Moneycontrol Selects: Top stories this evening

MC selects

Bajaj Finance to bring down dependence on telemarketing calls: Sanjiv Bajaj

Bajaj Finance aims to bring down the value of loans that are pushed through phone calls to less than 10 percent of its business, said Sanjiv Bajaj, chairman and managing director of Bajaj Finserv, the parent of the finance company. Eventually, the firm wishes to reach a point where it will no longer call people and ask them if they wish to take a loan, he added. Read more

HDFC Bank’s suspension of manager highlights pressure to meet sales targets, say experts

HDFC Bank’s suspension of a manager for alleged unruly behaviour with junior team members during a sales conference call is symptomatic of the larger issue of pressure to sell third-party financial products, experts said. Read more

India's internet economy gross merchandise value to grow 6X to hit $1 trillion by 2030: Report

The gross merchandise value of India's internet economy, encompassing fintech, SaaS, B2C and B2B e-commerce, will hit $1 trillion by 2030 driven by increased private consumption in Tier 2 geographies, digital public infrastructure and global investments in the country's technology sector, according to a report authored by Google, Bain and Temasek. Read more

Moneycontrol Selects

Mumbai real estate: Redevelopment projects worth Rs 20,000 crore unable to take off in Juhu. Here’s why

The Juhu Wireless Affected Residents Association (JWARA), representing over 20,000 families in the Juhu area of Mumbai, has written to the Mumbai Civic Body, also known as Brihanmumbai Municipal Corporation (BMC), for obtaining redevelopment approvals that have not come through for almost two decades. Read more

Sequoia Capital splits into three entities: India, China, US to operate independently

Venture capital firm Sequoia Capital announced on June 6 that it is splitting into three entities: the United States, China, and India & Southeast Asia. The firm said the move was necessary because its portfolio companies in these geographies have grown large enough to overlap and create territorial conflicts. Read more

Is the good run of the Indian banking sector over?

One silver lining for the Indian economy that emerged out of the COVID-19 pandemic was the banking sector. Contrary to expectations this sector remained relatively unscathed by the pandemic, and proved to be quite resilient. Read more

'Gruha Jyoti' free electricity scheme can be availed by tenants as well: CM Siddaramaiah

Karnataka Chief Minister Siddaramaiah on Tuesday said tenants are also eligible to avail the Gruha Jyoti' scheme, under which 200 units of free power will be provided to all domestic consumers in the state from July 1. Read more