MAM
Digital Money 2.0: Seeing into the future
Payments Council of India – the apex body representing companies in the payments and settlement system in India, promotes the growth of the payments industry and supports the national goal of ‘Cash to Less Cash Society’ as well as ‘Growth of Financial Inclusion’ which is also the Vision Shared by the RBI and Government of India.
It’s been 10 great years, as celebrated in the last edition, & now, PCI is back with the 11th edition of its annual conference – ‘Digital Money’: Seeing into the future. This conference aims to demystify, discover & deliberate upon the evolving trends and emerging technologies disrupting the global financial system and worldwide transactions.
‘Digital Money’ attendees will hear from leading world experts and innovators about – UPI & the entry of global players as well as the key factors for its success, Cross border remittances, Prepaid payment instruments, Merchant acquiring in India, Role of data in the payments industry, Digital payments and the E-tailer and the Roadmap to 30 billion digital payments in India.
The conference, over the years, has been the largest annual gathering of digital payment players, enablers and supportive financial institutions in India which is focused on the multi-channel approach & other emerging trends instigating unified and seamless customer experience.
When: 9th October 2018 – 9:00 am
Where: Taj Lands End, Mumbai
The conference will be attended by 500+ attendees from 250+ companies in the Digital Payment Industry, along with 40+ industry stalwarts as speakers.
This year look forward to hear from a stellar list of Industry experts speak –
- Shri Ganesh Kumar, Executive Director, RBI
- Shri G Padmanabhan, Non-Executive Chairman, Bank of India
- Mr. Dilip Asbe, MD & CEO, NPCI
- Mr. Suresh Sethi, CEO, Indiapost Payments Bank
- Mr. Kiran Vasireddy, COO, Paytm
- Mr. Mahendra Nerurkar, GM- Payments, Amazon
- Mr. Vishwas Patel, Director, Infibeam Avenues & Chairman, PCI
- Mr. Sameer Nigam, Founder & CEO, PhonePe
- Mr. Loney Antony, Director, Hitachi Payments, & Co-chairman, PCI
Register today – Click here
Brands
Devyani International Ltd plans three-subsidiary merger to streamline operations
QSR operator moves to streamline structure and unlock operational synergies
Devyani International is tightening its corporate kitchen. The quick-service restaurant operator has approved a scheme to merge three subsidiaries—Sky Gate Hospitality, Blackvelvet Hospitality and Say Chefs Eatery—into the parent company in a bid to simplify its structure and sharpen operational efficiency.
The decision was cleared at a board meeting on March 10 and disclosed in a regulatory filing to the stock exchanges. The merger will take effect from April 1, 2025, subject to statutory approvals.
All three transferor companies are direct or indirect wholly owned subsidiaries, meaning no fresh shares will be issued and the shareholding pattern of Devyani International will remain unchanged once the scheme is completed.
The subsidiaries together operate more than 100 outlets—including dine-in restaurants and cloud kitchens, spread across over 40 cities such as Delhi NCR, Mumbai, Kolkata and Bengaluru.
Devyani International, the largest franchisee of Yum Brands in India, said the consolidation is aimed at generating operational synergies, optimising resource utilisation and reducing layers within the corporate structure.
Financially, the move brings together businesses of varying scale. As of March 31, 2025, Devyani International reported a net worth of Rs 10,381.02 million and turnover of Rs 33,493.33 million. Sky Gate Hospitality posted a net worth of Rs 761.14 million with turnover of Rs 2,657.57 million, while Blackvelvet Hospitality and Say Chefs Eatery reported smaller operations and negative net worth.
The merger will consolidate these operations under a single corporate umbrella as the company sharpens its focus on scale and efficiency.
Devyani International currently runs more than 2,000 outlets across over 280 cities in India, Nigeria, Nepal and Thailand. Its portfolio includes franchise rights for brands such as Pizza Hut, KFC, Costa Coffee, Tea Live, New York Fries and Sanook Kitchen, alongside its own food brands.
With the paperwork underway and approvals pending, Devyani is essentially clearing the corporate clutter—turning three subsidiaries into one tighter, leaner operation. In the QSR world, even the back office needs a spring clean.
