Digitisation is changing the banking business. This shift has resulted in a change in banking job profiles.
With the Adanis submitting an earnest money deposit (EMD) of just Rs 100 crore on Monday for the upcoming 5G spectrum auction, the apprehension among the rivals that the group is nursing ambitions of being an all-India mobile player has been allayed at least for now. Based on its EMD, analysts say it can buy spectrum worth just Rs 900 crore, whose use will be limited to enterprises and captive networks -- that too is likely only in a few circles where it has its infrastructure like ports, airports, and power stations. While getting all-India millimetre band spectrum of 400 MHz (which costs Rs 2,800 crore) is ruled out, it might choose circles like Gujarat and Mumbai to start with.
Because they have become too big and pervasive and the time to regulate is long gone, points out Debashis Basu.
Bajaj Finserv has few opportunities and challenges to overcome in 2015.
The Reserve Bank on Wednesday said the amalgamation of Lakshmi Vilas Bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The RBI issued the statement within hours of the Cabinet clearing the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL).
India will have 1 billion smartphone users by 2026 with rural areas driving the sale of internet-enabled phones, a Deloitte study said on Tuesday. India had 1.2 billion mobile subscribers in 2021, of which about 750 million are smartphone users. It is poised to be the second-largest smartphone manufacturer in the next five years. "The smartphone market is expected to reach 1 billion smartphone users by 2026," according to Deloitte's 2022 Global TMT (Technology, Media and Entertainment, Telecom) predictions.
Audi's strategy seems to point to pushing technology to directly connect with consumers using digital platforms and marketing to synchromesh into one seamless experience, says Pavan Lall.
Revenue from service tax, which has become a new focus area for Finance Ministry, has grown up substantially by over 300 times in past about two decades.
Amid the ongoing festival season in the country, the hiring of gig workers has zoomed across sectors as the businesses have begun opening up leading to an uptick in consumer sentiments and rising pent-up demand, according to experts. "In the third quarter, with the onset of festive season, we are witnessing a 400 per cent spike in the hiring for gig workers. Earlier, in the first quarter of this year, as many businesses and companies were not operating at full strength, growth was muted. "However, things began picking up and became more promising from the second quarter, as the demand for gig workers across sectors grew," Taskmo, a subsidiary of Quess Corp, co-founder Prashant Janadri told PTI.
IT major Wipro on Thursday reported a 35.6 per cent jump in consolidated net profit to Rs 3,242.6 crore for the June 2021 quarter. Wipro had registered a net profit (attributable to equity holders) of Rs 2,390.4 crore in the year-ago period, as per Indian Accounting Standards (Ind-AS). Its revenue from operations increased by 22.3 per cent to Rs 18,252.4 crore in the reported quarter from Rs 14,913.1 crore in the same period last fiscal, Wipro said in a regulatory filing.
The company plans to leverage its tie-up with NTT DoComo to offer many value-added services.
'We look forward to providing great customer experiences in India.'
Swiggy is rapidly scaling up its technology (tech) teams as the food delivery giant is witnessing strong recovery and growth over the past few months. The SoftBank-backed company is hiring across engineering, product, design, analytics, and data science functions in the next two quarters. Building this team, Swiggy is setting up a new development centre in Gurugram. Its rival Zomato, which had a stellar debut on the Indian stock exchanges in July, is also headquartered in Gurugram.
A company not only requires ample funds to get it started but also the necessary intellectual and emotional tools to make it a success.
'But we are much better than what we all had expected and planned, and what all the prophets of doom had predicted.'
Once stability returns to the secondary market, companies that have obtained approval from Sebi will start tapping the market.
In India, the company serves customers such as stock exchanges, brokers, non-banking financial companies, financial services and insurance, IT and IT-enabled services.
The free trade agreement (FTA) talks with India are no longer working towards a Diwali deadline though negotiations are progressing well, UK Trade Secretary Kemi Badenoch has said as New Delhi expressed confidence on Friday of an "early date" for a mutually beneficial deal. "There are ongoing negotiations as we know on the FTA. There is interest on both sides to see if we can work towards a deal, an FTA, that is beneficial to both the countries at an early date," external affairs ministry spokesperson Arindam Bagchi told reporters in New Delhi. It came as External Affairs Minister S Jaishankar spoke to his UK counterpart, James Cleverly, and referenced the Roadmap 2030 bilateral agreement signed between Prime Minister Narendra Modi and former UK PM Boris Johnson in May last year, with no specific reference to the FTA.
Home-grown auto major Mahindra and Mahindra on Monday unveiled a new visual identity, including a brand-new logo, exclusively for its SUV portfolio, ahead of the launch of its much awaited SUV, XUV700. The new brand identity is in tune with the company's focus to be makers of sophisticated and authentic SUVs. It heralds the strategic shift across Mahindra's SUV portfolio, where we are putting the building blocks in place for a new world with a range of authentic SUVs, the company said in a release.
Named "HomoSEP", ten units are planned to be deployed across Tamil Nadu and the researchers are in touch with sanitation workers to identify the locations, officials said.
ITC Ltd on Friday reported a 23.09 per cent increase in consolidated net profit at Rs 5,070.09 crore for the third quarter ended December 2022, helped by growth momentum across its operating segments. The diversified company had posted a net profit of Rs 4,118.80 crore during the October-December quarter of the previous fiscal, ITC said in a regulatory filing. Its revenue from operations was up 3.56 per cent to Rs 19,020.65 crore during the quarter under review, as against Rs 18,365.80 crore in the corresponding period of the previous fiscal.
Mukesh Ambani-led Reliance Jio has introduced a 20-per cent cashback offer on select prepaid plans, intensifying competition in the Indian telecommunications (telecom) market. Jio is the largest telecom service provider in India, with 443 million subscribers as of July. Jio's cashback offer will drive cross-selling across Reliance's various retail businesses, but the move is also being seen by some analysts as a signal that tariff hikes may not be around the corner just yet.
'We revolutionised the system in a manner so that the chances of leakage will be much lower than it was in the beginning.'
Reliance Retail has bought a 25.8 per cent stake in Dunzo, India's leading quick commerce player, for $200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. Dunzo has raised $240 million (about Rs 1,787 crore) in its latest funding round that was led by Reliance Retail Ventures Ltd (RRVL) - the retail arm of Reliance Industries, the two firms said in a statement. Existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital also participated in the funding round.
China's covid crisis could provoke a raw material crunch for India's EV industry later this year.
The telecom sector is in the midst of another major shift as voice gives way to data.
Businesses of various scales can improve productivity and affordability of their products and services by building tech intensity, Microsoft CEO Satya Nadella has said. Nadella noted that organisations globally are undergoing digital transformation amid the COVID pandemic, and that trends like hybrid work, hyperconnected business and multi-cloud environments require "a boundaryless digital ecosystem where trust between different parties needs to be established in real-time". "Digital technology is a powerful deflationary force in an inflationary economy. Businesses - small and large - can improve their productivity as well as the affordability of their products and services by building tech intensity," he said.
Live commerce, quick commerce, group buying, WhatsApp commerce, dukaantech have made their mark.
'With Trump, the relationship was very transactional, whereas with President Biden it is very structured.'
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 22.5 per cent rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 16,203 crore in the quarter ended March 31, 2022 from Rs 13,227 crore, the firm said in a statement. Net profit, however, fell 12.6 per cent sequentially -- breaking a six-quarter chain of quarter-on-quarter improvement.
Bulk of these customers use 2G phones and are still focused on voice services and might prove useful for both Bharti Airtel and the Idea-Vodafone combine.
Trai data show the company has no subscribers in Uttar Pradesh East & West and Bihar
Auto major Fiat Chrysler Automobiles (FCA) on Wednesday said it will invest $150 million (around Rs 1,103 crore) to set up a global digital hub in Hyderabad to help the group develop new technologies to cater to its automotive operations across the globe. The facility, which is FCA's largest digital hub outside of North America, would create nearly 1,000 jobs by the end of next year.
Customers of MG's upcoming mid-size SUV will benefit from Jio's widespread internet outreach, along with the connectivity, not only in metros but also in small towns and rural areas, MG Motor said in a statement. "Technology and innovation are leading the connected car space in the automobile industry.
Banks now ride on what is defined as a "banking outlet". This is a fixed-point service unit, manned by either the bank's staff or its business correspondent (BC), where all kinds of services - acceptance of deposits, encashment of cheques, cash withdrawal or lending of money - are provided for a minimum of four hours per day, for at least five days a week. Banks are now turning to reposition the manner in which they acquire customers, report Abhijit Lele and Raghu Mohan.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 46 per cent jump in net profit for the three months ended June on the back of bumper earnings from oil and telecom businesses. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 17,955 crore during April-June period -- the first quarter of 2022-23 fiscal year -- from Rs 12,273 crore in the year-ago period, it said a stock exchange filing.
After a long wait, the Shapoorji Pallonji Group has closed the sale process of its consumer durables business under the Eureka Forbes label by picking the American private equity fund Advent International's Rs 4,400-crore offer for a 72 per cent stake. The sale process, which began in November 2019, will help the over 156-year-old SP Group pair the debt pile and sharpen the focus on the flagship construction and engineering business under Afcons. The valuation of Rs 4,400 crore for a 72.56 per cent stake is is at an enterprise level and subject to closing adjustments and also includes an open offer for the remaining stake after the demerger and listing of Eureka Forbes, the SP group said in a statement on Sunday.
India is today the second-largest telecom market in the world with over a billion customers and close to 600 million Internet users. New connections are available on the tap, calls are virtually free and it's hard to imagine anyone without a mobile phone today. Globally, there would be few parallels to this success story that truly democratised telephony and empowered a billion-plus people, observes Airtel's Sunil Bharti Mittal.
Hinduja Group's business process management entity, Hinduja Global Solutions Limited (HGS) said on Wednesday that it has entered into definitive agreements to divest its Healthcare Services business to funds affiliated with Baring Private Equity Asia (BPEA), at an enterprise value of $1.2 bilion. The deal is subject to closing adjustments, and is expected to complete within 90 days, subject to shareholder and other regulatory approvals. "The cash that will come in as a result of this transaction will be deployed to growing the business as well as looking at buying some capabilities...where capabilities are important for being able to do a good job of customer experience transformation.
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