"Our mission is to make paying for anything trusted, convenient and rewarding. We are excited by the rapid adoption of UPI, which now enables customers to do much more with their Amazon app beyond shopping," Mahendra Nerurkar, CEO and VP Amazon Pay, said.
Addressing the 97th annual general meeting at Karnataka Bank's head office in Mangaluru through video conferencing, M S Mahabaleshwara said powered by its IT-driven wholistic transformation 'KBL Vikaas,' the bank is now preparing for the second phase under 'KBL NxT' concept to have end-to-end digital solutions for all banking activities.
The 100% acquisition of Exide Life will be through issuance of 8,70,22,222 shares at an issue price of Rs 685 per share and a cash pay-out of Rs 726 crore. The entire process, including the acquisition and subsequent merger, is subject to obtaining the relevant regulatory approvals, HDFC Life said in a statement on Friday.
“Currently technology spends as a % of opex is around 8-9%, this in our view, will double to 18-20% if management is going to significantly increase investments and is in line with some global peers,” said Suresh Ganapathy, associate director, Macquarie Capital. “Cost/Income ratio may go up from current 36% to 39-40%.”
CEO Sameer Nigam says the company can do scant little to reduce UPI market share. PhonePe has emerged as the largest UPI app with over 45% monthly market share, beating rivals like Google Pay, Paytm and Amazon Pay.
The investment firm is convinced of the Indian market's potential to deliver hefty returns to even later-stage investors like the South African group, says Prosus group chief executive Bob van Dijk
Banks are now permitted to raise up to 49 per cent of the eligible AT1 capital in foreign currency. However, a debate over what is eligible capital brewing.
This will be the first equity expansion by the company after the Covid-19 pandemic, chief executive Sanjay Sharma said.
If you want to get to scale, you are better off joining forces and doing an M&A, says Bob van Dijk
With the country’s remaining 300 million feature-phone users going online, there will be a surge of customer data that can stand in for collateral. The question is, how will banks get their hands on it?
“In the said case, this was done without their consent and misusing the power of attorney. The securities were transferred into the demat account of KSBL and pledged before the bank for margin and short term requirement in the business of KSBL from March, 2013,” the police said in a press release.
The agency has filed a money-laundering case to probe the alleged loan fraud in the Punjab and Maharashtra Co-operative (PMC) Bank in October, 2019 against the Housing Development Infrastructure Limited (HDIL), its promoters Rakesh Kumar Wadhawan, his son Sarang Wadhawan, its former chairman Waryam Singh and former managing director Joy Thomas.
Regulators agreed to allow banks, pension funds, tax authorities, insurers and other finance firms to pool together customer information -- once the user consents -- to make transactions smoother. If the system works, firms will be able access large amounts of data within seconds to assess the creditworthiness of a small business, recommend a wealth management product for an individual, or tailor an insurance policy for a family.