Xiaomi Mi Wi-Fi Repeater 2, Mi Bluetooth Speaker Mini, Mi Power Bank 2 Launched in India

Xiaomi India has launched a range of accessories in India expanding its portfolio further. The newly introduced Mi Wi-Fi Repeater 2, Mi Bluetooth Speaker Mini, 10000mAh Mi Power Bank 2, and 20000mAh Mi Power Bank 2 are all going to be available via Mi.com online store and Mi Home, Xiaomi’s newly launched offline store. Prices for new Xiaomi accessories start at Rs. 999. Read more for details.

Xiaomi Mi Wi-Fi Repeater 2 price, features
Xiaomi has launched the Mi Wi-Fi Repeater 2 that essentially is a neat tool to pull Wi-Fi to those corners of your house where the signal is weak. It enables you to expand your home Wi-Fi coverage without buying a new router, and delivers connections for up to 16 devices. Xiaomi says the Mi Wi-Fi Repeater 2 is compatible with most popular router brands, and comes with two built-in high performance PCB antennas to expand router signal range and boost download speeds. The Mi Wi-Fi Repeater 2 will be available exclusively via Mi.com and Mi Home from June 20 onwards at Rs. 999.

Mi Bluetooth Speaker Mini price, features
The new Xiaomi Mi Bluetooth Speaker Mini is a small speaker that weighs just 58 grams and has a full metal casing. The tiny speaker’s dimensions are at 52x52x25mm and it supports Bluetooth v4.0, and a Micro USB charging port. The circular shaped speaker has a built-in microphone with nose reduction technology, and it comes with a lanyard hole to make it easy to carry it around. The tiny Mi Bluetooth Speaker Mini will be available in Grey and Gold colour variants via Mi.com and Mi Home from June 21 at Rs. 1,299.

Xiaomi Mi Wi-Fi Repeater 2, Mi Bluetooth Speaker Mini, Mi Power Bank 2 Launched in India

10000mAh Mi Power Bank 2 price, features
The 10000mAh Mi Power Bank 2 has also been introduced, and it comes with two-way fast charging, and high-density batteries. This 14.1mm thin device easily slips into your pocket, and Xiaomi says the Mi Power Bank 2 comes with nine layers of circuit chip protection including temperature protection, input/ output overvoltage protection, hardware-level short circuit protection, and output over-current protection. The 10000mAh Mi Power Bank 2 will be available in Black from June 20 via Mi.com and Mi Home, at Rs. 1,199. It will also be available via Amazon India and Flipkart from July 7.

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20000mAh Mi Power Bank 2 price, features
This power bank has dual USB outputs, two-way fast charging, weighs 330.5 grams, and is portable with dimensions at 135.5×67.6×23.9mm, and at 20000mAh comes with double the capacity. The nine layer circuit protection is also available on 20000mAh Mi Power Bank 2, and it will be available in black from June 20 via Mi.com and Mi Home. It, too, will also be available via Amazon and Flipkart from July 7.

 

BANK FAIL Lloyds Bank suffers online banking glitch leaving customers locked out of accounts

LLOYDS Bank customers have complained of being shut out of their online accounts for more than two hours, as the bank suffers a technical glitch.

The bank has confirmed that its online site is down, although there is a workaround in place and its mobile and tablet apps are working as normal.

Customers have taken to social media to ask the bank what’s going on, with one saying: “Your site has been down for nearly 2 hours now – what are your IT guys doing?”

Lloyds confirmed that its online site is down, although its mobile and tablet apps are working as normal

Another tweeted: “Lloyds Bank website goes down as I’m trying to pay 3 rather large builders for their work.”

Lloyds Bank told The Sun Online: “We are currently experiencing some problems and as a result, some Lloyds Banking Group websites are temporarily unavailable.

“We are working to resolve the issue as quickly as possible, and apologise for any inconvenience caused.”

This week in banking: Focus on 12 large NPA accounts; Au Small finance bank launches IPO

The banking sector this week was shadowed largely with the bankers doing marathon meetings to decide on the 12 large corporate bad loan accounts identified by the Reserve Bank of India to be taken to the National Company Law Tribunal under the Insolvency and Bankruptcy Code.

The 12 defaulted borrowers include steel and infrastructure companies such as Lanco Infratech, Bhushan Steel, Bhushan Power and Steel, Essar Steel, Electrosteels Steel and Alok Industries among others.

Joint Lenders’ Forum led by banks including State Bank of India, Punjab National Bank and IDBI bank, for each corporate account met in a series of meetings and formally approved taking the company’s resolution process through the corporate insolvency route.

The week started with bankers kickstarting the process to finalise the decision to refer the stressed cases to the NCLT within a month’s time. Lanco Infratech was the first to officially announce its decision to be taken to NCLT by IDBI Bank led bankers.

Other cases discussed during the week were Jyoti Structures, Alok Industries, Essar, Bhushan Steel, Bhushan Power and Steel and Electrosteel Steels.

On Friday, Punjab National Bank approved taking Bhushan Power and Steel to be referred to NCLT, while Bhushan Steel informed the stock exchanges that SBI would officially be referred under the insolvency code.

During the week, the banking regulator also expanded the scope of the overseeing committee (OC) by adding three more members from the existing two to a total of five members headed by former Central Vigilance Commissioner Pradeep Kumar. The new members will come on board with effect from September 7, 2017.

This week in banking: Focus on 12 large NPA accounts; Au Small finance bank launches IPO

It also expanded the scope of the OC beyond the S4A – scheme for sustainable structuring of stressed assets – to all assets above Rs 500 crore.

GST

Also, with the Goods and Services Council extending the deadline for companies to file taxes by two months will provide a much needed breather to banks for setting its IT infrastructure and processes in place as the GST is set to be launched on July 1

On GST, RBI Governor Urjit Patel, at a panel discussion at a banking and financial services event, said that GST will reduce inefficiencies within states and broaden the tax base, making it an important part of the digital revolution.

The central bank chief sounded more optimistic on the job sector in the IT sector. According to him, despite pressure in the IT (information technology) sector, start-ups are creating more jobs. The pessimism regarding job losses is a judgement too soon and that he has not heard of any major job destruction while talking to corporates. Further, he said that India’s fintech industry has almost tripled its size since 2013 and the value of transactions has touched USD 30 billion already. Here, Patel also asked to maintain caution of the space that the world is yet to recover even from the 2008-09 global financial crisis.

He also said that unequivocally, India’s position should be for an open trading system despite sentiments with some of the other countries changing and that is the right position to take. India has believed in a multilateral trading system and must continue to force ourselves into that, Patel said, adding that India must continue doing so despite changes in other countries, alluding to the protectionist policies by the US and UK.

In another market news, Au Small finance bank decided to come out with its IPO (initial public offering) whose issue will open from June 28-30. The bank’s CEO Sanjay Agarwal said in an interview that the bank plans to raise Rs 1,912 crore through the public.

Demonetisation demon is still haunting the cash logistic firms as the banks are yet to pay them dues worth Rs 93 crore. Cash logistic firms are involved in the recalibration and replenishment of ATMs.

At the peak of demonetisation, when supply of replacement currency at ATMs was running low, an army of 50,000 people in 9,800 odd vans had worked around the clock to recalibrate and fill up the depleting cash machines. Sources told Moneycontrol that the logistics companies are owed a sum of Rs 93 crore by banks, only some of whom have paid up.

Federal Bank Launches Rs. 2,000 Crore Share Sale To Institutions

Mumbai: Private sector lender Federal Bank Ltd has launched a share sale to raise Rs. 2,000 crore, with an option to increase the amount by Rs. 500 crore, according to a deal term sheet.

Federal Bank said in a regulatory filing on Wednesday it had launched a so-called qualified institutions placement of shares but did not give details.

Federal Bank Launches Rs 2,000 Crore Share Sale To Institutions

The bank is selling new shares in a price range of Rs. 111.50 to 116.70, equivalent to a 4.5 percent discount to the stock’s close on Wednesday at the bottom of the range.

Citi, Deutsche Bank, IIFL Holdings and Kotak Mahindra Capital are the banks on the deal.

 

Paying via Apple, Samsung phones? More banks are ready to serve you

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Apple and Samsung have both picked up new bank partners in their battle to be your go-to for mobile payments.

Apple on Tuesday updated its Apple Pay page for participating banks and store cards to show an additional 66 banks, credit unions and other financial institutions in the US. That means the credit cards offered by those organizations can now be used for Apple Pay payments through an iPhone 6 or higher or an Apple Watch.

Samsung also announced that its Samsung Pay service has added 19 new credit card issuers, including PNC Bank and KeyBank, as well as several credit unions.

Apple Pay, launched in the US in October 2014, has about a year’s headstart over Samsung Pay, whichhit the US this past September. In the US, Apple Pay supports all the major credit cards through more than 850 card issuers, while Samsung Pay supports American Express, MasterCard and Visa cards from around 32 issuers.

Apple and Samsung aren’t alone in trying to turn your smartphone into a convenient way to pay for goods at the cash register. Google has its own mobile payments system called Android Pay and retailers themselves are getting into the game. Walmart, for instance, last week launched a payments app that works on both iPhones and Android devices.

For all their efforts, however, consumers haven’t been convinced that a phone is a more convenient way to pay for things than cash or a credit card. That could change as more banks partner with the services to make them more useful. Worldwide mobile payments are predicted to reach $1 trillion in value by 2017, more than double 2015’s estimated total, researcher IDC said in August.

Though Apple Pay leads the list in credit card issuers, Samsung Pay enjoys a technical advantage among retailers. Samsung’s payment system doesn’t require the same NFC (near-field communications) technology needed by Apple Pay and can work with any magnetic-strip card reader, making for greater appeal to merchants, who don’t have to upgrade their equipment. NFC is a mobile technology that lets a smartphone handle payments where retailers have the right gear in place.

Apple also leads overseas. Apple Pay is supported in the US and the UK through different banks and in Australia and Canada through American Express. Apple plans to push its payment service to Hong Kong, Singapore and Spain next year. Samsung Pay is currently available in the US and South Korea. Samsung plans to expand it to the UK, Spain and China.

Apple Pay works with the iPhone 6, 6 Plus, 6S and 6S Plus as well as the Apple Watch to pay for items at physical retailers. The service also works with the iPad Pro, iPad Air 2, iPad Mini 4 and iPad Mini 3 for in-app purchases. Samsung Pay supports the Galaxy S6, S6 Edge, S6 Edge Plus, S6 Active and the Galaxy Note 5.