ifci

https://www.bloombergquint.com/business/2017/08/16/ifci-has-higher-gross-bad-loan-npa-than-idbi-bank-lender-with-worst-asset-quality

Bol d apeal for fresh eyewear,

has consistently It's isn't new for advertisers target a young audience with content that  isn't appropriate
for family viewing And fasttrack has been notable youth oriented  brand that has consistently come up with risque commercials that speak to sensitivity of a young, urban
population. In its latest compaign, Fast - track has floated  digital advertisement
that tries to woo fashionable
youths in the age group 18-25
with an unabeshed narrative that urges them to 'get fresh'.

The ad shows a boy bespectacled  girl with a colourful frame. The film less than half-a minute long, flashes a montage of shots that include a girl popping a chewing gum, the lovers' embrae, drum roll, close up a splash the cuckoo
emerging from a clock, etc.
leaving little to imagination at to what transpires between the pair.

Battery of issues plagues e- cars

Union Transport Minister Nitin Gadkari's ultimatum to the auto industry to sift to non - polluting
alternatives ("wether they like or not") or get bulldozed has raised concerns among carmakers on the feasiblity of the government's plan to have
all new cars powered by the electric engine by 2030

Gadkari also made it clear that he would go after diesel vehicles warning the industry not to complain of unsold investory later.

To achieve the target, the industry says manufacturers have to sell 10-15 millions electric cars in 2030, which is eight to ten times the sales of  such vehicles in the worldin 2030.

Short - term news is not as positive as the long - term news'

We have sharp rally this year was driven it?

Structural changes enacted by the government and the increase in domestic  liquidity.
Both the demontisation and the and the services tax (GST) will have far reaching implications.
Both will support the foal economy and benefit companies in the organised sector. The second ractor, 
domestic  liquidity, is the corollary to the first.We can seeing mutual funds and insurance companies getting good flows.

Is it a concern that the market rise is being led by valuation
expansion?

Our proprietary valuation model suggests investors are putting
Much ore valence on long-term
Factors than on current earnings. The two drivers will have to play out in the longer term but in the immediate term, earnings will be under pressure.

SC asks Google, FB to give inputs on objecitionable vidios

Internet majors such as Google , Yahoo and Face book
and instant messaging application WhatsApp were on
Monday directed by the Supreme Court to furnish  details of complaints they have received in India about the uploading of injectable on child promography, rape and gangrape. The apex court asked them to provide such details they received last year and this year till August 31st and about the action taken by them on such complaints. A bench comprising justices Madam B lokur U U Allot directed the Ministry of Home Affiars (MHA)
to apprise it about the number of prosecution under the provisions of the Protection of
Children from Sexual  Offensive
Act (POCSO) 2012, during the period.

Recoverly brgins for telecom incumbents,

After two quarters of pain.
revenue of telecom operators are expected to stabilize in the June quarter, estimate brokerage.

While revenue will be elusive, the earlier sharp cut in realisations are expected to reduce with companies reporting flat to marginal drops
in revenue. While there is nothing to write home about, it would be much better than the prior to quarters of a 6 to 7%
revenue declines each on a sequential bases.

Oversight panal for bad loans to beefed up,

Staying​ on course to resolve the
bad loan problem plaguing the banking sector, the Reserve Bank of India (SBI) out lined the further steps it plans to take, such as expanding the oversight committee (OC) and its mandate, it modifying existing debt recast rules, and engaging rating agencies for time by action.

The central bank will
reconstitute the OC,  and expand the panel to include more members. The existing OC which has two members was 
constituted  by the Indian Banks' Associated. The RBI now
reconstitute the OC under its agencies and the two current members will continue in the revamped panel. The larger OC
could then set up branches to deal with the volume of cases
referred.

Housing for poor finally takinga off,

Though the central government's Housing for all or Pradhan Mantri Awas Yojna
(PMAY) slow starter, the scheme seems to have gain momentum in the past six months.

The government launched the scheme urban poor in June 2015 and extended  it to ruralint areas in November 2016 promising a firm (pucca) housing unit for every household covered by 2022.
Initially, it intended to cover only
the economically weaker sections or EWS (those earning up to ₹3 lakh a year) and low income group or LIG (earning upto ₹ 6 lakh) The coverage  was later increased to include the middle income group.

Property developers and the consultants say the scheme will be successful in the next two years, given the government recent initiatives to buyers low cost homes and to the builders. An interest subsidy of 3-6.5% was announced for loans of ₹6-12 lakh for those in the EWS and LIG category who wish to take a lone up to ₹6 lakhs, there an interest subsidy of 6.5 % for a tenure of 15 years. Around 20,000 people have availed of the money under this scheme as of January this year.

In December the government had increased the lone amount to ₹12 lakh, targeting the mid -
income category. The interest subsidy on loan up to ₹12 lakh is 3 % for rural areas,an interest subvention of 3% ₹12 lakh for constructing new homes or extension of old ones.

1% tax at source​ under GST likely for on line sellers,

The centre and states are likely to each impose a 0.5% tax collected  at source on sellers of products on e - commerce
website such as flipcart  and Amazon under the goods and services tax (GST) regime.

This proposal would be taken up at the two- meeting of the
GST Counsel starting Thursday
in Srinagar. The tax will be  collecting by the e-mail commerce marketplacing. They will deduct 1% while paying the sellers.

E-commerce players had either  opposed in the GST law to impose a 2% tax - 1% by the Centre and states each deducted it source. The new indirect tax regime is expected to be rolled out on July 1.

To be continued....

....

ED, I-T dept set to get more power.

After providing more powers to the Reserve Bank of India (RBI)
to tackle the bad loan problem
in the banking industry, the Centre is likely to empower the
Enforcement Directorate (ED)
and the income -Tax ( I-T)
Department  to auction assets
defaulters or those e money laundering.

Such a move could help in expediting the recovery process
in cases where investors have lost thousands of crores rupees.

The centre might introduce Provisions of money laundering
act (PMLA) to enable the ED or the I-T department to auction
attached assets soon after filling the chargesheet or before the case trials begin​. The ED now has the powers to professionally attach the property of a person believed​ to
be in possession of  'proceed in a crime. Such proceeds are likely to be concealed or transferred and may result in frustrating proceeding relating to confiscation. After the provisional attachment of the property, the officer has to forward the complaint to the adjudicating authority.

Talk of who is Indian is a

UAmit Agrawal senior vice​ -
president country head for Amazon India, everything ,

Talk of who is Indian is a dis traction

To be continued..

According to Adi Godrej 16 plans to make India export hub

Each - tailors and  modern retail have not made much progress in  India, says veteran industrialist ADI Godrej , who finds 'kirana' merchants​ to be efficient, particularly in the fast
moving consumer goods (FMCG) space. "They​ (e-tailors in India) are not making much progress, even modern retail in India is not​ making much progress, "the Chairman​  of the Godrej Group told PTI, while
talking about the scene in this
space. In FMCG space, over 90 per cent of the sales comes from ' kirana' merchants, who are very efficient, added the  former President confederation
Of Indian industry.

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Once a Trump critic , Nikki Halley herself as his leading diplomat,

action against SyBefore and after he became president, Donald Trump made it pretty clear that he didn't much value in the United Nations. So when he named Nikki  Haley (pictured) as his choice for United Nations
Ambassador,any wondered
whether he was simply shunting
a tough critic trivial post.

    In the past week Haley made it increasingly clear that she has no intention of being sidelined​. To the contrary as diplomats as
the United Nations saw it, she managed to elbow herself into a leading, outspoken role in the Trump administration.

    On Wednesday, wielding pictures of dead Syrian children,
she was the first senior official
in the administration to warn that the United States could
unilateral action against Syria's
P for the chemical attack that killed more than 80 people in the country. The same day she was named the full member of
the  coveted principals' committee on Trump's National
Security Council, where critical
policy work is done.

Chasing rainbows

As the government readies its plans for Indradhanush 2.0. It's worth wondering about the functioning of the Banks Board Bureau (BBB), an autonomous entity, was a key element of
Indradhanush 1.0. a seven point programme announced in August 2015 to revemp the functioning of the public sector
banking system. The ambitious mandates​ include appointing
bank chiefs and senior officers, suggesting mergers acquisitions, advising banks on innovative financial methods to raise capital and putting in place a governance and accountability framework for India's 27 state - owned bank
that accounts for almost 74 per cent of the country's banking activity. But since it started  functioning in April 2016, the six
member BBB, headed by former
C and auditor - general Vinod Rai has been conspicuous by its inaction.
a
ai

New insolvency norms give creditors a wider

To recover their dues, creditors of an insolvent company will have more options now.

     They might be able to tap into an asset size bigger than
what prevails under the current
mechanism.

    With the regulator the insolvency Bankruptcy Board of
India, notifying the rules recently, Indian  creditors lay claim to the foreign assets of an insolvent company in addition to its assets. And, foreign creditors will be able to claim all assets​ of the company.

        Customers who have made
advanced payments to the company can claim assets in proportion to their payments but they would not be given  priority.

At 7℅, Q3 GDP growth beats note ban blues.

Manufacturing, agriculture drive higher- than- expected numbers

Gross Domestic product (GDP)
For the third quarter (Q3) of financial year 2016 - 17 (FY17)
Grew at 7℅ allyling fears of any major effect of demonetisation
Through it was the lowest expansion in four quarters.

Private final Consumption expenditure denoting demand, rose at double the rate (10℅) in Q3 against five per cent in Q2.

The aQ3 members not only made India the fastest- growing
Large economy in the world but also helped the central statistics Office (CSO) retain its earliest projection ( in first advance estimates) for full-year
GDP growth at 7.1per cent in the second advance estimates
Rd on Tuesday.

CSO stuck to it's projection despite the fact that GDP growth for 2015 -16 was revised
to  7.9 ℅ from earlier 7.6℅ after release of the first advance data. Investors continued to show weakness for the entire
financial year even though it was shown to rise against contraction in earlier data. First advance estimates did not take
Into account the impact of
demonetisation, while the second one factored it in terms
of latest available data.

Budget will boost the economy

The 2017-18 Union Budget has been a game _ changing
one in the many ways. From introducing visionary
measures promote  Digital India to discarding a separate Railway Budget, the government has proposed a balanced Budget.

Recent derailments had brought the vulnerability of the national carrier into the lime light. For the railways, funds allotment of R's. one lakh crore towards safety, is a welcome more. Better safety can be ensured with improved tracks, better rolling stock, better signaling,
lesser  level- crossings, fencing where required and world - class maintenance of tracks . This would lead to safer and faster movement , would fuel efficiency and productivity.

The government  is paving the way for semi- heigh speed trains across the network. Progressive moves like these will ensure that India gets to the global standard in terms of competence efficiency and financial management in devilment.

Trump vows to stop China from taking south sea islands

The new US  administration of president Donald Trump
vowed on Monday the United States would prevent
China from taking over territory in international waters in the South China Sea something Chines state media has warned would require Washington to 'wage war'.

The comments of briefing from White House spokema
Sean Spicer signalled a sharp departure  cautious U S
handling of China's assertive pursuit territorial claim in Asia, just day after Trump took office on Friday.

The US is going to make sure that we protect our interest there. "Spicer said when asked if trump agreed
with comments by his secretory of state nominee "Rex
Tillerson. On January 11, Tillerson China should not be allowed access to islands, it has built to the contested
South China Sea.

lt's is a question of those islands are in fact in international waters and not part of China proper, then yeah we are going to make sure that defend international territories from being taken over by one country." he said.

Mistry loses agin as NCIT dismisses plea

The national company Tribunal ( NCLT ) dismissed contempt petition filed by two Cyrus Mistry family companies against Tata Sons and its directors, alleging violation of NCLT of directives in taking steps to remove
him from the board in TaTa Sons.

The Bench,  however, gave liberty to the Mistry family companies to file an affidavit within thr days on the issue of Tata Sons holding extraordinary general meeting ( EGM ) on February 6.

Pronouncing the operative part of the order, a division bench ( NCLT ) said "The contempt petition.is dismissed." The Bench was of the view that the action of Tata Sons  did not amount to contempt of court. In their petition, Cyrus investors and sterling investment  had also sought injection against the Tata Sons barring
them from "convening or holding of the EGM scheduled
for February 6.2017 or any other date or from transacting any business threat".

With Swan Energy, Tatas seek foothold in LNG infra

Tax breather for foreign investors

The circular gave rise to fears that there there would be
'triple taxation' on the activities of the India - focused
funds  overseas. The circular implied that India dedicated funds would be taxed if they sell shares
overseas.

Besides overseas individual investor of the fund would also be taxed in India and would not get any tax credit
in his home country. The direct taxation avoidance
agreement ( DTAA) also does not come to the rescue of
investors.

The tax arises when Indian assets of the fund constitute fifty % of the total asset value of funds globally or Rs. 10 crore. However those having less than 5 % of fund shares exempted  from the tax.