Five must-read stories—December 27
<b>The stories you can’t miss</b>
The gold holdings of the three largest gold loan Kerala companies — Muthoot Finance, Manappuram Finance and Muthoot Fincorp — have grown from 195 tonnes two years ago to nearly 263 tonnes towards the end of September 2016. Between them, they have more precious metal in their vaults than the gold reserves of some of the richest nations, says The Times of India.
Legion, the entity claiming responsibility for the recent hacking of high profile Indian public, claims to have hit a “jackpot of incriminating data" and which it will release around New Year’s Day. It also spoke of potential targets including the UIDAI database that holds the Aadhaar data, reports The Wire.
Contrary to the NDA government’s aims of increasing digital payments after demonetisation, the number of cashless payments – through online, mobile banking, debit cards and immediate payment service (IMPS) – reduced by 15% in November 2016, when compared to October 2016, says IndiaSpend.
Deposits of nearly Rs 105 crore — made in old notes — have been found in a Delhi bank account of the BSP, reports The Telegraph quoting Enforcement Directorate sources. From the United Bank of India's same branch in Karol Bagh, New Delhi, financial sleuths have apparently found Rs 1.42 crore in an account belonging to Anand Kumar, the brother of BSP leader Mayawati.
India may have the world’s second largest internet user base, but connectivity remains out of reach for nearly 950 million citizens, according to a ASSOCHAM-Deloitte joint study. This is despite the mobile data plans in India being among the cheapest in the world and the average retail price of smartphones have been steadily declining. A PTI report in The Indian Express.
- gold loan
- digital payment