Spice Money Industry Monitoring 26 to 28 January 2019
- Priyanka Kanodia
- Jan 28, 2019
- 5 min read
Spice Money
Industry News
Interim budget: Will startups get a relief from angel tax demons?
Publication- The Week
Edition- Online
Date- 27 January, 2019
In the upcoming interim budget, Interim Finance Minister Piyush Goyal is likely to announce sops to boost the government's flagship programmers and schemes such as Digital India, Make in India, Startup India, and MUDRA. One of the biggest stakeholder, startups, expects the government to bring in an immediate change in the angel tax structure since it has hampered new investments. Many startups point out that the government should come up with a considerable provision of value-added services like marketing fees, advertising and other such promotions that need to be considered under a progressively lower GST tax structure. The government can also consider increasing online accounting and online tax calculation procedures which will benefit many startups from an easy compliance regime.
Some experts observed that since startups are working overtime to bring simplicity and efficiency to the citizens across the spectrum, the government should a grant 10-year tax holiday to successful and profitable startups so that they can scale up faster to serve more people. “If the current tax break to startups with a turnover of less than Rs 25 crore gets modified to startups with a profit of more than Rs 5 crore, many startups will start working more responsibly to make prudent business models,” remarked Anand Kumar Bajaj, the founder and CEO of PayNearby.
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Buy Bandhan Bank around Rs 425, says Shabbir Kayyumi
Publication- Money Control
Edition- Online
Date- 28 January, 2019
Bandhan Bank bottomed out near the levels of Rs 405-407 and has been consolidating for last few days on daily chart. Emergence of green candles near the support line on daily chart indicates up side movement in the coming sessions. Daily momentum indicator RSI seems to be turning towards on northward side also creating positive rhythm in the scrip.
Furthermore, bullish crossover in MACD adds the conviction of buying the scrip around Rs 425 for the target of Rs 460 with stop loss of Rs 404 marks.
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Got a UPI app? Guard your mobile
Publication- Zee Business
Edition- Online
Date- 26 January, 2019
U.S. payments card company Mastercard Inc said on Friday it still plans to apply for a bankcard clearing license in China and was in "active discussions" to explore solutions. Mastercard "continues to make every effort to secure the requisite license to be able to access China`s domestic market," it said in a statement posted on its website. The company "hopes to be able to present another application for the bankcard clearing license in the very near future." State newspaper Beijing News reported on Friday that Mastercard had submitted application materials in 2017 but voluntarily withdrew its application in June 2018, citing an unnamed source at China`s central bank.
Mastercard did not immediately respond to an emailed request from Reuters on Saturday for further comment. American Express Co in November won approval to clear card payments in China, becoming the first U.S. card network to gain direct access to what is set to be the biggest bank card market by 2020. Previously, foreign card companies have had to partner with China`s Union Pay, a state-controlled consortium that enjoyed a monopoly on all yuan payment cards issued and used in the country, for access to the country`s payments network. UnionPay counts Mastercard, Visa Inc and Apple Inc among its partners for payment services in China.
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https://www.zeebiz.com/world/news-mastercard-says-plans-to-apply-for-china-license-to-clear-card-payments-82252
ICICI, Kotak, Axis among 11 to launch blockchain-linked funding for SMEs
Publication- The Economic Times
Edition- Online
Date- 28 January, 2019
ICICI Bank NSE -5.28 % , Kotak Mahindra Bank, HDFC Bank NSE -0.23 % and Axis Bank NSE -2.39 % are among the consortium of 11 big lenders set to launch the country’s first blockchain-linked funding for small and medium enterprises (SME), an initiative that is set to transform the face of lending to default-prone tiny firms. Yes Bank, Standard Chartered Bank, RBL Bank and South Indian Bank are currently part of the consortium. IndusInd Bank, State Bank of India and Bank of Baroda are now participating in the meetings as outside members. “The idea of having such an organization is to remove any communication hurdle among the different banks.
A blockchain network can only thrive if the entire ecosystem is working in synergy through a single network,” said Abhijeet Singh, head of business technology at ICICI Bank. The meetings among the participating lenders are being organized by a consortium called the Blockchain Infrastructure Company (BIC). The representatives from the banks have been meeting for some time to set up a live network that cuts timeframe in supply-chain financing, making it more transparent and secure. “The core objective of having such a ledger network is to ensure transparency in credit disbursement, especially in the underbanked section,” Singh said. The network will provide lenders much needed access to the public credit data, helping them make their lending more judicious and less risk-based.
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https://economictimes.indiatimes.com/markets/stocks/news/icici-kotak-axis-among-11-to-launch-blockchain-linked-funding-for-smes/articleshow/67718025.cms
How to pay credit card bill online
Publication- India Today
Edition- Online
Date- 28 January, 2019
Credit card payment online is an important task you have to do every month. Knowing the best way to pay the bill will help you pay without missing the due dates and penalties on the same. The entire process can be made hassle-free if you know what you're doing. Banks provide various modes of making payments for their customers. Some of the tools that can be used to pay your credit card bills are demand drafts, cheques, debit cards, cash, and credit cards of other banks. The easiest way to pay credit card bill online is via bank browser and mobile app. You can also make the payments through these steps which include NEFT, Internet banking, drop-boxes, ATMs, post, and many other available online portals.
Digital era has simplified everything, from connecting to people around the world to the way we bank. The internet has also done well by making payments on your credit card easier. It depends on you if you wish to make complete payment or just pay the minimum amount that is due. Almost every bank in India has got the convenience of internet banking, and the banks which still not have this facility are jumping on the bandwagon for giving the same comfort and convenience to its consumers.
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https://www.indiatoday.in/information/story/how-to-pay-credit-card-bill-online-1440772-2019-01-28
Vodafone lost business growth in Europe and Africa due to pricing Publication- Telecom Lead
Edition- Online
Date- 28 January, 2019
Europe contributed €8.145 (–5.6 percent) billion revenue for Vodafone. Rest of the World chipped in €2.547 (–11.1) billion in revenue. Europe generated almost 80 percent of the total revenue in the December quarter of fiscal 2018-19. Vodafone did not reveal the investment of the company in both Europe and Africa during the third quarter. Vodafone Group started focusing on 4G-driven data markets in the recent years resulting into slow growth. Vodafone Germany’s service revenue grew 1.1 percent to €2.564 billion driven by strong customer base growth in mobile and fixed line, partially offset by a reduction in wholesale MVNO revenues. In Q2, Vodafone Germany’s service revenue grew 1.7 percent.
Deutsche Telekom’s German business, the main rival of Vodafone Germany, reported 0.9 percent drop in operating revenue to €5.4 billion in the third quarter of 2018 ended September 30 due to changes in accounting standards. Adjusted EBITDA of Deutsche Telekom Germany rose 2.1 percent to €2.2 billion. Vodafone Germany’s mobile service revenue grew 0.2 percent against 0.9 percent growth in Q2 as a higher contract customer base was largely offset by a decline in MVNO revenue. It added 165,000 contract customers in Q3. Vodafone Germany reported 1.7 percent reduction in mobile contract churn. Contract ARPU declined, driven by the mix shift towards SIMonly, multi-SIM family contracts and convergence. Fixed service revenue grew 2.5 percent against 3 percent growth in Q2. It added 73,000 broadband customers in Q3 against 69,000 in Q2.
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https://www.telecomlead.com/in-depth/vodafone-lost-business-growth-in-europe-and-africa-due-to-pricing-88535
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