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.
Professionals with sharp technical skills and knowledge of emerging markets will continue to be in demand, says Nikhil Barshikar, founder and CEO of Imarticus Learning, a tech learning and training company.
Many of them are housewives looking to increase income in households struggling with the economic devastation caused by COVID-19.
For now, the concerns over bad loans have taken a back seat; a bigger challenge for the banking community is credit growth, explains Tamal Bandyopadhyay.
'There is pent-up demand for cricket after last year when no tournaments were played on Indian soil due to the pandemic.'
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
HDFC Bank on Thursday said network outages that led to a regulatory ban on new credit card sales were not due to transaction volumes, and affirmed that it continues to stay in touch with the RBI for restarting the services but giving a timeline for it will be difficult. The bank said it is on its way to creating a new technology architecture for the future as part of the "digital factory" and "enterprise factory" initiative. But, it conceded that outages will continue under the older system though it will be working to minimise the time taken to bring the service back. In December 2020, the RBI took the unprecedented step of stopping the largest private sector lender from selling any new credit cards and also launching new digital services, because of a series of network outages.
India needs a paradigm shift in personal data management that transforms the current organisation-centric data sharing system to an individual centric approach that promotes user control on data sharing for empowerment, said Niti.
Modi hailed the close defence cooperation between the two countries and welcomed the completion of the logistics agreement between the two navies.
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.
Why settle for $400-500 million when you can make a billion or even more? That, in a nutshell, is why Krishna Kumar, 43, and Kashyap Dalal, 40, co-founders of Bengaluru-based edtech firm Simplilearn, one of the big players in the segment, sold a 51 per cent stake to Blackstone instead of selling 100 per cent as close competitor and rival Great Learning chose to do.
E-KYCs and Aadhaar authentication are of crucial importance to the fin-tech companies as the recent RBI instructions require strict KYCs for these players to function in the market.
'Banking is a business of trust.'
That's because India does not have a serious venture capital industry with an appetite for risk, observes T N Ninan.
The only feasible way to have a healthy banking sector could be making it mostly private, along with two or three large, better-run government banks, suggests T N Ninan.
Mobile payments alone gathered close to $1.51 billion in the year 2017 through 13 rounds of funding, according to data compiled by Tracxn
Ajit Balakrishnan offers a New Year resolution for our policy-makers.
The content discovery platform designed to help you discover content and services in the language of your choice recently turned profitable. It has delivered 1 billion application installs and updates in the past 12 months, says Samreen Ahmad.
If banks won't lend, seek a loan from fintech lenders or P2P platforms to help you get out of a debt trap.
'Those who come from outside are surprised at the relatively small strength of the RBI supervisory cadre, relative to the needs of the country and the needs of the financial sector.'
Becoming a unicorn is surely a marker for a company in its growth story, but it's not a major achievement nor is it a turning point of any significant worth.
There seems to be no dearth of funds to fuel this growth, report Peerzada Abrar and Shivani Shinde.
During a three-hour long virtual meeting with CEOs of large public and private sector banks along with heads of NBFCs, the prime minister assured them that the government is ready to take all steps to support the financial sector.
The government is in no mood to buy the privacy and security argument pitched by WhatsApp, whereas the American firm says traceability will undermine end-to-end encryption and the private nature of the app, creating potential for serious abuse.
Banking is first about trust and integrity and then about technology and the rest.
'Google and Facebook need to be tamed, their garb of 'Investing in India's future' need to be pulled off,' observes Vibhu Arya.
As many as 3.2 lakh shareholders attended the meeting on the newly-minted JioMeet platform from 550 cities in 48 countries.
Use a "virtual credit card" for every online transaction when you can't pay cash on delivery.
Agriculture, social services, education, defence and so on will be brought into the digital fold and every gram panchayat will be connected to the internet.
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
There is some hope for these companies, with Finance Minister Arun Jaitley saying there was a need for legislative backing for private companies that were using Aadhaar. Adding that a careful reading of the judgment is required, Jaitley said this could be "temporary".
The proposed investment will be made over a period of five years in our India operations, which includes an R&D facility at Pune and another centre at Vadodara.
Lenders now use your phone data, utility bill payment records and other non-traditional parameters to determine if you are creditworthy.
Ajit Balakrishnan on understanding the anti-cash chorus.
Investment banking star and Moelis India Chief Executive Officer Manisha Girotra remembers a colleague who wanted to resign because she needed to attend to her parents' health issues in a different state. Rather than quit a promising career, she was given the flexibility of working from home on Fridays, which was unusual in the pre-pandemic days. This allowed her to take care of her parents' visits to the doctor and other health-related needs without quitting her job. She would be back in the city office on Mondays.
Over the last 12 months, thanks to bold bets by venture capital firms like Sequoia, SoftBank Vision Fund, and foreign strategic investors like Naspers, pipeline of start-ups with potential to achieve $1 bn in valuation is at an all-time high.
'If you give your ID and password to somebody else, how can anybody blame the technology for that problem?'
The new restriction will be challenging for businesses, as they will have to do regular follow-ups with their suppliers.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
Franklin Templeton Mutual Fund, which has closed six debt schemes, has said the winding-up process will be delayed in the absence of authorisation from investors and further steps will be possible only after seeking fresh approval from them. It further said that investors who do not have an e-mail ID or mobile number registered with the fund house will not be able to participate in the voting process. The date on which the voting would start has not been disclosed yet.
