FMCG Industry Likely to Grow by Over 15% in 2-3 Years
The fast moving consumer goods industry, that witnessed a slowdown for the past three years, has a potential to grow by more than 15% over the next 2-3 years if players in the sector focus on improving brand penetration, a recent study revealed. Food emerged as the fastest growing segment at 10% with larger towns and more affluent consumers driving this growth. On the other hand, home care grew at 9%, which was driven by less affluent consumers residing in small towns and rural areas. More Info |
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FMCG Sector to Explore Rural Markets via CSCs
The fast-moving consumer goods sector is expected to get a rural boost with government’s move to sell goods via the common service centres (CSCs) in rural India. FMCG companies will now be able to sell their products via the 25000 CSCs located across the country. With this initiative, people will be able to come to these centres to orders goods online via the respective companies’ websites or the marketplace run by CSCs. The products will be delivered to their homes directly. More Info |
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Only One in Seven Brands Wins in FMCG, CII-Bain & Co.
According to a report by industry body, CII and consultancy, Bain & Company on India’s FMCG sector, only one in seven brands was a winner currently, showing a decline in success rate. Intense competition is throwing up more losers in the FMCG space in India. Significantly, while market leaders in 19 out of 22 categories maintained their leadership position during 2014 to 2016, about 505 lost market share. More Info |
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FMCG Companies Turn Focus to ‘Healthy’ Snacking in India
With Baba Ramdev’s Patanjali bringing out the natural supplements in its products, brands have rushed to position themselves ahead of the race and produce healthy foods in India. Multinational brands like Rasna, Hain Celestial and Pepsi announced the launch of ‘healthy snacking’ all in the second month of 2017. More Info |
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Pulse Candy Records Rs 300 Crore Sale in Indian Market Over Past 2 Years, Beats Oreo and Mars Bars
Within 2 years of its launch, Pulse candy has clocked sales of Rs 300 crore in 2016. Industry experts opine that Pulse turned successful in the Indian FMCG sector due the uniqueness it offers. While Oreo drew sales of Rs 283 crore, Mars Bars clocked Rs 270 crore of sales. More Info |
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Nestle Launches a Milk Beverages ‘MILO’ for Children
Nestle has launched a milk beverage ‘Milo’ for children with less than 10 grams of sugar per pack. The drink will be available in major urban centres, as well as select e-commerce platforms. More Info |
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Fintech companies may see more investor interest this year: Report
According to KPMG Global Fintech trends report, Financial technology companies may see additional investor interest this year after the government’s push to digital transactions post demonetization drive. As India continues to push its digital currency initiatives, there are opportunities for novel product development within the space, as a number of entrepreneurs look to utilise blockchain protocols or present better use cases for consumers looking to gain exposure to bitcoin. More Info |
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YES Bank Chooses 12 Startups for Fintech Business
Continuing its engagement, YES Bank selected 12 startups for its fintech business accelerator programme. SoCash, Signzy, Rupeeseed, Redcarpet, R1mo, Paykey, Numberz, Morph.Ai, FRS Labs, Click and Pay, Authme, Anytime Loan are the 12 startups selected by YES Bank. These startups have been working on fintech transactions, lending, cyber security, risk intelligence, big data, analytics and other segments. They were selected by screening through 753 applications from 18 countries. More Info |
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These are The Fintech Segments Most Likely to Grow in 2017
A study by PwC and UK-based FinTech accelerator Startupbootcamp FinTech London revealed that, three fintech segments saw the largest growth in the overall share of applications. These were cloud and core processing solutions, which grew from 14% in 2015 to 22% in 2016; artificial intelligence (AI), machine learning, and blockchain technology, up from 12% to 16%; and shifting customer preferences” (i.e. customer segmentation and product personalization solutions), up from 11% to 14%. More Info |
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Fintech Startup and Challenger Bank Revolut’s Launching an Amazon Prime-Style Subscription for Banking
Fintech startup Revolut is launching an Amazon Prime-style subscription service as part of ambitious plans to monetise and is embarking on plans to raise millions of pounds in fresh funding. A premium account priced at £6.99 per month or £72 per year will give users access to unlimited money transfer services at interbank rate without fees via the Revolut app. More Info |
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Fintech in Southeast Asia: Deals Up in 2016, But Dollars Down
Southeast Asia recorded the largest number of fintech deals backed by venture capital (VC) firms last year, since 2012, but deal value during the 12-months ended December 2016, were lower when compared to the corresponding period the previous year. In 2016, about 71 fintech firms raised funding from VCs, amounting to $158 million, when compared to 55 deals in 2015 which were valued at $177 million, according to data compiled by CBInsights. More Info |
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Financial Technology Start-Up Qbera Launches Operations in Bengaluru
Bengaluru-based online fintech start-up Qbera has launched its operations on Thursday, focusing on loans for those earning less than Rs 6 lakh per annum. With a loan processing time-frame of 24 hours, Qbera, in association with RBL Bank, claims to offer an easier and faster process compared to regular banking. More Info |
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Kotak Bank likely to Buyout M&M Financial Services
Kotak Mahindra Bank is planning to raise capital selling shares triggering speculation that it may raise as much as Rs. 10,000 crores for a possible buyout of a non-banking finance company, which may be Mahindra & Mahindra Financial Services Ltd. Speculation has been rife that Kotak who bought ING Vysya in 2014, is eager to grow his business through acquisition when valuations are a lot more attractive. More Info |
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China Overtakes Eurozone as World’s Biggest Bank System
China’s banking system has surpassed that of the eurozone to become the world’s largest by assets. Chinese bank assets hit $33tn at the end of 2016, versus $31tn for the eurozone, $16tn for the US and $7tn for Japan. The value of China’s banking system is more than 3.1 times the size of the country’s annual economic output, compared with 2.8 times for the eurozone and its banks. More Info |
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Ujjivan Small Finance Bank Opens 6 New Branches in Bengaluru
Ujjivan Small Finance Bank has strengthened its presence in Bengaluru by opening six new branches. The branches are located at Magadi Road, Chandra Layout, Chamarajpet, Uttarahalli, Devaiah Park and Nelamangala. Ujjivan commenced its banking operations last month with five pilot branches in Bengaluru. Over the next few months, the bank is planning to open 12 more branches in the city and expand its presence across 24 States in a planned and phased manner. More Info |
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Banks May Get Incentives for Digital Push
India may give banks an incentive of up to Rs 10 for each transaction to encourage merchants to adopt digital modes of payment, helping achieve the objective of a less-cash economy that makes tax evasion easier to detect. According to a government official, the proposal is to provide an incentive of 0.25% on the value of a transaction, capped at Rs 10, made on the biometric-based payment system Aadhaar Pay and UPI platform BHIM. More Info |
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Truecaller Adds Payments and Google Duo Video Calls in Move to Rival WhatsApp in India
Truecaller’s largest market based on its 150 million users, the company announced a series of partnerships, including a tie-in with Google which will see the U.S. firm’s Duo newly launched video calling feature integrated into the Truecaller app. The Truecaller app, which is dedicated to battling annoying calls, is about to become much more than that. In addition to the Duo tie-in, Truecaller is boosting the app by integrating Truemessenger, its two-year-old service for making messaging smarter and managing spam. More Info |
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Govt Disburses Rs 226 Crore as Incentives for Digital Payments
The Centre has disbursed Rs 226 crore to more than 14 lakh consumers and 70,000 merchants in the last 90 days under Niti Aayog’s two digital payment schemes, Lucky Grahak Yojana and DigiDhan Vyapar Yojana, for consumers and merchants respectively. More Info |
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Mastercard Teams With Oracle to Expand Digital Payments Presence in Hospitality, Retail
Mastercard has teamed up with database technology developer Oracle to expand digital payments in the hospitality and retail industries. A big part of the effort will revolve around Qkr, Mastercard’s mobile app that allows users to make orders and pay for them, with Mastercard having so far emphasized its applications for food orders. More Info |
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Global Digital Payment Major Payoneer Eyes Big Play in India
New York-headquartered digital payments services provider, Payoneer is reaching out to entrepreneurs, freelancers and small & medium businesses (SMBs) in India, to use their platform to pay or receive payments from overseas in international currencies at a reduced cost. Operational in India since August 2016, Payoneer conducts transactions for businesses across the globe spread across 200 countries and providing platform to transact in about 150 currencies. More Info |
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Google.org Announces $50m for Education and Tech
Google.org announced a $50 million commitment to education nonprofits over the next two years. The funding will be focused on three areas in which the organization believes technology can improve education in developing countries: providing access to quality learning materials; training and engaging teachers; and helping students in crisis and conflict zones. Nine organizations will receive funding at first, with another round of organizations to be added later in the year for a total of 20 by the end of 2017. More Info |
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India’s first listed ecommerce entity, Infibeam, to venture into edu-tech
Infibeam Incorporation, India’s first listed ecommerce entity, is preparing to venture into the fast-growing education-technology sector that it expects will be a reservoir of loyal customers. The company plans to provide a wide range of services, including customized facilities, to educational institutions under this venture. It will be powered by DRC Systems, a provider of enterprise resource planning technology that Infibeam acquired this month. More Info |
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