Aug 18, 2016 - India Post to offer Net banking facility soon

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Sree Vijaykumar From the Editor's Desk Narayana Murthy has been known for his candour. His quote that Indians have the highest ego per unit of achievement is going viral. I tend to agree. This ego is stopping a lot of us from learning and improving ourselves. Found another gem in his oped piece about Azim Premji - "I use a principle called the Degree of Optimal Ignorance (DOI) in every decision I take. This principle states that your knowledge for any decision should be strategic and not be as much as your subordinate and not as little as your boss. You learn to arrive at the optimality through experience." The full oped is here Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails (B2B Decision-Makers, B2C Decision-Makers, TradeBriefs Premium). India Post to offer Net banking facility soon India Post is on a technology upgradation mode to provide a host of financial services to the public, besides strengthening its hold on the logistics sector.As part of its strategy to get closer to pe SBI-associates’ merger: the case of united we fall Combined gross NPA ratio of SBI’s five associate banks at the end of the June quarter has surged to 9.14% from 5.98% in the March quarter ChrysCapital set for Rs 600cr stake in Hero FinCorp Bank staff protest against merger move In a significant development, the Telangana government will oppose the proposed merger of State Bank of Hyderabad (SBH) with its parent State Bank of India – a move which is likely to infuse new lease of life into the agitation being carried out by the SBH employees against the amalgamation. Pi Ventures plans to raise Rs195 crore for first fund The fund, formed earlier this year by Manish Singhal and Umakant Soni, is currently on the road to tie up commitments Stellaris may raise $10 million from SAP Stellaris Venture Partners is in the market to raise at least $100 million for its first venture capital fund TPG in talks for a stake in Mumbai's maternity chain Surya US-based private equity firm may buy a 25-30% stake in clinic chain for about Rs80-100 crore Cairn-Vedanta merger: Sebi probes unusual stock movements Sebi is checking if any entity made illegitimate gains by trading in Cairn India and Vedanta stocks on fresh merger terms before they were publicly announced KKR India's manufacturing bets pay off This year, it made exits from Gland Pharma, Alliance Tire and Dalmia CementWhen Shanghai Fosun Pharmaceutical bought a 86 per cent stake in Hyderabad-based Gland Pharma last month for $1.26 billion, it gave global private equity giant KKR & Co 2.67 Corporates dropping PSBs as their primary bank, shows Report The report tilted "Digital and Beyond: New Horizons in Indian Banking" was released at the FICCI-IBA Conference - FIBAC 2016 - by Raghuram Rajan. ABFSL-Grasim deal not in public shareholders' best interests: InGovern According to InGovern, partial demerger seems to have been "undertaken to with an intent to retain higher control while having low beneficial interest". SBI merger was to test the waters: bank board chief Vinod Rai The proposed consolidation of public sector banks will not take place purely on merit but will be influenced by extraneous factors including the political environment, Banks Board Bureau chairman Vinod Rai said. Axis bank launches contactless debit cards with Visa Axis Bank's Secure+ cards have an embedded microchip and an antenna (based on radio frequency) enabling "contactless" communication with a reader at checkout. Holding a PF account for 5 years doesn’t alter tax liability There has to be continuous service with the employer for 5 years or more Power Grid may raise Rs 4,000 crore through bonds by September From consultancy, the company's revenue was also higher at Rs 121.56 crore in April-June 2016-17 as against Rs 89.98 crore in the same quarter last fiscal. Bank of India looks to raise Rs 500 cr more from asset sale this year Bank of India is likely to grow its loan book by 6-8 percent in the current financial year, as it looks to optimise the use of available capital. DBS to launch"bank conversationally" innovation in India Any banking transaction usually comes with a structured format. But ever thought of free-texting your bank your requirements? Federal Bank to start distribution of Indian gold coins "Through this tie-up with MMTC, the bank becomes the first among the private sector banks to offer this product to its customers," said Jose K. Mathew. Modi govt is using a 21-year-old treaty to get Vijay Mallya back to India The directorate has written to ministry of external affairs to invoke the Mutual Legal Assistance Treaty (MLAT) which could bring Mallya back. Bad loans, slowing growth cloud outlook for power sector lenders As a result of subdued investments in the power sector, companies are seeing limited lending opportunities, and slowing disbursements and loan book growth India to have 730 million internet users by 2020, says report About 75% of new internet user growth is likely to come from rural areas, according to a report released by Nasscom and Akamai Technologies Take that Modi critics! Rajan, Arundhati Bhattacharya hint at expanding economy Bhattacharya did not elaborate but RBI governor Raghuram Rajan implied more or less the same when speaking just before her at the same function. Like Ola, start-ups are shutting down acquired firms Ola’s move to shut down TaxiForSure stands out because of the size of the buyout at $200 million, but start-ups are shuttering businesses to cut costs and conserve cash amid a slowdown in funding SBI picks up bonds to retain high-rated corporate customers In the April-June quarter, SBI moved Rs25,000 crore worth of exposure to high-rated corporates from its loan book to its investment book GST bill: Nitish Kumar goes goodwill hunting Bihar chief minister Nitish Kumar is trying to mend ties with the Modi government as he uses good economics as the central theme for good politics Huawei aims 10% smartphone share in India's highly competitive market The Shenzen-headquartered company will announce its domestic manufacturing plans within a months time, following permissions from authorities. Cash no longer king: Cards become dominant mode for settling bills in urban India Purchases made through cards and loans accounted for 55-60% of all white goods and smartphones bought during Independence Day sales in large cities for the first time. Walmart keen to retail processed food in India The government allowing 100 per cent FDI in food processing will benefit farmers and boost the sector, Krish Iyer, president, Walmart India, said HP India announces Jio Preview Offer in alliance with Reliance Retail Under this plan, says HP, customers will need to purchase the JioFi devices at Rs 2899 and then they can enjoy unlimited access to 4G data for 90 days. India one of the countries where Metro will invest most in future: Damien Veilleroy, Asia Head, Metro AG We have been here for the last 14 years and it took a while to adjust our model in the country and it was longer than expected. The learning curve in India was not that easy. ABEC Promoters Acquire Delhi-based Managed Marketplace PosterGully PosterGully, as a platform, will continue to operate under a new leadership and will be actively looking to strengthen its brand presence. Snapdeal shuts Exclusively.com; To undertake strategic review of its investments According to data from Forrester Research, the online apparel, footwear and accessories category is expected to cross $5 billion in 2016. Dutch apparel brand Scotch & Soda drops Myntra for Reliance Dutch apparel brand Scotch & Soda which was being sold exclusively on Myntra.com, has struck a long-term partnership with Reliance Brands to open its stores in India. Myntra collaborates with MotoGP to launch riding gear collection The company which recently acquired its closest competitor Jabong, has 11 private label brands which contribute to 20-25% of total gross merchandise value. Sachin's 'True Blue' all set to be launched through Flipkart owned Myntra Cricketer Sachin Tendulkar has unveiled his menswear brand True Blue on fashion retailer Myntra's online store. True Blue has been developed in association with association with Arvind Fashion Brands. TradeBriefs Publications are read by over 10,00,000 Industry Executives India Business Brief | India Retail News | India Food Brief | India Telecom Brief | India Finance Brief | India Software Brief | India Digital Brief | India Ecommerce Brief | India Franchise Brief | India HR Brief | India Logistics Brief | India Construction Brief About Us  |  Advertise Privacy Policy    Unsubscribe You are receiving this mail because of your subscription with TradeBriefs. Our mailing address is GF 25/39, West Patel Nagar, New Delhi 110008, India