Page 12 - Banking Finance December 2022

ROUNDUP

citing the monthly data from the Na- worth $5 billion by 2025, its chairman Providing an informal guidance in this
tional Payments Corporation of India said, having signed its first export deal regard to PNB Investment Services, an
(NPCI) released. of $375 million this year with the Phil- arm of Punjab National Bank (PNB),
ippines. the Securities and Exchange Board of
The NETC FASTag, which facilitates
India (SEBI) indicated that its views
automatic toll collection at NHAI's toll BrahMos Aerospace is in discussions
might differ on a case-to-case basis.
booths across the country, registered with Indonesia, Malaysia and Vietnam
a 9.3 per cent growth in the number for new orders, chairman Atul D Rane The clarification came after PNB In-
of transactions compared to 28.3 crore told. vestment Services, which is registered
in September. as a merchant banker, sought informal
The joint venture, with a 50.5% Indian
guidance on whether it can act as a
and 49.5% Russian partnership, fits
Manufacturing cost in In- into Prime Minister Narendra Modi's direct selling agent by starting a fresh
business vertical for marketing retail
flagship make-in-India programme.
dia cheapest globally: Re-
products such as home loans, car loans
India has made Russian MiG fighter
port on behalf of PNB or other banks.
planes and Su-30 jets under license and
India has been ranked as the nation The applicant was intending to venture
the two have collaborated to make
with the cheapest manufacturing cost into another activity to act as a direct
BrahMos missiles in India.
ahead of China and Vietnam, accord- selling agent for PNB and other banks
ing to a report. for canvassing the retail customers for
Taiwan co eyes e-bike
generation of leads and conversion of
According to the US News and World
launch prospects into customers.
Report, out of 85 nations, India has
bagged the 31st position in the overall Taiwanese electric major, Gogoro,
Best Countries ranking. which has a partnership with Hero 5G revenues set to touch
Moto, is ready to join hands with firms
India featured at the 37th spot in the $315b in 2023
such as Bajaj Auto. TVS and Yamaha for
'Open for Business' category. The global 5G service revenue is ex-
its battery swapping stations. It is also
The report evaluates 85 countries studying the prospects or launching its pected to reach $315 billion in 2023,
across 73 attributes. Attributes are green two-wheelers as a solo venture rising from $195 billion this year, a new
grouped into 10 sub-categories, includ- in India. report said. This represents a growth
ing adventure, agility, and entrepre- of over 60% in a single year for opera-
The company, which has one of the
neurship, open for business, social pur- tor-billed 5G service revenue, accord-
world's largest swappable battery in-
pose and quality of life. ing to Juniper Research. "Over 95% of
stallation with 3.7 lakh swaps per day,
global 5G connections in 2027 will be
Under the open for business sub-cat-
is test-piloting its products in India in
connected personal devices such as
egory, India has scored 100 per cent
partnership with B2B delivery provider
smartphones, tablets and mobile
when it comes to cheap manufactur-
Zypp Electric. "The temperatures in
broadband routers," research co-au-
ing costs. But in 'favourable tax envi-
India can go to 40 degrees and more,
thor Olivia Williams said. It forecasts
ronment', it has scored 16.2 out of and we want to test out platforms,"
over 600 million new 5G subscriptions
100; 18.1 in the 'not corrupt' category Horace Luke, founder and CEO of
will be created next year.
and 3.5 in 'transparent government
Gogoro, said.
policies'.
SEBI pegs dues worth over
SEBI: Merchant bankers
BrahMos hopes for $5 bil- Rs. 67000 crore as 'difficult
can't undertake any other
lion in supersonic missile to recover'
business
exports by '25 A merchant banker cannot carry on any Sebi has segregated dues to the tune
of Rs 67,228 crore under "difficult to
An India-Russia joint venture that business other than those pertaining to
recover" category at the end of March
makes nuclear capable supersonic the securities market, according to the
2022.
cruise missiles hopes to bag orders capital markets regulator SEBI.
12 | 2022 | DECEMBER | BANKING FINANCE