Feb 24, 2017 - Demonetisation has boosted banks and start-ups, but it's still a failure

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Sree Vijaykumar From the Editor's Desk People believe that they know way more than they actually do. What allows us to persist in this belief is other people. In the case of my toilet, someone else designed it so that I can operate it easily. This is something humans are very good at. We've been relying on one another's expertise ever since we figured out how to hunt together, which was probably a key development in our evolutionary history. So well do we collaborate, that we can hardly tell where our own understanding ends and others' begins. More here. Advertisers of the day The Economist: Subscribe now and get a Hidesign passport wallet free Ingram Micro Cloud: Streamline your creative process and secure your digital assets with Dropbox Business   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). Demonetisation has boosted banks and start-ups, but it's still a failure The government said its demonetisation drive would curb India's shadow economy 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. Tesla capital raise seen near as Musk burns through cash Tesla burned through cash in the fourth quarter and expects to spend as much as $2.5 billion in the first half of the year before fielding its first mass-market car We have not been approached by anyone: Shikha Sharma CEO, Axis Bank "We have not been approached by anyone, so I don't know where all these stories are coming from. There is absolutely no truth to this," she says. Snapdeal setbacks are pragmatic response to a bumpy start-up boom Snapdeal job cuts deserve just as much attention, because there’s little good in hiring a whole lot of people before firing many of them Five associate banks will merge with SBI from April 1 State Bank of India will merge five of its associate banks with itself from April 2017. In June 2016, the Cabinet approved the merger of State Bank of India (SBI) and five of its... Govt looks to get state-run insurance companies ready for listing Finance ministry will help insurance firms in improving their solvency ratios beyond 1.5—a key requirement to get Irdai’s approval for listing Heritage conservation yet to find favour with firms for CSR spend When central or state governments spend money on heritage conservation, their focus is on tourism, experts say Varun Beverages raises stake in Zambia subsidiary Pepsi bottler Varun Beverages chairman Ravi Jaipuria says stake increase in the Zambian arm is in line with the company’s emerging markets strategy The GST: so far so good, but not good enough The proposal departs from the expert view that an ideal GST should have a few exempted commodities and a single rate for all commodities Private equity firms look to new divestment options to make up for lack of exits PE executives at the first Mint Private Equity Conclave emphasize that successful exits are of paramount concern to limited partners NPAs are a huge, dark cloud over India's financial system and the entire economy On Monday, February 20, the heads of 10 top public sector banks (PSBs), led by Arundhati Bhattacharya, chief of India’s largest lender, State Bank of India (SBI), met finance minister Arun Jaitley. The official reason... IDBI Bank set to get Rs 3000 crore bail out package from government There are projections that in the last quarter of this fiscal there will be a jump in bad loans for IDBI. The amount allocated will help maintain stability, said a senior finance ministry official. ICICI Bank buys 814.4 million shares of Jaiprakash Power Ventures ICICI Bank says it has acquired 814.4 million shares of Jaiprakash Power Ventures under the strategic debt restructuring (SDR) plan by its lenders Infosys seeks shareholders’ nod to amend articles of association Infosys has been under pressure from investors to go for a share buyback or a generous dividend Sebi revamps grievance redressal tool at bourses, depositories The decision to revamp the grievance redressal mechanism at stock exchanges and depositories has been taken in consultation with all the stakeholders. VCs anticipate challenges in a still-maturing India market At a panel discussion at the ‘Mint India Private Equity Conclave 2017’, the heads of India’s largest venture funds spoke of the challenges of guiding portfolio firms through their life cycle SoftBank denies interest in picking up stake in Vodafone-Idea merger Bank called media reports alleging such interest 'baseless' and 'substantiated' DMart listing re-rates the retail sector DMart's upcoming listing has resulted in a sharp rally in the stock prices of its rivals. Once it lists, the market will go back to assessing each company on its performance Devices like Siri, Amazon Echo could be recording conversations WPXI Pittsburgh WPXI PittsburghAmazon Echo, Amazon Dot, Google Home and iPhone's Siri are among the new devices and technologies that offer convenience in our everyday lives. But the advances in technology have raised questions about when those devices are recording, and who ...sp; Narendra Modi-Indra Nooyi meet won't be just about colas Nooyi, the sole Indian-American in President Donald Trumps policy forum, is scheduled to visit India in the first week of March as part of business reviews. 500 liquor shops to be shut in Tamil Nadu from Friday Hindustan Times Hindustan TimesSoon after he assumed office on February 20 after winning the trust vote on February 18, chief minister Edappadi K Palaniswami issued various orders, including for the closing of 500 more Indian made foreign liquor outlets of the total 6,300 in the state.articles » Paper Boat to sail deeper into dairy-based beverages, ethnic snacks this summer The beverages group will tap into thandai in North, spiced buttermilk in South PE fund Emerging India buys majority stake in Mumbai-based travel firm Plans to start consumer-facing travel business under a new brand, Goomo HP to open 250 outlets this year to expand its reach in India The company has also announced its foray into gaming section in India with the launch of OMEN series of products. No-cash deal: Airtel to buy Telenor's India biz; to boost 4G spectrum portfolio Airtel will take on Telenor's spectrum liabilities worth `1,600 cr, payable in instalments till 2026. Fitch retains negative outlook for telecom business The fierce competition to retain and increase market share along with rising capex would put pressure on most operators. Demonetisation impact: Amazon India cuts down on mobile phone Premium Sellers The online shopping giant, had trimmed down the discounts it offered on its mobile phones by 6-10 percent after the cash ban, as mobile phone sales slipped by 60 percent... Freebies from Reliance Jio hasten Indian mobile consolidation India’s largest operator, Bharti Airtel, is to acquire the Indian mobile business of Norwegian carrier Telenor, in an apparent move to counter the impact of disruptive pricing by new entrant Reliance Jio Infocomm. Vodafone offers mobile recharge without disclosing your phone number Vodafone Private Recharge Mode (PRM), a free of cost service for West Bengal subscribers, enables users to recharge their mobile phones, without sharing their mobile numbers with retailers. Mukesh Ambani's Phone Pricing Helps Reliance Regain No. 2 India Ranking Reliance Industries shares surged 11 per cent at the close on Wednesday, valuing the company at Rs 3.92 lakh crore The Seemingly Immovable Object Standing in the Way of India's Satellite Internet Ambitions Existing satellite capacity can be used for Digital India if the DoT can bypass DoS and ISRO to negotiate with private operators – but is this possible? Skype Lite app announced just for India: Here's all you need to know Microsoft CEO Satya Nadella announced Skype Lite application designed for Indian mobile users Pepsico to focus on people, product, planet To deliver ‘transformation products’ Urban Ladder hopes to turn the table on mounting losses with offline format Opens a shop-in-shop in Bengaluru Rasna forays into baked sweet snack category The company eyes a turnover turnover of Rs 250 crore in the next three years from this segment Aggressive on herbal business growth, Baidyanath eyes acquisitions in India, US Baidyanath is eyeing to grow its herbal business aggressively in the US through both organic and inorganic routes. Varun Beverages hikes stake in Zambia subsidiary to 90% Varun Beverages has increased its stake in its Zambia subsidiary, Varun Beverages (Zambia) Ltd, to 90 per cent from 60 per cent. White Page International releases most admired brands and leaders 2016-17 White Page International recently released the research and jury based listing of India's Most Admired Brands and Leaders 2016-17 with PwC as Process Reviewers. Japan govt lowers assessment of consumer spending JAPAN-ECONOMY/REPORT (URGENT):Japan govt lowers assessment of consumer spending Wipro set to take on HUL and P G The consumer goods arm of Wipro Enterprises, which sells soaps, baby care and lighting products, has identified China, the Middle East and Malaysia as some of its key strategic markets. Amid layoffs, Snapdeal founders admit to wrong decisions As online marketplace Snapdeal started laying off employees on Wednesday, the company’s co-founders Kunal Bahl and Rohit Bansal sent out an email to anxious staff, admitting they took several wrong decisions over the past two-three years amid a funding frenzy and that it was time to course-correct. 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Feb 23, 2017 - Is it time for RBI to go for a rate hike?

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Sree Vijaykumar From the Editor's Desk China has overtaken the United States to become the world leader in deep learning research, a branch of artificial intelligence (AI) inspired by the human brain. Deep learning algorithms are modeled on biological neural networks and enable machines to learn and mimic human-like responses. They're rapidly becoming part of everyday life. Think: smartphone assistants answering your questions, or Amazon recommending products based on your search and purchasing history. The White House has released two reports that aim to help prepare the US for the growing role of artificial intelligence in society. The National Artificial Intelligence Research and Development Strategic Plan lays out the strategy for AI funding and development in the US. It shows that since mid-2013 China has been contributing more journal articles to the field of deep learning research and has more studies cited by other researchers than the US. Interesting! More here. Advertisers of the day The Economist: Subscribe now and get a Hidesign passport wallet free Ingram Micro Cloud: Streamline your creative process and secure your digital assets with Dropbox Business   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). Is it time for RBI to go for a rate hike? The ingredients are all there—a stubborn inflation, likely US Fed interest rate hike, rising commodity prices. But will RBI’s monetary policy committee take the plunge? 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. How Flipkart got back in the game Sceptics had not long ago written off Flipkart but under Kalyan Krishnamurthy, it has clawed its way back and is now looking at a $1.5 billion fundraising Banking data leads taxmen to corrupt officers Banking data gathered post demonetization is being used to launch a crackdown on corrupt bureaucrats. In one such case, an income tax search was conducted on Tuesday on a forest service officer in Odisha who did not file his response to the information uploaded by the department on its website, where bank deposits in his accounts were shown to the tune of Rs 1.48 crore. NSE said to be redrafting its algorithmic trading policy NSE has also hired consulting firm EY to audit the systems that facilitate algorithmic trading for stockbrokers Reliance AIF to raise Rs1,000 crore fund The new fund—Reliance Yield Opportunity AIF Scheme 1—is targeting to raise Rs250 crore, with a greenshoe option of Rs750 crore Sheenlac Paints may buy out Jenson and Nicholson’s stake in JV Sheelnlac Paints CEO Sridhar Krishnamoorthy says may buy out Jenson and Nicholson stake once the joint venture scales revenue to Rs350 crore in 5 years Private equity firms spot big promise in logistics Foreign investors, including Chinese, Japanese and Korean, have shown a lot of interest in industrial development projects in the backdrop of implementation of the GST. Made large cash deposits? Brace for tough income tax scrutiny As part of Operation Clean Money, income tax department is seeking documents such as bank statements, passbooks, land records to track black money Indians don't have a private equity mindset, says Viswanatha Prasad If we go to an Indian HNI they assume it means lower returns for them Softbank looks to pick up stake in the proposed Vodafone-Idea combine Among other challenges for the merger are operational and management control of the merged entity, along with the outstanding tax matter of Vodafone, it noted. DHFL to raise Rs 1,500 crore via NCDs This is following a special resolution passed by the shareholders of the company at the 32nd Annual General Meeting held on July 20, 2016, it said SEBI allows MFs more room to invest in housing bonds While it aids Prime Minister Narendra Modis promise of “Housing for All” by 2022; this should help deepen the market for such debt securities. Vice said to hire banks to raise fund for scripted programmes Vice, which already produces a slew of unscripted programmes, plans to distribute shows in more than 80 countries by the end of this year Digitisation drive to lure venture capital funds in Fintech sector: KPMG According to KPMG, corporate interest in financial technology (fintech) is also expected to increase in India over the next year. Low penetration, regulatory push augur well for debt capital market: Icra Corporate debt grew at a CAGR of 12% during the above period from Rs 14.2 lakh crore as on March 31, 2011 to Rs 27.9 lakh crore as on December 31, 2016. Venture capital investments in India decline to $216 million in 2016: KPMG Venture capital investments in India witnessed a significant decline in 2016, with just $216 million in funding, compared to $1.6 billion in the previous year, says a KPMG International report. India needs to create 'bad bank' quickly: Arvind Subramanian SC asks industrial units to set up effluent treatment plants within 3 months Supreme Court also asked states to construct common effluent treatment plans in three years Urban Ladder looks at 'sustainable, profitable business' after logging 3x rise in revenues at Rs 56 cr Online furniture store Urban Ladder is looking at a topline growth of 60% in FY17 to reach Rs 90 crore. For the fiscal ended March 2016, the company had registered a three-fold rise in revenues at Rs 56 crore and a three-fold rise in losses at Rs 175 crore. Note ban effect: Amazon dials down on Platinum Sellers Cuts count of mobilephone Platinum Sellers by 70% as sales dip post demonetisation Midas touch: Retail stocks zoom, ride piggyback D-Mart's impending IPO D-Mart, promoted by R K Damani, has whipped up a frenzy in the grey market where its shares are quoting at 25-50 per cent premium to the expected IPO price. Amazon lowers free shipping minimum to match Wal-Mart Over Presidents Day weekend, Amazon quietly lowered to $35 from $49 the minimum spend required to get free shipping. Myntra to manage Mango in India; curate 25 retail stores This is the first time that an e-commerce player will manage the omni-channel strategy for a global fashion brand. Warehousing and retail realty catch PE firms' fancy Foreign investors have specifically shown a lot of interest in industrial development projects in the backdrop of implementation of Goods & Services Tax. Transforming the FMCG experience through augmented reality The channelized audiences can be presented with a surprising tangible experience, via Augmented Reality, making it an easy task to convert sales for a brand or marketer cutting across a plethora of competitive brands. H&M plans proper pay structures, worker committees in garment factories by 2018 The clothing firm was aware of the exploitation of workers in the garment industry and was working on several initiatives with its main suppliers to i.. India telecom operators to offer 8.9% salary increase in 2017: Aon Hewitt Indian telecommunication services providers are expected to offer 8.9 percent increase in annual salary in 2017, said Aon Hewitt India in the 21st edition of its annual Salary Increase Survey. The salary increase in Hi Tech/Information Technology will be 9.7 percent, while the salary increase in ITeS sector is expected to be 9.9 percent. Consumer … Telecom Commission to pull up TRAI for 'jeopardising' sectoral health A September 2008 order specifies that telcos must disclose details of promotional offers, which in any case shouldnt exceed 90 days. PM for accountability to improve telecom services New Delhi, Feb 22 () Clearly unhappy over poor telecom services, Prime Minister Narendra Modi today pressed for efficiency and accountability at all levels to bring about a visible change in the situation at the earlest. Satya Nadella showcases cloud, mobile technologies in India Microsoft CEO Satya Nadella today announced a Skype Lite application designed for Indian mobile users at the Future Decoded event. Telecom industry relieved that Jio will start charging: COAI Jio consumers, according to him, make more than 200 crore minutes of voice and video calls, and the telco has become largest mobile video networks glo.. India will embrace 5G technology very quickly: Aircel CTO Sameer Dave Dave said that at least 40% of the overall voice calls will be on VoLTE by 2020, but traditional voice service will continue to dominate in the Indian.. 5 things that will impact Indian telecom operators after Jio Indian telecom operators – Airtel, Idea Cellular, Vodafone, Reliance Communications and Tata Teleservices – are going to face challenging market conditions in the coming months due to special data and voice offers from Reliance Jio. All the telecom operators are already facing the heat. Bharti Airtel’s net profit fell 55 percent, while Idea Cellular posted loss … Indian telecom products and services should become the number one choice for ASEAN countries: Manoj Sinha (MENAFN - KNN India) New Delhi, Feb 21 (KNN) For ASEAN countries Indian telecom products and services should become the number one choice as they accelerate the digital connectivity initiatives, Flipkart launches 'smart fulfillment solutions' in Bengaluru, Delhi, Hyderabad, eyes quicker delivery turnaround In an attempt to further its turnaround time in deliveries, home grown e-commerce major Flipkart is expanding the initiative of providing its in-house built warehouse technology solution for sellers to more locations in the country. Jharkhand govt approves retail sale of liquor Liquor shop owners, whose licences were to lapse on March 31, have been allowed a four-month extension. Average increments across India Inc likely to be 9.5%, a drop from 10.3% last year: Aon Hewitt While its a marginal decrease from the 2016 spends, it show that India Inc. has held its own amidst global and Indian economic and political events. BREAKINGVIEWS-Unilever may be tempted by artificial sweeteners Shares of Unilever (UN and UL) are up 3.8% today after it said it could sell businesses as it reviews costs and profitability.Shortly after rejecting a $143 takeover bid from Kraft Heinz (KHC), Unilever said Wednesday it would conduct a "comprehensive" review to "capture value. READ MORE>> Cash ban affected only 1% of revenue of consumer cos: Anand Rathi Those with greater exposure to wholesale channels, rural markets and Northern and Eastern India were the more hurt, it said. Rice basmati softens on tepid demand In a restricted activity, rice basmati prices fell by Rs 100 per quintal at the wholesale grains market today due to subdued demand against sufficient stocks position. However, other grains remained steady in thin trade. Traders attributed the When will Godrej Agrovet go public? Godrej Agrovet’s business verticals include agri-inputs, animal feeds, oil palm manufacturing, and consumer brands in dairy and poultry ChrysCapital to sell 14% in CavinKare Mumbai/Chennai: Personal care products company CavinKare is set to buy back 14% stake held by India's oldest private equity house, Kunal Shroff-led ChrysCapital, for around Rs 500 crore, people directly aware of the matter said. Five key focus areas for Tata Sons' new boss, N Chandrasekaran As N Chandrasekaran takes over the reins of the Tata group on Tuesday, his immediate task will be to manage perceptions and mitigate business challenges, while identifying new areas of growth for the conglomerate Myntra to foray into offline retail segment with Mango brand The ecommerce major had earlier unsuccessfully tried to acquire the store network of US brand Forever 21, which it lost to Aditya Birla group. Snapdeal cuts workforce as India's ecommerce market becomes unforgiving Payments unit Freecharge's CEO Govind Rajan has also quit, while the online marketplace aims to become more focused on becoming profitable 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