May 16, 2016 - Rewiring India to succeed in the global digital economy

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Sree Vijaykumar From the Editor's Desk This article is an eye-opener on extreme poverty in the US. There are over a million American families that earn less than $2 a day. They have little to no cash income and survive on food stamps, private charity and plasma sales (which leaves them physically debilitated). They are not on drugs or mentally challenged, just families where members have been left out of the capitalist success that many others enjoy. Many are uneducated and are at the back of the low-wage job queue, some jobs that render them unfit through physical hardship, creating a vicious cycle of sorts - Comment Rewiring India to succeed in the global digital economy Till a few years ago, the west perceived India as a land deeply entrenched in its customs and traditions. SELL 24X7 on ShopClues Grow your Business with ShopClues. Join Us & Sell to over 2 Crore Customers.   Amid digital focus, HDFC Bank, Yes Bank and others may add 1,500 branches Four large private lenders may add about 1,500 branches between them, growing their physical presence by a tenth this fiscal. Exceptional income will be used for provisioning: PS Jayakumar, Bank of Baroda "When we re-evaluated the situation we felt that additional provisions were necessary. Analysts reports that have come subsequent to Q3 have talked of adjusted book value." Raymond Limited to sell 20% in branded apparel, in talks with overseas private equity funds Raymond has been in textile manufacturing and retailing business since 1925 but despite being one of the early entrants in branded apparel retail. RBI's relaxation of rules may broaden shareholder base for private banks Foreign institutions that hold 5% or less in private sector lenders have already started thinking about raising their stakes, said two executives with knowledge of the matter. How to kill a bank in India The story of IDBI Bank: from struggles to become a bank and competition from public-turned-private peers to calls for privatization and an identity crisis today No free ride for investing in India through quasi equity investments under India-Mauritius pact Those holding such instruments would do well to convert them into shares before April 1, 2017, to enjoy the exemption on capital gains tax. IL FS Transportation: is there a silver lining to the cloud of debt? What will work in favour of IL&FS Transportation is strong revenue traction as projects are due to get commissioned, easing cash flows over next 12 months Look at taxation of dividends when choosing debt funds Only those from equity funds are truly tax-exempt since they do not suffer dividend distribution tax Sebi planning to tighten listing norms Sebi plans to attach bank accounts and properties of promoters who repeatedly flout listing and disclosure norms and fail to take corrective steps Have enough minefields to deal with: Raghuram Rajan Reserve Bank of India governor Raghuram Rajan says a large number of experts are talking about Brexit and they will be able to reach a decision India needs to look beyond macro-economic orthodoxy The wait for a solid economic rebound has become too long. Some calculated risks may not be a bad idea. As funding slows, start-ups turn to investment banks Most of the aggressive investors have either gone slow or have exited the market, prompting start-ups to reach a wider network of investors through bankers Investors must pay taxes on money earned in India: FM India had in August 1982 signed the treaty with Mauritius to eliminate double taxation of income and capital gains to encourage mutual trade and investment. Major foreign investors like JPMorgan, HSBC, Goldman okay with Sebi proposal for tightening P-Note rules As part of an analysis conducted by Sebi Cayman Islands is followed by Mauritius as the second-biggest location for end-beneficial owners of ODIs. BJP govt 'shrunk and sunk' Indian economy: Congress on Arun Jaitley's GST Bill remark Responding to Finance minister Arun Jaitley's remark that the BJP-led central government will put the Goods and Services Tax (GST) bill to vote in the Rajya Sabha in Monsoon Session of Parliament with or without Congress, the grand old party on Sunday alleged that the BJP government has 'shrunk and sunk' the Indian economy adding that India is possibly facing the greatest amount of economic distress. Investors are pulling billions from global stock market funds According to analysts at Jefferies, the investment bank, global equity funds "recorded their fifth consecutive weekly outflow, at a net $7.3 billion (£4.9 billion)." Sebi readies dividend distribution policy for top 500 firms The new regulatory framework will be applicable to the top 500 listed companies based on their market valuation initially and would be later expanded to others. Narendra Modi govt eases red tape but foreign firms still struggle Despite statements made by PM Modi and other senior Indian officials there has been limited progress in many key areas that make it challenging to do business in India, an industry group says IndoStar Capital Finance to focus on SME lending, eyes Rs 1,200-crore loan book The company entered SME sector in April 2015, with a focus on lending to businessmen and professionals like lawyers, architects, doctors and CAs. Arun Jaitley says investors making money must pay taxes Finance minister says a tax-incentivized route is no longer needed to attract FDI to a ‘strong enough’ Indian economy LIC's Gulf arm tops overseas chart, chips in with 80% income The Bahrain-headquartered LIC International is present in five Gulf Cooperation Council (GCC) countries of Bahrain, Dubai, Kuwait, Oman and Qatar. 'Brexit' can open up opportunities for India: Report According to the report, Brexit may actually strengthen India's position as a truncated EU may have to rework its negotiation strategy to gain market access. CCI clears Sanlam's stake buy in Shriram Group's insurance firms Clearing the deal, CCI said "the proposed combination is not likely to have an appreciable adverse effect on competition in India". Policymakers must think of ways to deal with bank failures, says Uday Kotak Policymakers must think of ways to deal with bank failures, says Uday Kotak - With the entry of many new players in different avatars, Uday Kotak thinks it is time for policymakers to ways to deal with bank failures. India Post goes high-tech, geo-tags post offices on Bhuvan Bhuvan, developed by Indian Space Research Organisation (ISRO), is providing visualisation services and earth observation data to users in public domain. Time to think of policy on dealing with bank failures: Uday Kotak The comments from Uday Kotak come at a time when 20 new payments banks and small finance banks are on their way to enter the system. Finance Ministry to soon set up panel on bad loans New Delhi, May 15 () In pursuance to the directions of the Supreme Court, the Finance Ministry will soon set up a panel to look into the issue of mounting bad loans and come out with the steps to deal with the problem. Arun Jaitley says govt to seek voting on GST if Congress doesn’t come around Arun Jaitley says the bill will be put to vote in next Parliament session even if Congress continues to oppose it Six PSU banks report Rs 7,000 crore loss as defaults mount The higher-than-expected inflation numbers dashed hopes of any further rate cut and the results dragged down share prices even further. A lot of midcap companies have surprised on earnings growth: Big Bull Jhunjhunwala "Once Indian cos get volume, you will be surprised at the growth in earnings . Wherever there is volume growth, there is a disproportionate growth in profits." Equities still offer very good deals in relationship to other asset classes: Dominic Johnson, CEO, Somerset Capital Management "We are just one-third of the away through the year and we have had incredible volatility between January and now." eBay eyes acquisitions to expand fashion and lifestyle categories eBay seems to have simply lost the plot and watching from the side lines while everybody is doing whatever they are doing. Snapdeal takes commission cut to push up falling sales in move to compete with Flipkart and Amazon The New Delhi-based company, in a fierce battle with Amazon and Flipkart for supremacy in the Indian ecommerce space, wants the sellers to pass on the benefits. Amazon to Expand Private-Label OfferingsFrom Food to Diapers Amazon.com in the coming weeks is set to roll out new lines of private-label brands that will include its first broad push into perishable foods, according to people familiar with the matter. Government may issue notification concerning mandatory hallmarking of gold, silvers items The days when you bought jewellery convinced of its purity only to learn later of its being below par on this front may come to an end after September. Amazon India's growth threatens to unsettle ecommerce firms like Flipkart and Snapdeal ET reported on April 28 that Amazon India was the only major online marketplace to register an increase in unit market share in March. AskMe Grocery targets Rs 1800 crore GMV by March AskMe Grocery has a presence in 38 cities (as on February, 2016) and plans to expand to 45 more cities including some tier-II towns, in the next 3-6 months. Mukesh Ambani's Reliance Jio Infocomm's LYF mobile: A whopping $1 billion brand? Mukesh Ambani's Reliance Jio Infocomm's LYF smartphone: A whopping $1 bn brand? : The LYF smartphones are available in the price range of Rs 4,799-19,499 per unit. But how big can it get, that is the question on many people's minds. Here is a peek at the potential E-commerce logistics startup Wow Express raises $2.2 mn Mumbai-based e-commerce logistics startup Wow Express, which is run by JMS Logistics and Express Pvt. Ltd, has raised Rs 15 crore (around $2.2 million) in a pre-Series A round of funding led by a group of unnamed US-based investors, it said in a statement. Existing investor Tamarind Family Private Trust, the investment trust of the Mansukhani Family which is a co-promoter of consumer electronics maker Onida, also participated in the round. The firm will use the funds for geographical expansion and technology enhancement. Reliance Jio Subsidiary Plans To Refurbish Mobile Handsets In India Reliance Jio subsidiary, Reliance Retail is finalizing plans to refurbish mobile handsets in India which would be sold in the overseas market After Pakistan, Afghanistan shows no interest in PM Narendra Modi's satellite project Sources said Bangladesh too is not very keen on satellite project as it is set for launch of its own geostationary communications satellite Bang Bandhu-1. MediaTek sees India contributing 10% of global shipments VoLTE (voice-over-LTE) handsets in the coming months in India. Cell towers keep bylaws off network The issue of illegal mobile towers is holding up the adoption of the new Unified Building Bylaws by the Delhi government and the municipal corporations. However, the union ministry of urban development (MoUD), which approved the bylaws and notified them in March, was amenable to changes being made in the rules to address the matter of lawful erection of mobile towers. 4G in India: Everything you need to know While 4G has been rolling out in India since 2012, the segment will see its largest expansion this year. Reliance Jio is set to debut its long-awaited service, while Airtel, Idea, and Vodafone are aggressively expanding into more cities. Here's what you need to know about the state of 4G in India. Beware: 'Indian phone scam' comes in waves, prevention better than cure Cybercrime Unit Inspector Timothy Zammit told The Malta Independent that prevention is better than cure when it comes to technical services scams, some of which were recently highlighted by 5 reasons why the internet still sucks Despite massive technological advances since the days of dial up, we’re still grappling with slow page response, timeouts, and networking delays. Why? 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