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<ul><li>The company posted losses to the tune of ₹83.81 crore for the FY23.</li><li>It’s a completely fresh issue with no offer for sale component.</li><li>The issue proceeds will be used to fund growth, tech, capex and general corporate purposes. </li></ul>Fintech One <keyword id="20054770" type="General" weightage="20" keywordseo="mobikwik" source="keywords">Mobikwik</keyword> Systems has filed a Draft Red Herring Prospectus (DRHP) with SEBI to raise ₹700 crore for its initial public offering (<keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword>). For the fiscal 2022–23, the company’s revenue from operations has increased to ₹539.47 crore against ₹526.56 crore for fiscal 2021–22. Loss for the year decreased by 34.6% from ₹128.16 crore in fiscal 2022 to ₹83.81 crore in fiscal 2023. For the six months ended September 30, 2023, revenue from operations stood at ₹381.09 crore and profit after tax stood at ₹9.48 crore. The IPO has a face value of ₹2 is entirely a fresh issue of equity shares with no offer for sale component. The company, in consultation with the book-running lead managers, may consider a further issue of specified securities including private placement, preferential allotment, rights issue, or any other method aggregating to ₹140 crore as ‘Pre-IPO placement’. If such placement is completed, the fresh issue size will be reduced. Fresh issue to fund growth The proceeds from the fresh issue, to the extent of ₹250 crore will be used for funding growth in the financial services business, ₹135 crore for funding growth in the payment services business, ₹135 crore for investment in data, ML and AI and product and technology, ₹70.28 crore for capital expenditure for the payment devices business, and general corporate purposes. The issue is being made through the book-building process, wherein not less than 75% of the issue shall be available for allocation on a proportionate basis to qualified institutional buyers, not more than 15% of the issue shall be available for allocation to non-institutional investors, and not more than 10% of the issue shall be available for allocation to retail individual bidders. Established by Bipin Preet Singh and Upasana Taku, the fintech caters to businesses and merchants. It has extensive payments and financial services like online checkout, Kwik QR scan and pay, MobiKwik Vibe (Soundbox), MobiKwik <keyword id="20076789" type="General" weightage="20" keywordseo="edc-machine" source="keywords">EDC Machine</keyword>, and Merchant Cash Advance. Its subsidiary <keyword id="20076790" type="General" weightage="20" keywordseo="zaakpay" source="keywords">Zaakpay</keyword> operates a B2B payment gateway for e-commerce businesses and has received RBI approval for its Payment Aggregator (PA) business. MobiKwik provides consumers access to various payment options and financial products in digital credit, investments, and insurance has acquired approximately 18.29 million new users every year, between Fiscal 2021 and September 30, 2023. As of September 30, 2023, the company has amassed 146.94 million registered users and enabled 3.81 million merchants to conduct online and offline payments. Its Payment GMV has grown annually by 32.33%, while MobiKwik ZIP GMV (Disbursements) surged by 354.86% from Fiscal 2021 to Fiscal 2023. As per RedSeer, the company's commitment to growth through cost-effective, technology-driven innovations is evident in its array of scaled products and its ability to maintain one of the lowest employee cost-to-revenue ratios among digital financial service platforms in Fiscal 2023. SBI Capital Markets and DAM Capital Advisors are the book-running lead managers for the IPO, and Link Intime India Private is the registrar of the offer. The equity shares are proposed to be listed on the BSE and NSE.

Mobikwik replans market debut with plans of raising ₹700 crore

pay at the fuel stations and pay for purchases through EDC machine (card swiping machine) payment terminal. ATM cards have made withdrawing money and paying from our accounts a highly convenient, easy and handy process. One big advantage of an ATM card is that you can withdraw money from any bank’s ATM outlet even if you have your account with a particular bank. When you open a new bank account and request for a new ATM card, you will get one delivered to your address by courier services. You need to activate the new ATM card to be able to use it for withdrawing money or paying for purchases. If you are a <keyword id="13222" type="CITY" weightage="20" keywordseo="SBI">SBI</keyword> customer, you can activate your new ATM card online on the internet banking portal. Hence you need not face the hassles of visiting the bank’s branch only for activating the ATM card. Steps to activate your new ATM card on the SBI online portal for retail customers without visiting the branch <ul><li>Visit the bank’s website www.onlinesbi.com</li><li>If you have already registered for net banking services, you will have the login credentials like username and password. If you do not have them, you need to apply for the same and get them first to be able to use the bank’s services online. </li><li>Login to the SBI net banking portal by inputting the username and password details you have.</li><li>Select the menu 'e-Services. You will find a drop down menu popping down. In the list of services you find, click on 'ATM card services' option.</li><li>This will lead you to a new page. Now you need to click on 'New ATM Card Activation'.</li><li>You will land on the next page. From the list of accounts you have, choose the account for which you have received the new ATM. Enter the 16 digit ATM card number in the relevant columns as asked. </li><li>The next column will ask you to reenter the same number to confirm. Once it is done, you need to click on the 'Activate' option.</li><li>The next page will display all the necessary details about your new ATM card. Once you find them correct, you can click on the ‘Confirm' option. </li><li>You will get a high-security password sent to your registered mobile number. You have to enter this password in the relevant column and then click on the 'confirm' option.</li><li>You will see a message on the screen saying, 'ATM card has been activated successfully!'.</li><li>Now you have successfully activated your new ATM card and it is now ready for use at the ATM machines and card swiping machines (EDC machine). </li><li>However, to pay using your ATM card, you will need an ATM PIN number. You can generate it by visiting the nearest ATM. The other ways to generate the ATM PIN are through the SMS method, IVR method or visiting the SBI branch in which you have your account.</li></ul>See Also - <a href="https://www.businessinsider.in/steps-to-check-account-balance-in-sbi/articleshow/69607243.cms">How to check account balance of SBI</a> <a href="https://www.businessinsider.in/how-to-recover-deleted-google-activity-on-android/articleshow/71289926.cms">How to recover deleted google activity on android</a> <a href="https://www.businessinsider.in/how-to-check-laptop-configuration/articleshow/69914646.cms">How to check your Laptop model and configuration</a>

How to activate SBI debit card (ATM card) for online transaction

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">BrookfieldA rendering of the Manhattan West development.</div></div></div>New York is making a real play for <a href="http://markets.businessinsider.com/stock/AMZN-Quote">Amazon</a>.The city's Economic Development Corporation said on Wednesday that it had received proposals from 23 different neighborhoods who are eager to host Amazon. "No other city in North America has the space, the ingenuity, or the energy that we can offer Amazon," Deputy Mayor Alicia Glen <a href="https://www.nycedc.com/press-release/new-york-city-receives-more-two-dozen-proposals-new-amazon-hq-totaling-over-50-million">said in a statement</a>.On Septemer 15, NYC's EDC solicited submissions for places around the city where Amazon could call home. It will now go through the submissions and choose one to send to Amazon when bids are due on October 19.One of the contenders is likely the Industry City complex in Brooklyn, which is set to expand its space with its sights set on Amazon, <a href="https://therealdeal.com/2017/09/27/industry-city-owners-apply-for-rezoning-with-amazon-in-its-sights/">the development's CEO, Andrew Kimball, told The Real Deal</a>.Amazon is currently <a href="http://www.businessinsider.com/amazon-headquarters-cities-in-a-bidding-war-2017-9">searching for the site</a> of its second headquarters, which the company has promised will be as big as its current home in Seattle. Amazon said it would invest $5 billion in the construction of its new headquarters, and it hopes to eventually house 50,000 staff members there.Nearly every city in the US and Canada that qualifies <a href="http://www.businessinsider.com/amazon-headquarters-cities-in-a-bidding-war-2017-9">has said</a> it has made or is considering making a bid. New York officials <a href="http://www.businessinsider.com/new-york-city-wants-amazon-2017-9">have said</a> that in lieu of offering financial incentives, they plan to leverage the city's desirability in a push to appeal to Amazon. The ecommerce giant also <a href="http://www.businessinsider.com/amazon-hiring-2000-people-for-new-nyc-office-2017-9">just announced plans</a> to open a new office in the Manhattan West megadevelopment. The company is leasing 360,000 square feet there, with space for its advertising, Amazon Fashion, and Amazon Web Services teams.The company also recently announced it would build its <a href="http://www.businessinsider.com/amazon-building-fulfillment-center-new-york-city-2017-9">first</a> <a href="http://www.businessinsider.com/amazon-warehouse-locations-in-us-2017-9">fulfillment center</a> in the city, in Staten Island, where it would hire 2,250 employees. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/bodega-startup-ex-google-mocked-twitter-corner-store-backlash-2017-9">Ex-Google employees created a vending machine to replace corner stores - and the idea is being mocked all over Twitter</a></h3> <div> </div> </div>

Amazon's $5 billion headquarters battle has neighborhoods across New York all fired up

<keyword id="48346" type="TECHNOLOGY" weightage="100" keywordseo="Mobile-banking">Mobile banking</keyword> has never been as popular in India and <a href="http://www.businessinsider.in/ICICI-Bank-Caps-Free-ATM-Transactions-To-Five-A-Month/articleshow/45436012.cms">ICICI</a> has emerged the undisputed leader, according to July records. With the maximum number of transactions worth over Rs 6,800 crores and a record 53.2 lakh transactions, it not only leads among private sector banks, it is twice the next bank in the list.
 

	So what are the reasons that drove this success for the <a href="http://www.businessinsider.in/NRI-Investors-Sue-ICICI/articleshow/44972136.cms">21 year old bank</a>? Let’s take you through the journey from its entry into the space to becoming the leader, introducing some of the ‘firsts’ in the space too.
 

	Most important mission
 

	<keyword id="4871617" type="UNKNOWN" weightage="100" keywordseo="iMobile">iMobile</keyword>- The iMobile app of <a href="http://www.businessinsider.in/ICICI-Bank-considers-selling-its-home-finance-arm-for-Rs-4400-crore/articleshow/48016710.cms">ICICI Bank </a>is one of the key drivers for the high value growth in the mobile banking space. 

	 
	 
	 

	According to RBI data, the bank has recorded transactions nearly worth Rs 16,000 crores, in fiscal 2015.
 “As the only bank with a dedicated mobile payments gateway, <keyword id="6653" type="CITY" weightage="100" keywordseo="ICICI-bank">ICICI bank</keyword> has the highest success rate in a mobile banking transaction in the country,” said <keyword id="128186" type="PERSON" weightage="100" keywordseo="Rajiv-Sabharwal">Rajiv Sabharwal</keyword>, Executive Director, <keyword id="42456" type="CITY" weightage="100" keywordseo="ICICI">ICICI</keyword> Bank. 

	The unique payment gateway has allowed the bank to customize the app based on transactional needs. Clearly, the technological investment in upgrading the app has paid off as shopping and merchandise has recorded 700% growth in Q1 alone, when compared against last year. 
 

	Currently, there are nearly 125 services on the mobile banking app.
 

	Prepaid Mobile Recharge and Shopping are the key features of the app that is bringing traffic to it. 
 

	Some of the other features that have been added to iMobile include Forex, buying mutual funds on mobile for wealth customers, adding payee through iMobile for fund transfers 24x7 and personalized pre-qualified loan offers to customers on the platform.
 

	“Our internet plus mobile transactions are 60% of our transactions. Further, over 50% of our transactions on mobile are happening beyond the top 20 cities, which mean that our ability to reach out to customers in a much wider geography is significantly better and it is also flowing from the fact that we have comprehensive services. So, we have not only looked at bigger markets, but also customers in the smaller markets,” added Sabharwal.
 

	The bank has a plan to grow mobile banking transactions to Rs 80,000 crore by end of this fiscal.
 

	First mission
 

	<keyword id="6462705" type="UNKNOWN" weightage="100" keywordseo="pockets">Pockets</keyword>- ICICI Bank introduced India’s first digital bank, Pockets. The digital wallet of Pockets, has over 2.5 million downloads, of which 70% are non-ICICI Bank customers. 
	 
	
 

	First in the world
 

	<keyword id="2987301" type="UNKNOWN" weightage="100" keywordseo="mVisa">mVisa</keyword>- ICICI Bank not only leads the space in India, it has pioneered some world first too. For the first time in the world, ICICI Bank launched a new service for Pockets users, mVisa, a mobile payment solution for consumers and merchants. With this service, users of Pockets can make cashless payments from their smart phones using their debit card by simply scanning a mVisa Quick Response (QR) code at a merchant location without swiping the card at an EDC machine. 
 

	“The <a href="http://www.businessinsider.in/Now-use-your-voice-to-operate-your-ICICI-Bank-account/articleshow/47418147.cms">simplicity of this technology</a> will allow us to address the market gap and enable digital payments for an array of untapped categories such as home deliveries, cab services, and small merchants. We believe these innovative and convenient services will drive more customers to use mobile banking. In fact, already we are seeing that more customers adopt mobile banking than internet banking every month” added Sabharwal.

	 
	 
	 
	(Image credits: Indiatimes, play.google, Twitter, youtube)

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Mobikwik replans market debut with plans of raising ₹700 crore

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How to activate SBI debit card (ATM card) for online transaction

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Amazon's $5 billion headquarters battle has neighborhoods across New York all fired up

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