Mumbai: Paytm, the digital wallet owned by One97 Communications Ltd, will be part of Paytm Payments Bank Ltd, in which Vijay Shekhar Sharma, founder of Paytm and recipient of a payments bank licence, holds a 51% stake.

“As per the directions of the Reserve Bank of India (RBI), the company would transfer its wallet business to the newly incorporated Paytm Payments Bank Ltd after receipt of necessary approvals,” the company said in a statement on Monday.

What began as an experiment is emerging as a mainstream logistic option for India’s second-largest car manufacturer Hyundai Motor India (HMIL), precipitated by the Centre’s demonetisation move. The Korean chaebol has said it will use the coastal shipping route to overcome the challenges of truck availability, delays in transit time and uncertainity of road operations.Hyundai has decided to utilise coastal shipping a third time in 2016 with a cargo of 2,500 units to be shipped to Gujarat, NCR and Mumbai on Monday from Kamarajar Port at Ennore near here through Sical Logistics — the only operator so far to test waters through the shipping route as mooted by the Union government.

Odisha attracted investment proposals worth R2,03,235 crore at the two-day Make in Odisha conclave, chief minister Naveen Patnaik said, as the state seeks to cash in on its huge mineral reserves while attempting to reach out to companies in other sectors as well.

The proposed investments have the potential to create 1,40,000 jobs in the state, Patnaik said at the concluding ceremony of the conclave, organised by the state and the department of industrial policy and promotion (DIPP). NTPC, SAIL, Tata Steel, Indian Oil, Adani Group, JSPL, Paradeep Phosphates and Mahanadi Coalfields are among the major investors.

NEW DELHI: Crediting demonetisation for the biggest push towards digital banking, SBI on Monday said it envisions the entire range of banking services going digital over the next few years.

"Demonetisation is the biggest push. The biggest beneficiary is digital banking," State Bank of India MD Rajnish Kumar said at the two-day Inclusive Finance India Summit here.

MUMBAI: In addition to asking industry unit heads to run their business with separate profit and loss statements, Infosys is working on making its horizontal delivery heads operate under a P&L structure as well, as it looks to boost growth.

In the next two quarters, the company is putting in place the strategy so the new P&L structure can begin to operate from the next financial year.

NEW DELHI: Tata Motors snatched a small lead over Mahindra & Mahindra as the third-largest passenger vehicle seller in India, in November, on the back of Tiago sales.

According to sales data received from industry sources, Tata Motors sold 12,736 units in November compared with 12,707 units sold by Mahindra & Mahindra in the same period.

Reserve Bank of India (RBI) governor Urjit Patel gets a little over Rs 2 lakh per month as salary and has not been provided with any supporting staff at his residence, the central bank has said.

Patel, who took over as RBI governor in September, is in possession of the bank's flat (deputy governor's flat) at Mumbai, it said.

Flipkart has received one more jolt with another of its investors Vanguard Group marking down the value of its holding by 33% to put the valuation of the e-commerce major at $7.3 billion. This follows the mark down by Morgan Stanley, earlier this week, which had put its valuation at $5.5 billion.

The mutual fund company Vanguard Group in its regulatory filings, has put the value of its holding in Flipkart at $68.7 per share at the end of September, 2016 as compared to $102.6 in March this year. This has brought down the valuation of the company from $11 billion to around $7.3 billion.

Mumbai: The Indian rupee strengthened for the fourth consecutive sessions against the dollar ahead of the US non-payroll data due later on Friday.

Rupee closed at 68.23 a dollar, up 0.18% from its previous close of 68.35. The home currency opened at 68.29 against the US dollar. So far this year, it has fallen 3.04%.

BENGALURU: Realtor's body Credai said real estate prices has a chance to rise by about 20% in the next one year post demonetisation as builders go slow on new launches, introduction of the new regulatory bill and higher input cost.

New launches are expected to dry up rapidly as realtors adopt a wait and watch approach and customers anticipate a further drop in housing prices. The situation will be aggravated as new approvals will be slow and builders will have to be more compliant with the Real Estate Regulatory Act (RERA) which comes into effect next year.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.