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Wednesday, July 10, 2019

APAC banks must reinvent themselves or risk disappearing: McKinsey
Banks in the Asia-Pacific region must reinvent themselves and brace for possible consolidation amid weakening macroeconomic expansion, says a McKinsey report which also noted that less efficient lenders will disappear. According to McKinsey's Asia-Pacific banking review, most banks in the region are set to face an existential choice - unlock the potential of scale to boost productivity, optimise capital and pursue strategic growth or prepare to be acquired. "As storm clouds continue to darken over the region's banking industry, with weakening macroeconomic expansion, continued compression of banking margins and rising capital and risk costs, banks must reinvent themselves as digital-first, data-driven organisations and brace themselves for change or possible consolidation," it said.

TalentSprint unveils report on Young Women Engineers
TalentSprint has released an insights report titled “Aspiration for a Global Tech Career among Young Women Engineers”. The data and analysis is based on the company’s Women Engineers (WE) program, which recently received 7276 applications from female engineering students attending 664 colleges and 83 universities, across 29 Indian States and Union Territories. Dr. Santanu Paul, Co-founder and CEO at TalentSprint, said: “Poor gender diversity among top-tier technical talent is a widely acknowledged big problem among leading companies, and it is the primary driver for the WE program. The analysis of WE applicants, as documented in the insights report, reveals there are many highly motivated women engineering students with great potential with no access to the right career tools in their immediate environment. WE is a merit-driven socioeconomic inclusion program to spot such women students from non-elite institutions and non-privileged backgrounds, give them exceptional training and professional access, and hopefully catapult them into the high end of global tech for the benefit of all.”

Rejoice Entertainment Comes Up With Another Successful Digital Campaign
Mumbai based creative agency and a production house Rejoiice Entertainment recently created a series of Digital ad campaigns for MAAC (Maya Academy of Advanced Cinematics), a brand of Aptech Ltd. The ads are currently streaming live during the ICC Cricket World Cup 2019 on Hotstar and various other digital platforms. “In our more than 20 years of experience in the M&E sector, we have seen a drastic shift in this space which makes it a platform creating world class content. With the finest in-house talent, our creative thinkers have the ability to quickly deliver on the client requirements with a quick turnaround time. Our idea was to clearly communicate to the audiences how simple it is to make a fast growth career in this segment and that’s exactly what we did for MAAC’s campaign”, said Vaibhav Babaji, Founder of Rejoiice Entertainment.

Spectrum prices need significant, not marginal, lowering: BIF
A day after Trai held its ground on spectrum pricing, Broadband India Forum (BIF) yesterday said it firmly believes spectrum prices recommended by the telecom regulator are "extremely high" with potential to dampen 5G plans, and urged policy makers to take a calibrated view on the issue. The broadband industry body said policy makers should look at lowering the base prices, not marginally but significantly, and argued that demand for radiowaves by operators will drive a suitable price discovery. "We expect that at the recommended prices, the participation in auctions could be adversely impacted. It will not be a big success, and it will impact Digital India objectives...It will adversely affect 5G," T V Ramachandran, president of BIF, told PTI.

Sterling and Wilson Solar gets Sebi approval to float Rs 4,500-cr IPO
Sterling and Wilson Solar Ltd (SWSL) has received approval from markets regulator Sebi to float its Rs 4,500-crore initial public offering. The capital markets regulator issued its final observations on SWSL’s IPO proposal on July 4, according to information available on Sebi’s website. The total size of the initial public offering (IPO) is about Rs 4,500 crore. The IPO will be an offer-for-sale by the company’s Chairman Khurshed Yazdi Daruvala, and Shapoorji Pallonji and Company, the promoter selling shareholders. The company had filed its draft red herring prospectus for the IPO with Sebi on April 15 this year.

Basel report fully compliments RBI's regulatory framework
The Reserve Bank's regulations on large exposures of banks are "compliant" on average with the framework set by the global central bankers body at Basel and some are even stricter than the global norms, says a report by the Bank of International Settlements. The regulatory consistency assessment programme (RCEP) of the Basel Committee on Banking Supervision has found that domestic banking regulations are "compliant" as of June 2019, which is the highest possible grade, say the report. According to the report by the Bank for International Settlements, which is an institution of the central banks around the world based in the Swiss city of Basel, in some aspects, the domestic regulations are stricter than the large exposures framework of Basel itself.

No proposal with Irdai for 10% stake sale in Max Life to Axis bank: MFS
Max Financial Services yesterday said it has not approached insurance regulator Irdai with any proposal to sell 10% stake in its insurance subsidiary Max Life to Axis Bank. "We also wish to reiterate that the long standing bancassurance relationship between Max Life and Axis Bank continues to be strong and highly productive," Max Financial Services (MFS) said in a regulatory filing.

Odisha Tourism Showcases its Offerings as India's Best Kept Secret
Tourism Minister of Odisha J. P. Panigrahi last evening led a delegation at a roadshow organised by FICCI in Mumbai recently. Commissioner cum Secretary Mr. Vishal Dev highlighted key offerings of Odisha across segments such as heritage tourism, ecotourism, ethnic tourism, and spiritual tourism amongst others. He emphasised the importance of the segment in terms of enhancing the state's global brand image. "Bhubaneswar, one of India's smartest and most liveable cities, is being increasingly connected to other parts of India and the world. It is this city which received commendations from the sporting world's who's who for conducting arguably the best sporting events ever in the form of the Odisha Men's Hockey World Cup 2018, following the stellar organisation of the Asian Athletics Championships 2017," he said.

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