Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Politics / News/  The Mint Report for 13 July 2011
BackBack

The Mint Report for 13 July 2011

The Mint Report for 13 July 2011

Premium

Get ready for mobile money. A new study projects the business done through cell phones will surpass those from debit and credit cards in just a few years. According to the Boston Consulting Group, transactions from mobiles could hit $350 billion by 2015. The study says government payments alone could be worth $40 billion. And the potential for transfers from one person is another $70 billion. Small and medium enterprises might account for another might account $60 billion according to the study. All in all, fee income from these transactions could amount to $4.5 billion. And 30% of the fees are expected to come from rural areas. India has some 840 million cell phone subscriptions of which about 70% are active.

Downloading Video...

Fuel prices may have been hiked, but demand doesn’t seem to be letting up. The International Energy Agency says it expects demand in India to go up 3.7% this year. That translates into 3.46 million barrels per day. The growth forecast for 2012 is a similar 3.8%.

Indian markets ended a three-day losing streak on Wednesday after news that China had reported robust quarterly economic growth. The Sensex surged 184.40 points to 18596.02 and the Nifty jumped 59.30 to 5585.45.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 13 Jul 2011, 10:24 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App