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The secret of business is to know something that nobody else knows. - Aristotle Onassis

New Delhi : Japan plans to double its investments in India in five years to over $35 billion, develop exclusive Japanese townships in the country and intensify cooperation in information technology, Japanese Minister of Economy, Trade and Industry Yoichi Miyazawa said here.Miyazawa and Commerce & Industry Minister Nirmala Sitharaman signed a five-point agenda for furthering trade and investment ties between the two countries and encouraging Asia-Pacific economic integration.

and investment development, further line with Prime Minister Narendra development and cooperation in Modi's vision of Make in India,” said information technology, enhancing Sitharaman at the briefing. India-cooperation in strategic sectors, and Japan bilateral trade in April-further concentrating on Asia-Pacific February 2014-15 was around $15

The agenda includes economic integration, Miyazawa said billion, with India's exports at $5 developing Japanese industrial at a press conference after signing the billion and imports at about $9.3 townships, promoting infrastructure agenda. “This (action agenda) is in billion.

Japan is the fourth largest investor in India with about $17.9 billion worth of investments currently. Doubling this in five years, as targeted, would increase Japanese investments to more than $35 billion and probably push the country up to the second or third place, after Mauritius and Singapore.

New Dehi : India will be the steel consumption for the first time lone bright spot for Chinese since 1981.steelmen trying to cut bloated "The China slowdown will give inventories as Asia's third-largest India an opportunity to emulate economy embarks on a once-in-a-China's progress over the last few generation urbanisation drive under decades and emerge as a major Prime Minister Narendra Modi. global steel player in its own right," Urban dwellers will double to more said analyst Manoj Mohta at CRISIL than 800 million by 2050, a scale of Research. As India urbanises and mass urbanisation only seen before in i n d u s t r a l i s a t i o n a d v a n c e s , China. Ahead of Modi's election last infrastructure investment will rise May, he vowed to construct 100 so-43% to about $472 billion over the called "smart" cities by 2022, an next five years compared with the five infrastructure project some estimate years before. w o u l d c o s t $ 1 t r i l l i o n .India's steel consumption grew 2.2% As India build new roads, office last year to 75.2 million tonne. b locks and c i t i e s , i t s s t ee l Demand may rise 6.2% this year and consumption growth will put the 7.3% in 2016, the World Steel country at the top of the list of the Association says. world's 10 biggest steel users this year In the fiscal year ended in March, steel and the next, according to the World imports jumped 71% to 9.3 million Steel Association.tonne, most of which were from Demand from China and the United China.States, the two largest consumers, is Cheap Chinese steel has forced some forecast to either fall or stay flat.Indian mills to cut prices and post Outside China, India is the best bet for losses in recent quarters. Chinese steel mills.Steel Authority of India , Tata Steel, The sector in China has been saddled JSW Steel, Essar Steel, Jindal Steel by excess capacity of around 300 and Power, Bhushan Steeland Visa million tonne, three times the annual Steel are planning to expand their output of Japan, the world's No.2 combined capacity by 9% in the fiscal producer after China. year started last month to compete The glut grew more pronounced last with low-cost imports.year as a slowing economy cut China's

New Delhi : The World Bank has said that India's economy seems to have turned the corner and outlook has improved significantly, but even then it projected the economy to expand by 7.5 per cent during the current financial year, quite lower than the Budget assumption of 8.5 per cent. However, the Bank pegged the economic growth rate to be 8 per cent by 2017-18, which is not up to the expectations of the government, but quite higher than International Monetary Fund's projections. The Bank waned against external headwinds which may come in the form of reversal of declining oil prices and normalisation of monetary policy in US. Besides, merchandise exports may face the uphill task vis-a-vis competitors. In its India Development Update, the Bank expected that India's economy grew 7.2 per cent for 2014-15, lower than official advance estimate of 7.4 per cent.

New Delhi : Tax authorities will soon notify the new Income Tax Return (ITR) forms to be used to give income details for financial year 2014-15 (which is also referred as assessment year 2015-16). A senior Finance Ministry official said changes in the earlier notified forms are being finalised and hopefully the “new forms will be out very soon.” However, he refused to share any details about the changes. It is believed that there could be some changes related with foreign travel and the norms on bank details could be simplified. The new ITR forms, especially ITR 1 (for salaried person who have no other income except interest income), seeks details about foreign travel and all bank accounts along with the balance as on March 31, 2015, besides other information. These measures are meant to track black money.

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Whether you think you can or whether you think you can’t, you’re right! – Henry Ford

he Nat iona l Democra t ic themselves subject to higher rates of Alliance (NDA) should have Ttaxation; yet others will have to learnt from the problems of the account suddenly for capital gains United Progressive Alliance (UPA) made years ago that may already after the 2012 Budget: it becomes have been disbursed to the funds' very difficult to sell an open-to-original investors. The undeniable business narrative when foreign whiff of retrospective taxation in this investors and companies are is impossible to evade. The confused or scared by the government's contention that this g o v e r n m e n t ' s t a x l a w a n d follows a judicial ruling on the administration. Unfortunately, the subject does not hold much water for government seems to have those affected, who believe that, squandered the goodwill that the after all, the government had ample change of dispensation from the UPA opportunity and ability to change or to the NDA had bought it - most clarify the law. recently by sending out letters to There is a simple and sensible way foreign institutional investors (FIIs) out that could be made applicable to suggesting that their capital gains not just foreign but also domestic needed to be taxed under the investors, and would go a long way minimum alternate tax, or MAT, towards solving this particular which has a tax rate of 20 per cent. problem as well as setting in place This came as a shock to many FIIs some trust that such nasty surprises and led to sentiment - already won't recur. And that is to set into vitiated by a couple of high-profile place a simple rule: no demands will tax demands - turning negative. This be sent out for income or gains that may have led to the fact that FIIs are may have escaped scrutiny for more likely to turn net sellers in debt on the than two years after that income was Indian markets, for the first time earned or those gains hit the books. s i n c e N o v e m b e r 2 0 1 3 .Currently, this is a ridiculous 16 The government has worked hard to years (after the assessment year) for do damage control. Instead of the income related to foreign assets! original Rs 40,000-crore claim, the This was another change made in the eventual notices sent out amounted "taxman's Budget" of 2012. Even to demands for unpaid tax of only domestic income can be subjected to around Rs 600 crore. And even some scrutiny by the taxman for up to six of those FIIs would be exempt if they years of earning that income. If the came from countries with tax tax department in general is so treaties, such as Mauritius or inefficient that it cannot act on issues Singapore. Those paying capital for so many years, then it is neither gains in their home countries may just nor sensible to force taxpayers in also be exempt. But the damage has, general to suffer the pangs of in many ways, been done. Even the uncertainty to make up for the lower tax demand, sent out to just 68 taxman's dilatory approach. This FIIs, will not cause the hundreds of period of scrutiny should be changed others to feel any more secure. Some to just two years after earning the funds, which entered the debt market income and the government will help on the promise of a concessional tax Ind ia recover i t s t a rn i shed rate when India's external account reputation.was weak, could now f ind

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Indore : Industries in Pithampur will bids,” Audyogik Kendra Vikas Nigam in May as the water level in the have to wait a bit longer for water (AKVN) Indore managing director reservoirs will come down,” supply from Narmada-Kshipra link Manish Singh said. Pithampur Audyogik Sangathan project, as the first round of bidding However, the industry is concerned president Gautam Kothari said.process for selection of project over the delay in the project. With the The Pithampur industrial area has a consultant has failed to bear fruit. onset of summer, the Pithampur demand of 18-20 MLD (million litres After a prolonged delay, the state a day) of water while the project will government in February this year had initially supply 30 MLD and will be finally initiated the process of scaled up to 60 MLD and then 90 building infrastructure for Narmada- MLD once the project becomes fully Kshipra link project to supply water to operational.Pithampur industrial area. The second phase will involve Water from this project will also be improving works of existing water supplied to nearby investment region supply system at Pithampur.being developed under the DMIC In September 2013, the DMIC Trust (Delhi-Mumbai Industrial Corridor) cleared the Pithampur water supply

industry is once again dependent on project. project to lay pipeline from Narmada-water tankers to meet its daily “The DPR (detailed project report) is Kshipra link. An earlier deadline of requirement as piped supply from ready. We had invited bids for completing the first phase of the government agency falls short of selecting a consultant for the project, project by March 31, 2016, has now demand.but no one qualified for the same. So been pushed back by a couple of “The problem will become more acute we will again come out with fresh years.

one-stop-solution for all start-up businesses,Indore : A start-up from Indore s omething to solve this problem,” said featured in the Silicon beach start-up Sarthak Moghe, the man behind the fair held in Melbourne, Australia entire idea of getworm.com.r e c e n t l y w h e r e i t r e c e i v e d But how will the website guarantee overwhelming response from the the flow of registrations? “Getworm visitors. Titled getworm.com, the works on a simple principle that early website is conceived and developed bird gets the worm. The website too is by three residents of the city namely named after this concept. We will give Sarthak Moghe, Aditya Moghe and the first adopters and people who Vinny Bhaskar and aims to link early register with us special perks and users to startup businesses and ensure schemes which nobody else will have. that both parties get benefitted by So the company will be a host to all the it.The website is an start-ups to come one-stop-solution and get their first for all start-up 1 0 0 0 o r 1 0 K businesses, said the r e g i s t r a t i o n s , ” team of the website explained Vinny developers. Bhaskar.“The idea was to Stating that the idea c a t e r t o t h e was a hit as every demands and needs s t a r t - u p f a c e s of start-ups which problem, Aditya are booming in the M o g h e a d d s , g l o b a l a n d “Around 75% of nationally market,” the startups die in said Aditya Moghe, one of the co- the first year of their commencement founders of the company. due to lack of proper traffic and Working on the simple dynamics of branding. We wanted good ideas to giving start-ups the right kind of be valued and sustained with registrations, traffics and walk-ins, branding and advertising for which the website has so far registered more no startup has money.”than 300 newly es tab l i shed The only startup from India to get businesses in its validation period. featured in the fair, the team of “It was so difficult at first to get the getworm.com would be sharing space users and adopters. It was then that the with an Australian company called idea struck us about developing Fosters in the fare.

Indore : Clean India show 2015 On this occasion Mr. Jairaman Nayar , Mr J P Nair, Managing Director of the which introduced new techniques of chairman, virtual info system said that Virtual Info System said that “show cleaning with new dimensions of “ Clean India Show 2015 was very organized at Indore is known for cleaning science concluded important for us . In this show launching for new products. In this . The show which was organized very Municipal officer of Indore and show more than 25 products were first time in central India by virtual Bhopal was present along with displayed first time. Info system Private Limited received industrialists of the state and praise In this show launching of equipment b e t t e r r e s p o n s e m o r e t h a n equipments of modern techniques to produce biogas from organic waste expectations of the organizers. displayed here. made by Melham Company and waste management technique and In this Show more than 25 products Beside this MP Tourism department composite solution machine, Bio assure to propose this technique for were launched first time and state of has also shown its interest in the show. toilets and cleaning proves to be Tejaswi Nayak, commissioner, IMC. art techniques of this show also There are some visitors attended show important. Bhopal Municipal Corporation was attracted civil body departments of the who always participated in every Biogas technique of the Melham is a very much impressed with the A new initiative was taken in the state. show. Quality visitors coming from modern technique to produce biogas equipments of modern technique and show to make avai lable the Success of the first show encouraged nearby also gave more importance to from the domestic and industrial waste disposal solutions displayed in continuous information to the state the organizers to organized next show the show. “According to Mr Nair due waste. In this technique there is no the show. She studied deeply the about science, technique and in which they promise to make to advance support from the state we need to sort wastage. Beside this solutions of various companies and equ ipmen t s o f the c l ean ing available more equipments and were able to made available better composite solution machine is a invited some companies to visit management. On the closing day of resources of more developed products from the previous show. technique which composite any waste Bhopal. On the inaugural day of the the show agreement was made to open techn iques fo r the c lean ing material within 24 hours. Launching show Mr Ajay Singh Naruka, a training institute at Indore. Institute arrangements of the state. of such few products was important Chairman of Indore Municipal named Institute of Cleaning Science

On the closing ceremony of the show for the show. Corporation is also praised solid and Management will open very soon.

Bhopal Municipal corporation shown interest

Training centre will be opened

Show was dedicated to launch new products

Encouraged for better products

Indore : A social worker, an entrepreneur and a loving wife -- Indore's Shruti Oza Khemlani is all these and much more now. She was crowned with the Mrs India International-2015 runners-up title during a star-lit programme in Atlanta, United States of America (USA). A perfect blend of beauty and talent, Shruti was handed over the prestigious title in a well contested finale. Director of an English training institute in the city, Shruti has been working vigorously for animal rights for several years. On this achievement Shruti says."This is a big achievement for me! It was really a tough competition. I feel really proud to have come this far in this contest and elated at winning the runners-up title."

• First show of Central India concluded • Industries shown deep interest along with

government departments

A business has to be involving, it has to be fun, and it has to exercise your creative instincts. – Richard Branson

I always carry with me a book to read.

My favorite sports are Cricket & Tennis. My favorite sportsmen are Garfield Sobers, Rahul Dravid & Sachin Tandulkar in Cricket & Pete Sampras & Roger Federer in Tennis.

My favorite books is 'Long Walk to Freedom' by Nelson Mandela.

My Mother is my Inspiration.

My favorite movies is "Mughal-E- Azam". My favorite actors are Amitabh Bachchan & Nutan.

My favorite holiday destinations is "Goa".

I love Indian Food, specially Dum Aloo & home made Paneer are my favorite food.

Sanjay JagdalePresident - Madhya Pradesh Cricket Association

Mumbai : Rajashree Birla, one of the announce the transfer of the promoters of the Aditya Birla group, company's cement division to Aditya joined the Century Textiles board as a Birla group's Ultratech. The Century promoter director. Textiles stock has shot up 35% The appointment, cleared by the merger reports.company's board, is significant Century Textiles also announced a net because Adi tya Bi r la g roup profit of Rs 11 crore in the March companies are increasing their stakes 2014 quarter against a loss of Rs 4.9 in Century Textiles to 50% from 45% crore in the same period last year.after conversion of a preferential offer For 2014-15, the company reported of shares issued to the promoters. Rs 7,559 crore of revenue and Rs 15 The appointment is seen as a crore of profit.

assets by 50 per cent and a merger precursor to the BK Birla group In an interview, Kumar Mangalam with Ultratech would be a win-win companies, Century Textiles and Birla denied plans to demerge d e a l f o r a l l s t a k e h o l d e r s . Kesoram Industries, synergising Century Textiles' cement division and Approval by the Competition operations with Aditya Birla group merge it with Ultratech. Commission of India for the deal companies. Birla, however, said Ultratech was might be needed in Maharashtra, The board position fell vacant after planning to increase its cement Karnataka and Madhya Pradesh.Sarala Birla, wife of BK Birla, died. capacity to 100 million tonnes from According to a plan prepared by Axis Kumar Mangalam Birla, chairman of 71 million tonnes. Century Textiles Capital, Century Textiles and the Aditya Birla group, Rajashree's has 12.8 million tonnes of cement Kesoram Industries could merge their son and BK Birla's grandson, chairs capacity while Kesoram Industries cement units with Ultratech in an all-board meetings at Century Textiles. h a s 7 . 2 5 m i l l i o n t o n n e s .stock transaction. Century Textiles' shares closed 5.24% In a note, global brokerage firm Credit The Birlas have not confirmed this down today at Rs 707 as investors Suisse said Ultratech could improve plan.were expecting the company to the profitability of BK Birla's cement

A h m d a b a d : State-run Oil and N a t u r a l G a s C o r p o r a t i o n ( O N G C ) i s planning to use its Tapti assets in the western offshore t o a d v a n c e production of gas and condensate f r o m i t s n e i g h b o u r i n g dropped to half or 14.2 billion cubic Daman field, under a Rs 5,219-crore feet (bcf) last financial year, even as plan. oil production slumped a little over 20 The assets comprise the Tapti gas per cent to 0.2 million barrels.processing platform, gas gathering ONGC will take over the Tapti Part-A stations and sub-sea pipelines. facilities, along with the abandonment ONGC holds 40% stake in the Panna- obligation; the joint venture will be Mukta and Tapti fields; Reliance responsible for the abandonment Industries (RIL) and BP hold 30 per obligation for Part-B facilities. The cent each. However, with the Tapti obligation includes dismantling the output declining rapidly, the three infrastructure set up for production.partners have decided to end the joint Panna-Mukta, 90 km northwest of venture (JV), the production sharing Mumbai, is primarily an oil-bearing contract for which expires in 2019. field. Its oil production was flat at 7.2 ONGC will take over the fields from million barrels, as gas production rose the other two. It will lay a small eight per cent to 70 bcf. The JV will pipeline from the Daman field to the continue to operate the Panna-Mukta Tapti process platform, connected by field, likely to be in operation till a 70-km pipeline to its facility at 2018-19. Tapti is primarily a gas-Hazira. Under a strategy to focus on bearing field, 160 km northwest of small and less difficult fields to fill the Mumbai. Its gas output is expected to production void due to delays in fall to zero by the end of the current development of large assets like KG- financial year. D5, ONGC is investing Rs 5,219 crore The Daman Development Project, in Daman. 100 km from the Daman coast, “There have been a few technical includes additional development of issues in the handing over and the the C-24 fields and monetisation of taking over of the facilities. The issues the B-12 marginal fields. The are now over and the process of taking company is likely to produce a over will begin July onwards. In cumulative 27.6 billion cubic metres Daman, we are developing seven of gas and five million cubic metres of wellhead platforms. Three of these condensate over two decades to 2035. will be ready to pump gas by July. These will be routed to the Hazira These will be connected to the Tapti facility through the Tapti processing Process Platform,” said a senior assets.ONGC executive. The Daman development plan, He added the first output of gas, 2.3 coming after the announcement of a million standard cubic metres a day Rs 5,813-crore Mumbai High South (mscmd) will start flowing from the Redevelopment Project (Phase-3) a three Daman platforms by July and few months earlier, signifies ONGC's the next four will start operating in aggressive investment push in the 2016, taking the production to 8.2 western offshore basin to turn around mscmd. output growth, which had grown only Gas production from the Tapti fields marginally in 2014-15.

New Delhi: The government released The BJP in its general its latest consolidated FDI policy election manifesto last which has retained previous UPA year had opposed foreign regime's decision allowing foreign investment in multi-brand retailers to open multi-brand stores r e t a i l s e c t o r . with 51 percent ownership. Facing The BJP in its general criticism on retail FDI issue, the election manifesto last govern sought to downplay the year had opposed foreign continuation of the policy permitting investment in multi-brand 51 percent FDI in the multi-brand retail sector. retail sector saying the BJP's stand The latest edition of the remains the same on the matter. annual FDI document also

c h a n g e s i n t h i s p o l i c y . incorporates all policy "Let's just be absolutely clear on that. changes effected over the past one It is a compendium ... if there has to be year in sectors like defence, insurance a one point reference compendium and railways. somewhere to know what is the FDI in The multi-brand retail was opened up any of these segments or ministries or for foreign direct investment, with a departments, you need a document "There has not been any change in the 51% capital in September 2012, when which speaks about it all in one place. policy on FDI in multi-brand retail... the Congress-led UPA government And that is exactly what we have done BJP won the election based on what it was in power. The BJP-led NDA from the Ministry to compile it," she had said in its (elelction) manifesto," government, which came to power in said.she said. May last year, has not made any

"I have not taken a new policy, I have not taken a new stand other than what my party had won its election on," Commerce and Industry Minister Nirmala Sitharaman told to reporters here.

In the early 1980s, a teenaged Adani mining to power generation. The buy 20 ships by 2020. Two came to Mumbai from Ahmedabad to group today mines the coal, transports are already sailing," dabble in the diamond business. "I it by rail or water using its own tracks, informs Adani.was given freedom by my family to jetty and vessels, and unloads it at its Realty is another pursue my ambitions," he says. The own port. focus area. The young Adani initially honed his skills "There is no other integrated power g r o u p i s as a diamond sorter while observing company in India," says Ravi implementing the how the trade was being carried out. Sharma, CEO of Adani Power. biggest integrated Soon he graduated to diamond In the oil and gas business, where he township project in trading. has entered the exploration and Ahmedabad spread In 1988, he started Adani Exports, a distribution of gas, Adani plans to over 60 acres. He also pa r tne r sh ip t r ad ing f i rm in scale up operations and also establish has plans for a private Ahmedabad dealing in agricultural forward linkages by setting up an a i r p o r t , w a t e r products, dye intermediates and LNG terminal and a gas pipeline management and plastic products, with a seed capital of network. "We will look at operating i s a l s o Rs 5 lakh. The business flourished, the oil and gas business overseas. That developing a and as the group expanded at a will cut down six to seven years of s p e c i a l scorching pace, Adani's family joined gestation period," says Atul Sathe, economic the business. CEO of Oil and Gas at Adani Group. zone near Rajesh, his 46-year-old brother is In ports, too, the group has big plans. M u n d r a today Managing Director of Adani Apart from the Mundra port, it is port. Enterprises and Adani Power. expanding its port presence in Goa, To pull off Nephew Pranav joined the family Hazira and Dahej. hisbusiness after completing his business a m b i t i o u s management from Boston University says B. Ravi, Chief Financial plans, Adani Adani scouts for professionals who resources. Adani's message to his and is MD of Adani Wilmer, the Officer. The group is also scouting for has realised the imperative of building are adept leaders even if they don't team today is simple: "We should be group's agri business. Son Karan is ports overseas, especially in Australia a core team of professionals to assist have domain knowledge. Adani, for the best in whatever we do." He plans now looking after ports and another where they have recently bought coal the family. Today, the group is fast instance, hired Sharma, a telecom to expand his core team to implement nephew will join the business soon. "It mines. moving from being largely family run professional, to head his group's his vision 2020 - achieving 200 helps to have family members as there Shipping was the missing component to being more professionally driven. power initiatives. million metric tonnes of cargo, 20,000 is better communication and in the group's businesses but all that All his businesses from power, port The first set of professionals who MW of power generation and 200 commitment is assured," says Adani. may change soon. The group today and oil and gas exploration to joined the group had a motley million metric tones of coal mining. His vision is to have an integrated has to charter between 60 and 70 ships a g r i c u l t u r e a r e m a n n e d b y background - f rom f inance , And given his track record, it is operation for his group - from coal for its trading operations. "We plan to professionals. commodity trading to human difficult not to take him seriously.

"We are looking at more ports on the eastern coast of India,"

F

its coal assets and Adani's assent was he is convinced about a project or an crucial. The call lasted just a few idea. minutes. The terse message to the Adani's business acumen has ensured caller: It was one of the a meteoric rise for his group over the largest deals for a coal mine by an past couple of decades. The corporate Indian group - Adani Enterprises paid journey of this college dropout has Rs 12,600 crore in cash and royalty for been nothing short of spectacular -

ive year back Gautam Shantilal the mine. But the Adani Group from a small-time diamond trader in Adani, the 48-year-old chairman founder never sat for the negotiations the eighties to running a Rs 3,000-

of Adani Group, was vacationing in nor met Linc Energy's negotiators. crore trading house by the turn of the London with his wife and two sons century to a Rs 28,000-crore when he received a call from one of conglomerate with interests in ports, his senior executives. The company says a top executive, mining, power generation, oil and gas was in the final stages of negotiations pointing out that Adani always exploration and distribution, and real with Australia-based Linc Energy for supports and trusts his core team once estate today.

"Go ahead."

"Gautambhai was very much in the loop, but never bothered to intervene,"

Adani GroupFounder

Wife

Son

Brother

Nephew

Main companies

: Gautam Shantilal Adani, 48

: Priti managesAdani Foundation

: Karan handles the ports business

: Rajesh oversees the tradingbusiness

: Pranav looks after the agri business

: Adani Enterprises, Adani Power, Adani Wilmer, and Mundra Port and SEZ

I correction doesn't happen exactly t's a cruel summer in the markets. according to the calendar month The "May effect", an annual always. For example in 2011, the phenomenon investors have come to major sell-off started and lasted till 25 dread, appears to be taking shape May (see table). It did not happen at again. Consider this. The market went Reliance IndustriesBSE -1.09 % all in 2014 thanks to the election on a correction course and the Sensex reported good numbers, IT majors results - a business - friendly shed 1,368 points over the next five like TCS, WiproBSE -0.31 %, HCL government was elected with a clear days. The Sensex fell by another 270 Tech, etc disappointed the market," majority. Instead of the normal points and hit a low of 27,400, before says K. Sandeep Nayak, ED & CEO, correction, the honeymoon took the bouncing back with a modest gain of C e n t r u m B r o k i n g . T h e market to new all-time highs. Now 214 points. The Nifty also recovered disappointment with weak numbers is that the market's honeymoon with the from a low of 8,300. more this time because the market had government is over, what is going to However, the pull-back was short- MAT retrospectively from the The fall in international commodities, factored in a possible turnaround with happen in 2015? lived and both the Sensex and Nifty inves tors who have already especially crude, was the main factor a stable government. "After a business The general expectation among lost 155 points and 31 points redeemed. This is like trying to that helped bring wholesale inflation friendly government came to power, experts is that the May effect will be respectively. collect additional fares from to negative levels. The recent pull-there were hopes that things will clearly visible this year because May and October can be tough for passengers after they have alighted back in crude prices may push it once improve in a year. As the recovery is several other negative factors are at stock investors (see chart). In fact, the from the bus," says Nayak. After again to the positive territory. Spike in still not strong, it is affecting work too. M a y w e a k n e s s i s a g l o b a l several days of market fall, the crude prices and a bad monsoon is sentiments," says Jigar Shah, CEO, First is the weak set of corporate phenomenon which has given birth to Income Tax Department clarified that something our economy can ill afford. KIM ENG Securities.numbers. "Though it is too early to the market adage, "Sell in May and go "FPIs covered under double taxation It will also force the RBI to delay rate Another factor triggering pain is the comment on the overall results, there away." avoidance agreement (DTAA) will be cuts. However, there is no reason to decision by the Income Tax are some disappointments. While Though called the May effect, the exempt from MAT". panic. Department to send minimum

The pull-back can be attributed to this. "Though the Nifty could dip below alternative tax (MAT) notices to However, it does not solve the 8,000 levels, value buyers will foreign portfolio investors (FPI). problems of FPIs coming from other emerge. Our Nifty target for According to sources, the department countries and the pressures on December is 9,540 and we are not has already issued MAT notices to markets will continue for some time changing that," says Shah. Long around 100 FPIs. In some cases, the due to this. term investors should try to make use subject matter dates back 7-8 years, a

of th is annual phenomenon.There are several other negative first in the last 23 years of FPI "It is difficult to say when the factors at play. The meteorological i n v e s t m e n t i n I n d i a . " T h i s turnaround will happen. However, the department has predicted below retrospective tax is causing a lot of long-term India story is intact and normal monsoon. Rain failure can anguish," says Shah. This also raises therefore, investors should use this as create problems like high food operational hurdles for the foreign an opportunity," says Nayak.inflation and reduced rural demand. funds. "These funds can't collect

May and October are traditionally harsh for investors

0.39%

3.84%

0.85%1.16%

0.24%

1.90%

3.12%2.76%

2.32%

-1.62%

0.96%

2.66%

Average monthly returns in % based on date of last 24 years.

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

The May effect does notalways show up in May

The May effect may not happen on an actual calendar month basis

2010 30April 26May

2011 21April 25May

2012 4April 5June

2013 10June 3September

2014 No May effect due to positive election results

YEAR FROM TO

People rarely buy what they need. They buy what they want. - Seth Godin

nly trust organizations you Oknow Refer to trusted sources to verify

Avoid pop-up ads or notification c h a r i t a b l e o r g a n i z a t i o n sm e s s a g e s o n w e b s i t e s

Beware of charity requests on email or social media

of the most powerful tools when it because you do not want to land on a designed to drop a malware on your charities), has also released a list of comes to moving people together fake website and hand over your bank system. verified charities who are collecting

It is safer to donate to well-known and towards a cause. So, you can expect account details to a scammer. contributions to assist Nepal relief w e l l - e s t a b l i s h e d c h a r i t a b l e posts on your timeline having pitiful efforts. For now, a convenient and organizations. Avoid newly created images and videos urging you to make Charity Navigator, Guidestar and the safe way to donate to Nepal startups. You might be approached by a donation by clicking on a link. You might also come across pop-up 'Better Business Bureaus Wise Giving earthquake relief is via Facebook. many non-profit groups. Do a little bit Before you proceed, verify the name ads on certain websites you visit, Alliance are websites that help you You must have received a notification of research on these groups before you of the organization or the website that asking for your help towards the run a quick background check on on your timeline about the same. proceed. has make this request. Run a Google Nepal earthquake relief. It is always charitable organizations. Also, the Here's hoping a speedy recovery for

search on it, enquire about it with your recommend to avoid clicking on such BBB Wise Giving Alliance (an all the folks in Nepal and people in friends or someone you know from pop-up windows, because it is highly association of charities that plays an India who were too affected by this

The social media has proved to be one Nepal itself. Doing this is important probable that these are fake or are important role in accrediting incident.

Nepal is slowly getting back the form of donations to help on its feet after the the affected people. A glaring devastating calamity that example is Facebook, which struck on April 25 2015. The has started a campaign urging earthquake was a monstrous users to come forward and 7.9 on the Richter scale. support the victims. So, if you According to various news too are thinking to make a sources, nearly 8 million donation to any charitable people were affected by the organization, ensure that your earthquake. And the death money goes into the right toll is close to 4,800 people. hands. It is highly probable In this grave hour of crisis, that scammers and cyber help from all over the world thugs will soon come up with came pouring in for the disaster-relief scams to trick people in Nepal. Many people. Hence, here are a few organizations have also key rules to follow and keep stepped up to raise funds in in mind before you donate.

The basics, merits and demerits about the latest talked about issue

The phrase 'net neutrality' has been in e-commerce giant Flipkart pulled out the news for some time and people are of talks to join Bharti's 'Zero' already debating its merits and platform.demerits. Here are a few basic things Why is it in the news?you need to know about the issue. Within 24 hours, the Telecom What's the concept? Regulatory Authority of India (Trai) Net neutrality implies that all internet- received more than 27,000 emails based sites and services should be through savetheinternet.in, calling for t reated equally, without any public consultation on the issue. An difference in terms of speed and cost online petition on change.org of access. It is based on the concept r e c e i v e d n e a r l y 1 5 0 , 0 0 0 that there are no specific rules, but endorsements to the idea that the internet service providers should government act against violation of follow the same principle. net neutrality for corporate interests.What's the issue with it? If both firms and users benefit from In January, telecom operators asked 'Zero', what is the problem?the govt to bring over-the-top (OTT) If web-based companies pay an players like Skype, WhatsApp and internet service provider (ISP) — for Viber under regulation, as these were example, if Facebook pays an ISP so making a dent in their revenues. that users can access the social Bharti Airtel came up with a plan to networking site for free — it will use charge separately for internet-based up more internet bandwidth, thereby voice calls provided by OTTplayers. curtailing access to other sites or There was huge public outcry in social information. This might lead to media against such charges. discrimination of sorts and go against After a month, the department of the concept of net neutrality.telecommunications formed a What would be the extreme?committee to examine the economic If every firm pays ISPs for faster or impact of implementing the net- easier accessibility — for corporate neutrality principle on the telecom interests — the idea of accessing any sector. In the first week of April, Airtel information on internet, whether launched 'Zero', a plan under which owned or published by an individual 150 start-ups would join a Bharti or a company, might slowly wane and Airtel platform where e-commerce certain web-based companies might and start-ups would pay Airtel so that monopolize the internet. users could access the internet for free Who are the supporters?Experts argued that 'Zero' went Many renowned individuals and against the principle of net neutrality websites have come in support of net that required all devices to be neutrality. Among others, the standardised and offered at the same controversial comedy group AIB price. Airtel said it was a baseless came out with a video to support net argument and the platform did not neutrality and garnered more than one differentiate among internet-based million views through viral sharing on sites or services Following the furore, social networking sites.

We generate fears while we sit. We over come them by action. Fear is natures way of warning us to get busy. - Dr. Henry Link

Benaulim : The Reserve Bank is Rajan added that the proposed IT the new payment banks which are planning to set up an information entity's precise structure has to be going to be IT-intensive as well as the technology wing to face the rising worked out, besides focusing on s m a l l f i n a n c e b a n k s . challenges coming from the cyber It can be noted that online frauds in the world, Governor Raghuram Rajan financial sector have been on the rise said here. explaining the rationale, and hundreds of gullible people have Rajan said the central board talked been defrauded by crooks, using their about the changing nature of stolen credit and debit card information technology and the need information. for monetary authority to keep abreast The cyber thieves have even been of it. using RBI logos to send out mails to

cheat customers. Last month, Rajan got an e-mail threat from the dreaded terror group Islamic

issues concerning systems such as State of the Levant and Iraq. the cyber security, supervising the nature Globally, millions of dollars fall prey

Governor said. of technical capabilities of our banks, to cyber crimes annually.

"The changes are so rapid that one of the directors said today we have banking which uses IT today, tomorrow it's going to become an IT company which does banking,"

New Delhi : The Airports Authority of India (AAI) has for the first time decided to make state governments equity partners in airport projects, in sync with the Narendra Modi government's focus on making states partners in growth. The state-owned airport operator has made an offer to the Uttar Pradesh government to become a partner in the proposed Kushinagar airport."The airport in Kushinagar will be only provided land to the AAI, which government also plans to divest stake developed by a Special Purpose builds and operates the airports. in the AAI, which clocked revenues Vehicle (SPV) with UP government Although the AAI has never of Rs 8,000 crore during 2013-14. Of as an equity partner. This will ensure partnered states, green-field airports this, over 20 per cent came from focused development for the airport developed in Hyderabad and providing Air Traffic Control and also the area," said a top AAI B e n g a l u r u t h r o u g h p r i v a t e services and Rs 1,800 crore from official, who did not want to be participation have the respective revenue share from Delhi and identified. Earlier, state governments state governments as partners. The Mumbai airports.

The first one gets the oyster the second gets the shell. - Andrew C

Warren Buffet, also known as the oracle of Omaha, is no stranger to the world of investing. There's a lot to learn from the most successful (and did we also mention, the richest) man in the world of investing.

Here are six lessons from Warren price you have to pay for the stock is Key takeaway: Don't try and time the Buffett that you can use to invest better. less than the intrinsic value of it. He market or buy into NFO mutual funds #1: “If you buy things you don't says, “Whether we're talking about because the NAV is low. Invest need, you will soon sell things you socks or stocks, I like buying quality whenever you have the money and need.” merchandise when it is marked down.” hold it for as long as possible.You can make more money not only by Key takeaway: Instead of trying to #4: Be loss-averseinvesting or taking up a second job, but time the market and extract every Majority of investor's measure also by resisting the temptation to go rupee profit you can possibly get out of performance solely based on return. out and just splurge. As the saying goes your investment, invest in assets that Buffett advices that you should not – a penny saved is a penny earned. will generate inflation-beating long strive to make every dollar a potential Key Takeaway: To be a successful term returns and hold on it for a long profit which involves too much risk. investor, you need to use due diligence. time (In buffet terms, forever). Instead you should be loss-averse.

over the long term since after-tax, the before making a choice.Spending wisely is not about being #3: “It's far better to buy a Preserving your capital should be your returns you get annualized are below #6: Limit what you borrowmiserly, but about being smart. Invest wonderful company at a fair price top goal. By avoiding losses you'll inflation rate. More is not always good- case in point, in assets that give you good returns than a fair company at a wonderful naturally be inclined towards #5: Be tax savvy loans and credit card debt.over the long term- one that helps you price.” investments with assured returns.Like all billionaires, Buffett too is tax With daily offers from ecommerce secure your financial future. Warren Buffet recommends investing As Warren Buffet puts it, “Rule #1, savvy. Be knowledgeable about tax companies, it might be tempting to buy #2: “Price is what you pay. Value is in undervalued stock with great never lose money. Rule #2, never laws and use them to your advantage. that latest mobile phone on an EMI. what you get.” potential and holding on to them forget Rule #1.”Before you invest, make sure you Considering the fact that the phone you Most of us know this- the money we forever. In-line with this philosophy The takeaway: While Buffet talks understand the tax implications of your bought for EMI (plus the processing pay for something and the value we get (which undoubtedly worked so well, about safety of capital, he's referring to investment. fee which is in-directly the interest you out of it, most of the time, does not and still continues to work), buying stock investing where you don't For e.g. while investing in Bank FDs pay for the EMI facility), and it loses its have a correlation. You could possibly shares of a wonderful company at a fair become greedy and go after too-good-might give you 9% returns, the interest value over time (most cases, the buy a posh apartment for 1 crore price is much better than buying a to-be-true stocks. Instead, you focus is actually taxable as per your tax- moment you buy it), it is best if you rupees. But staying in the apartment mediocre company at a cheap/bargain on stocks that are undervalued and are bracket. The real return, if you are in limit your borrowing.does not guarantee a high quality of price. of companies that you understand and the 30% tax-bracket, will fall to just a The takeaway: Borrow only when it's life- does it? Buffet notes that over the long term, has long-term potential.little above 6%. Now, that's below a b s o l u t e l y n e c e s s a r y. W h e n When it comes to investing, especially mediocre companies gives much lesser Many investors misunderstand this as inflation rate and you are effectively borrowing, make sure you understand the stock markets, the price of a stock is returns compared to wonderful a recommendation for investing only losing money the longer you invest in all the fees associated with it. mostly governed by market sentiments companies, so much so that the bargain in Bank FDs or equivalent assets which it. Sometimes, the real cost of bowing and not necessarily by the profitability price for which you bought the are mostly considered safe. Investing The takeaway: Understand the tax money will be hidden as miscellaneous or value of the company itself. Warren mediocre company stock does not in Bank FDs is almost always implications of your investment fully charges like processing fee.buffet suggests to buy stocks when the seem like a bargain anymore. guaranteed to be a losing proposition

Mumbai : Eminent banker KV t h e w o r l d ' s Kamath was on Monday (11 May) population.appointed as head of the $50 billion The bank will New Development Bank being set up start with an by the five emerging economies of initial paid-in-BRICS grouping. Kamath will have a capital of $50 five year term of the bank, which is billion with each likely to be operationalised within one BRICS country year, Finance Secretary Rajiv c o n t r i b u t i n g Mehrishi said.Kamath is the Chairman USD 10 billion. should be set as the target for its of the India's largest private sector After serving at ICICI for more than a inauguration. Modi had made this bank ICICI. decade, Kamath had moved to Asian remark at an informal meeting with Leaders of the emerging economies of Development Bank, Manila, in the Brazilian President Dilma Rousseff, Brazil, Russia, India, China and South Private Sector department in 1988. Russian President Vladimir Putin, Africa (BRICS) had last year reached His principal work experience at ADB Chinese President Xi Jinping and an agreement to establish the New was in various projects in China, India, South African President President Deve lopment Bank , wi th i t s Indonesia, Bangladesh and other Jacob Zuma on the sidelines of the G20 headquarters in Shanghai. As per the emerging nations. Making a strong summit at Brisbane (Australia) in agreement, India got the right to pitch for speeding up the creation of November. India's presidency will be nominate the first president. the BRICS development bank, Prime followed by Brazil and Russia who Kamath has been named the first Minister Narendra Modi had said last will have five years term each under an president of the NDB, Mehrishi said. year that India hopes to ratify the agreement reached after intense

agreement over the f inancial The BRICS nations account for nearly negotiations among the five country-institution by 2014-end, and 2016 $16 trillion in GDP and 40 per cent of grouping.

covered under the general norm, for exports, credit of up to 32 per cent of adjusted net bank credit (ANBC) or credit equivalent amount of off-balance sheet exposure, whichever is higher, will be eligible as part of the priority sector for foreign banks with fewer than 20 branches. For other banks, including Indian banks, the incremental export credit over the corresponding date of the preceding year will be reckoned up to two per cent of ANBC or credit equivalent amount of off-balance sheet exposure, whichever is higher.Banks have started disseminating information on the new lending norms, said R S Sachdeva, co-chairman, Punjab, PHD Mumbai : S C Ralhan, a Ludhiana bring small and medium enterprises Chamber of Commerce and Industry. exporter and president of the (SMEs) and export units under the The cost of credit to SMEs in most Federation of Indian Exports 'priority sector' is expected to open developing countries is five to seven Organisations, said that the RBI move, new avenues for SMEs. Medium-per cent, but in India it is 12-12.5 per together with the recent increase in the sized units were not included in cen t , exc lud ing the in te res t upper limit for investment in plant and priority sector lending earlier. The subvention, Ralhan said. machinery for medium-s ized definition of medium-sized units has

enterprises, will ensure that credit also been revised from investment in The slump in international demand flows to all manufacturers with plant and machinery of Rs 5 crore or has also meant that the payment period investment in plant and machinery of less, to Rs 10 crore or less, and this will for exporters has increased from three up to Rs 10 crore now. The help more firms to seek credit under to six months earlier, to six to nine modification of priority sector lending the priority sector norms. Ralhan said months now. This has added to the norms by the Reserve Bank of India to that while medium enterprises will be cost, he added.

There is a phrase “God help to he lost his leg in a train accident. But those who help themselves “ . he is so courageous that at time of his

This phrase is fit for actor and dancer accident he maintained his morale Pradeep of Rangroopiya Theater high and holds his chopped leg in his group, who not lost his morale even hand and went to hospital with the in the days of struggle and started his help of some friends. His strong way on the path of success. Recently belief is that no one can prevent he has completed his acting course consequences of his fate but such from Mumbai University and moved situation can be faced through ones forward to find his fate in the field of courage and vivacity. acting in films and TV. After long treatment at Jaipur foot Fact is that struggle knocked his door implanted and he use it like a prop since childhood. Economic condition and again started his journey to of his family is not so good therefore become an actor. he has started working in early age Now he can dance naturally with his while studying in college and artificial leg. His spiritedness, completed his graduation. training and experience in acting To fulfill his dream of acting he made him so capable that he left for joined a theater group and started his Mumbai to find his way in the field of journey in the field of acting but his acting. He is confident that his high destiny was against his way and was morale definitely provides him making hurdles in his path with s u c c e s s i n t h e w o r l d o f different ways. Some two year back entertainment.

Never interrupt your enemy when he is making a mistake. - Napoleon Bonaparte

Pune : Search engine giant Google is to schedule a photo shoot, after which helping small and medium enterprises the photographer creates a story for (SMEs) to enhance their online the SME.presence without creating a website or "In India we have more than 20 investing in a domain name. The Google-trusted agencies and in a city product uses Street View technology such as Pune, we have six agencies to let potential customers explore a helping business get Google Business businesses location through a 360- View for their stores. Globally, we degree virtual tour. have seen strong adoption of Business While Google doesn't disclose the View among restaurants, hotels, numbers of domestic SMEs using the cafes, bars, etc. In India, we have also product, Business View is present in seen retail stores, car showrooms and about 200 cities in India. Globally, day care centres using Business about 300,000 businesses across 30 View," said Ruhela.countries have adopted Business Consider the case of VV College of View. Engineering in Tamil Nadu. To draw The product was launched in India attention to their campus in a b o u t t w o y e a r s a g o . T i s a i y a n v i l a i , t h e c o l l e g e "Google Business View is a tool that management sought to increase their helps a business improve its online online/social media presence, as they presence. There are various ways to be felt newspaper ads were too costly and presence online - a website or an i n e f f e c t i v e . A l s o , t h e s e online maps platform. But a website advertisements didn't showcase the has several unanswered questions: it college campus and amenities won't tell you where the business is effectively to potential students.and how long it will take to reach that Business View's impact on the way outlet, etc. said Suren Ruhela, director the college is perceived is clear its and product manager, India Google Google+ Page impressions rose from Maps. 769 a month before the product was Ruhela says, being online is a more used to 3,062 a month after it, an comprehensive concept. To leverage i n c r e a s e o f 2 9 8 p e r c e n t .the true potential of the internet for a "Business View isn't a monetisation business, potential customers should tool for Google, as the business pays be able to search, locate, reach and directly to the agency for getting recommend the business with ease, he Business View for their outlet. Like adds. search, results on Google Maps show He says the process of creating a 360- businesses relevant to the information degree tour is simple. Google has a searched by users. Businesses can team of photographers, termed the also advertise through ads products Google-trusted agency. An SME has such as Adwords," said Ruhela.

Mumbai : “When SEBI asked consider other actions as well.” accessing the capital markets and companies to appoint women This, Sinha elaborated, includes “All taking on other directorship positions. directors, it was a very small initiative actions and powers that Parliament Other penalties were moving the towards board diversity. Despite this, has given to SEBI. company's scrip to the trade-to-trade almost a third of listed companies You have seen that when we segment, excluding the scrip from the have not met the deadline,” UK Sinha, introduced and implemented the F&O segment and initiating criminal chief of the capital market regulator, minimum public shareholding proceedings against the company.said at an investment conference at the requirements of 25 per cent, we went In the current schedule for non-BSE. “Why are corporates afraid to let for more severe punishment. I hope compliance, SEBI has asked stock women participate in running our exchanges to impose fines on companies?” he asked. companies that haven't appointed a Speaking later to BusinessLine, Sinha woman director. Companies that said “very few” companies have even didn't meet the deadline have to pay a now responded positively to the fine of Rs. 50,000. Companies penalties for non-compliance by complying between July 1 will and appointing a woman director, almost a September 30 will have to pay Rs. month past the deadline. 50,000 and Rs. 1,000 each day till the

date of compliance.Companies that fail to comply by

When asked if SEBI will consider that will not arise (here).” October 1 will have to pay Rs. more severe penalties than those In 2013, when promoters failed to 1,42,000 and Rs. 5,000 for each day of currently imposed, Sinha said, “Our comply with the minimum public non-compliance.response is very clear — we have shareholding requirement for their But these penalties should not have given (companies) some time. If they companies, SEBI froze the voting been necessary, Sinha said. “In some still don't comply within a certain rights and corporate benefits (such as European countries, law requires that time, then the penalty will increase. If dividends, bonus shares) of these a quarter of directors be women. Why they don't comply within the extended promoters. can't Indian companies do this time either, then SEBI will have to Promoters were also banned from voluntarily?”

“This is something about which I am not very happy.”

Mumbai : Indian cinema saw a Bollywood Hungama,Tamil film the and leads in opening weekend box different feat when latest releases of first weekend box office collection in office collection. But business figures father–daughter duo, Kamal Haasan the US of "Uttama Villain" is ?2.96 if "Uttama Villain" in India is still and Shruti Haasan, clashed at the box awaited as the film managed its Crore and Bollywood flick "Gabbar office. While Kamal's "Uttama release matinee show here.is Back" is in second position with Villain" faced glitches ahead of its Kamal Haasan's "Uttama Villain" weekend collection of ?1.31 Crore.release in India, Akshay Kumar- faced cancellation of shows as the It should also be noted that the Akshay Shruti Haasan's "Gabbar Is Back" had makers had to sort out financial issues Kumar–Shruti Haasan starrer was a smooth opening at the box office all with financiers in the last minute of being shown on more screens than over the word. release.Kamal Haasan's movie this weekend. At the overseas box office, "Uttama The star cast of "Uttama Villian", "Gabar is back" was shown in 107 Villain" made a grand opening and directed by Ramesh Aravind, also screens, whereas "Uttama Villain" in this is well reflected in the film i n c l u d e l a t e f i l m m a k e r K 98 screens. collection. Balachander, Andrea Jeremiah, Pooja This is a clear indication that Kamal In the US, father Kamal Haasan's flick Kumar, Urvashi, Jayaram, Parvathy Haasan's flick is a step ahead when it has surpassed daughter Shruti's Nair, Parvathi Menon, Nassar, MS comes to any other Indian release this "Gabbar Is Back" in terms of box Bhaskar, Chithra Lakshmanan, weekend in the US.office collection. A n a n t h M a h a d e v a n , a n d Meanwhile in India, "Gabbar is Back" According to popular film portal Shanmugarajan.is breaking record one after another

Cricket has a history that can be tsmplug.com we compiled the list of Banking and Coca Cola. He estimated placed back to the 16th century. highest paid cricket players in the marketing deals are worth $16.5

Early cricket had several names world. million. including stool-ball, club-ball, stob- Known as MS Dhoni, he is one of the One of the top cricketers in the world ball, and trap-ball. Early proof of the most successful and established Virender Sehwag is a right handed game can be traced back to Prince cricketers in the world. Dhoni is also batsman from Najafgarh, Delhi, India. Edward of England. the captain of the Indian National Sehwag holds various achievements Forward almost 6 centuries and the Cricket Team and plays for club teams including the 2008 Wisden Leading game is played on 6 continents and Jharkhand and Chennai Super Kings Cricketer in the World, according to has made the elite players mega His endorsement contracts with major The Time of India.million dollar celebrities. Super brands like Pepsi, Reebok, Gulf Oil A m o n g s t Vi r e n d e r S e h w a g s celebrities like Mick Jagger, Russell and Lays just to name a few add $23 achievements he holds the record of Crowe, and High Jackman are well million to his annual income. highest test score by an Indian at 319. known for their love of Cricket. Sachin Ramesh Tendulkar is Bombay, His efficiency led him to score 300 on Former Billionaire Sir Robert Allen India born batsman said by many to be only 278 balls. Sehwag was IPL Stanford created and funded the the greatest cricketer in the world League's Delhi Daredevils before Stanford 20/20 tournament in according to DNA India. resigning to focus on his batsman Antigua. The tournment was held in He currently plays for the India performance. Virender has over $4 the Antigua on Stanford property and National Team and the Marylebone million USD (248637804 Indian had a total purse of $20. C r i c k e t C l u b . H e h a s h u g e Rupee) in endorsements from various With some help from Forbes, endorsement deals from powerhouse companies including Fila, Hero Yahoo.in, Celebritynetworth.com, corporations such as Toshiba, RBS Honda, Royal Challenge

Las Vegas : Floyd Mayweather, Jr. vs. Manny Pacquiao, billed as The Fight of the Century, Battle for Greatness or Legacy, was a professional boxing match between the eight-division w o r l d c h a m p i o n M a n n y Pacquiaoand ndefeated, five-division world champion Floyd Mayweather, Jr. The fight took place at the MGM Grand Garden

major issues that have prevented the Arena in Las Vegas, Nevada. fight from happening in the past D e s p i t e p r e d i c t i o n s t h a t resolved, including purse split, drug Mayweather–Pacquiao would be the testing, and location. highest grossing fight in history as Mayweather confirmed via a selfie early as 2009, disagreements app Shots that he had indeed signed between the two professional boxers' the fight, as Pacquiao had already camps on terms for the fight signed the contract of the fight prevented the bout from coming to previously and the contract itself was fruition until 2015. with Mayweather on that day. The fa i lu re to a r range the The contest was agreed to be held. Mayweather–Pacquiao fight was Mayweather won the contest by named The Ringmagazine Event of unanimous decision, with two judges the Year for 2010. scoring it 116–112 and the other By 2015 negotiations for the fight 118–110. had been finalized, with all of the

Floyd Mayweather, Jr. vs. Manny Pacquiao

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New Delhi : As many as 21 banks The NPA generated by these including four public sector players borrowers are to the tune of Rs have reduced their base rate or the 36,123 crore. Of this, he said, banks minimum lending rate in the range have written off loans worth Rs of 0.1-0.5%, following consecutive 8,102 crore of 5 borrowers.rate cuts by RBI, Parliament was "The available borrower-specific informed. credit information on all borrowers Reserve Bank of India had cut the (including NPA, if any) is received repo rate by 0.25% 15 and further by from banks by RBI under a 0.25%. fiduciary capacity and is prohibited "Following the reduction in the from disclosure under section policy rate, out of 91 scheduled 45(E) of the RBI Act 1934," he said.commercial banks, 21 banks (4 To improve asset quality of banks public sector banks, 6 private sector and to prevent slippages, Sinha said banks and 11 foreign banks) reduced that "RBI has issued instructions to their base rates in the range of 0.1- the banks to review slippages in 0.5%." asset classification in the borrowal Minister of State for Finance Jayant accounts with outstanding Rs 5 crore Sinha said in written reply in the and above by the board of the bank Rajya Sabha. Accordingly, he said, and review NPA accounts which the weighted average lending rates have registered recoveries of Rs 1 on fresh rupee loans sanctioned by crore and above". banks for housing and vehicle loans Replying to another question, Sinha have also come down in the range of said that so far more than Rs 1,090 8.53 basis points during the same crore has been collected under Kisan period. Vikas Patra. KVP, a popular In a separate reply, he said, banks instrument among small savers, has have written one-fourth of the bad been re-introduced, he said, adding loan above Rs 1,000 crore. that it doubles in 100 months and has As many as 24 borrowers, with loans facility of premature encashment to over Rs 1,000 crore, defaulted. provide liquidity to the subscriber.

Kolkata : Prime Minister The big-bang launching were present in different venues for is for the people in the unorganised N a r e n d r a M o d i ceremony was held in 115 the nation-wide launch. A total of 101 sector who are outside a formal announced in Kolkata locations simultaneously banks including regional rural banks pension net so far. that about five crore five across the country. Sixty and cooperative banks are going to The pension scheme would allow lakh people have enrolled c e n t r a l g o v e r n m e n t sell these insurance products to their subscribers of age 18 to 40. The themselves in the three ministers customers. government has promised to co-new national social The schemes -- two insurance contribute 50% of total contribution security schemes in the products and one pension product -- or Rs 1000 per annum whichever is week before the official are targeted especially to the lower, for the first five years. launch on this month . unorganised sector and economically Subscribers without any social

weaker population but others can security and who don' pay income tax enrolled themselves as well . will get this added benefit. However, A massive 80% of the country's people have to enroll themselves population is still outside the before December 31, this year to get insurance coverage while the g o v e r n m e n t c o n t r i b u t i o n . government estimated that merely Under this scheme, subscriber will get 11% of the working population are guaranteed minimum pension from under pension net the age of 60.

The pension could be Rs 1000, Rs financial services 2000, Rs 3000, Rs 4000 or Rs 5000

secretary Hasmukh Adhia said. The per month, depending on the size of government has not decided on contribution. Aadhar number is not whether it will extend the schemes mandatory for joining the pension beyond August. Atal Pension Yojana scheme.

The life risk cover will get terminated after 55 years.

The insured will get Rs 1 lakh in case of partial permanent disability. Multiple bank account holders are eligible to join the schemes through any one of the savings accounts. The government has directed banks to sell the policies to all their account holders by May 31 but the deadline can be extended to August 31, this year.

. "We have kept the deadline short so The new life insurance plan -- the that people do not delay in taking the Pradhan Mantri Jeevan Jyoti Bima policy cover," Yojana will offer Rs 2 lakh cover at Rs 330 premium every year. Bank account holders in the age 18 to 50 years are eligible to take this facility.

Pradhan Mantri Suraksha Bima Yojana will offer a renewable one year accidental death cum disability cover of Rs 2 lakh at Rs 12 premium every year.

New Delhi: ease of doing business, the Cabinet approved amendments to the companies law that do away with a mandatory declaration by a firm before commencing business. The changes have also been cleared to fast-track the approval process for draft notifications aimed at granting exemptions from various provisions of the Companies Act. The amendments were approved at a meeting of Union Cabinet, chaired by Prime Minister Narendra Modi this morning

To improve the

, and are now part of the Companies (Amendment) Bill, 2014.The amendments include doing away with the requirement for filing a declaration by a company before commencement of business or exercising its borrowing powers.Besides, they will rationalize the p r o c e d u r e f o r l a y i n g d r a f t notifications granting exemptions to various classes of companies or modifying provisions of the Act in Parliament, in order to ensure speedier issue of final notifications, an official release said. These Official Amendments will address issues related to ease of doing business and put in place a speedier process for approval of draft notifications for providing exemptions etc from specific provisions of the Act to a class of companies, the Corporate A f f a i r s M i n i s t r y s a i d . T h e government has said it wants to improve India's position to top-50 in terms of ease of doing business, from 142nd currently, as per the latest World Bank report in this regard.A number of changes have already been proposed in the Companies Act in the recent months.