Mobile wallet transactions hit record ₹14,632 crore in June, shows RBI data

Source:, Aug 07, 2018

New Delhi: The value of transactions made through mobile wallets touched a record ₹14,632 crore in June, Reserve Bank of India (RBI) data released on Tuesday showed, rising 4.2% from ₹14,047 crore in May.

However, the number of transactions fell around 5% to 309.62 million in June after reaching an all-time high of 325.41 million in May.

The record transaction value shows wallet companies, which were struggling to set up compliance infrastructure and convince users to provide know-your-customer (KYC) documents, have survived the storm and signed up new customers.

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India Inc’s external borrowing jumps 66% to $2.71 bn in Jun

download (1).jpgSource: The Economic Times, Jul 30, 2018

India Inc raised USD 2.71 billion through external commercial borrowing (ECB) and rupee-denominated bonds (RDBs) in June 2018, up by 66.3 per cent over the same month last year, the RBI data released today showed. Indian companies had raised USD 1.63 billion from overseas sources in June 2017.

The domestic firms raised over USD 2.66 billion by tapping external commercial borrowing (ECB), while USD 49.42 million by way of issuing rupee denominated bonds (RDBs), according to the RBI data.

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Mastercard plans to invest around Rs 16.25 billion in India by 2019

download (3)Source: Business Standard, Jul 27, 2018

Mumbai: Global payments network Mastercard plans to invest around Rs 16.25 billion in India by 2019 to boost digital payments in the country.

The company said it was on track to invest Rs 65 billion between 2014 and 2019, and had already invested 75 per cent of the amount. Mastercard recently opened a technology centre in Vadodara, in addition to new offices in Bengaluru, Gurugram, and a Mastercard innovation lab and operations hub in Pune. The company’s India workforce comprises 14 per cent of its global staff strength, and is the largest outside the US. “We strongly support the government’s push towards establishing India as a less-cash society and have continuously invested in this vision,” said Porush Singh, corporate officer, India, and division president, South Asia, Mastercard.

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Finmin approves Rs 11,336 cr capital infusion in 5 PSU Banks

Source: The Economic Times, Jul 18, 2018

The government has approved capital infusion of Rs 11,336 crore in five public sector banks, including scam-hit Punjab National Bank, Corporation Bank and Andhra Bank, to help them meet regulatory capital requirements.

Punjab National Bank will get the maximum amount at Rs 2,816 crore, followed by Corporation Bank, which will see infusion of about Rs 2,555 crore. The others are Indian Overseas Bank (Rs 2,157 crore), Andhra Bank (Rs 2,019 crore) and Allahabad Bank (Rs 1,790 crore). Read the rest of this entry »

Global corporate funding up by 15% at US$ 5.3 bn in the first half of 2018

Source: Business Standard, Jul 17, 2018

Chennai: The corporate funding, including PE and M&A, in the solar energy sector in India, has seen an investment of $380 million during the first half of the year 2018, after a strong growth of $3.6 billion last year. The M&A (mergers and acquisitions) deals, mainly four including the Hinduja Group acquisition of Kiran Energy, have grown to $2.6 billion during the first half of the year, one of the largest in the last four years.

According to data from Mercom Capital Group, Llc, a global clean energy communications and consulting firm, the total global corporate funding, including venture capital funding, public market, and debt financing, in the first half of 2018, was up at $5.3 billion compared to the $4.6 billion raised in first half of 2017, a 15 per cent increase year-over-year.

The first half of the year saw around four VC funding worth over $16 million and three debt financing deals worth $364 million in India, it said. There were seven deals in corporate funding in the country, of which six deals which were disclosed has seen a total value of $380 million. Read the rest of this entry »

Govt announces new model to finance infra projects in smart cities

download (5)Source:, Jul 09, 2018

New Delhi: The government on Monday announced a new Cities Investment To Innovate, Integrate and Sustain (CITIIS) challenge to identify top projects in 15 of the 100 selected smart cities, which will then receive an additional funding of approximately ₹80 crore each.

The new funding will be financed by a €100 million loan from the French government’s international development agency L’Agence Française de Développement (AFD). The cities would be encouraged to pitch projects in four particular sectors: sustainable mobility, public open spaces, urban governance & ICT, and social innovation in low-income settlements.

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Mobile wallet transactions hit record ₹ 14,170 crore in May

download.jpgSource:, Jul 09, 2018

New Delhi: The value of transactions through mobile wallets reached an all-time high in May. Transactions worth ₹ 14,170 crore took place in May, up 21% from ₹ 11,695 crore in April, according to data released on Friday by the Reserve Bank of India (RBI).

The volume of mobile wallet transactions, which fell sharply in March as mandatory know-your-customer (KYC) requirements took effect, has also bounced back. Around 325.78 million transactions took place in May—the highest after the 326.30 million recorded in January.

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