Monday, November 25
India's retail sector is projected to reach USD 2 trillion in 10 years. Organised retailers need to sustain performance. Key considerations include personalised customer experiences and leveraging AI. Store expansions expected in tier 1-4 cities, while the role and proposition of online need to be reimagined.
Mothers Against Vaping urges south east nations, including India, to take action on curbing the use of new-age gateway devices among children and youth. The PECA 2019 legislation in India bans all aspects of e-cigarettes. Smokeless tobacco use in the South-East Asia Region poses mental health impacts. Vaping nicotine and THC is correlated with depression and anxiety.
Paytm Payments Bank crisis: Amidst regulatory pressures, digital payments company Paytm announced on Monday that CEO Vijay Shekhar Sharma would step down from his roles as non-executive chairman and board member of its payments bank unit.
India has been recognized as one of the safest countries for online transactions due to the implementation of tokenization by the Reserve Bank of India. Tokenization has significantly reduced fraud and disputes in every online transaction. However, social engineering frauds and device hacking remain potential threats. Gautam Aggarwal, the country head of Mastercard India, highlighted the importance of card-based transactions, which offer a high level of security through advanced fraud analytics.
Retail inflation data is set for a rejig after the latest household consumption expenditure survey showed that the share of food and cereal consumption has fallen significantly.
Citigroup hires Viswas Raghavan from JPMorgan Chase as head of banking and executive vice chair, part of CEO Jane Fraser's restructuring efforts. Raghavan will oversee investment, corporate, and commercial banking, while JPMorgan promotes Doug Petno and Filippo Gori to lead global banking.
