Parle Agro Spends Around Rs 100 Crore On Frooti Fizz Ad Campaign
The ‘FrootiGoFizzy’ campaign featuring Alia is backed by a budget of Rs 100 crore and has been created by New York based Jessica Walsh who is partner at Sagmeister & Walsh. S&W has been associated with Parle Agro earlier on Frooti and Appy Fizz campaign. The music for the campaign comes from one of the Bollywood favourites Amit Trivedi. The TVC has been directed by Clim from Hornet. Read More |
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ITC aims to corner 20% market in packaged fruit juice in 5yrs
ITC is expanding its juice portfolio with an aim to garner around 20% market share in five years in the packaged fruit juice segment, currently estimated to be around Rs 2,500-crore. Apart from adding new flavours and focusing on local fruits, the company is expanding its sales network to meet the target. The firm also plans to expand retail points of its luxury chocolate brand Fabelle and take it outside its hotel premises, where it is only available currently. Read More |
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Nestle looks to bring some global brands to India
Nestle India is exploring ways to bring some products from its 2,000 global brands to the country and also reduce dependency on a single brand. With emphasis on innovation and renovation backed by research and development, last year, the focus was on re-energizing the existing brands, launching new brands and getting into new categories. The strong and unrelenting efforts across all parts of the organization led to an unprecedented over 30 new products and variant launches across almost all categories in a short span of time. Read More |
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Patanjali eyeing Rs 1000 crore revenue from sale of citrus fruit juices
Patanjali is eyeing close to Rs 1000 crore of revenues through citrus fruit business. It plans to set up Rs 100 crore manufacturing plant in Nagpur SEZ for making Mandarin orange juice and others. The company had purchased this plant from an Italian food tech company and is now in the process of remodeling it to suit the Indian market. The processing capacity of the plant is about 800 tonnes a day and Patanjali plans to scale it up to 1 lakh tonnes a day in both the season when oranges are harvested. Read More |
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PepsiCo profit beats on demand for healthier snacks, drinks
PepsiCo reported a 41.6 percent jump in quarterly profit. Revenue rose to $12.05 billion, the second quarter of rising sales after eight quarters of decline. The company is investing heavily in developing products to meet the changing tastes of consumers, who are increasingly seeking healthier options. Read More |
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Japan’s Nomura Partners Google, IBM & Amazon for Fintech Program in India
Nomura has announced ‘Voyager-Nomura FinTech partnership’ in India with firms like Google, IBM, Amazon and PwC. These companies will serve as a knowledge partner. This partnership focuses on tapping into the growing innovative developments in mid and high-growth stage FinTech startups in the country. The program sees the Japanese financial institution welcoming Indian startups to build and develop solutions specifically in capital markets and investment banking. Selected startups, as a part of the ‘Voyager’ program, will gain access to the Japanese firm’s existing infrastructure and technology at the Nomura Innovation Center (NICe), established in India’s industrial capital of Mumbai. Read More |
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Unicorn India Ventures makes maiden investment in fintech with SmartCoin
Early-stage venture fund Unicorn India Ventures, which is set to close its maiden fund in the range of Rs 100 crore, has made its first investment in the fintech space, leading a round of about half-a-million dollars in Bengaluru-based microlending startup SmartCoin. The startup offers loans starting from Rs 1,000 and is targeting individuals beyond the salaried class, including cab drivers, delivery persons and kirana store owners, and has tied up with a few nonbanking finance companies (NBFCs). Read More |
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Financial institutions feeling fintech heat, says PwC study
According to PwC’s Global FinTech Report, 67% financial institutions believe their business is at risk from fintech firms and as many as 95% of incumbents seek to explore fintech partnerships to boost innovations. As per the report, consumer banking and payments and fund transfers are the segments which are already witnessing disruption, with a maximum number of consumers already utilising the services of fintech players in these segments. The analysis in this report is based on a nationwide survey of 45 Indian financial services and fintech executives, mapped against a global survey of 1,308 participants from 71 countries and also includes insights and proprietary data from PwC’s DeNovo platform. Read More |
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Paytm as it Morphs from Fintech Startup to Finance Startup
At the launch of Paytm Digital Gold, Vijay Shekhar Sharma the founder of Paytm informed that Paytm is ready to become a wealth management financial services provider. He said that “It’s more about being a finance startup than a fintech startup, because I think the country is being built around financial services not just technology. This is the time we are seeing financial services see a breakthrough of this scale.” Read More |
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Fintech start-ups expand investment options for non-urban users
Most of the consumer-facing fintech startups told BusinessLine that small towns (Tier III and IV) now form 25-30% of their total consumers investing in mutual funds and equity markets as against a mere 2-3% about four years ago. According to data from research firm Tracxn, of the 238 start-ups that have emerged in the past 3-4 years, 138 are fintech-related. Ease of transaction and the convenience linked with applications offered by fintech players is driving consumers from small towns to explore investment products beyond recurring or fixed deposits offered by traditional banks. Read More |
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Citi India launches paperless cross-border payments for corporates
Citi India has launched new digital cross-border payment solution that eliminates the need for multiple, underlying physical documents for cross-border trade payments. The solution aims to substantially reduces time, effort and cost of each transaction by facilitating quicker trade payments. With Open Account import payments, Citi’s clients can now directly share import payment information with the bank, by simply quoting Reserve Bank of India’s (RBI) Import Data Payment and Monitoring System (IDPMS) number, as against the earlier process of sharing multiple documents to support a single payment. Read More |
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PayPal teams up with Android Pay for mobile payments
PayPal is joining forces with Google’s Android Pay mobile payments platform, the companies announced this morning – an effort aimed at allowing PayPal to expand its footprint both within mobile applications as well as at brick-and-mortar retailers. The partnership will see PayPal becoming available as a payment method in the Android Pay service, which will allow U.S. users to pay for things like Uber as well as at retailers like Walgreens, and restaurants like Dunkin’ Donuts and Subway. Read More |
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WhatsApp plans Indian digital payments
WhatsApp is preparing to enter India’s booming digital payments industry. Any payments service would be Facebook’s first attempt to offer mobile payment services on WhatsApp. WhatsApp declined to discuss its plans for payments in India, but said it was exploring ways to support the government’s “Digital India” drive. Read More |
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PayPal extends partnership with Visa into Asia-Pacific region
PayPal Holdings Inc. and Visa Inc. are extending their partnership into the Asia-Pacific region. This move is aimed at boosting transactions via digital payments for both companies. The partnership makes it easier for Visa-issuing banks in the Asia-Pacific region to offer cardholders the ability to make payments anywhere PayPal is accepted online, and it also expands the use of PayPal to retailers that accept Visa in physical locations. Read More |
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Airtel Payments Bank gets 1,000 villages to go digital
Airtel Payments Bank, the first company to receive a payments bank license from the RBI on April 11, 2016, is also the first off the block to launch the services, aimed at bringing the un-banked into the banking fold. The company’s payments bank initiative is aimed mainly as a rural foray, and it has already brought about 1,000 villages under the digital initiative. In these 1,000 villages, about two-thirds of the households have at least one savings bank account, while every village now has at least one banking point that enables citizens to access banking services. Read More |
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India’s is the world’s 7th largest tourism economy in terms of GDP, says WTTC
According to a new report of the World Travel and Tourism Council (WTTC), India’s travel and tourism sector ranks 7th in the world in terms of its total contribution to the country’s GDP. the travel and tourism sector generated Rs 14.1 trillion (USD208.9 billion) in 2016, which is world’s 7th largest in terms of absolute size; the sum is equivalent to 9.6% of India’s GDP. Read More
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Kerala to boost tourism through live streaming tech
The Kerala government is planning to use its own live streaming technology to tap tourists’ experiential accounts of the destinations they visit. Considering its potential for tourism promotion in India, a group of young professionals from Kerala, with the support of the state Tourism Department, is all set to explore live streaming as a major campaign tool for the upcoming second edition of International Conference on Tourism Technology (ICTT) here. Read More |
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Maharashtra government ropes in Ola as official mobility partner to promote tourism
Cab aggregator Ola has signed a Memorandum of Understanding with the Maharashtra Tourism Development Corporation as the official mobility partner for the state to promote tourism in congruence with the government’s ‘Visit Maharashtra 2017′ campaign. Ola will co-create a training programme along with the government to develop drivers’ skills in this category to learn the history and culture of landmarks in the city which will enable them to function as informed guides as well. Read More |
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After SBI merger, now Punjab National Bank and Bank of Baroda may take over smaller lenders
The government is working on a road map for the overhaul of state-run lenders that involves the next round of consolidation, public offers in the next few months by banks to raise fresh capital, and changes in the hiring policy, including increased lateral entry. This could see Punjab National Bank (PNB) and Bank of Baroda taking over smaller lenders. Under this move Punjab & Sind Bank can be merged into Punjab National Bank. Big lenders like Bank of Baroda can take over some turnaround banks in the southern region, like Indian Overseas Bank. Read More |
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Dhanlaxmi Bank,Catholic Syrian Bank ideal cases for merger
According to experts, Catholic Syrian Bank and Dhanlaxmi Bank will either be merged or an acquisition of these banks is expected to happen soon. India is marching towards the idea of fully digital banking. Under the scenario, consolidation of small banks will be the new normal. Now banks are investing more on technology which smaller banks could not do. Hence, it is irreversible that consolidation of small banks would happen. Read More |
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South Indian Bank, Flyworld Money in pact for remittances
South Indian Bank has entered into an agreement with Flyworld Money Exchange to facilitate remittances by Indian expatriates in Australia. Through this tie-up, NRIs in Australia could enjoy quick and cost-effective remittances to India using the SIB Express facility. Using this facility, NRIs can now remit funds with ease to any commercial bank in India. SIB has a correspondent banking arrangement with National Australia Bank for remittances to India. Read More |
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