KACHARAGADLA

India's status as a bright spot amid global uncertainty is not "overdone",  JPMorgan  Chairman  Jamie Dimon  told the  Economic Times  in an interview published on Monday. Citing the over-seven per cent growth, the deficit going down "quite a bit", and the government taking steps which would enable future growth, Dimon told the financial daily that India's prospects over the next 20-30 years were quite good. On impact on India's image under Modi government Dimon told the financial daily that India's image had changed in positive terms after Prime Minister Narendra Modi took charge. He added that India was the fastest growing country in the world today and that changes were being made.  Admitting that politics was "hard", Dimon described that Modi was nonetheless a "successful and strong leader". He also pointed out how foreign direct investments into the country had doubles in the last four-five years.

JPMorgan Chase & Co said on Monday it will soon launch its own competitor to Apple Pay that will allow consumers to pay retailers using their smartphones in stores, and it has already won the endorsement of a major group of merchants. The largest U.S. bank is the latest company to try to profit from the prevalence of smartphones, which many financial executives believe will one day be consumers' preferred way to pay for everything from milk and eggs at the supermarket to a rental car at an airport. The companies that figure out how to convince consumers to stop pulling credit cards out of their wallets and start paying with their phones stand to earn vast sums by taking a percentage of the trillions of dollars that consumers spend annually. No clear front-runner has emerged in the business yet. Chase believes its smart phone application, known as Chase Pay, has one key advantage: the caliber of retailers it has brought on board, Gordon Smith, chief executive of the bank