Firms have to adhere to strict compliance requirements mandated by global parents
Telecoms investor Aditya Birla Nuvo Ltd and retailer Future Group were among the first big names to apply for licenses to run so-called payments banks
On the heels of Reliance Industries foraying into the lucrative retail business, Birla Group too contemplates rolling out its organised retail initiative.
Nikhil Anand, senior vice president, operations, at NLB Services explains why professionals who are adept at data, cloud computing and cybersecurity will earn well in 2024.
RBI's exercise will take into account standards of governance, the viability of the payment bank (PB) business model, and changes, if any, if needed.
Executives in the segment say some top European, Japanese and Korean retailers are seriously interested.
Sky-high rentals are forcing retailers to explore new ways to stay afloat. Many have done the obvious thing by shifting to cheaper locations or simply downing their shutters. But others are renegotiating deals with developers to ensure business sustainability. New deals like longer "rent-free" periods, no "lock-in" clauses in agreements and revenue-sharing deals with developers are becoming common.
Indian retailers put cash & carry on backburner
Raghu Pillai, former director and CEO (operations, strategy and business development) of Reliance Retail, today took over as the chief executive of Kishore Biyani's Future Value Retail. An industry veteran, Pillai talks about his new role with Business Standard.
Future Media, the media company of Kishore Biyani's Future group, announced the acquisition of on-screen media rights of all Inox Leisure multiplexes in the country for the next two and half years.
The retail king is back to what he does best: Expand. Future Group chairman Kishore Biyani is planning to add two Big Bazaar stores every month and open 15 hypermarkets over the next six months.
As part of an overall strategy of improving food management to reduce inflationary pressure, the food ministry has written to Prime Minister Manmohan Singh to incentivise organised retail trade in the farm sector.
Sales grew only 5-10% last year on weak consumer sentiments
Still, the earliest India will get to experience Apple online will be early 2020 and the company's first fully-owned signature store should be up around 2022 -- almost two decades after it had opened its first store worldwide, writes Nivedita Mookerji.
While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
Sellers, especially the smaller ones, are planning to go to court as well as move CCI as they fear that Walmart could bring multiple private labels in India and flood the e-commerce platform with its own products.
India 's threat to impose a blanket ban on agricultural commodities futures trading would not ease food prices, analysts, traders and food executives warned, describing the measure as political posturing.
The blast at The Rameshwaram Caf has caused distress and concern among the startup and information technology (IT) community, raising questions related to safety and security. Approximately 10 people were reportedly injured in a low-intensity bomb blast at The Rameshwaram Caf, a popular restaurant in Bengaluru's Brookfield. The surrounding area is a major hub for the Indian technology (tech) industry, housing many startups and top IT companies such as IBM, SAP, Accenture, International Tech Park Bangalore, and Prestige Technostar.
The threat may be a decade away, but it has brick-and-mortar sellers rethinking their strategies and banking on the govt to regulate online companies.
Logistics and delivery firm Dunzo plans to settle dues of former employees in next three months while it is regularising salary for its current employees, sources said. The firm backed by Reliance Retail and Google said that while its co-founder Davlir Suri has decided to leave the company, another co-founder Mukund Jha will continue be part of the strategic leadership team. "In June salary of 85 per cent employees were paid.
'More than investors, fund houses, and advisors have raised caution and limited flows on small-and mid-caps.'
Reliance Retail has tied up with Microsoft to launch the concept of connected homes.
The issue will carry a small price band to make it affordable to the retail investor. The company will issue 3,736.15 million shares.
Don't expect the synthetic stones to surpass natural ones anytime soon because the world's biggest miners of diamonds aren't looking to get into man-made diamonds.
The tables have turned. Organised retail, which used to cite real estate as its first constraint, is being wooed by developers as there is a sudden surplus created by completion of pending projects and new construction. According to an industry analyst, the rental for a retailer used to constitute 4-5 per cent of its total revenue in the years 2001 and 2002, rising to 7-7.5 per cent in the later years. Industry analysts believe a retailer's profit would get eroded
The facility is now available at 258 Big Bazaar and fbb stores in over 115 cities and towns across the country
Retail investors usually get caught up in the frenzy of a bull market and burn their fingers in IPOs, warns Tinesh Bhasin.
Retail chains may be struggling in the face of the economic slowdown, but Kishore Biyani's Future Group seems to be buoyant in the New Year, expecting to do well in the quarter ending March 2009.
In Nov last year, L&T Finance Holdings had told BSE it was not eligible to be the sponsor of an insurance business, as it was a subsidiary of L&T under the Irda norms
Enthused by its success in retail, the Kishore Biyani-led $2 billion Future Group will soon foray into the logistics business, investing more than Rs 400 crore (Rs 4 billion) by 2010.
R C Agarwal, promoter of beleaguered Vishal Retail, on Wednesday came out in support of the offer from Texas Pacific Group (TPG) in preference to that from Kishore Biyani's Future Group.
Even as the traders and merchants in Kerala observed a hartal against the entry of multinationals in retail sector on Wednesday, pepper Futures market also witnessed major upheavals.
Global trends, trading activity of foreign investors and movement of oil benchmark Brent crude would dictate terms in the domestic markets this week, analysts said. Equity markets, which fell nearly 3 per cent last week, may face volatile trends amid the monthly derivatives expiry on Thursday. "This week marks the September month Futures and Options (F&O) expiry, which is expected to bring about volatility in the market," said Santosh Meena, Head of Research, Swastika Investmart Ltd.
Kishore Biyani-promoted Future group's venture capital arm, Future Ventures, has revived its plans to hit the capital market and will be initiating listing formalities by filing a prospectus with market regulator Sebi on Wednesday.
Future Consumer Enterprise Ltd, the food and FMCG arm of Kishore Biyani-led Future Group, on Friday acquired south India-based convenience store chain Nilgiris for nearly Rs 300 crore (Rs 3 billion).
The home loan top-up, a kind of secured multipurpose personal loan, is on the regulator's radar, points out Tamal Bandyopadhyay.
Per capita income in India is increasing, including in tier-II and tier-III cites. In these cities the competition is less, as are the rentals. It is very viable as a business proposition to open showrooms in these cites.
The Reserve Bank on Friday retained the inflation forecast for 2023-24 at 5.4 per cent, and vowed to take timely measures to prevent any spillovers of global food and fuel price shocks. Stressing that the Reserve Bank has identified high inflation as a major risk to macroeconomic stability and sustainable growth, Governor Shaktikanta Das said the September retail inflation number may be lower than August and July prints. The headline inflation based on Consumer Price Index (CPI) moderated to 4.6 per cent in first quarter of 2023-24 as compared to 7.3 per cent in the same period a year ago.
Online biggies and global retail giants are working on being omnipresent in both the virtual and the real world to see what helps them get the numbers, says Karan Choudhury.
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