Nov 11, 2016 - E-transactions: A fillip to the cashless economy

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Sree Vijaykumar From the Editor's Desk The demonetization program has been received well for the most part and full marks to the government for doing something that will definitely help India in the medium to long term. There are some minor logistical issues as banks scramble to handle the long customer queues. Several daily wage earners are going through moments of anxiety as bank branches run out of notes (our local HDFC and Bank of Baroda branches were out of cash most of yesterday). The government should continue to aggressively communicate the details on all media so panic doesn't set in. I haven't seen any credible loophole theories yet, but wonder why the Rs 2000 bill is being introduced - seems like it will help create future black money. Mr Chidambaram and others have questioned this. For a detailed analysis, including historical precedents, read the full TradeBriefs Exclusive here Advertisers of the day The Economist: Subscribe now and get a Hidesign passport wallet free BMW: Celebrate joy with BMW Festival 2016   Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails (B2B Decision-Makers, B2C Decision-Makers, TradeBriefs Premium). E-transactions: A fillip to the cashless economy Finance minister Arun Jaitley said that the decision to remove the high denomination notes was aimed at making India a cashless economy. Advt: Work for the best employer - Yourself Advantages - Best B2B audience in India, no hard-selling or up-front costs involved, access to our content repository and air-tight agreements with instant gratification. Apply now   The Real Deal with Email and What TradeBriefs does right So, here’s the real deal with email. Yes, we all get too much email, but for those of us who check it, we do so over 15 times a day.   IFMR Capital raises $25 million from Eight Roads Ventures The fresh round of investment by Eight Road Ventures will help IFMR Capital grow its existing business and explore other opportunities across new products and sectors Refilling ATMs: Rural areas to get priority Citizens are struggling to meet their daily expenses as Prime Minister Narendra Modis decision to make Rs 500 and Rs 1,000 currency notes illegal. Demonetisation: Banks told to keep a hawk's eye on new accounts, deposits Some large private sector banks have decided to use this as an opportunity to do fresh KYC of their customers by seeking fresh identity proof. 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Bayer group hints at continuing crop research in India Bayer group is setting up a new plant at Vapi in Gujarat with €30-million fresh investments As fraudsters try to cash in on demonetisation, here is how to protect your money and bank account Since November 10 morning, banks have reopened to the public, allowing them to turn in the old currency notes for smaller denominations or to deposit into their accounts. Independent directors should act in interest of all shareholders: Sebi chief UK Sinha The Tata-Mistry boardroom battle playing out on several Tata Group companies has put the spot light on the role and responsibilities of independent directors. Sebi to come out with regulations on investment advisers co-location "I have received stock tips via text messages which I'm sure goes to thousands of people.Investors are being mislead and Sebi can't stay silent on that,"Sebi chairman U K Sinha said. SBI says customers can use debit cards without concern The Bank's response came to a clarification sought by stock exchange on recent reports on debit cards blocking in the wake of suspected data breach. Demonetization and Donald Trump's triumph: Impact on Indian real estate There is currently a lot of debate happening on how the government’s demonetization move will impact the real estate sector. Yes Bank waives charges on withdrawals from other ATMs The Mumbai-based mid-sized lender said all of its branches will cater to its customers up to 1800 hrs every day to ensure better service delivery. Fullerton India eyes 35% growth in housing finance business Fullerton India Credit Company Ltd, a fully owned subsidiary of Singapore-based Fullerton Financial Holdings, eyes 30-35 per cent year-on-year growth in its housing finance business.Fullerton India has formed a separate company for housing finance Why is the currency ban causing markets to rise? We should expect to see an impact on business and growth in the short term as a large part of the business is cash-based Banks directed to expand banking facility in remote areas : Kiren Rijiju Minister of State for Home Affairs Kiren Rijiju on Thursday said the government has directed banks to expand their facilities in the remote areas to ensure that people have easy access to the financial system in the wake of demonetisation of Rs 500 and Rs 1,000 currency notes. RBI launches new Rs 500, Rs 2000 notes; people flock banks The new notes come loaded with enhanced security features, besides having peculiar colour, theme and size. Tata Sons seeks Cyrus Mistry’s removal from TCS, IHCL boards Tata Sons, which has a 73.26% in TCS, has nominated Ishaat Hussain, a long-time Tata group veteran, as the interim chairman of TCS with immediate effect Why India is courting Japan PM Modi said that the two countries see each other through a prism of shared Buddhist heritage, democratic values, and commitment. Economists see pain, then gain for India after bank note shock Some now expect the RBI to make deeper cuts to the repo rate than expected, after it lowered it by a quarter percentage point last month. Demonetisation effect: You could soon swipe cards at paan shops, kirana stores With the latest move by the government to curb black money, POS manufacturing firms have seen a doubling of demand from this segment of merchants. How Shoppers Stop is reinventing itself at 25 The retail chain is leveraging its past relationships and using its repository of customer data to plot its future course Shoppers Stop shuts two stores in Maharashtra Lower than expected business and low profitability are the reasons CAIT appeals to government to allow traders to accept invalid notes However, the body said that the measure highlighted significance of digital payments as people using various payment modes like credit and debit card. Shoppers Stop eyes 2 M online users, 15% online sales by 2020 The company said that it presently offers 60 percent of its products online and plans it to increase to 85 percent in the next eight month. How shopping on Facebook, Instagram will impact e-commerce in SE Asia Having a pleasant online experience through social commerce will make people trust digital purchases, reports Tech in Asia eBay lays off employees in Bangalore claiming 'regular operational review' eBay India is laying off close to 100 employees from its technology and product development team in Bangalore Kishore Biyani had 'consumption guilt', thanks to socialist parents However, the Future Group founder adds that he thinks his daughters and next generation won't have the guilt. Wendy's sales beat as more diners visit burger chain Wendy's Co (WEN.O) reported higher-than-expected quarterly sales as more diners visited the burger chain's outlets, despite a fall in grocery prices that has encouraged people to eat at home. Apple Starts Selling Refurbished iPhones on Its Online Store After selling refurbished Macs, iPads and iPods for years, Apple now has started selling refurbed iPhones on its US online store. Reliance Jio call drop rate reduces to 28% It also asked Jio to ensure that the additional interconnection points be operationalised with the same promptness as they have been made available at a staggering pace by Bharti. Telecom sector will have 8.6 million jobs by 2022, expert says The country would require about 83 lakh skilled persons in the telecom sector in the next five years, a top official of Telecom Sector Skill Council (TSSC) said today. Nearly 38 lakh hands will be needed in manufacturing segment, prominently in Mobile payment transaction volume to reach Rs153 billion by FY22 Flagship government initiatives such as Digital India, together with demonetizing Rs500 and Rs1,000 notes will act as key catalysts, says Assocham LeEco committed to India market despite cash crunch LeEco considers India a highly important market and will continue to introduce new products in the world’s fastest growing smartphone market, amid a.. State plans option to shift bars, wine shops out of villages In a move which is likely to attract opposition, especially from women’s organisations, the State excise department is set to introduce the option to shift wine shops and bars outside villages, instea Indian entrepreneurs and the 'first wind' effect Four key trends in the consumer sector present an opportunity for Indian entrepreneurs and brands like Paper Boat and Wildcraft Singhi Advisors picks stake in Rakesh Jhunjhunwala-backed company Singhi Advisors, a Mumbai-based mid-market focused investment bank, will invest in it Dabur looks at Africa, West Asia for growth to beat slowdown Dabur, the fast moving consumer goods major, is increasingly turning to markets outside India for growth, as the domestic market continues to be subdued.A little over a third of revenue comes from abroad and it is investing Rs 500 crore to expand India the market to be in, say mid-market i-bankers MERGERALLIANCE 2 LAST(BCM34) BIOFACH INDIA,INDIA ORGANIC 2016 starts on positive note in Delhi Rani Kumudini, Joint Secretary, Ministry of Agriculture, inaugurated the 8th edition of "BIOFACH India together with INDIA ORGANIC 2016" today at NSIC Exhibition Grounds, Okhla.Other eminent dignitaries present at the inauguration included Mr. KAI Group forays Indian market : PTI feed, News KAI Group forays Indian market 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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