'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
More companies with unconventional business models to get into messy legal hassles in India.
A slew of Indian firms, including Flipkart, Byju's and Zomato, is building a path to profitability and diversifying into newer business segments ahead of mega-IPO plans.
This will be done across five cities - Delhi, Bengaluru, Coimbatore, Bhopal, and Shillong. Thereafter, it will be scaled up and launched in 100 cities over a period of six months, said a senior government official.
Mudra Bank will be a Rs 20,000-crore institution, which would "primarily be responsible for refinancing all micro-finance institutions.
The Competition Commission of India has approved Tatas' proposal to acquire up to 64.3 per cent stake in BigBasket, a deal that will provide the diversified group a strong foothold in the fast-growing online grocery market.
Companies are looking for an engaging hook, and sound is universally seen as a big emotional connector, finds Nikhat Hetavkar.
The International Financial Services Centres Authority (IFSCA) has proposed key exemptions to the current listing framework and measures for setting up holding companies (holdcos) and special purpose acquisition companies (SPACs) to encourage domestic startups list at GIFT City, the country's only international financial services centre (IFSC). Under the current framework, to be eligible to list on IFSC exchanges, an issuing company should have operating revenue of at least $20 million in the preceding financial year and average pre-tax profits of at least $1 million during the preceding three financial years. An expert committee has noted these conditions have acted as hurdles to listing new-age companies, and they need a relook.
Chanda Kochhar is among the three Indians in Time's Most Influential list.
Information technology major Infosys and Liberty Global, a London-based telecom firm, signed a 1.5 billion (about $1.64 billion) deal for five years to evolve and scale up the telco's digital entertainment and connectivity platforms, the companies said in a joint statement on Tuesday. As part of the expanded collaboration agreement, the size of the contract will touch 2.3 billion (about $2.5 billion) if extended to 8 years. The collaboration allows Liberty Global to realise run-rate savings of over 100 million (about $109 million) per annum, inclusive of other savings and technology investments, Infosys said in a statement.
The proposed Central Bank Digital Currency (CBDC) to be issued by the Reserve Bank will play a critical role in improving the speed of transactions and reducing the cost of cash, a Deloitte report said on Wednesday. The Reserve Bank of India is planning to come out with a central bank-backed digital currency, using blockchain technology in 2022-23. As a financial services innovation, CBDCs are likely to play a pivotal role in shaping the 'future of value transfer', the report said, adding that most central banks worldwide are now in various stages of their evaluation of launching their national digital currencies.
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
Office building should face north, north-east or north-west direction as it brings good luck and positive energy.
With the Swiss government showing eagerness to help India trace suspected black money hoarders, banks based in Switzerland appear to be losing traction among the wealthy Indian clients and could not get much business commitments during the just-ended WEF summit.
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
The leaders said trade ties were still fragile
Modi and Albanese also reiterated their shared ambition for an early conclusion of the ambitious Comprehensive Economic Cooperation Agreement (CECA) that is expected to significantly expand bilateral trade ties.
NavIC consists of a constellation of seven satellites and a network of ground stations and is touted to be more accurate than GPS.
Snapdeal has been on the deal street for raising fresh funds in order to muscle up for the growing competition in e-commerce.
'I want to leave behind the bank stronger and better than when I took over.'
The credit guarantee cover under the scheme would be both transaction-based (for single eligible borrowers) and umbrella-based (for a group of eligible borrowers).
They straddle many different (non-financial) lines of business with sometimes opaque overarching governance structures.
'Continue with your SIPs to get the benefit of lower average prices in this challenging market environment.'
'Saying that Snapdeal is not doing well is beyond premature. Suggesting that someone has won or lost is myopic.'
State Bank of India (SBI) on Tuesday announced the launch of its first "state-of-the-art" dedicated branch for start-ups in the country here, to facilitate and support them. The branch launched by SBI chairman Dinesh Khara is located in Koramangala, which alongside neighbouring HSR Layout and Indiranagar are the biggest start-up hubs in the city. "...overall we are in a position to provide end-to-end services to start-ups, with that in mind this particular start-up branch is the first start-up branch we are starting, from the capital city of start-ups- Bengaluru.
As an entrepreneur the most important quality you have to have is that all consuming passion to become an entrepreneur.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
In a proposal to FinMin, the Banks Board Bureau suggests asset sales to PSUs within a deadline to recover bad loans.
India's sprawling digital public infrastructure received a glowing endorsement from billionaire philanthropist Bill Gates on Wednesday as he praised the country's "great" digital network, reliable and low-cost connectivity, and said this will be the cheapest 5G market. Under the G20 presidency of India, a session on 'Building resilient and inclusive economies- the Promise of Digital Public Infrastructure' was held on Wednesday in New Delhi, where the Microsoft co-founder spoke of India's digital identity Aadhaar, its payment infrastructure, and rapid strides that the country has taken in bringing more people into formal banking system. "India in particular, by laying the groundwork for digital public infrastucture starting with identity system, allows people to build on top of that.
Amazon Web Services (AWS) will invest nearly $4.4 billion (Rs 36,000 crore) in India by 2030 and support more than 48,000 jobs externally through a new regional service launched on Tuesday, said the on-demand Cloud computing company. AWS Asia Pacific (Hyderabad) is the company's second infrastructure region in India, six years after it opened its first Cloud region in Mumbai in 2016. The Hyderabad region will give customers access to AWS technologies for data analytics, security, machine learning, and artificial intelligence.
'India has the potential to do a lot more to take advantage of the time today where we stand to gain, geopolitically and in terms of market attractiveness.'
'Every time a new tech comes in, there are a set of people who will predict that this will be the end of Indian IT and every time the Indian IT industry and overall technology providers have proven to be resilient.'
India is on track to register its entire 1.25 billion population using its Aadhaar digital ID.
The approved proposals included "procurement of night sight (image intensifier), light vehicles GS 4X4, air defence fire control radar (light) and GSAT-7B satellite," it mentioned.
Apart from fulfilling banking services, one can access more than 100 e-commerce sites, book tickets, and even pay for small value groceries through the app. The bank is now proposing to allow other banks to use this to serve their own customers.
It will be headed by Secretary, Department of Financial Services.
E-commerce giant Amazon on Thursday announced a $250 million (about Rs 1,873 crore) fund that will focus on digitising small and medium businesses, and driving innovation in the areas of agri-tech and health-tech in India. "Small and medium sized businesses are often the engine and the lifeblood of economies and I think it's true in India as well. "And we are very passionate about trying to enable acceleration of SMBs in fuelling innovation and the economy in India," Amazon Web Services CEO Andrew Jassy said.
'At the heart of the strategic relationship between our countries are economic ties.'
