Jun 12, 2017 - Lendingkart Finance raises fresh debt funding from YES Bank

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Sree Vijaykumar From the Editor's Desk On Tuesday, Amazon announced that it will slash the price of membership to its Prime program by almost 50 percent for low-income shoppers on federal welfare. The move might seem like a unique form of private-sector charity for poor Americans. But it's also a direct challenge to Walmart, the reigning king of American retail, which relies heavily on low-income shoppers and receives nearly one of every five dollars of its revenue through SNAP, or food stamps, each year. Walmart is also expanding its e-commerce business with recent acquisitions like Jet.com and Modcloth. It seems like Amazon wants to become Walmart faster than Walmart can become Amazon! More here Advertisers of the day On behalf of SAP India: Get GST-Ready in just a few weeks shivkhera: Optimize Performance and Move Up to the Next Level : Programs by Mr. Shiv Khera   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). Advt: Lending solutions for all your long-term business needs No company starts big. They grow over time. Standard Chartered will be your companion in this growth journey, giving you solutions that fit your needs at every stage (Know More) 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. RBI vs finance ministry: What does the Taylor rule say? The Taylor rule suggests that Arvind Subramanian is right to call for interest rate cuts Shriram transport finance rethinks plato raise funds via masala bonds RBI had tightened norms on masala bond or rupee-denominated bonds in its recent policy review. Six payment cos vie for SBI's PoS business SBI's merchant acquiring business has around 450,000 merchants exclusively. Lakshmi Vilas Bank to raise Rs 1000-1100 crore The earnings per share revisions in India may turn positive in the coming months. Maha loan relief will upset its fiscal math Ratings agency estimates that the debt burden will rise 17.44 per cent. As global economic uncertainty rises, so should market volatility The gap between an index of Economic Policy Uncertainty and the Chicago VIX, an index of market volatility, may be closed soon and the tight historical correlation between the two re-established by an increase in market volatility Can a hydropower revival package solve NHPC’s problems? Unless NHPC demonstrates execution capabilities and the return on equity improves, the stock can find little long-term support Why India's bad loan problem is really bad The average bad loans of public sector banks are 75.53% of their net worth; for many, they have exceeded their net worth. This is why both RBI and govt are worried SBI merger with associate banks may further deteriorate asset quality Merger of retail loan portfolio of associate banks with the parent bank is likely to worsen the latter’s asset quality, a sign that bad loan clean-up is not yet over at SBI Sebi not to penalize self trades, sets legal policy for such orders As per Sebi’s legal policy, self trade orders and proceedings would be allowed to be settled through consent mechanism against a nominal fee of Rs2-5 lakh Lendingkart raises Rs50 crore debt from Yes Bank Yes Bank’s funding in Lendingkart could see the online loans startup gradually shift to banks for loans as against NBFC at present Russia’s Rosatom may acquire wind power projects in India Russian firm Rosatom State Atomic Energy will increase its India investments with wind energy projects, may also set up small hydropower projects in the country Helped by SBI issue, QIPs on course for a record breaking year Less than 6 months into 2017, 13 companies have raised Rs31,406 crore through QIPs—that’s just a couple of crores short of the record Rs34,675 crore in 2009 Sebi board to consider cutting IPO listing time to 4 days Sebi plans to reduce listing time to four working days from the current six trim the size of share sale documents, as part of revamp of its IPO norms Time for the great Indian PSU selloff has perhaps arrived. Here are some unmistakable pointers From what Modi and many ministers have said, one can be fairly convinced that there is full understanding in this govt that it must get out of business. Government, Banks Board Bureau set to start hunt for next State Bank of India chairman All four managing directors of the bank – Rajnish Kumar, B Sriram, PK Gupta and Dinesh Kumar Khara – are in the running to succeed Bhattacharya. Five reasons why one should own debt funds While equity mutual funds are gaining traction with retail investors, debt funds remain uncharted waters for them Which businesses will define the current decade? E-commerce is the only obvious candidate, but is still unprofitable, and given the economics of the business, unlikely to turn profitable anytime soon Note ban has and may continue to result in a slowdown: SBI The govt had discontinued Rs 500 and Rs 1,000 banknotes from Nov 9, 2016 and issued new Rs 500 and Rs 2,000 currency notes in exchange for the discontinued ones. Need to strengthen loan restructuring mechanism: MoS Finance Arjun Ram Meghwal Arjun Ram Meghwal Meghwal said the government brought in the ordinance giving wide-ranging legislative powers to the Reserve Bank on the non-performing asset (NPA) front. Toshiba to pay $3.68 billion for Westinghouse reactors in US Toshiba said the payment, toward the construction of two reactors in Georgia by its US unit Westinghouse, will be made from October through January 2021 As Ola and Uber tweak their incentives, drivers say that it is driving them to suicide With Uber and Ola drivers contemplating suicide, we speak with drivers about what they're facing. Sears nearing the end? 66 more Sears and Kmart stores to close Even as Sears Holding Corp. announced 66 more store closings this week, experts say more are in the offing.Sears’ announcement involve 49 Kmart and 17 Sears stores nationwide. Three are in South Jersey: a Sears in Vineland, and Kmarts in Mantua, Gloucester County, and Manahawkin, Ocean County.Three Kmarts in western Pennsylvania — in Belle Vernon, Indiana, and Butler — also will close. No Sears stores in Pennsylvania will be affected in this round of cuts, and no Kmarts or CaratLane opens new store at Infiniti Mall in Mumbai, targets 50 by FY2017-18 CaratLane, one of India's leading Omnichannel jewellers has opened its third store in Mumbai Metropolitan Region, at Infiniti Mall, Malad West.For a brand that’s on a mission to democratize acc Report says quarter of American malls expected to close by 2022 A new report from Credit Suisse predicts that between 20 to 25 percent of malls in America will close within the next five years. India 'seen as a top market' in retail, commercial realty Farook Mahmood, Chairman and Managing Director of the Bengaluru-based real estate company Silverline Group, has been elected global president of FIABCI, the International Real Estate Federation. Mahmood, who has GST rings early bonanza for shoppers across high streets and malls GST rate of 12% is proposed for apparel costing above Rs 1,000 and 18% for footwear above Rs 500 Xiaomi India MD Manu Jain: Mi phones will be coming to India for sure Xiaomi is now the second largest smartphone vendor in India. Its Redmi Note 4 became the highest selling smartphone in terms of volume in the first quarter of 2017, beating Samsung’s popular J series, which is a first. Ministers' group to hold final meet with telcos this week An Inter-Ministerial Group (IMG) set up to look into the bleeding telecom sector is sla Telecom industry disappointed at unchanged GST rate Separately, handset makers are seeking the intervention of finance minister Arun Jaitley to start the introduction of the GST a month later from August 1. Alibaba Cloud to open first data centre in India The new Asian data centers will offer a full suite of services, providing the flexibility for enterprises and organizations to build their entire IT infrastructure for business on Alibaba Cloud. New report shows how quickly India's tech and mobile market is growing If there’s been any doubt about India being... IoT in India: Here's what the industry thinks As India has slowly started to emerge as a global destination for many of the IoT technologies, the industry is looking forward to orchestration of st.. Impact on FMCG to be largely positive The rollout of the goods and services tax (GST) will be largely positive for the fast-moving consumer goods (FMCG) sector, according to experts. A scientific take on fake eggs, plastic rice and other items Organic food lobby could be behind the rumour factory that makes synthetic food and the dearth of scientific temper leads consumers to believe such stories FMCG products to see decline in volume post GST: Britannia The company, however, said that with tax rates for the overall biscuit category being largely neutral, GST would provide a level-playing field to organised players in the industry. "It is time to perceive restaurants as an industry and not a rich man's pastime" Even as L Catterton eyes a majority stake in his company, restauranteur Riyaaz Amlani is readying to invest in smaller brands and partnering with chefs and entrepreneurs with quirky ideas Dabur Promoter's 'HealthCare atHOME' to Expand its Services Pan India by End of 2017 The Burman family of Dabur fame is going into tech driven healthcare services from their days promoting traditional Ayurvedic treatments, , dabur, Burman, Healthcare atHOME, Vivek Srivastava Daily consumer goods to become cheaper under GST: FinMin New Delhi, June 8 (IANS) Daily consumer goods are likely to become cheaper by 4-5 per cent under the Goods and Services Tax (GST) system, benefitting the common man, the Finance Ministry said on Thursday. Fledgling assistive technology space gets help from startups Assistive technology is underserved in India. 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