From the Editor's Desk It costs a bank Rs 48 to handle a bank premise-based transaction, Rs 18 to handle an ATM transaction and Rs 1 to handle a mobile-based transaction. Banks clearly have an incentive to get people to transact on the mobile phone. Mobile wallet startups like PayTM, given their technology advantage, lack of legacy, and wide network of merchants and consumers, are well positioned to overtake traditional banks when it comes to mobile transactions. RBI's Unified Payment Interface (UPI) promises to make it easier for consumers to use their mobile phone to transact with merchants. Add in the PM's Jan Dhan Yojana and India has an opportunity to get the 200 million plus unbanked into the banking system - through the mobile phone! How quickly we move to a cashless economy will depend on ease of use (still some work to be done here) and marketing and communication that informs and builds trust - Comment
Online doctor consultation platform DocsApp gets $1.2 million in seed funding from Facebook's angel investors Doctor consultation app DocsApp has secured seed investment of $1.2 million (Rs 8 crore) from investors led by Japanese venture capital firm Rebright Partners. Early Facebook investors Anand Rajaraman and Venky Harinarayan also invested in this round, DocsApp said in a statement. The startup will use the funds to expand its operations, recruit talent and develop technology. The app, run by Phasorz Technologies Pvt. Ltd., was founded in 2015 by IIT Madras alumni Satish Kannan and Enbasekar Dinadayalane.
Internet is about to overtake TV, radio, and print combined in China: Report China, with its 688 million internet users, is about to hit another major milestone in its shift to digital. This year, the amount of time that adults in China will spend with digital media every day will surpass the time they spend with traditional media for the first time, according to new data from eMarketer.
Modern retail grinds to a halt, almost The modern retail trade recorded one of its slowest-ever sales growth in 2015 as consumers cut back on discretionary spends at supermarkets amid an economic slump.
Franchisee Journey: Rags-to-riches stories from DTDC, India DTDC has carved a niche for itself in the market as a company that 'Builds Life' by creating job prospects for thousands along with entrepreneurial opportunities for many more. Today, DTDC has more than 5800 channel partners across India, and more than 80 percent of these franchises are run by first-time businessmen, who are often under-graduates and from under-privileged backgrounds.
India's rise prompts fresh hope, new fears Launching my book India Rising: Fresh Hope, New Fears last week, Emeritus Senior Minister Goh Chok Tong drew a subtle distinction between a rising India and a shining one. For the latter to happen, he said, India must proceed steadily down the path of economic reform, development and modernisation. It must, in particular, pay greater attention to the development and skill training of its workforce in order to find jobs in the future economy.. Read more at straitstimes.com.
Govt insists on 80% jobs for sons of soil When the Devendra Fadnavis-led BJP government recommended the case of Reliance Defence Ltd (RDL) for setting-up of a unit in Mihan (multimodal international cargo hub and airport) at Nagpur to the Board of Approvals under the special economic zone Act, it was made clear that the unit will have to give employment to locals.
Adobe sees huge digital marketing potential in India : Report India is one of the leading countries for Adobe's revenue generation in digital marketing globally, a senior executive of Adobe Systems India Pvt Ltd said here on Wednesday, adding that the Asia Pacific region is the fastest growing market for the company and stands among the top 10 markets in the world.