Apr 27, 2016 - Is a better dollar-rupee rate for small businessmen on cards?

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Sree Vijaykumar From the Editor's Desk Cafe bars are the grown-up versions of coffee shops. As the youth evolve, they are looking for experiences beyond your typical Cafe Coffee Day. Cafe bars like 'Social' or 'Mockingbird Cafe' fill this niche, with both better food and ambience. They also encourage you to hang out, with free wifi and other goodies. By keeping pricing reasonable, they attract a larger client base. All-day dining and a lounge experience at night keep them occupied longer hours, increasing revenue. While the cafe bar will not be as ubiquitous (higher set-up costs) as coffee shops, India might just be ready to see more of this new format - Comment Is a better dollar-rupee rate for small businessmen on cards? The central bank has asked commercial banks to disclose their dollar-rupee conversion rates for various kind of clients. Advt: SELL 24X7 on ShopClues Grow your Business with ShopClues. Join Us & Sell to over 2 Crore Customers.   Property Listing: Godrej Infinity, Keshav Nagar, Pune Luxury 2/3 BHK apartments, from Rs 38 Lacs - Rs 92 Lacs.   NPA clean-up should not become a witch-hunt It would have a counterproductive chilling effect on economic activity Do we need consolidation in Indian banking sector? In a panel discussion at the ‘Mint’ conclave in Bengaluru, CEOs and MDs of banks discuss the need for consolidation in the Indian banking sector Enam buys stake in Arré, Screwvala exits The deal marks the exit of serial entrepreneur Ronnie Screwvala who was part of the original founding team of Arré which includes B. Saikumar Sebi seeks external help to frame rules for high frequency trading In 2015-16, HFT orders as percentage of overall orders in cash equity are up to 94%; in 2011-12, they were at 65% Parag Milk to launch IPO on 4 May to raise Rs300 crore Parag Milk has priced the offer in a band of Rs220-227 per equity share; the three-day offering will close on 6 May Milkbasket raises $500,000 from EVC Ventures, others in seed funding Milkbasket plans to use the funds to expand its core team, enhance technology and strengthen logistics; also plans expanding consumer base 10 times David Cameron urges Tata to sell whole of its steel business Cameron says any sale of Tata remaining British assets would have to cover the whole of its steel business and be given sufficient time to take place Standard Chartered Q1 profit down but bank on a stronger wicket Standard Chartered's global profit before tax shrunk to $589 million in the three months ended March 2016 from $1.44 billion in March 2015 as income fell. RBI wants banks to hive off advice. Long shot, won’t work Your bank will continue to sell mutual funds and insurance products through its branches because these are seen as ‘distribution’ rather than ‘advice’, where the bank is acting as an agent of the mutual fund or insurance company 10 things to know about the new loan rate Banks are now giving loans based on a new benchmark—marginal cost of funds-based lending rate Govt to raise Rs2,700 crore from stake sale in NHPC Centre to sell an 11.36% stake in power producer, sets floor price at Rs21.75, 5.6% lower than Tuesday’s close Foreigners sell most India debt in a month as yield benefit ebbs Foreign holdings of Indian govt and corporate securities dropped by Rs1,590 crore on Monday, the most since 29 March DBS taps digital platform to grow retail banking operations DBS launched a “mobile-only bank” and said it aims to garner 5 million customers and a deposit base of Rs50,000 crore over the next five years Standard Chartered profit rebound lifts shares as loan losses slow CEO Bill Winters brought in a new management team and is seeking to restructure or exit $100 bn of risky assets to turn around the Asia-focused lender Vijay Mallya told to disclose foreign assets to banks Court also notes the submission of Vijay Mallya’s lawyer that his return to India is uncertain Alipay raises record $4.5 billion to fund global expansion Alipay is considering an initial public offering on the Shanghai stock exchange as early as this year SC asks Finance Ministry to explain NPAs recovery mechanism SC has also asked the Finance Ministry to inform as to what safeguards it is bringing in to curb bad debt. Experian India launches new fraud solution for banking and insurance Print Live Transerv raises $15 million in Series C funding from Micromax, others Transerv will utilise the funds towards accelerating business growth and investing in new product lines, including micro credit Mutual fund folios see a record 14% increase in fiscal 2016 The industry added 1.81 million folios in the March quarter, an increase of 3.95% from the preceding December quarter Poor asset quality of PSBs a risk to sovereign rating: Moody's Moody's Investors Service today cautioned that a prolonged worsening in asset quality at PSU banks is the main threat to India's sovereign credit profile. Poor asset quality of PSU banks a risk to India's sovereign rating: Moody's High corporate leverage poses systemic risks if adverse growth and financial conditions pressure borrowers' repayment capacity, Moody's said. Several IDBI Bank staff transferred, suspended Employees were quite vocal in their protests at town hall meetings across the country that were attended by IDBI Bank MD K P Kharat and other senior executives. Cairn India: waiting for higher crude oil prices News on the production front is not encouraging. Cairn India’s average daily working interest (share in various fields) production declined 5% year-on-year last quarter Special panel to take Up Xiaomi's case first for domestic sourcing relief Up to 49% FDI is allowed through the automatic route and above that with the approval of the Foreign Investment Promotion Board. IKEA battles trademark cases in courts ahead of India store launch Patanjali's turnover growth at 150%, Ramdev targets Rs 10000 crore revenue Patanjali's turnover growth at 150%, Ramdev targets Rs 10000 crore reve...Patanjali sells its products though about 5000 distributors, 10,000 health centers, 100 mega stores, besides through the retail market where it has tie ups with Fortune group and Reliance retail. It employs more than 15,000 people. Furniture major IKEA lacing a 'desi' touch to its global business model Gears up to open its first store in India Milk prices unlikely to increase in next two months The retail price of milk is unlikely to increase in the next two months as dairy companies are left with huge stocks of milk powder from last year and exports are unviable due to lower prices overseas. Snapdeal names former Hindustan Unilever senior executive Kanika Kalra as its VP eCommerce major Snapdeal today said it has appointed former HUL Brand Director Kanika Kalra as its Vice President (Marketing). Kalyan Jewellers to make foray in West Bengal The Camac Street showroom of Kalyan Jewellers will be housed in the heritage building and will be spread over 10,000 sq. feet. Rising input costs, falling production and tougher competition trigger consolidation in Dairy sector French diary giant Lactalis last month acquired the dairy business of Indore-based Anik Industries and announced plans to acquire few more smaller and attractive dairy businesses. Thrifty Indian startups eye local talent Gone are the days when bigger e-commerce players would hire vice presidents for Rs 1-1.5 crore plus stock options that would be worth another Rs 1 crore a year. Snapdeal to make it mandatory for logistics partners to integrate with its technology platform Snapdeal is building a plug-and-play online platform to facilitate integration and cut down dependence on manual procedures. 'Will rethink penalty if free calls given for every drop' Rohatgi said that the issue is that telecom companies never agree to any of the arrangements suggested to them by regulator for compensating consumers. Every Phone Sold in India Will Soon Have a Panic Button For Women's Safety Mobile phones in India must include a panic-button from the start of next year and satellite-based location technology from 2018, as officials try to make the nation safer for women. Airtel seeks telecom watchdog's permission before video content deal Trying to avoid any controversy on net neutrality, Bharti Airtel on Monday has written to the telecom regulator seeking its permission for a deal the company India's 4G newcomer Reliance Jio reveals takeup; plans to invest $9B Bharti Airtel, Idea Cellular and Reliance Communications are seen reporting flattish voice revenue and sluggish data volumes growth in the January-Mar.. What mobile operators have said about VoIP in the past India’s telecom regulator is soon expected to release a consultation paper on licensing of VoIP (voice over Internet protocol) services such as Skype, WhatsApp and Viber. In April 2015, major telecom companies expressed their desire for licensing of Internet services including VoIP and to come u Ericsson fails India patent bid for mobile altitude determination Swedish major Telefonaktiebolaget LM Ericsson (Ericsson), one of the world’s largest wireless telecom-equipment provider, has been denied an Indian patent for an 'invention' that defines altitude determination method in a cellular communication system. The Narendra Modi government is developing the mother of all apps—for 200 public services One app to do it all, one app to find them. Furniture maker Housefull International demandeds Rs 150 crore from Mebelkart for allegedly defaulting on payments and selling imitations Mumbai-based Housefull said it stopped selling its furniture on Mebelkart in February after the digital marketplace failed to clear dues of up to Rs 28 lakh. Why talk to only Flipkart, Amazon, Snapdeal? We need help too, online vendors tell PMO "We are not being called for discussion by your (government) agencies. But you are calling Bansals and Bahls of the world," said the petition. Always compliant with norms, will invest aggressively: Amazon India MD Amit Agarwal Amit Agarwal said his elevation is an indication of the momentum India has seen. Snapdeal names former Hindustan Unilever senior executive Kanika Kalra as its vice president for Marketing Snapdeal, the country's largest online marketplace, has named for Hindustan Unilever senior executive Kanika Kalra as its vice president for Marketing. Job portal Monster to use its database to crowd source funds for entrepreneurial ventures with an aim to further boost the startup ecosystem in the country The platform has more than 40,000 job seekers registered as well as 150 startups across sectors such as IT, FMCG, manufacturing and e-commerce among others. 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