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Will ensure liquidity of NBFCs, MFs, SMEs: Jaitley
New Delhi, Sep 24 (IANS) The government will take all measures to ensure adequate liquidity for non-banking financial companies (NBFCs) and mutual funds, Finance Minister Arun Jaitley said on Monday in the wake of the uncertainty created by the ongoing debt crisis in the IL&FS group.
Jaitley’s assurance comes after the shares of housing finance companies came under sudden heavy selling pressure on Friday amid crisis at the Infrastructure Leasing and Financial Services Ltd (IL&FS).
“The Government will take all measures to ensure that adequate liquidity is maintained/provided to the NBFCs, the mutual funds and the SMEs,” the Finance Minister tweeted.
In this regard, both the Reserve Bank of India (RBI) and markets regulator Securities and Exchange Board of India (Sebi) said on Sunday that they were closely monitoring developments in the financial sector and were ready to take appropriate action if required.
Also on Sunday, the country’s largest lender — state-run State Bank of India (SBI) –asked NBFCs not to worry about credit availability as it would continue to support them.
“Some comments are being attributed to the SBI about it being wary of lending to the NBFCs. The rumours are baseless. The SBI lends support to the NBFCs in private and public sectors within the regulatory policy framework and will continue to do so,” SBI Chairman Rajnish Kumar said in a statement.
On the other hand, the recent RBI guidelines on the co-lending model opens up more opportunities for collaboration between the SBI and non-deposit taking NBFCs to increase lending to priority sectors, he added.
The markets, however, failed to be reassured by these statements. The BSE Sensex lost nearly 600 points during the mid-afternoon session on Monday, with heavy selling activity in banking, finance and auto stocks. Similarly, the NSE Nifty50 also was down over 180 points.
According to experts, the recent fall in NBFC stocks is the result of a tightening in the money market and a lack of clarity on IL&FS debt crisis.
Dewan Housing Finance Corporation (DHFC) stocks led the sudden fall on Friday, losing half its share price within a few hours during the afternoon session of the trade.
It closed at Rs 351.55 on BSE, lower by 259.05 — or 42.43 per cent — from its previous close of Rs 610.60 per share.
Rating agency ICRA on Monday downgraded the ratings of IL&FS for short- and long-term borrowing programmes.
The downgrade came after the company was unable to meet the commercial paper redemption obligations due on September 14, 2018.
The next day, the company reported that it had received notices for delays and defaults in servicing some of the inter-corporate deposits accepted by it.
–IANS
bc/vm
International online casino Casino Days has published a report sharing their internal data on what types and brands of devices are used to play on the platform by users from the South Asian region.
Such aggregate data analyses allow the operator to optimise their website for the brands and models of devices people are actually using.
The insights gained through the research also help Casino Days tailor their services based on the better understanding of their clients and their needs.
Desktops and Tablets Lose the Battle vs Mobile
The primary data samples analysed by Casino Days reveal that mobile connections dominate the market in South Asia and are responsible for a whopping 96.6% of gaming sessions, while computers and tablets have negligible shares of 2.9% and 0.5% respectively.
The authors of the study point out that historically, playing online casino was exclusively done on computers, and attribute thе major shift to mobile that has unfolded over time to the wide spread of cheaper smartphones and mobile data plans in South Asia.
“Some of the reasons behind this massive difference in device type are affordability, technical advantages, as well as cheaper and more obtainable internet plans for mobiles than those for computers,” the researchers comment.
Xiaomi and Vivo Outperform Samsung, Apple Way Down in Rankings
Chinese brands Xiaomi and Vivo were used by 21.9% and 20.79% of Casino Days players from South Asia respectively, and together with the positioned in third place with a 18.1% share South Korean brand Samsung dominate the market among real money gamers in the region.
Cupertino, California-based Apple is way down in seventh with a user share of just 2.29%, overshadowed by Chinese brands Realme (11.43%), OPPO (11.23%), and OnePlus (4.07%).
Huawei is at the very bottom of the chart with a tiny share just below the single percent mark, trailing behind mobile devices by Motorola, Google, and Infinix.
The data on actual phone usage provided by Casino Days, even though limited to the gaming parts of the population of South Asia, paints a different picture from global statistics on smartphone shipments by vendors.
Apple and Samsung have been sharing the worldwide lead for over a decade, while current regional leader Xiaomi secured their third position globally just a couple of years ago.
Striking Android Dominance among South Asian Real Money Gaming Communities
The shifted market share patterns of the world’s top smartphone brands in South Asia observed by the Casino Days research paper reveal a striking dominance of Android devices at the expense of iOS-powered phones.
On the global level, Android enjoys a comfortable lead with a sizable 68.79% share which grows to nearly 79% when we look at the whole continent of Asia. The data on South Asian real money gaming communities suggests that Android’s dominance grows even higher and is north of the 90% mark.
Among the major factors behind these figures, the authors of the study point to the relative affordability of and greater availability of Android devices in the region, especially when manufactured locally in countries like India and Vietnam.
“And, with influencers and tech reviews putting emphasis on Android devices, the choice of mobile phone brand and OS becomes easy; Android has a much wider range of products and caters to the Asian online casino market in ways that Apple can’t due to technical limitations,” the researchers add.
The far better integration achieved by Google Pay compared to its counterpart Apple Pay has also played a crucial role in shaping the existing smartphone market trends.
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