Morning News from India - June 01, 2018 Tweet01 Jun 2018
- Sensex falls 95 points dragged by banking stocks, Nifty ends below 10700 (Livemint)
- World’s Fastest Growth Puts India on Track for a Rate Hike (Bloomberg)
- 40% of my portfolio is invested in India, 0.1% in US: Mohnish Pabrai (Economic Times)
- Betting on India’s Rising Middle Class (Barron’s) - HDB
Technology positions us for the future if companies such as Google and Amazon move further into financial services. About 85% of my customers bank online, but I want 85% of my customers to have their entire financial experience online with us. Right now, it is maybe 15%.
We have used the digital world to change the process of banking and substantially reduce the cost. Technology also lets me change the geographic area I can access. Previously, if I wanted to go to the interior of the country, I would have had to send a warm body out there, which makes it difficult on costs. Now, a borrower can fill in a credit application on the phone and I can operate almost across the country.
- Car Sales In India: May 2018: Automakers Show Sales Growth Despite Fuel Prices (NDTV) - TTM
Infosys plays catch-up with TCS, valuation discount up at 27% (Economic Times) - INFY
- Jio-Saavn Merger Makes Gains in Market Share and Engagement vs. Google in Audio Streaming in India (Jana.com)
- Jio’s under-the-radar tech team in Texas leading its R&D (Factor Daily)
- PayPal buy minority stake in Pine Labs for $125 million (Livemint)