May 3, 2016 - ICICI Bank to auction Dunlop property in Mumbai

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Sree Vijaykumar From the Editor's Desk GiveDirectly, a charity that gives money directly to poor people in Kenya and Uganda, is launching a big new project: a basic income that guarantees a flow of cash to 6000 people in Kenya for the next 10 years or more. What's different about this project compared to similar efforts in Finland, Silicon Valley and Ontario is that entire villages (in a developing country) will get the amounts and they are guaranteed to get it over a long period of 10 years. Even within a year or two, consumption patterns and other behaviour will likely change in the villages getting the UBI, in large part because participants know the payments will continue for the foreseeable future. That will likely lead to planning and work shifts that wouldn't take place in a temporary trial. So far, it's gotten results. A randomized evaluation of the charity found that recipients ate more and experienced less hunger, invested in expensive but worthwhile assets like iron roofs and farm animals (and did not spend more on things like alcohol or tobacco), and reported higher psychological well-being. They were less hungry, richer, and all-around happier. - Comment ICICI Bank to auction Dunlop property in Mumbai The landmark property is set to go under the hammer this month as the lender has set May 16 as the deadline for receiving bids. Property Listing: Goyal Orchid Whitefield, Bangalore 1/2/3 BHK apartments, starting from Rs 35 Lacs.   Property Listing: Godrej Infinity, Keshav Nagar, Pune Luxury 2/3 BHK apartments, from Rs 38 Lacs - Rs 92 Lacs.   Some mutual funds disclose managers’ pay details Analysis shows some funds let only investors access data, others warn them against sharing the information Income from transfer of unlisted shares will be counted as capital gains The tax department is looking to reduce litigation and bring in a uniform approach to classification of income AIIB, ADB to finance $300 million highway project in Pakistan Asian Development Bank (ADB) President Takehiko Nakao today said strong GDP expansion in some of the countries, including India, is expected to push up Asia's economic growth rate to 5.7 per cent in 2016. Income from sale of unlisted equities to be treated as capital gains: CBDT The Narendra Modi led NDA government that promised predictability and certainty in the tax policy has already given out a clarification with regard to sale of listed shares. RBI clamps down on ‘working capital’ loans The Reserve Bank of India has told banks not to clear long-term credit in the garb of working capital loans of up to 10 years to stressed accounts DFJ's three-year old quest ends, sells nearly entire India portfolio to NewQuest Capital Partners Experts said such secondary sales are bound to increase as venture capital and private equity firms approaching ends of their typical 7-10-year investment cycles scramble to sell holdings. Government defers FDI approval to AgustaWestland in Indian joint venture Indian Rotorcraft, a joint venture of AgustaWestland and Tata Sons, had sought post-facto approval of the FIPB for increased FDI inflow of `19.64 crore RBI proposes increased margin requirements for some derivative segments RBI proposed such margin requirements be imposed on all non-centrally cleared derivatives, where at least one of the parties is a scheduled bank or an RBI-regulated entity Prescribez raises $145,000 from angel investor Ankush Mehta The funds will be deployed for product development and marketing, besides expanding to Mumbai in the next six months Shareholding and control disclosures must for past three years: Sebi Markets regulator Sebi today directed the acquirers to report compliance to shareholding and control norms for past three years. Building the truly digital Indian bank Rajul Jain - Evolution of payments ecosystem from cheques to e-wallets. Can the new generation payments bank really make a dent in the ecosystem? , , banking, Payment banks, nbfc, e-banking, payments Is Raghuram Rajan right or the GDP numbers wrong? The chart shows that asset quality has worsened continuously even as growth has picked up IDBI NPAs may go to a stressed asset fund For the past few months the finance ministry has been working on the plan to reduce its stake in IDBI Bank to under 50% in what is seen as a test case for other state-run lenders. Bad loans-ridden Indian banking sector good opportunity to grow: DBS Bank Bad loans-ridden Indian banking sector good opportunity to grow: DBS Bank - Capital constraints in various banks due to high bad assets provides DBS a competitive edge to grow in the Indian market, the Singaporean bank said. NPS may raise equity exposure to 75% PFRDA has proposed to up equity exposure of NPS and harmonise government and private investments in it Kishore Biyani steps down as Managing Director of Future Retail In the latest, Kishore Biyani, Future group chairman stepped down from the position of Managing Director of Future Retail. The decision is part of the realignment strategy of the group's business. Tata Starbucks announces five-day work schedule Tata Starbucks Private Limited on Monday announced five-day work schedule for its more than 1,200 employees working across its coffee outlets in the country. A techie's ready-to-cook food start-up is steaming Meenakshi’s The Green Peppers supplies batter and dry products Vegetable prices rise 20-25% as temperatures soar Vegetable prices tend to be on higher side during summers due to supply shortage KSS plans 500 stores under brand 'Bjewelz'; eyes Rs 6000 crore sales KSS Ltd has forayed into the jewellery retailing business under the franchise model and is looking to open 500 stores under brand 'Bjewelz' with a turnover of Rs 6,000 crore in three years. LeEco's Le 1s top-selling smartphone in online sales: Report Among 243 smartphones available online, the Rs 10,999 Le 1s was ranked the top selling device in February, the report from global market research firm IDC said. US Retailer Target eyes Indian start-ups for innovation “We need to find future growth opportunity and it can happen through a very systematic external engagement,” said Jamil Ghani, Senior Vice-President for strategy and innovation at Target in an intervi Top fashion brands take the online route to India Several high fashion brands are taking the online only route to enter India, taking advantage of the absence of regulations around selling through third party portals. Fashion brand Zara cuts prices by 10-12% Zara prices are 30% higher than H&M Is Grofers's Kolkata operations headed for a shutdown? Grofers' Kolkata operations headed for a shutdown? - Sources said Gurgaon-based e-grocer could go for more downsizing after closing shops in nine markets early this year. Time for change: demand for premium watches upwards of 10000 growing Bengaluru registers the maximum sale followed by Delhi, Mumbai India can save $50 billion if logistics costs are lowered: Study The government should create a uniform tax structure and do away with multiple checkpoints and documentation requirements which would lead to speedier delivery of cargo, the study said. ICRA sees call drops a result of lower capex post spectrum buy Slowdown in capex on network rollout following spectrum purchase and a simultaneous increase in demand for wireless Internet led to problems such as call drops and poor service quality, credit rating firm ICRA today said". Motorola Begins Teasing New Phone With Better Camera, Battery, Security, Performance A new Motorola phone is “coming soon,” according to Motorola India’s Twitter account. Within the past week, this specific account began teasing an upcoming phone that should have improved battery life, security/privacy, performance, and a “better” camera. We are mostly assuming that this is a new Moto G, likely the 4th gen model, after the phone … Mobile ordering is part of our long-term plan: Sumitro Ghosh SUMITRO GHOSH took charge as chief executive officer (CEO) of Tata Starbucks, the 50:50 joint venture of Tata Global Beverages and Seattle-based Starbucks Coffee Company, earlier this year.A Starbucks veteran who was born and brought up in the US, Bell Canada buys Manitoba Telecom for Can$3.9 billion Montreal, May 2, 2016 (AFP) -Telecommunications behemoth Bell Canada announced Monday the purchase of Manitoba Telecom Services -- one of the few remaining independent regional telecoms in the nation -- for Can$3.9 billion (US$3.1 billion). Telecom panel supports Trai decision on spectrum base price Favours auction of all available spectrum across frequencies at reserve prices suggested by the regulator, including that in the contentious 700 MHz. Idea 4G expands to 101 towns in Punjab With the expansion, the company now offers 4G service in 101 towns. In 22 out these 101 towns, Idea has also become the sole operator to provide 4G LT.. Why India could be on the verge of a mobile gaming boom Gaming is considered one of the pillars of the Internet economy along with e-commerce, but India hasn't achieved its full potential. But Reliance Jio might change it all. Digital, 4G revolution to drive growth of Indian eco: Axis Cap If the Indian government delivers on the reform processes, Indian markets will perform exceptionally well to touch new highs, says Dharmesh Mehta, MD & CEO of Axis Capital... DBS Bank launches mobile-only banking to get more customers in India Singapore-based DBS Bank has launched a mobile-only banking model in India expand its customer base. The bank will use technologies such as biometrics in Aadhaar for account opening and virtual assistants for customer support. DBS Bank will be deploying Digibank kiosks, at 500 Coffee Day Cafes t Samsung celebrates 'Make for India', sells mobile at Re 1 Started April 29, 2016, the ‘Make for India’ celebration is scheduled to go on till May 15, 2016. UPI: When banks turn mobile wallets The Unified Payments Interface will make transfer of funds and eshopping safe as well as hassle-free New benchmark: Tata Sons rolling out woman-centric policies including paid maternity leave of seven months For now, the policy has been unveiled only at Tata Sons, the holding company of the group with businesses ranging from salt to software. Flipkart taking companies to court over online advertisement dues ranging from Rs 90000 to crores Ecommerce major preparing cases against about '20 companies' to recover dues & has filed first case against Western Digital for recovery of over Rs 1 crore. E-grocers face uphill battle in India; PepperTap is the latest among a host of hyper-local start-ups that have decided to give up the fight PepperTap is the latest among a host of hyper-local start-ups that have decided to give up the fight Flipkart investor Accel to raise $500 million to fund Indian start-ups; fund expects to close by the year-end Accel, one of the most prolific venture investors in the country, is all set to raise $400-500 million India-focused fund. 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