations allowing such transactions, in an effort to expand access to such investment products Should RBI issue a new digital Bharatcoin? RBI should strive to be at the cutting edge of thinking on digital currencies GST bill: Cabinet clears key amendments to push reform through Parliament 1% additional levy on supply of goods scrapped, full compensation proposed to states for five years for revenue loss; changes pave way for tabling of bill in Rajya Sabha RBI slaps Rs 27-crore penalty on 13 banks for FEMA violations UCO Bank in a BSE filing said that RBI has "imposed a penalty" of Rs 2 crore on the Bank on account of "few lapses in adherence to KYC/AML guidelines". SBI kick-starts merger operations, appoints external parties Public share holdings in SBBJ, SBT and SBM are in the range of 10-25%, while the parent bank fully owns the State Bank of Hyderabad and State Bank of Patiala. Edutech start-up Byndr raises $700,000 in seed funding Byndr will use this money to expand its sales and development teams and build on the product to give more access to educational content for students Aadhar Housing Finance to raise Rs 200 crore from banks Aadhar Housing, a Dewan Housing Group company, aims to disburse Rs 2,100 crore this fiscal, more than double of last year's disbursal of Rs 1010 crore. How can India bridge the gap between its middle and median class? Middle class income levels are still a luxury for majority of India’s population Shinzo Abe’s plan for $265 bn in stimulus puts pressure on BoJ to ease Shinzo Abe’s announcement pressures the Bank of Japan to match his big spending plan with additional monetary easing at its rate review ending on Friday Sahara rejects $1.3 billion offer for three overseas hotels Sahara group rejects offer from a group of investors for its three overseas hotels, terms it as a ‘devious attempt’ to lower the price PSU banks’ share of market cap much lower than their share of business The market cap of public sector banks which stood at 56.72% of total industry market cap in 2008-09 nearly halved to 29.02% in 2015-16 Canara Bank gets shareholders nod to raise up to Rs 2,000 crore In a filing, Canara Bank said RBI has imposed a penalty of Rs 2 crore on it for violation of anti-money laundering norms. Mezi raises $9 million from Nexus Venture, Saama Capital, others The investment will be used to support the company’s growth and accelerate Mezi’s product and artificial intelligence technology development RBI’s forex war chest gears up for uncertainty RBI parked 5.8% of its forex reserves in commercial bank deposits as of March 2016, data shows Deutsche Boerse shareholders back London Stock Exchange merger Frankfurt, July 26, 2016 (AFP) -The Frankfurt stock exchange Deutsche Boerse on Tuesday said its shareholders had backed a planned merger with the London Stock Exchange (LSE) to create a new global player. Goldman sued over 1MDB links in Malaysian bank merger Goldman Sachs Group Inc was sued on Tuesday by a major shareholder of a Malaysian bank it once advised, and which accused the Wall Street bank of fraudulently shortchanging it in a merger to curry favor with that country's prime minister. New banking entrants to help improve credit culture: RBI Mumbai, Jul 26 () Reserve Bank's newly appointed deputy governor N S Vishwanathan today said the entry of new players in banking space should improve the credit culture. "Competition is very important... We have licenced 11 payments banks, 10 small finance banks. DBS Bank eyes Indian SME sector Hopes to increase its SME customer base by 30-40% in the current year French luxury label Longchamp plans to open six stores in India Longchamp owns more than 300 exclusive stores globally and retails from another 1,500 points of sale and has a workforce of around 3,000. Real, Slice push fizzy drinks Coca-Cola and Pepsi out of top 5 beverage brands in modern trade Healthier drinks are growing much faster than the aerated drinks segment that continue to post mid-single-digit growth of 4-6 per cent. Post GST, logistics business will improve: Abhik Mitra of Spoton “Logistics business will change quite dramatically following GST,” Abhik Mitra, Ma Bonita targets Rs 100 cr turnover; to open 25 exclusive stores: JMD Umang Srivastava Home Utility product maker Bonita India has made its strong foothold in India as well as abroad with its presence over 25 countries including USA and UK. In his interaction with Akash Sinha, Bonita India’s JMD Umang Srivastava talks about company’s revenue to future plans. Excerpts: Apple to open retail stores in India soon: CEO Tim Cook The remarks assume significance since Apple was studying the changes in norms for single brand retailers announced last month to set up stores in the country. Is India ready for a branded player in the $40 billion religion market? Now, startups provide services ranging from arranging a puja and pandit, besides offering consultations in astrology, numerology, and Vastu. US-based mutual fund hikes Flipkart valuation Several of Flipkart’s other investors such as Morgan Stanley, Valic Co I, T Rowe Price and Vanguard have reduced the e-tailer’s valuation over the last six-to-seven months. CXO salaries lose steam after 2 years of ecommerce-fuelled boom, pay for new hire also slips Many who got swept up during the boom of 2014 and 2015 are getting back to lower-paying but stable jobs at half their previous salaries in some instances. SpiceJet sets up unit for consumer merchandise business No-frills airline SpiceJet today said it has incorporated a subsidiary that will focus on consumer merchandise and goods business. Flipkart buying Jabong shows that fashion e-retail in India is a bloodbath full of opportunity Garment portals are growing quickly, but many are still making losses. ShopFilo.com launches lightest mobile app for enhanced shopping experience India's first virtualized supermarket store on internet ShopFilo.com announced launch of its new light-weight mobile app to bring on-board the mobile internet users, who are located in low connectivity zone or are still using 2G Amazon ahead of Flipkart in retail app downloads in India Amazon Prime is available in India, but what does it mean for Flipkart First Subscription? We compare the two services. Ananth Narayanan Replaces Sanjeev Mohanty as the New CEO of Jabong In a letter which is address to employees, Sanjeev Mohanty told all the employees that they should remember this day as this as the " birthing of a giant"., , jabong, myntra, flipkart, Jabong's acquisition 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