Daily News Podcast: Amazon India launches seller lending network : Bulletin: Business Today
Business Today

Daily News Podcast: Amazon India launches seller lending network

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June 14, 2018

Modi government constructed 73% more highways compared to UPA's last 4 years
Recent data released by the Ministry of Road Transport and Highways (MoRTH) indicates that the Narendra Modi government has built 73% more highways in its first four years in office as compared to the last four years of the former UPA government. This is a momentous achievement which the NDA government can, in the run-up to the 2019 general elections, not just look up to, but possibly even take advantage of to remain in office. So far, the incumbent government has constructed a total of 28,531 km national highways since FY 2014-15, contrasting with 16,505 km by the previous government.

No need to share Aadhaar number from July 1 for mobile SIMS; Virtual IDs to be used
The Department of Telecom (DoT) released a circular on Tuesday asking all telecom operators to work on a mechanism that employs Virtual IDs instead of the sensitive biometric data. This step will help UIDAI restrict the massive flow of data to major telecom companies. The companies will now have to use Virtual IDs and Limited KYC, which essentially mask user data and hence avoids blatant sharing of sensitive data. The implementation of this new service launched by UIDAI is due on July 1. Telecom companies are expected to make the necessary changes in their data verification method.

Cabinet clears HDFC Bank's proposal to raise Rs 24,000 cr via FDI
The government today approved the proposal of HDFC Bank to raise additional capital Rs 24,000 crore by selling equity to foreign investors to fund its business growth. This includes premium, over and above the previous approved limit of Rs 10,000 crore, that the composite foreign shareholding in the bank should not exceed 74 per cent of the enhanced paid-up equity share capital of the bank, Finance Minister Piyush Goyal said after the Cabinet meeting chaired by Prime Minister Narendra Modi. With the raising of this capital, FDI in the bank will hit the regulatory ceiling of 74 per cent, he said. Currently, the FDI in the banks stands at 72.62 per cent. As per the RBI guidelines, foreign holding in public sector banks in India cannot go beyond 74 per cent.

Amazon India launches seller lending network 
Amazon India has launched its Seller Lending Network (SLN), which will allow sellers on the e-commerce major's platform to seek loans from multiple third party lenders. Amazon India has partnered organisations like Aditya Birla Finance, Bank of Baroda, Capital First, Capital Float, Flexiloans, and Yes Bank for the lending programme. "With this launch, a seller can perform all loan-related activities including viewing multiple loan offers, applying for loans and easy/automatic loan repayments by linking their Amazon sale proceeds to their loan account, all on Amazon's Seller Central portal," Amazon India said. Amazon India, which is locked in an intense battle for market leadership with homegrown player Flipkart, has about 3.4 lakh sellers on its platform.

Customer expectations at an all-time high, says Salesforce Connected Consumer report
The second edition of Salesforce's State of the Connected Customer report states that customer expectation is at an all-time high. Based on the survey of over 6,000 respondents globally, 80 per cent of the customers stated that the experience a company provides is as important as its products, and 67 percent said that their standards for those experiences are higher than ever. Around 95 percent of customers said they are more likely to be loyal to a company they trust.The report also suggests that companies are missing the mark on 'experience'.

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