February 2024 – Page 67

Parliamentary panel concerned about Walmart-backed PhonePe, Google Pay’s dominance in UPI market

The committee further added that fintech firms must be asked to generate awareness around safe transaction methods and bogus methods used by fraudsters to dupe people, through their app's interface in the form of creatives, pop-ups etc. (Image source: Unsplash)

Parliament’s Standing Committee also expressed deep concern on the “trust deficit” in India’s digital payment system, citing a loss of Rs 5,574 crore to cyber frauds in just six months between April and September of 2023.

Wall Street predictions too optimistic? Google, Snap record poor digital ad growth figures

The difference in these projections is not a couple of thousands but thousands of crores. To be precise, the gap between Dentsu and GroupM AdEx projections is Rs 53,795 crore. (Representative image by Josh Appel via Unsplash)

Wall Street’s prediction of 14 percent increase in digital advertising in 2024 might just have been too optimistic.

Layoffs saga: Licious lays off 80 employees as part of operational reset

Licious, as per reports is the only unicorn in its sector that has witnessed a gradual slowdown over the last year. (Representational image via Unsplash)

Those laid off are being given two months salaries in compensation, in addition to the variable payment for FY24.

Paytm Payments Bank board see two independent directors resign

Well, the FinTech versus bank debate has been a long-standing one. The RBI recently granted Zomato Payments Private Limited a payment aggregator license. This allows the company to allow e-commerce transactions on its platform.

As of now, post the exits, PPBL’s board consists of three independent directors. Arvind Kumar Jain, former executive director, Punjab & Sind Bank, ex-Accenture managing director Pankaj Vaish, and former Department for Promotion of Industry and Internal Trade (DPIIT) secretary, Ramesh Abhishek.

For us, financial inclusion is enabling small merchants looking to go online: Razorpay’s Rahul Kothari

In the second part of Razorpay’s interview with Storyboard18, Rahul Kothari, chief operating officer, Razorpay, discusses how the company has been operating after the Reserve Bank of India lifted its ban on onboarding new customers, industry trends, advertising methods, and more.

In a wide-ranging chat, Rahul Kothari, Razorpay’s chief operating officer, discusses the company’s new campaign, the rationale behind choosing Gulshan Grover and Urvashi Dholakia for the ad film, key consumer trends in the fintech landscape, diversity in fintech and financial inclusion.

IPL 2024: Digital streaming set to transform viewing and brand experiences

The plan to simultaneously stream the tournament across multiple feeds in 12 languages on all devices showcases the power of technology, providing an estimated 600-650 million viewers with unprecedented flexibility and accessibility.

Kashmir bat manufacturers’ body sue Sony and Tramboo Sports over false claims made on Shark Tank India

The episode featuring two young Kashmiri entrepreneurs, Saad and Hamad was aired on January 30, 2024.(Image sourced from @sharktank.india via Instagram)

CBMAK has sued both the channel and the company and demanded a compensation of Rs100 crore alongside an on-air apology within 15 days.

Paytm’s independent director Manju Agarwal resigns

At SBI, Manju Agarwal conceptualised and launched YONO, SBI’s digital bank, financial superstore and online marketplace. She led SBI’s partnership with Reliance Industries Ltd to set up Jio Payments Bank Ltd.

Manju Agarwal is also an independent director at Hinduja Leyland Finance, Vistaar Financial Services, IndiaIdeas.com, Gulf Oil Lubricants India, Polycab, Switch Mobility, CMS Infosytems and Glenmark Life.

CAIT: Paytm fiasco not to shatter confidence on digital payments

Pai Platforms is not the first fintech to do this. PhonPe, a rival of Paytm’s too launched Pincode, an app on ONDC last year. (Image sourced from CNBC)

CAIT concerns on PAYTM ecosystem arising out of RBI action.

Unilever CEO says negative pricing helped see volume growth in India

Unilever talks about creating proUd, its global employee resource group whose mission is to be 'a beacon of inclusion for people in the LGBTQI+ community and allies, amplifying their voices in society and at Unilever'. (Image sourced from Unilever's website)

We have seen a volume growth, so the minus 2 percent on pricing was balanced by a 2 percent volume growth. I think that’s a positive for India,” Unilever CEO Hein Schumacher said in an earnings call.