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Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Sep 14,2016

Net profit of Future Enterprises rose 615.37% to Rs 315.48 crore in the quarter ended June 2016 as against Rs 44.10 crore during the previous quarter ended June 2015. Sales declined 67.64% to Rs 921.19 crore in the quarter ended June 2016 as against Rs 2846.84 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales921.192846.84-68
OPM %24.969.91-
PBDT295.07184.1360
PBT142.3249.92185
NP315.4844.10615

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Dispensing of fake currency notes through Automated Teller Machines (ATMs)
Mar 18,2017

There have been media reports regarding dispensation of Rs 2000 notes resembling a genuine note but bearing the legend n++Children Bank of Indian++ in place of n++Reserve Bank of Indian++ from Delhi, Meerut (Uttar Pradesh), Sitamarhi (Bihar) and a few other places.

State Bank of India (SBI) has reported one such case from its ATM in SangamVihar, New Delhi on 06.02.2017. One person, working with the cash replenishment agency and responsible for placing the cash in ATMs, has been arrested.

RBI vide Master Circular 01 July 2015 has issued instructions on n++Detection and Impounding of Counterfeit Notesn++.

To keep a check on circulation of fake currency, RBI has taken the following steps:

1. Incorporating new security features /new designs in the banknotes to stay ahead of the counterfeiters is an ongoing process. New security features were added to banknotes in all denominations during the year 2005-2006. Government of India, in consultation with RBI, has initiated the process for introduction of new security features in Indian banknotes.

2. RBI regularly conducts training programmes on detection of counterfeit notes for employees / officers of banks and other organisations handling large amount of cash. RBIs website provides information to the public on security features of banknotes. Posters on Know Your Banknotes are also displayed at bank branches. Regional Offices of RBI participate in various awareness programmes where the members of public are made aware of the features of Indian banknotes and ways to identify genuine Indian banknotes. Posters, leaflets, etc. are also distributed in such awareness programmes. The contents pertaining to awareness on Indian banknotes are available in www.paisaboltahai.rbi.org.in.

3. Instructions have been issued by RBI to banks that banknotes in denominations of Rs.100/- and above should be re-issued by banks over their counters or through ATMs only if these banknotes are duly checked for authenticity/genuineness and fitness by machines. The banks should re-align their cash management in such a manner so as to ensure that cash receipts in denomination of Rs.100 and above are not put into re-circulation without the notes being machine processed for authenticity. A directive in this regard under Section 35A of Banking Regulation Act, 1949 has also been issued to all scheduled banks. In order to obviate complaints regarding receipt of counterfeit notes through ATMs and to curb circulation of counterfeit notes, it is imperative for banks to put in place adequate safeguards/checks before loading ATMs with notes. Dispensation of counterfeit notes through the ATMs would be construed as an attempt to circulate the counterfeit notes by the bank concerned. The responsibility of ensuring the quality and genuineness of cash loaded at White Label ATMs is that of Sponsor Bank.

4. The process of reporting and detection of counterfeit notes, by banks, has also been rationalized in order to safeguard the interests of common man, coming across such counterfeit notes unknowingly and bringing in improvement in reporting. Under the revised procedure, all cases of detection of counterfeit notes at the bank branches / treasuries are required to be promptly reported to Police Authorities in the following manner:

(i) For cases of detection of counterfeit notes upto 4 pieces, in a single transaction, a consolidated report as per the format prescribed should be sent to the police authorities at the end of the month.

(ii) For cases of detection of counterfeit notes of 5 or more pieces, in a single transaction, FIRs should be lodged with the Nodal Police Station / Police Authorities as per jurisdiction.

5. In order to train bank staff engaged in cash handling on features of Indian banknotes, RBI has advised Indian Banks Association to ensure, in consultation with the banks, that all bank personnel handling cash are trained on features of genuine Indian bank notes with the objective to train all such personnel. RBI will also provide faculty support and training materials.

6. The banks have been advised by RBI that wherever counterfeit notes are detected but not impounded and reported, it will be construed as wilful involvement of the bank concerned in circulating counterfeit notes and may attract penal measures.

7. RBI has issued banknotes, in all denominations in Mahatma Gandhi Series - 2005, with a new numbering pattern. Now the numerals in both the number panels of these banknotes are in ascending size from left to right, while the first three alphanumeric characters (prefix) remain constant in size. Printing the numerals in ascending size is a visible security feature in the banknotes so that the general public can easily distinguish a counterfeit note from a genuine one.

8. Government of India in consultation with RBI has withdrawn legal tender character of banknotes in the denomination of Rs.500 and Rs.1000 issued till November 8, 2016, inter alia, to reduce the incidence of Fake Indian currency Notes. RBI has issued Rs.500 and Rs.2000 denomination banknotes in Mahatma Gandhi (New) Series. Details of the same are displayed on the RBI website for the general public. A mobile app has also been launched for creating awareness among the members of public.

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The existing customers of Subsidiary Banks will have access to SBI global network which has presence in all the time zones
Mar 18,2017

The Cabinet in its meeting on 15th February, 2017 has approved the proposal of acquisition of subsidiary banks of State Bank of India (SBI) i.e. State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore with State Bank of India. It shall come into effect on 1st April, 2017. The merger is aimed at economies of scale and operational efficiency leading to improved supervision process, compliance and productivity in addition to better risk management.

Detailed plans have been chalked out for re-organisation of SBI network including branches of the Associate Banks.

The aggregation of credit exposures by six entities and its oversight by one entity, post merger, imparts focus and helps in better management of the overall credit portfolio especially stressed assets.

Unified operations and efficiency improves productivity, customer service and profitability.

The existing customers of Subsidiary Banks will have access to SBI global network which has presence in all the time zones.

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A total of 3590 hospitals and 25,732 Dispensaries provide AYUSH medical treatment in the country
Mar 18,2017

A total of 3590 hospitals providing AYUSH medical treatment in the country were functional as on 01.04.2016. These include 2820 hospitals of Ayurveda, 256 of Unani, 273 Siddha hospitals, 7 of Yoga, 30 of Naturopathy and 203 homoeopathy hospitals. The number of AYUSH dispensaries in the country as on 01.04.2016 were 25,732. The number of AYUSH registered practitioners in the country as on 01.01.2016 were 7,71,468.

The Central Government, through Centrally Sponsored Scheme of National AYUSH Mission (NAM), extends support for promotion of AYUSH healthcare to the States/UTs for co-location of AYUSH facilities at Primary Health Centres (PHCs), Community Health Centres (CHCs) and District Hospitals (DHs) for development of infrastructure, purchase of equipment & furniture and supply of essential AYUSH medicines. NAM also extends support for development of AYUSH educational institution, Quality control of Ayurveda, Siddha, Unani & Homoeopathy (ASU & H) drugs and Medicinal Plants. Further, under National Health Mission (NHM), support is provided to States/UTs for strengthening their healthcare systems including for mainstreaming of AYUSH based on the requirements posed by the States/UTs in their Programme Implementation Plans (PIPs). These supports also include support for engagement of AYUSH doctors/paramedics in public health facilities.

The AYUSH Ministry has set up National Institutes and Research Centres in a few States which will be extended to other states gradually. Post Graduate courses in AYUSH medicine have been started in these National institutes to meet the demand for good quality professionals, the Minister explained. Shri Shripad Naik also said that the AYUSH Ministry is working with the Ministry of Health & Family Welfare to provide AYUSH Medicines at the 3000 Government medical stores across the country.

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Sunflag Iron & Steel Company to hold board meeting
Mar 18,2017

Sunflag Iron & Steel Company will hold a meeting of the Board of Directors of the Company on 27 March 2017, to review and consider the Sanction Letter for Financial Assistance received from the State Bank of India, IFB Branch, Mumbai and to note, consider, review and approve the recommendations of the Nomination and Remuneration Committee of the Company, amongst others.

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Sat Industries to hold board meeting
Mar 18,2017

Sat Industries will hold a meeting of the Board of Directors of the Company on 27 March 2017.

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Gravity (India) to hold board meeting
Mar 18,2017

Gravity (India) will hold a meeting of the Board of Directors of the Company on 30 March 2017, to take note and grant leave of absence, if any, t consider and approve minutes of the previous Board Meeting. and to consider and confirm the minutes of the previous Committee Meeting.

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Narendra Investments (Delhi) to hold board meeting
Mar 18,2017

Narendra Investments (Delhi) will hold a meeting of the Board of Directors of the Company on 5 April 2017, to approve the Audited Financial Results of the Company for the quarter and year ending 31st March, 2017 and to recommend a dividend, if any, for the financial year ending 31st March, 2017

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Five Universities identified by UGC for Yoga department and courses from academic year 2016-17
Mar 18,2017

There are 03 institutions under the Ministry of AYUSH, which are imparting education in Yoga and Naturopathy including Yoga and Naturopathy in the country :-

(a) Central Council for Research in Yoga & Naturopathy (CCRYN), 61-65, Institutional Area, Janakpuri, New Delhi - 110 058

(b) Morarji Desai National Institute of Yoga (MDNIY), 68, Ashok Road, New Delhi -110 001

(c) National Institute of Naturopathy (NIN), Bapu Bhavan, Tadiwala Road, Pune, Maharashtra - 411001

Further, University Grants Commission (UGC) identified the following Central Universities to start the Yoga Department and courses on Yoga from the academic session 2016-17:

a. Hemwati Nandan Bahuguna Garhwal University

b. Visva Bharati, Shantiniketan

c. Central University of Rajasthan

d. Central University of Kerala

e. Indira Gandhi National Tribal University

f. Manipur University

There are 08 OPDs run by CCRYN, which provide Yoga therapy to the patients. National Institute of Naturopathy is conducting a Naturopathy & Yoga OPD at its HQ office. Apart from this, they are also running a Sanatorium for HIV+ve persons as an IPD at Panchagani, Dist. Satara.

CCRYN is in the process of establishing Yoga and Naturopathy institutions in the country; which are as under :-

(1). Establishment of 02 Post Graduate Institutes of Yoga and Naturopathy Education and Research (PGIYNER) with 200 bedded Yoga and Naturopathy hospital at Jhajjar, Haryana and Nagmangala, Karnataka.

(2). Establishment of 5 CRIs in different States of the country along with 100 bedded indoor hospital facilities to carry out in depth research studies to establish the efficacy of Yoga and Naturopathy in various remedies.

The Ministry of AYUSH has approved a proposal to establish Naturopathy Hospital, Medical College, Research Unit and Gandhi Memorial at new site Kondhwa, Pune under NIN.

The Ministry has not made any assessment regarding the interest of people towards Naturopathy and Yoga. However, there is a general trend that there is an increase in the number of people registered for Yoga & Naturopathy during last three years. Further, the diseases like digestive disorders, respiratory disorders, skeleton muscular disorders, skin disorders, non-communicable diseases such as diabetes, hypertension, cardiovascular problems, etc. are treated through Naturopathy & Yoga.

National Curriculum Framework (NCF), National Council of Educational Research and Training (NCERT) 2005 recommended Yoga as an Integral Part of Health and Physical Education. Health and Physical Education is a compulsory subject from Class I to Class X and optional from Classes XI to XII. According to National Curriculum Framework 2005, n++the entire group Health and Physical Education and Yoga must be taken together as a comprehensive Health and Physical Education Curriculum, replacing the fragmentary approach current in schools today. As a core part of the curriculum, time allocated for games and for yoga must not be reduced or taken away under any circumstancesn++. Further, they have already developed integrated syllabi on Health and Physical Education from Class I to Class X. The syllabus is available on NCERT website www.ncert.nic.in. The content of Yoga has been included from Class VI onward. It also prepared separate syllabus on Yoga from Upper Primary to Secondary Stage.

NCERT has brought out the following two textual materials for Upper Primary (VI toVIII) and Secondary Stages (IX & X):

(i) Yoga: A Healthy Way of Living (Upper Primary stage) and

(ii) Yoga: A Healthy Way of Living (Secondary Stage)

NCERT organised Yoga Olympiad from school to National Level from 18 to 20 June, 2016.

Government has constituted a National Board for Promotion and Development of Yoga & Naturopathy (NBPDYN), which will also look into the standardization of education & practice of Yoga & Naturopathy.

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Future Lifesytle Fashions incorporates subsidiary - FLFL Lifestyle Brands
Mar 17,2017

Future Lifesytle Fashions has incorporated a subsidiary - FLFL Lifestyle Brands with effect from 17 March 2017.

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Sat Industries provides update on subsidiary - Sah Polymers
Mar 17,2017

Sat Industries announced that its subsidiary, Sah Polymers has been conferred with One Star Export House by Government of India.

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Praj Industries allots 211179 equity shares
Mar 17,2017

Praj Industries has allotted 211179 equity shares under ESOP 2005 on 17 March 2017.

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Mahabir Metallex renamed as SVP housing
Mar 17,2017

Mahabir Metallex has been renamed as SVP housing vide certificate dated 14 March 2017.

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Indian Hotels Co appoints CEO
Mar 17,2017

Indian Hotels Co announced that the Board of Directors of the Company approved the appointment of Giridhar Sanjeevi as the CEO of the Company with effect from 04 May 2017.

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Praj Industries allots 30,333 equity shares
Mar 17,2017

Praj Industries has allotted 30,333 equity shares Under ESOP 2011 on 17 March 2017.

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Inventure Growth & Securities announces change in directorate
Mar 17,2017

Inventure Growth & Securities announced that as the term of Nagji K. Rita as Chairman shall be over as on 31 March 2017, the board has appointed Kanji B. Rita Managing Director of the company as Chairman and Managing Director of the company with effect from 01 April 2017.

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