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News Roundup: Zenrin In Talks To Buy 24% Stake In MapMyIndia

Multi-brand retail: Keep FDI riders to minimum, says PM’s advisory panel

There is no consensus over the limit within the Government. The Department of Industrial Policy and Promotion (DIPP) wants 51 per cent equity participation for the foreign partner, while the Consumer Affairs Ministry is for a 49 per cent cap. Now, the CoS will have the final word. Also, the PMEAC is said to be averse to too many riders for FDI in the sector. The more the number of riders, the more the possibility of foreign investors opting out [source].

National register to help track stolen vehicles

The national registry is a central pool of all driving licences (DLs) and vehicles (RC) registered in the country. All states and road transport offices (RTOs) can access it for a quick verification. This will weed multiple driving licences across states, which had earlier helped errant drivers to evade prosecution. Now, the states have achieved 100% computerization of the data and connectivity [source].

Banks see a drop in branch usage, loyalties: McKinsey

The time spent by consumers in the bank branches is seeing a decline as consumers prefer channels like internet and mobile banking, according to the latest survey on personal financial services by international consultancy firm McKinsey & Company. The traditional bank branch channel have seen a 15% drop in usage in India between 2007 and 2011, while new channels like ATM, internet and mobile banking has seen a manifold increase in usage but on a very low base. [source]

Zenrin in talks to buy 24% stake in MapmyIndia

Japanese map publisher Zenrin is in advanced talks to invest $30 million for a 24% stake in MapmyIndia, the country’s largest provider of digital-map data and consumer-navigation services [source].

Also see: mig33 Announces Developer Program, Opening Emerging Mobile Markets to Social Games Developers

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