#Icici positive pay system

[aryacollegeofengineering]

Top Highest-Paying Careers for MBA Graduates

Career options for MBA graduates

Current Scenario: -

This     prestigious MBA degree is accepted worldwide

Top MBA Colleges in Jaipur (Rajasthan)     have management courses in their curriculum, and many students are opting     for this valuable course

Students enrolling are already employed

 They Either

Opt for a part-time course

Leave their jobs and pursue this course also go for the company they’re working for sponsoring their course

 Benefits Of Doing An MBA

Sound communication and interpersonal skills

Ability to analyze and strategize

Leadership skills

Emphasis on professionalism

Stress on deliverables and deadlines

Helps them gain additional knowledge

Obtain a better pay package

90% of MBA graduates are fully employed and offered better salaries

One/ two years of MBA full-time MBA     courses in Jaipur whereas the EMBA course is a part-time course.

 Specializations: -

Management

Marketing

Human     Resources

Finance

Accounting

Sales

Healthcare

System

What Has MBA To Offer You?

Integrating, Negotiating skills

Macro and Micro Issues of Business

Street Smartness

Confidence

Planning your career

Ambition

Talent

Dreams or Desire

Role Model

An Inspiration from an experience

Focus

 Set Long Term Goals

Aim - where would you want to see yourself in the next 5 - 6 years

Plan the Route

Derive your alternatives

 Finance Objective

Inculcate in the student an understanding of how economics works towards wealth generation and Will equip you with tools that harness the potential of an idea and add to it money-spinning energy

 Examples:

Accounting

Economics

Banking

Market  structures, etc

Eligibility:

Comfort     with numbers

Ability     to grasp abstractions

Attention     to detail

Meticulousness     or zero error documentation

Comfort     with routine

Areas:

Banking

Consultancy

Commercial     banking

Operations

Some Management Companies: KPMG, Earnest Young, Federal bank, ICICI, and Geojit. Positions: Dealer, Manager, Finance, Consultant, CFO.

Marketing

In Marketing, you should understand the customer need so that you can provide the product or service to him and sells itself. Examples: Sales and Distribution, Branding, Advertising, etc.

 Eligibility:

Creative     Thinking

A strong     tongue to blabber

Entrepreneur

Confidence     to convince

 Areas:

Sales     & Distribution

Advertising

Market     Research

Product     & Brand management

 Positions:

Brand     manager (consumer products)

Product     manager (industrial products)

Advertising     account executive

Account     supervisor

Services     marketing

Retailing

Sales     manager 

Operations

Some efficient and effective production of goods and services, and the coordination of activities for such products also It covers planning, organizing, leading, and controlling operations so that they can generate the maximum value for the customers

 Eligibility:

Comfort with numbers.

Strong analytical problem-solving skills

Best for Engineers

Deal with ambiguity

Work in  cross-functional teams

Areas:

Productivity Improvement

Material Management

Quality Control

Supply Chain Management/Logistics

Inventory Control

Production Planning

 Manufacturing Company: Hero Honda, Mahindra & Mahindra, Castrol, Larsen & Toubro HLL, Britannia, ITC. 

Positions:

Manager-logistics

Production  Manager

Distribution in charge

Consultant.

 Systems Objective

An overall idea about the business fundamentals, processes, technologies (IT and Computer), and applications to solve business problems. Maybe vested with different functions in different organizations, although the responsibilities invariably cover the effective integration of management of the organization with the application of information technology.

Eligibility:

Interest in Information Technologies and mathematical should be strong

Logical analysis

Ability to connect technologies to business

 Areas:

Knowledge of business functions

Business mathematics and statistics

Communication  skills

Understand and map business processes

Software engineering and processes

Quality systems like ISO 9000 and CMM Company: The best systems Consultancy and IT firms like PWC, TCS, PCS, Mindtree, Infosys, Wipro, i2, nautic, Techspan, etc.

Human Resource Management

Areas:

Management

General

Recruitment

Training

 Compensation Management

IR

Some Company that hires HR: - Mafois, Green Pepper, AMS, and Any other sector also Positions of these companies is HR, Trainer, Generalist, Recruiter, IR – Manager, Executive, and Consultant.

Conclusion

MBA Colleges in Rajasthan says MBA students get more package and job and also get opportunities to get promotion with Management role, also they can Come Out of Inhibitions and Fears and Be Adaptable To Changes In The Environment Not Crib and Become Cry Babies & Do Not Give Up, Stand Up and Fight So that they can Keep An Open View also Try To Become a Good Learner and Explore your inner talents and try to build upon them and Try always to be a Winner last but not the least Be United always and be there for each other

Source: Click here

[mediworldpatna]

Medi World Hospital - Best Pediatric Hospitals in Patna

Medi World Hospital is one of the best specialty clinics located at East Ramkrishna Nagar, Near ICICI Bank, New Bypass Road, Patna. Established in the year 2015. Medi World Hospital is visited by top doctors.

For patients’ pleasant facilities, Medi World Hospital provides amenities like a waiting lounge. Medi World Hospital has a wide range of procedures and services offered to their patients including General Medical Consultation. The 1 Doctors at Medi World Hospital are very good knowledge in their field of expertise & provide the best Diagnosis & Treatment to patients.

The staff at Medi World Hospital is polite and provides prompt assistance with any queries that the patient may have. The patient can pay for the service with ease by using any of the available modes of payment, such as Cash.

Our Hospital is known for providing quality healthcare and valuable experience to all patients. Our healthcare offerings are supported by a team of compassionate and dedicated medical professionals who have rich knowledge and experience in their respective domains.

The Department of Pediatrics at Medi World Hospital is the most sophisticated set up meek us the best Child Hospital in Patna and provides technically excellent and highly personalized Best Child specialist Doctor in Patna medical care to children up to 14 years of age. Patient Clinics (OPD) are conducted by highly qualified and experienced Consultants. OPD facilities are available from Monday to Saturday both in the morning and evening and on Sunday in the morning.

Medi World Hospital Child specialist Hospital in Patna provides the Top Child specialist Doctor in Patna Our Neonatal Intensive Care Unit (NICU) set up is equipped with all the gadgets required for monitoring and management of sick newborns. Babies with respiratory distress in the early stages are managed with nasal CPAP (continuous positive airway pressure) and in advanced stages with positive pressure ventilation. Patients of HMD (Hyaline Membrane Disease) are administered surfactants. Facilities for exchange blood transfusion and total parenteral nutrition are available in the department.

The Pediatric Surgery Department at Medi World Hospital Has the Top Child specialist Doctor in Patna and is equipped with all the ultra-modern facilities including life support systems for the correction of major congenital malformations in neonates like tracheoesophageal fistula, anorectal malformations and congenital diaphragmatic hernia.

Who should do Pediatric Surgery?

Best Pediatric Hospitals in Patna Medi World Hospital Pediatrics Surgery is a distinctive specialty that is age-based on whereas other specialties are either system or organ based e.g. Neuro Surgery, Cardiac Surgery, or they are technique oriented e.g. Plastic Surgery. As a result of its specific nature, it comes in conflict with not only General Surgery but also with other surgical specialties.

Questions often come up like whether hydrocephalus in an infant is better managed by a Neuro Surgeon or a Pediatric Surgeon or in the case of hypospadias who should operate - a Pediatric Surgeon or a Plastic Surgeon or a Urologist. Such entities should be managed by any specialist who is competent irrespective of the label, but the fact remains that the most essential attribute of a Paediatric Surgeon is a perfect understanding of the child and not the surgical skill alone.

[aryacollegejp]

Career options for MBA graduates

Top Career Paths for MBA graduates

Current Scenario:-

This prestigious MBA degree is accepted worldwide 

Best Engineering Colleges in Jaipur Rajasthan have MBA courses in their curriculum, and many students are opting for this valuable course 

Students enrolling are already employed 

They either 

opt for a part-time course 

leave their jobs and pursue this course also go for the company they’re working for sponsoring their course

Benefits of doing an MBA

Sound communication and interpersonal skills 

Ability to analyze and strategize 

Leadership skills 

Emphasis on professionalism 

Stress on deliverables and deadlines 

Helps them gain additional knowledge 

obtain a better pay package 

90% of MBA graduates are fully employed and offered better salaries 

One/ two years of MBA full-time MBA courses whereas the EMBA course is a part-time course

Specializations: -

Management 

Marketing 

Human Resources 

Finance 

Accounting 

Sales 

Healthcare

System

What has MBA to offer you? 

Integrating, Negotiating skills 

Macro and Micro Issues of Business 

People Management 

Street Smartness 

Confidence

Planning your career 

Ambition 

Talent 

Dreams or Desire 

Role Model 

An Inspiration from an experience 

Focus

Set Long Term Goals 

Aim – where would you want to see yourself in the next 5 – 6 years 

Plan the Route 

Derive your alternatives 

Finance Objective 

inculcate in the student an understanding of how economics works towards wealth generation and Will equip you with tools that harness the potential of an idea and add to it money-spinning energy 

Examples: 

Accounting

Economics

Banking

Market structures, etc. 

Eligibility :

Comfort with numbers

Ability to grasp abstractions

Attention to detail 

Meticulousness or zero error documentation 

Comfort with routine

Areas :

Banking 

Consultancy

Commercial banking 

Operations 

Some Management Companies: KPMG, Earnest Young, Federal bank, ICICI, and Geojit. Positions: Dealer, Manager, Finance, Consultant, CFO.

Marketing

In Marketing, you should understand the customer need so that you can provide the product or service to him and sells itself. Examples: Sales and Distribution, Branding, Advertising, etc. 

Eligibility : 

Creative Thinking 

A strong tongue to blabber 

Entrepreneur 

Confidence to convince

Areas : 

Sales & Distribution

Advertising 

Market Research 

Product & Brand management 

Positions: 

Brand manager (consumer products)

product manager (industrial products)

advertising account executive

account supervisor

services marketing

retailing

sales manager

Operations:- Some efficient and effective production of goods and services, and the coordination of activities for such products also It covers planning, organizing, leading, and controlling operations so that they can generate the maximum value for the customers 

Eligibility : 

Comfort with numbers. 

Strong analytical problem-solving skills 

Best For Engineers

Deal with ambiguity

Work in cross-functional teams

Areas : 

Productivity Improvement

Material Management 

Quality Control

Supply Chain Management/Logistics

Inventory Control

Production Planning

Manufacturing Company: Hero Honda, Mahindra & Mahindra, Castrol, Larsen & Toubro HLL, Britannia, ITC. 

Positions: 

Manager-logistics

Production Manager

Distribution in charge

 consultant.

Systems Objective: an overall idea about the business fundamentals, processes, technologies (IT and Computer), and applications to solve business problems. Maybe vested with different functions in different organizations, although the responsibilities invariably cover the effective integration of management of the organization with the application of information technology. 

Eligibility : 

Interest in Information Technologies and mathematical should be strong

Logical analysis 

Ability to connect technologies to business

Focus Areas : 

Knowledge of business functions 

Business mathematics and statistics 

Communication skills 

Understand and map business processes 

Software engineering and processes 

Quality systems like ISO 9000 and CMM Company: The best systems Consultancy and IT firms like PWC, TCS, PCS, Mindtree, Infosys, Wipro, i2, nautic, Techspan, etc. 

Human Resource Management 

Areas :

Management 

General

Recruitment 

Training 

Compensation Management 

IR 

Some Company that hires HR:- Mafois, Green Pepper, AMS, and Any other sector also Positions of these companies is HR, Trainer, Generalist, Recruiter, IR – Manager, Executive, and Consultant.

Conclusion

Top Engineering Colleges in Jaipur Rajasthan says MBA people get more package and job and also get opportunities to get promotion with Management role, also they can Come Out of Inhibitions and Fears and Be Adaptable To Changes In The Environment Not Crib and Become Cry Babies & Do Not Give Up, Stand Up and Fight So that they can Keep An Open View also Try To Become a Good Learner and Explore your inner talents and try to build upon them and Try always to be a Winner last but not the least Be United always and be there for each other.

[omsolar2]

How to Buy a Solar Panel on Loan?

The amount of power used in residences has been rising over time. Season to season brings about a change. A household's power cost can easily go from Rs. 2000 during the rainy season to Rs. 5000 during the hot summer days, which is pricey for the average person. The family is wary of using air conditioners at home against their better judgement since they are worried about the hefty power cost. A homeowner in this position starts seeking solutions to lower his electrical expenditure. The use of solar energy and the creation of free power is one such incredibly efficient solution. But building a solar system might be difficult for certain folks.

I ) There is no financial finance available for the installation of solar systems;

ii) Utilising solar system net metres.

Buying a solar system is much like buying any other product, like a car. In fact, the accessibility of loans and EMI alternatives has made it easier for people to buy and own automobiles, residences, and mobile phones these days. Do you know how to get a solar system on credit? Everyone knows how to purchase mobile phones, vehicles, and homes on EMI.

Anyone with a credit card may simply use the EMI option for a solar panel on loan, but is this option available to those with debit cards as well? An estimated 80 billion Indians have bank cards, of whom about 30 billion have a Pradhan Mantri Jan Dhan Yojana debit card (ATM card). Only 50 lakh individuals, or around 1% of the population, have credit cards that allow them to use the EMI option for solar system installation.

In order to obtain loans for a solar system, there are two options.

Option 1: Use a debit card to purchase solar panels on EMI.

By enabling customers to view the loan eligibility requirements, a few institutions, including SBI, HDFC Bank, Axis Bank, ICICI Bank, Kotak Mahindra Bank, and Federal Bank, have already made it simpler to apply for a loan.

If a potential consumer already has an account with HDFC bank, he must send an SMS with the keyword DCEMI to the number 56767. To send this text message, the same cellphone number that is associated with the bank should be used. On the same phone, you will receive a response with your loan status. If you are qualified, a notification with your eligibility amount will be sent to you.

The chances of a loan being approved is merely 0.02 percent, and the bank's internal database and criteria determine whether the cardholder is approved for a loan.

2 : How to Apply for a Bank Loan for Home Improvements

A few banks, including the State Bank of India, offer loans for house improvements up to Rs. 1 lakh with an interest rate of about 8%. It will take 4-5 years to pay off the debt. Such loans are available to customers for solar system installation.

Wrapping up

Om Solar Solutions has been in the market for years and has a staff of highly qualified technicians that can easily and quickly install solar panels and other equipment. And it is for this reason that we are known as the best solar panel in Kanpur, India.

[cristajha]

MBA In Finance Management

Introduction MBA In Finance Management: A career in finance can be very satisfying and lucrative. That’s what engages many MBA graduates to finance jobs ranging from highly specialized investment banking jobs to general financial management profession. Finance in simple terms is all about obtaining and managing money. Of course, it sounds more magnificent when you use the appropriate jargon. And we will get to that part fast. For now, it would be enough to understand that people and businesses need money. Part of the complexity is involved in raising the funds and the rest engaged in knowing what to do with it. Examine your own story. You have probably identified the big expenses (studies, marriage, healthcare, house, vacations) that you would hope for over the next several years. In order to suffer or improve your standard of living, you would require a job (or begin a business) that pays sufficiently. Over a period of time, you will save sufficient to tackle each of the big milestones you have planned for yourself. If the requirement to spend is urgent you might borrow the difference from someone who believes you. And in turn, you pay back the borrowed amount overtime. It's pretty much similar for business as well excluding that the scale and complexity go up several notches. Finance is examined to be a subset of economics.  

Meaning of Finance Management In MBA: financial management means planning, organizing, staffing, directing, controlling the financial activities such as acquirement and utilization of funds of the enterprise. It means applying common management principles of the financial resources of the enterprise. 

Definition of Finance Management in MBA: “finance management is the process concerned with planning, raising, and controlling and administering of funds used in the work.”

Significance of Finance Management in MBA: 

Top Colleges For MBA Finance Management In India:

Indian Institute of Management (Kolkata)

Indian Institute of Management (Ahmedabad)

Indian Institute of Management (Bengaluru)

Jamnalal bajaj institute of management studies (Mumbai)

Faculty of management studies (new Delhi)

Indian school of business (Hyderabad)

Indian Institute of Management (Lucknow)

Xavier labor research institute (Jamshedpur)

Management development institute (Gurgaon)

SP Jain institute of management and research (Mumbai)

MBA Finance Courses:

Accounting for managers

Business Communication

Quantitative Methods for management

Organizational behavior

Managerial economics

Macroeconomics

Marketing concepts and practice

Corporate finance

Strategic Management

Investment analysis and portfolio management

Financial markets and institutions

Advanced financial management

Public financial administration

Business and corporate laws

Human resource management

Information technology for finance

Production and operation management

Treasury and risk management

Mergers and acquisitions

Microfinance and insurance

MBA In Finance Management Salary In India:

After completing the MBA in finance one can find the job in the various sectors:

Corporate finance

Corporate banking

Credit risk management

Asset management

Hedge fund management

Private equity

Treasury

Sales and Trading

The average salary of MBA Finance in India is Rs 6,78,000 per annum. The salary increases with increasing experience and knowledge.

Source

EY, HDFC bank, Accenture, TCS, ICICI Bank are top recruiters for MBA finance applicants.

MBA in Finance Management Job Roles and Career Opportunities:

MBA in finance is a tough course; imagine it as a training for one of the most liable courses in the world. Yes, you would be holding the finance of the business and everyone knows finances run an enterprise and you will be in charge of finance. There are multiple chances for finance grads and the cause for this magnetism is the various subjects taught to the students in the course of 2 years.

Job After MBA in Finance management:

Accounting manager

Chief financial officers

Cash managers

Manager consultants

Investment banking associates

Credit managers and specialists

Financial analyst

Corporate controllers

Finance officers and treasurers

Insurance and risk managers

Investment bankers

Investment sales traders and associates

Accounting manager: an accounting manager implements systems for gathering, analyzing, verifying, and reporting certain types of financial details. Hardly an accounting manager is a part of a huge group that involves the mid-level managers.

2.Chief financial officers: a chief financial officer is a senior executive in charge of managing the financial actions of the company. The chief financial officer's work involves tracking cash flow and financial planning as well as examining the company’s financial strengths and weaknesses and proposing written actions.

3.Cash Managers: a cash manager specializes in supervising cash management activities such as posting procedures for payments and repay or bank account administration. Cash managers are required in a variety of organizations such as health care businesses or financial services companies. They usually work full time in an office environment.

4. Manager consultants: management consultant is the practice of helping companies to improve their performance. Companies may draw upon the services of management consultants for a number of reasons involving gaining external advice and access to the consultant's exclusive expertise.

5.Investment banking associates: in the investment banking career path associates are one run greater than analysts. While analysts are recruited from top undergraduate colleges. Associates are promoted internally or enlist from top MBA programs.

6.Credit managers and specialists: credit managers are in charge of overseeing the credit granting process of a company. Their task is to analyze company sales and reduce bad debts losses by maintaining the credit policy.

7.Financial analysts: a financial analyst pores over information to identify business opportunities or make investment advice. More junior analysts tend to do a lot of data collecting, financial modeling, and spreadsheet maintenance.

8.Corporate controllers:  a company’s controller is the chief accounting officer and heads the accounting division. The controller is in charge of the company's financial statements. Journal ledger and cost accounting, payroll, accounts payable, accounting receivable, etc.

9. Finance officers and treasurers:  treasurers are not just bookkeepers they are financial decision-makers who shoulder a lot of authority. They required an eye for smaller details with the vision to handle big picture problems. They are superior and advisors at the same time and especially when there is serious capital investment entangled. They sometimes act as a financial planner for the entire business.

10.Insurance and risk managers: risk managers specialize in identifying potential causes for accidents or loss and executing preventing measures. Devising a plan to reduce the cost.  

11.Investment Bankers: an investment banker in an individual who often works as a part of a financial organization. And is primarily concerned with increasing capital for corporations, governments, and other entities.

12.Investment sales traders and associates: sales and trading is a community at an investment bank that consists of salespeople who call institutional investors with ideas and chance and traders who execute orders and guide clients on entering and existing financial positions.

Functions Performed In Finance Management:

Estimating the amount of capital required: this is the foremost work of the financial manager.

Business Company needs capital for:

(i) Buying of fixed assets.

(II) Meeting working capital needs.

(iii) Modernization and growth of the business.

3.Control Capital Structure: Once the need for capital funds has been determined a decision regarding the kind and portion of various sources of funds has to be taken. This financial manager has to determine the proper mix of equity and debt and short term and long term debenture ratio. This is done to accomplish reducing the cost of capital and increasing shareholders' wealth.

4.Choice of sources of funds: before the real procurement of funds are to be raised. The management can increase finance from various sources like equity shareholders, preference shareholders, debenture holders, banks, and other financial institutions, public deposits.

5.Procurement of Funds: the financial manager takes steps to obtain the funds needed for the business. It might need negotiation with creditors and financial institutions, issues of the prospectus, and so on.

6.Utilization of funds: the funds obtained by the financial manager are to be prudently invested in various assets so as to increase the return on investment while taking investment decisions management should be guided by three main principles: safety profitability and liquidity.

7. Disposal of profits: the financial manager has to choose how much to retain for plowing back and how much to divide as dividends to shareholders out of the surplus of the firm. The trend of its cost of the share, the need for the funds for self-financing the feature programs, and so on.

8. Management of cash: management of cash and other current assets is the main task of a financial manager. It includes forecasting the cash inflows and outflows to ensure that there is no shortage of cash within the company. Enough funds must be available for buying the material payment of wages and meeting day to day costs.

9.Financial control: assessment of financial performance is also the main function of a financial manager. The overall measure of assessment is the return on investment. The other techniques of financial control and assessment involve budgetary control, price control, internal audit, break-even examination, and ration examination. The financial manager lays emphasis on financial forecasting as well.

Types of Finance Management:

1.Capital budget management: capital budgeting is the forecasting procedure used to choose if a company fixed assets, for example, the new plant, new mechanism. Numerous formal master plans are utilized in capital budgeting for example profitability index, payback period.

2. Capital structure management: in corporate finance capital structure manner in which firm finance through a mix of a debenture or equity securities. Debenture finance comes as a bond issue while equity comes from retained income.

 3. Working capital management: working capital management of a company defined as managing bookkeeping methodology and accounting masterplan intended to keep track of current assets and current liabilities.

[jacobwill176]

Glopbal Digital Payment Systems MarketSize, Share, Development and Forecast Overview forecast year 2020

A new market study, titled “Glopbal Digital Payment Systems Market in India – Drivers, Opportunities, Trends, and Forecasts t…

October 04, 2020                                

Overview

Indian payments industry is largely dominated by cash-based transactions. The banking industry in the country was majorly branch-based till 2014. Later, there was a considerable growth in the branch-less channels of banking, which has further explored into digital payments in both rural and urban regions. Indian digital payments industry is expected to reach $700 billion by 2022 in terms of value of transactions.

It is expected that more than 80% of the urban population in India will adopt digital payments as a part of their routine by 2022, and 70% of the retail chains will adopt the same. The reduced transaction charges and the degree of ease of cash transfers associated with the electronic fund transfers and mobile banking will further drive the growth of digital payment systems in India. Also, the Indian Government is bringing positive policy framework such as Goods and Services Tax (GST), financial inclusion, improving digital infrastructure, launching payment systems such as aadhar enabled payments, UPI, and others which are supporting the digital payments industry. In 2016, Indian Government made a significant move, i.e. demonetization, to curb black money circulation within the country and to increase digital payment penetration. It is a phenomenal step made by India towards improving cashless economy, resulting in sharp increase of several digital payment channels in the country.

Market Analysis

According to Infoholic Research, the “Digital Payment Systems Market in India” market will witness a CAGR of 58.90% during the forecast period FY2017–FY2023. The market is segmented by digital payment system types and regions. The digital payment system types include mobile wallets, internet banking, mobile banking, PoS, and others. The regions covered in the report are urban and rural regions; currently, urban region segment holds the major market share followed by rural segment.

Digital Payment System: Mobile Wallets Analysis

Mobile Wallets; India’s mobile wallet ecosystem is yet to be competitive, however major e-commerce and telecom companies are fuelling this industry through business expansion. Also, a strong regulatory support is yet to come into force for the exponential growth of digital payments ecosystem in India.

ALSO READ : https://www.einpresswire.com/article/523295212/digital-payment-systems-in-india-industry-2025-market-capacity-generation-investment-trends-regulations

The changing customer behavior, increasing internet penetration rate, and government policies are fueling the industry which is indirectly supported by the growing demand for P2P payments, e-commerce platforms, utility bill payments, and others. The development of digital infrastructure in India stands out by providing a strong technological ecosystem for the digital payments industry.

Key players

Some of the leading companies covered in the ‘Digital Payment Systems Market in India’ report are Paytm, MobiKwik, PayUmoney, Airtel Money, Vodafone Mpesa, Idea Money, Stank Bank Buddy, HDFC Bank PayZapp, ICICI Bank Pockets, Axis Bank LIME, Freecharge, PhonePe, Samsung Pay, and others

The report gives insights about various modes of electronic fund transfer – Mobile Banking, Digital Payment Methods, Mobile Wallets, Payment Banks, and others.

Benefits

The study offers a comprehensive analysis of the “Digital Payment Systems market in India”. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.

FOR MORE DETAILS : https://www.wiseguyreports.com/reports/1568669-digital-payment-systems-market-in-india-drivers-opportunities-trends-and-forecasts

Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.  

Contact Us:

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[abangtech]

WhatsApp to pilot projects to deliver credit, insurance and pension to users in India

WhatsApp plans to offer credit, insurance and pension products to lower income individuals and those in rural areas in India and help digitize local small and medium-sized businesses as the Facebook-service looks to make a digital payments push in its biggest market by users.

The instant messaging app maker has been working with banks — including ICICI, Kotak Mahindra, and HDFC– in India for the past one year to explore ways to bring financial services to individuals who are yet to become part of the banking population, said Abhijit Bose, WhatsApp’s head in India at Global Fintech Fest conference via video chat on Wednesday.

This work over the past year has already proven that banks can leverage WhatsApp’s reach — with ICICI Bank and Kotak Mahindra reaching more than 3 million new users, said Bose, who announced that Facebook-owned app is now planning to work with additional partners to bring insurance, micro-pension and credit to lower wage workers and the informal economy over the next one and a half year.

WhatsApp will pilot several programs with partners to test solutions to bring these services to people, he said.

“Based on the results, we will co-invest and scale. Even a small conversion of the demand will translate into an infusion of significant savings into the financial system,” he said. “Over the next two years, we are committing to opening in entrepreneurial ways we never have before. We will launch many experiments.”

Banks today face a number of roadblocks such as the level of presence they have in a small city or town and their heavy reliance on middlemen to sell financial services that have limited the number of people they can reach, said Bose.

With a reach of over 400 million users in India — more than any other app in the country — WhatsApp is uniquely positioned to bring more people into the financial ecosystem.

Abhijit Bose, WhatsApp’s head in India, delivering a speech on Wednesday.

Facebook made clear of its plan to enter India’s digital payments market in 2018 when it launched WhatsApp Pay to a small number of users in the country. But the company has been stuck in a regulatory maze since then that has prevent it from rolling out WhatsApp Pay to all its users.

The company says it has complied with all the requirements mandated by New Delhi’s central bank, signalling that it could receive the final approval for a wide rollout of WhatsApp Pay any day now.

WhatsApp also plans to digitize businesses and help them secure working capital, said Bose. Facebook invested $5.7 billion in India’s top telecom operator Reliance Jio Platforms in April this year and said the two companies had agreed to explore ways to serve small businesses such as mom and pop shops.

“These small businesses are critical to the Indian economy. If you look at Facebook as a company, there has always been a focus on helping these businesses,” Facebook India head Ajit Mohan told TechCrunch in an earlier interview. “These small businesses, first-time entrepreneurs and new ventures leverage the Facebook platform to find new customers and expand to additional markets.”

Bose said Wednesday that he is hopeful that some of its financial services bets will work in India and it will be able to replicate those models in other markets.

At stake is India’s mobile payments market that Credit Suisse estimates could reach $1 trillion by 2023. Dozens of heavily backed local startups and international giants are competing to claim a slice of this opportunity. Google Pay and Walmart’s PhonePe currently dominate the market, TechCrunch reported last month.

Source

The post WhatsApp to pilot projects to deliver credit, insurance and pension to users in India appeared first on abangtech.

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[workfromhom]

WhatsApp to pilot projects to deliver credit, insurance and pension to users in India

WhatsApp plans to offer credit, insurance and pension products to lower income individuals and those in rural areas in India and help digitize local small and medium-sized businesses as the Facebook -service looks to make a digital payments push in its biggest market by users.

The instant messaging app maker has been working with banks — including ICICI, Kotak Mahindra, and HDFC– in India for the past one year to explore ways to bring financial services to individuals who are yet to become part of the banking population, said Abhijit Bose, WhatsApp’s head in India at Global Fintech Fest conference via video chat on Wednesday.

This work over the past year has already proven that banks can leverage WhatsApp’s reach — with ICICI Bank and Kotak Mahindra reaching more than 3 million new users, said Bose, who announced that Facebook-owned app is now planning to work with additional partners to bring insurance, micro-pension and credit to lower wage workers and the informal economy over the next one and a half year.

WhatsApp will pilot several programs with partners to test solutions to bring these services to people, he said.

“Based on the results, we will co-invest and scale. Even a small conversion of the demand will translate into an infusion of significant savings into the financial system,” he said. “Over the next two years, we are committing to opening in entrepreneurial ways we never have before. We will launch many experiments.”

Banks today face a number of roadblocks such as the level of presence they have in a small city or town and their heavy reliance on middlemen to sell financial services that have limited the number of people they can reach, said Bose.

With a reach of over 400 million users in India — more than any other app in the country — WhatsApp is uniquely positioned to bring more people into the financial ecosystem.

Abhijit Bose, WhatsApp’s head in India, delivering a speech on Wednesday.

Facebook made clear of its plan to enter India’s digital payments market in 2018 when it launched WhatsApp Pay to a small number of users in the country. But the company has been stuck in a regulatory maze since then that has prevent it from rolling out WhatsApp Pay to all its users.

The company says it has complied with all the requirements mandated by New Delhi’s central bank, signalling that it could receive the final approval for a wide rollout of WhatsApp Pay any day now.

WhatsApp also plans to digitize businesses and help them secure working capital, said Bose. Facebook invested $5.7 billion in India’s top telecom operator Reliance Jio Platforms in April this year and said the two companies had agreed to explore ways to serve small businesses such as mom and pop shops.

“These small businesses are critical to the Indian economy. If you look at Facebook as a company, there has always been a focus on helping these businesses,” Facebook India head Ajit Mohan told TechCrunch in an earlier interview. “These small businesses, first-time entrepreneurs and new ventures leverage the Facebook platform to find new customers and expand to additional markets.”

Bose said Wednesday that he is hopeful that some of its financial services bets will work in India and it will be able to replicate those models in other markets.

At stake is India’s mobile payments market that Credit Suisse estimates could reach $1 trillion by 2023. Dozens of heavily backed local startups and international giants are competing to claim a slice of this opportunity. Google Pay and Walmart’s PhonePe currently dominate the market, TechCrunch reported last month.

from Facebook – TechCrunch https://ift.tt/2Bmmxnv via IFTTT

[un-enfant-immature]

WhatsApp to pilot projects to deliver credit, insurance and pension to users in India

WhatsApp plans to offer credit, insurance and pension products to lower income individuals and those in rural areas in India and help digitize local small and medium-sized businesses as the Facebook -service looks to make a digital payments push in its biggest market by users.

The instant messaging app maker has been working with banks — including ICICI, Kotak Mahindra, and HDFC– in India for the past one year to explore ways to bring financial services to individuals who are yet to become part of the banking population, said Abhijit Bose, WhatsApp’s head in India at Global Fintech Fest conference via video chat on Wednesday.

This work over the past year has already proven that banks can leverage WhatsApp’s reach — with ICICI Bank and Kotak Mahindra reaching more than 3 million new users, said Bose, who announced that Facebook-owned app is now planning to work with additional partners to bring insurance, micro-pension and credit to lower wage workers and the informal economy over the next one and a half year.

WhatsApp will pilot several programs with partners to test solutions to bring these services to people, he said.

“Based on the results, we will co-invest and scale. Even a small conversion of the demand will translate into an infusion of significant savings into the financial system,” he said. “Over the next two years, we are committing to opening in entrepreneurial ways we never have before. We will launch many experiments.”

Banks today face a number of roadblocks such as the level of presence they have in a small city or town and their heavy reliance on middlemen to sell financial services that have limited the number of people they can reach, said Bose.

With a reach of over 400 million users in India — more than any other app in the country — WhatsApp is uniquely positioned to bring more people into the financial ecosystem.

Abhijit Bose, WhatsApp’s head in India, delivering a speech on Wednesday.

Facebook made clear of its plan to enter India’s digital payments market in 2018 when it launched WhatsApp Pay to a small number of users in the country. But the company has been stuck in a regulatory maze since then that has prevent it from rolling out WhatsApp Pay to all its users.

The company says it has complied with all the requirements mandated by New Delhi’s central bank, signalling that it could receive the final approval for a wide rollout of WhatsApp Pay any day now.

WhatsApp also plans to digitize businesses and help them secure working capital, said Bose. Facebook invested $5.7 billion in India’s top telecom operator Reliance Jio Platforms in April this year and said the two companies had agreed to explore ways to serve small businesses such as mom and pop shops.

“These small businesses are critical to the Indian economy. If you look at Facebook as a company, there has always been a focus on helping these businesses,” Facebook India head Ajit Mohan told TechCrunch in an earlier interview. “These small businesses, first-time entrepreneurs and new ventures leverage the Facebook platform to find new customers and expand to additional markets.”

Bose said Wednesday that he is hopeful that some of its financial services bets will work in India and it will be able to replicate those models in other markets.

At stake is India’s mobile payments market that Credit Suisse estimates could reach $1 trillion by 2023. Dozens of heavily backed local startups and international giants are competing to claim a slice of this opportunity. Google Pay and Walmart’s PhonePe currently dominate the market, TechCrunch reported last month.

[swedna]

Indian markets slumped over 2 per cent on Monday as stimulus measures announced over the weekend, as part of the government's Rs 20 trillion economic package, failed to cheer investors who were expecting huge fresh liquidity infusion into the system to improve the aggregate demand. Moreover, the government's decision to extend teh nationwide lockdown, albeit with some relaxations, till May 31, also dented sentiment. READ MORE The benchmark S&P BSE Sensex declined over 830 points at 30,260 levels. NSE's Nifty50, meanwhile, was at 8,900 level, down 220 points.

Among top losers, ICICI Bank, Axis Bank, and SBI were down over 3 per cent each on the index. Infosys (up over 1 per cent), Tech M, and TCS were the top gainers on the 30 share index.

Reliance Industries, that announced 1.34 per cent stake sale in Jio Platforms to US-based General Atlantic, was trading 1 per cent lower.

Sectorally, banking counters were trading in a sea of red. Nifty PSU Bank index was trading with a 3 per cent cut, and was the top loser on the NSE. Nifty Pharma, however, was up 0.8 per cent.

RESULTS TODAY

A total of 14 companies, including Bharti Airtel, GSK Pharmaceuticals, and Dr Lal Pathlabs are scheduled to announce their March quarter earnings. CATCH ALL THE LIVE UPDATES Auto Refresh 02:36 PM MARKET CHECK | Top 5 losers on the BSE at this hour

02:27 PM Earnings Alert | Dr Lal Path Labs Q4 >> Consolidated Profit at Rs 32.5 crore

>> Consolidated revenue Rs 302 crore

>> EBITDA margin at 19%

02:22 PM BROKERAGE VIEW :: Nomura on fiscal stimulus The government has aimed for maximum bang for minimum buck, with most of the relief either regulatory in nature or reflecting in its contingent liabilities rather than explicit budgetary support. Meanwhile it has used the cover of the COVID-19 crisis to plough through long pending, politically sensitive structural reforms. As a result, the package may fall short of mitigating the near-term existential crisis for businesses and workers, but is better designed to improve India’s medium-term growth potential and attract long-term risk capital. As a consequence, we maintain our GDP growth projection for 2020 at -5% YoY 02:15 PM NEWS ALERT | Axis Bank cuts lending rates by 5-15 bps across tenures, reports CNBC-TV18 02:14 PM BROKERAGE VIEW:: ICICI Securities on Cipla We continue to focus on the management’s long-drawn strategy of targeting four verticals viz. One-India, South Africa & EMs, US generics & specialty and lung leadership. Recent first generic approval by USFDA for Albuterol sulphate (Proventil HFA) amid rise in demand for Albuterol products in the ongoing Covid-19 pandemic are a vindication for its lung leadership quest. While US focus will be on specialty including hospitals, value accretive generics, India focus will be on branded (Bx), trade generics (Tx). On the Africa front, Cipla continues to rebase its business model towards private business in the backdrop of shrinking tender opportunities. Another key aspect to watch would be R&D recalibration. Across the board transformation from tenderised model to private model in exports market and towards rapid consumerisation of important Tx, Bx in India bode well to change the investors’ perspective. Our revised target price is Rs 670 based on 22x FY22E EPS Rs 30.2. We upgrade the stock from HOLD to BUY.

02:07 PM Rupee closing Rupee ends lower at 75.91/$ vs Friday's close of 75.56 against the US dollar

02:04 PM Bharat Forge, HAL, Coal India: Bet on these 5 stocks on stimulus package Coal India Ltd (COALINDIA): The stock has always been seen as a “risky trade” and continues to trade with the same sentiment. As this counter has breached the significant support of Rs 150, the momentum has turned bearish. One can witness the negative reversal of Moving Average Convergence Divergence (MACD) from the zero line, when the counter made an effort to cross Rs 150 mark recently. All this shows weakness if the stock tries to move up. There is clear selling pressure evident on the charts at higher levels. It is better to wait for Rs 150 to get conquered and then take a trading position. READ MORE

01:53 PM Nifty Realty index hits lowest level since December 2016; DLF dips 5% DLF, Prestige Estates Projects, Indiabulls Real Estate, Oberoi Realty, Mahindra Lifespace Developers, Brigade Enterprises and Sobha from the Nifty Realty index slipped in the range of 5 per cent to 10 per cent in intra-day trade on the National Stock Exchange (NSE). Of these, Mahindra Lifespace Developers, Brigade Enterprises and Prestige Estates Projects touched their respective 52-week lows. READ MORE

construction, realty sector, flats, NCLT, IBC, Housing

01:45 PM The stimulus and beyond: is a stronger demand support called for? Structural reforms: features of the new normal A number of major structural reforms were also introduced. These include repositioning of the public sector, decriminalization of certain corporate lapses, privatization of coal and other mineral mining, increased FDI limit in defence, ban on imports on specified defence weapons/platforms, and privatization of discoms in union territories. Direct listing of Indian companies abroad will enable them to raise capital overseas. In the case of agriculture, a genuine barrier-free all-India market for agricultural produce is a key feature of India’s new normal. These are far-reaching efficiency augmenting supply side reforms. READ MORE

01:41 PM BROKERAGE VIEW:: Centrum Broking on Nippon Life India Nippon Life India Asset Management (NAM-India) reported Q4FY20 revenue from operations of Rs2.75bn, lower to estimates, led by a fall in equity in the overall AUM. Opex saw a decline during the quarter led by lower employee cost/ other opex. Core operating profit grew 11.0% QoQ. Opex rationalisation in terms of variable pay (25% of EBE is variable) might protect profitability in FY21E. We like NAM-India given its pan-India distribution network and focus on sourcing granular retail AUM from B-30 cities. Also, it has added 290 corporate/HNI clients in H2FY20 (170 in Q3FY20) and it has partly regained lost market share lost in debt and liquid funds in the past year. We maintain our P/E multiple at 30.6x to arrive at a target price of Rs 284. BUY.

[ykonnect]

GIPSA and Its Widespread Implications

GIPSA (General Insurance Public Sector Association) has far-reaching implications for health insurance policyholders, as can be seen from several latest developments concerning the same. GIPSA is basically a group made up of four top public sector insurance companies, namely Oriental Insurance Company, New India Assurance Company, National Insurance Company, and United India Insurance Company. This group of insurance companies has limited cashless services solely for hospitals that take their price bands and join their own preferred provider network or PPN. This decision has impacted more than 5.49 crore health insurance policyholders as per reports.

Even a PIL (public interest litigation) was filed sometime earlier against this GIPSA decision in the Bombay High Court. Without any cashless insurance facilities, when customers go to hospitals for treatment, they end up paying a certain amount for the same which may eventually be disallowed on multiple grounds partially or fully by the TPA (third-party administrator) as per the statement in the PIL filed by the founder of the NGO Karmayogi Pratishthan, Gaurang Damani.

Yet, the insurance companies believe that they are only smoothing the entire system and the PPN could immensely benefit customers only in the future. GIPSA members have reportedly opined that the PPN system is tailored to bring in greater rationalization of the cost structure from the customers’ perspective as well. Standardized packages and rates will safeguard customers from being charged more and will ensure better utilization of the sum assured in the health insurance policy as per GIPSA authorities. Other experts have pointed out that in case of higher claims from healthcare providers, there will only be higher customer premiums payable in the long run. They have termed this as a system of collective bargaining by GIPSA for the benefit of insurance companies and customers alike.

Several leading hospitals (560 at last count) have already enrolled for GIPSA according to reports. However, reputed hospital chains such as Fortis and Apollo continue to remain outside the GIPSA umbrella due to issues regarding the standardization of rates. GIPSA reportedly wants similar rates throughout all hospitals which is a bone of contention for these top healthcare chains. Private insurance companies such as ICICI Lombard, Bajaj Allianz, and others are not reliant for claim settlement on TPAs since they administer the insurance claim settlement process in-house itself. However, public sector insurance companies are now planning for a JV with a third-party administrator which will be administering claims of GIPSA members. This move could get more hospitals into the PPN network. GIPSA is hopeful that the industry will get multifarious advantages from this new system of operations. The TPA set-up will establish a new customer service benchmark in this regard. The rate-standardization procedure has already started being implemented in key Indian cities.

In the case of customers who visit non-PPN hospitals, they should be intimating the TPA within the stipulated period and make payment in full to the hospital post-treatment completion. Thereafter, the ID card, policy copy, discharge summary, payment receipts, investigation reports, and signed claims form should be provided to the TPA for swift reimbursement. GIPSA thus comes with far-reaching implications for customers and the entire health insurance sector in general. There are several positives and a few doubts. However, a change in the system will certainly shake up things in the sector.

GIPSA is causing many grievances because of the rate disparity. Medical Policyholders are not aware of the complexity and presume that at least 80% of medical expenses will be paid but the claim is reimbursed for less than 60%.

Moreover, GIPSA does not accept alternative medical treatment which may be advanced but more expensive. Cases are rejected because the standard acceptable procedure is not followed.

Even the Hospital staff and TPAs are not able to clarify doubts thus leading to confusion.

[techsciresearch]

Visa to Lead India Credit Card Market until 2025 – TechSci Research

Rising use of credit card for large purchases along with growing trend of e-commerce shopping to drive India credit card market through 2025

According to TechSci Research report, “India Credit Card Market By Type, By Service Providing Company, By Credit Score, By Credit Limit, By Card Type, By Benefits, By Region, Competition, Forecast & Opportunities, 2025”, credit card user base in India reached 47 million in 2019 and is poised to grow at a brisk rate during forecast period as well. Increasing availability of POS devices at stores and digital push by the government in the form of campaigns such as digital India are further positively influencing the market. Additionally, owing to increasing usage of credit card in the country, financial institutions are introducing new options and are expanding their credit card portfolio. Moreover, growth in the market can also be attributed to the fact that credit card helps to build a good credit history which can later be used for availing better interest rate on loan in future.

Browse 48 market data Figures spread through 90 Pages and an in-depth TOC on  "India Credit Card Market"

https://www.techsciresearch.com/report/india-credit-card-market/4206.html

India credit card market can be segmented based on type, service providing company, credit score, credit limit, card type, benefits and region. On the basis of service providing company, Visa accounted for the largest share in 2019 and the trend is likely to continue in the forthcoming years as well. Based on the credit limit, INR 51K-2L range is the preferred credit limit by the consumers in India.

Leading companies operating in the credit card market in the country include HDFC Bank Ltd., SBI Cards and Payment Services Limited, ICICI Bank Limited, Axis Bank Limited, Citibank India and Bank of Baroda, among others. The companies operating in the credit card market are increasingly focusing on using advanced technologies in order to make credit cards more secure. For instance, ICICI Bank launched next generation cards, called as ICICI bank carbon, which allows to generate a highly secure dynamic passcode for the card.

Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=4206

 Customers can also request for 10% free customization on this report.

“Credit card allows users to make big purchases or pay bills, offers rewards in the form of discounts or points and reduces the need to carry cash. All these benefits of credit cards are pushing their demand across India. Additionally, the use of a credit card over time helps to build better credit history, qualifying the user for better interest rates and other financial benefits.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Credit Card Market By Type, By Service Providing Company, By Credit Score, By Credit Limit, By Card Type, By Benefits, By Region, Competition, Forecast & Opportunities, 2025” has analyzed the potential of credit card market across the country, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by India credit card market.

Browse Related Reports

India Debit Cards Market By System Types (Online, Offline, Electronic Pulse Card Systems & Prepaid Debit Cards), By Type (Mastercard, Visa, RuPay, Visa Electron, Maestro, Contactless & Others), By Payment Terminals (POS & ATMs), Competition, Forecast & Opportunities, 2024

https://www.techsciresearch.com/report/india-debit-cards-market/4213.html

India Contactless Payment Market By Component (Solution & Services), By Device Type (Point of Sale Terminals, Cards, NFC Chips, Mobile Handsets & Others), By End User (Retail, Transportation, Hospitality, Healthcare & Others), Competition, Forecast & Opportunities, 2024

https://www.techsciresearch.com/report/india-contactless-payment-market/4257.html

India Fingerprint Payment Market By Application (Banking, Retail, Account Managing, Government and Others), Competition, Forecast & Opportunities, 2024

https://www.techsciresearch.com/report/india-fingerprint-payment-market/4240.html

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: sales@techsciresearch.com

[ladystylestores]

WhatsApp to pilot projects to deliver credit, insurance and pension to users in India – TechCrunch

WhatsApp plans to offer credit, insurance and pension products to lower income individuals and those in rural areas in India and help digitize local small and medium-sized businesses as the Facebook -service looks to make a digital payments push in its biggest market by users.

The instant messaging app maker has been working with banks — including ICICI, Kotak Mahindra, and HDFC– in India for the past one year to explore ways to bring financial services to individuals who are yet to become part of the banking population, said Abhijit Bose, WhatsApp’s head in India at Global Fintech Fest conference via video chat on Wednesday.

This work over the past year has already proven that banks can leverage WhatsApp’s reach — with ICICI Bank and Kotak Mahindra reaching more than 3 million new users, said Bose, who announced that Facebook-owned app is now planning to work with additional partners to bring insurance, micro-pension and credit to lower wage workers and the informal economy over the next one and a half year.

WhatsApp will pilot several programs with partners to test solutions to bring these services to people, he said.

“Based on the results, we will co-invest and scale. Even a small conversion of the demand will translate into an infusion of significant savings into the financial system,” he said. “Over the next two years, we are committing to opening in entrepreneurial ways we never have before. We will launch many experiments.”

Banks today face a number of roadblocks such as the level of presence they have in a small city or town and their heavy reliance on middlemen to sell financial services that have limited the number of people they can reach, said Bose.

With a reach of over 400 million users in India — more than any other app in the country — WhatsApp is uniquely positioned to bring more people into the financial ecosystem.

Abhijit Bose, WhatsApp’s head in India, delivering a speech on Wednesday.

Facebook made clear of its plan to enter India’s digital payments market in 2018 when it launched WhatsApp Pay to a small number of users in the country. But the company has been stuck in a regulatory maze since then that has prevent it from rolling out WhatsApp Pay to all its users.

The company says it has complied with all the requirements mandated by New Delhi’s central bank, signalling that it could receive the final approval for a wide rollout of WhatsApp Pay any day now.

WhatsApp also plans to digitize businesses and help them secure working capital, said Bose. Facebook invested $5.7 billion in India’s top telecom operator Reliance Jio Platforms in April this year and said the two companies had agreed to explore ways to serve small businesses such as mom and pop shops.

“These small businesses are critical to the Indian economy. If you look at Facebook as a company, there has always been a focus on helping these businesses,” Facebook India head Ajit Mohan told TechCrunch in an earlier interview. “These small businesses, first-time entrepreneurs and new ventures leverage the Facebook platform to find new customers and expand to additional markets.”

Bose said Wednesday that he is hopeful that some of its financial services bets will work in India and it will be able to replicate those models in other markets.

At stake is India’s mobile payments market that Credit Suisse estimates could reach $1 trillion by 2023. Dozens of heavily backed local startups and international giants are competing to claim a slice of this opportunity. Google Pay and Walmart’s PhonePe currently dominate the market, TechCrunch reported last month.

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[vsplusonline]

Banking stocks wilt under selling spree

New Post has been published on https://apzweb.com/banking-stocks-wilt-under-selling-spree/

Banking stocks wilt under selling spree

Equity benchmarks fell for the second straight session on Tuesday as banking stocks came under heavy selling pressure after S&P Global Ratings flagged off fresh concerns related to stress and uncertainties in the Indian banking sector.

The 30-share Sensex, that traded in the green for most part of the trading session, dipped in the red in the last hour of the session, ending the day at 31,453.51, down 261.84 points, or 0.83%.

State Bank of India was the worst performer among the Sensex pack, shedding 4.64%. Financial sector heavyweights such as Axis Bank, Kotak Mahindra Bank, ICICI Bank, Bajaj Finance and HDFC were among the top losers in the benchmark.

The broader Nifty ended the day at 9,205.60, down 87.90 points, or 0.95%. The Nifty Bank and the Nifty PSU Bank lost more than the benchmarks, shedding 2.39% and 3.28%, respectively.

In a statement, S&P Global Ratings said that Axis Bank’s results for the financial year 2019-20 “underscore high levels of stress and uncertainty across the Indian banking system. In our opinion, systemic pressures for Indian banks could rise owing to the recently announced extension of the nationwide lockdown to check the COVID-19 spread,” stated the release.

The negative sentiments were not limited to the banking sector as the overall market took a beating. On the BSE, 1,561 stocks lost ground as against only 838 gainers.

Incidentally, the drop in the Indian market on Tuesday came amid a positive trend in most of the Asian markets. The benchmarks of Hong Kong, Taiwan, Indonesia, China, Philippines and Singapore all gained ground.

“Our markets are struggling at higher levels and today, despite global peers suggesting some strength, we completely shrugged them off towards the latter part of the session,” said Sameet Chavan, chief analyst, technical and derivatives, Angel Broking.

“The major culprit in this late sell off was the financial stocks. Some of the marquee banking names along with NBFC stocks, started falling ferociously and this development weighed down heavily on our market,” he added.

Meanwhile, foreign portfolio investors (FPIs) continued their selling spree on Tuesday as net sellers at almost ₹1,060 crore. Domestic institutional investors net sold shares worth ₹995 crore. Meanwhile, the rupee recovered 10 paisa to close at 75.63 against the dollar.

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[planify]

Suryoday Small Finance Bank Pre IPO Review & Analysis

Suryoday Small Finance Bank IPO Review, Allotment Status, Subscription, Price, Date & More.

Let’s have a detailed review of the company and analytics of the Suryoday Small Finance Bank IPO release date, IPO offer price, subscription, Suryoday Small Finance Bank IPO allotment, grey market price and other details like the company’s background, its financial positions, and its other related things.

Summary of Suryoday Small Finance Bank

Suryoday - ‘Sunrise’ in Sanskrit, signifies a new dawn, a new beginning and this encompasses our strong commitment to financial inclusion. In the past, as Suryoday Micro Finance and now as Suryoday Small Finance Bank.

Suryoday journey from Micro Finance to a Small Finance Bank took just eight years. Today over a million ‘smiling customers’ stand testimony to our belief that ‘no matter what, dreams, when enabled will transform mankind and create a whole new world around’.

Suryoday has among the 10 companies and the only one from Maharashtra to obtain a ’Small Finance Bank’ license from the Reserve Bank of India (RBI).

Suryoday Small Finance Bank is a new age bank that went live on January 23rd 2017. Its endeavor is to bring the best banking solutions to the ‘banked’, ‘under-banked’ and the ‘un-banked’ sections of the society. The Bank’s focus is to continue to be on ensuring the best in class ‘Customer Experience’.

As a bank, Suryoday

-         Offers its existing credit products suite of MFI loans, Vikas Loans, Shopkeeper Loans etc. to new and current customers.

-         Offers digital banking as the key account differentiator to customers using the extensive seeding of Aadhar biometric identification system, NPCI’s payment systems and mobile technologies whilst continuing to explore banking through traditional channels.

-         Focuses on the unserved and the underserved through innovative banking practices and continue to expand reach in states where it currently doesn’t has a presence

Promoters of Suryoday Small Finance Bank

Mr. Baskar Babu Ramachandran

-         MD & CEO of Suryoday Small Finance Bank Ltd.

-         Over 20 years of experience with Cholamandalam, HDFC Bank, GE Capital in leadership roles.

Mr. P Surendra Pai

-         Retired in 2002 as a Vice Chairman of Wipro Ltd.

-         Executive Chairman of Murugappa Group till 2006.

-         Independent Director of Federal Bank till 2010.

Mr. P S Jagdish

-         Director Emmjay Financial Ventures Pvt Ltd.

-         Promoter of Indo Tech Transformers Ltd.

-         Former President of Indian Transformer Manufacturers Associations.

Mr. G V Alankara

-         Director & Compliance Officer Old Bridge Capital Management.

-         Ex-Fund Manager Canara Bank Mutual Funds.

-         Ex-Head of Dealing - SSKI Securities Ltd.

Board of directors

Mr. R. Ramachandran

-         Currently Independent Director with the Gati group.

-         Ex-Chairman & Managing Director - Andhra Bank.

-         Ex-Executive Director - Syndicate Bank.

Mr. Mrutyunjay Sahoo

-         Independent Director

-         Ex-Special Chief Secretary to the Government of Andhra Pradesh.

-         Ex-Director as government nominee in Navratna and Miniratna PSUs.

Mr. Jyotin Mehta

-         Independent Director

-         Ex-GM and Company Secretary of ICICI Bank Ltd.

-         Ex- Chief Internal Auditor of Voltas Ltd. Currently Director with ICICI Prudential Trust, Monnet Ispat & Energy and some companies of the ASK group.

Ms. Meena Hemchandra

-         Independent Director

-         Retired Executive Director of Reserve Bank of India having over 35 years of experience spread over various departments. Has been CGM-in-charge of the Mumbai Region of the Department of Supervision, RBI , has chaired the ‘Standing Committee on Cyber Security in Banks’ and overseen the issue of cyber security guidelines from the RBI. An MA (Economics), CAIIB and CFA by qualification, she has academic and Board- level experience having been on the Board of several Bank Boards.

Mr. Arun Diaz

-         Independent Director

-         Post 28 years of world-wide assignments with Standard Chartered Bank, he is now a Consultant in Banking and an entrepreneur in the healthcare sector involved in Venture Capital. An MBA from XLRI, he mentors new and upcoming entrepreneurs.

Mr. Ranjt Shah

-         Nominee Director

-         Over 36 years of varied experience, including thirteen years as a private equity investor.

-         Managing Partner and Co-Founder of Gaja Capital leading investments in the consumer, financial services and infrastructure ancillary sectors.

Mr. Aleem Remtula

-         Nominee Director

-         Has over 15 years of experience in impact investing with socially-responsible, venture capital and private equity funds in the U.S. and Europe and is a Economics graduate from Princeton University and also an MBA from Harvard Business School. He is currently Managing Director at Developing World Markets, a U.S.-based impact investment manager and manages the firm’s private equity investments across Asia, the Caucasus, and East and South Africa. Aleem also serves on the board of the Aga Khan Foundation, USA and consults on financial access strategies and products for the poor and ultra-poor across multiple countries.

Mr. Baskar Babu Ramachandran

-         MD & CEO

-         MD & CEO of Suryoday Small Finance Bank Ltd.

-         Over 20 years of experience with Cholamandalam, HDFC Bank, GE Capital in leadership roles.

Key Institutional Investors:

-         HDFC

-         HDFC Life

-         IDFC First Bank

-         Kotak Life

Industry Overview:

-         The Indian Banking structure has undergone appropriate transformation with the formation of a new banking institution – Small Finance Banks (SFBs).

-         These SFBs are expected to penetrate Rural India and help achieve financial inclusion by providing basic Banking and Credit services to a larger population.

-         SFBs also work as institutionalized systems to undertake deposits, which enables them to access low-cost funds as compared to NBFCs.

-         The loan portfolio of SFBs is expected to grow at 25-30% with share of microfinance declining to around 40% by March 2020, according to a report by rating agency ICRA.

Suryoday Small Finance Bank IPO Allotment Status, Subscription, Price, Date & More.

Suryoday Small Finance Bank IPO date has not been released yet. Once the IPO date has been issued, the subscription details will be updated regularly. The Allotment status will be announced about 3-4 weeks of the IPO issue date. The price band of the IPO will be known only after the offer price of the IPO issues is known. One can know about the price band of the IPO in about a week.

Planify View Over Suryoday Small Finance Bank:

-         We at Planify believe, after considering the bank’s financials and capital structure, that the bank is going to be a safe bet and it could grow exponentially in the coming years. After analyzing all the aspects we would give the bank a rating of 4 out of 5.

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[swedna]

The Reserve Bank of India (RBI) on Friday came with another round of measures to ease a slowdown caused by the COVID-19, which includes discouraging banks from parking their excess liquidity with the central bank and mandating the lenders to buy debt papers of small and medium sized non-banking financial companies (NBFC).

In a streamed address to the media on Friday morning, RBI governor Shaktikanta Das said the measures are taken to ensure financial stability.

“The RBI will monitor the evolving situation continuously and use all its instruments to address the daunting challenges posed by the pandemic. The overarching objective is to keep the financial system and financial markets sound, liquid and smoothly functioning so that finance keeps flowing to all stakeholders, especially those that are disadvantaged and vulnerable,” Das said in his address.

He also said that as inflation eases and come down below 4 per cent b the second half of 2020-21, more space will open up for rate cuts to address the intensification of risks to growth and financial stability brought on by Covid-19.

“This space needs to be used effectively and in time,” he said.

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The central bank has now cut the reverse repo rate, the rate at which banks park their excess liquidity with the central bank, by a further 25 basis points to 3.75 per cent. The central bank had on March 27 lowered this rate by 90 basis points, even as it had lowered the policy lending rate repo by 75 basis points, in order to discourage banks from parking their money with the central bank. Evidently, the sizeable cut last time didn’t work, as instead of lending, banks continued to park surplus money of about Rs 7 trillion with the RBI.

RBI has now mandated banks to lend at least 50 per cent of the money they raise from the central bank’s targeted long term repo operations (TLTRO) to small and medium sized NBFCs.

So far, banks have raised Rs 1 trillion of liquidity under this window, including the Rs 25,000 crore of TLTRO auctions that happened on Friday, but so far the banks have bought papers of top rated firms and even papers of public sector entities, defeating the very purpose of such targeted lending operations by the RBI.

The RBI will now come up with another Rs 50,000 crore of TLTRO window, it said, and more if needed in the coming days.

The mandatory part in TLTRO can spur many bond issuances by small and medium sized NBFCs that do not get banks loans readily, and are also suffering from liquidity issues.

While the RBI governor remained silent about a possible moratorium on repayment obligations by the NBFCs, the TLTRO mandate is expected to ease some of their pains.

The RBI had left it to banks to decide if they want to extend the moratorium to NBFCs, but the banks were not sure if that would mean that such loans would become bad debt, as the March 27 rules mentioned moratorium for only working capital loans and retail loans.

The RBI governor cleared the confusion to a large extent.

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“It has been decided that in respect of all accounts for which lending institutions decide to grant moratorium or deferment, and which were standard as on March 1, 2020, the 90-day NPA norm shall exclude the moratorium period, i.e., there would an asset classification standstill for all such accounts from March 1, 2020 to May 31, 2020,” the governor said in his address.

This would mean that banks will be able to give moratorium to NBFCs as well without fearing increased provisioning that comes with a default account.

However, the RBI said if they decide to extend the moratorium, banks will have to make additional provision of 10 per cent, which can be fully reversed back in two quarters once the situation normalizes. This is to safeguard banks from any default risk on loans given under moratorium that may turn unserviceable now because of economic hardship.

“RBI’s announcement to infuse liquidity into the system is extremely welcoming and a big relief to NBFC borrowers. The decision to cut the reverse repo rate by 25bps will encourage banks to look for lending opportunities. We would appreciate if banks reciprocate positively to NBFCs request on moratorium to manage cash flow smoothly," said Umesh Revankar, MD and CEO, Shriram Transport Finance.

Furthermore, the RBI said it will open a refinance window for National Housing Bank (NHB), National Bank for Agriculture Credit (NABARD) and Small Industries Development Board of India (SIDBI).

Importantly, the RBI said banks need not pay dividend for the financial year March, 2020 till September 30 of this year.

The RBI also eased liquidity coverage ratio for banks, but that won’t make much of a difference as banks are flushed with liquidity anyway.

In a relief to the micro, small and medium enterprises, who stare at being classified as a defaulter due to lack of business in the lockdown period, the RBI said the period for resolution plan can be extended by 90 days.