Mar 18, 2016 - Access Asset Managers, others to buy 25% stake in Alliance Insurance Brokers

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Sree Vijaykumar From the Editor's Desk This has been a good week. Parliament has passed 7 bills, including the Real Estate bill and the Aadhaar bill. Bills indicate intent, the action still has to happen on the ground. Action of the kind taken by Temsutula Imsong, who is cleaning up Varanasi, one ghat at a time. Temsutula is co-founder of Sakaar Sewa Samiti, a non-profit involved in rural development. It's people like her and her army of volunteers who are turning words into action, rather than the local government, which dumps the garbage across the river whenever a VIP arrives. The citizens of India are waking up to the consistent calls to action from the top, it's time the government machinery woke up too - Comment Access Asset Managers, others to buy 25% stake in Alliance Insurance Brokers Private equity firm Access Asset Managers and some other investors will put in Rs 55 crore to acquire 25% stake in Alliance Insurance Brokers. Wary of round tripping, lenders' loan recovery efforts hit a fresh hurdle Banks are encountering a new problem as they try to recover bad loans by selling defaulters' assets. Banks borrow record amount from RBI with aggravating cash shortage Banks borrowed Rs 2.5 lakh crore — the highest ever in a normal day of operation — under various Liquidity Adjustment Facility programmes. Sajjan Jindal-led JSW Energy set to acquire 1,000 MW power plant for Rs 6,000 crore Cash-crunch due to the downturn in steel prices and burgeoning debt have forced JSPL to shed assets. “As per company policy, we do not respond to speculations. Gaja Capital makes final close of Fund III at $240 million Mid-market private equity firm Gaja Capital has made the final close of its third fund - Gaja III - at $240 million, up from its earlier target of $225 million, at a time when uncertainty continues to dog fund raising efforts by domestic PE firms. Kingfisher House fails to get any bids at SBI auction A real estate adviser said the asking price for the headquarters of Vijay Mallya’s defunct Kingfisher Airlines was too high Cleaning up India's economic lifeline Most toilets in train coaches are a hole with a flushing system, so that the excreta falls straight on to the tracks, corroding them and spreading disease State Bank of India launches overseas education loan State Bank of India launches “SBI Global Ed-Vantage” an overseas education loan. The bank has long been a leader in fulfilling the aspirations of students who wish to pursue higher education in India and abroad. Being the largest Bank in the country, it is the first point of enquiry for students who get admissions to various courses and are in need of finance. A grim scenario for banks’ capital adequacy Bad loans that have not been provided for make up close to one-fifth of the net worth of Indian banks Heineken may take control of Vijay Mallya’s United Breweries A move against Mallya would likely be a prelude to Heineken raising its stake in the maker of Kingfisher beer to above 50% IFC raises Rs200 crore via 15-year Masala bonds This is the third Masala bond issuance by International Finance Corporation Can monetary policy increase inequality? Increase in money supply is likely to benefit those who are more connected to financial markets Raghuram Rajan’s traffic signal rules for global monetary policy After Raghuram Rajan’s ‘Dosanomics’ caught the fancy of commentators, it’s now his traffic signal rules for global monetary policy that are getting attention Mallya case: Sebi probing allegations of round-tripping of USL shares Sebi is looking into information shared by UK financial regulator about six accounts linked to Vijay Mallya Essar Steel struggling to execute plan to improve financial health Comprehensive plan chalked out in Nov to improve operations and financials remains a work in progress Private equity funds, textile companies vie for debt-ridden Alok Industries The potential suitors are believed to be more keen on individual assets than taking control of the listed Alok Industries. Branding efforts have enabled faster growth in a short span, says Radhika Piramal, MD, VIP Industries Ltd - Radhika Piramal, managing director, VIP Industries Ltd, hopes to retain market share in the organised luggage space with healthy sales growth of 15% and profits of about 33% till December quarter of fiscal 2016. In conversation with Ashish K Tiwari, she speaks about the company's brands, market positioning and growth plans. TASMAC shops will be relocated within a year, says government Statistics Ministry planning to include ecommerce in calculation of CPI A large chunk of the urban population is going online for necessities like groceries, apart from clothing & footwear, a trend thats not getting captured in the data set. Baba Ramdev's Patanjali leaves Ayurveda 'pioneers' like Baidyanath and Vicco behind Kolkata-based Baidyanath, which sells nearly 750 products, meanwhile, says it has no ambition to rival Patanjali, Dabur or Himalaya in the core FMCG segments. Close your eyes and invest in ecommerce companies: Amitabh Kant Traditional enterprises are being challenged by new-age ventures and the government will play the role of a facilitator in this age of disruption, says Niti Aayog CEO Xiaomi goes Apple way, seeks 30% local sourcing relaxation in retail application Apple India recently filed a revised application for opening its fully-owned outlets in India, foregoing the 30% sourcing norm. The application is being examined by the DIPP. FourthLion enters organised retail with 'WalkIn' at Coffee Day Naman Pugalia, CEO at FourthLion, said the startup is creating for brick-andmortar retail what Amazon and Flipkart have for online retail. Tillman Global looks for new partners as TPG may not back Reliance Communications's tower deal Sources said TPG's reluctance to agree to the higher valuation has led Ahuja, to reach out to others. Supreme Court asks Trai to reconsider call drop penalty on telcos The court’s observation came after tecos’ lawyer said that Trai itself in a technical paper had earlier acknowledged that indeterminable factors are responsible for call drops Facebook, Inc: Huge Potential in Asia-Pacific Facebook is adding users in Asia at a much faster rate than other parts of the world, an executive said, showing the recent controversy over the firm's free Internet service in India isn't deterring the social-networking giant's expansion. India to see highest rise in employment in 2016: Survey 83 per cent of Indian executives expect their companies to hire more and 52 per cent respondents expect employment to grow by over 10 per cent. Call drop menace continues, Telecom Minister to monitor quality Telecom Minister Ravi Shankar Prasad along with Telecom Secretary J S Deepak and BSNL CMD Anupam Shrivastava will conduct a drive test in Delhi to directly monitor call drops. Bharti snaps up Videocon's telecom biz for Rs 4428 cr India's largest telecom operator (by subcriber base) Bharti Airtel has acquired Videocon Telecom for Rs 4,428 crore... Idea, Videocon call off Rs 3310 crore spectrum deal Idea hangs up the call as Airtel enters Videocon’s spectrum - Bharti Airtel has entered into an agreement with Videocon Telecommunications on Thursday to buy spectrum in six circles for Rs 4,428 crore. Flipkart's 'mystery shopping' initiative uncovers 500 'fraud' sellers Flipkart has blacklisted 250 sellers on its platform after its ongoing ‘mystery shopping initiative found them to be selling substandard products. Flipkart arm Ekart ties up with Apollo Pharmacy for delivery and pickup services The unit is also launching a Fulfilled by Ekart (FBE) initiative to tap merchants selling goods on other etailers, which will be a big area of growth in future. ICICI Securities, Kotak Mahindra Cap exit from Infibeam's IPO As per Draft Red Herring Prospectus, Gujarat-based Infibeam plans to come out with public issue of equity shares worth up to Rs 450 crore. Why a start-up culture will drive India's digital disruption? The next big thing can come from anyone, anywhere, as long as individuals have the right environment and tools Blackstone to acquire HP's Enterprise stake worth $940million in India's MphasiS: sources Blackstone Group LP is nearing a deal to acquire HP Inc's controlling stake worth about $940 million in Indian IT outsourcing services provider MphasiS Ltd, according to three sources directly involved in the deal. SAP wants to tap India's booming start-up culture, says Bill McDermott In the near future, McDermott also sees the companys investment arm Sapphire Ventures investing "disproportionately" in India. Infosys bagging big deals with large clients like Deutsche Bank and Mercedes-Benz : Tries to get its mojo back Infosys bagged large deals from companies including Deutsche Bank, Mercedes-Benz and the Goods and Services Tax Network (GSTN) in India. Will mobile payments replace cash or credit cards by 2030? By the year 2030, mobile payments will be secure enough to replace cash and credit cards according to 70 percent of consumers. TCS tops the ranking in terms of customer satisfaction IT services major Tata Consultancy Services (TCS) today said it has been named the official technology partner of Virgin Money London Marathon for three years -- 2016, 2017 and 2018. 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