My Application Form Status

Check the status of your application form with Angel Broking.
Arq - The Hyper Intelligent Investment Engine By Angel Broking
National Aviation University signs MoU with Bird Worldwide Flight Services (India) for training in Aviation and Aerospace sector
Jun 05,2017

The National Aviation University (NAU) signed an MoU with the Bird Worldwide Flight Services (India) Private Limited on 1st of June 2017, to develop professional aviation and aerospace education programmes and research for the benefit of the Indian civil aviation industry. Internships and campus placements for eligible students have been incorporated in the provisions.

The Ministry of Civil Aviation is encouraging industry participation in skills development in order to ensure employability of the persons being skilled on the one hand and sustainability of skill development programmes on the other. On the same day the National Skill Development Corporation (NSDC) and the Bird Education Society for Travel & Tourism also signed an MoU aimed at training, skilling and empowering more than 30,000 unemployed youth across various states, including North-East states, over the next six years.

The focus of the skill development programmes would be on quality of skilling which is aligned to the National Skill Qualification Framework (NSQF). Supportive measures are going on to ensure the creation and implementation of efficient and effective training modules as well as assessment and certification for skill development and placement of skilled and certified workforce in the job market. These include conducting Recognition of Prior Learning (RPL) training programmes across public and private civil aviation enterprises. It is also proposed to set up Centers of Excellence in different parts of the country in cooperation with NSDC and the Aerospace & Aviation Sector Skill Council (AASSC).

Powered by Capital Market - Live News

Government to implement Indias first Rural LED Street Lighting Project in Andhra Pradesh
Jun 05,2017

Government of India, through the Energy Efficiency Services Limited (EESL) under the Ministry of Power, would be retrofitting 10 lakh conventional street lights with LED lights in Gram Panchayats of 7 districts in Andhra Pradesh. This is the first project for rural LED street lighting in the country under the Government of Indias Street Lighting National Project (SLNP). In the first phase, the replacement will be undertaken in gram panchayats of the districts of Guntur, Prakasham, Nellore, Kurnool, Kadapa, Ananthapur and Chittoor. This replacement drive in rural areas will help the gram panchayats to cumulatively save approximately 147 million units of electricity annually and lead to reduction of 12 crore tonnes of CO2. The entire upfront capital cost of this project is being funded by French Development Agency Agence Frann++aise de Dn++veloppement (AFD). As part of the project, EESL would be carrying out the entire annual maintenance and warranty replacement in these gram panchayats for a period of 10 years. Earlier this year, Chief Minister of Andhra Pradesh, Shri N. Chandrababu Naidu, had stated that approximately 30 lakh conventional street lights across villages in the state would be replaced by LED street lights by 2018. Through the installation of 10 lakh LED street lights, EESL has assured the State government of approximately 59 percent savings in electricity, which translates to annual monetary savings of ₹88.2 crores. Andhra Pradesh was the first state to seek assistance from EESL to replace conventional street lighting with LED lighting in Visakhapatnam, after the cyclone Hudhud caused extensive damage to the then existing street lighting infrastructure. Ever since then, EESL has installed over 5,90,000 LED street lights in the State. These installations have led to an annual savings of over 7.8 crore kWh, translating into an annual reduction of over 65,000 tonnes of CO2. Nationally, over 23 lakh conventional street lights have been replaced by LED street lights in 21 States of India. As per the 18th Electric Power Survey of Central Electricity Authority (CEA), the estimated energy consumption in Indian public lighting sector is 8478 M KWh in 2012-13 and is constantly growing at a CAGR of 7 percent. Keeping in mind this growth rate, Prime Minister Shri Narendra Modi launched 100 cities National Programme on January 5, 2015 to convert conventional street and domestic lights with energy efficient LED lights. Under Street Light National Programme (SLNP), the government aims at replacement of 1.34 crore conventional street lights across the country.

Powered by Capital Market - Live News

Services activity grows at quicker pace amid stronger upturn in new work: Nikkei India Services PMI
Jun 05,2017

The Indian service sector recovered some recent lost ground, with a quicker rise in new business inflows boosting growth of both activity and employment during May. Input costs and output charges increased at softer rates that were broadly negligible in the context of historical PMI data. Meanwhile, business sentiment weakened on the back of growing concerns regarding competitive pressures.

Rising from 50.2 in April to 52.2 in May, the seasonally adjusted Nikkei India Services PMI Business Activity Index pointed to the fastest increase in output in the current four-month sequence of expansion. The headline number was, however, indicative of a moderate pace of growth that was below the series average (54.8).

Output at goods producers rose at a softer rate than in April, but one that outstripped that seen in the service economy. Across the combined private sector, activity growth accelerated. This was shown by the seasonally adjusted Nikkei India Composite PMI Output Index reaching a seven-month high of 52.5 in May (April: 51.3).

Supporting the pick-up in services activity growth was a quicker rise in new business inflows. Anecdotal evidence indicated that the increase in new work was a reflection of better underlying demand. The stronger upturn in services new work counterbalanced the slowdown in growth of manufacturing orders and new work across the private sector economy as a whole expanded at a faster pace than in April.

Service providers took on extra staff in May in order to cope with greater workloads. Although modest overall, the rate of jobs growth accelerated to the fastest in almost four years. Factory jobs, on the other hand, fell in the latest month.

Job creation at services firms also mirrored expectations of output growth, with panellists mentioning new offerings, business expansion plans, more marketing and favourable government policies as the key factors supporting positive sentiment regarding the 12-month outlook. That said, worries around an increasingly competitive environment weighed on confidence and optimism was at a three-month low. In contrast, goods producers were at their most upbeat since last November.

Input costs facing service providers continued to rise during May, which panellists associated with higher prices paid for fuel, freight and food. The rate of inflation was, however, negligible relative to the long-run series average. A similar pattern was seen for output prices, which showed a marginal and softer increase during May. Purchasing price inflation at manufacturers eased to an eight-month low, but output prices were raised at a faster pace than in April.

Outstanding business volumes at service providers rose further in May, taking the current sequence of continuous accumulation to one year. Despite being more pronounced than in April, the pace of increase in backlogs was moderate. According to those panellists reporting higher levels of work-in-hand, this occurred due to difficulties in obtaining payments from clients. The level of unfinished work held by manufacturing firms also expanded at a modest, though quicker, pace.

Commenting on the Indian Services PMI survey data, Pollyanna De Lima, economist at IHS Markit, and author of the report, said: The pick-up in service sector growth seen mid-way through the first quarter (FY) suggests that GDP could expand at a faster rate should growth momentum be maintained in June, though there are downside perils to this.

Despite accelerating from April, rates of increase in both services activity and new work are much weaker than typical for India. Moreover, business confidence fell as a reflection of firms concerns regarding competitive pressures and lacklustre demand.

Cracks also appeared in the manufacturing sector, which outperformed services despite expansion rates for production and order books easing since April. Worries that this period of uninspiring growth may continue for some time might prompt the RBI to lower the benchmark rate in order to support the economy.

Powered by Capital Market - Live News

NMCG Approves Projects Worth Rupee 1900 cr Hundred Percent Sewage Treatment for Haridwar, Rishikesh, Vrindavan, Varanasi, Allahabad and Delhi
Jun 05,2017

Giving another major push to Namai Gange programme National Mission for Clean Ganga (NMCG) has approved projects worth Rs 1,900 crore for the creation of sewage treatment infrastructure in Uttar Pradesh, Bihar and UT of Delhi. With approval of these projects hundred percent sewage treatment facility will be made available for Haridwar, Rishikesh, Vrindavan, Varanasi, Allahabad and NCT of Delhi. These projects were approved in the third meeting of the Executive Committee of NMCG.

A comprehensive project of interception, diversion and treatment of sewage in Naini, Phaphamau and Jhunsi sewerage zones of Allahabad at an estimated cost of Rs 767.59 crore has been approved. Apart from construction of a 42 MLD (million litres per day) Sewage Treatment Plant (STP) in Naini, the project also encompasses building up of eight sewage pumping stations among other works. None of the three zones have any sewerage schemes or any sanctioned STPs as yet. These approved projects along with the existing ones would take care of sewage management of the core city of Allahabad bounded by rivers Ganga and Yamuna. The projects would also arrest flowing waste water of 18 drains into the rivers to ensure pollution free water for bathing at Sangam during Ardh Kumbh mela 2019. With approval of these projects 100% sewage treatment capacity can be achieved in Allahabad.

Three projects of sewage treatment infrastructure were approved for Pahari sewage zone in Patna city of Bihar including construction of a 60 MLD STP and laying of sewerage lines at an estimated cost of about Rs 744 crore. With these approvals, Patna will now have a sewage treatment capacity of 200 MLD.

In the National Capital Territory of Delhi, construction of as many as seven prioritized STPs of total capacity of 94 MLD in Najafgarh area have been approved at an estimated cost of Rs 344.81 crore under Maily Se Nirmal Yamuna project that was initiated on the directions of National Green Tribunal (NGT). Najafgarh drain contributes around 70 per cent of the total discharge of the city into river Yamuna that includes a lot of untreated sewage. The locations where STPs have been approved are Tajpur Khurd (36 MLD), Jaffarpur Kalan (12 MLD), Khera Dabar (5 MLD), Hasanpur (12 MLD), Kakraula (12 MLD), Kair (5 MLD) and Tikri Kalan (12 MLD). With this, all planned projects in Delhi have been approved.

On afforestation front, an all-encompassing programme in five Ganga main stem States - Uttarakhand, Uttar Pradesh, Bihar, Jharkhand and West Bengal - at an estimated cost of Rs 61.5 crore has also been given a go-ahead. This would include sapling preparations in nurseries, soil work, plantation and care.

With this, NMCG has given go-ahead to projects worth more than Rs 4,100 crore during the last three months in the States of Uttarakhand, Uttar Pradesh, Bihar, Jharkhand and NCT of Delhi.

It may be recalled that Union Minister for Water Resources, River development and Ganga Rejuvenation Sushri Uma Bharti is currently on a three week Ganga Nirikshan Abhiyan from Gangasagar to Gangotri to personally monitor the progress of Namami Gange programme. The Minister has reached Narora in UP and will proceed to Haridwar today via Bhrigu Ashram and Najibabad.

Powered by Capital Market - Live News

NSDC signs MoU with BIRD ACADEMY for skilling of unemployed youth in the aviation and aerospace sector
Jun 05,2017

An MoU was signed between National Skill Development Corporation and Bird Academy on the 01 June 2017, with regards to skilling of unemployed youth in the aviation and aerospace Sector. With the signing of the MoU NSDC has agreed to enter into an arrangement with BIRD ACADEMY to train, skill & empower more than 30,000 unemployed youth across various states including North Eastern states with special focus to train and empower minimum 5,000 women & tribal youths from the underprivileged sections of the society and assist states in capacity building over the next six years.

The two organizations will work together to set up training centres and centre of excellence in India with the aim of increasing employability of youth aspiring to work in the aerospace and aviation sector under the guidance of Aerospace and Aviation sector skill council

BIRD Academy will:

n++ undertake fresh skilling for 30,000 youth in aviation and aerospace Sector, resulting in gainful employment over the next 6 years

n++ Undertake Recognition of Prior Learning for their direct and indirect employees covering approx. 5000 candidates

n++ Establish Model Centre and Centre of Excellence/Training Centres at Chandigarh, Delhi, Cochin, Bengaluru/Mumbai, Goa and other locations Pan India including North East focussed on Aviation and related trades

n++ Align all existing and upcoming trainings/centres to National Skills Qualification Framework(NSQF) under the guidance of AASSC

n++ Provide inputs on trends and requirements in Aviation & Aerospace industry for developing QP-NOS for job roles aligned to NSQF and assist in industry validation through group companies.

n++ Provide consultation and expertise on facilities set up, Curriculum design, content development and assist in addressing the gap that exist for training of trainers (ToT), training of Assessors (ToA), Certification of Master Trainers (CoMT) and existing trainings.

n++ Further BIRD Academy will apply for Non-funding/Funding Partnership to NSDC which shall be evaluated by NSDC as per its Financial Management and Procurement Manual and other applicable guidelines

Through this MoU, NSDC may

n++ Support in the development of Aviation and Aerospace Model Centre and BIRD ACADEMY Centre of Excellence/ Training Centres.

n++ NSDC through the Aviation & Aerospace Sector Skill council (AASSC) may provide support for joint mobilization to channelize students into these centres

n++ NSDC through the AASSC will facilitate NSQF alignment, provide quality assurance and certification through for trainings in these centres

n++ The data for trainings under NSQF will be uploaded on the SDMS for MIS and reporting and oversight; also NSDC may advise and guide Bird Academy to enhance its reach for skilling

n++ On behalf of NSDC, the AASSC will track the progress of the MoU and provide over sight of training delivery process

n++ NSDC may support the implementation of the project under schemes like PMKVY/PMKK and other existent schemes subject to respective scheme guidelines

Powered by Capital Market - Live News

$100 Million ADB Loan to Punjab National Bank to Finance Solar Rooftop Projects
Jun 05,2017

The Asian Development Bank (ADB) and the Punjab National Bank (PNB) signed a $100 million loan n++ to be guaranteed by the Government of India n++ that will finance large solar rooftop systems on industrial and commercial buildings throughout India. The PNB will use the ADB funds to make further loans to various developers and end users to install rooftop solar systems.

This is the first tranche loan of the $500 million multitranche finance facility Solar Rooftop Investment Program (SRIP) approved by ADB in 2016. The financing includes $330 million from ADBs ordinary capital resources and $170 million from the multidonor Clean Technology Fund (CTF) administered by ADB. The first tranche loan of $100 million would be financed entirely from the CTF.

n++With a sharp drop in the price of solar panels, India has a huge potential to expand its use of solar rooftop technologies,n++ said Kenichi Yokoyama, ADB Country Director in India who signed the loan on behalf of ADB. n++The program will contribute to the governments plans to increase solar power generation capacity and also help India meet the carbon emission reduction target in line with its commitment at the recent global climate change agreement.n++

Indias solar rooftop market is expanding fast with an estimated total capacity potential of 124 gigawatt (GW).

n++The project is suitably aligned with the goals of Government of India to increase the countrys solar rooftop capacity by 40 GW by 2022,n++ said Raj Kumar, Joint Secretary (Multilateral Institutions), Department of Economic Affairs in the Ministry of Finance, who signed the guarantee agreement for Government of India. The loan agreement was signed by H. K Parikh, General Manager, on behalf of PNB.

The entire Solar Rooftop Investment Program will cost $1 billion and the projects financed under the program will install solar rooftop system of around 1 GW capacity. This will contribute to the climate change goal of reducing greenhouse gas emissions by about 11 million tons of carbon dioxide equivalent over the typical 25-year lifetime of rooftop solar systems.

Powered by Capital Market - Live News

Seven MoUs/Agreements signed on the sidelines of the 18th India-Russia Annual Summit (June 02, 2017)
Jun 02,2017

List of MoUs/Agreements signed on the sidelines of the 18th India-Russia Annual Summit (June 02, 2017)

1. Protocol No.2 to the Agreement dated December 5, 2008 between the Government of the Republic of India and the Government of the Russian Federation

2. Agreement between Heavy Engineering Corporation Limited and Joint Stock Company Cascade - Technologiesn++ for setting up of a Special Purpose Vehicle for railways

3. Memorandum of Understanding between SREI Infrastructure Finance Limited and State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) on Russian export support and participation in the development of India-Russia capital goods financing/leasing business

4. Agreement on Cooperation between JITF Urban Infrastructure Services Limited (Republic of India), Jindal Rail Infrastructure Limited (Republic of India), Joint Stock Company Russian Export Centre (Russian Federation), and Limited Liability Company Management Company RailTransHolding (Russian Federation)

5. Memorandum of Understanding between National Investment Promotion Agency Invest India and the Business Council for Cooperation with India concerning the promotion of investment in India and Russia

6. Cooperation Agreement between National Investment Promotion Agency Invest India and the Roscongress Foundation

7. Memorandum of Understanding between Sun Group Private Limited and Joint Stock Company Pribor

Powered by Capital Market - Live News

India - EAEU FTA Negotiations to be Launched Soon: Secretary, DIPP
Jun 02,2017

The Government of India as well as the governments of the Eurasian Economic Union (EAEU) member countries have decided to launch negotiations for an India-EAEU free trade agreement (FTA) shortly, said Mr. Ramesh Abhishek, Secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry.

The Secretary observed that Indias trade with the EAEU Region is barely USD 8.4 billion and this is well below potential. It is for this reason that India and the EAEU had decided to set up a Joint Feasibility Study Group on the India - EAEU FTA at SPIEF in 2015. This report has since been finalized and accepted by the Government of India and governments of the individual EAEU countries following which negotiations on the FTA are to be launched.

He stated there was a need to promote connectivity between India and the EAEU region and the International North South Transport Corridor would be extremely critical for this purpose. Mr. Abhishek also highlighted the role being played by the n++Green Corridorn++ in promoting trade facilitation between India and Russia. He felt that this Corridor could be extended to the other EAEU countries in due course.

Ms. Veronika Nikishina, Minister for Trade, Eurasian Economic Commission, stated that the EAEU has so far only concluded one FTA with Vietnam and India would be the second. This demonstrates the importance being placed on India by the EAEU.

Ms. Shobana Kamineni, President, CII, noted that a strong FTA between India and the EAEU will help strengthen the India - EAEU strategic Partnership.

Mr. Chandrajit Banerjee, Director General, CII, stated that the potential India EAEU FTA is just one part of the strategic partnership. It will provide a foundation for further deepening of ties between India and members of the EAEU.

The opportunities would open up in areas such as infrastructure development, energy, pharmaceuticals, banking and finance, IT and transportation among others.

Powered by Capital Market - Live News

Soil Health Card helps in increasing the productivity and reduced the cost of production 93% samples for Soil Health Card tested so far
Jun 02,2017

Soil Health Card, a revolutionary scheme, was initiated for farmers and it has made a huge difference to farming and farm produce. It has helped in increasing the productivity and reduced the cost of production. Honble Prime Minister Shri Narendra Modi had inaugurated the scheme on February 19, 2015, in Suratgarh, Rajasthan. Soil Health Card provides information to farmers on nutrient status of their soil along with recommendations on appropriate dosage of nutrients for improving soil health and its fertility. This also gives farmers information about the nature of the soil. And post recommendations, the farmers use fertilisers and other chemicals accordingly.

This reduces cost and increases production. In the first two-year (2015-17) of the Soil Health Card scheme, 2.53 million samples were collected and so far 93 percent samples have been tested. About 14 crore Soil Health Cards are being created by the State Governments and till May 31 it has been distributed among 8 crore farmers. In the next three months, the rest of the farmers will receive their Soil Health Cards. So far, the country has yielded positive results from Soil Health Card.

The response from farmers of 136 districts of 16 states is as follows:

1. Consumption of nitrogen fertilisers has decreased and the consumption of phosphorus potash and micronutrients has increased.

2. There has been 16 to 25 percent reduction in the cost of paddy farming and 10 to 15 percent reduction in pulses and oilseeds farming.

3. There has been 10 to 25 percent increase in the production of paddy, 10 to 15 percent in the production of coarse cereals, 10 to 30 percent in pulses, and 35 to 66 percent in the production of oilseeds.

Powered by Capital Market - Live News

Fitch: Retail & Distribution Space to Converge Due to E-Commerce
Jun 02,2017

The growth of e-commerce and the increasing emphasis on delivery speed as well as pick-up services for retail goods will likely precipitate a convergence of industrial distribution and retail real estate, according to Fitch Ratings.

Ongoing changes for retail real estate and industrial/distribution space have put the future role of shopping centers and lower-quality malls in question. E-commerce continues to take share from bricks and mortar retail, resulting in tenant and retail property softness. We believe well-located retail properties and REITs with portfolios centered on consumer demographics will see continued demand as delivery and pickup services and an increased focus on demographics gain momentum.

Retail real estate sites and e-commerce last mile distribution sites now essentially serve the same purpose - the distribution (or staging) of goods for sale to the end user. One has a delivery focus but without public access, the other has public access but without a delivery function. Retail centers that exhibit the best demographics, which include per capita income and population density, will be most easily repositioned and most capable of managing the secular shift in how goods are sold and purchased in the 21st century.

Owners of infill retail locations that can also function as delivery and pickup locations - retail distribution (or ReDi Facilities) - will likely be winners as this convergence accelerates. The need to distinguish between an attractive retail or last mile distribution site - zoning notwithstanding - will become less meaningful as the function of the real estate is the same: providing a way to distribute goods to customers. The old real estate axiom, Location, Location, Location applies, possibly now more than ever.

Community shopping center and regional mall values have historically been measured by their proximity to population density and the regions per capita income. While these measures will continue to determine the attractiveness of a site, last mile distribution and pickup purposes will also be considered in drawing consumer foot traffic and buying power.

In a rapidly changing retail world, lenders, investors and operators will have to refocus their attention to demographics. When it comes to last mile retail distribution, underwriting on location (based on consumer demographics) may take on as meaningful importance as in-place NOI.

With the advent of Uber and ride sharing and the eventual development of self-driving cars, some REITs are discussing what they can do with potential excess parking facilities. Depending on zoning and the configuration of a shopping center, using excess parking facilities or underutilized retail space to develop small scale last mile delivery and pickup distribution facilities may be an option.

If the alternative is an antiquated or failing center in a municipality, zoning authorities and their communities will eventually be compelled to consider zoning changes allowing small scale distribution facilities at current retail zoned sites or face the prospects of a blighted center, lost jobs and tax revenue. Fitch expects real estate owners will find ways to make mixed-use retail / distribution sites palatable for residents.

Powered by Capital Market - Live News

ASSOCHAM and Videocon Gear Up for GST, launch Awareness Drive for consumer electronic traders
Jun 02,2017

In a view to generate awareness and educate retail partners around GST implications, ASSOCHAM and the leading Consumer Electronics and Home Appliances Company, Videocon, organized the first-of-its-kind GST Summit today for Traders. The daylong ASSOCHAM VIDEOCON GST Summit for traders witnessed deep discussions around GST, addressing retailers queries, and offering them a clearer understanding of the GST concept.

ASSOCHAM has taken a step towards imparting knowledge on immediate as well as far reaching impact of GST on the businesses through the ASSOCHAM Videocon GST Summit. Emerging as the fountainhead of Knowledge for Indian industry, ASSOCHAM has always worked towards creating a conducive environment for India business to compete globally.

In its next meeting on June 3, the goods and services tax (GST) Council will fix rates for certain items that could not be decided upon at its meeting in Srinagar, Union Minister of State for Finance, Mr Arjun Ram Meghwal.

n++We have also received representations from some sectors including textile for which the rates had been fixed, we will discuss it in the next GST Council meeting,n++ said Mr Meghwal.

n++In textile sector, garment manufacturers and cloth manufacturers want different rates, we will discuss these issues on June 3,n++ he said.

He also said that FinMin has advised the trade and industry bodies along with its three technical institutes viz., Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI) and Institute of Cost Accountants of India (ICAI) to organise awareness campaigns as GST is likely to be rolled out from July 1.

He said that so far whatever decisions have been taken by the GST Council are not based on majority but on the basis of consensus among all state finance ministers.

The Union Minister said that GST will help bring down logistics cost and that would perhaps be the biggest benefit of this game-changing reform.

n++Recently an international conference on logistics charges was organised by Union Minister Nitin Gadkari whereby we observed that logistics charges in developed countries like Canada, US, France, Germany and others is a meagre eight per cent whereas in India it is about 13.5 per cent,n++ said Mr Meghwal.

n++We include transportation and warehouse charges in logistics charges, GST will bring down logistics costs massively and bring us at par with the developed nations,n++ he added.

n++We live in WTO-era, when there is such a difference in costs for the same product it does not provide India a level playing field as such implementation of GST is a must,n++ further said Mr Meghwal.

Highlighting certain other possible benefits of GST, the Union Minister said that GST would undoubtedly lead to ease of doing business, besides it will also simplify filling returns, widen tax net, reduce human interface and curb corruption.

n++For years together we have lived as a society which believed in tax evasion but now we have to be prepared for this slight change and help India rise up to paying taxes,n++ he said.

He also said that 2017 will be remembered as a year of unprecedented economic reforms.

On the low GDP (gross domestic product) numbers in the quarter to March, to 6.1 percent, Mr Meghwal termed it a temporary phase, and said that there is no need to fear as the countrys economy is growing rapidly.

Speaking about the initiative, Shri. R.N Dhoot, Member of Parliament said, n++Announcement of GST in the country has been a revolutionary step. Not only will it lead to lower tax burden on several commodities, but will also bring ease of doing businesses in the country. I congratulate ASSOCHAM and Videocon to take this initiative and address retailer queries related to implementation of GST.n++

Commenting on the occasion Mr. Sandeep Jajodia, President ASSOCHAM, said, n++Its a nationwide observation that in general, the trade (mostly MSMEs) are not in line with knowledge with GST. Therefore, ASSOCHAM & Videocon have embarked upon the process of training and awareness of GST in a big way, which will be of paramount importance in the smooth roll-out of GST. As the contours of GST law are more or less known, the purpose of such programs is to sensitize the trade across India to make them aware of the salient features of GST.n++

Videocon has been delighting customers and trade partners with its wide array of quality product offerings for over 3 decades. Being a responsible corporate, Videocon is committed to serve the industry and all its stakeholders passionately. Understanding the industry ambiguities with regards to GST, Videocon organized the GST summit with ASSOCHAM to ensure that all members of the industry move positively at a pace which is in line with the nationwide rollout of Indias greatest tax reforms.

Speaking about the initiative, Mr. C. M Singh, COO Videocon, said, n++We are extremely happy to launch ASSOCHAM Videocon GST Summit which aims to bring the entire industry together on one platform. As the GST date inches closer, Videocon hopes to equip all its partners and make them GST ready. We plan to hold more than 200 of such seminars to raise GST awareness across the country. Videocon has always taken initiatives to ensure industry growth and welfare. Through these GST Summits, Videocon will try to ensure that all queries of consumer electronic traders with regards to GST implementation are resolved and they are GST ready. Videocon is happy to contribute in its small way in the smooth implementation of GST.n++

The ASSOCHAM Videocon GST Summit provided a freewheeling dialogue between experts from Videocon and ASSOCHAM, and Consumer Electronic retailers on GST. The session imparted knowledge on the fundamentals of GST and educated the retailers on the impact of GST on the consumer durables. With the inaugural event in New Delhi, the ASSOCHAM Videocon summit will go to 200 cities ahead of its nationwide rollout on July 1. The takeaways from the Delhi event will be utilized in other cities towards familiarizing the industry players on GST.

Powered by Capital Market - Live News

Last date for one time exemption given to associations for filing Annual Returns is June 14th, 2017
Jun 02,2017

Government has given one final opportunity to all associations/ organizations which have applied for renewal of their registration under the Foreign Contribution (Regulation) Act, 2010 (FCRA) but have not uploaded their Annual Returns from Financial Year 2010-11 to 2014-15.

All such NGOs can upload their missing Annual Returns along with the requisite documents upto June 14, 2017. No compounding fee will be imposed for late filing of Annual Returns upto June 14, 2017.

Powered by Capital Market - Live News

Subscribe for Atal Pension Yojana (APY) digitally through user friendly eNPS Platform
Jun 02,2017

Pension Fund Regulatory and Development Authority (PFRDA), the administrative Authority for Atal Pension Yojana (APY) has taken several steps for extension of the benefits of the Scheme to the Citizens of India. The subscriber can enroll through internet banking without submission of physical application form. Many banks are offering this facility for their customers. Efforts are taken to completely digitize the APY enrolment. PFRDA has developed the process to offer APY enrolment through eNPS platform for wider reach. eNPS platform has been already enabled for NPS subscriptions and this user friendly platform will be expanded to make subscription under APY in a complete end to end digital environment without submission of physical form at the convenience of the customer without visiting bank or post office.

PFRDA has conducted meetings with Banks and Department of Post on 23.05.2017 & 29.05.2017 at PFRDA office, New Delhi and at Chennai respectively for the earliest roll out of the facility.

The APY service providers have been advised to develop APY@eNPS channel features before 30th June 2017.

Powered by Capital Market - Live News

APY subscribers base is more than 54 Lakhs subscribers
Jun 02,2017

Pension Fund Regulatory and Development Authority (PFRDA), the administrative Authority for Atal Pension Yojana (APY) has taken several steps for extension of the benefits of the Scheme to the Citizens of India. The subscriber can enroll through internet banking without submission of physical application form. Many banks are offering this facility for their customers. Efforts are taken to completely digitize the APY enrolment. PFRDA has developed the process to offer APY enrolment through eNPS platform for wider reach. eNPS platform has been already enabled for NPS subscriptions and this user friendly platform will be expanded to make subscription under APY in a complete end to end digital environment without submission of physical form at the convenience of the customer without visiting bank or post office.

PFRDA has conducted meetings with Banks and Department of Post on 23.05.2017 & 29.05.2017 at PFRDA office, New Delhi and at Chennai respectively for the earliest roll out of the facility.

The APY service providers have been advised to develop APY@eNPS channel features before 30th June 2017.

Powered by Capital Market - Live News

Moodys: Diverging interest rates will widen profitability gap between US banks and global peers
Jun 01,2017

The profitability gap between US banks and global peers will widen over the next 12 to 18 months as US interest rates rise and persistently low or even negative rates in Europe and Japan intensify profitability pressures on their banks, says Moodys Investors Service in a report.

We expect the US Federal Reserve Bank to progressively increase interest rates over 2017/18, allowing US banks to earn higher interest on their lending activities and investment securities, says Michael Rohr, Vice President and Senior Credit Officer at Moodys. In contrast, we expect interest rates to continue to remain very low in Europe into 2017 and 2018, and pressures on profitability will likely grow as a result.

Rising rates will support US banks net interest margins and income due to the high share of interest-sensitive and largely variable-rate assets in US banks balance sheets contributing to their revenues and profitability. In addition, most commercial loans are generally linked to one- and three-month LIBOR and therefore highly reactive to changes in short-term interest rates.

For European banks, the continued downward re-pricing of loans, in a context of funding costs which have little room to reduce further, will intensify profitability pressures. Banks with a high share of net interest income as a percentage of their revenues and a low share of interest-sensitive wholesale funding, such as small, regional banks in Germany and Switzerland, are most at risk.

European banks that rely on both a high share of household deposit funding and a high share of revenues from net interest income will be most exposed to profitability pressures, explains Mr. Rohr. This is because these banks will be increasingly constrained in their ability to pass on extremely low or even negative interest rates to their non-corporate depositors, leading to a faster compression of their net interest income.

When short-term interest rates eventually rise in Europe, a scenario Moodys currently anticipates for the first half of 2019, some banks exposed to long-term fixed-rate assets would face a profit shock because their funding costs will rise much more rapidly than their lending rates. Germanys savings and co-operative banks, Frances mutualist groups and Switzerlands cantonal and regional banks would be more exposed to a reversal of interest rates, in Moodys view.

In Japan, too, the negative interest rate policy will continue to put pressure on domestic banks profitability because negative interest rates will adversely affect banks net interest income, Japanese banks main revenue source at 68% of total revenues.

Powered by Capital Market - Live News