Jun 19, 2017 - IDBI initiated insolvency proceeding against Lanco, first among 12 accounts identified by RBI

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Sree Vijaykumar From the Editor's Desk Most glowing opinion pieces on the acquisition of Whole Foods by Amazon (Forbes) don't hold water. There are much cheaper ways to get quick delivery (partnerships with stores, etc) than buying expensive Whole Foods locations. This is not a threat to Wal-mart as there is very little overlap between the customer bases of Whole Foods (high end) and Wal-mart (middle and lower income). However, grocery is a desirable retail category that Amazon has been trying to crack for a while. The market size is more than $600bn in the US alone (everyone needs food) and is fragmented (No grocer has more than 10% market-share other than Wal-mart, which itself controls only a fifth of grocery sales). Also, with its stock price at a low (with 2 years of declining sales), Whole Foods comes cheap (especially when bought with Amazon stock). At best, this is a relatively inexpensive "offline retail" experiment that will enable Amazon to scale its "technology in the physical environment" efforts, while gaining access to a running grocery business with great brand recall. Some downsides in this article titled 'The one glaring problem with the whole Amazon-Whole Foods deal' 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). IDBI initiated insolvency proceeding against Lanco, first among 12 accounts identified by RBI Other accounts that are being doing rounds but could not be independently include IVRCL, Era Group, Prayagraj Power, Aban Holding, and ABG Shipyard. 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Clock is ticking on India's bad bank debts under bankruptcy laws In a bid to crack down on defaulters, an independent advisory committee commissioned by the Reserve Bank of India (RBI) has decided to refer 12 companies, who have been identified as the top defaulters, to the insolvency and bankruptcy proceedings. These 12 companies account for over 25% of the gross non-performing assets that is present in the Indian banking system. Corp NBFCs look to steer lending boom Mumbai: India's top business conglomerates and billionaire industrialists are revving up a lending boom through non-banking finance companies (NBFCs) even as public sector banks hit a pause. General Atlantic in talks to buy 74 per cent stake in Karvy Computershare Computershare, which owns half the company, will sell its entire stake while Indian partner and Karvy Group owner C Parthasarathy will sell around 24%. 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Foreign investors stay glued to Indian market; invest $3.55 billion in June Foreign investors have pumped in a staggering $3.55 billion in the Indian capital market this month so far due to finalisation of GST rates for bulk of the items and forecast of a normal monsoon What Indian farmers really need: A total overhaul of fundamental economics of agriculture More than subsidies, loan waivers and minimum support prices, Indian farmers actually need the fundamental economics of agriculture to be fixed. RBI initiates Prompt Corrective Action against Bank of Maharashtra as NPA mounts For the year ended March 2017, the net non-performing assets (NPAs) of the bank rose to 11.76 per cent, while return on assets declined to (-) 1.09 per cent. Tata Sons to buy Tata Steel stake in Tata Motors on or after 23 June Tata Sons will buy about 83.6 million shares in Tata Motors at or around the prevailing price of the stock on the date of the planned acquisition SBI cautious in India but looking to increase corporate lending in Europe SBI Frankfurt is looking at around 20-25 per cent growth in business over the next years No Aadhaar, no banking and threat to privacy: Do you have a choice? The Centre has made it mandatory for all existing bank account holders to provide their Aadhaar numbers to their banks by December 31, 2017. If they fail, the account will no longer be operational, says a notification from the revenue department. Providing Aadhaar has also been made mandatory for anyone opening a bank account. The biometric identity numbers are issued by the Unique Identification Authority of India (UIDAI). The notification issued amends the Prevention of Money- laundering (Maintenance of Records) Rules, 2005. PSU banks fare poorly on customer service levels RBL Bank, Standard Chartered Bank, Yes Bank, Citibank and HSBC have emerged as the top five in terms of overall score. Digital economy can reach $4 trillion in 4 years: Tech sector to government The government has projected that Indian digital economy will become USD 1 trillion by 2022 from around USD 450 billion digital economy at present. Reliance Jio Prime Membership Adoption at 90 Percent Among Those Using Jio as Primary SIM: Report BoFAML conducted a survey of around 1,000 users mid-June who were using Reliance Jio as their primary SIM. More BMW models are coming to India; car maker to invest another Rs 130 cr The company will launch new version of its locally manufactured 5 Series later this month and 6 Series Gran Turismo (GT) model next year to strengthen its product portfolio in India. GST rollout from June 30 midnight, announces Arun Jaitley. What you must know Hotel rooms costing Rs 2,500-Rs 7,500 will be taxed at 18% while those above Rs 7,500 will attract levy of 28%, the government said on Sunday, finalising June Amazon: Everything From A To Z Now Includes Whole Foods Many were surprised when Amazon recently announced its purchase of Whole Foods for $13.7 billion. Those that love Amazon applauded the move while those t... Amazon Has Patented A Tool To Block The Kind Of Price Amazon's patent describes a system to redirect search traffic when customers look for a better price. Russian oil major Rosneft to tap Indian retail fuel market: Pradhan Hindustan Times Hindustan TimesThe Russian oil major who took over Essar Oil recently is planning in a big way to make inroads into India's retail fuel market, Pradhan told reporters after attending the City Gas Distribution (CGD) project to supply piped natural gas (PNG) to ... articles » When big retail chains close stores, it can be a blow or a blessing for ... When big retail chains close stores, it can be a blow or a blessing for small businesses. Sudhin Mathur of Motorola Mobility says Indian mobile brands are now vanishing A veteran in the Indian mobile phone industry, Motorola Mobility India managing director Sudhin Mathur says that he has always seen stiff competition in the marketplace. Telecom department says stress in sector, expects lower revenue collection DoT had earlier projected a FY18 revenue target of Rs 46,351 crore Telecom sector woes on AGR: Govt awaits 'favourable' SC verdict Telecom companies with a licence need to pay about 8 per cent of their total revenue to government India Inc prepared for GST rollout from July 1: CII July 1 launch on; return timelines extended for July and August Mobile data consumption risen to 142% per subscriber in India in last 3 years: NITI Aayog In India, mobile data consumption per subscriber has risen by 142 per cent in the last three years, CEO of NITI Aayog Amitabh Kant told on Saturday.. 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Amazon to buy Whole Foods for $13.7 billion, wielding online might in brick-and-mortar world WHOLE-FOODS-M-A-AMAZON:Amazon to buy Whole Foods for $13.7 billion, wielding online might in brick-and-mortar world With Whole Foods, Amazon on collision course with Wal-Mart Find the latest Retail Insight, News & Articles from all top sources for the Indian Retail industry on ET Retail. Why Flipkart has to worry about a lot more than Amazon buying BigBasket Across ecommerce, cloud services and entertainment, Amazon already has a broader ecosystem, and its Whole Foods play shows it is willing to audaciously go offline. 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