Jun 2, 2017 - JSW mulls foray into non-bank finance industry

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Sree Vijaykumar From the Editor's Desk In 2013, thousands of school pupils in England received a letter from Ben, "a student at the University of Bristol", explaining that employers cared about the reputation of the university a student attended and pointing out that top universities can be a cheaper option for poorer pupils, because they give more financial aid. The letter had the effect that was hoped for. More poor students applied to the better universities. For each extra student in a better university, the initiative cost just £45 ($58), much less than universities' own attempts to broaden their intake. And the approach was less heavy-handed than imposing quotas for poorer pupils, an option previous governments had considered. The trial was run by the Behavioural Insights Team (BIT), a company spun out of the British government in 2014. BIT has pioneered the use of psychology to help policymakers change behaviour through "nudges" rather than taxes or laws. That approach is spreading, as governments from Australia to Qatar, and bodies such as the UN and World Bank, follow. 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). JSW mulls foray into non-bank finance industry JSW plans to invest as much as Rs10,000 crore ($1.6 billion) in the non-banking firm and is speaking to various partners for a potential joint venture 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. KKR raises $9.3 billion PE fund to invest in Asia Pacific region KKR Asian Fund III surpasses predecessor $6 billion KKR Asian Fund II to become one of the largest PE funds dedicated to investing in Asia Pacific State-run banks' Air India moment not far ​​Losses at state-run banks in the April quarter was Rs 10,000 crore, the amount government plans to hand out to them as capital this year. It’s time to bite the bullet on PSU banks: Uday Kotak The state, sooner or later, may have to make the difficult choice between putting in more good money after bad or being open to ‘strategic choices, said Kotak. Non-farm private sector growth in Indian economy lowest in four years Data show a steadily decelerating rate of growth since Q4 of FY16 which suggests that growth has been slowing even before demonetization and this trend was accelerated by the note ban Where India stands among Asian economies in manufacturing growth India stands in the middle of the Asian pack in the manufacturing PMI league tables for May Don't worry about GDP; India has put DeMo demons behind it The Indian economy will grow by 7.5 in fiscal year 2017 and 7.7% in 2018 and growth will gradually accelerate to around 8% over the next three to four years, global ratings agency Moody’s Investors Service said on Wednesday. The reason why Indian market goes up and up Data shows impressive growth in net capital flows to India India has received disproportionate amount of attention from global investors: Markus Rosgen, Citi Investors clearly have faith in the ability of the Modi administration to continue with the reform process Venture capital firms shy away from backing new start-ups in India MintAsia examines the venture capital investment scenario in Asia’s third largest economy GST would match or be lower than the multiple indirect taxes on real estate DLF’s CEO on GST, RERA, government’s ‘housing for all’ scheme, and more Amazon to dominate Indian e-commerce market in the long run: KPCB report Though Flipkart continues to lead Indian e-commerce, the pace of Amazon’s expansion in India and investments will help it emerge as the dominant player Government prods SBI to bring in strategic investors for Arcil The government has directed SBI to find strategic investors for Arcil, noting its importance in bad loan resolutions, said two senior SBI officials Banks to discuss RCom debt restructuring proposals today Banks have convened a meeting on Friday to discuss Reliance Communications’s debt restructuring, a day after Fitch cut RCom’s debt rating to junk status Sebi seeks replies from Yes Bank, ICICI and Axis Bank on bad loan divergences Sebi has sought explanations from Yes Bank, ICICI Bank and Axis Bank, which reported bad loans that diverged widely from RBI’s asset quality review Eris Lifesciences plans to launch Rs2,000 crore IPO in June The IPO launch will see private equity investor ChrysCapital sell all of its stake in Eris Lifesciences Merger may be preferred route for ONGC, HPCL A takeover would have resulted in HPCL becoming a subsidiary of ONGC HDFC buys 15 per cent stake in Tanzania's First Housing Finance Co The acquisition has been executed through HDFC in which 32.7 million equity shares, equivalent to 15 per cent share capital, have been bought at $1.5 million. RBI allows foreign investors to increase stake up to 49% in Tejas Networks RBI says foreign investors can now invest up to 49% from earlier limit of 24% and NRIs can invest up to 24% from earlier limit of 10% of the paid up capital of Tejas Networks Bank of India to focus on one-time settlement to recover bad loans Banks are allowed to settle NPA accounts even after taking large haircuts when recovery becomes difficult and to avoid lengthy and tedious legal process. Banks can check 3-year history of borrowers ​A next-gen algorithm enables banks to scour customer transactions to figure out which customers are under distress, and who are improving. Uber’s head of finance exits as revenue rises, losses narrow Uber’s revenue increased to $3.4 billion in the first quarter and losses narrowed, even as hundreds of thousands of people deleted the firm’s ride-hailing app from their phones YES Bank’s bet on UPI platform helps it make space in digital payments ecosystem According to reports, the Rana Kapoor-led bank has spent about Rs 1.5 crore on the technology and infrastructure setup for the platform. Flipkart investors stay divided over valuation Mutual fund investors Morgan Stanley, Vanguard upgrade Flipkart valuation to $7.5-8 billion, Valic and Fidelity Investments stick with a valuation downgrade ​GST won't affect retail sales like demonetisation did: Levi's CEO Levis India plans to apply for a single-brand licence in the country that will enable it to undertake its own ecommerce business. Sizzling summer fails to fire up sales of refrigerators, ACs Manufacturers have asked retailers to push sale of existing stock, especially older inventory that does not have excise invoices, so that retailers are not stuck with such transition stock. These Disruptions made by Flipkart over Ten Years Helped it Lead the E-commerce Sector This disruption by Flipkart virtually opened the e-commerce market in India. When Flipkart introduced cash-on-delivery (CoD), only 0.5 % of the population Heritage Foods hopes to grow dairy biz to 6000 crore Value-added products, cattle feed biz to contribute to growth, says Executive Director Fashion retailer Splash India hires Abhinav Zutshi as COO Splash Fashions, Middle East’s largest fast- fashion retailer has announced the appointment of Abhinav Zutshi as the new COO for Splash India.With over 15 years of experience in Retail, Distrib After Maharashtra farmers' protest, be prepared to pay double for veggies in Mumbai Hindustan Times After Maharashtra farmers' protest, be prepared to pay double for veggies in MumbaiWhile the Maharashtra farmers' protest had little impact on the supplies on Thursday, it may hit the supplies in the wholesale market and push up vegetable prices in the retail market by almost 100% by Tuesday, said traders from the APMC market in Navi ...sp; Homegrown Micromax, Lava, Karbonn struggle in Q1, 2017: Kleiner Perkins The intense competition is leading to a massive share shifts, the firm in its finding said. From biscuits to pulses, Parle diversifies Parle is foraying into pulses, a largely unorganised market that has few branded players, with 'Fresh Harvest'. Goods and Services Tax (GST): How small retailers will benefit As far as organised retail is considered GST would have a positive impact but for the entire retail sector, we need to see the impact in light of small retailer and shops. Internet Trends Report underscores India's mobile obsession, Reliance Jio disruption The growth in mobile data consumption indicates the disruptive effect of Reliance Jio on the Indian Internet and telecom market Government rules out top-up for telcos, but ready to lend them a helping hand DoT officials are trying to understand the financial troubles of telcos before formal meetings of the inter-ministerial group set up by the cabinet secretary begin on June 12 SBI: SBI chairperson rings the alarm on telecom sector debt, fears defaults Chairman moots 6-point action plan How Reliance Jio ended incumbents' unchallenged reign to reshape India's telecom sector Reliance Jio's entry triggered an aggressive price war in the Indian telecom industry, which immensely benefited consumers across the country. Airtel gets SEBI, stock exchanges nod for Telenor India acquisition Bharti Airtel said on Thursday that it has received approvals from the capital markets regulator Securities and Exchange Board of India, and from the stock exchanges BSE and NSE, for its proposed merger with rival Telenor India. Average cost of equity for Indian telecom sector reduces to 14% in 2017: EY Report Another finding specific to the telecom sector points out that about half the respondents apply additional premium when estimating discount rate for p.. India's monthly wireless data usage rose to 1.3 bn GB in March, courtesy Reliance Jio The report said that bandwidth intensive application such as music and video streaming also saw a dramtic growth following the launch of Reliance Jio .. Rupee, Credit profile of steel, infrastructure telecom to impact India Inc in FY18 Due to their low in ability of refinancing credit, sectors like telecom, steel and infrastructure will remain under-pressure even in FY18. Rupee appreciation will be another factor that will haunt steel and infrastructure sector. GST: Consumer goods firms allay retailers' fears Retailers and distributors (channel partners) fear they may incur losses while selling the old stock lying with them after the GST roll out from 1 July, says KPMG India’s Sachin Menon FMCG companies may stagger output as distributors unload stocks Even as trade channels and distributors look to avoid tax payout disparity ahead of GST rollout on July 1, some companies are giving out higher commissions to push stocks. New rules for packaged commodities sold through e-commerce platforms E-commerce platforms and the vendors who sell on them will soon have to mandatorily declare the minimum retail price, net quantity and grievance redressal procedure on all packaged goods, as the Centre is planning to amend the Legal Metrology 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