Mar 22, 2016 - India should consider using unclaimed funds in banks: Sir Ronald Cohen

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Sree Vijaykumar From the Editor's Desk Helping others is a good thing. But can it lead to professional success? The short answer is yes; because of the power of relationships, motivation and learning. Sales people who value customer success over their own sales targets tend to lose out in the short run, but win in the longer term because of deeper relationships. Clients tend to return to you when they trust your suggestions. Helping others is motivating and can in itself help you improve your productivity. Helping out when no one else was available helped Kat Cole learn new aspects of the job and move from hostess to waitress to manager, to president of Cinnabon, a company that touched $1 billion in revenues last year. So, the next time someone asks you for help at work... - Comment India should consider using unclaimed funds in banks: Sir Ronald Cohen Sir Ronald Cohen, known as the rock star of social impact investing in the world, is on a whirlwind tour of India from March 17 to March 22 to promote a unified view of impact investment and to encourage policy change to help the $2-billion nascent industry in India. Education technology start-up Byju’s raises $75 million Funds to be used to grow product pipeline, launch in new markets, improve content delivery and build talent pool L Capital Asia will not commit more funds to existing Indian investments L Catterton, the combined entity after the L Capital-Catterton merger, will also look at categories like packaged consumer goods, fast food and consumer services How to improve governance in banks Provisions in India do not play an anti-cyclical role, leading to a sudden surge in uncovered NPAs Govt prepares bailout for steel sector Steel secretary Aruna Sundararajan says steel and finance ministries are working on a package for the steel sector that will be finalized in next two months Finance ministry, banks hold meeting on loan recovery One of the known problems with the Indian economy at present is the state of the state owned banks. They simply have too much bad debt on their books: too many loans out to people who are not repaying them, have little hope of repaying them and are most unlikely [...] Why firms trip up on their big change efforts Leaders end up overlooking obvious pitfalls when they fail to be inclusive or don’t listen to feedback India's Top 7 Early Stage VC Firms An analysis of India's most active VC firms, their investments and exits since their inception. Jindals may be set for a deal on Chhattisgarh power plant Sale of the 1,000 MW power plant to JSW Energy will help Jindal Steel and Power pare overall debt National Payments Corporation of India gets 1,000 banks on its network NACH is also helping the government to implement DBT schemes. It covers schemes like MNREGA, social security pension, old age pension, LPG subsidy. Ola acquires mobile payments firm Quarth Quarth, which runs a mobile payments app called X-Pay, is Ola’s second investment in the mobile payment space Godrej Properties raises $275 million Funds from investors led by Netherlands’ APG to be used for four-five projects in NCR, Pune, Mumbai and Bengaluru Raghuram Rajan calls for new global pact to deal with monetary policy issues If governments respond by enacting policies that divert growth from other countries, this tactic will foster instability elsewhere, says the RBI governor Big jewellers begin to register with excise authorities Leading names in jewellery industry — Orra, Reliance Retail and PCJ Jewellers — have come forward to register with the excise authorities. Food court at T2 Mumbai's first 24x7 eating-out option Hindustan Times Food court at T2 Mumbai's first 24x7 eating-out optionA food court coming up outside T2, Mumbai airport's newest terminal, could soon become the city's first 24x7 eat-out option. ... According to T2 retail development plan, the food court is likely to get five to six more branded outlets over the next six ... Aditya Birla Group firm launches fabrics brand Liva LIVA Jewellers divided on stir call off; shops closed in many parts Jewellers, bullion traders and artisans are organising 'dharna' at Chandni Chowk to intensify the agitation, he said. Popular Indian mobile wallet MobiKwik goes hyperlocal with 'Explore Nearby' MobiKwik is one of the leading independent mobile payments networks in India connecting 30 million users with 50,000 retailers. The latest update to their Android app has the company venturing into the hyperlocal space with the launch of ‘Explore Nearby’. The economic growth trajectory of India and China Depending on which perspective you choose, the decades since 1978 have been either the best of times or the worst of times for India and China Alibaba Group Holding Ltd (BABA) Records 3 Trillion Yuan Milestone Amid GMV Growth Concerns Alibaba Group Holding Ltd (NYSE:BABA) said today that its e-commerce sites had registered over RMB 3 trillion in transaction volume. Indian ride-hailing app Ola acquires mobile payment startup Qarth to expand Ola Money After launching a standalone app for Ola Money in November last year, Indian transportation app Ola has made an acquisition to double down on its mobile.. This is the cheapest Android Marshmallow phone in India The phone will be available exclusively on Snapdeal from March 21 onwards. Internet Censorship: Regulating India's Internet Content regulation on the Internet is at the forefront of discussion in India due to a build up of events over the past 12 months. Last August the Department .. Pepperfry hopes to report profit by the end of this year helped by sharp growth in home decor Online furniture and home decor store Pepperfry aims to be profitable by the end of this year joining a number of single category online retailers. Cookware brand Wonderchef looking to raise Rs 100 crore ($15 million) to expand its distribution network as well as beef up product line and marketing Founded in 2009 by Kapoor and former Sodexo Pass India managing director Ravi Saxena, the company sells premium kitchen appliances, cookware and bakeware. Flipkart Bans 250 Sellers Through its 'Mystery Shopping' Exercise As a part of the Mystery Shopping initiative, started last year, Flipkart has blacklisted nearly 250 sellers from its website. Apple's new iPhone faces challenge measuring up in China, India But in India and China, smartphones are often the main connection to the digital world, and a big screen is highly valued, analysts said. TCS plans to grab a larger digital share with robotics, 3D print prosthetics “Being digital involves demonstration. All you see here physically is just visualization of our digital solutions," N Chandrasekaran. Aditya Birla Group to build database of 1.2 lakh employee skillsets The Aditya Birla Group will build a database of skillsets of its 1.2 lakh employees, which, apart from their service history, will include expertise. Will India widen the ambit of ‘Google Tax’ on internet services firms? The committee, which included representatives from the government and the industry, has said that only payments of over Rs 1 lakh be covered by this levy. Microsoft India hosts Open Hack challenge for Azure To create specific solutions for issues related to women's safety, transport and other key areas on Azure cloud platform, Microsoft India has tied up with government of Telangana. Facebook to end support for BlackBerry OS 10 devices too Facebook revealed that it has decided to discontinue its essential API for BlackBerry and this it plans to do by the end of this year. Persistent Systems expects 15% growth from IBM Watson alliance : Will set up new subsidiaries Persistent Systems today said that the alliance with IBM Watson announced last week could add up to 15-20% to the companys revenue in FY17 over the FY16 base. Why Apple needs to gamble with a ‘budget’ smartphone? On September 10, 2013, Apple launched the iPhone 5c alongside the iPhone 5s. Over the next year, it was evident that the 5c wasn’t necessarily the direction Apple intended for the device. But soon, it was evident, users saw it as an alternative to the benchmark device by Apple. Ford plans to build smart cars using wearable technology Wearable technology is changing our lives in a number of ways. We have smartwatches, fitness bands and even smart clothes, which are equipped with sensors Ace shooter Abhinav Bindra sets up venture fund for startups, called Shooting Star “This is my first widespread and extensive business venture. A startup is very much like an athletes life... Theres no guarantee for success,” Bindra told ET. India moots 6-8% 'Google Tax' on digital companies CBDT suggests "Equalisation Levy" of 6-8% on B2B deals - It would also include right to use or download online music, online movies, online games and online software applications accessed or downloaded through internet. 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