Mobile payments alone gathered close to $1.51 billion in the year 2017 through 13 rounds of funding, according to data compiled by Tracxn
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
HDFC Bank on Monday said it aims to regain the two per cent market share in the credit card market it ceded to rivals during a recent ban, within a year by aggressively tapping into its existing depositor base. The bank will also focus on forging new partnerships to sell more cards and will not deviate from its conservative approach on taking credit risks as it goes aggressive in the market, its group head for payments and consumer finance, digital banking and IT, Parag Rao, told reporters. On August 17, RBI lifted the ban on HDFC Bank which had prevented it from issuing new credit cards from December 2020.
Indians waiting patiently in serpentine queues outside Mumbai banks tell Rediff.com's Syed Firdaus Ashraf they are ready to suffer for the larger good of the country.
Rahul said the poor, the labourers and the middle class are being sacrificed in the demonetisation 'yajna' for the benefit of the "super-rich families" of the nation.
'To all the MBAs that burn the candle at both ends, travel half-a-million miles every year, and spend little or no quality time with their families, the rise to riches of Mr Bikhchandani and Mr Banga, should be true inspiration,' notes Sandeep Goyal.
The ban in India would hit Chinese internet companies that were making headway in the world's fastest-growing mobile market.
While most others have not been able to replicate the WeChat model successfully, experts expect Jio to be able to score on its 300 million plus new mobile phone users.
Experts believe that the sector should not jump to conclusions on WhatsApp Pay, which is still in its 'Beta testing' phase.
Every competitor is eyeing the top slot that Flipkart holds.
Your next ride via the Ola app in an auto rickshaw could be cashless.
Analysts say consumers would be the real winners.
Fresh capital raised by companies by way of initial public offerings (IPOs) is set to hit a 14-year high, thanks mainly to Zomato's maiden offering. India Inc has raised about Rs 19,300 crore in fresh capital by maiden offerings, including the Rs 9,000 crore the food delivery company will raise this week, so far in 2021. The best year in terms of fresh fund-raise was 2007, when companies had raised Rs 32,102 crore. With Paytm planning to issue fresh shares worth Rs 12,000 crore, the domestic market looks set to surpass that tally this year.
IPO-bound mobility platform Ola, said it has successfully raised $500 million via a Term Loan B (TLB) from marquee international institutional investors. This term loan has no impact on the valuation of Bhavish Aggarwal-led Ola. The Bengaluru-based firm recently raised $139 million. This is part of a $1 billion funding round for which the company is in talks with investors, increasing its valuation to about $7.5 billion, according to the sources.
Demonetisation and changes in buying patterns of consumers help in pushing online sales.
Tata Motors, Maruti, Tata Steel, Vedanta, Bajaj Auto, IndusInd Bank, SBI, Hero MotoCorp, M&M, Asian Paints, Axis Bank, RIL and L&T too jumped up to 10.21 per cent.
Calls for boycotting Chinese products have intensified after 20 Indian soldiers were killed in the Galwan Valley clash on June 15. The Chinese have so far refused to share details of the casualties they suffered.
While mobile wallets are still busy exploring the multiple facets of interoperability, experts believe that bringing in new customers would be costly affair and the numbers of new wallet users might not see a major hike anytime soon.
FinMin had, recently, notified changes in FDI rules that made prior approval of the government mandatory for foreign investments from countries that share a land border with India. Hong Kong was ranked 14th on the list of countries with FDI flows to India, contributing $4.2 billion between April 2000 and December 2019, the data from DPIIT shows. India received FDI worth $2.34 billion from China in the same period.
Mukesh Ambani-owned RIL's JioMart is set to launch a slew of new products including financial services, electronics to airline tickets to take on the competition from upcoming rivals like the Tata Super app and other established players including PayTM, Amazon and Flipkart. This comes at a time when RIL's e-commerce revenues are set to grow by 35 per cent to $15 billion within four years and its core retail revenue is expected to grow at the same pace to $44 billion, as per a forecast by Goldman Sachs. "The Tata vs JioMart war will be the next big corporate battle to watch. "While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft," said head of a rating firm asking not to be quoted.
With the 21 unicorns collectively valued at $73.2 billion, India is the fourth biggest in terms of unicorns, behind the US, China and the UK, as per the Hurun Global Unicorn List.
Blackstone, KKR, and Bain Capital, among others, are in the race for its general insurance arm, and Bandhan Bank, Bain, and Dabur Investments have shown interest for RCap's 51 per cent stake in the life insurance business.
The final report was to be submitted in March but it got an extension till the second week of the monsoon session that began September 14.
This is the sixth consecutive markdown in the valuation of Flipkart by the US firm.
New entity is likely to get a top-up of $200 million from a Chinese investor
The Indian Post Payments Bank will be a boon to Indians who live in rural areas. India has 154,000 post offices, of which 139,000 are rural.
The TMC chief and West Bengal CM made the remarks after her party member received three calls from the CBI.
India ranks third among global startup ecosystems.
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?
Amazon India Country Head Amit Agarwal refers to all talk of mergers as 'noise'. 'All this is a distraction, when the focus should be on the customer,' he says.
India is currently home to 52 unicorn startups and one of the fastest-growing startup ecosystems.
Valued at $5 billion, Byju's has seen growth sky rocket in the last two years on the back of mega VC top-ups.
While 2017 was a record year for private equity investments in India after $23.5 billion in 660 deals, 2018 too has begun with a bang.
Some initial reactions to Prime Minister Narendra Modi's announcement of demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight.
But mobile wallet companies say many consumers are not ready to give out their PAN
Flipkart, Amazon & Paytm have raised commissions from sellers.
In order to determine whether this would be sound strategy for them, one needs to look at two issues: One, on the alliances being built globally between telcos, on one hand, and cloud service firms, on the other, especially with the advent of 5G; and two, how their business strategies in India will blend into with such a deal.
Not displaying the mandatory information, including country of origin, on products sold on their platforms in India, draws government's attention.
Unlike many peers in the VC space, LSE grad Juneja doesn't have an entrepreneurial background but is said to be strong in finance skills
Kishore Singh's encounters with post 8/11 India.
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