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Monday, January 16, 2017

Jan 16, 2017 - ICICI Bank blocks payments for its customers on Flipkart's wallet PhonePe

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
Edgar Schein, professor emeritus at MIT Sloan School of Management, once asked a group of students what it means to be promoted to the rank of manager. "They said without hesitation, 'It means I can now tell others what to do.'" That's precisely the know-it-all style of leadership that has led to so much crisis and disappointment. "Deep down, many of us believe that if you are not winning, you are losing," Schein warns. The "tacit assumption" among executives "is that life is fundamentally and always a competition." But humility and ambition, he argues, need not be at odds. Instead, humility in the service of ambition is the most effective and sustainable mindset for leaders who aspire to do big things in a world filled with huge unknowns. More here

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ICICI Bank blocks payments for its customers on Flipkart’s wallet PhonePe

ICICI Bank cites restrictive practices and security concerns as reasons for blocking payments for its customers on Flipkarts wallet and payments app.




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ICICI Bank blocks transactions through Flipkart wallet PhonePe

These moves are seen as banks getting nervous of being disrupted by new-age digital payments players


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