News in Media - 18-11-2015
FROM; R B Kishore
NEWS in MEDIA :18th NOVEMBER, 2015
Dear all,BANKING
As digital banking grows, branches get smaller
With consumers increasingly using mobile phones and the internet for banking services, major banks are reducing the size of new
branches.Kerala-based Federal Bank, for example, has shrunk the size of its newly built branches from 1,200-1,800 square feet to 800-odd square feet.Digital banking has also paved the way for banks to remodel their branch banking by allowing technology to play a major role.
http://www.thehindubusinessline.com/todays-paper/as-digital-banking-grows-branches-get-smaller/article7889405.ece
It is a mixed bag for the banking sector in Q2
While the worst is yet to be over for many banks, but going by the figures for the July-September quarter, some of the lenders seem to be turning the tide. Public sector banks, which have a disproportionate share of the bad loan burden as they were worst hit by the economic slowdown, have seen non-performing assets stabilising at some of the banks.The second quarter of the current financial year was also marked by healthy treasury gains on the back of falling yields of government bonds as the central bank has adopted an accommodative monetary policy stance. Reserve Bank of India (RBI) has reduced the repo rate by 125 basis points so far in 2015, including a 50 bps cut, in end September that resulted in a sharp fall in yields when the quarter closed.
http://www.thehindu.com/todays-paper/tp-business/it-is-a-mixed-bag-for-the-banking-sector-in-q2/article7889533.ece
Bankruptcy tribunal 'should be in place by December'
The government expects to have in place an insolvency tribunal and appellate authority by December, even as it prepares to get the proposed recovery of debts and bankruptcy legislation approved by Parliament this fiscal."We hope to have recruitments done in another one-two months… We hope to have the National Company Law Tribunal and Appellate Tribunal in place shortly. Once the proposed legislation is passed, hopefully in the Winter Session, then the government can issue notification to enforce it. But both have to be done in sync," TK Viswanathan, Head of Bankruptcy Law Reform Committee, told BusinessLine .
http://www.thehindubusinessline.com/todays-paper/bankruptcy-tribunal-should-be-in-place-by-december/article7889408.ece
POWER PROJECTS
Ministry plans to auction four mega power projects by March
The Ministry of Power plans to call bids for two domestic coal-based ultra mega power projects next month and two more by March 2016.Speaking to reporters at the sidelines of an event organised by India Energy Forum, PK Pujari, Secretary, Ministry of Power, said that out of the four projects on the anvil, one would be in Bedabahal in Odisha and another in Deogarh in Jharkhand. Locations for the remaining two are yet to be decided.
http://www.thehindubusinessline.com/todays-paper/tp-news/ministry-plans-to-auction-four-mega-power-projects-by-march/article7889426.ece
GAS
New oil block auction policy by end of fiscal: Pradhan
The Ministry of Petroleum and Natural Gas plans to be ready with a new policy for auctioning hydrocarbon blocks by the end of the fiscal, said Dharmendra Pradhan, Minister of State (Independent Charge) for Petroleum and Natural Gas.According to the consultation paper, the Ministry proposes to give pricing and marketing freedom for natural gas produced from hydrocarbon blocks auctioned in future. It also proposes to introduce a uniform licensing policy, revenue sharing contract as well as an open acreage licensing policy.
http://www.thehindubusinessline.com/todays-paper/tp-news/new-oil-block-auction-policy-by-end-of-fiscal-pradhan/article7889427.ece
INTERNATIONAL
India, Bangladesh working on pact on passenger, cruise services
India and Bangladesh on Tuesday started working towards a draft memorandum of understanding (MoU) on passenger and cruise services on the coastal and protocol route. Bangladesh said that a highly competitive charge of Taka 192.22 a tonne for the trans-shipment operations at Ashuganj for movement of goods to and from North-Eastern India had been approved by its government, an official release said.
http://www.thehindubusinessline.com/todays-paper/tp-news/india-bangladesh-working-on-pact-on-passenger-cruise-services/article7889428.ece
Modi resets India's Africa strategy
Four changes or incipient trends were noteworthy at the third India-Africa Forum Summit last month. These spell out the contours of the engagement that India will pursue with the African continent, its constituent countries, and regional organisations, as well as the government's desire for a course correction in the traditional trajectory of the India-Africa relationship.In the first change, a departure from the approach of previous Indian governments, the October event dispensed with the practice of following the Banjul formula, under which only a few African countries participated in the summit.
http://www.thehindubusinessline.com/todays-paper/tp-opinion/modi-resets-indias-africa-strategy/article7889470.ece
South China Sea dispute: China hints indirectly at 'interference' by India
China on Tuesday expressed resentment that countries that do not directly belong to the South China Sea (SCS) region have "interfered" with the dispute, indirectly pointing toward India."China does not agree with the interference of countries outside the region into this issue. Especially, some countries that said they do not support any position or take sides on the issue, but in their acts and deeds they did not do what they said," said Rear Admiral Guan Youfei, Director General, Foreign Affairs Office of the Ministry of National Defence, China.
http://www.thehindubusinessline.com/todays-paper/tp-news/south-china-sea-dispute-china-hints-indirectly-at-interference-by-india/article7889429.ece
INFRASTRUCTURE
Economic vitality is the 'key to a smart city'
James Brainhard, Mayor of City of Carmel, Indiana, US, says the only way to transform a city into a smart city is to make it a place for everyone to prosper in a clean and green environment.Speaking on a the sidelines of an event on Smart Cities & Sustainability, hosted by Foundation for Futuristic Cities, he said that good schools, a clean and safe environment and space for people to walk to work, all make for a smart city.
http://www.thehindubusinessline.com/todays-paper/tp-news/economic-vitality-is-the-key-to-a-smart-city/article7889433.ece
INFORMATION TECHNOLOGY
Google opens up Street View beyond monuments
Google has quietly launched its Street View app in India, which gives users glimpses of Indian streets.While the world's largest online search company is yet to get clearance from the Home Ministry to launch its cars and bikes fitted with cameras to collect imagery of Indian streets, Google is currently trying to provide the same experience with user-generated content.
http://www.thehindubusinessline.com/todays-paper/tp-info-tech/google-opens-up-street-view-beyond-monuments/article7889415.ece
BSNL to spend Rs. 7,700 cr capex this year
State-owned Bharat Sanchar Nigam Ltd has set aside Rs. 7,700 crore as capital expenditure in 2015-16 and will spend this on Next Generation Network (NGN), mobile phase-7 expansion, Wi-Fi, among others, its CMD Anupam Shrivastava said.The capital expenditure last year was Rs. 3,300 crore, he said.
http://www.thehindubusinessline.com/todays-paper/tp-info-tech/bsnl-to-spend-rs-7700-cr-capex-this-year/article7889416.ece
India's Internet user base to touch 402 mn by December, surpassing U.S.
The number of Internet users in India is expected to touch 402 million by December, a 49 per cent jump over last year, making India home to the second largest online user base after China, according to a report released by Internet and Mobile Association of India (IAMAI) and IMRB International.India, which currently has the third largest Internet user base in the world after China and the U.S., had about 375 million Internet users in October. By December, India is expected to overtake the U.S. and also will become the first country to have largest Internet users in a free market democratic setup, according to the report released on Tuesday.
http://www.thehindu.com/todays-paper/tp-business/indias-internet-user-base-to-touch-402-mn-by-december-surpassing-us/article7889528.ece
MARKET
Gujarat home to three of five top firms on BSE's SME platform
According to a new report by merchant banker Pantomath Advisors, three of the five top-performing companies listed on the BSE SME platform yielded better returns for investors vis-Ã -vis other BSE SME-listed companies.Shares of MD Inducto Cast and Jiya Eco Products (Bhavnagar based) and Ultracab (India) (Rajkot based) have returned between 17 and 600 per cent since their listing.
http://www.thehindubusinessline.com/todays-paper/tp-markets/gujarat-home-to-three-of-five-top-firms-on-bses-sme-platform/article7889420.ece
15 companies to hit capital market
The coming months will see public issues worth a total of $1.24 billion or Rs.8,300 crore hit the capital market as some of the recent listings have enhanced the confidence level of companies looking to tap the equity market.The last fortnight saw the listing of InterGlobe Aviation and S.H. Kelkar & Company wherein both the entities managed to make their debut at an impressive premium over their respective issue price.
http://www.thehindu.com/todays-paper/tp-business/15-companies-to-hit-capital-market/article7889538.ece
SOFTWARE EXPORTS
Get the security bug out of software exports
"The primary objective of FDA's India Office, which opened in New Delhi in 2008, is to ensure that food and medical products exported from India to the US are safe, of good quality, and are effective." The US accounts for approximately a quarter of India's pharmaceutical exports, consuming some $4 billion worth of medicines from India in 2013-14. Lifting quality of exports also helps India to improve quality of domestic medical supply; the FDA's initiative is thus a win-win for both nations.Perhaps, the powers that be in both these nations could also consider a similar model for the Indian software industry.
http://www.thehindubusinessline.com/todays-paper/tp-opinion/get-the-security-bug-out-of-software-exports/article7889468.ece
AGRICULTURE
Rs. 800-crore food park to come up in Telangana
A mega food park with an initial investment of Rs. 110 crore is set to come up in Lakkampally village in Nizamabad district of Telangana.The total investment is expected to be Rs. 800 crore. The complex will also consist of a smart agro park. It is likely to benefit about 40,000 farmers, an official press release said.The Union Minister for Food Processing Industries, Harsimrat Kaur Badal, laid the foundation stone on Monday. The Minister said the project has to be completed within 24months."Though only two such food processing plants are allowed for each State, we have given three to your State," she said. "The parks that have started operations elsewhere are employing a lot of women and I hope this park will also employ women in large numbers."
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/rs-800crore-food-park-to-come-up-in-telangana/article7889447.ece
SOLAR SECTOR
Solar sector seen adding 3.6 GW in 2016
The country is expected to sustain the momentum in solar capacity addition and 2016 is forecast to see a significant increase in new capacity when compared with 2015 on the back of favourable policy support and continuing action at the ground level.Annual solar installations are forecast at 3.64 GW for 2016 when compared with the expected addition of 2.15 GW in 2015, according to Mercom Capital, a global clean energy communications and consulting firm. "After three years of stagnation, the Indian solar market is set to experience strong growth over the next several years," said Raj Prabhu, CEO and Co-Founder of Mercom Capital. For the present calendar year, solar segment has so far added about 1,652 MW of new capacity, taking the cumulative solar installations in the country to 4,816 MW. There have been a number of important energy-related policy announcements recently, with increased activity on the ground with tenders and auctions beginning to occur more frequently," said Mr.Prabhu.
http://www.thehindu.com/todays-paper/tp-business/solar-sector-seen-adding-36-gw-in-2016/article7889544.ece
STATE
TS budget session from Jan. last week
In a departure from the tradition, the Telangana Government intends to hold its budget session from the last week of January next year and see that the budget is presented in the month of February itself. In all probability, the budget session of the Telangana Legislature will commence after the Republic Day and continue till February. Unlike in the past, the State budget presentation used to happen only after the Union budget is presented.
http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/ts-budget-session-from-jan-last-week/article7889778.ece
Chinese company Trina Solar to set up Vizag plant
Chinese company Trina Solar and the Andhra Pradesh government on Tuesday inked an MoU to set up a Rs. 2,800-crore solar cell plant at Atchutapuram in Visakhapatnam district. Chief Minister N Chandrababu Naidu said the project will create 3,500 jobs.State Industries Secretary SS Rawat signed the MoU on behalf of the AP government with Trina Solar Vice-President Chen Shou Chung.
http://www.thehindubusinessline.com/todays-paper/tp-news/chinese-company-trina-solar-to-set-up-vizag-plant/article7889423.ece
Hyderabad varsity to offer consultancy, incubation services to industry
The University of Hyderabad (UoH) is gearing to offer consultancy and incubation services to the industry, according to Vice-Chancellor Appa Rao Podile."Over the years, we have acquired good capabilities in a few departments. Though we have already been engaged in collaboration with industries, I think we are only utilising about 15 per cent of our potential. Hence, we will be encouraging more joint work and consultancy," he told Business Line in an interaction here.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/hyderabad-varsity-to-offer-consultancy-incubation-services-to-industry/article7889446.ece
'Smart vision plan needed for smart cities'
Each city, which is vying for the smart city tag, needs to think of a smart vision plan, said Mahesh Waghdhare, founding partner of StudioPOD (an agency involved in urban design and planning practice).Making a presentation on 'contextualizing global ideas for Indian cities' at the 'Smart Cities India' conference, organised by Mangaluru City Corporation, here on Tuesday, he said that the smart cities will have to come up with their own solutions for development. The cities will have to respond contextually for each of the scenarios, and all the stakeholders should collaborate actively, he said.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/smart-vision-plan-needed-for-smart-cities/article7889452.ece
A smart communication system
Imagine getting text messages on your mobile phone from your urban local body when a road repair is scheduled in your street.The residents of Tel Aviv in Israel get such messages on their mobile phones about infrastructure work near their home. A digital initiative called 'Digi Tel' launched by the Tel Aviv Municipality two years ago has made this possible.
http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/a-smart-communication-system/article7889478.ece
India Inc.'s overseas investments slide 21% in October
Direct investments by Indian firms abroad fell 21 per cent to $2.28 billion in October 2015 compared to the same month last year, according to the Reserve Bank of India (RBI) data. Indian companies had put in $2.88 billion in the form of outward foreign direct investment (OFDI) in October 2014. In September 2015, investments stood at $ 1.24 billion.The investments were a mix of issuance of guarantees ($1.72 billion), loans ($210.94 million) and equity ($341.82 million), as per the data.
http://www.thehindu.com/todays-paper/tp-business/india-incs-overseas-investments-slide-21-in-october/article7889530.ece
'Maggi ban sent disturbing message to investors'
The ban on Maggi noodles sent out a "disturbing message" to Switzerland's enterprises, raising questions about the implementation of India's regulatory framework, Swiss Ambassador Linus von Castelmur said ton Tuesday.Maggi, a popular noodles brand which has been in India for many decades, is manufactured by Swiss multinational Nestle through its Indian subsidiary. It was back on the shelves from November 9 with the Bombay High Court lifting the ban imposed by food safety regulators. It was banned for allegedly containing lead beyond the permissible limit.
http://www.thehindu.com/todays-paper/tp-business/maggi-ban-sent-disturbing-message-to-investors/article7889532.ece
New hydrocarbon auction policy by fiscal-end: Pradhan
Minister of State (Independent Charge) for Petroleum and Natural Gas Dharmendra Pradhan on Tuesday said that his Ministry aims to have a new auction policy for hydrocarbon blocks ready by the end of the current financial year."We have brought this consultation paper and suggestions will come in by November 30. We will make the policy after considering all the views and take it to the Cabinet. It will be our endeavour to make the policy during this financial year only," Mr. Pradhan said on the sidelines of the Bio-Energy Summit 2015 organised by CII.
http://www.thehindu.com/todays-paper/tp-business/new-hydrocarbon-auction-policy-by-fiscalend-pradhan/article7889529.ece
All work and not much pay for India's manufacturers
In the office of the small paint factory he helps run, Pramod Patel is clear on the problem holding back India's manufacturing growth: cash, or a lack of it.Clients, he says, are taking months to pay, sometimes 150 days compared to the standard 30, choking up businesses like his Reliable Paints and hampering the creation of much-needed jobs.
http://www.deccanchronicle.com/151118/business-latest/article/all-work-and-not-much-pay-indias-manufacturers
Acche din are back, 88 per cent firms plan to step up hiring
The job market is gaining traction around the world, including India, as 88 per cent employers in the country are planning to up their headcount, a survey by recruitment firm Antal International says.According to the latest Antal Global Snapshot on hiring and firing trends covering more than 9,500 organisations in 30 key countries, job prospects for professionals and managers are continuing to improve. In India, 63 per cent of companies are currently hiring, up 10 per cent over last year, indicating that an improving Indian economy is fueling demand for qualified managers and professionals.
http://www.deccanchronicle.com/151118/business-latest/article/acche-din-are-back-88-cent-firms-plan-step-hiring
Chennai floods: An Indian policy failure
Tamil Nadu and south coastal Andhra Pradesh have suffered torrential rainfall in the Northeast Monsoon season. The Tamil Nadu coastal region, including the capital Chennai, its surrounding districts of Kancheepuram and Tiruvallur, besides Pondicherry and Cuddalore further south, have suffered immense damage and total disruption of normal life from flash floods caused by rain. Worsening matters is the water freely released from major lakes around the capital and from thousands of minor tanks, all of which filled up in the last 10 days at a furious intensity rarely seen.
http://www.deccanchronicle.com/151118/commentary-op-ed/article/chennai-floods-indian-policy-failure
Tour operators call to rationalise vehicle tax
The Telangana government is sitting on the rationalisation of quarterly motor vehicle tax due to which tours and travel operators are ending up paying more tax.A quarterly tax of Rs 893 has to be paid for each seat. For example, if it's a 22-seater vehicle, the quarterly MV tax comes to Rs 19,646, and in case of 40-seater bus the taxation comes to Rs 35,720.
http://www.deccanchronicle.com/151118/nation-current-affairs/article/tour-operators-call-rationalise-vehicle-tax
GLOBAL
Chinese handset maker Coolpad plans R&D India arm
China-based mobile handset maker Coolpad plans to set up an R&D centre in India. Coolpad India chief executive officer (CEO) Syed Tajuddin on Monday said, "We are planning R&D centre in India and it may come up in Bengaluru. The financial details of the project will be revealed in December."
http://www.deccanchronicle.com/151118/business-latest/article/chinese-handset-maker-coolpad-plans-rd-india-arm
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