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Wednesday, March 01, 2017

Mar 1, 2017 - In India, a new banking system to reach the masses

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
Business schools like to boast about how many of their graduates have become CEOs-Harvard especially, since it has the most. But how do these people do as CEOs: are the skills needed to perform there the same as those that get them there? MBA students enter the prestigious business schools smart, determined, and often aggressive. There, case studies teach them how to pronounce cleverly on situations they know little about, while analytic techniques give them the impression that they can tackle any problem-no in-depth experience required. With graduation comes the confidence of having been to a proper business school, not to mention the "old boys" network that can boost them to the "top." Then what? More here

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In India, a new banking system to reach the masses

The sudden cash shortage forced millions to join the formal banking sector for the first time, helping Prime Minister Narendra Modi meet a long-term goal.

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What explains 7% GDP growth despite Modi’s demonetisation drive?

Strategic timing of demonetisation and fiscal stimulus seems to have helped in retaining growth despite demonetisation

Banks to enable all accounts with netbanking by March: Ravi Shankar Prasad

According to an official in the know, in the meeting it has been decided that all banks will be given instructions that all accounts have to be net banking enabled by March 31.

Paper chase may end soon as spread between CP and bank rates narrows

The average gap, or spread, between CPs and bank lending rates based on MCLR now stands at 50-75 basis points against about 150 bps in Sept-Oct last year.

SBI sees bad loans at banks worsening on slower growth

The resolution process for bad loans has been delayed as the current tools offered by the RBI, says SBI chief Arundhati Bhattacharya

Tata group must exit telecom after burying hatchet with Docomo

Exiting telecom would allow Tata group, a $103 billion conglomerate, to push more capital into other, more lucrative businesses

Was the demonetisation scare an old wives’ tale?

The impact of demonetisation has been negligible on the Indian Economy, going by the India GDP growth rate numbers released by the CSO on Tuesday

Tough love for bad debt? RBI's Viral Acharya targets banks' toxic loans

Colleagues who have worked with him believe Acharya can bring urgency to the debate about India's banking woes, sparked when a boom in lending after 2009 backfired.

Bank crisis: Until stressed assets dealt with, economic growth in India will be choked off

RBI Deputy Governor, Viral Acharya's solution is worth describing in detail, even if one is repeating his ideas, because his points need to be driven home with urgency.

Sebi’s new chairman Ajay Tyagi has to tackle challenges of the digital age

Sebi’s new chairman Ajay Tyagi has his plate full with old issues such as refunding the Sahara investors and new ones like high-frequency trading

Jaishankar to bat for Indian companies in US

Indias envoy to the US, Navtej Sarna, has already flagged the countrys concerns during his recent interactions with the State Department.

Why the time may be ripe for consolidation in Indian banking

Consolidation may happen in 3 different segments of Indian banking – state-owned, privately managed, and the old private sector community-dominated banks.

IndusInd Bank: Romesh Sobti's lieutenants who turned his vision into reality

IndusInd Bank is valued on par with HDFC Bank by investors, thanks to Romesh Sobtis vision in building an institution with values.

India Post Payments Bank will keep operations simple: CEO Ashok Singh

India Post Payments Bank CEO Ashok Pal Singh says the bank will focus on mutual funds, pure life insurance products and small loans

Strike paralyses banking operations, ATMs go dry

Banking operations across the country came to a halt on Tuesday as 10 lakh bankers staged a strike against the governments -anti-people banking reforms-, said a bank union leader.

TPG Growth set to acquire 25% stake in Dodla Dairy

TPG Growth will acquire Proterra Investment Partners’s 25% stake in Dodla Dairy in a deal worth Rs300 crore

Rakesh Jhunjhunwala’s focus on philanthropy is as sharp as on markets

Rakesh Jhunjhunwala’s philanthropic portfolio includes nutrition and education, he also monitors govt spending on social welfare, water management

iGenetic Diagnostics raises Rs130 crore from Manipal Education, UK’s CDC Group

iGenetic Diagnostics plans to use a major chunk of the latest funding for acquisitions

Bitcoin’s top rival Ethereum is up 90% and readying its next big move

Ethereum is the second-most popular cryptocurrency behind bitcoin setting records almost every day as investors look to hedge against potential global uncertainty

Motilal Oswal Private Equity invests Rs 100 crore in Updater Services

India Business Excellence Fund - II and India Business Excellence Fund - IIA, funds managed and/or advised by MOPE Investment Advisors Private Limited ("MOPE"), have committed to invest Rs 100 crore for a minority stake in Chennai-based Updater

India takes issue of defaulters very seriously: Finance Minister Arun Jaitley

Jaitley said Indian investigating agencies are utilising every provision of the law available to them to recover amounts and attach assets in India

SoftBank to merge OneWeb with Intelsat, invest $1.7 billion

Masayoshi Son’s SoftBank to merge OneWeb with Intelsat in a share-for-share transaction. SoftBank will invest $1.7 billion in cash, retain a 39.9% voting stake in the combined firm

Future Group will target personal care next: Kishore Biyani

Speaking to CNBC-TV18, Kishore Biyani, Group CEO of Future Group, said the current focus was on making its joint venture with organic food company Hain Celestial a success.

Forever 21 strengthens its foothold; opens 15th store in India

Forever 21, a leading fast fashion brand from Aditya Birla Fashion and Retail Ltd. strengthens its foothold in Mumbai with the launch of its 4th store, taking the total count to 15 stores in India.

abof to launch SKULT merchandise in brick and mortar stores in next quarter

The brand said they are in talks with names like Shoppers Stop, Lifestyle, Central and Pantaloons to offer the SKULT products in these large format re..

Marks & Spencer launches store on

As the online fashion retail market in India continues to grow, the move responds to the changing way Indian customers shop and will help complement M..

How mobile phones can connect 'unbanked' people and solve India's financial crisis

Long before the likes of Uber and Apple Pay made mobile payments common currency, people in Kenya, India and Romania were already replacing bank accounts with phones.

Spectrum sale likely in second half of this year: JS Deepak

Regulator Trai on Tuesday said it will be

India's mobile handset industry's revenue up 22% to Rs 1.4 lakh crore in 2016: CMR

Although revenues from feature phones constituted a very small chunk at around 14 per cent, in terms of volume they hold about 57 per cent of the market, the report said.

Samsung to upgrade RJio's LTE mobile communication services in India

Samsung Electronics has announced an Infill & Growth (I&G) project for Relianc

India keen to adopt 5G early, says Telecom Secretary

"We were late in 3G and 4G, so we are keen that we should not be deprived of 5G. It has a wider application for the industry including smart cities and management of grids. So we are keen to be with the world," Telecom Secretary J S Deepak said.

Reliance Jio impact: Airtel removes roaming charges on calls, data

Airtel announced removal of all roaming charges for all calls as well as SMS and data usage within India

5 major telcos optimum for Indian mkt: Telecom Secy

Vodafone and Idea have already said that they are considering merging their businesses in India, a move that would create the biggest telecom operator in the country with about USD 12 billion in sales.

Vodafone Group's ex-CEO Arun Sarin says India telecom consolidation good for customers; three reasons why

The ongoing consolidation in the Indian telecommunication sectors with the merger of Vodafone India and Idea Cellular, and Bharti Airtel and Telenor India, will be good for the customers despite three large entities controlling the bulk of the market, as the intense competition between them will continue, Vodafone Group’s former CEO Arun Sarin has said.

How Yellow Diamond is planning to give big daddies a run for their money

BE takes a look at the Indore-based snack brand, Yellow Diamond

GHMC to bring wine shops under trade licence net

The Greater Hyderabad Municipal Corporation is mulling over to bring all wine shops into trade license net. The civic body officials have now decided to collect trade license fee from wine shops and their permit rooms in order to enhance revenues. The corporation officials claim that GHMC would mop-up at least Rs 20 crore through this move.

PepsiCo announces Maharashtra plans as Indra Nooyi begins India tour

PepsiCo India has already invested Rs 180 crore in a citrus processing facility in Nanded

Amazon awaits FDI approval to deliver groceries at doorstep

Besides groceries, Amazon India will continue to invest heavily in the fast-moving consumer goods (FMCG) business for a few more years, according to Director, FMCG category management, Saurabh Srivastava.

US economy slowed in Q4 despite robust consumer spending

Modi's decision last November to outlaw old Rs 500 Rs 1,000 rupee banknotes was widely expected to exact a heavy toll on an economy.

Not just Nestle's Milo, GSK's Horlicks will now have to fight Danone's Protinex Grow

French company Danone SA is entering the Indian health food drink market with its product Protinex Grow

Exclusive: Agri-tech startup raises seed funding

Delhi-based VDSS Agri Tech Pvt. Ltd, which owns and operates agri-tech startup, has raised an undisclosed amount in seed funding from a clutch of angel investors as it looks to expand and strengthen its IT infrastructure. 

MNCs call the shots in home and personal care, Indian companies in food

Growing aspirations imply that consumers veer towards global brands in home and personal care

IPG Mediabrands retains Reckitt Benckiser India's media biz

The brand had called for a multi-agency pitch in October, last year

FMCG will continue to be growth driver for Amazon

FMCG will continue to be a growth driver for Amazon India, which indicated it may include medicines as a new product category given greater legal clarity is in place.

Future Consumer, Hain Celestial to manufacture Terra Chips

Mumbai, Feb 28 () Kishore Biyani-led Future Consumer, which entered in a joint venture with US-based Hain Celestial Group, today said it is setting up a chips manufacturing plant in Tumkur, Karnataka for an undisclosed sum.

GSK's Badri Beriwal moves to a food start-up

He joins Veeba Foods, an FMCG food start-up, as chief marketing officer.

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