Call centres, once the engine room of India's BPO exports, are evolving too. Depending on the complexity, 30 to 50 per cent of voice and chat volumes are now handled by conversational AI.
The Reserve Bank of India (RBI) has issued a restricted banking licence to American Express Bank (Amex) to conduct credit card and travel-related businesses in India.
Riding high on the 40 per cent growth in its cards business, American Express is now eyeing telecom sector, super markets and lifestyle stores for its co-branded cards.
The Reserve Bank of India has on Wednesday lifted the ban on new customer acquisition by American Express which was imposed with effect from May 2021 due to non-compliance with local data storage norms. "In view of the satisfactory compliance demonstrated by American Express Banking Corp. with the Reserve Bank of India (RBI) circular dated April 6, 2018, on Storage of Payment System Data, the restrictions imposed, vide order dated April 23, 2021, on onboarding of new domestic customers have been lifted with immediate effect," RBI said. Similar bans were imposed on Diners Club International and Mastercard previously.
The Reserve Bank has restricted American Express Banking Corp and Diners Club International Ltd from on-boarding new domestic customers onto their card networks from May 1 for violating data storage norms. The order will not impact the existing customers of these two entities, the central bank said in a statement on Friday.
In a recently published report the New York Daily News said that mega American companies like Microsoft Corp, General Electric and American Express are moving thousands of customer service call-centre jobs to India.\n\n\n\n
HDFC Bank on Friday announced a marketing alliance with American Express enabling the former to offer American Express Travellers cheques to consumers at over 160 of its branches across 70 cities.
The five biggest spenders in 2018 were the United States, China, Saudi Arabia, India and France, which together accounted for 60 per cent of global military spending, it said.
The Indian market is very competitive because you have existing foreign banks, private banks, new foreign banks and public sector banks, says Mike DeNoma, executive director, StanChart.
Foreigners and NRIs would now be able to book train tickets in India online by using international debit and credit cards through IRCTC website.
RuPay has 42% of total debit cards, but contributes only 16% of PoS, e-commerce transactions. With banks scheduled to renew deals with Visa, Mastercard, here's how RuPay plans to increase its reach to premium customers.
A friendly working environment, special healthcare facilities, flexible work hours, work from home options, support and camaraderie among the team members keep employees highly motivated in these 10 companies.
Never be afraid to take decisions because you fear making mistakes. Mistakes are good, says Anu Prasad.
