Page 3 - Cash
Flipkart burns over $3.7 billion cash in about a year till Sep 2022
E-commerce major Flipkart has burnt cash of USD 3.7 billion (about Rs 30,000 crore) in about a year ending September 2022, according to regulatory filings. Flipkart had USD 1 billion in cash in July 2021, which came down to USD 887 million by September 2022. The company, in July 2021, raised USD 3.6 billion (about Rs 29,000 crore), which has been completely exhausted, according to regulatory filings of Flipkart and Walmart. It is the biggest cash burn in a year by any new-age company in the country, according to industry estimates. A Walmart regulatory filing shows that the company had approximately USD 1.1 billion as of July 31, 2022. "As of July 31, 2022, and January 31, 2022, cash and cash equivalents of USD 3.5 billion and USD 4.3 billion, respectively, may not be freely transferable to the US due to local laws or other restrictions. "Of the USD 3.5 billion on July 31, 2022, approximately USD 1.1 billion can only be accessed through dividends or intercompany financing arrange
 "Flipkart burns over $3.7 billion cash in about a year till Sep 2022")
Cash-out: Issues with direct benefit transfer's growing ambit
In-kind schemes, introduced in 2017-18, accounted for only 10.8 per cent of total benefits (cash and kind) dispensed under DBT. Today, in-kind transfers account for 60 per cent of total benefits.
 "Cash-out: Issues with direct benefit transfer's growing ambit")
Cash is king! Investing strategies to ride out choppy markets
They turn cautious and prefer defensive bets
 "Cash is king! Investing strategies to ride out choppy markets")
I-T dept raids Delhi-Haryana pharma and realty cos; seizes cash and gold
Finds links to Hawala sale of medicines to Afghanistan
 "I-T dept raids Delhi-Haryana pharma and realty cos; seizes cash and gold")
JetBlue sweetens offer for Spirit, boosts breakup fee, adds cash payment
The revised offer increases JetBlue's reverse breakup fee by $150 million and provides for about $164 million payable as a cash dividend
 "JetBlue sweetens offer for Spirit, boosts breakup fee, adds cash payment")
Cash will always grow, is linked to economic growth: CMS Info Systems chief
In a Q&A, executive vice chairman & CEO Rajiv Kaul dwells on the firm's business structure, growth plans and the future of the ATM industry
 "Cash will always grow, is linked to economic growth: CMS Info Systems chief")
We're almost cashless societies, but let's not rush too quickly into future
It isn't the pandemic that's putting this popular means of payment out of existence. All that Covid-19 has done is to accelerate a trend that was already with us
 "We're almost cashless societies, but let's not rush too quickly into future")
Post demonetisation, notes in circulation on rise; so are digital payments
Five years after the demonetisation, currency notes in circulation continue to rise albeit at a slower pace even as digital payments surge with more and more people embracing cashless payment modes
 "Post demonetisation, notes in circulation on rise; so are digital payments")
Cash going to co-exist with central bank digital currency: Subbarao
Former RBI governor D Subbarao on Monday said there is a strong motivation for the central bank to launch a digital currency and cash is going to coexist with the new-age currency
 "Cash going to co-exist with central bank digital currency: Subbarao")
No cash doles to poor in pandemic was most foolish: Chidambaram
The most foolish decision of central government yet was refusal to give cash doles to the poorest 20-25 per cent of the country's population during the pandemic, P Chidambaram said on Thursday
 "No cash doles to poor in pandemic was most foolish: Chidambaram")
Cash-driven informal credit market reaches $500 billion in India
While India has a highly under-penetrated formal credit market, it has a very large informal credit market.
 "Cash-driven informal credit market reaches $500 billion in India")
BS Number Wise: Cash is king, once again. Should you be worried?
A BS analysis shows that a crisis leads to a higher demand for money, which is complemented by an increase in currency in circulation
Notes in circulation go up due to holding of cash amid pandemic: RBI
Banknotes in circulation witnessed higher than average increase during 2020-21
 "Notes in circulation go up due to holding of cash amid pandemic: RBI")
Consider afresh applications seeking money for emergencies: HC to PMC Bank
The court directed PMC bank to decide afresh about the applications of depositors seeking money for the medical and educational emergencies
 "Consider afresh applications seeking money for emergencies: HC to PMC Bank")
Cash is king, digital is divine: RBI talks digitisation post demonetisation
Digital payments in the country have witnessed a growth (CAGR) of 61 per cent, it said
 "Cash is king, digital is divine: RBI talks digitisation post demonetisation")
When cash is king
Votes-for-notes no longer only means blandishments of cash and goodies for fence-sitting voters
 "When cash is king")
3 bikers flee with Rs 27 lakh as ATM staff leaves cash van door open
Police is probing the role of some of the employees of the cash delivery company in the theft
 "3 bikers flee with Rs 27 lakh as ATM staff leaves cash van door open")
Cash no longer king? Swiss National Bank begs to differ
The bank said the reports of death of cash are not just exaggerated but also unfounded
 "Cash no longer king? Swiss National Bank begs to differ")
2 impersonating police arrested for looting Rs 2 cr of diamond jeweller
A case was registered at Maurya Enclave police station and an investigation was launched
 "2 impersonating police arrested for looting Rs 2 cr of diamond jeweller")
Now, you can withdraw up to Rs 8,414 with a tap on your smartphone
This would make it harder for criminals to misuse customers' accounts by 'protecting them from card skimming'
 "Now, you can withdraw up to Rs 8,414 with a tap on your smartphone")
