Plan and Policy

Plan & Policy

Building the case for consolidation of banks

Is the time ripe for consolidation in the Indian banking space? After the merger of the country’s largest lender State Bank of India (SBI) with its five associates and the Bhartiya Mahila Bank this month, the market is abuzz with news of more consolidation. However, this time it is among private sector banks.

Gold imports jump 582% in March on festival and wedding demand

Gold imports by India are said to have jumped almost seven-fold in March from a year earlier as jewellers stocked up anticipating a demand recovery during the wedding season that began this month and the auspicious Hindu gold-buying day of Akshaya Tritiya.

Karnataka Bank soars on ICICI’s stake buy

Karnataka Bank shares rose 9 per cent on BSE on Tuesday amidst speculation that ICICI Bank has bought a minor stake in the old generation, south-based private sector lender.
According to the shareholding pattern of Karnataka Bank as on March 31, 2017, ICICI Bank holds 30,72,445 shares or 1.09 per cent stake. ICICI Bank officials, however, clarified that the bank is only the custodian of these shares on behalf of its customers and do not own them.

You may get boarding pass on mobile, Wipro in works

Air-travellers will soon be on the digital road for a hassle-free flight. After doing away with security tags from handbags at some airports, the aviation ministry is considering digital boarding pass.
The ministry has engaged tech giant Wipro to prepare a roadmap for transforming the sector using digital platforms. The move is part of the government’s flagship Digital India initiative.

Digital offline seeks to broaden customer base

Despite fast growth in the e-commerce space, online is still a miniscule portion of the offline retail market.
Therefore ‘digital offline’ or assisted e-commerce is the new model being experimented by online companies to reach out to that substantial lot of customers reluctant to transact online, without burning cash on customer acquisition.
Nandan Nilekani-backed ShopX has already tied up with 45,000 retailers in 230 towns in the south and west of the country. The target is to get 10 lakh retailers on board in three to five years, as it becomes a pan-India operator.

Bigger taxpayer base on cards as govt pushes recovery button

Windfall gains are expected from multiple strikes at tax evaders, as the Centre goes full throttle in the recovery mode.
Starting this year, the taxpayer base is set to increase with measures like curbing cash transaction of more than Rs 2 lakh, digital push and compulsory linking of Aadhaar for filing tax returns.

Go for home loan now, no further rate cut seen

Existing home loan borrowers linked to base rates are likely to see their EMIs fall this year. However new borrowers, who are linked to MCLR, are unlikely to see any steep reduction in their equated monthly instalments (EMIs). Beginning April, a few major banks — State Bank of India, Axis Bank and Indian Overseas Bank — have announced a cut in their base rates and more banks are likely to follow suit.

Settling EPF claims via phone to be a reality soon

Members of retirement fund body EPFO will soon be able to settle their claims like EPF withdrawal through mobile application Umang.
"The Employees' Provident Fund Organisation (EPFO) is developing online claims settlement process by receiving application online," labour minister Bandaru Dattatreya said in a written reply to the Lok Sabha.
The minister also said, "The application will be integrated with Unified Mobile App for new-age governance, (Umang) App, to receive the claims online. However, the timeframe to roll out the same has not been finalised."

Are You Marketing or Selling?

Many entrepreneurs confuse sales with marketing or vice versa. And it is not very different for some of the learnt senior executives too. I remember one very successful HR specialist-turned- politician who believed these to be one and the same. I guess it is a perennial issue in the business world: Are sales and marketing different or the same? Should it be different functions or the same?
Do executives mean sales when they say marketing?

RBI gives banks new investment avenues

Reserve Bank of India on Thursday allowed banks to invest in Real Estate Investment Trust (REITs) and Infrastructure Investment Trust (InvITs), bringing in a positive sentiment among the listed realty and infrastructure players, in particular and other stakeholders of the country’s realty sector, in general. However, further clarity is needed on the modus operandi and the apex bank indicated that the detailed guidelines will be issued by end-May.