gsn july edition

8
“If you are not taking care of your customer, your competitor will.” - Bob Hooe New Delhi : The Government will provide a roadmap for ending corporate tax exemptions in the next 45 days, Revenue Secretary Shaktikanta Das said here , as part of a plan to lower the tax rate to 25 % in four years. Finance Minister Arun Jaitley, while presenting his annual Budget in February, had announced that the Government would gradually pare corporate tax by 5 per cent during the next four years from 30 per cent and roll back various tax exemptions. New Delhi : Reiterating his government's resolve to not allowing the 'digital divide' to become a barrier between people, Prime Minister Narendra Modi launched the Digital India Week here during inauguration of digital India week, he exhorted the youth to not only use technology for the country's benefit, but also serve the world by building cyber-security solutions. He urged industry captains, who were present in huge numbers, to boost production of electronics devices and goods in the country as part of the “Make in India” initiative, leading to corporate pledging Rs. 4.50 lakh crore for the Digital India initiative. Drawing attention to global worries on cyber-security, Modi said digitization will mean a lot of data usage stored in servers or cloud. For that the country has to meet the challenge posed by the threat of the 'bloodless war', he added. Clouds of a bloodless war are hovering over the world. The world is terrified by this....India has a big role to play in this,” he said, adding that India should accept the challenge to provide a shield to the world. Modi, who launched the 'Digital India' logo and released policy documents related to the initiative, said his vision of e-governance and mobile governance was when all important government services will be available on a mobile phone. “I dream of a Digital India where ; 1.2 billion connected Indians drive innovation; technology ensures that the citizen-government interface is incorruptible,” he said, adding that “so many coal mines were auctioned but there is no allegation against the government because it was all done in a transparent manner (online).” Similarly, the Digital India initiative was aimed at improving the lives of the common man. “India may have missed the Industrial Revolution, but will not miss the IT revolution,” he said. Assuring full support to young entrepreneurs who wished to launch start-ups, Modi called upon the youth to innovate and said 'Design in India' is as important as 'Make in India'. Among the top business honchos who pledged investments worth Rs. 4.5 lakh crore and employment to around 18 lakh people are Mukesh Ambani, Cyrus Mistry, Sunil Mittal, Anil Ambani, Anil Agarwal Azim Premji and global CEOs such as Ping Cheng of Delta Electronics. The honchos, who shared the dais with the Prime Minister, were given two- and-a-half minutes each to share their vision and commitment on the Digital India programme. high- speed digital highways unite the nation T he railways are perhaps one of the most sought after travel methods in the country. They are convenient and also carry a lot of launched by Railway Minister Suresh passengers and is equipped with bio- people and goods at the same. Prabhu on June 21. toilets and vestibules for free There are several types of trains, from The Angamaly-Ernakulam- movement of passengers between inter-state to intra-state, from Delhi Tripunithura-Piravom train service is coaches. and Jaipur Metros to the Mumbai expected to help in reducing traffic There are other non-AC coaches in locals. It would be remiss to not call congestion in Kerela's fastest the train which have bench-type them the lifeline of many citizens of growing city. DEMU and MEMU cushion seats and large windows with the country. Indian Railways is also trains are trains that run short glass shutters. Prabhu said at a continuously adding to the plethora of distances in Semi-Urban and Rural f u n c t i o n a t t h e E r n a k u l a m services that it already provides. areas and usually carry daily Junction,“It is for the first time in a The latest addition to this repertoire is commuter traffic. DEMU service, we have provided air India's first air-conditioned DEMU The AC coach has reclining-type conditioned service. We want to (diesel electric multiple unit) train comfortable cushion seats for 73 increase it further. Simla : The government of Himachal Pradesh had signed an agreement with the Government of Spain to let them purchase carbon credits under the Bio-carbon Project of World common village land by villagers and Bank-funded HP Mid-Himalayan local communities who have banded watershed project. This project is together into groups. The financial being implemented in the state to benefits from the carbon credits will increase the livelihood means of the be directly passed on to the local marginalized people, mainly small communities and user groups as and marginal farmers. The agreement incentive for improved natural has led the government to receive the resource management practices. first installment of the sequestered Additional Chief Secretary (Forests carbon credits which is a sum of Rs and Environment) Tarun Shridhar told 1.93 crores. The Himachal Pradesh Media that “The Project is registered government has received the cash under CDM provisions and benefits from the government of subsequently a purchased agreement Spain for implementing the climate was entered with the government of change mitigation project under the Spain through the World Bank for the Kyoto Protocol. sale of carbon credits. The forestry The beneficiaries of the cash benefits plantations raised on 3204 hectares are about 50,000 villagers from 602 became eligible for the first cycle of villages who all raised multiple forest carbon credits. The verification plantations on degraded public land in process for the first cycle was the mid and high hills under the completed in November, 2014.” In community-led initiative. fact, the project is one of its kinds in As a part of Clean Development India and is under the public sector Mechanism (CDM), forest and other and community driven initiative in the plantations are being raised on the hill state.

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Page 1: GSN July edition

“If you are not taking care of your customer, your competitor will.” - Bob Hooe

New Delhi : The Government will provide a roadmap for ending corporate tax exemptions in the next 45 days, Revenue Secretary Shaktikanta Das said here , as part of a plan to lower the tax rate to 25 % in four years.Finance Minister Arun Jaitley, while presenting his annual Budget in February, had announced that the Government would gradually pare corporate tax by 5 per cent during the next four years from 30 per cent and roll back various tax exemptions.

New Delhi : Rei tera t ing his government's resolve to not allowing the 'digital divide' to become a barrier between people, Prime Minister Narendra Modi launched the Digital India Week here during inauguration of digital India week, he exhorted the youth to not only use technology for the country's benefit, but also serve the world by building cyber-security solutions. He urged industry captains, who were present in huge numbers, to boost production of electronics devices and goods in the country as part of the “Make in India” initiative, leading to corporate pledging Rs. 4.50 lakh crore for the Digital India initiative.Drawing attention to global worries on cyber-security, Modi said digitization will mean a lot of data usage stored in servers or cloud. For that the country has to meet the challenge posed by the threat of the 'bloodless war', he added. Clouds of a bloodless war are hovering over the world. The world is terrified by this....India has a big role to play in this,” he said, adding that India should accept the challenge to provide a shield to the world.Modi, who launched the 'Digital India' logo and released policy documents related to the initiative, said his vision o f e -gove rnance and mob i l e governance was when all important government services will be available on a mobile phone.“I dream of a Digital India where

; 1.2 billion connected Indians drive innovation; technology ensures that the citizen-government interface is incorruptible,” he said, adding that “so many coal mines were auctioned but there is no allegation against the government because it was all done in a transparent manner (online).”Similarly, the Digital India initiative was aimed at improving the lives of the common man. “India may have missed the Industrial Revolution, but will not miss the IT revolution,” he said.Assuring full support to young entrepreneurs who wished to launch start-ups, Modi called upon the youth to innovate and said 'Design in India' is as important as 'Make in India'.Among the top business honchos who pledged investments worth Rs. 4.5 lakh crore and employment to around 18 lakh people are Mukesh Ambani, Cyrus Mistry, Sunil Mittal, Anil Ambani, Anil Agarwal Azim Premji and global CEOs such as Ping Cheng of Delta Electronics.The honchos, who shared the dais with the Prime Minister, were given two-and-a-half minutes each to share their vision and commitment on the Digital India programme.

high-speed digital highways unite the nation

The railways are perhaps one of the most sought after travel

methods in the country. They are convenient and also carry a lot of launched by Railway Minister Suresh passengers and is equipped with bio-people and goods at the same. Prabhu on June 21. toilets and vestibules for free There are several types of trains, from T h e A n g a m a l y - E r n a k u l a m - movement of passengers between inter-state to intra-state, from Delhi Tripunithura-Piravom train service is coaches. and Jaipur Metros to the Mumbai expected to help in reducing traffic There are other non-AC coaches in locals. It would be remiss to not call congestion in Kerela's fastest the train which have bench-type them the lifeline of many citizens of growing city. DEMU and MEMU cushion seats and large windows with the country. Indian Railways is also trains are trains that run short glass shutters. Prabhu said at a continuously adding to the plethora of distances in Semi-Urban and Rural f u n c t i o n a t t h e E r n a k u l a m services that it already provides. areas and usually carry daily Junction,“It is for the first time in a The latest addition to this repertoire is commuter traffic. DEMU service, we have provided air India's first air-conditioned DEMU The AC coach has reclining-type conditioned service. We want to (diesel electric multiple unit) train comfortable cushion seats for 73 increase it further.

Simla : The government o f H i m a c h a l Pradesh had signed an agreement with the

Government of Spain to let them purchase carbon credits under the Bio-carbon Project of World common village land by villagers and Bank-funded HP Mid-Himalayan local communities who have banded watershed project. This project is together into groups. The financial being implemented in the state to benefits from the carbon credits will increase the livelihood means of the be directly passed on to the local marginalized people, mainly small communities and user groups as and marginal farmers. The agreement incentive for improved natural has led the government to receive the resource management practices. first installment of the sequestered Additional Chief Secretary (Forests carbon credits which is a sum of Rs and Environment) Tarun Shridhar told 1.93 crores. The Himachal Pradesh Media that “The Project is registered government has received the cash u n d e r C D M p r o v i s i o n s an d benefits from the government of subsequently a purchased agreement Spain for implementing the climate was entered with the government of change mitigation project under the Spain through the World Bank for the Kyoto Protocol. sale of carbon credits. The forestry The beneficiaries of the cash benefits plantations raised on 3204 hectares are about 50,000 villagers from 602 became eligible for the first cycle of villages who all raised multiple forest carbon credits. The verification plantations on degraded public land in process for the first cycle was the mid and high hills under the completed in November, 2014.” In community-led initiative. fact, the project is one of its kinds in As a part of Clean Development India and is under the public sector Mechanism (CDM), forest and other and community driven initiative in the plantations are being raised on the hill state.

Page 2: GSN July edition

“Life can be pulled by goals just as surely as it can be pushed by drives.” - Viktor Frankl

If a failed monsoon could have million tonnes, also lower by 2.87 meant riots and lost elections in million tonnes than the previous

the 1980s, it still means crop failures, year. As a result of setback in kharif and possible farmer suicides and as well as rabi seasons, the electoral debacles. Over forty per production of most of the crops in the cent of the agricultural area that gets country declined during 2014-15, the harvested continues to depend on reason why the government rains, without any irrigation support. continues to be worried. While the This grim fact looms large over all figures are proof of the genuine the technological advancements, political and social concerns over d a i l y a n a l y s i s , w a r n i n g s , delayed or deficient monsoons, contingency announcements and agriculture production statistics also ministerial proclamations that have tells us that Indian farmers might be become an annual drill every May- in the process of learning how to June period. minimise its impact on overall Last monh, Agriculture Minister agricultural output. That is because, Radha Mohan Singh informed that even when compared to a year of the latest monsoon predictions by the record production, 2014-15, which meteorological department point to a was rain deficient and saw 12 per cent deficient rainfall during unfriendly unseasonal rain and hail this season. Even before that his storm, the decline in agricultural ministry put in place a Crisis production was only 5.3 per cent.Management Plan (CMP) for The government preparations did drought 2015. All chief ministers help last year, but there was also an have been asked to expedite element of luck here. Some of the p r e p a r a t i o n o f s t a t e l e v e l regions where there was less rain fall 'Management Plan on Drought' at the were well irrigated areas, thereby state level. The monsoon situation minimising the impact. While there looks similar to the last year (2014- is no doubt about the need to increase 15), when bad monsoons affected the the reach of irrigation, public Kharif crops. investment in agricultural research, Last year's overall production of education, extension, soil testing, food grains also suffered because of warehousing and cold-storage etc. unseasonal rains and hailstorm that also helps minimise adverse impacts. affected the Rabi crops. As per 3rd Let us not forget that the latest Advance Estimates for 2014-15, N a t i o n a l S a m p l e S u r v e y total food grains production in the Organisation data indicates that country should be 251.12 million about 59 per cent of farmers do not tonnes, lower by 13.92 million get much technical assistance and tonnes as compared to the - monsoon know-how from government-funded favoured - record food grains farm research institutes or extension production of 265.04 million tonnes services. They rely on progressive in 2013-14. Total production of rice farmers, media, and private is estimated at 102.54 million tonnes commercial agents such as dealers of which is lower by 4.11 million farm inputs like seeds, fertilizers, tonnes than the last year's record and pesticides for technical production of 106.65 million tonnes. information. Effective measures to Production of wheat estimated at tackle adverse climatic conditions 90.78 million tonnes is lower by 5.07 should not be a once-in-a-year million tonnes than the record exercise. It should be a continuous, production of 95.85 million tonnes round the year exercise. Will the new achieved during 2013-14. Kisan TV, along with mobile Similarly, the total production of applications and technology tools coarse cereals is estimated at 40.42 help?

Pratibha Shrivastava

EDITORIAL

Dear Readers,As you must be aware GSN is a newly launched Business Monthly, releasing from Indore (M.P.), our team request you to send your suggestions feedback, Stories related to our columns & article’s. Your views are valuable to us.

Please write mail to us at : [email protected] call : 98930-98803 or visit us : www.globalstandardnews.in

Indore : In the month of July, Devi Ahilyabai Holkar Airport will get Wi-Fi facility. Director of the airport Manoj Chansoria said that passengers had been demanding Wi-Fi internet for a long time. "Process for building a Wi-Fi zone at the airport has started. The survey has been done by a telecom c o m p a n y, " s a i d C h a n s o r i a . He said Wi-Fi facility would be

bandwidth so that is can be accessible accessible for limited hours and after to more passengers. "The Wi-Fi which passengers would have pay for facility will help passengers stay the services depending on their usage. connec ted , " sa id Chansor ia . Passengers will be able to access Airport Manager Vivek Atre said, "On internet on their laptops and cell an average, passengers at Indore phones sitting inside terminal airport wait or spend around 20 buildings. "We will charge a monthly minutes or more when there are flight fee from the company, which will take delays. There are many business user fee from passengers," said dealers and professionals who Chansoria. c o n s t a n t l y r e q u i r e i n t e r n e t He said the company would be asked connection".to install Wi-Fi device of standard

Indore : Veteran banker KV Kamath ,the newly appointed chief of the New Development Bank of BRICS nations, has stepped down from the post of chairman of the Indian Institute of Management , Indore. Mr. Kamath become the chairman of the board of directors of IIM, Indore

thon 18 May ,2012. "Consequent to his appointment as president of BRICS Bank, KV Kamath has stepped down from the position of chairman of IIM-I board of governors (BoG) and society," said Akthar Parvez, spokesperson of IIM-I. With Mr. Kamath steping down the HRD secretary will act as the chairman of IIM, Indore until a new chairman is appointed. Mr. Kamath was appointed as the head of the BRICS bank in may and his appointment will become effective once he is free from all his current assingnments.

Indore : Mandu, the tourist hotspot of Madhya Pradesh, is all set to get a makeover this August. A joint venture of Mandu Tourism Promotion Council and Dhar administration, the project entails provision of adventure

have also decided to develop an open sports, open air theatre, workshops for air theatre on top of Chhapan Mahal or tourists and other amenities. in front of Jahaj Mahal, which would SDM of Dhar district, Neeraj Singh screen movies during the evenings. said, "Despite Mandu's fame as an Films depicting heritage of Malwa archaeological marvel, it is unable to and Mandu region and also the attract an encouraging number of blockbusters shot in Mandu, will be visitors throughout the year. Hence, a screened." Also, National Rural decision was taken to upgrade tourism Livelihood Mission and local self-amenities and make visitors' stay at help groups (SHGs) from different M a n d u m o r e e n j o y a b l e . " fields will come together to hold Highlighting the project, he added workshops for tourists on local that adventure sports would include jewellery, pottery, local dances, paragliding, paramotor, parasailing, turban tying and traditional cloth water tugging, banana rides, hiking, dyeing. Anup Shrivastav, an artist rappelling, rock climbing and a from Dhar, said, "Mandu is a treasure zipline across the valley of Kakdakho. trove of scenic beauty. We can convey Also, an entertainment zone would pulchritude of this archaeological extend facilities like paint ball and marvel through our artworks."machine ball cricket to tourists. "We

Indore : The Indore Development railways from expanding the Authority is planning to widening 62- railway station, introducing year-old Shastri Bridge through a more rail lines underneath.” huge facelift plan and be developed At present, the gap between into a four-lane one. This bridge in the base of the bridge and located at centre of the city and high-tension electric lines connecting two major parts of Indore. passing underneath is merely By briefing expansion plan of the a couple of inches the height connecting the new Indore in the west bridge Shankar Lalwani, chairman of of the bridge will be increased at least and old Indore in the east. Indore Development Authority (IDA) by a meter, he said. Lalwani said: “We will conduct a said that “The bridge has undergone a On several occasions, the railways feasibility survey and obtain land lot of wear and tear, and has withstood have asked the district authorities for from the government and the railways the adversities of all kinds of weather the bridge's uplift, as it will give them if needed.”The traffic will, however, all these years; it is high time we enough space for expansion of both be allowed to flow while the bridge is upgrade it into a four-lane bridge for platforms one and four and attach under construction. “We will try to the safety and convenience of the more bogies with the trains. The come up with some mechanism so that citizens,”. The proposal for widening expansion will also allow the the construction work does not the bridge was discussed and authorities to connect the new obstruct the normal flow of traffic,” he approved by the board members in a platforms with the old one. said. The board also discussed the meeting held last month. He said: construction of several flyovers in the The 448-meter-long Shastri Bridge “The low height and narrow width of city in order to ease the perennial issue was constructed in 1953 and has the bridge is also obstructing the of traffic congestion.served as one of the important links in

Page 3: GSN July edition

He who has never learned to obey cannot be a good commander.” - Aristotle

I always carry my mobile & purse with me.

My favorite sports are Cricket & Bedminton, favorite sports man is Sachin Tendulkar.

My favorite writer is Alex Haley. My favorite book is Roots. Favorite S u b j e c t i s B i o g r a p h y & Autobiographies.

My idol is Rahul Dravid.

My favorite movie is Maya Bazaar (Telugu). My favorite actors are Amitabh Bachchan, Rajendra Prasad (Telugu) & favorite actress is Savitri (Telugu). Last seen movie is "Tanu Weds Manu-2" at Indore.

My favorite holiday destination are Besant Nagar (my native place) & Karim Nagar Dist. Telangna. My last visited place is Kumarakom (Kerala).

My favorite food is Hyderabadi Biryani & favorite drink is Coconut Water. My favorite sweet is Junnu (made from first milk of cow).

pace of the project besides The company is also trying to allay procedural delays. However, fears that the supply might be Avantika Gas Ltd (AGL) managing affected at a future date when the director Anil Kumar cites other connect ion spreads to more reasons too. He says, “One problem households in the city. The company is that the price difference between has a capacity for supplying 12 lakh the piped gas and the LPG is SCM (standard cubic metre) of gas negligible. The other (problem) is per day and can easily cover the that many people are reluctant to whole city, as a single household shell out the initial Rs 6,000 needs an average of 0.5 SCM daily.registration amount…” The piped gas prices in Indore start Kumar says efforts are on to create from Rs 22 per SCM (standard cubic awareness among the people about metre) and vary according to the the advantages of a piped gas consumption. Company officials say

Indore : The piped natural gas connection and the momentum, he a family that consumes one LPG (PNG) project is yet to catch people's says, has picked up in the past few cylinder per month will consume fancy in Indore because of switch- months. “In 2014-15, we have added piped gas of about Rs 410 to Rs 430 over fears and the liquid petroleum 1,200 connections as against 1,900 (including VAT). The price of a gas (LPG) still being a handy connections until 2014,” he says. subsidised LPG cylinder in Indore is s u b s i d i s e d o p t i o n . “There are many instances when one Rs 460 so the piped gas consumer At present, the piped gas connections household has a connection but the will end up saving some money.are being provided by Avantika Gas neighbour is reluctant to get one,” he Ltd (AGL), which is a joint venture says. At present, AGL has a 220-km of GAIL (India) Limited and pipeline network for supplying PNG Hindustan Petroleum Corporation in the city and will soon increase it to Limited (HPCL). 400 km. After launching operations The PNG project took off in in Saket and South Tukoganj area, the December 2011 with a target of company is now expanding to other providing 5,000 connections by locations, including Bhanwarkuan March 2012 and 1.20 lakh by 2016- area, Pipliyahana and Nepania.17. But, so far only about 3,100 Sources say that subsidy on LPG households have been put on the cylinders is one of the main reasons PNG connection. The sources that is preventing piped gas from attribute many reasons to the slow becoming a cheaper option.

Bhopal : Bharti Airtel (“Airtel”), a knowledge on internet which would Government portals and mobile apps of internet by the girls and women of leading global telecommunications make them adopt and use internet in and other apps of daily use including Madhya Pradesh would help them service provider with operations in 20 their daily lives leading into a digitally social media. It also throws light on stay connected, access wide range of countries and Government of Madhya inclus ive socie ty. The Sta te the various ways to access internet information, keep pace with the latest Pradesh rolled out 'E-Shakti', an Government has identified the girl and the devices required for the same. happening around them and initiative to build internet awareness students from Government schools The training would be conducted in implement its use in their daily lives and literacy among the women of and colleges and women employees Hindi and would be aided by and thereby bridge the digital divide. Madhya Pradesh. The initiative was of various Government departments explanatory videos. Each session We strongly believe that digitally launched by Hon'ble Minister for as the beneficiaries of 'E-Shakti' would be attended by 50 members. empowered women would prove to be Science and Technology Shri initiative. The 1st phase of the Speaking on the occasion, Vir Inder a strong foundation for the forward-Bhoopendra Singh at a ceremony held initiative will be conducted across 6 Nath, Chief Executive Officer, marching state of Madhya Pradesh. at Subhash Excellence School, Districts of Madhya Pradesh – Madhya Pradesh & Chhattisgarh, We are honored and extremely Bhopal. A training session was also Bhopal, Dewas, Gwalior, Damoh, Bharti Airtel Ltd said, “Internet has thankful to the Government of conducted at the launch program with Dhar and Satna. the potential to transform the society Madhya Pradesh for giving us this more than 300 girl students in the The internet awareness training into a strong, prosperous and a opportunity to conduct the E-Shakti audience. would include elementary knowledge progressive ecosystem by building initiative and collaborate with them in The objective of the training would be pertaining to internet, email usage, access to the infinite world of their march towards achieving the to empower the women with useful browsers, YouTube, IRCTC, State knowledge and technology. Adoption vision of a truly Digital India.”

Bhopal : According to a data released by the Reserve Bank of India, as against a FDI of Rs 1,208 crore (US $220 million) in 2012-13 and `708 crore (US $119 million) in 2013-14, the state attracted just `601 crore (US $100 million) foreign investment in 2014-15 . The fore ign d i rec t investment (FDI) inflow to Madhya Pradesh has shown a steady decline over the past three years even as foreign investment in the neighboring Rajasthan and Gujarat has picked up.The state government has blamed economic slowdown and other commercial factors behind the slump, but expressed optimism about the future. “Foreign investors look at multiple factors, including world-class infrastructure and logistics. The Special Economic Zones (SEZs) have failed to take off in the state and this is one indication that Madhya Pradesh is not a very attractive destination except for companies in the pharmaceutical sector,” Dewas Industry Association

president Ashok Khandelia said.Assocham secretary general DS Rawat said “There is a problem of availability of raw material, land and clearances and so investors, especially the foreign investors, are not getting t h e r i g h t e n v i r o n m e n t f o r investment,”.A recent study by the Associated Chambers of Commerce of India has a l s o p o i n t e d o u t t h a t p o o r implementation of MoUs signed by investors in Madhya Pradesh over the past few years has resulted in huge escalation of costs. “Foreign investment depends on a number of factors and we have big projects in the pipeline…The state government has come out with a policy for defence sector and we are confident that it would attract foreign companies in future,” a state industry department official said.

Paris : Operating environment has improved for airlines in India but there is a need to get the airfare metrics right to make profits."We are clear that the Indian market is going to grow at the fastest rate across the world. Our 20-year annual growth rate forecast stands at eight per cent would be an improvement on this and we had estimated India's aircraft front as well. The average Delhi-requirement at $205 billion. But we Mumbai airfare today is just adequate will revise upward this forecast this enough to break even for an airline. month," Boeing India President The low cost carriers are today seeing Dinesh Keskar said at the Paris 90 per cent load factor and therefore I International Air Show . am not concerned on that front as well.Keskar, also a Senior Vice President at "But what I think is that a high load Boeing Asia Pacific, said at the Paris factor and a low fare is not a good In terna t ional Air Show tha t idea. Besides, the basic infrastructure fundamentals remain good for the remains an issue."On the positive Indian aviation market, irrespective of side, Keskar said airlines are expected t h e a b s e n c e o f a n y m a j o r to begin showing profits from the announcements of orders placed by current quarter.Indian carriers at the week-long show. "Even Air India has begun reducing "There are basically three factors that its losses, although revenue still affect the aviation market -- fuel remains low. One of the private prices, exchange rate and the basic players has already reported a profit, supply-demand ratio. while the other has cut the losses "The first part, which is fuel prices is significantly," he said. On aircraft very much under control. The purchase plans of the carriers, Keskar exchange rate may be still high, but it said that only one carrier has gone for has broadly remained within a range cutting its fleet size while Jet is still and that is a positive."The third factor, cautiously adding to its fleet.which actually determines the fare "Air India is actually doing pretty well and therefore can impact the sector in and one of the reasons could be their a big way, is the only area where there use of our fuel-efficient 787," he said, is some concern," Keskar told media while adding that another key factor in an interview. for an airline to make profit is the fleet He said: "I am hopeful that there deployment," he said.

Billionaire Anil Agarwal-led Sterlite Technologies announced

an investment of Rs. 40,000 crores to set up a LCD panel manufacturing plant in the country, generating about 50,000 jobs.The company, which makes optical fibres used in high speed Internet services, is also working on a p r o j e c t t o c o n n e c t d e f e n c e establishments through optical fibres in Jammu & Kashmir (J&K)."Sterlite Technologies under the Digital India theme will also set up a LCD manufacturing plant in the country with an investment of Rs. 40,000 crores and which will generate about 50,000 jobs," Agarwal, the head of mining giant Vedanta Resources Plc, said at the inauguration of the Digital India Week in New Delhi. Industry would actively participate in the drive as it has the potential to drive India ahead as a knowledge and economic power, he added."Sterlite Technologies will play a responsible role in being a part of Digital India. We are already working on a project in J&K to connect the Defence establishment through optical fibres," Agarwal said. He said such a step will help in cutting down import of electronic goods in the country. However, he did not specify the timeline of investment or for establishing the plant. Agarwal added that whenever the country and government have trusted the industry they have performed, whether it is pharma, telecom, etc.

Page 4: GSN July edition

An investment in knowledge pays the best interest. - Benjamin Franklin

A mother of two children, a cooperative wife and CEO of a leading IT company Hewlett-Packard India, Neelam Dhawan is an icon of women in the corporate world. She has also worked as the

head of Microsoft India for quite some time. In an industry, which is predominantly male oriented, her rise to the top echelons of IT industry is no less than a miracle. She faced terrific challenges and fought her way up to grab the less crowded top positions. Her story is quite inspiring to the young females, who think it is very difficult to survive as a woman in the tough corporate world.

Family

Early rejections and fierce struggle to survive

International recognitions for a female business leader from IndiaA quantum jump

Controversies

Becoming a face of Microsoft India

Childhood and schooling

Homecoming to bringing the sinking HP back to life

i n c r e a s i n g a n d d o l l a r w a s depreciating, so the ride was not so smooth. She put on the leadership cap and successfully sailed the company out of the trouble waters. Impressed with that, Meg Whitman, another woman stalwart and the global leader of HP assigned her an extended portfolio of IT services and software engineering research. At present, she is working as the director of HP India Pvt. Limited and at the same time also a member of the supervisory board of Philips Electronics NV.

Neelam Dhawan is married to Atul Dhawan, who is very cooperative and doting husband. Her mother-in-law, who was also a working woman, resigned from her job to take care of the second child of Neelam Dhawan, and continued over there for the next only to enable the ambitious lady to 14 years. Her career also flourished f o c u s o n h e r e n h a n c e d with the growth of HCL until it She has had her fair share of failures responsibilities. Her two daughters became a brand name in IT industry. before she acquired this glorious are named Naina and Nupur.Her marketing challenge grew with success. In fact, companies like

the rising stature of the company. Hindustan Lever Ltd . (now Hindustan Unilever Ltd.) and Asian

When someone achieves so much, Paints did not hire her as the HR Her 14 year long stint at HCL not despite rejections, challenges and people of these companies thought only polished her marketing and friction, the world comes out to salute she did not have the spark in herself. administrative skills, but also him/her; and the case with Ms. It was largely a stereotypical bias of ascertained the fact that she was Dhawan is no different. She was the 80s and 90s that a woman cannot meant for the field of marketing in the featured as 37th “Most Powerful handle the role of the successful IT industry. It clearly charted her Women in Business” in the entire marketer. But Neelam Dhawan was career path and she joined Compaq world in the Fortune's annual global not among the quitters, who accept and worked there for six years before list in 2009. Bill Gates of Microsoft failure too quickly. She was among joining IBM, where she stayed for had declared Microsoft India as a the rare species, who are stronger another four years. At IBM, she was subsidiary of Microsoft Corporation than most of their contemporaries, designated as VP and also a member in the year 2006 in the Asia-Pacific including males. of Board of Directors. It was a huge region, being impressed by the jump that established her as a leading She was determined to venture into leadership and performance of Ms. name in the entire IT industry of the unchartered territory of the IT Dhawan in the capacity of its India.industry of that time, that too in the managing director. It's a huge role of a marketer, where no Indian It was in 1999, that she joined recognition for a female business lady had ever claimed any noticeable Hewlett-Packard as a VP, Customer personality from India that has achievement. But, she successfully Solutions Group. It also established earned respect for the country as created history and became an her as a renowned name in the well.inspiration for thousands of young corporate sphere. She is an

ladies, who quit midway getting unconventional story of success in When we live, survive, struggle and disheartened. the IT industry, where the ratio of thrive in the real world, the female employees is less than 18%.It is difficult to believe that she was controversies are quite natural. the face of Indian arm of Microsoft Though, there are no noticeable throughout her stint, especially in the After that, she started with Microsoft controversies related to Ms. light of the fact that she ended up India in 2005. It was the first time Dhawan's career, but she was in news working for IT industry accidentally. that she walked into the corridors of a in 2008, when she resigned from the The employers of her main field software major because till yet she prestigious position of managing FMCG had closed doors for her and it had worked only for the hardware director of Microsoft. led to her entry into IT and software industry. She was the head of sales According to several microblogs, industry in the field of marketing. and marketing operations at Microsoft India was under scrutiny at Microsoft, where she also learned to the time, for various irregularities deal with both the customers and Neelam Dhawan had a privileged and the investigation was being channel partners. She also tried her childhood, where her parents never initiated by the Microsoft Corp. hands on people management and discriminated between girls and Seattle. She resigned 10 days before brand awareness. She made such a boys. She did her BA (economics) official announcement, citing a r emarkab le impress ion tha t from St. Stephen's College, New family bereavement. People still Microsoft Corporation declared Delhi in 1980, followed by an MBA believe that she had some differences Microsoft India as its subsidiary in in marketing management in 1982 with her colleagues in other the entire APAC region in 2006. from FMS New Delhi. When she departments of Microsoft India and Soon, she became the face of was rejected by the FMCG giants that was the reason she wanted to Microsoft India despite the fact that such as Hindustan Unilever and keep herself away from all the there were many senior leaders in the Asian Paints, she was extremely controversies.company at the time. During the dejected, but she had an undaunted She calmly denied all such course of the time, she assumed the conviction that she's made for allegations and reiterated that she responsibilities of managing director marketing and her qualification at wanted to be a part of a major change (India) for Microsoft Corp and later FMS New Delhi was a call of destiny. going on in HP India, which was on went back to her passion She refused to surrender in front of struggling with various issues at the “hardware.”the insurmountable barriers and time. joined HCL, an IT services company. It was like homecoming to her, where Her decision to join HCL was not she shouldered the responsibility to inspired from any IT boom theory as In 2008, she again joined HP, the pull the company out from troubled nobody could have predicted the company where she had learned a lot waters. Both HP and Microsoft India phenomenal growth of IT industry, about IT industry, but now she took must be indebted to this lady, who way back in the 80s. It was just to on a more challenging role of a restructured their brands and took continue her marketing career and managing director. It was a tough these companies to glorious heights learn new insights. Surprisingly, she time as the company was faced with in India.joined HCL as a trainee executive many troubles. Competition was

Her genius was discovered at the age of two and she was admitted

in class IX at the age of five. Since then, she has created many records. She will now do her PhD till she turns

became the youngest science graduate 17 and becomes eligible to apply for at the age of 14. She would often read medical entrance test. Know more her brother's books and took training about this child prodigy. from her teachers to solve the She was just five when she was problems quickly.directly enrolled in class IX in 2005. Her brilliance does not just shine in When she was seven, she got listed in India. She was invited for an IQ test the Limca Book of Records for being in Japan where she competed with 35 the 'youngest student' to pass class X. other students of her age and stood She was 13 when she completed her first.graduation and at the age of 15, she She aspires to become a doctor but her has created yet another record by age came in between her dreams and finishing her Msc. And that too with a her CPMT results were withheld Semester Grade Point Average because she was under age. As she (SGPAs) of 8!couldn't pursue the medical course Meet Sushma Verma, a 15-year old due to age constraints, she thought of young genius from the outskirts of finishing her PhD till she turns 17.Lucknow, Uttar Pradesh, who has Daughter of a sanitation worker who made headlines by clearing Msc is employed in the same college where (Microbiology) from Babasaheb she studied her Msc, Sushma was also Bhimrao Ambedkar (Central) given a grant of Rs. 8,00,000 by University (BBAU). Not only cleared Sulabh's chief Dr Bindeshwari Pathak the course with flying colours, but towards higher education. also topped the class in the first,

second and third semesters in spite of Sushma is indeed a rare talent who has being the youngest in the class. Most surprised the world with her of her classmates were at least eight to incredible achievements. She has yet nine years older than her. again proved that true talent can find

its right place in spite of many Her talent was discovered when she challenges.recited the Ramayana at a local school

function at the age of two. Her brother We congratulate Sushma on all her Shailendra, who is also a prodigy, had achievements and hope to see her cleared class 10 at the age of nine and scaling great heights.

Jaipur : Did you know that a simple In addition to this, the mobile service mobile is almost doubling the soya dispatches information on price and harvest of women farmers in weather forecasts and prediction or Rajasthan? Soya Samridhi, a mobile- forecasts on harvests, which help based initiative by Self Reliant farmers in harvest collection and better Initiatives Through Joint Action managing the allocation of warehouses.(SRIJAN), has made it possible through Launched in 2014, the facility has their interesting approach.Thanks to reached out to over 700 women farmers this mobile-based intervention, the effectively in 17 villages of Rajasthan. harvest per hectare has increased from Apart from this, SRIJAN is connected 12 quintals to 30 quintals in just one with over 15,000 farmers in four states year! of India.SRIJAN's interesting mobile-based “Currently this mobile service is just Soya Samriddhi project is helping available in Rajasthan for soya crops. women farmers manage their soya But it can be easily be replicated for crops and get advice on relevant other crops in other states of the techniques and best practices from country,” says Arya. The USP of this experts to enhance their harvest. programme is that it reaches out to “The productivity of Indian agriculture marginalised farmers with less than one is in a deplorable condition. Farmers hectare of land. “The government don't make enough profits and are schemes mostly focus on bigger struggling with poverty. We thought we farmers, and small scale farmers are should monitor each farm to see if not benefitted from their services. This farmers are using techniques prescribed initiative reaches out to those farmers by us and determine what is lacking,” who need it the most,” says Arya. says Ved Mitra Arya from SRIJAN. Those farmers who do not have access From monitoring the growth of crops to to a smartphone can avail the facility providing solutions in case of crop through a text-based service, where the failure, this service has had a SRIJAN team gives out valuable tremendous positive impact on Indian advice, suggestions and help in Hindi.agriculture. “Many farmers can't read, so we are The field representatives from SRIJAN planning to build a vocal component in register the farmers using a smartphone the service that will read out the and create their profiles which have solutions to the farmers. But then, with their primary details, land details, crop dialect and language being different in details, resource details, etc. This is every district, it is a challenge to come followed by a survey that marks the up with this feature,” he says.field and measures the area to optimise The SRIJAN team also plans to start a input and increase productivity. peer-to-peer learning experience for the The team also checks details like seed farmers. Through this feature, rate, application of fertilizers, diseases successful farmers will be profiled, in the crop, any irregularities and honoured and publicised as case studies important areas of intervention. “Apart to give them a confidence boost and from getting crucial advice and tips, the also encourage other farmers to follow farmers can also get help in tackling similar techniques.diseases in the crops. The SRIJAN team Thanks to SRIJAN, a simple mobile connects them with agricultural phone is creating a larger impact and scientists who then provide timely helping Indian farmers to make the best solutions,” says Arya. out of limited resources.

Page 5: GSN July edition

Don’t wish for less challenges, wish for more wisdom. - Earl Shoaf

I never wanted to be part of the family- not have to worry about selling or own capabilities to run a successful develop their 6,000 sq ft plot. The owned business, but wished to do marketing the products. I was making venture. By the end of the first year agreement was to give them five flats something on my own. In 1982, while decent profits with the friend making Paranjape Chemicals had posted a in exchange of the land. Both projects I was studying chartered accountancy timely payments and buying products turnover of around Rs 1.5 lakh. were completed on time and we made the opportunity came my way. on a regular basis. However, six a net profit of Rs 20 lakh from the 37 I continued with the chemicals

months into the business my luck ran flats we sold. Next, we purchased a A friend managed to convince me that manufacturing business, but was not out and I was duped by my friend. He plot and developed that as well. The industrial chemicals were in great happy with the progress. In 1987, I including Athashri, a 1,500-unit called me up one morning and asked turnover in 1987-88 was around Rs 80 demand and I would do well if I came to know of someone who owned senior citizen home. As a company, me to ship him the entire stock of raw lakh. In the following year I closed the started a manufacturing unit. The a vacant plot in Pune measuring we have always strived to provide material I had. He said he needed it chemical manufacturing unit and offer was too tempting as he was into 10,000 sq ft. I expressed my wish to satisfaction to our customers and have urgently and would pay me as soon as focused on scaling up the construction the same business and offered to help construct a multi-storey building and been successful in doing so. The proof he gets payments from his clients. In business.me out with the technical knowhow. he readily agreed. I paid him Rs 1 lakh of this lies in the fact that nearly 60% good faith, I gave him the entire stock He also promised to buy the entire and got into an agreement to give him Between 1988 and 2004, we built of our business comes through of around Rs 7 lakh. Within a few days range of products. It could not get any two flats on completion of the project. several housing projects, from 20-30- referrals of our customers. Today, I am he simply disappeared.better, I thought. I was considering taking a bank loan flat buildings to constructing proud to be associated with a The financial loss was immense and to fund the construction, but the townships in and around Pune.I dropped out of the CA course and company that has pan-India presence. because I depended entirely on him I advance payments I received from the took a loan of Rs 15 lakh from a public As of now, almost 2 crore sq feet is My approach was simple. I would did not have my own network of people who booked flats in the project sector bank. My father stood as the under construction across Mumbai, reinvest every bit of the profit back clients. All that I still possessed was helped me finish it. I named the new guarantor. I purchased a small plot of Pune, Nashik, Kolhapur, Ratnagiri, into the business to expand chemical stocks worth Rs 30,000. I company Paranjape Schemes 1,200 sq ft at Bhayander, a western Chiplun and Bangalore, with over operations. In the 25 years after the did not lose hope and decided to (Construction).suburb in Mumbai, for Rs 3 lakh. 1,000 people in our payrolls.launch of Paranjape Schemes, we employ a couple of marketing This, however, could not have been The rest went into buying raw Last financial year we registered a have expanded operations to various professionals to sell my products. possible if my uncle would not have material, machinery and as working turnover of Rs 1,500 crore and made real estate categories, including Soon enough, I was back in business helped me. He was a contractor and he capital for running the business. In Rs 225 crore in net profit (2013-14). housing, commercial spaces, schools, and started generating decent returns. guided me all through with his short,Paranjape Chemicals started This year we have a target of Rs 2,000 colleges, hospitality, SEZ and The experience taught me one expertise and experience.operations with nine people on board. crore. We are also planning to get into townships. Till now we have invaluable lesson; not to trust Even before we could finish the first the hospitality segment with a 153- The first three months went into completed 160-plus projects or 1.40 everyone and, instead, depend on my project, a family approached me to room hotel at Hinjewadi, Pune.learning the basics of the trade. I did crore sq ft of real estate space,

National Electronic Fund Transfer restrict the amount you can transfer in (NEFT) and Real Time Gross one day. For example, HDFC Bank Settlement (RTGS) allow individuals, allows a maximum of Rs 10 lakh to be companies and firms to transfer funds transferred in a day.from one bank to another. You can check the RBI website for a list of According to RBI, banks cannot levy NEFT and RTGS-enabled branches of any charge for inward remittances or your bank. These facilities can only be on receipt of funds. However, it has used for transferring money within the capped the charges on outward

settlement time. In RTGS, transactions country. To opt for these, you need to transfers through NEFT and RTGS. are processed continuously, all through fill a form providing your or the For transfers through the former, you the business hours. RBI's settlement beneficiary's details — name, bank need to pay around Rs 5-25, depending time is 9 am to 4:30 pm on weekdays branch where the account is held, the on the amount. Banks cannot charge and 9 am to 1:30 pm on Saturdays. Indian Financial System Code, a more than Rs 5 for any transfer up to Rs Banks can function within this time unique code for identifying the branch, 1 lakh, Rs 15 for Rs 1-2 lakh and Rs 25 frame or change it. Here, transfers and the account number and type. You for those above Rs 2 lakh. Under made are quick and can be helpful in have to submit a cheque while opting RTGS, you have to pay Rs 25 for Rs 2-emergencies.for this facility. You can also transfer 5 lakh and Rs 50 for anything above Rs

funds through net banking. These are 5 lakh.third-party transfers and the option is available under the same header on I f the t r ansac t ion fa i l s , the NEFT operates on a deferred net your net banking home page. beneficiary's bank must return the settlement (DNS) basis and settles

amount to your bank within two hours transactions in batches. The settlement There is no ceiling on the minimum or and the transaction must be reversed. takes place with all transactions maximum amount that can be Also, the bank must transfer the received till a particular cut-off time. It transferred through NEFT. You can amount to your account within 30 operates in hourly batches — there are even transfer Re 1. However, a minutes of receiving the same. The 11 settlements from 9 am to 7 pm on minimum of Rs 2 lakh must be process can work quickly for RTGS. weekdays and five between 9 am and 1 transferred through the RTGS service. But, in case of NEFT the entire process pm on Saturdays. Any transaction There is no cap on the maximum could take an additional three-four initiated after the designated time amount, though. However, banks may hours.would have to wait till the next

What are the charges applicable?

What if the amount does not get credited? How are the two different?

How much can be transferred?

Between your wallet and that locker in your house where you keep things safe (in theory; in practice you forget to put things in there safely, and then have a panic attack as you desperately search application.everywhere for your missing Or, the RTO could issue your Driver's passport), how many government License directly to your DIGI Locker, documents do you think you have? A based on your Aadhaar information quick check shows that there are alone; this way, if you need to send several at hand - an Aadhaar card, a your new license to any agency as driver's license, voter ID, PAN card, all verification, you'll have an online, in the wallet, and a passport at home. authenticated version available Then there's old income tax return, whenever you need it.property tax receipts, and educational There's also a planned e-Signature certificates from school and college, facility with DIGI Locker, though that all kept "safely" archived for when will be launched later; between digital they're needed. signatures and government documents That's a huge number of documents to in the cloud, it is clear that the keep and manage, and the government government wants to make it easier for also seems to have taken notice. As part people to use government services of Digital India week, Prime Minister online. Today, getting almost anything Narendra Modi officially launched a done with the government requires you digital locker service called DIGI to produce ID documents, which Locker, though the service was soft- requires a visit to the government launched sometime back. offices. Few, if any, government So what exactly is DIGI Locker? Very branches allow you to mail a copy of simply, it's a website where you can your documents - which actually store your various government issued makes sense for security reasons - but documents, using your Aadhaar card as DIGI Locker will be a way to your identification. While it hasn't authentically curate your documents, been stated as such, to us, it also looks and make it easy to share them to like a good way of bringing data from different departments.different government agencies There's also the question of external together under the aegis of the Aadhaar threats. While the DIGI Locker card, potentially making the document website looks to have the basics in more useful to people carrying it. place by using HTTPS (the same To sign up, you need only enter your protocol that your bank uses to secure Aadhaar number, and an SMS is set out communicat ion between your to the mobile phone number you computer and their servers) for the registered at the enrollment camp. This main part of the website, you have to one-time-password is the only way to wonder how secure the backend is. You get inside your DIGI Locker for the can be pretty sure that a place where first time, but afterwards, you can set everyone is keeping their official your own password or link the DIGI documents will be a target for hackers Locker to your Google or Facebook foreign and local.login. Right now, there's not too many ways After you've signed up, you can upload in which DIGI Locker is useful, but it's your government documents to the a clear signpost to the direction we're DIGILocker - there's only 10MB of moving in. Some people worry that storage at present - but you can also this much centralised data could lead to save the Uniform Resource Identifiers misuse, and also warn of the potential (URIs) of government documents of small mistakes in documents now using DIGI Locker. creating much bigger problems than

before, but there's no denying that the The idea is that this should minimise convenience of having all our the need for physical documents; if documents digitally accessible and your birth and education certificates easily shared to different government are online, and you apply for a departments when needed is very passport, then the Passport Office appealing.could use your Aadhaar number to

request the DIGI Locker for your To access your digital locker, visit details, without needing you to carry a DIGI Locker and you can sign up now large file of documents for the for free with your Aadhaar details.

The IRDAI makes it mandatory for discount to the health insurance policy now discount has to be adjusted and insurers and the TPAs to ensure that (on cashless or on reimbursement extra payment will be restricted to Rs every discount received or agreed to be basis). 10,000.received from the hospital are passed on The hospital bill As a to the policyholder. will now on reflect the discount being policyholder, one stands to gain on A regulatory move that actually helps offered, if there is one. Say, the sum three counts: One, the sum insured to consumers in getting a discount is insured of a health policy is for Rs 1 the extent of the discount remains although a rare event but always a lakh and the gross bill amount is Rs 1 available for the policyholder for future welcome move. lakh i.e. excluding the discount. If there use, and secondly, in case the bill is Health insurance policyholders are set is an agreed discount of 10 percent, the exceeding the sum insured, discounting for a sweet surprise as Insurance insurer would end up paying (if its helps in minimizing payout and thirdly, Regulatory and Development Authority cashless payment for policyholder) Rs in case it's a reimbursement case (unlike of India (IRDAI) has directed all 90,000 to the hospital. Importantly, see cashless where insurer pays), you need insurance companies and Third Party how you as a policyholder gain. Instead to pay lesser amount.Administrators (TPA's) to ensure that if of Rs 1 lakh (entire sum insured) being The move is certainly there are any discounts obtained from utilized, Rs 10,000 of your coverage customer friendly and brings out the the hospitals, they need to be passed on remains unused. agreement clauses between insurers, to the policyholders. In case, the hospital bill is more than the TPA and hospitals out in open for the

Insurance companies sum insured, IRDAI has asked to benefit of policyholders. and the TPA's have an agreement with initially adjust the amount of discount The IRDAI makes it mandatory for hospitals on the rack rates of treatment from the bill amount and then present insurers and the TPAs to ensure that cost of all specific ailments. When a the same to the insurer or policyholder every discount received or agreed to be hospital raises a bill, there can be a to pay. Say, in the above case, if bill received from the hospital are passed on discount offered on the same which raised is to the tune of Rs 1.20 lakh. In to the policyholder. goes hidden from the bill. IRDAI has that case, policyholder would have to The next step could be to make the a s k e d i n s u r e r a n d T PA ' s t o pay extra Rs 20,000 from own pocket as treatment rate chart along with discount appropriately identify and apportion the sum insured is till Rs1 lakh. However, transparent and easily accessible to all.

How discounts work : Gains for policyholder :

End note :

The new rule :

Page 6: GSN July edition

"Nothing great was ever achieved without enthusiasm." - Ralph Waldo Emerson

“We see the Indian market to have great potential. India will be a very important market for us and this tie-up will help us expand our footprints in th is ever growing economy. Partnering with GP Petroleums Ltd, a brand with strong presence in the Indian lubricant market, has given us a firsthand advantage in this sector. With our strengths together, we extend our capabilities to globally distribute a wider variety of products,” said Orlando Carbo, Lubricants Director, Repsol.IPOL has been present in India for over 4 decades & has established itself as one of the well accepted industrial

New Delhi : UAE-based, GP range as part of our portfolio. With the lubricant brands. Petroleums previously knows as Sah economy showing recovery, the GP Petroleums has well equipped Petroleums, announced a tied up with lubricant segment is expected to manufacturing facilities with hi-tech Spain's petroleum company Repsol to witness growth in future. With the blending facility, quality-control test exclusively manufacture and market changing engine technology, Repsol labs & automated filling & packaging Repsol's superior and comprehensive lubricants which is focused on stations. The group's in-house Base line of premium quality lubricants innovation is the answer to today's Oil Storage facility of 17,000 KL is across India, thus unfolding a new consumer needs." With this, GP one of the largest in the Indian chapter in the history of Indian Petroleums with its flagship brand industry which uses cutting edge company's operations. IPOL, will now unleash a new remote sensing technology to

aggressive marketing strategy in the Sudhir Goyel, Managing Director, accurately measure and control the automotive segment also with Repsol, Gulf Petrochem Group, said, “We will storage volumes. It has an annual a global leader in the lubricant space.be marketing their entire product production capacity of 80,000 KL.

Banglore : India defeated the visiting New Zealand team by nine wickets in Bangalore to clinch a five-match series 3-2.The New Zealand team was bowled out for 118 in 41 overs, which the home team comfortably chased down in 27.2 overs.

the Indian team Mithali Raj for recognition. But this victory appears Pundits believe the popularity of crossing 5,000 runs and expressed to be a s t ep in the r igh t women's cricket in India will receive optimism for the future. "This five- direction."this series win against a a boost with the national team's match ODI series proved to be quality New Zealand side will be a series win against New Zealand.competitive and was a wonderful shot in the arm for the women's The Board of Control for Cricket in showcase for the skill and class of team".the fact that the women's India (BCCI) announced a prize of women's cricket. It augurs well for series was broadcast live in TV in £21,500 for the women's team after the future," he said. Cricket is the India after several years was also an the victory. Congratulations to our most popular sport in India but the important development."With the skipper Mithali Raj on leading the women's version of the game does eyes of the world and the powers that team with distinction and registering not generate as much interest. While be at the BCCI upon them, it was a series win against New Zealand," the men players enjoy celebrity important for the team to put up a BCCI president Jagmohan Dalmiya status and make big money, the good show," The team win has also said. BCCI Secretary Anurag women players do not get much received praise on social mediaThakur congratulated the captain of

New Delhi : While Sania Mirza and A u s t r i a n - H u n g a r i a n p a i r o f Martina Hingis won the Wimbledon Alexander Peya and Timea Babos. women's doubles title, Hingis The fifth seeds were no match for the combined a day later with Leander seventh seeds and could only manage Paes to win the mixed doubles a feeble smile after being completely crown.India has never had it so good outclassed.at Wimbledon. With three titles on the Nagal grabbed the headlines when the center court here, Leander Paes, Sania 17-year-old partnered Vietnam's Nam Mirza and young Sumit Nagal Hoang Ly to win the boys doubles brought a lot of cheer to the Indian trophy. The eight seeds beat fourth fans that came out in good numbers to seeds Reilly Opelka and Akira support their tennis heroes. Santillan 7 -6(4) 6-4 in the title clash Sania had combined with Swiss that lasted 63 minutes.legend Hingis to win the women's With three Indians rising to the doubles' crown. Hingis returned a day occasion and achieving glory at the later to accompany Paes and walk holy grail of tennis, the Indian tennis away with a fluent 6-1, 6-1win over fraternity had a lot to cheer about.

Mumbai : D i r ec to r t u rned choreographer Remo disuza once again proved his caliber through Varun Dhawan and Shraddha

?100-crore club in its third weekend Shraddha Kapoor's 2nd film to cross Kapoor-starrer dance film “ABCD with its total collection of ?103.25 Rs.100 crore. 2” which has recently crossed the crore in India. The sequel of the 2013 film “ABCD: Rs.100-crore-mark in its third week. “ABCD 2”, which released on June Any Body Can Dance", got the With the success of the Remo 19, is the second Bollywood film in highest opening day and opening D'Souza directorial, Varun has made 2015 to enter the Rs.100 crore club weekend collection in the year so far.his debut in the Rs.100-crore after Kangana Ranaut's “Tanu Weds While the film's entry is Varun’s first club, The box office collection of Manu Returns”. time ever in B-town’s this much-"ABCD 2" suffered heavily in its “With #ABCD2, Varun Dhawan as hyped club, Shraddha has been there third week as compared to its first and well as director Remo D'Souza will done that. Her film “Ek Villain” was second weeks, though on the positive march into Rs.100 crore club. her first ever Rs.100 crore-plus film.side, the movie has made it to the

Page 7: GSN July edition

"In the middle of difficulty lies opportunity." - Albert Einstein

New Delhi : In the second round of for alleged violation of Foreign the offload stamp be expunged and crackdown on NGOs, the central Contribution Regulation Act (FCRA). she be removed from any IB database.government cancelled the licence of The government had also taken action Greenpeace India was at loggerheads 4,470 such set-ups.The government's against Greenpeace India when its with the Centre over the action.whip to regulate NGO operations has activist Priya Pillai was offloaded In April, the government had also also hit entities like top universities in from a London-bound flight by blocked Greenpeace India's bank the country. immigration officers at New Delhi's accounts, following which the The Union home ministry cancelled Indira Gandhi International Airport in environmental group had to seek the registration of these NGOs interim relief from the Delhi HC. under the Foreign Contribution The government had also Regulation Act (FCRA) after blocked funding from the US-going through their activities. based Ford Foundation without One of the reasons cited for the mandatory permission from the strong action was non-filing of Home ministry. A crisis response annual returns by these NGOs. campaigner with Greenpeace The MHA claimed that notices International, Aaron Gray-were given by the ministry's Block, was denied entry into foreigners division before the India after landing in Bengaluru action was taken. as his name figured in a Home

ministry "black list".Prominent organisations whose FCRA licences stands cancelled A senior MHA official, who include Chandigarh-based declined to be identified as he is Panjab University, Gujarat not authorised to speak on the National Law University, Delhi record, said the ministry would January this year. She was to address University's Gargi College, Lady question the immigration officials to British parliamentarians in the UK.Irwin College in Delhi, Vikram learn why they blocked his entry.The Delhi High Court later overturned Sarabhai Foundation and Kabir, an The fresh round of cancellation the action by the Home Ministry and NGO floated by Delhi Deputy Chief process of the 4,470 NGOs started on Pillai's "offload" passport stamp was Minister Manish Sisodia. May 6 and the highest number of such expunged in May.The Centre had cancelled licences of voluntary organisations - as many as The HC also ordered quashing of the nearly 9,000 NGOs in April last year 971 - was de-registered in a single day.Look Out Circular in Pillai's name that

Mumbai : Money held by Indians in Swiss banks fell by over 10 per cent last year to 1.8 billion Swiss franc (about Rs 12,615 crore), amid an enhanced clampdown against the famed secrecy wall of Switzerland's banking system by Indian and other governments.The funds held by Indians with banks in Switzerland fell by CHF 215 million to CHF 1,815 million ($1.98 billion), from 2,030 million Swiss franc, as per the latest data released by the country's central banking authority SNB (Swiss National Bank). This is the second lowest amount of funds held by Indians in the Swiss banks and follows an increase of over 40 per cent in the previous year, 2013. In contrast, the money held in Swiss banks by their foreign clients from across the world surprisingly rose during 2014 to 1.5 trillion Swiss franc ($1.6 trillion or Rs 103 lakh crore), from about Rs 90 lakh crore at the end of 2013 - the record low level so far. During 2012, the Indians' money in Swiss banks had fallen by over one-third to its lowest ever level of 1.42 billion Swiss franc (Rs 8,530 crore).As per the latest data, the total Indian money held in Swiss banks at the end of 2014 included 1,776 million Swiss franc or Rs 12,350 crore held directly by Indian individuals and entities (down from 1,952 million a year ago), and another 38 million Swiss franc (down from 77.3 million Swiss francs at 2013-end) through 'fiduciaries' or wealth managers. However, "amounts due to customers' savings and deposit accounts" was only CHF 52 million (down from CHF 63 million a year ago), while over CHF 100 million was due through other banks and the remaining amount of well over one billion Swiss francs have been classified as "other amounts due to the customers" from India

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Mumbai : Microfinance group of the country with nearly 500 to 600 Bandhan Financial Services has bank branches and 10 million received regulatory approval to begin customers at its launch, Ghosh said. operating as a bank from the end of All the existing microfinance August, its chairman and managing businesses of the company and clients director, Chandra Shekhar Ghosh, will be transferred to the bank, he said to media person here. added. Bandhan had received an "in- The group received its final banking principal" approval from the central license from the Reserve Bank of bank along with Mumbai-based IDFC India earlier and now plans to work in in April last year, and was required to 2 7 I n d i a n s t a t e s i n c l u d i n g start operations within a deadline of Maharashtra, MP and Southern states 18 months.

Banglore : Five years ago Adobe business, in India, and has signed 500 Systems products were the favourite term licences in two years. Then there pirated downloads in India. At the is the Adobe Marketing Cloud, which same time, there were so many has been a global success, as a startups that began using their product, for the company. products without really knowing that Most of the large ad tech firms such as they were using pirated software. In Mobi and ecommerce companies Next thing you know these startups such as Flipkart use the marketing had scaled up and were struggling to cloud to gain traction with customers. find the original version of the Adobe Umang adds that the marketing cloud software. It's with these small was an important transformation businesses that the San Jose-based piece for Adobe because it allowed company wants to build a brand in digital companies to make, mobilize, India. It also wants to bet big on the manage, measure and monetise smart city program where paperless content. For its marketing cloud government offices will become the business it has the likes of Publicis, norm, which will help citizens to use WPP and Sapient Nitro using the digital forms. Over the last year it has marketing cloud for the creative made efforts to connect with over business. "Software as a service is 1,000 small businesses to offer the preferred model today and all pricing that is about $300 a month, for MNCs have already migrated to such less than 10 seats in a company, and a business model," says Sanchit Vir about $1000 a month for larger Gogia, CEO of Greyhound Research.comapnies. However the Adobe India MD feels Five years ago, these small companies the government business is going to were subject to expensive enterprise be the largest revenue earner because licences. "This effort has made India of the smart city program that as an the second most important market in outlay of Rs 48,000 crore, set aside, to the Asia region," says Umang Bedi, build modern citizen services. MD of Adobe Systems South Asia. A dobe is already working on a He says that many startups were program with the government where waking up to compliance and 2 8 , 0 0 0 v i l l a g e s c a n a v a i l governance as a primary element in documentation services from a single setting up businesses, which can help source in a village. them raise private capital. Therefore it This is a paperless initiative run by the was easier for Adobe to get many Central government. Adobe is also more startups on board over the last 12 supporting 10 local languages that can months. Adobe has also shut down be used by several education and its perpetual license business and has government institutions. What moved everything to a cloud-based remains to be seen is Adobe's foray in business model, which charges to setting up a program for startups, customers based on the number of which others, such as Microsoft and users and usage. The company has Citrix, have already set up as also gone on to increase its enterprise accelerators. –

New Delhi : The Finance Ministry Secretary Hasmukh Adhia, has reiterated that more capital support already held four rounds of meetings will be given to public sector banks, to assess the capital requirements of which need an additional Rs. 2.40 banks. Another round will take place

public sector banks, introducing a lakh crore in the next three years to in Bengaluru when Andhra Bank, transparent selection process for meet Basel III capital adequacy Indian Overseas Bank, Corporation heads of banks, working on norms.“We are working and trying to Bank, Canara Bank, Syndicate Bank improving operating performance and understand exactly what the capital and Vijaya Bank will make their providing capital.requirements are going to be in the presentations.For the current fiscal, the government next two-three years for (public The Minister also indicated a has allocated Rs 7,940 crore in the sector) banks. And we are there to comprehensive package to strengthen Budget for capital infusion in banks. support them and provide them the public sector banks, which would However, last month the Finance capital they need,” Minister of State cover five aspects and dimensions, Minister promised to provide more for Finance Jayant Sinha said. such as bringing changes in than the Budgeted amount this fiscal.Sinha, along with Financial Services governance and management of

New Delhi : India is planning to issue sovereign bonds linked to the bullion price in an effort to divert some of the estimated 300 tonnes of annual demand for gold bars and coins and curb bullion imports, which can push up the trade deficit.The Reserve Bank of India, the central bank, will issue the bonds on behalf of

unveiled plans in February for a may be given but the actual rate will the government, with a minimum sovereign gold bond and a bullion have to be market-determined", the interest rate of 2 per cent, according to d e p o s i t s c h e m e . government proposal said.a draft outline issued by the While the deposit scheme aims to The sovereign bonds would be issued government last month."The main mobilise idle household gold, in denominations of two, five and 10 idea is to reduce the demand for estimated at more than 20,000 tonnes, grams of gold or other sizes for a physical gold," according to the draft.the sovereign bond would allow minimum term of five to seven years Indians prize gold as gifts and as a way consumers to invest in 'paper' gold and they could be used as collateral for of storing wealth. The country rather than physical gold. The price of loans, it said. The government aims consumes nearly 1,000 tonnes of gold the bond would be linked to the price to issue bonds worth Rs 135 billion every year, most of it imported, and of gold and it would pay an interest ($2.12 billion) or the equivalent of 50 gold is the second-biggest expense on rate linked to the international rate for tonnes of gold in the first year.It also the import bill after oil. To reduce gold borrowing. For interest rates, "an invited the public to comment to overseas purchases of the precious indicative lower limit of 2 per cent consider on this issue.metal, Finance Minister Arun Jaitley