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Industrialists are now taking keen interest in <keyword id="6357120" type="UNKNOWN" weightage="100" keywordseo="PayTM">Paytm</keyword> and as per several reports, Hero’s <keyword id="159745" type="PERSON" weightage="20" keywordseo="Sunil-Munjal">Sunil Munjal</keyword> and <keyword id="599277" type="ORGANIZATION" weightage="20" keywordseo="Adventz-Group">Adventz Group</keyword>’s <keyword id="233083" type="PERSON" weightage="20" keywordseo="Saroj-Poddar">Saroj Poddar</keyword> are in talks to buy a stake in Paytm. 
 
If everything goes well, the investment will boost the value of Paytm's parent One97 Communications and may take its valuation of $6 billion. 
 Reportedly, Munjal, the chairman of <keyword id="171917" type="ORGANIZATION" weightage="20" keywordseo="Hero-Corporate-Services">Hero Corporate Services</keyword>, and Poddar, chairman of fertiliser and engineering services conglomerate Adventz Group, are negotiating a stake purchase from early investor and former IDFC Securities analyst <keyword id="125370" type="PERSON" weightage="20" keywordseo="Nikhil-Vora">Nikhil Vora</keyword>. 
 The deal will mark a partial exit for <keyword id="187821" type="PERSON" weightage="20" keywordseo="Vora">Vora</keyword> who owns about 1.6 lakh shares - a 0.35% share - in the <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword> backed company. 
 
"They (Munjal and Poddar) will buy Rs 50 crore worth secondary stock at Rs 8,000 per share," one of the persons cited above, told ET. 
 Paytm, earlier received funding from Taiwan's <keyword id="6369515" type="COMPANY" weightage="20" keywordseo="Mediatek">MediaTek</keyword> in August when it was estimated to be worth $4.8 billion. This deal, if successful, will see the company valued at $5.5-6 billion, according to the sources. 
 
A boost in valuation can help the payments company - which has registered rapid growth in recent weeks due to the government's demonetisation exercise - command a better value when it seeks fresh institutional funding in the coming weeks. 
 
Paytm has seen business boom with transactions going up from 2.5 million per day to 7 million in November. 
 
The company is now focussed on growing its business in rural markets by offering local language support and new services for payments on feature phones. 
 <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>, the founder of One97, told ET that his aim was to "move ahead from payments and offer a full bouquet of personal banking services in 2017". The payments bank, when launched, will offer fully portable accounts and even cashout features that a wallet company cannot do. 
 Large conglomerates like <keyword id="6355199" type="CITY" weightage="20" keywordseo="Reliance-Industries">Reliance Industries</keyword>, Aditya Birla Group and RPG (RP Goenka) Group meanwhile are looking to back ventures closer to their own businesses.

Sunil Munjal, Saroj Poddar likely to invest in Paytm; may reach $6 billion in valuation

The Reserve Bank of India (<keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword>) has given permission to digital mobile wallet <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword> to officially launch its <keyword id="2324069" type="UNKNOWN" weightage="20" keywordseo="Payments-Bank">payments bank</keyword>. The central bank had in-principle approved the <keyword id="3236791" type="UNKNOWN" weightage="20" keywordseo="Paytm-payments-bank">Paytm payments bank</keyword> last year in August. 
 In a blog, Paytm’s <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword> wrote the Paytm Payments Bank will build a new business model in banking industry. 
 
Paytm has been hogging headlines, especially after demonetisation. Now, it is also likely that Sunil Munjal and Saroj Poddar will buy a stake in Paytm, which may touch valuation of $6 billion if all goes well. 
 
Meanwhile, the payments bank will be another feather in Paytm’s hat. Paytm has been hiring in the top order for it. 
 
Post formal nod by RBI for payments bank, Here’s what Sharma wrote in his blog: 
 
Today, Everything changes, Again. 
From Payments to Payments Bank. 
Exactly three years ago, on January 3rd 2014, we launched our mobile wallet — Paytm. Today, Paytm has become the category leader and changed the way India pays. 
From villages to cities, from corner vegetable stalls to milk booths, small shops to large retailers, everyone embraced the new way to pay by Paytm. 
Now, we are embarking on a new and even more exciting journey. 
Today, Reserve Bank of India gave permission to formally launch Paytm Payments Bank. We can’t wait to bring it in front of you. 
At Paytm Payments Bank, our aim is to build a new business model in banking industry, focussed on bringing financial services to 100’s of millions of un-served or underserved Indians. 
With power of technology and innovation-at-scale, we aim to become a benchmark in world of banking. 
This is our chance to build something that every Indian can be proud of. No other role or responsibility means as much to me as the privilege of building Paytm Payments Bank, and I intend to take a full-time executive role in the Bank. 
In this journey, we will keep our heads down, work harder, and remember these three guiding principles: 
 
 
 
 
 India, let’s build it together.

Paytm gets permission to launch Paytm Payments Bank. Here’s what Vijay Shekhar Sharma said

UB Group chairman and liquor baron <keyword id="14678" type="PERSON" weightage="100" keywordseo="Vijay-Mallya">Vijay Mallya</keyword> has resigned from the board of directors of Mangalore Chemicals and Fertilisers (<keyword id="180811" type="COMPANY" weightage="100" keywordseo="MCF">MCF</keyword>). Neither Mallya nor MCF gave any reason for this move. 
 
“Mallya, a director on the board of directors of the company, has resigned with immediate effect,” MCF said in a filing to the Bombay Stock Exchange (BSE). 
 As per media reports, Mallya was under pressure to resign, owing to the ‘wilful defaulter’ tag levelled against him by <keyword id="113653" type="COMPANY" weightage="60" keywordseo="United-Bank-of-India">United Bank of India</keyword> (UBI). The bank had declared him as ‘wilful defaulter’ in September in a matter related to a debt of Rs 6500 crore. However, the Calcutta High Court had later stayed the bank’s decision. 
 
Now, the latest buzz is that Saroj Poddar of Adventz Group may join the board of MCF. 
 
Following the news of his resignation, MCF’s shares increased by 15% during morning trade today.

Vijay Mallya Resigns From The Board Of Mangalore Chemical Fertilisers

At a time when new corporate rules have substantially changed the responsibilities of directors, there is a push in the Indian industry to improve the quality and effectiveness of corporate <keyword id="56788" type="UNKNOWN" weightage="20" keywordseo="Governance">governance</keyword>. 
 In a bid to improve the quality of board-level governance in Indian industry, corporate heavyweights including Keki Mistry of HDFC and <keyword id="162166" type="PERSON" weightage="20" keywordseo="Satish-Reddy">Satish Reddy</keyword> of Dr Reddy's Laboratories are coming together. The new group will be headed by <keyword id="273154" type="PERSON" weightage="20" keywordseo="Arun-Duggal">Arun Duggal</keyword>, former chairman of <keyword id="4745298" type="COMPANY" weightage="20" keywordseo="Shriram-Capital">Shriram Capital</keyword>. As per a news report by the Economic Times, Saroj Poddar of Adventz Group, Rashesh Shah of Edelweiss <keyword id="6354241" type="COMPANY" weightage="20" keywordseo="Financial-Services">Financial Services</keyword>, Shailesh Haribhakti of DH Consultants and Harsh Goenka of RPG Enterprises will also be a part to it. 
 
The financial daily has confirmed that the forum is being set up under the aegis of the FICCI Centre for Corporate Governance. 
"The objective of the forum is to enhance the corporate governance practice and standards by having better-informed and more-engaged board members," Duggal, who is the chairman of Ficci Centre for Corporate Governance told the ET. "The Companies Act 2013 and Sebi guideline have provided a structure and hardware for governance. What we want to provide is the software of information, knowledge, insight and peer learning for board members to be more effective." 
 
Membership will be strictly by invitation. The forum plans to start by inviting board members from the top 200 BSE companies. Among these programmes, the forum will offer an optional four-day board effectiveness course in association with the Indian Institute of Management-Ahmedabad, led by director <keyword id="1588161" type="UNKNOWN" weightage="20" keywordseo="Ashish-Nanda">Ashish Nanda</keyword>, and Harvard Business School, the ET report reads. 
 
In the next two-three years, the forum expects to yield results in the form of more engaged and informed board members and provide a lot of motivation to people. 
 
(Image credits: indiatimes.com)

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Sunil Munjal, Saroj Poddar likely to invest in Paytm; may reach $6 billion in valuation

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Paytm gets permission to launch Paytm Payments Bank. Here’s what Vijay Shekhar Sharma said

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Vijay Mallya Resigns From The Board Of Mangalore Chemical Fertilisers

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Now an ‘etiquette’ school for company directors?

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