May 27, 2016 - Panel set up to look into rising NPAs of power PSUs

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Sree Vijaykumar From the Editor's Desk So it's Friday and here are some of the most popular stories from taggit this week. The first one is about the relationship between Bill Gates and Steve Jobs, including the fact that Steve had a letter from Bill by his bedside in his last moments. Second, this list of the most stupid questions googled by people in each state in the US will bring a smile to your face. Finally, this speech by Raghuram Rajan on how India can create a billion entrepreneurs has insights on how regulation encourages informality in business and how access to finance is even more important than the cost of finance. Keep reading taggit to find fresh share-worthy stories! Panel set up to look into rising NPAs of power PSUs A senior PFC executive said the companys gross NPAs stood at Rs 7,519 crore of the total loan assets of Rs 238,920 crore as on March 31 this year. Defaults are costly: Bankruptcy law gives lenders more teeth A few weeks ago, the government passed the Bankruptcy Bill, introducing a time-bound settlement process against loan default. RBI keeps a watch, demands P2P lending only via bank accounts While P2P lenders in India are currently unregulated, the RBI recently issued a consultation paper on rules for the sector and sought suggestions on this. If Exxon-ENI deal goes through, BPCL may get a stock re-rating The Mozambique field has two areas. Area 1 is the field in which BPCL holds 10%, operator for which is Anadarko, and Area 4 is operated by ENI. Tata Steel shares exhaust their upside, sale of its UK assets likely to be short-term trigger Despite an estimate-busting March quarter numbers and a positive management outlook for the current fiscal, the stock closed a measly 0.2% higher from its previous close. JSW Group: the compulsive bidder? Despite a debt of Rs35,171.26 crore, JSW Group has shown interest in Tata Steel’s UK assets—perhaps to gauge the steel market in Europe Banks still dragging their feet on Gold Monetisation Scheme In the earlier gold deposit scheme, the government mint took 180 days to settle their refining account but with 0.5% interest payout at that time. Demat accounts increased over years but operations have fallen Data from Central Depository Services India (CDSL) showed an uptick in the number of demat accounts in all financial years from 2010-11 to 2015-16. Government asks LIC to contribute 10% to NIIF The govt says it would invest half the corpus (Rs20,000 crore) and seek participation from sovereign wealth funds and pension funds to raise the rest Little Black Book raises $1.2 million from IDG Ventures India and IAN Iluminar Media, which owns and operates curated online city and lifestyle guide Little Black Book, has closed a $1.2 million (about Rs 8 crore) round of funding. Five Things That Are Wrong With Indian Banks, According To The Reserve Bank The quality of service offered by Indian banks to its customers is rather lackadaisical. This is the inference you can draw from a recent speech by the deputy governor of the country's central bank, t Axis Bank, 8 others to list additional shares on exchanges Cholamandalam, Indiabulls, Radha Madhav Corporation, TVS Electronics and Allahabad Bank are the other entities which have listed more shares on NSE RBI Instructs Banks to shift to chip based models of cards to reduce theft The Reserve Bank of India has instructed banks to shift from magnetic stripe based ATM and debit cards to EMV chip and Pin based model of cards. Snapchat raises $1.81 billion in new funding round Messaging app Snapchat raises funds indicating strong investor interest in the company Yes Bank says approval to hike foreign investment will enhance its financial flexibility Yes Bank said it has become the first bank in India to receive such an approval for a fully fungible composite foreign investment limit of 74 per cent. SoftBank president Nikesh Arora receives pay package of $73 million Nikesh Arora’s compensation includes 1.56 billion yen paid by other Softbank units Economy's green shoots yet to strike roots: Private investment still frozen Global economy still in the woods. External demand which absorbed 50% of incremental manufacturing output, virtually absent. Ashok Leyland’s fund-raising plans irk investors Strong volumes, a favourable product mix and economies of scale should have led to a disproportionate improvement in margins Union Bank of India launches product to facilitate stamp duty and registration on property purchases The facility, makes it possible to do the necessary paper work and formalities on line and get the endorsement of the final document at the branch level at one go. IndusInd Bank out, Bank Of India to now settle tea e-auctions The Tea Board has selected Bank of India as the new settlement bank for pan-India e-auction from sale number 25, which falls on the third week of next month. Snapdeal, Puravankara Projects tie up to sell homes online The three-way partnership will enable Snapdeal customers to purchase ready-to-move apartments from Puravankara across Bengaluru, Chennai, Coimbatore and Kochi. Flipkart tweaks discount strategy for sale Brands have passed on inventory just for the sale period at a lower price to sellers at Flipkart and they have also agreed on a lower margin to bring down prices. Allow multi-brand food retail stores to sell soaps, shampoos: Harsimrat Kaur Badal She also plans to create an empowered body similar to the National Highways Authority of India to ensure continuity and better execution. Snapdeal plans to scale down operations in regional offices Snapdeal may even shut down a few offices in the next six months, if it doesn't raise a fresh funding round, the sources said. Amazon sets the pace for e-commerce in India Flipkart and Snapdeal take a cue from Amazon even as they differ on who is ahead in the race Reliance launches cheapest ever VoLTE smartphone LYf Flame 3 at Rs 3999 Reliance LYF Flame 3 is an entry level 4G smartphone with 512MB RAM and 4GB internal storage Ecommerce: Where are the jobs? Hindustan Times So, is e-commerce only about entrepreneurs? The answer is no. E-commerce sites are among the top job creators in India at present. Starting from top business school and technology institutes to tier-2 and tier-3 colleges, e-commerce recruiters are ... Flipkart's 'Big Shopping Days' sale sees slow start. Will banning of discounts by DIPP hurt? Flipkart is running a three-day ‘Big Shopping Days’ sale which seem to have taken off without much ado. As buyers go online, Arvind, Tata jump on e-com bandwagon MUMBAI: Sanjay Lalbhai-promoted Arvind Ltd, which already runs a fashion retail business spanning over 1,200 outlets and 35 brands, is now betting on a big online push to further accelerate growth. It joins a growing list of brick and mortar retailers ...sp; TRAI's Final Attempt at Shaping Net Neutrality in India Begins This Week The consultation process for an overarching framework is being done in two phases this time, in order to be more comprehensive, but will also likely require greater focus and attention from the supporters of net neutrality. Intel India unveils three new initiatives to support Digital India Intel India on Thursday announced three innovative initiatives to strengthen its support for Prime Minister Narendra Modi's Digital India programme. Setting up data centers in India shouldn't be mandatory ; Amitabh Kant, CEO Niti Ayog Niti Aayog CEO Amitabh Kant has said that the "Decision to set up data centers in the country (India) cannot be mandatory and it will be not be conducive for the eco-system." Kant said, while releasing the IAMAI's Make In India report on incentivizing data center infrastructure in Telecom equipment accounts for 12% of e-waste in India The rising levels of e-waste generation in India has been a matter of extreme concern in recent years, a joint study by Assocham-KPMG said. Jio Effect – Will India be amongst first countries to shutdown 3G network? The Indian telecom market is abuzz with talk about the 4G network. The excitement has been fueled by the impending launch of Reliance Jio – billed as the la.. Airtel Completes Deal to Acquire Videocon Telecom's Spectrum in 6 Circles Bharti Airtel and Videcon Telecommunications on Tuesday announced that they have concluded the spectrum purchase deal in six circles for Rs 4,428 crore, Freecharge CEO Govind Rajan eyes 7 million daily transactions Rajan joined Snapdeal in July last year, as its chief strategy officer, but was almost immediately tasked with running the day-to-day operations of Freecharge. Joining delay: Amazon, Paytm keen on hiring graduates who got offers from Flipkart The students who got offers from Flipkart are looking for other options as most don't want to wait until December, said placement sources at the B-schools. After Flipkart, two other online portals Car-Dekho and Hopscotch postpone joining dates of students recruited from IIM Bangalore Professor Ganesh Prabhu, Chairperson, Career Development, IIM Bangalore says it is not unusual for companies to delay the joining dates, but this time the move was sudden with students caught unawares. Why the spate of recent high-profile exits from e-commerce companies doesn't matter Due to a timely confluence of factors (domestic and international), e-commerce in India had come of age. There were at least a couple of players that suddenly Online insurance platform Coverfox.com partners with The Oriental Insurance Company Oriental Insurance has now decided to enter the online broker/aggregator distribution with partnerships with insurance technology start-ups like Coverfox.com Snapdeal drops contentious clause in sellers' contract The provision had authorised it to “discover and display” prices payable by the buyer based on “competitive pricing prevalent in the market.” TradeBriefs Publications are read by over 10,00,000 Industry Executives India Business Brief | India Retail News | India Food Brief | India Telecom Brief | India Finance Brief | India Software Brief | India Digital Brief | India Ecommerce Brief | India Franchise Brief | India HR Brief | India Logistics Brief | India Construction Brief About Us  |  Advertise Privacy Policy    Unsubscribe You are receiving this mail because of your subscription with TradeBriefs. 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May 26, 2016 - New private banks like Kotak Mahindra Bank, Yes Bank whizz past PSBs in performance

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Sree Vijaykumar From the Editor's Desk So what does an AI-first world look like for Google? Example 1: You might ask Google, what's playing tonight. Today, through voice recognition and natural language processing, Google understands that you're probably talking about movies. You can imagine going a step further. If I'm asking it on a Friday, to have the context that maybe I want to watch with my family, and give me three movies I might like. I might then say, "Is Jungle Book any good?" Then I might ask it to pick up tickets. Then the next day, I might pick up the phone and Google says, it's a few hours before the movies and your tickets are here. Example 2: One of the internal teams, just six or seven engineers, has applied machine learning algorithms to the detection of diabetic retinopathy, a medical condition that is treatable when caught early but can lead to blindness when it is not. Using tools based on machine learning, doctors can diagnose it much much better Example 3: Increasingly, you'll be going about your daily life and the Google assistant will pop up to help. Mother's Day is a week away? Google may suggest you get on with your shopping. Full story here New private banks like Kotak Mahindra Bank, Yes Bank whizz past PSBs in performance New-age lenders such as Kotak Mahindra Bank, Yes Bank and IndusInd Bank have rewarded their shareholders handsomely. With policies like Bankruptcy Bill, Indradhanush plan in place, PSU banks to see growth soon Under the Bankruptcy Act, resolution is time-bound (within 270 days) unlike the current scenario where it takes five to eight years for a case to arrive at a logical conclusion. Three revolutions, and what they mean for Modi and markets If one examines Modi govts two-year track record at the micro-level, one could come away feeling disheartened. Corporate earnings growth is still sluggish. Sturdy rupee may wilt less in a US Fed rate hike storm The rupee has weathered storms better than most other emerging market currencies in the last two years, and is relatively well placed in the event of a US rate hike. Signs of achhe din? Interest costs fall for India Inc Aggregate interest outgo of 252 companies from the BSE500 index, which have declared results so far, fell to 16.64% in FY15-16 from 17.33% in the previous year. In Modi government's two years, Indian bonds emerge as best-performing asset class by a wide margin Softening interest rates have clearly benefited bonds, even as a sharp rally in stocks that took the Sensex to a life-high of 30,000 in March dissipated. IL FS Financial looking to raise $200 mn via masala bonds Masala bond financing is more expensive as currency risk is borne by investors, hence priced into the cost of funds Logistics start-ups seek new routes to deliver revenues Firms such as GoJavas, Shadowfax and Opinion aim tie-ups with banks, reverse logistics firms and manufacturers Chinese companies plan big investment across sectors in India The President said that India's primary goal is to build a modern economy that puts a premium on sustainable development Union Bank of India launches product to facilitate stamp duty and registration on property purchases The facility, makes it possible to do the necessary paper work and formalities on line and get the endorsement of the final document at the branch level at one go. Nalco to buy back its shares in bid to help centre raise funds Nalco has fixed the buy back price at `44 per share and now awaits the approval from public shareholders who hold 19.07% stake in the company Startups founded by women get $33 million less venture capital money than men US companies founded by women pulled in an average of $77 million compared with $100 million raised by men Developers and home buyers in favour of smaller houses Smaller units are more affordable for buyers, which, in turn, helps builders give a boost to sale volumes Reliance, BP said to seek withdrawal from India gas arbitration Reliance, BP and Niko Resources, are preparing to withdraw from arbitration proceedings against PM Narendra Modi’s government by December Sebi to reduce the number of listed firms UK Sinha says Sebi will also finalize regulations on high frequency trades before the end of the year No decision on Raghuram Rajan’s second term for now The NDA govt signals its intent in response to an intense lobbying exercise, for and against the reappointment of Rajan, over the last few weeks Banks still resisting rate cuts as liquidity row with RBI drags on RBI has slashed rates by 150 bps since the start of last year, bringing the policy rate to 6.50%, but the country's banks have cut lending rates by less than half that. Stressed assets higher than net worth for one in three govt banks In the last six months, 22 PSU banks reported losses of Rs30,700 crore. They also wiped off 16.4% of their net worth Will new India-Mauritius tax treaty turn India into a fund management hub? The Mauritius pact is likely to provide the much-needed push for fund managers to relocate to India Apple vs single-brand retail policy: DIPP officials defend local sourcing clause The finance ministry cleared the US companys proposal to set up Apple Stores under the single-brand policy but without any relaxation in the mandatory 30% local sourcing. Consumers now turn to 'healthier' bread alternatives “On an average, of the number of breads we sell, 50% is white bread, 35% is wheat and the rest 15% is multigrain,” said Mukesh Singh, founder of ZopNow. Snapdeal drops contentious clause in sellers' contract The provision had authorised it to “discover and display” prices payable by the buyer based on “competitive pricing prevalent in the market.” Aditya Birla Fashion and Retail to acquire Forever 21 India business Currently, a joint venture between DLF Brands and the US company operate 10 brick-and-mortar and the company sells online through fashion portal Myntra. Global packaging market revenue to reach $ 1 trillion by 2021 Internet of Things, nano technology, biotechnology, bio-based plastics, etc are propelling the growth of global packaging market, says a report from DecisionDatabases Apple gets FIPB nod for retail stores, but must meet 30% local sourcing norms Tech giant allowed to set up fully owned shops, with 30% local sourcing like everyone else Amazon to expand e-grocery biz, take on Grofers, BigBasket Now was in the pilot phase and was called Kirana Now for a year. Amazon tied up with neighbourhood grocers and listed the products and the shops on its platform, and delivered orders within two hours in Bangalore's neighbourhood. In March, it formally ... Taxing times for ecommerce sector Forbes India (blog) Forbes India (blog)Importantly, the framework of the Indian constitution seeks to promote and protect free flow of trade across states and frowns upon any tax that disincentivises such movement. Despite this, the bandwagon of states that are choosing to tax ecommerce ... India's mobile gaming market: $214 million Indias mobile gaming market is worth $214 million, and is dominated by arcade*, puzzles and racing games. India fifth largest producer of e-waste in world: Study The rising levels of e-waste generation in India has been a matter of extreme concern in recent years, a joint study by Assocham-KPMG said. Consultation paper on internet telephony in a month: Trai There has been a debate in the industry over the framework for calls being made using the internet through various mobile applications. Microsoft to stop designing, making mobile phones: Report According to the report, the company had invited its Finland-based phone developers to a meeting in Espoo on Wednesday. Huawei sues Samsung over patent infringements Huawei Technologies Co Ltd said it has sued Samsung Electronics Co Ltd claiming infringement of smartphone patents, the Chinese firm's first intellectual property challenge against the world's top mobile maker.​ Samsung launching iris-recognition tablets in India South Korean electronics giant Samsung on Wednesday launched India's first iris recognition-powered 7-inch tablet that can be used for various authentication-related processes like e-KYC (Know Your Customer), e-Sign and other government services Nokia in Talks With Indian Telcos for 5G Network Trials Under Networks for Cloud Era, Nokia demonstrated how networks can benefit from virtualization and automation with less hardware and how all this impacts efficiency, quality, innovation and business opportunities Reliance Jio extends unlimited 4G preview program, may open its network for everyone The 4G operator may soon ditch the referral system for buying Reliance Jio 4G SIM. $214 million is the worth of India’s mobile gaming market Indias mobile gaming market is worth $214 million, and is dominated by arcade*, puzzles and racing games. Fallible plans to launch Chrome extension to detect data leaks “After you fix the issues identified, you just need to replay your last recorded process to verify if the issues discovered last time have been fixed or not.” Smartphone growth in US slowed by almost half in 2015, says report Days after the news that Apple sold fewer iPhones for the first time ever in the first quarter this year, a new report says that smartphones in the US posted half the growth in 2015 when compared to the previous year. Rising levels of e-waste generation in India ranks it fifth in the world, says study The rising levels of e-waste generation in India has been a matter of extreme concern in recent years, a joint study by Assocham-KPMG said. TradeBriefs Publications are read by over 10,00,000 Industry Executives India Business Brief | India Retail News | India Food Brief | India Telecom Brief | India Finance Brief | India Software Brief | India Digital Brief | India Ecommerce Brief | India Franchise Brief | India HR Brief | India Logistics Brief | India Construction Brief About Us  |  Advertise Privacy Policy    Unsubscribe You are receiving this mail because of your subscription with TradeBriefs. Our mailing address is GF 25/39, West Patel Nagar, New Delhi 110008, India