Spice Money: Industry Monitoring 30 May 2019
- Priyanka Kanodia
- Jun 10, 2019
- 4 min read
Spice Money
Competitors
No-liquidity stress seen for NBFC-MFIs right now: Bandhan Bank CEO Chandra Shekhar Ghosh
Publication- The Financial Express
Edition- Online
Date- 30 May, 2019
Amid the Reserve Bank of India’s proposal to impose strict liquidity norms on non-banking financial companies (NBFCs), private-sector lender Bandhan Bank on Wednesday said it has not been witnessing any liquidity stress scenario for the NBFC-MFI (microfinance institution) sector, and it is currently lending to NBFC-MFIs “comfortably”. “For the NBFC-MFI sector, we are not seeing any liquidity crunch at this moment. An NBFC-MFI has the ability to generate cash flows from its daily transactions. Because repayments of loans from its customers are coming almost every day,” Bandhan Bank MD & CEO Chandra Shekhar Ghosh told FE.
“We are providing fresh credit facilities to NBFC-MFIs as we know their business models and cash flows very well. We have a team which can understand the nitty-gritty of this business very well. So, that is the advantage for Bandhan Bank. We are not likely to lend to all NBFC-MFIs, we are lending to those which are good, based on internal and external ratings. Other than NBFC-MFIs, some NBFCs are also doing very good business,” Ghosh said. When asked whether his bank would be cautious on taking fresh exposure to the NBFC sector, he said: “It is not correct to restrict fresh lending to the sector as a whole due to defaults in one or two cases. Banks should be more cautious, but not panic-stricken. We are cautious. We are currently not lending to big NBFCs, but are taking fresh exposures to small and medium NBFCs, based on their ratings.”
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Industry News
HMRL bats for online payments across stations
Publication- The New Indian Express
Edition- Online
Date- 30 May, 2019
The provision of using digital payment methods to buy metro tickets at stations has freed passengers of the hassle of carrying loose cash or waiting for the exact change to be returned. However, several passengers have complained that digital transactions have not been consistently permitted in all stations. Officials, reacting to these complaints, said that the provision of digital transactions via QR codes displayed on the exit and entry gates would be rolled out soon. They also went on to claim that the digital payment methods had only been employed only an experimental basis.
Anil Kumar Saini, the Chief Operating Officer of Railway Systems, L&T Metro Rail, said, “Transaction via the PayTM app to buy tokens was started on an experimental basis for three months. We selected Metro Stations like Begumpet and Ameerpet -- that have a high footfall -- to see how well the passengers would react to digital transactions. We have received quite positive feedback and are planning on applying this feature across all the stations in two months’ time.”
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Kakao's Blockchain Project 'Klaytn' Announces 8 New Initial Service Partners to Drive Mainstream Adoption of Blockchain
Publication- The Week
Edition- Online
Date- 30 May, 2019
Klaytn, the global public blockchain project of leading mobile platform with 97% market share in Korea, Kakao, has announced a new batch of initial service partners. With the 8 new partners, in addition to the already secured 26, Klaytn now has a total of 34 initial service partners, together preparing for the Klaytn mainnet launch next month. Kakao’s Blockchain Project ‘Klaytn’ Announces 8 New Initial Service Partners to Drive Mainstream Adoption of Blockchain This round of partnership includes some of the most promising projects engaged in distinctive blockchain-empowered businesses in various industry domains. 'nBlocksHunt,' operated by Neoply, the blockchain arm of one of Korea's largest game companies, Neowiz, is a gamified location-based service, backed by VR technology. Allowing users to discover and claim tokens by visiting offline stores, nBlocksHunt further facilitates the existing marketing strategy by collaborating with various shops or events.
'Directional,' a blockchain-based peer-to-peer stock lending platform for individual investors, is also joining Klaytn. The platform disrupts the existing stock lending market by allowing individuals to lend and borrow securities on P2P basis, which would give them rewards in forms of interest yields in return. It is also the first blockchain firm to participate in the newly enacted financial regulatory sandbox as selected by the Financial Services Commission of the Korean government.
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Merchant Platform Pine Labs opens its Payment Gateway APIs for developers
Publication- Tech Story
Edition- Online
Date- 30 May, 2019
Merchant Platform Pine Labs has opened its Payment Gateway Application Programming Interface (APIs) for developers. This will enable developers, including those working within merchant organizations to integrate Pine Labs payment gateway. This move is in line with the company’s commitment to enable the co-creation of innovative fintech products, and thereby empower the merchant community. The Payment Gateway API can accept payments through multiple payment modes including credit/debit cards, netbanking, bank or brand EMI, wallets and UPI. Vicky Bindra, CEO, Pine Labs said, “We, at Pine Labs, are committed to power our merchants to build successful businesses. We provide omni-channel payment processing solution, enabling 100+ forms of payments. The opening of Payment Gateway APIs is a big step in this direction.”
Vicky Bindra, added, “We would like to invite developers to integrate our Payment Gateway APIs in the platform or technology stack of their choice. We believe that, together with the developer community, we can build much more valuable technology solutions, powered by our best-in-class payment gateway, for our merchants.” Sanjeev Kumar, CTO, Pine Labs, said, “Payments have become an integral part of any online business. Our Payment Gateway APIs are easy to integrate, offer cloud based payment infrastructure, and allow easy access to reports. The developers can simply plug-in our APIs to a website and it will be ready to accept payments.” Sanjeev Kumar, added, “A simple and streamlined process enables hassle-free integration of Payment Gateway APIs by Developers. We are starting out on this exciting journey with the opening of payment gateway APIs, and plan to open up other APIs soon.”
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