From the Editor's Desk Imagine a bank heist where the robber takes out a gun, asks the bank staff to put money into a bag, only to be told that they do not have any cash. When the robber looks confused, he is directed to a poster on the wall that proclaims this a "cash-free" location. "It's true," the manager tells him. "Sorry." Well, this is what happened on April 22, 2013 at Stockholm's Ostermalmstorg branch of Skandinaviska Enskilda Banken. Crime is the single most important consideration in the global transition to cashless. The criminal economy depends on the anonymous, untraceable nature of cash. Indeed, much of the cash in the world, maybe most of it, is simply unaccounted for. The World Bank estimates that about a third of the cash in most countries circulates underground, in black markets and through illegal employment. Take it away and thieves have no foolproof way to sell their stolen goods, drug dealers no way to hide their deals. Atleast till a new sophisticated cyber-criminal emerges! - Comment
Apple's India head search ends with promotion of Sanjay Kaul Cupertino-based technology giant Apple Inc has elevated sales director Sanjay Kaul to the post of country manager. Apple India has been without a country head for nearly four months after it saw two top level exits earlier this year. Although there has been no official communication from the comp
Top television ads in March: 4G follows Airtel girl to no.1 spot The face of the Airtel 4G, Sasha Chhetri, is known to all, as, in the words of Airtel, the ad campaign was a bit too much. Apart from her maturity in dealing with feedback, what helps is that the new series of commercials take the story forward, writes Suveen Sinha.
RBI may allow you to be a lender The RBI's move to regulate the peer-to-peer (P2P) lending business has evoked good response with most participants saying that it could provide greater confidence to lenders and borrowers, as also to venture capitalists.
Alstom India to restructure operations, cut jobs Engineering firm Alstom India said it would restructure operations, citing slow down in the power sector. The exercise would result in job cuts, but the company did not disclose the quantum. Acco
All services of transport department to be made online At a review meeting held with transport department principal secretary Syam Babu, district transport commissioners (DTCs) of 13 districts and all motor vehicle inspectors at RTC House here on Sunday, the minister said corruption is rampant in all government departments and the transport department is not an exception. He said the employees should feel responsible.
Titan to acquire online jewellery store CaratLane : Report Titan will acquire the Chennai-based online jewellery store CaratLane, the company informed the BSE. The acquisition will be an all cash deal, and is expected to be completed by mid June this year. Titan is expected to acquire a majority stake in CaratLane, although the exact number of shares ar
TinyOwl Roadrunnr to merge: report; Investor details Online food delivery startup TinyOwl and logistics startup Roadrunnr are reportedly going to be merged into a product called Runnr, reports the Economic Times. MediaNama contacted TinyOwl c0-Founder Gaurav Choudhary for comments, but he declined to confirm or deny the development. We’ve not hear