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THOUGHT OF THE DAY

THOUGHT OF THE DAY

“Go as far as you can see; when you get there, you'll be able to see farther…”

Law Updates:

Ease of doing business: Government likely to remove sectoral conditions like minimum capitalization. Sectors that would benefit the most from this clean-up are nonbanking finance, venture capital, construction, pharmaceutical and retail.

The new insider trading norms have confused potential acquirers. Players are asking for clarity over a clause, which requires price-sensitive information obtained during due-diligence to be made public.

Investigative agencies have traced the Rs 6,000-crore money laundering scam involving Bank of Baroda (BoB) to 11 accounts of HDFC Bank, where the fraud might have actually commenced. More arrests of those involved in the case, besides six made by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED), are expected in the coming days.

PROFESSIONALS INPUTS:

Vide CBDT Order No. 198 of 2015 dated 13 October, 2015 In order to

address the large pendency before DRPs at Mumbai and Bengaluru,

CBDT has decided to create additional Benches i.e. DRP-3 at Mumbai

and DRP-2 at Bengaluru.

Vide CBDT Press Release dated 14 October, 2015 CBDT makes

Claiming of medical expenditure for tax purposes easy.

ICSI Invites Suggestions for Pre-Budget Memorandum 2016-17 on

direct Taxes and Indirect taxes and other issues in respect of proposals

relating to changes in Customs and Central excise duty rates.

Vide Notification F. No. 407/12/2014-AVD-IV(B) dated 12 October,

2015 notified Public Servants (Furnishing of Information and Annual

Return of Assets and Liabilities and the Limits for Exemption of Assets

in Filing Returns) Third Amendment Rules, 2015 under which time

period to file revised declaration of property by public servants has

been extended by 6 months.

MARKET WATCH:

SENSEX: 27002.43 222.77 NIFTY: 8175.80 67.90

SILVER: 37626.00 51.00 GOLD (MCX): 27283.00 77.00

USD/INR: 64.84 -0.21 CRUDE OIL: 3021.00 -13.00

CS Rajiv Bajaj

9811453353

Bajajr66@gmail.com

youtube.com/csrajivbajaj

https://www.facebook.com/Rajiv1Bajaj

http://www.csrajivbajaj.com

Date: 15th October, 2015

www.csrajivbajaj.com

Naman Sarawagi

Co-founder and CEO of FindYogi

His Life is a dream of every student and entrepreneur in making. The

27-year-old, computer science student Naman Sarawagi, worked with

two startups which later became symbols of success. Today he is a

successful entrepreneur living in the vicinity of Koramangala with an

exciting life managing multiple departments of his new venture.

Early life

Naman Sawawagi is a computer science graduate whose life has been full of startups. Starting his career with Freecharge in 2010, Naman gained first-hand experience of working at a technology startup and learnt some of the nitty-gritties of the trade while managing product and marketing. He then moved on to writing for a while when he covered and reviewed Indian startups. While doing these things, Naman heard about some folks in Bangalore building a business around missed calls and this had been on his mind ever since in college.

Career Naman moved on to writing for a while when he covered and reviewed Indian startups. While doing these things, he heard about some folks in Bangalore building a business around missed calls (something which had been on his mind since college). “But that idea never saw the light of the day. So, when I heard about ZipDial, I wanted to work for them,” says Naman. He took up the offer and was the product manager there for a close two years. Having been in the tech space all this while, Naman always fiddled on his own products and while at ZipDial he caught on the whole opportunity with gadget prices. “I was barely a month into it and realized there is a huge need for tools to help in shopping decisions; price comparison engines had huge traffic but they were solving the problem only partially. That is when I started pursuing FindYogi, with more than just money in mind,” says Naman and hence was born FindYogi.

FindYogi, Chat-based shopping assistance app.

FindYogi is all about reducing the customer’s pain to make tough choices before buying. The first launch in December last year was a bare structure and now FindYogi has overhauled the design and added three major elements which Naman explains: Publishing complete set of features and prices from different sellers. This sounds very trivial but

most ecommerce companies in India do not have so much detail and accuracy. This is a completely manual process.

Quantify every product based on different features. We provide a Feature Score, a score out of 100, to every product. This is calculated taking into account all the specifications of the product as compared to maximum of that available in market.

Quantify Value for Money. We have introduced FindYogi Index, a rating out of 5, that tells you if a

product is worth buying at its current market price. This a completely automated feature that takes into account all the products, and their prices, of that particular categ ory into account. We do not currently account for brand perception and novelty of the product.

FindYogi.com started with consumer electronics and currently serves consumers for mobiles, tablets,

cameras, laptops and television. The company plans to cover all kind of consumer durable products in

future.