News digest: MFs rake in mollah from small towns, Modi-Mattis meet and more

From Modi-Mattis meet to insurance firms going for digital-first to grow business, BS brings you up to date with the latest news

MFs offer extra incentives to rake in big money from smaller towns

A little more than 17 per cent of the assets of the mutual fund (MF) industry came from the so-called beyond top 30 (B30) cities, the Association of Mutual Funds in India’s (Amfi’s) data for April shows. Read more

Modi, US defence secretary talk security amid tension over South China Sea

Prime Minister Narendra Modi on Friday met US Defence Secretary Jim Mattis in Singapore and discussed security-related issues, days after the Pentagon renamed its Pacific Command as the Indo-Pacific Command in a largely symbolic move to signal India’s importance to the US military. Read more

Vodafone-Idea set for the top, but will have to work hard to stay there

Vodafone and Idea Cellular, which are likely to complete the merger approvals soon, will together emerge as the country’s largest telecom operator, dethroning Bharti Airtel. Read more

Insurance firms knock off agents, go for digital-first to grow business

Insurance is a business of relationships; traditionally, an outcome of frequent handshakes between agents and their customers. That is changing fast. Some of the country’s biggest insurers are moving to a digital-first approach, reducing the dependence on agents for selling an insurance product. Read more

When Amazon goes from partner to rival

It is with a certain dread every autumn that some companies described by Amazon.com Inc. as its technology partners gather at a Las Vegas convention and find out if Andy Jassy has new plans to encroach on their turf. Read more