The filing of Swiggy's DRHP has led to direct comparisons with Zomato, which is a direct competitor in food delivery and the fast-growing quick-commerce segment where Blinkit (owned by Zomato) faces off against Instamart (and Zepto). In Q-commerce, Flipkart, Amazon, Reliance and Big Basket are all entering the space. All of them have deep pockets, hence competitive intensity will rise going forward.
Paytm, the country's leading fintech player which had to shut its payment bank business following regulatory action, is revisiting its business strategy including partnership with lenders. Also, the company's founder and chief executive officer (CEO) Vijay Shekhar Sharma has decided to oversee the day-to-day operations with all the major verticals reporting directly to him now. "The thing on top of everyone's agenda is getting the core businesses back on track," a person in the know said.
LIC Housing Finance (LICHF) delivered a healthy FY24 with improvements in net interest margin (NIM) and credit costs and an improved return on assets of 1.7 per cent compared to an average of 1.3 per cent between FY14-FY23. Loan growth was low due to technology upgrades to the platform in H1FY24, though momentum improved in H2FY24. In Q4FY24, the net interest income (NII) came in at Rs 2,250 crore.
BIf you know this BJP, it will now go forward to Jharkhand and Maharashtra as if June 2024 never happened, notes Shekhar Gupta.
The share of foreign loans in total Adani group debt portfolio dropped to 61 per cent by September 2023 from 63 per cent as of March 2023, as the group repaid part of its foreign loans and refinanced part of older loans. The share of Indian lenders, on the other hand, rose to 39 per cent in the total debt pie in September 2023 from 37 per cent in March after a report by US-based short seller Hindenburg Research in January last year, which led to volatility in the share prices of group companies. The group's total debt remained static at Rs 2.26 trillion in the same period.
A combination of factors, including heavy investments in US Treasury bonds and dollar sales at a healthy profit, facilitated the Indian central bank in transferring a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24). The RBI's dollar purchases increased in FY24, supported by robust capital inflows endorsing the economy's health.
'The move to remove indexation benefits on LTCGs presently available for property, gold, and other unlisted assets may have a negative impact as it directly impacts real estate investors.'
'The impact of CBDC on deposits and deposit insurance is largely unknown.'
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
The Reserve Bank will consider reducing the number of free ATM withdrawals, as recommended by Indian Banks' Association, in an effort to cut down on cash transactions in the economy.
Among index funds, the most popular products are funds tracking the Nifty 50 and Sensex, says Dwaipayan Bose, and explains the finer points of selecting the right index mutual fund.
Customers have other options available to them to do low-value transactions, if wallets start mandating full KYC and would switch to those.
There is a definite attempt to put the landslides on the backburner because news of them and climate change worry Wayanad's tourism and real estate businesses greatly. Whatever I experienced of Wayanad's 2024 by-elections; the July landslides were not a burning issue, observes Shyam G Menon.
Available evidence suggests that we are on the way to a very costly failure of the current demonetisation scheme, says M R Narayana.
Gold prices tumbled by Rs 3,350 to Rs 72,300 per 10 grams in the local market in New Delhi on Tuesday amid subdued demand by jewellers after the government announced the customs duty cut on the yellow metal and silver to 6 per cent.
The commerce department has reaffirmed its plans to launch the 'Trade Connect' e-platform to help exporters connect with stakeholders of international trade, as a part of the new government's 100-day action plan, a senior government official said.
Food delivery platform Zomato has laid the foundation for its third vertical of growth by agreeing to acquire Paytm's entertainment and ticketing business, said analysts on Thursday (August 22). Zomato, which also runs a quick commerce business called Blinkit, will strengthen its 'going out' offering but the acquisition may take time to yield results, they said. "Paytm's entertainment and ticketing arm will be part of Zomato's District app, which is due to be launched in the coming weeks.
Crypto assets should not be granted official currency or legal tender status, the much-awaited synthesis paper by the International Monetary Fund (IMF) and Financial Stability Board (FSB) has said ahead of the G20 leadership summit under India's presidency. However, the report has argued against a blanket ban on activities linked to crypto assets, explaining that such a move can be costly as well as technically demanding to enforce. Central banks should avoid holding crypto assets in their official reserve as they pose a risk to monetary and global financial stability, according to the synthesis paper.
At present, there is no cap on free transactions at own-bank ATMs, while customers can use other banks' machines up to five times a month without any extra cost.
For those who are sceptical about using debit or credit cards, even when faced with cash crunch, Adhil Shetty, CEO of BankBazaar.com, lists out a few safe cashless options that can be exercised through mobile phones.
Fintech firm One97 Communications, which owns the Paytm brand, on Wednesday said its loss in the fourth quarter of the financial year 2023-24 has widened to Rs 550 crore following the ban imposed by the RBI on transactions related to its payments bank. The company had posted a loss of Rs 167.5 crore in the same period a year ago, the company said in a regulatory filing. "Our fourth quarter FY24 results were impacted by temporary disruption on account of UPI transition etc. and permanent disruption because of the PPBL embargo.
According to the Reserve Bank of India's data, cash still accounts for 90 per cent of all monetary transactions in India.
National Commission concluded that false and baseless allegations had been made in the complaint to claim a highly exaggerated and atrocious amount of compensation.
The Supreme Court-appointed Special Investigations Team on black money has also proposed that holding more than Rs 15 lakh in cash be made illegal for individuals and for companies, report Tinesh Bhasin and Sanjay Kumar Singh.
Dwaipayan Bose highlights the similarities and contrasts between ETFs and Index Funds.
Recent RBI data indicates net addition of credit cards is running strong at 18 per cent year-on-year (Y-o-Y), but growth in credit card limits is ahead of loans outstanding. Growth in lower limit cards is decelerating fastest. The West and South have more usage and online transactions are more popular than offline, with metros leading growth.
Round-the-clock customs clearance at eight major ports, reduction in bank charges on foreign currency and concessional loans are among the measures announced by the government to cut transactions cost.
The recent Reserve Bank of India (RBI) norms on tokenisation services, which will be offered by card networks, are likely to result in merchants and payment aggregators incurring a cost as they have to pay a fee to the networks. The merchants and the payment aggregators, in turn, may pass on the cost to the customers. The norms, which were issued by the banking regulator released on September 7, allow card networks like Visa and Mastercard to offer the tokenisation service.
Feature for feature, bank FDs are indeed better than debt funds today, mainly thanks to Ms Sitharaman, notes Debashis Basu.
The online world is driven by convenience, simplicity and speed.
Do you know what tax-loss harvesting is? Does it help you save tax? Financial planning expert P V Subramanyam offers all the answers.
He said a large number of transactions in property goes untaxed since the tax rates and the transaction costs are so high. He said effectively states' taxing powers are limited.
Payments and banking transactions through mobile phones in India are expected to touch $350 billion (Rs 1,560 crore) by 2015, according to The Boston Consulting Group (BCG), a global management consulting firm.
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
US's terrible political and economic leadership will ultimately cost the dollar its value. India must act early to avoid being dragged down, suggests R Jagannathan.
Even as RBI allowed banks to charge ATM transactions beyond five in metros, the lenders are yet to restrict the number of free withdrawals for their own customers at home ATMs.
This will make buying tickets on airlines' websites cheaper as it will not include the transaction fee.
96 per cent is being collected through TDS, advance tax, self-assessment tax, and other receipts.
RBI data on Dec 2014 showed 1.05 million PoS machines in the country.
Several Aam Aadmi Party leaders, including Manish Sisodia and Sanjay Singh, hit out at the BJP government at the Centre, saying agencies are targeting those who raised their voice against the ruling party.
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