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India s e-payments space: A dawn or down of retail in India?

India s e-payments space: A dawn or down of retail in India? With the government unwilling to foot the bill on digital transactions and no viable business model for banks, there are no incentives for banks to maintain the UPI infrastructure The payments space in India is tangled in various knots and there are many teething issues that will arise in the future Technology companies like Google, Facebook, and Amazon are now in a new competition amongst themselves. There is a race to digitise small businesses in India by opening digital storefronts. More than 90% of Indian retail is unorganised and large organised retailers have not been able to crack mom-and-pop stores in India called Kiranas. They also hold an undisputed sway - 98% of the grocery retail market. Therein lies the unique opportunity to make them a part of the formal organised ecosystem.

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Markets likely to witness lacklustre trade; eyes RBI s monetary policy

Markets likely to witness lacklustre trade; eyes RBI’s monetary policy April 07, 2021 × Stocks to watch out for today: Barbeque-Nation, RIL, Cholamandalam Investment, Axis Bank, M&M and Concord Drugs Markets are likely to witness another lacklustre trading on Wednesday, even as the Reserve Bank will unveil its monetary policy in the afternoon. However, global stocks continue to unsupportive of bulls, with the US and some Asian markets being listless. SGX Nifty at 14,760 (8 am IST) indicates a flat opening, as Nifty futures on Tuesday closed at 14,750. While Dow Jones, Nasdaq and S&P 500 closed marginally lower overnight, Asian markets such as Japan s Nikkei, China s Shanghai, Australia s ASX and Korea s Kospi were little changed in the morning.

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Stocks to watch: Barbeque Nation, RIL, Airtel, Tata Steel, Inox Leisure

Stocks to watch: Barbeque Nation, RIL, Airtel, Tata Steel, Inox Leisure
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Cholamandalam Investment part of Vishwakarma consortium for NUE licence

The financial services arm of the Muragappa group, Cholamandalam Investment and Finance Company, on Tuesday said it is part of the Vishwakarma Payments consortium which has submitted an application for the New Umbrella Entity license. The others in the consortium are Financial Software and Systems (FSS), a leading provider of payment products and processors, Zoho, Zerodha, Razorpay, Ujjivan Small Finance Bank, and Airpay. At least six consortiums are in the fray to bag the coveted license to set up a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. The deadline to file an application ended on March 31, 2021. So far, it is not known how many licences are on offer.

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Cholamandalam Investments joins NUE consortium Viswakarma Payments

Cholamandalam Investments joins NUE consortium Viswakarma Payments By IANS | 5 Views Govt lines up PSUs for share buyback as disinvestment falters.. Image Source: IANS News Chennai, April 6 : Cholamandalam Investment and Finance Company Ltd on Tuesday said it is one of the companies participating in a consortium - Vishwakarma Payments Pvt Ltd - that has applied for the New Umbrella Entity (NUE) license for Retail Payments with the Reserve Bank of India (RBI). Non-banking finance company (NBFC) Cholamandalam Investment is part of the city-based Murugappa Group. With aspirations to fuel a less-cash and more-digital micro-payments economy, the RBI has set up a framework to authorise pan-India umbrella entities that will focus on retail payment systems.

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