RBI is wary of the meteoric rise of co-branded cards

Recently, RBI had advised Federal Bank and South Indian Bank not to issue co-branded cards. Co-branded credit cards come in two main categories. Retail co-branded cards are issued in partnership with retail merchants and Fintech co-branded cards are issued in partnership with financial technology companies. All co-branded partners must comply with regulations set by the Reserve Bank of India (RBI).  

As per RBI guidelines, the co-branding partners like merchants or fintech companies should not have access to transactions made. The banks are supposed to onboard customers, take on the risk, etc. It has come to the notice of RBI that banks have shared the rating system with co-branding partners leading to an increased risk of data leaks. Hence, RBI wants the banks to do credit scoring in-house and prevent the sharing of user data with partners.  

Ready-to-Eat Market Set to Surge by 45% in 5 Years 

The growing culinary standards and preference for convenience among Indians signal a significant potential for the ready-to-eat meals market in the coming years. Forecasts suggest this market could expand by approximately 45% over the next five years, presenting a promising investment opportunity according to SATS Food Solutions. 

In the New facility at Bengaluru's Kempegowda International Airport, SATS Food Solutions India plans to hire approximately 300 employees. This New facility is heavily reliant on automation and the Internet of Things for streamlined operations. India CEO Dighe also mentioned that their chefs will play a key role in specialized tasks, such as innovating new recipes. 

Additionally, a study by Market Research Future highlights that 72% of Indians seek well-balanced, nutritious ready-to-eat meals with organic ingredients, minimal additives, and 'clean labels'. 

Adani Ports' Expansion: Acquires 95% Stake in Gopalpur Port Ltd 

Adani Ports and Special Economic Zone (APSEZ), a company that operates a network of ports and terminals along India's coastline, is set to expand its presence with the acquisition of a 95 percent stake in Odisha’s Gopalpur Port Ltd. The deal, valued at 13.49 billion rupees ($161.74 million) in equity, involves acquiring a 56% stake from the Shapoorji Pallonji Group (SP Group) and a 39% stake from Orissa Stevedores, totalling an enterprise value of 30.80 billion rupees. 

In the fiscal year 2024, Gopalpur Port Ltd (GPL) is projected to handle approximately 11.3 million tonnes of cargo, marking a 52 percent year-on-year increase. Revenue is expected to reach Rs 520 crore, up by 39 percent, with earnings before interest, taxes, depreciation, and amortization (EBITDA) reaching Rs 232 crore, reflecting a 65 percent increase.