Paytm Mall plans to hire 2,000, moves 800 executives from One97

Paytm Mall plans to hire 2,000, moves 800 executives from One97

Paytm Mall plans to hire 2,000, moves 800 executives from One97

BENGALURU: Paytm transferred to 800 people from its parent One97 Communications in its entity – Paytm e-commerce manages Paytm shopping center during the expansion of its retail business.

The company with the support of Alibaba will also hire additional workforce of about 2,000 executives this year as it aims to create a significant presence in e-commerce.
Earlier this year, One97 Communications separated its trade and payments into two separate entities as it recently launched its payment bank. In total, the company employs more than 5000 people.

In March this year, One97 Communications received a $ 200 million equity injection led by Alibaba with SAIF partners participating in the cycle.

Paytm E-commerce is considered the leading vehicle for e-commerce focused on consumer Alibaba India.

Having had several conversations with various companies, including Flipkart, China’s major e-commerce has invested separately in Paytm trading.

Paytm mall recently named Amit Sinha as chief operating officer. The online market has also defined the roles of other executives in key positions.

Saurabh Vashishtha will handle marketing while Amit Bagaria bring the customer experience with Bhushan Patil care of the logistics. Sunil is Goyal the leading products and technology for trade platfrom.

Although Paytm changed its business three years ago, payments were the main drivers of Noida’s revenue. Paytm’s father recently amassed $ 1.4 billion in fresh capital from SoftBank in Japan, many of which referred to the payment business.

Paytm Mall, which rivals Flipkart and Amazon, also introduced new political sanctions and cancellations for vendors as of July 10, according to a communication sent to sellers by Paytm that was seen by TOI.

Paytm Mall has created different slabs of cancellation fee depending on the phase of control canceled or delayed by a seller.

Sinha said that the latest changes in consumer policy target the seller have an online experience of trust.

“We are constantly updating our reliable business partners on best practices so they can provide an enhanced consumer experience,” said Sinha.

Publish the start-up Paytm bank, the senior management of the company and the trading team have been busy taking care of the leading brands in its trading platform.

It has already signed deals with brands such as LG, Samsung, Blue Star, Godrej, Killer Jeans, Bureaucracy and others. Their goal is to edge the best brands in the coming weeks.

The firm pat on the online line model (O2O) for regulars aboard the brick and mortar stores on their platform.

An O2O chain allows consumers who do not shop online on multiple platforms. The company also supports its rapid response (QR) codes on the trading platform that has been allocated the crore Rs 600 investment this year.

AU Small Finance Bank shares trade 48% higher on stock market debut

AU Small Finance Bank shares trade 48% higher on stock market debut

Mumbai: The Bank’s small UA funds Monday launched the stock markets to 52% after its initial public offering (IPO) was subscribed nearly 29 times last week.

Shares opened at Rs525 on BSE and touched a high and a low of Rs544 and Rs506.80 respectively. At 14:40, the script was traded at Rs530.05 on BSE, 48% above its issue price of Rs358 per share.

The market capitalization of the UA Small Finance was Rs15 billion rupees during its opening, higher than the market limit of most public sector banks, such as India Bank, IDBI bank, Bank Union of India, Vijaya Bank and syndicate of banks.

Among private banks, Union Bank City, Karur Vysya Bank and Bank DCB had a market capitalization below the Small AU Finances.

After registration, it was number 16 among all banks in India. Among the power supply, the Bank finances small AU was seventh, while among private banks, which ranked tenth.

Among the non-bank financial companies (HBNCO) Hudco, Dewan Housing Finance Ltd, Bharat Financial Services Ltd, JM Financial Ltd, IDFC Ltd, Manappuram Finance Ltd, Equitas Holdings Ltd and Ujjivan Financial Services Ltd are among those with a lower ceiling Than the financial market AU Small.

However, in Small Finance it has a head and deposits much smaller than the banks. Beginning in fiscal year 2017, total placements stood at Rs 5,930.8 crore against Rs3,817.40 crore, while deposits were Rs6,608 crore at Rs5,789.30 crore.

“The AUSFB portion of very small lenders who receive these types of high performance relationships while offering a secured collateral, which is commendable.

Due to secured loans, the AUSFB is better placed to transition to smaller financial banks relative to competitors.

Having a strong retail asset book, it will help you create AUSFB responsibilities with a strategic focus on customers and averages to help better cross-sell opportunities, “said a research note Aditya Birla Money research published June 28 For its investors.

The IPO increased Rs1,912 million rupees and an auction reached 1.09 billion shares against the total issue size of 37.70 million shares, according to data available with the National Stock Exchange.

The category reserved for qualified institutional buyers was subscribed 78.77 hours, while the portion reserved for non-institutional investors and retail investors were subscribed 143.51 times and 3.52 times, respectively.

US small business developer Sanjay Agarwal and private equity investors Warburg Pincus, the arm of the World Bank, International Finance Corporation, ChrysCapital and Kedaara Capital sold all 53.42 million shares.

The Small Finance Bank of the UA was one of 10 NBFCs that obtained the Reserve Bank of India Approvals (RBI) in September 2015 for the creation of a small bank financing.

The bank has 301 branches of non-bank financial companies in 10 states and a Union territory with a significant presence in Rajasthan, Gujarat, Maharashtra and Madhya Pradesh.

For fiscal year 2017, net income of Rs842.60 crore was recorded, including Rs517 crore of proceeds from the sale of investments in subsidiaries compared to Rs247.20 crore a year ago.

Net interest income increased by 40.7% over the previous year to Rs916.60 crore compared to Rs651.70 crore in the same period. Gross Assets Nonperformance percentages have increased by 1.6% from 0.6% over the same period.

The main officials of the offer are ICICI Securities, HDFC Bank (Banking Group), Motilal Oswal Investment Advisers and Citigroup Global Markets India.

7th Pay Commission: Government reminded of OT allowance

7th Pay Commission: Government reminded of OT allowance

7th Pay Commission: Government reminded of OT allowance

Government employees have issued a retirement overtime compensation under the seventh payment commission.

The reminder was sent on behalf of the defense and industrial employees. Meanwhile, the government also issued an order declaring the abolition of family planning allowance.

The decision to abolish the family planning allowance was made on the recommendation of Commission 7 for payment.

In a letter, he said that the BPMS, as soon as possible, is invited to attend the meeting of the Anomaly Commission 12.26.2016 under the chairmanship of AS J J Shri Rama Krishna Rao, where we express our concern for The delay in reviewing the legal duration of the benefit (subsidy free time under the 1948 ACT factories) in defense establishments.

In turn, the AS (J) has been fulfilled and instructed to resolve the problem of payment of the agreement according to the revised remuneration as a result of the implementation of the recommendations of the Commission of payment.

It is therefore requested to take the necessary measures to make the issue of payment of overtime compensation in defense establishments on the review of the remuneration of the Commission’s recommendations of payment.

The abandonment of family allowance eliminates Subject: interruption of family support for the adoption of small family rules – the recommendation of the payments of the Central Commission of 7 ° The signer is invited to refer to the number 7/20/2008 E- IIIA this Ministry dated 24 9-2008 regarding the current rate of family planning benefits (FPA) eligible for central government employees and that, pursuant to paragraph 7 of Resolution No. 1-2 / 2016-IC Ministry, dated July 25, 2016, the issue of compensation (with the exception of the provision of good delivery) based on the recommendations of the Seventh Payment Commission refers to a committee chaired by the Secretary and Finance to a final decision at Respect, all rights should be paid at existing rates in the existing wage structure (the compensation structure based on the 6th Commission payment) as if the remuneration has not been revised. 2016.

Consequently, the FPA should also be lent to existing rates specified in the OM above date 24.9.2008.

Government decisions in various allocations based on the recommendations of the Commission of 7 and in the light of the recommendations of the Commission chaired by the Secretary of Finance has been notified in accordance with Resolution No. 11-1 / 2016-IC Date July 6, 2017.

As mentioned in SL. No. 60 Annex – He said resolution of July 8, 2017, accepted the recommendation of the Commission of 7

Of payment to abolish the family planning allowance and the decision takes effect on July 1, 2017. Consequently, FPA family planning allowance as admissible so far, will cease to exist in all cases.

These orders will take effect on July 1, 2017, and therefore, the family planning allowance will be discontinued on July 1, 2017.

In their application to employees of company accounts and accounts of India, these orders are issued consultation with the C & AG Office.