Spice Money: Industry Monitoring 22 to 24 December 2018
- Priyanka Kanodia
- Jan 24, 2019
- 4 min read
Spice Money
Industry News
Bandhan Bank, Gruh Finance explore merger
Publication- Money Guru India
Edition- Online
Date- 22 December, 2018
Bandhan Bank and Housing Development Finance Corp (HDFC) are in discussions for a possible merger between Bandhan and GRUH Finance, two people familiar with the development said. The merger between Bandhan and a home financing subsidiary of India’s mortgage-lending pioneer is likely to involve a share-swap deal, sources said.
The transaction would help Bandhan reduce its promoter holding in the lender from 82.28 per cent. The swap ratio would determine the extent of the stake dilution, which is mandated by banking regulations.
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Bandhan Bank, Gruh Finance down up to 4% on denial of merger report
Publication- Business Standard
Edition- Online
Date- 24 December, 2018
Shares of Bandhan Bank and Gruh Finance were trading lower by up to 4% on BSE after these companies denied the merger report. Bandhan Bank has dipped 4% to Rs 507, extending its past three days 7% decline on BSE. The stock had strong run-up and rallied 22% in five days, from Rs 469 on December 11, to Rs 570 on December 18, after the Kolkata-based private sector lender received prior approval from the Reserve Bank of India (RBI) to open new branches.
“Bandhan Bank evaluates various opportunities on a continuous basis and the Bank, as a matter of policy, does not comment on market speculation. If and when any proposal warranting such disclosure, the Bank will do the same as required under the SEBI regulations,” the bank said on clarification on news item "Bandhan bank in talks with HDFC for control of Gruh Finance" from CNBCTV18 dated 21st December 2018.
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Jio Money now allows Metro card recharges and traffic challan payments
Publication- News Nation
Edition- Online
Date- 22 December, 2018
With the number of Reliance Jio subscribers increase in India, the Jio suite of apps is also getting a lot of mouth-watering updates to allure more people in the country. The latest update includes a new feature in the Jio Money app which allows customers to recharge their existing metro cards and pay traffic challans and more. With this, users will be also able to make online payments of road tolls in select cities. However, the new update (v 3.17.9466) is exclusive to iPhone users only and is yet to feature in the play store of Android and Windows users in India.
Moreover, the version 3.17.9466 update comes up with enhanced security as the Jio Money account will essentially have a direction connection to users' devices. Hence, subscribers will be required to open a Jio Money account first to start using the Jio Money wallet. In order to open a Jio Money account, users are required to provide personal details along with a valid Identity proof. Accepted IDs include PAN Card, passport number, voter ID, driving license number and NREGA proof.
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2018 round-up: Impact of data localization, others
Publication- Livemint
Edition- Online
Date- 23 December, 2018
This year the Reserve Bank of India (RBI) allowed interoperability of mobile e-wallets. With this regulation, you can send money from one e-wallet to another. Though the guideline was issued in October, no changes have been made so far. One of the phases is to use unified payments interface (UPI) for interoperability. In standalone terms, UPI has picked up pace in 2018. It is yet to be seen how the interoperability will work in wallets. It is unlikely that the e-wallet companies will be interested in doing so now. The payments sector has been looking at lending and investment technology to expand.
In February the Maharashtra government approved the fintech policy to build a Global Fintech Hub in Mumbai. The policy aims to provide a venture capital fund of ₹200 crore for fintech startups. The state is also looking to rent out co-working spaces at subsidised rates. In December, it also announced an accelerator programme and launched a regulatory sandbox, which allows start-ups to test technology in controlled conditions. Last year, the Andhra Pradesh government set up a fintech hub in Visakhapatnam. The push from the government and the tie-ups with financial institutions is likely to bring more innovation.
Please click on the link below:
https://www.livemint.com/Money/tYjrbOmLlOTmRuT9IYgCVK/2018-roundup-Impact-of-data-localisation-others.html
What were some of the new features WhatsApp introduced in 2018? Here’s a list
Publication- Livemint
Edition- Online
Date- 23 December, 2018
With over 220 million active users, WhatsApp is unarguable one of the most used applications in India, being used not just for texting, but also voice and video calling, conferencing and even making transactions. 2018 has, however, been a tough year for the instant messaging platform as it came under scrutiny for the spread of fake news and misinformation. Nevertheless, we saw a bunch of new features on the application that do make the chatting experience much better. Here are some of them: Possibly the biggest feature from WhatsApp this year, stickers were also one of the top searched things on Google. While what it does is very simple, it’s very vibrant and dynamic in doing so. Other instant messaging platforms have had this feature for quite a while, but WhatsApp made it available only recently, in October.
You can find WhatsApp stickers in an icon right next to the emoji and GIF icons in the emoji menu. You are then greeted with three tabs—one with your recent stickers, second with your favourites and the third containing all the stickers. There’s also a “plus” icon in the corner that allows you to add more stickers to WhatsApp via a sticker store. You can also make your own WhatsApp stickers by using the guide present on WhatsApp’s blog.
Please click on the link below:
https://www.livemint.com/Technology/bHi3Koza3pmtSqXaItil7H/What-were-some-of-the-new-features-WhatsApp-introduced-in-20.html
Blockchain tech to be disruptive in auto sector
Publication- DNA India
Edition- Online
Date- 24 December, 2018
54% of automobile pioneers will implement their first commercial blockchain network at scale within next three years, said a study by IBM Institute for Business Value
62% – executives say blockchain technology to disrupt automobile industry in three years
54% – expect new business models to influence investments in blockchain
Study surveyed 1,314 automotive executives across 10 countries
55% – OEMs say blockchain implementation to improve imperfect information in their business networks
52% – original equipment manufacturers felt information risks can be improved
42% – OEMs say blockchain can overcome regulatory constraints
As blockchain networks begin to engage and integrate with other business networks, opportunities to provide new services and generate new revenue streams will emerge,"
Please click on the link below:
https://www.dnaindia.com/business/report-blockchain-tech-to-be-disruptive-in-auto-sector-2699560
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