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MUMBAI: Indian carriers managed to fill their flights a little more in May over April as lower fares during summer vacations encouraged more people to travel. Overall, however, the air passenger traffic in the month grew just 8% and for January-May period about 3%, compared to the previous year. 
 
Airlines continued to add more capacity than there was demand for, indicating it will be a while before the health of the industry improves. 
 Market rankings remained largely unchanged month-on-month with <keyword id="6354706" type="CITY" weightage="80" keywordseo="Indigo">IndiGo</keyword> flying the maximum number of passengers, overall and per flight, as well as having the most punctual operations in the industry. Indian carriers flew 6.02 million passengers in May, compared to 5.31 million in April and 5.58 million a year earlier, according to figures released by the <keyword id="164112" type="POSITION" weightage="40" keywordseo="Directorate-General">Directorate General</keyword> of Civil Aviation (DGCA), the country’s aviation regulator. 
 
On an average, seven Indian carriers managed to fill about 80.1% of their flights in May, compared to 75% in the lean month of April and 81.6% in May last year. 
 
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	Average capacity measured in capacity per available seat kilometres increased 7.5% as airlines added new flights and routes but demand, measured in revenue per seat kilometre increased only 3.9%. This roughly means that for every two seats added, there was just one taker. Demand rise has consistently underperformed capacity since last October, the DGCA data showed. In May, IndiGo retained its position as a <keyword id="139821" type="POSITION" weightage="40" keywordseo="market-leader">market leader</keyword> by flying 1.9 million passengers and filling 82% of its flights on average. SpiceJet, which introduced its new network in March, had a flight occupancy of 81.8% in the month. IndiGo beat its rivals in punctuality operating 88% of its total flights on time. SpiceJet clocked 83.8% on punctuality

IndiGo Registers Highest Number Of Fliers At 1.9 Million In May

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Ralph Orlowski/Reuters</div></div></div>With the Dow struggling to break 20,000 and <a href="http://www.businessinsider.com/jeff-gundlach-webcast-december-13-2016-2016-12/#but-watch-out-for-a-broad-sell-off-near-inauguration-day-9">inauguration day</a> approaching, there are murmurs swirling about the stock market's near-term performance. The S&amp;P 600 - comprised of small-cap stocks - is flashing one such warning sign about the market's next move, according to Andrew Adams, a market strategist at Raymond James. Small-cap stocks were the biggest winners of the post-election rally. The Russell 2000, a separate index that tracks companies with a market capitalization of about $1 billion or less, outpaced gains on the benchmark large-cap S&amp;P 500, even as both rose to records.However, small caps have failed to build on their market-leading gains since the election, creating a reason for caution, Adams said. "The S&amp;P 600 Small Cap Index has basically gone sideways for over a month now, and even appeared to break down below support on Monday before rallying back over the line yesterday," he wrote in a note on Wednesday, including the following chart:<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Raymond James" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/58764b7df10a9a2a768b4bc5-960/screen shot 2017-01-11 at 101126 am.png"></a>Raymond James</div></div></div>"The limited upside and need for caution will remain as long as the index struggles to climb above this zone, and it may take a pullback down closer to 2200 or below to first rebuild enough internal energy to power over this point."Adams said it's noteworthy that mega-cap stocks like Facebook and Netflix are once again market leaders, supporting indexes that are weighted by market cap. At the same time, he observed that fewer stocks are participating in market moves higher. "Therefore, this remains a time to keep your ears perked up and watching out for trouble… at least in the short-term," Adams wrote."We don't anticipate a major sell-off like we experienced last January and February, but the scales may be tipping back in favor of caution because it is starting to feel the next 5-10% move could just as easily come on the downside as the upside." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/harvard-psychologist-confidence-presence-amy-cuddy-2016-12">A Harvard psychologist reveals the best way to fake it till you make it</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="F2eWluMDE6a6V4MqjNxNxdeXREBGdd_8" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

One of the biggest market leaders is flashing a warning sign

<ul class="summary-list"><li>Insider convened a panel of leaders from Diageo, Mastercard, and Goodby, Silverstein &amp; Partners at Cannes Lions.</li><li>The panel posed the question, "Is your brand brave enough?" and presented new research on how consumers view brands that take stands. </li></ul>Marketing leaders were urged not to let external pressures — like those recently faced by <a href="https://www.businessinsider.com/bud-light-transgender-controversy-backlash-boycotts-history">Bud Light</a> and <a href="https://www.businessinsider.com/target-reportedly-expands-removal-of-pride-merchandise-nationwide-2023-5">Target</a> — keep them from taking risks and aligning with purpose. The comments were made by panelists to a room of more than 100 marketers at the Cannes Lions International Festival of Creativity 2023, hosted by Insider.Speakers on the panel included Raja Rajamannar, chief marketing and communications officer and president of healthcare at Mastercard; Cristina Diezhandino, chief marketing officer at Diageo; Jeff Goodby, co-chairman at Goodby Silverstein &amp; Partners; and Jasmine Enberg, principal analyst, social media at Insider Intelligence.The event was moderated by <a href="https://www.insider.com/author/joi-marie-mckenzie">Joi-Marie McKenzie</a>, editor in chief of Insider Life, who opened the session by acknowledging that bravery in marketing is a hot topic right now, especially because of the growing power of the emerging generation. "It's crucial to acknowledge the driving force behind much of this radical change," McKenzie said. "Yes, Gen Z — the staggering 68 million Americans under the age of 24."McKenzie cited Insider's recent <a href="https://www.insider-inc.com/news/archive/2023/new-research-from-insider-brand-bravery-advertising" target="_blank" rel="noopener">research</a>, which tapped 2,000 respondents using two methodologies — a quantitative survey and an A/B test to assess reactions to ads surrounding certain types of content. About 74% of the respondents said that they feel fulfilled buying from brands they consider brave, and 63% feel fulfilled buying from brands that stand up for what they believe. The survey also showed that consumers respond to advertising that surrounds first-person storytelling, which the data shows results in a 20% higher purchase consideration. <h2>Context is key, as is being true to your brand </h2>The speakers talked through examples of bold initiatives from their own brand work, including Diageo's 2022 <a href="https://www.independent.co.uk/life-style/jb-whisky-commercial-ad-trans-watch-b2246827.html" target="_blank" rel="noopener">"She" Christmas ad</a> for J&amp;B that ran in Spain, featuring a grandfather who learned how to put on makeup to support his transgender granddaughter.Diageo's Diezhandino explained that the team was surprised at the overwhelmingly positive reaction to the ad, which was launched in a local market but achieved global visibility.She cited the passion and sensitivity of the ad's female director as one reason it was so well received. "That's really at the heart of this work and that's how I would think about work of this nature," she said. "We are in the business of celebration and there's no better celebration than one that includes everyone." Goodby spoke about how important it is to understand the brand "context" when creating these kinds of campaigns. "Every brand has a context ... and the context of your brand has to be taken into account," he said. "What is the platform that you're building on? What's the past of the brand? What do people think of the brand? Does your brand give you license to do this kind of thing?" Mastercard's Rajamannar spoke about the company's True Name card, which debuted in 2019 and allows the customer to use whatever name they wish, which is particularly important for the trans community. When they first rolled out the card, they couldn't find a bank that would touch it, until finally BMO agreed to join forces. Now it's available in 35 countries around the world. "If you genuinely and sincerely stick to the purpose, profits will follow," Rajamannar said. A Mastercard spokesperson confirmed to Insider that True Name is a "profitable purpose-driven card".<h2>Bold initiatives will attract attention — it comes with the territory</h2>Brands need to expect that their significant initiatives are going to attract attention, which will sometimes be negative.Insider Intelligence's Enberg said, "One of the most important things to remember as a brand, as you're thinking about taking a stand, when you're thinking about being brave, is that when you do your voice is going to be amplified. You will probably also be put under a microscope.""Make sure that when you do it you're careful in terms of the issues you stand for," Enberg said, "making sure you are representing your brand values, making sure you understand your target audience." Recent high-profile backlash against Bud Light, Target, and others could have a chilling effect on creativity, something Goodby said companies should resist. "Do not let things like this make us careful about what we do," he said. "Because we can't be careful. We have to take chances and we have to do things and we have to represent something. Own it and go forward with it."Editor's note: June 21, 2023: The original story included a quote from Rajamannar from the eevnt about the True Card, which was was replaced with a statement from Mastercard.

Marketing leaders are urged to be bold and align with purpose &mdash; as long as it's true to the brand

<ul class="summary-list"><li>This is an excerpt from a story delivered exclusively to Business Insider Intelligence <keyword id="34991" type="ORGANIZATION" weightage="100" keywordseo="transportation">Transportation</keyword> &amp; Logistics Briefing subscribers. </li><li>To receive the full story plus other insights each morning, <a href="https://www.businessinsider.com/intelligence/transportation-and-logistics-research-bundle?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=briefing_post&amp;itm_content=top_text&amp;itm_term=bundle_subscription_text_link-porsche-electric-vehicle-milestone-threatens-tesla-2019-7">click here.</a></li></ul>Porsche surpassed 30,000 reservations for its upcoming Taycan electric sports car, <a href="https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly93d3cuYmxvb21iZXJnLmNvbS9uZXdzL2FydGljbGVzLzIwMTktMDctMjkvcG9yc2NoZS1zLWJhdHRlcnktcG93ZXJlZC10YXljYW4tb24tdHJhY2stdG8tem9vbS1wYXN0LTkxMQ/5d233c18f730436f2414784fBd9b28526" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly93d3cuYmxvb21iZXJnLmNvbS9uZXdzL2FydGljbGVzLzIwMTktMDctMjkvcG9yc2NoZS1zLWJhdHRlcnktcG93ZXJlZC10YXljYW4tb24tdHJhY2stdG8tem9vbS1wYXN0LTkxMQ/5d233c18f730436f2414784fBd9b28526&amp;source=gmail&amp;ust=1564657920807000&amp;usg=AFQjCNEmcM4jSHy6jGgGNVCel9NBIUzb7Q">according to</a> Bloomberg. The new reservation number builds on news from January 2019 that the company <a href="https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly9pbnRlbGxpZ2VuY2UuYnVzaW5lc3NpbnNpZGVyLmNvbS9wb3N0L3BvcnNjaGUtcHJlc2VudHMtYS10aHJlYXQtdG8tdGVzbGEtZmxpeGJ1cy1hZGRzLWEtdnItZXhwZXJpZW5jZS1mb3ItcmlkZXJzLWhlbGxvYmlrZXMtdW5pcXVlLXN0cmF0ZWd5LWhlbHBzLWl0LWdhaW4taW50ZXJlc3QtZnJvbS1pbnZlc3RvcnMtMjAxOC0xMg/5d233c18f730436f2414784fB730dea4a" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly9pbnRlbGxpZ2VuY2UuYnVzaW5lc3NpbnNpZGVyLmNvbS9wb3N0L3BvcnNjaGUtcHJlc2VudHMtYS10aHJlYXQtdG8tdGVzbGEtZmxpeGJ1cy1hZGRzLWEtdnItZXhwZXJpZW5jZS1mb3ItcmlkZXJzLWhlbGxvYmlrZXMtdW5pcXVlLXN0cmF0ZWd5LWhlbHBzLWl0LWdhaW4taW50ZXJlc3QtZnJvbS1pbnZlc3RvcnMtMjAxOC0xMg/5d233c18f730436f2414784fB730dea4a&amp;source=gmail&amp;ust=1564657920807000&amp;usg=AFQjCNHlRIyOL7zyVlfkO0emfZnmHTjl-w">increased</a> its planned production number from 20,000 electric vehicles (EVs) to around 40,000 after it experienced higher-than-expected interest in the car. <div class="KonaFilter image-container display-table float_right no-rightrail"><div><div class="image"></div></div></div>What it means: Porsche is on course to make a big entrance into the EV market, and could disrupt longtime market leader Tesla.Porsche's Taycan is poised to be a significant threat to Tesla's high-end Model S.Porsche North America president and CEO Klaus Zellmer <a href="https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly93d3cuY25ldC5jb20vcm9hZHNob3cvbmV3cy9wb3JzY2hlLXRheWNhbi10ZXNsYS1vcmRlcnMv/5d233c18f730436f2414784fBa63d9a18" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly93d3cuY25ldC5jb20vcm9hZHNob3cvbmV3cy9wb3JzY2hlLXRheWNhbi10ZXNsYS1vcmRlcnMv/5d233c18f730436f2414784fBa63d9a18&amp;source=gmail&amp;ust=1564657920807000&amp;usg=AFQjCNFLS7WYW0K9WGLTEMAEOABHkYs1Tw">said</a> in January that over half of the signups for the Taycan at the time were not previous Porsche owners; in fact, Tesla owners were the Taycan's number one source of interest - historically Porsche lures customers from BMW, Audi, or Mercedes. Moreover, if Porsche continues to see high demand for its EV, it may be able to lean on its manufacturing experience to meet customer orders without <a href="https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly93d3cuY2FyYW5kZHJpdmVyLmNvbS9uZXdzL2EyNjk0ODc0NC90ZXNsYS1tb2RlbC0zLWRlbGl2ZXJpZXMtZGVsYXlzLw/5d233c18f730436f2414784fB6aa44746" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly93d3cuY2FyYW5kZHJpdmVyLmNvbS9uZXdzL2EyNjk0ODc0NC90ZXNsYS1tb2RlbC0zLWRlbGl2ZXJpZXMtZGVsYXlzLw/5d233c18f730436f2414784fB6aa44746&amp;source=gmail&amp;ust=1564657920807000&amp;usg=AFQjCNEEUo3N4CjAQutz7fVFn5bwPrjAtQ">delays</a> or issues with production <a href="https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly93d3cuY25iYy5jb20vMjAxOS8wNy8xNS90ZXNsYS13b3JrZXJzLWluLWdhNC10ZW50LWRlc2NyaWJlLXByZXNzdXJlLXRvLW1ha2UtbW9kZWwtMy1nb2Fscy5odG1s/5d233c18f730436f2414784fBaca03fbb" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly93d3cuY25iYy5jb20vMjAxOS8wNy8xNS90ZXNsYS13b3JrZXJzLWluLWdhNC10ZW50LWRlc2NyaWJlLXByZXNzdXJlLXRvLW1ha2UtbW9kZWwtMy1nb2Fscy5odG1s/5d233c18f730436f2414784fBaca03fbb&amp;source=gmail&amp;ust=1564657920807000&amp;usg=AFQjCNHUR6kC0hqSbzVr7GshFQtQFxQmCw">quality</a> - things that have plagued Tesla - which could further bolster interest in its offering.The bigger picture: While early interest might come from consumers in the market for premium models, automakers can't focus only on high-end EVs to recoup their investments. EVs must appeal to a wider audience with more accessible options. So far, automakers have unveiled plans to invest over <a href="https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly9ncmFwaGljcy5yZXV0ZXJzLmNvbS9BVVRPUy1JTlZFU1RNRU5ULUVMRUNUUklDLzAxMDA4MVpCM0hEL2luZGV4Lmh0bWw/5d233c18f730436f2414784fB1ea41f72" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly9ncmFwaGljcy5yZXV0ZXJzLmNvbS9BVVRPUy1JTlZFU1RNRU5ULUVMRUNUUklDLzAxMDA4MVpCM0hEL2luZGV4Lmh0bWw/5d233c18f730436f2414784fB1ea41f72&amp;source=gmail&amp;ust=1564657920807000&amp;usg=AFQjCNGH44ULMP4dyGSbj2XX7oZZPyTCPw">$300 billion</a> in developing EVs, a figure that automakers hope to recoup in the near future. Limiting EV options to high-end vehicles cuts off an automaker from a large segment of a potentially massive market - the global fleet of EVs will reach <a href="https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly93d3cuaWVhLm9yZy9wdWJsaWNhdGlvbnMvcmVwb3J0cy9nbG9iYWxldm91dGxvb2syMDE5Lw/5d233c18f730436f2414784fB65856c25" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly93d3cuaWVhLm9yZy9wdWJsaWNhdGlvbnMvcmVwb3J0cy9nbG9iYWxldm91dGxvb2syMDE5Lw/5d233c18f730436f2414784fB65856c25&amp;source=gmail&amp;ust=1564657920807000&amp;usg=AFQjCNGZXvEyCnGrYuuavdx-lwpuGLNwFQ">127 million</a> by 2030, up from just over 5 million in 2018, according to the International Energy Agency.High price tags are holding consumers back from making an EV their next purchase - 57% of consumers would be more likely to purchase an EV if it were the same price as a traditional vehicle, according to a study by Volvo <a href="https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly93d3cudGhlZHJpdmUuY29tL25ld3MvMjY2MzcvYW1lcmljYW5zLWNpdGUtcmFuZ2UtYW54aWV0eS1jb3N0LWFzLWxhcmdlc3QtYmFycmllcnMtZm9yLW5ldy1ldi1wdXJjaGFzZXMtc3R1ZHk/5d233c18f730436f2414784fBa935be35" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly93d3cudGhlZHJpdmUuY29tL25ld3MvMjY2MzcvYW1lcmljYW5zLWNpdGUtcmFuZ2UtYW54aWV0eS1jb3N0LWFzLWxhcmdlc3QtYmFycmllcnMtZm9yLW5ldy1ldi1wdXJjaGFzZXMtc3R1ZHk/5d233c18f730436f2414784fBa935be35&amp;source=gmail&amp;ust=1564657920807000&amp;usg=AFQjCNHInMxmRPsoFdxAUT0bZvHNYs5btw">cited by</a> The Drive. Lower-priced options and different form factors like sedans, pickup trucks, or minivans would expand the potential audience for their EVs, as it seems many consumers are looking for a lower-priced option.For example, Tesla's high-end Model S and X vehicles accounted for just <a href="https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly9pci50ZXNsYS5jb20vbmV3cy1yZWxlYXNlcy9uZXdzLXJlbGVhc2UtZGV0YWlscy90ZXNsYS1xMi0yMDE5LXZlaGljbGUtcHJvZHVjdGlvbi1kZWxpdmVyaWVz/5d233c18f730436f2414784fBc406147e" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly9pci50ZXNsYS5jb20vbmV3cy1yZWxlYXNlcy9uZXdzLXJlbGVhc2UtZGV0YWlscy90ZXNsYS1xMi0yMDE5LXZlaGljbGUtcHJvZHVjdGlvbi1kZWxpdmVyaWVz/5d233c18f730436f2414784fBc406147e&amp;source=gmail&amp;ust=1564657920807000&amp;usg=AFQjCNFIVE_tFM6CxaeSpYT0jWltCLoILA">17%</a> of their total production in Q2 2019; the remaining 83% was the company's lower-cost Model 3, which starts at a purchase price of <a href="https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly93d3cudGVzbGEuY29tL21vZGVsMy9kZXNpZ24jYmF0dGVyeQ/5d233c18f730436f2414784fB51b08794" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=https://e.businessinsider.com/click/17642549.2890/aHR0cHM6Ly93d3cudGVzbGEuY29tL21vZGVsMy9kZXNpZ24jYmF0dGVyeQ/5d233c18f730436f2414784fB51b08794&amp;source=gmail&amp;ust=1564657920807000&amp;usg=AFQjCNGdSFOcuLw64sOl0IH6wFPJ_9R84A">$38,990</a>. Interested in getting the full story? Here are three ways to get access: <ol><li>Sign up for the Transportation &amp; Logistics Briefing to get it delivered to your inbox 4x a week. &gt;&gt; <a href="https://www.businessinsider.com/intelligence/newsletter-membership?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=briefing_post&amp;itm_content=get_started_text&amp;itm_term=bii_briefing_text_link-porsche-electric-vehicle-milestone-threatens-tesla-2019-7&amp;vertical=transportation">Get Started</a></li><li>Subscribe to a Premium pass to Business Insider Intelligence and gain immediate access to the Transportation &amp; Logistics Briefing, plus more than 250 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. &gt;&gt; <a href="https://www.businessinsider.com/intelligence/transportation-and-logistics-research-bundle?IR=T&amp;itm_source=businessinsider&amp;itm_medium=content_marketing&amp;itm_campaign=briefing_post&amp;itm_content=learn_more_text&amp;itm_term=bundle_subscription_text_link-porsche-electric-vehicle-milestone-threatens-tesla-2019-7">Learn More Now</a></li><li>Current subscribers can read the full briefing <a href="https://intelligence.businessinsider.com/post/early-interest-in-porsches-taycan-walmart-tests-middle-mile-delivery-automation-2019-7">here.</a></li></ol><a href="https://www.businessinsider.com/intelligence/future-of-retail?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=transportation&amp;itm_campaign=future-of-retail"></a>

A rise in Porsche EV interest could threaten longtime market leader Tesla

MUMBAI: <keyword id="160270" type="CITY" weightage="80" keywordseo="The-State-Bank-of-India">The State Bank of India</keyword> (SBI) has emerged a <keyword id="2517653" type="UNKNOWN" weightage="60" keywordseo="surprise-market-leader">surprise market leader</keyword> in mobile banking, accounting for half of all mobile transactions in the country. Although traditionally new generation private banks and foreign banks have been the early adopters of alternative platforms, the 208-year-old Indian bank is preparing to leapfrog its customers directly from branches to mobiles as part of its strategy to reach out to the unbanked and decongest branches. 
 
The bank has over 1.15 crore mobile banking users, which is larger than the mobile banking customer base of large banks in the West. Only a couple of Chinese banks have more mobile banking customers. The number is expected to rise dramatically as the ratio of mobile banking customers rises from 4.5% at present to 12% in two years and possibly 60% after three years as the bank completes its channel integration. 
 "Message-based banking, where you don't even need smartphones, has just been launched (in India). I do believe that once this is understood by people, there will be an explosion of activity in the mobile space. This is what the future holds," said SBI chairman <keyword id="6379603" type="PERSON" weightage="80" keywordseo="Arundhati-Bhattacharya">Arundhati Bhattacharya</keyword>. She said mobile banking will also play a large part in the role of the yet-to-be-launched payment banks with which SBI plans to have tie-ups. 
 The aggressive promotion of alternative channels is part of the bank's strategy to decongest branches, which are expected to come under even more pressure as the bank opens over 1.5 crore new accounts under the <keyword id="71" type="POSITION" weightage="80" keywordseo="Prime-Minister">Prime Minister</keyword>'s <keyword id="6392137" type="UNKNOWN" weightage="80" keywordseo="Jan-dhan-Yojana">Jan Dhan Yojana</keyword> . 
 
At present, customers can access the bank through "State Bank Anywhere" - the bank's Smartphone app which is integrated with Internet banking. The service which is expected to be used by the masses is "State Bank Freedom", which can be accessed by all kinds of phones. 
 
 
 
"We see a business opportunity in payment banks as they can dovetail into the main bank by acting as a customer touchpoint for us. As to promoting a payment bank ourselves, we will see what the opportunities and regulations are like. If you are a promoter, there is a restriction on how much you can use it," said Bhattacharya. 
 
To reduce the crowd at the branches, SBI has approached all state governments, asking them to accept payments online instead of insisting on a challan from the SBI. 
 
"A lot of it is also for small value remittances. We are offering regular remitters a 'green remit card', which enables him to swipe his card in a cash deposit machine, deposit the cash and send money instantly," said Bhattacharya.

SBI Has 50% Share In Indian Mobile Banking

CMO Insider's new advisory council includes marketing leaders from Mastercard, Sesame Workshop, Indeed and more

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Lauren DeCicca/Getty Images"Brandless is going to be the number one destination for CBD wellness products in the future," CEO John Rittenhouse told Business Insider.</div></div></div><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/brandless">Brandless</a> is venturing into the uncharted world of <a href="https://www.businessinsider.com/category/cbd">CBD.</a></li><li>Business Insider spoke to CEO John Rittenhouse and new chief merchant officer Jen Hagness about the online retailer's pivot. </li><li>"Brandless is going to be the number one destination for CBD wellness products in the future," Rittenhouse told Business Insider.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>Brandless isn't just looking to sell CBD products; the e-commerce business wants to establish an industry gold standard for all other manufacturers to follow.Previously, under the tenure of founder and former CEO Tina Sharkey, Brandless was primarily known for its online grocery business and <a href="http://www.businessinsider.com/brandless-site-that-sells-everything-for-3-dollars-2017-7">set price points</a>. CEO John Rittenhouse told Business Insider that the company is "declaring a success" as it looks to double down on new categories."Brandless is going to be the number one destination for CBD wellness products in the future," he said. "In order to do that, we spent three and a half months getting up to speed and understanding the science behind it."Cannabidiol, or CBD, is an ingredient found in cannabis that may have medicinal uses in treating pain. Moving into the CBD business is one of three prongs to a strategy that Rittenhouse and newly appointed chief merchant officer Jen Hagness are dubbing "Brandless 2020."The rest of the forward-looking plan includes a product rollout at retailers across the country and a jump into beauty and wellness items. Rittenhouse said that Brandless' CBD initiative will kick off with brands like Plant People and Sunsoil.Read more: <a href="https://www.businessinsider.com/latest-news-about-cbd-science-business-and-investing-2019-6">Here's everything you need to know about CBD, the cannabis compound that's in everything from coffee to ice cream and could soon be a $16 billion business</a>The next phase of the pivot will include introducing two Brandless-owned CBD products: a mid-line option made with an outside manufacturer's formulations, and a premium brand with Brandless' own mix of botanical oils and packaging."Consumers really trust Brandless and what we stand for," Hagness told Business Insider. "As you come to our site to buy CBD, you'll know the manufacturer. You'll know the package has been really thoroughly tested with rigorous standards, which is not really in the marketplace today."But why focus on <a href="https://www.fda.gov/consumers/consumer-updates/what-you-need-know-and-what-were-working-find-out-about-products-containing-cannabis-or-cannabis">CBD</a>, a product that has not been officially regulated at a federal level? Hagness, who previously served as an executive at Caribou Coffee for five years, says that the answer is simple: customers conveyed through direct feedback and collected data that they wanted to buy CBD."We're bringing products to market that we know there's a huge demand for," Hagness said. Rittenhouse said that consumers ages 55 and older were especially interested in CBD, to help manage pain and sleep cycles. Brightfield Group analysts told <a href="https://www.cnn.com/2019/07/09/business/cbd-sales-fda/index.html">CNN</a> that the CBD business could become a $24 billion industry by 2023.That being said, don't expect to be able to buy CBD-infused coffee on Brandless' site anytime soon. Rittenhouse said he was "saddened" by the overuse of CBD in different products, as well as the unscientific claims about the substance's healing properties. In fact, Rittenhouse and Hagness said that they are looking to turn Brandless into the "standard bearer" of the CBD industry. "We have an initiative to be the certifying body for CBD products in the United States," Rittenhouse said.The CEO says the idea would be to certify "other people's CBD products, all the way through the lab, not just with a mark of trust, but with a certification process." That would mean testing for pesticides and herbicides and producing literature on topics like the types of fertilizers appropriate for growing the product. "We want to kind of be a leader in that learning, for others as well as for consumers and, frankly, other producers that are out there," Rittenhouse said. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/what-is-cbd-oil-how-made-marijuana-cannabis-plant-health-2018-8">What is CBD oil and how did it become a $1 billion industry?</a></h3> <div> </div> </div>

Brandless executives reveal the e-commerce company's plan to become the CBD market leader

<ul><li>The market could be on the verge of experiencing an internal rotation out of the winners and into the losers, sparked by a <keyword id="99719" type="PERSON" weightage="60" keywordseo="Joe-Biden">Joe Biden</keyword> victory this November, JPMorgan said in a note on Monday.</li><li>With polls favoring Biden and the chance of a clear result of the November <keyword id="6359191" type="UNKNOWN" weightage="60" keywordseo="election">election</keyword> rising, <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword> are likely to continue to trade higher after the election if Biden wins, according to JPMorgan.</li><li>The bank said value stocks could outperform growth stocks after the election.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">Visit Business Insider's homepage for more stories</a>.</li></ul>A Joe Biden victory this November would move <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> higher, JPMorgan said in a note on Monday.Investors are looking for a quick resolution to the presidential election rather than a contested result — therefore, a clear-cut winner will help the market move past the associated uncertainty risk and ultimately move higher, JPMorgan said.JPMorgan pointed to the 2000 election as evidence that the market wouldn't do well in a contested-election scenario. The S&amp;P 500 fell 12% between that election and shortly after Al Gore conceded to George W. Bush that December.With polls favoring Biden following the first presidential debate, JPMorgan said it appeared more likely that there would be a clear winner this November and that a Biden victory would "not be a negative for markets."Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-investing-ideas-for-4th-quarter-rbc-2020-10" target="_blank" rel="noopener">These 30 global stocks are positioned to stay on top in the 4th quarter as the contrast between a recovering economy and rising COVID cases keeps markets volatile, RBC says</a>Despite Biden's proposal to increase the corporate tax rate, JPMorgan said it believed that Biden would instead focus on rebuilding the economy and that any tax increases would be "watered down."But a turn in the market leaders, like growth and technology stocks, "might be coming" after the November election, JPMorgan said.Specifically, a rotation out of growth stocks and into value stocks could be sparked by a more reflationary backdrop, the potential for further stimulus, and positive news on the virus front, the bank said.JPMorgan said that consensus estimates were that a COVID-19 vaccine would be announced "in the near term," with distribution and implementation in the first quarter of next year.Read more: <a href="https://www.businessinsider.com/stock-picks-for-housing-market-boom-from-hedge-fund-manager-2020-10" target="_blank" rel="noopener">A 20-year hedge-fund vet shares the 3 stocks he thinks make the perfect play for a booming housing recovery as the US heads for the suburbs</a>A COVID-19 vaccine would help hasten the economic reopening, which, in effect, would benefit value stocks that are more tied to the physical economy. But a bigger benefit to value stocks would be a strengthening US dollar and a rise in Treasury yields, according to JPMorgan.While a rotation out of growth and into value is possible heading into the end of the year, JPMorgan isn't recommending investors sell out of technology stocks.Technology stocks are supported by buybacks and somewhat protected from a weak consumer, and "relative valuations still look undemanding," JPMorgan said.JPMorgan isn't the only bank that views a Biden win as a positive for the <keyword id="6357440" type="DEFINITION" weightage="60" keywordseo="Stock-Market">stock market</keyword> and the economy.On Monday, <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-biden-blue-wave-boost-growth-goldman-sachs-2020-10-1029649255">Goldman Sachs said</a> that a so-called blue wave this November would help drive economic growth on longer-term spending measures targeting infrastructure, healthcare, climate, and education.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-cheap-growth-alternatives-big-tech-ms-2020-10" target="_blank" rel="noopener noreferrer">MORGAN STANLEY: Buy these 16 stocks to cheaply invest in next-generation technologies and reap the future profits they generate</a>

Why a Biden victory will lift a group of beaten-down stocks at the expense of market leaders, according to JPMorgan

<ul class="summary-list"><li>Locus Robotics raised $117 million in a round led by Goldman Sachs.</li><li>The Series F round brings the company's valuation to nearly $2 billion.</li></ul>Locus Robotics announced a $117 million Series F round Tuesday, led by Goldman Sachs' growth equity division and G2 Venture Partners — both new investors. Goldman Managing Director Mark Midle, who will be joining Locus' board, called the company a "market leader" in the warehouse automation space in a statement accompanying this announcement. Locus CEO Rick Faulk told Insider that Goldman, G2, and other investors in the oversubscribed round have been watching Locus for more than four years. Faulk's ambition to take the company public in the next year or two encouraged him to bring new talent to the board. "If the window does open, hopefully in the next 12 to 24 months, we're ready to go. We've got the numbers to do it," Faulk told Insider. Locus's core product is a "co-bot" — a 5-foot tall robot with a small screen on top and a 2-foot circular base that can hold a box, bin, or shelves. Human workers take items off of warehouse shelves and the robots show up to ferry the items to a conveyor belt or packing station. The system cuts miles of walking out of workers' shifts, according to the company, and ups productivity by a factor of two or three. Crucially, it offers a relatively straightforward integration process for warehouses, according to the company.The company now has more than $100 million in contracted, recurring revenue, said Faulk. The pandemic spring boarded robotics adoption in e-commerce warehouses, and a tight labor market has kept demand high. But that doesn't mean all warehouse robotics startups are flourishing. Venture funding is tightening and those without proven results are in trouble, Faulk said. Beyond the efficiency brought by the robots themselves, Locus's "robots-as-a-service" business model doesn't require a multi-million upfront purchase, which makes it an easier sell for warehouse operations. Faulk said it's also more resistant to corporate belt-tightening because over the course of multi-year contracts, warehouses get more efficient at utilizing the system, which drives down their costs per order. Founded in 2014, Locus robots are in use in more than 320 warehouses around the world. Existing customers include <a href="https://www.supplychaindive.com/news/dhl-locus-robotics-partnership-fulfillment-carhartt/632760/">DHL</a>, Geodis, CEVA Logistics, Whiplash, Radial, and more. While waiting for a more favorable climate for an IPO, Faulk said, Locus will grow its headcount to 500 this year from 280 at the end of 2021, expand into the Asian market, and consider acquisitions "opportunistically."

A Goldman Sachs-led $117 million round is the last stop before 'market leader' Locus Robotics' IPO

MUMBAI: <keyword id="44642" type="CITY" weightage="80" keywordseo="Sun-Pharma">Sun Pharma</keyword> and <keyword id="82365" type="CITY" weightage="40" keywordseo="Ranbaxy-Laboratories">Ranbaxy Laboratories</keyword> announced that they have entered into definitive agreements pursuant to which the former will acquire 100% of Ranbaxy in an all-stock transaction. The deal being termed as a "landmark transaction", has been estimated at $4 billion. 
 Under terms of the agreed deal, Ranbaxy shareholders will get 0.8 of a <keyword id="90710" type="CITY" weightage="80" keywordseo="Sun-Pharmaceutical">Sun Pharmaceutical</keyword> share for each Ranbaxy share they own. The exchange ratio represents an implied value of Rs 457 for each Ranbaxy share, a premium of 18% to Ranbaxy’s 30-day volume-weighted average share price and a premium of 24.3% to Ranbaxy's 60-day volume-weighted average share price, in each case, as of the close of business on April 4, 2014, said the statement. 
 
The combination of Sun Pharma and Ranbaxy will be the fifth-largest specialty generics company in the world and the largest pharmaceutical company in India. 
 The merged entity would create a new <keyword id="139821" type="POSITION" weightage="40" keywordseo="market-leader">market leader</keyword> in the immensely fragmented Rs 75,000 crore domestic pharma market, with the company commanding close 9.3% <keyword id="34527" type="UNKNOWN" weightage="40" keywordseo="market-share">market share</keyword>, according to AIOCD AWACS.

Sun Pharma To Acquire Ranbaxy In $4 Billion Deal

<ul><li>The third quarter for 2018-19 was expected to be marked by slowing <keyword id="45663" type="ORGANIZATION" weightage="20" keywordseo="Revenue">revenue</keyword> growth and lower margins for India Inc. </li><li>However, three of India’s largest companies, <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword>, <keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword> and Hindustan Unilever bucked the trend. </li><li>All posted solid earnings results, but this was largely due to the base effect from the year-ago period and the rupee’s depreciation. </li></ul>The third quarter for 2018-19 was expected to be an unmemorable one in terms of real earnings for India Inc. But the results posted at least by three major Indian companies have bucked the trend. Towards the end of the year, revenue growth for the corporate sector was slowing, according to CRISIL, a ratings agency. In fact, India’s corporate sector was forecast to record <a href="https://www.crisil.com/en/home/newsroom/press-releases/2019/01/india-inc-revenue-growth-seen-down-400-500-bps-in-q3.html">a 4-5% decline</a> in <keyword id="4121031" type="PERSON" weightage="20" keywordseo="Q3">Q3</keyword> revenue growth amid a sluggish festive season <a href="https://www.businessinsider.in/heres-why-indias-central-bank-is-hiking-rates-consecutively-for-the-first-time-since-2013/articleshow/65243193.cms">and consecutive rate hikes</a> by the Reserve Bank of India (RBI). Those factors hurt demand for automobiles - in particular - and raw materials costs were higher, especially for imported inputs, thereby putting profits under pressure. However, in nominal terms, India Inc recorded a boost since the year-ago quarter in 2017-18, which was marked by the lingering effects of the demonetisation and the flawed implementation of GST. In addition, the rupee had weakened nearly 10% year-on-year, thereby increasing earnings for exporters and companies with a large international presence. The aforementioned factors were mostly seen in the Q3 results of India’s market leaders, which counted on their strong urban presence and scale to offset subdued rural demand. This defied the larger performance of India’s corporate sector. Reliance Industries, India’s largest company by market capitalisation, posted a 9% rise in its net <keyword id="6362247" type="UNKNOWN" weightage="20" keywordseo="Profit">profit</keyword> to ₹102.5 billion for the quarter ended December 2018, buoyed by revenue growth at its highly leveraged telecom unit, Jio, and petrochemical businesses, which benefited from a year-on-year increase in oil prices. As a result of accelerated store expansion, its retail unit bucked the trend and posted strong festive sales, nearly doubling its quarterly revenue to ₹358 billion. The consumer unit’s expansion has been supported by profits from the petrochemicals business. IT major TCS, the country’s second largest firm by market cap, reported a 24% rise in net income to ₹81.1 billion, based on strong earnings from its cloud computing and analytics business in international markets like the UK and Europe. Its overall margins were, however, weighed down by higher costs such as hiring expenses as it onboarded a lot more employees during the quarter in order to meet its higher deal order. Meanwhile, consumer goods giant HIndustan Unilever Ltd, fresh off <a href="https://www.businessinsider.in/hindustan-unilever-and-glaxosmithklines-domestic-consumer-unit-are-merging-in-what-is-said-to-be-indias-largest-consumer-goods-deal-ever/articleshow/66933852.cms">its deal with GlaxoSmithKline</a>, saw sales rise 12% to ₹93.4 billion as revenue from the home care and beauty segments rose in the double digits owing to price hikes. The company’s profits increased by 9% to ₹14.4 billion - the slowest pace of income growth in a year but in line with analysts’ expectations. Looking ahead to 2019-2020, <a href="https://www.businessinsider.in/no-low-inflation-is-not-always-a-good-thing-heres-why/articleshow/67541528.cms">a depressed inflation outlook </a>will hamper revenue growth further. India Inc will count <a href="https://indianexpress.com/article/business/india-inc-rbi-governor-pitches-rate-cut-liquidity-shaktikanta-das-5543853/">on a rate cut </a>by India’s central bank and increase liquidity support to banks in order to offset external pressures such as oil price volatility, global trade tensions and rate hikes in developed markets. Ahead of general elections, the government’s attempts to boost rural consumption will likely pay off in higher revenue growth in the first six months of 2019 but companies will have limited pricing power. SEE ALSO: <a href="https://www.businessinsider.in/reliance-industries-just-beat-tata-consultancy-services-to-become-indias-highest-valued-company/articleshow/65212268.cms">Reliance Industries just beat Tata Consultancy Services to become India’s highest-valued company</a> <a href="https://www.businessinsider.in/hindustan-unilever-and-glaxosmithklines-domestic-consumer-unit-are-merging-in-what-is-said-to-be-indias-largest-consumer-goods-deal-ever/articleshow/66933852.cms">Hindustan Unilever and GlaxoSmithKline’s domestic consumer unit are merging in what is said to be India’s largest consumer goods deal ever</a>

India Inc’s market leaders had a solid end to 2018 but their gains were largely due to external factors

Planning a trip has always been a headache as much excited we be. Where to go, how to go, what to do and how to do it! Having to take care of everything, we sometimes end up with the wrong plan and end up compromising on more than one factor. 
 Subramanya Sharma, CMO, <keyword id="132652" type="COMPANY" weightage="100" keywordseo="Cleartrip">Cleartrip</keyword>, gives you the step by step plan to enjoy the best holiday getaway ever! 

	1. Fix the budget- This is one of the most important part which many often underestimate. After you have fixed the budget that suits you the most, there are more than enough options on the destinations and accommodations without compromising on the quality, even if it is a low budget.
 

	2. Location- The next critical thing is choosing a location.
 

	3. Activities- With the <keyword id="6354692" type="ORGANIZATION" weightage="100" keywordseo="Travel">travel</keyword> window becoming smaller with respect to days, people unwind in different activities and book activities rather than packages. Activities can even make a 2-3 day vacation more memorable than long trips. 

	4. Travel ticket Bookings- Book tickets well in advance, 60 day window is the best time to book as prices are the best in terms of flights. If there is no flight component, it is easier. One can spend more on <keyword id="6368036" type="PERSON" weightage="100" keywordseo="Hotels">hotels</keyword> or activities. 

	5. Hotel- Choosing the perfect hotel has always been a task.
 

	“If you are going on a leisure trip pick a hotel which is not in the middle of the town. If you are the one who like going places, staying around popular tourist destinations is important as you do not have to worry about the travel and finding a hotel.”
 

	After deciding on this, look for reviews. 
 

	“Hotels with 20-30 reviews is a good filter.”
 

	While booking, watch out for sales from online travel companies or airlines. Don’t make this last minute.

	 
	 
	(Image credits: clipartpanda)

Chief of Online travel market leader tells you how to plan your perfect trip this holiday season!

At a time when <keyword id="6354720" type="PERSON" weightage="80" keywordseo="Ola">Ola</keyword> and <keyword id="6357120" type="UNKNOWN" weightage="80" keywordseo="PayTM">Paytm</keyword> are going the extra mile to grab India’s $5 billion bus <keyword id="6354692" type="ORGANIZATION" weightage="80" keywordseo="Travel">travel</keyword> market, the country’s largest online bus ticketing agency <keyword id="6359128" type="COMPANY" weightage="80" keywordseo="Redbus">RedBus</keyword> is not far behind. The Ibibo-owned enterprise is looking to launch into newer categories and markets to expand its physical footprint. 
 
The company is looking to expand into hotel and taxi bookings soon. It is also looking to tap into international markets. RedBus currently offers around 80,000 routes in India with over 1,500 bus operators and reportedly owns 70% of the total market share in online bus ticketing. 
 
“If we find an interesting opportunity in overseas startups, we would look at acquisition. In a market as fragmented as bus travel, if one could have real time updates and online reservation of seats, it adds value to the experience”, Prakash Sangam, CEO, RedBus confirmed. 
 
Sangam insists that a bus traveler has very distinct needs for hotels that include free early check-in and proximity to bus stops that give them the edge. 
 
“We know the dropping points across cities, and can promote hotels in the vicinity”, he adds. 
 
Sangam observes the segment has evolved from the white collar market with IT professionals from Southern metropolitans like Bangalore travelling to and from home-towns in AP and Tamil Nadu to more diverse user-bases. 
 
 “As the internet is being widely adopted by the country, the target market has increasingly shifted from the luxury Volvo buses to non-AC ones that cater to students, small-time businessmen and salesmen”, he says, “While the market is still dominated by the metros, around 70% of our sales are from routes connecting the metros or the ones connecting metros to Tier II cities”, he adds. 
 
Mobile continues to be the platform of choice for new bookings with mobile bookings growing at a whopping 300% while desktop lags behind at a mere 30%. 
 
When asked about the stiff competition in an increasingly crowded market, Sangam dismisses the possibility there’s any match for them when it comes to bus ticketing, “We sell 20 times the tickets that a MakeMyTrip and a Yatra will sell combined. That debate has been settled. It has been clear in people’s minds that when have to do bus ticketing they’ll hire RedBus”, he asserts. 
 
(Image credit: Google Play)

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