Nov 20, 2015 - One-day 'mass leave' at RBI hits key banking services

View online   Advertise              Unsubscribe from TradeBriefs Business Daily

Sree Vijaykumar From the Editor's Desk The 'Ease of Doing Business' ranking for India improved from 142 last year to 130 in the latest report. Surely, this is still bad, but an improvement is an improvement. Here's one suggestion that could further improve the ranking. Change the Service Tax law that makes small businesses pay service tax to the government at the time of invoicing rather than at the time of collection. It used to be fair earlier, till the law was changed for the worse in 2010, when Pranab Mukherjee was the finance minister. So effectively, an already cash strapped small business has to pay the government today for payment that it may receive from its customer 3 to 9 months from now. I know several businesses that are not able to do this and are perpetually paying penalties and interest to the government. Others are faking post-dated invoices. Surely, not easy to do business in India - Comment One-day 'mass leave' at RBI hits key banking services Major banking transactions took a hit on Thursday as over 17,000 employees of the Reserve Bank of India (RBI) went on a "one-day mass casual leave" protesting against reform measures of the central government and seeking better retirement benefits. Advt:Why Dubai Marina has been prime investment region in Dubai Why Investments in Dubai Real Estate is safe through Escrow Modi to raise banking cooperation issue with Singapore Prime Minister Stringent qualifying norms have deterred Indian banks seeking access to the city-state’s market 'Vedanta not considering sweetening Cairn merger offer' With minority shareholders of Cairn India said to be against the merger of the company with parent Vedanta Ltd, Vedanta Group Chairman Anil Agarwal today hoped he wouldn't have to sweeten the merger offer. Micro finance firms in India with banking license need to be careful as to not service the rich now: Muhammad Yunus Yunus said that unemployment is no longer a worry of the developing nations as countries like large chunk of youth in Italy and Greece too are suffering from joblessness. RBI opens door for banking M&As, allows individuals to own more than 10% in banks For the first time in decades the central bank has said that it could permit promoters, or investors to own more than 10 per cent if the applicant meets certain conditions. RInfra to sell 49% power business stake to Canadian pension fund The Anil Ambani group firm said it will utilize money from the stake sale in the power distribution business to reduce debt Three reasons why crude at $40 can be booster for Indian market The slowdown in global economies has impacted the demand side, which has resulted in a sharp drop in crude oil prices. Failed exits at corporate debt restructuring cell continue to rise CDR cell saw 24 such exits with `19,303 crore loans this fiscal against 23 exits with `17,062 crore loans a year ago Samsung Lab funds 100 startups in quest to increase innovation Samsung now encourages its employees to innovate, marking a shift from its earlier work culture PE firm KKR acquires Avendus Capital KKR will invest in Avendus to fund the company’s foray into the credit solutions business ICICI Bank to sell Rs1,950 crore stake in life insurance arm PremjiInvest, Temasek subsidiary to pick up the stake, valuing ICICI Prudential Life at `32,500 crore Zopper's first TVC makes neighbourhood stores the face of e-commerce Conceptualised by Lowe Lintas Delhi, the campaign presents the benefits of using Zopper to the consumer, through a retailer’s perspective Delhi-based PriceMap aims to be the Google of off-line retailers PriceMap is all set to target the $600 billion retail business, which is still dominated by 12 million mom-and-pop stores. Online pharmacy startups struggle to convert orders into sales The startups, already facing opposition from offline chemists, are spending a large chunk of their investments on improving patient awareness of proper prescriptions. Jubilant FoodWorks plans to hire 5000 employees in FY16, invest Rs 200 crore The company, which is already a 30,000-people strong organisation, is looking to invest about Rs 200 crore for its expansion plans. Artisans see fortunes improving as online players like Craftsvilla, Amazon, Flipkart remove need for middlemen Artisans have seen their fortunes improve as online sellers such as Craftsvilla, Amazon and Flipkart, among others, have removed the need for middlemen. Hind Coca Cola picks Bengaluru commercial space in Rs 70-crore deal In one of the biggest real estate deals in Bengaluru, Hindustan Coca Cola Beverages (HCCBPL), the largest bottling partner of beverage major Coca Cola India, has purchased 150,000 sq ft commercial space from Brigade Enterprises for an undisclosed sum. E-commerce traffic during Diwali surged 75.5%: Survey UCWeb, India's leading mobile browser with an over 54% market share, said e-commerce traffic during the Diwali shopping season surged a whopping 75.5% this year. Measuring ROI of retail analytics Why a retailer should monitor the impact of its shopper insights initiatives Amazon shares double in value, Jeff Bezos' yields a global retail juggernaut Shares of Jeff Bezos' company have doubled in value so far in 2015, pushing Amazon into the world's 10 largest companies by stock market value. An Indian yoga guru is building one of the country's biggest consumer goods companies First he became the face of yoga in India. Now, he is taking on major global consumer goods companies with products ranging from herbal tea and fruit juices to toiletries. Baba Ramdev—born Ramkrishna Yadav—seems poised to give some of India’s biggest consumer goods makers a run for their money with his ayurvedic, made in India products.... Shashwat Goenka: Swimming in the deep end Shashwat Goenka has been given the responsibility of Spencer's Retail as his first challenge. But the scion of the RP-Sanjiv Goenka Group is unperturbed: He is confident of the business emerging stronger and, importantly, profitable Micromax's YU goes offline, partners with Reliance Retail to sell handsets Yu Televentures, an arm of parent company Micromax, that manufactures and sells Yu Branded smartphones has entered a strategic partnership with Reliance Retail with an aim to make YU devices available to customers offline Indian millennials spend 2.2 hrs a day on phone: Report Average millennial (aged 16-30 years) in India is spending about 2.2 hours a day (or about 34 days of a year) on their mobile devices, says a report by global research consultancy firm TNS. This is, however, lower than the global average of 3.2 Telecom department may seek PMO's help to free up TV airwaves for 3G/4G DoT may dial the PMO to build consensus across key govt departments to speed up India's call for freeing up idle television broadcast airwaves for 3G and 4G services at the World Radio Conference. LG confirms mobile payment system, will it come to India? Mobile payments are getting hotter, the latest company to jump on the bandwagon is South Korea's LG. Reliance Jio 4G Success Is Dependent On Reliance Retail Strategy Reliance Jio 4G success will be dependent on four parameters - network quality, handset distribution, bouquet of 4G services and cost of 4G services Android, iOS continue to rule mobile OS market: Gartner Worldwide mobile phone sales reached nearly 478 million units during the third quarter of 2015, registering a 3.7 per cent rise in sales during the same period Apple crosses $1 billion sales mark in India Analysts attributed this to the surge in demand for iPhones with sales growing upwards of 35 per cent quarter-on-quarter in the last two years. India low on mobile penetration, but high on new connections 13 million new mobile subscriptions added in Q3 What ecommerce companies like Flipkart, Snapdeal, Uber are doing to battle consumer fraud Snapdeal, which came under fire especially after a customer last year received a soap bar instead of a smartphone, is applying extra caution. Global handset makers Samsung, Xiaomi, OnePlus, Motorola may soon get to directly connect with buyers Global handset makers may soon be able to sell directly to customers in India through their own ecommerce platforms by manufacturing their products in the country. Cisco veteran Padamsree Warrior, Mohandas Warrior eyeing companies to invest in India Padamsree Warrior has joined the ranks of global Indians who are taking a fancy to Indian startups and are increasing looking at investing in them. Tiger Global to tone down current aggressive style; to come up with two-track approach in giving money to companies Tiger Global Management, the most prolific backer of startups in India, has decided to tone down its current aggressive style here. Cooey's IoT-enabled Healthcare Devices Now Available On Flipkart Bengaluru-based IoT healthcare startup Cooey wants to be the 'WhatsApp for Healthcare'. Why services like Ola are getting preference over e-tailers in funding Ola, India's leading online taxi aggregator, said on Wednesday it had raised $500 million via Series F funding, reports fe bureau in Bengaluru. IBM and Dell haven't had a new idea in 30 years, says billionaire investor Vinod Khosla Vinod Khosla, former Sun Microsystems founder, was instrumental in the rise of what we now think of as the computer server. Dept. of Information and Technology plans dedicated portal to support innovative ideas Under the scheme innovators can register themselves on the portal, and could then avail themselves of help, including funding Global handset makers like Samsung, Xiaomi looking to sell directly to consumers : Will set up own ecommerce platforms Global handset makers Samsung Electronics, Xiaomi, OnePlus, Lenovo-Motorola and others may soon be able to sell directly to customers in India through their own ecommerce platforms. Target India mentors startups in retail-aligned sectors : Completes third batch of start-up accelerator programme Start-ups which underwent the accelerator programme include Findmeashoe.com, BugClipper, TimeFlex, House of Blue Beans, Discover Dollar analytics TradeBriefs Publications are read by over 10,00,000 Industry Executives India Business Brief | India Retail News | India Food Brief | India Telecom Brief | India Finance Brief | India Software Brief | India Digital Brief | India Ecommerce Brief | India Franchise Brief | India HR Brief | India Logistics Brief | India Construction Brief About Us  |  Advertise Privacy Policy    Unsubscribe You are receiving this mail because of your subscription with TradeBriefs. Our mailing address is GF 25/39, West Patel Nagar, New Delhi 110008, India