Telegram and Signal Benefit From Rising Instances of WhatsApp Security Breach, ICICI Bank Shuts Down Its Project Finance Division

Telegram and Signal benefit from WhatsApp's sorrow. ICICI Bank shuts down its project finance division.

 

CORPORATE HEADWINDS

 

Telegram and Signal benefit on the back of rising instances of WhatsApp security breaches.

Fall From Grace: As per recent data by San Francisco-headquartered app analytics firm App Annie, calling and messaging platforms such as Telegram and Signal have witnessed an increase in the number of downloads following repeated instances of security breaches by WhatsApp. 

 

Data from the firm showed that Signal skyrocketed to the 39th position, up from its 105th position just a week ago in the social networking app downloads category in India on the iOS app store on November 3. Similarly on Google Play, Signal climbed to the 31st position in the communications app downloads category in India on November 1, a jump from its 255th position a week ago.

 

Alas!: Meanwhile, WhatsApp Messenger dropped from the number one position to the fourth in the most downloaded apps in the communications category on Google Play over the past week trailing behind UC browser, Facebook Messenger and Truecalller.

 

Similarly on Google Play, Signal peaked at 31st position in the communications app downloads category in India on November 1, a jump from its 255th position a week ago. ET Tech

 

Telegram and Signal Benefit From Rising Instances of WhatsApp Security Breach, ICICI Bank Shuts Down Its Project Finance Division

 

ICICI Bank shuts down its project finance division.

Sorry We Are Shut: Following the lack of fresh demand for loans in the infrastructure sector, private lender, ICICI Bank disbanded its project finance division in September. 

 

While the bank is still open to lending opportunities in the sector, it has reallocated the specialised staff to its larger wholesale banking vertical that caters to clients across sectors.

 

Zooming Out: The ongoing slowdown in the Indian economy has led to lenders shifting their focus from large corporate borrowers to retail loans. Moneycontrol

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