Rs 42,000 crore disbursed under Mudra Yojana: Sinha

The government is taking steps to provide the required credit to the MSME sector even as Rs 42,000 crore has been disbursed under the Pradhan Mantri Mudra Yojana alone,Minister of State for Finance Jayant Sinha told Lok Sabha on Friday. 

Around 66 lakh people have benefitted so far from the Yojana under which loans up to Rs 10 lakh are given for enterprises and trades Stock Market Trading Tips

"We are putting pressure through the financial system to ensure that targets (with respect to providing credit for MSMEs) are met," Sinha said in reply to questions. 

The Minister said Rs 42,000 crore has been given so far under the Mudra Yojana, which was launched in April this year. 

When some members said banks are not extending enough credit to MSMEs (Micro, Small and Medium Enterprises), he said there are guidelines in place for extending loans to the sector Himanshu Tiwari Astrologer Blog  

Under the revised priority sector lending guidelines, a target of 7.5 per cent of adjusted net bank credit or credit equivalent amount of off-balance sheet exposure — whichever is higher — has to be lent by the scheduled commercial banks to micro enterprises. 

Sinha said over Rs 1 lakh crore worth credit guarantee has been extended under the credit guarantee fund trust for micro and small enterprises as on October 31 this year. 

According to the Minister, various coordinating mechanisms are in place at the central, state and district levels with respect to extending credit for the MSME sector Indian stock market astrology prediction

‘Customer switching’ economy in India worth US$331 billion: Accenture survey

In this age of digital technology, brands are being benchmarked not only against their rivals, but also on the kind of customer experience they deliver. Brand loyalties among consumers, unlike in the past, are changing at the click of a mouse Stock Market Trading Tips

According to Accenture's Consumer Pulse Survey, 88% of respondents switched companies in at least one industry due to poor service. This is significantly higher than the global average of 64%.

Brand switching consumers represent a huge potential loss of revenue for companies that fail to retain them. On the other hand, it is also a good opportunity for those that can attract them.Accenture has estimated that the switching economy in India is currently worth US $331 billion. It says companies that fail to improve their flat-to-falling customer experience indicators, such as customer satisfaction, brand loyalty and advocacy, will suffer a significant potential loss of revenue Himanshu Tiwari Astrologer Blog

As per the survey in India, 86% of customers who switched loyalties said that the companies could have done something to prevent their service providers from switching. However, 56% of customers were willing to give their service providers another chance, if the companies make it worth their while.

The Accenture survey noted that organizations need to embrace digital fully to provide relevant, connected and personalized customer services. In short, they need to use digital to disrupt rather than be disrupted.

The survey shows that poor customer experience is the primary reason for switching companies, while the lack of knowledge of customer service representatives is the second-most cited reason for switching. ``While customer expectations of after-sales service is growing, our survey indicates that 73% of the respondents feel companies are unable to keep pace with their service needs. Needless to say that if switching is left unchecked, it could spell disaster for companies. Our survey indicates that 85% of the respondents talk about their negative service experience with others. And, after a negative experience, as many as 68% of customers reduce the level of business dealing with their service providers while 59% stop doing business with them altogether,'' the company said Commodity Market Astrology Tips

Sun Pharma scrip gains 4% on launch of generic Gleevec in US next year

 Sun Pharma has received approval from the US Food and Drug Administration (USFDA) to launch generic version of its anti-cancer drug Gleevec (Imatinib Mesylate) tablets, 100 mg and 400 mg. Imatinib Mesylate tablets are therapeutic equivalents of Novartis' Gleevec tablets. Novartis' US patent for the drug expired in July Stock Market Trading Tips

Reacting to the company announcement, the Sun Pharma scrip gained 4% to Rs 756.10 on the BSE on Friday.
According to IMS MAT data for August, these tablets have annual sales of approximately $2.5 billion in the US. It could mean sales worth up to $300 million for the company in the 180-day period allowed for exclusive market access Himanshu Tiwari Astrologer Blog

"On a conservative basis, the product can easily contribute sales of around $250-300mn during the six-month exclusivity and net profit of around $ 75-90mn during the period. The product can easily enhance the EPS of the company in FY2017 by 8-9%", Sarabjit Kour Nangra vice-president research pharma at Angel Broking said.

"Under the terms of a settlement agreement with Novartis, the Sun Pharma subsidiary is permitted to launch its version of generic Gleevec in the United States on February 1, 2016," the company stated.

The Sun Pharma subsidiary, being the first-to-file an ANDA for generic Gleevec with a Para-IV certification, is eligible for 180-days marketing exclusivity in the US. The commercial launch of this product is scheduled for February 1, 2016 Indian stock market astrology prediction

Gas row with ONGC may open another front for RIL

Globally, oil and gas pools are known for not sticking to geographical or political boundaries. The eastern gas bowl off the Andhra coast in the Bay of Bengal has been the stage for intense rivalry among explorers to pump up volumes. Additionally, it has also cradled a festering dispute between two of India's largest oil companies - state-run ONGC and private sector Reliance Industries (RIL) - over allegations of gas siphoning since 2013 Stock Market Trading Tips

The final report by Dallas-based oilfield consultants DeGolyer and MacNaughton (D&M) on ONGC's charge of RIL siphoning gas from its block has the potential of opening another long-drawn front for India's biggest private oil company. 

The report, submitted to the Directorate General of Hydrocarbons, the oil ministry's quasi-judicial technical arm, earlier in the week has said gas worth over Rs 11,000 crore, or roughly $2 billion at the price of $4.2 per unit, has flowed from ONGC's idle block into RIL's neighbouring block in operation. 

The report raises more questions than it answers. It could be years before a resolution is found - just like the other disputes involving RIL in the KG block - most likely through a long-drawn legal battle Himanshu Tiwari Astrologer Blog

Much will depend on the DGH's view on the geological technicalities of the gas pool - like a river system - shared by the blocks and how the ministry reconciles the claims of the two companies. ONGC wants RIL to pay for the gas that has flowed from its block. RIL says it has only drilled wells on its side of the block in line with the terms of contract with the government and started production in 2007. 

RIL started production from KG-D6 in 2007, whereas ONGC is still working on bringing its block to production. Under the circumstance, it would be tough to pin liability and ask RIL to compensate ONGC, which in all likelihood would be challenged legally Indian stock market astrology prediction

Any reconciliation of the positions, without a legal tangle, would require lengthy consultations with all the parties. This process, if the ministry so decides, is likely to take more than six months given by the court to resolve the issue after submission of the report. 

The ministry has to balance the political imperative of not being seen as favouring RIL - whose gas pricing was one of the campaign issues during the 2014 general elections - and the NDA government's efforts at rejuvenating the exploration sector Commodity Market Astrology Tips

Big Mac looks beyond burger in brand push

McDonald's is ramping up its brand extension business in India. Although burgers continue to be the backbone of the US fast food chain, it now earns a fourth of its revenues from ice cream, smoothies and coffee Stock Market Trading Tips

To speed up its brand extension business, the company has started a remodelling exercise to make its stores look fast-casual in South and West India. "We are trying to blur the line. This is what McDonald's will look like to millennials in the future," said Amit Jatia, vice-chairman of Westlife Development and McDonald's partner in West and South India. 

The burger chain has four brand extensions: Delivery, breakfast, dessert kiosks and McCafe. Jatia said sales value of these may touch Rs 850 crore in four years. Along with selling burgers, that's roughly the sum Jatia makes from 216 McDonald's stores in the country. "However, I want to be clear about the fact that our brand extension lines don't cover all our restaurants. We are working on it. For instance, we have opened 52 McCafes. In three years, we expect our coffee business to earn around Rs 250 crore," he said Himanshu Tiwari Astrologer Blog

McCafe is a coffee-house-style food and drink chain owned by the burger chain. Interestingly, it has yielded more revenues for McDonald's than its regular stores in some markets. McCafes are housed inside regular McDonald's in India. 

Jatia said he has earmarked an investment of Rs 750 crore to open around 200 new restaurants in five years. His company Westlife Development operates McDonald's stores through its subsidiary, Hardcastle Restaurants. While Westlife reported a 21% increase in revenue for the September quarter led by its restaurant business, McDonald's has been juggling with the dual problem of a sluggish economy and a legal battle with its estranged partner in North India, Vikram Bakshi, the owner of Connaught Plaza Restaurants Indian stock market astrology prediction

One of the first international quick service restaurants (QSR) to enter the domestic market, McDonald's was ousted from the position of the country's largest QSR player by US pizza maker Domino's in 2013. Subsequently, it slipped behind its US rival KFC and now resides in the third position, according to a Euromonitor report from August. The organized QSR business in the country is poised to grow at a CAGR of 25% to reach around Rs 16,800 crore by 2018, Jatia said. 

'OECD's tax haven plan on Indian lines'

India has been an active participant in the Base Erosion and Profit Sharing (BEPS) action plan, the final package of which was rolled out by the Organisation for Economic Co-operation and Development (OECD) in October. The action points, set down by the OECD, aim at closing loopholes that enable MNCs to shift profits to low- or nil-tax countries Stock Market Trading Tips

At a seminar organized by the Foundation for International Taxation, Anita Kapur, former chairperson of Central Board of Direct Taxes (CBDT) and current adviser on tax reforms, said: "The theme of BEPS is in consonance with what India always believed in." The fundamental principle of the BEPS action plan is to tax income in the place where the economic activities are performed and where value is created and this principle does move towards the source concept. "As tax administrators, when we used to say, please pay your taxes because you have added value in India, we were a minority voice. With the BEPS project, our concerns have been heard and we are now the majority voice," Kapur said. 

The topic of this panel discussion was: 'Celebration or chaos under BEPS in next 20 years'. Participating in the discussions, in her personal capacity, Kapur emphasized that "BEPS is a fair tax treatment for all." As regards the next step, Kapur added: "G20, OECD and United Nations (UN) need to break rules in simple, easy to understand tenets, help countries (tax administrators) in capacity building and get MNCs on board  Himanshu Tiwari Astrologer Blog

According to the OECD, tax revenue losses from BEPS are conservatively estimated at $100-240 billion annually, or anywhere from 4-10% of global corporate income tax (CIT) revenues. Given developing countries' greater reliance on CIT revenues as a percentage of tax revenue, the impact of BEPS on these countries is particularly significant. 

Today, tax activists are demanding that MNCs pay their fair share of tax. Aggressive tax planning has dented the brand image of many companies, such as Amazon, Google, Apple and Starbucks. In this context, Kapur said: "The cost for MNCs can be disproportionate to the taxes they are saving." 

Admitting that BEPS would add a layer of complexity, her take was that if rules are laid down clearly, tax administrators can provide certainty and in turn corporates can manage to get out of litigation and problem areas. TOI had earlier reported that high on the list of action plans to be implemented by Indian revenue authorities is the country-by-country reporting (CBCR) requirement for transfer pricing purposes. MNCs based in OECD or G20 countries (which includes India), with consolidated revenues of at least 750 million euros (around Rs 5,000 crore) will be required to maintain and furnish CBCRs to their tax authorities Indian stock market astrology prediction

CBCR requires details of the place of incorporation, tax residency, revenues, profits, taxes paid, capital, number of employees and details of activities on a country-by-country basis. According to the BEPS action plan, this requirement is recommended for accounting years starting on or after January 1, 2016. 

In this regard, Kapur did not foresee challenges in its introduction as documentation requirements are captured in the Income Tax Rules and not in the Act. 

Many of the panellists were sceptical about the smooth and co-ordinated BEPS implementation across all countries, given its magnitude. As Mukesh Butani, partner, BMR legal, said: "It is difficult to believe that governments will act consistently." 

When the panellists were asked to rate the BEPS initiative on whether it would lead to celebration or chaos, Kapur said she "celebrated the change in direction". Butani, echoed the sentiments of many MNCs and tax professionals, and gave a rating of four to celebration and six to chaos Commodity Market Astrology Tips

RCOM to sell towers in Rs 30k-cr deal

Marquee private investment firms Tillman Global Holdings and Texas Pacific Group, or TPG, have signed a non-binding pact to buy the tower and optic fibre assets from Reliance Communications (RCOM) and other institutional investors in a deal estimated at Rs 30,000 crore. Under the terms of the transaction, RCOM and the other minority investors will transfer the telecom infrastructure assets from Reliance Infratel to a special purpose vehicle owned by the two US-based investment firms Commodity Market Astrology Tips

Tillman, founded by Sanjiv Ahuja, an Indian origin telecom veteran, and TPG, an asset manager with a portfolio worth $74 billion, have time until January 15 to ratify the deal, which is subject to final due diligence and regulatory approvals. RCOM, a unit of the Anil Ambani-led Reliance Group, stated that there is no certainty at this stage that the discussions will result in a transaction.

The deal, if it fructifies, will give Tillman and TPG a major stake in the world's second biggest telecommunications market where demand for mobile phone masts will grow as cellular operators expand their 3G and 4G services. Reliance Infratel, with 45,000 towers, is the No. 3 player in the country, after Indus Towers and American Tower Corporation (ATC) that have 1.15 lakh and 56,000 mobile phone base stations respectively Jackpot Stocks Trading Tips

The Tillman & TPG-Reliance Infratel deal follows ATC's October agreement to buy 51% stake in Viom Networks for Rs 7,635 crore. The deal with Viom had catapulted ATC to the No. 2 position.

An RCOM statement said that Tillman and TPG will also consider buying the optic fibre assets in a separate transaction. RCOM owns 96% stake in Reliance Infratel, with the balance 4% held by George Soros' Quantum, New Silk Route, Galleon and HSBC, among others. The minority investors had invested $287 million in Reliance Infratel in 2007 Indian stock market astrology prediction

The Reliance Infratel sale will help RCOM cut its debt of Rs 39,900 crore significantly. Besides the tower and optic fibre assets, Tillman and TPG consortium will also take over the business' debt. RCOM, said a person familiar with the deal, will eventually have a debt of Rs 10,000 crore on its books. The country's fourth largest wireless service provider will continue to be the anchor tenant on the towers transferred. In 2013, RCOM had agreed to share its towers with the Mukesh Ambani-led Reliance Jio for 15 years till 2030.

Tillman owns telecom infrastructure assets in more than 15 countries across Asia, Africa, Europe and North America. Ahuja, the former Orange CEO, has been collaborating with TPG to acquire tower assets in Asia including Apollo Towers Myanmar Himanshu Tiwari Astrologer Blog

Recharge mobile with a missed call

HDFC Bank is taking on Paytm, an emerging challenger in the digital space, on its own turf — the recharge business. The new generation private bank is offering its customers prepaid mobile recharge service through a missed call Stock Market Trading Tips

Terming it a first-of-its-kind service in the world, Nitin Chugh, head (digital banking), HDFC Bank, said that once a customer activates the service through a text message, all he/she needs to do was to again text a favourite recharge amount. The customer's prepaid account will then get recharged with the favourite amount each time he/she makes a missed call. The customer can also add, through an SMS, mobile numbers of family members and friends and authorize them to recharge their mobiles through missed calls by debiting the customer's own account. Separate favourite recharge amounts can be set for the additional members.

"HDFC Bank customers who are registered for SMS Banking can activate this service by sending an SMS and will be activated for missed call recharge for a default amount, say Rs 50. If a customer wishes to set any favourite amount (other than Rs 50), it can be done by sending an SMS," he said Himanshu Tiwari Astrologer Blog

Payments bank licencee Paytm has claimed a customer base of 10 crore. A large chunk of this uses the digital wallet for recharging mobile phones and DTH services. Although HDFC Bank's missed call service is restricted to its customer base, it is a sizeable number going by the bank's 2.41 crore debit card base. Chugh pointed out that the missed call service is ideal for 750 million feature phones which constitute 75% of handsets in India. Over 85% of mobile connections are prepaid and recharges are for values as low as Rs 10.

On growing popularity of 'missed call' services, Vodafone (East) head Anand Sahai said, "Today, a lot of options like chequebook delivery, app download, voting, bank balance check and even DTH recharge happens via missed calls." Industry insiders say that 45% of calls are unanswered, including those for missed call services. The Trai chairman on Thursday, too, acknowledged this phenomenon and termed India as the 'missed-call capital' of the world Indian stock market astrology prediction

GST may make services costlier

The recommendations of the panel headed by chief economic adviser Arvind Subramanian on GST rates have triggered concerns that services, ranging from mobiles to entertainment, could become more expensive but the committee is confident that its proposals would have minimal inflationary impact Stock Market Trading Tips

In contrast, on the goods side, food products and furniture, among other manufactured products, may see a fall in prices, if retailers pass on the benefit to consumers. 

"The suggested standard rate of GST of around 17-18% appears to be a modest rate for manufacturers who currently suffer the levy of central excise duty at 12.5% as well as state levies, which may be as high as 14.5-15%," said Saloni Roy, senior director, Deloitte in India. 

"However, at this rate, services are likely to become more expensive, as the difference between the current rate of service tax and suggested rate of GST is significant. However, this impact can be mitigated to some extent, depending upon tax credits available to the service provider under GST regime," said Roy Himanshu Tiwari Astrologer Blog

The panel has suggested a revenue neutral rate of 15-15.5%. It has said that lower rate should be kept around 12% and the maximum possible rate should be taxed at the standard rate. Services tax rate is 14% and with the Swachh Bharat cess it comes to 14.5%. 

There will be a slight impact on services but the effective cost of goods would come down, said Rajeev Dimri, indirect tax practice, consulting firm BMR. 

The panel said the impact would not be significant. "Analysis in the report suggests that the proposed structure of rates will have minimal impact on inflationary consequences Indian stock market astrology prediction 

But, careful monitoring and review will be necessary to ensure that implementation of GST does not create conditions for anti-competitive behaviour," it said. 

Economists have for long argued that the implementation of GST will help do away with the cascading effect of various taxes and actually help reduce the overall levies. With the entire value chain in the tax net, the government is looking at a wider tax base to trigger buoyancy in its collections Share Market Astrology

Rupee hits 2-yr low of 67, sensex dips on global cues

The sensex dropped 249 points on Friday to settle at a two-week low of 25,638, tracking a global rout after the ECB stimulus fell short of expectations. Sentiment was also impacted by a weakening rupee which fell to 67.01 intraday, a two-year low, which along with sustained capital outflows kept investors on the edge Commodity Market Astrology Tips

The RBIstepped in through public sector banks to support the rupee, which resulted in the domestic currency closing at 66.69 — three paise lower than its previous close. Meanwhile, data released by the RBI showed that India's foreign exchange reserves fell $750 million to $351.6 billion in the fortnight ending November 27. 

RBI governor Raghuram Rajan has indicated that a Fed rate hike is almost a certainty, stating that it is almost as widely anticipated as was RBI's status quo policy on December 1. He has also said that he expected the rupee to stabilize after an initial round of volatility following the rate hike and that the RBI would step in to moderate volatility Indian stock market astrology prediction

After resuming lower, the 30-share BSE sensex continued its slide and hit a low of 25,624, before settling down by 249 points, or 0.96%, at 25,638 — a level last seen on November 18. The sensex has now lost 531 points in the last three days. The NSE nifty cracked below yet another crucial mark of 7,800 by falling 82 points, or over 1%, to close at 7,782.

Uber to raise $2.1bn at $62.5bn valuation

Uber is looking to raise as much as $2.1billion in a financing round that would value the car-booking company at $62.5 billion, said people familiar with the matter. Uber has filed paperwork in Delaware detailing the fundraising plans, said the people, who asked not to be named because the plans are private Stock Market Trading Tips

The new funding shows Uber is accelerating its race to expand globally and branch into services beyond picking up and dropping off riders. The company has tested food and package delivery in some cities, and is working on new technology, such as self-driving cars. Uber is spending aggressively to expand throughout Asia, particularly in China, where the company expects to spend $1billion, according to a June letter to investors from chief executive officer Travis Kalanick. 

As part of the current financing round, Uber has closed investments from Tiger Global Management and T Rowe Price, and it's also seeking strategic investors with shared business interests, the people said. Uber, Tiger Global, and T Rowe Price declined to comment. One strategic investor, Microsoft, kicked in about $100 million as part of a previous round for the San Francisco ride-hailing company, people with knowledge of the matter said in July Himanshu Tiwari Astrologer Blog

Tiger Global backs some of Uber's main competitors outside of the US, including China's Didi Kuaidi, India's Ola, and Singapore's GrabTaxi. Didi Kuaidi raised about $3 billion in a round this year, people familiar with the matter had said. The three Asian companies, along with Lyft in the US, are teaming up to form a global alliance that will make their apps cross-compatible for travellers, they said in a statement on Thursday. 

Lyft, Uber's biggest US rival, is currently seeking to raise $500 million, according to fundraising documents obtained by Bloomberg last month. The materials also contain details about the company's finances that suggest it's spending aggressively to continue growing. The company lost $127 million in the first half of 2015 on $46.7 million in revenue, according to the documents. Lyft said last month that it has gained market share in key markets, such as San Francisco, and has a gross revenue "run rate" of $1billion Indian stock market astrology prediction

For Uber's current round, the company is telling investors it has a gross revenue run rate of more than $10 billion globally, people familiar with the matter said. The number is typically calculated by annualizing a recent week, month, or quarter of the company's gross revenue, which means actual annual revenue may differ substantially. 

The number doesn't reflect expenses, and it includes money paid out to drivers, who take most of that revenue. Uber has increased actual US gross revenue about 200% this year. It is profitable in more than 80 cities around the world, people familiar with the matter said. BLOOMBERG Commodity Market Astrology Tips

Panel of IIT experts to look into VW case

The road transport ministry will set up a committee of experts from four IITs to look into Volkswagen's emission case Stock Market Trading Tips

"We will be forming a committee of IIT experts in the next couple of days. The committee will be tasked to analyze and understand the VW issue and submit the findings to the ministry. We don't want to take a decision in haste," road transport minister Nitin Gadkari said. 

Gadkari said the panel of experts on vehicle emission issues will submit its report within a month or two. "Any decision will be taken after that," he added. Sources said the ministry will hold a meeting with the experts next week Indian stock market astrology prediction

Earlier, heavy industries minister Anant Geete had said that they have re ferred the case to Gadkari's ministry and it's up to the transport ministry to take a call on penalty and ban on sale of VW's diesel vehicles. 

On Friday, Gadkari also said that his ministry will soon come out with an integrated policy to scrap commercial vehicles that are over 10-years old to check rising pollution, though there is no immediate plan to ban trucks and buses above 15 years Commodity Market Astrology Tips

Foundation for financial inclusion is in place, says Gates

Microsoft founder and philanthropist Bill Gates on Friday said India has put in place the foundation for a strong financial inclusion programme, which will lower costs and result in widespread innovation Stock Market Trading Tips

Pointing to the experience in Kenya where mobile-based financial transactions add up to nearly half the GDP , Gates said India could reach that level in two to three years. "The pieces have fallen in place to get a huge scale of financial transactions. (It will) drive money transfers and then payments," he said at an event of financial inclusion organised by Nasscom and Bill & Melinda Gates Foundation, which has started focusing on micro-finance for around eight years. While the Centre is currently pushing direct benefit transfer, especially for cooking gas, the plan is to expand the coverage to other areas. Gates said the scale would grow even bigger if states were encouraged to join the platform, which was described as a plug-and-play model by Jayant Sinha, the junior minister for finance. He indicated that the government would expand the coverage to include health and agriculture insurance Indian stock market astrology prediction

Sinha said by encouraging payment banks, including telecom companies to enter the arena, RBI and the government were trying to increase competition, and drew parallels with the telecom revolution, which has resulted in low tariffs. 

Gates said that electronic transactions were best suited for financial inclusion programme as they drove down costs Share Market Astrology

Finding a trusted doctor on online platforms is so difficult

In 2013, Ravi Shankar Mishra, then an employee with Amazon India, asked his mother to relocate from Ranchi to Bengaluru so that she could be treated well for her diabetes. She moved. And Mishra logged into appointment booking platforms to find a good diabetologist. He was flooded with lists of 300400 such doctor Stock Market Trading Tips

There were no reviews of the doctors from verified patients. "When I went to the second and third pages of the listings, the phone numbers didn't work and some of the doctors had moved on from those clinics.I finally found a diabetologist who I thought would be good, but when I went there, I found the equipment in the clinic was 15 years old," says Mishra. 

That was when he thought of developing a curated healthcare content platform that had real doctors, clinics and patient reviews. He quit his job at Amazon India, where he was head of retailer marketing, and launched Medinfi last year. "I did extensive market research and found that there were enough appointment scheduling platforms that could be trusted to do a transaction, but there wasn't any trusted platform to take healthcare decisions," says Mishra, who graduated from Birla Institute of Technology, Ranchi, and did a post-graduate diploma from XLRI in Jamshedpur Himanshu Tiwari Astrologer Blog

Mishra's survey showed that 74% of people prefer to choose a doctor or hospital close to their homes. So he developed the platform such that it would find doctors and hospitals in the patient's vicinity, using hisher phone's GPS co-ordinates. Today , the company has data on 5,000 doctors in Bengaluru, Delhi and Mumbai. The company follows a rigorous audit process to verify the phone numbers and address of the clinics and hospitals and availability of doctors. It has also developed an app that is used to deploy third-party field forces to validate the accuracy of the information. 

Mishra, who started his career with Tata Administrative Services (TAS), launched a social startup called Alive in 2009 that had partnered with the likes of Janaagraha and Britannia to create meaningful weekend projects for youngsters. He then started a brand consulting firm Nueve, but had to shut it down, af ter which he worked with Jabong in Gurgaon. He moved to Amazon in 2013, where he led teams responsible for acquiring verified content for more than 1 lakh retail stores in the country Indian stock market astrology prediction

Medinfi does not charge the doctors, clinics or patients. So how will it monetize? Mishra says he is looking at in-app advertising. He notes that companies like WebMD, which provides trustworthy and timely healthcare information, have listed on the Nasdaq. The company has raised Rs 2 crore in angel funds from a host of investors including Sunil T V , co-founder of India Value Fund Advisors."We have raised money at our own terms, and we have not signed a single term sheet," Mishra says. 

Chennai flood losses pegged at Rs 15,000cr

Crippling floods in the city have caused large sections of its automobile hub to remain closed for the second day with an industry chamber having pegged the possible economic impact at a Rs 15,000 crore. According to Assocham, apart from the automobile industry, small and medium enterprises, engineering and IT/ITeS firms, textiles and tourism sectors have been badly hit by the flooding Stock Market Trading Tips

Automakers like Hyundai, Renault-Nissan, Ashok Leyland and Royal Enfield remained closed on Thursday and industry sources said things are likely to remain "at a standstill mode" till Saturday. What's more Chennai is also a major auto parts hub. So, the floods could hobble production in automobile factories across the country, said industry experts. The seriousness of the situation can be gauged by the fact that top executives, like the CEO of Ashok Leyland, had to be evacuated and several companies said they were working to help out executives stuck in rain-ravaged areas. 

Obviously companies with a manufacturing base in Chennai have been worst hit. The Ashok Leyland and Renault-Nissan plants remained closed for the second day on Thursday. The Hyundai factory is closed on Thursday and Friday and will only open on Saturday. Said Pawan Goenka, M&M group president (auto and farm sector): "We do not have a manufacturing base in Chennai but we have very large operations. We have announced a holiday for two-three days at Mahindra Research Valley. We have very expensive equipment in the R&D centre, but we have no idea of the extent of damage. Also starting tomorrow and day after, production will take a hit in all our plants across India if parts supply from Chennai-based auto parts suppliers does not normalize. Chennai is a large parts supply base and this will hit the entire automobile industry," he added Himanshu Tiwari Astrologer Blog

Others like Royal Enfield have already announced temporary closure of operations. "The unprecedented rainfall in Chennai has severely affected the city, including our employees, our manufacturing facilities and offices," said a company statement. "The floods caused by the rain have also impacted logistics and our supply chain, resulting in disruption of our production. As a consequence, we have shut down our offices in the city and our plants in Thiruvottiyur and Oragadam since December 1." The company has already lost production of 4,000 motorcycles in November due to the rains. 

Ditto with Renault-Nissan India., which sent out an advisory on Thursday: "With the worsening weather conditions, we will be cancelling few shifts and will resume operations as soon as the conditions improve. To date, we have not incurred any damage to our plant, facilities or warehousing and we are following up with all local suppliers to confirm their status," said a company spokesperson Indian stock market astrology prediction

Even those that have managed to continue production are facing a logistics nightmare - they can't transport the vehicles out of the factory premises. Companies which do not have a production base in Chennai, for example, are facing loss of sales and logistics bottleneck. Some like TVS, though not immediately impacted (their factories are in Hosur, Mysore and Nalagarh in TN, Karnataka and HP respectively) are pitching in with relief efforts. A TVS spokesman said: "There was a slight impact on our production in the month of November due to inclement weather in Chennai. We are watching the situation closely." 

For my kids, I don't pick calls from 6 to 9

Rajiv Jayaraman went to INSEAD, a presti gious MBA institute in France, with the idea of learning a few tricks about how to run a business of his own. "I like the autonomy and sense of ownership that comes along with entrepreneurship," he says Stock Market Trading Tips

While at INSEAD's Singapore campus, he started working on his idea. This was 2008, the year the global financial crisis was peaking. "There was commotion around me and everybody was jumping on to any job they could lay their hands on. That had me a little confused," says Jayaraman. 

Part of the MBA programme was a simulation game. Jayaraman found that it could be utilized as a unique way to learn IT. He experiment with the idea. "It had gaming, software and storytelling around it, things I'm passionate about, and that cleared all my doubts about what I wanted to do," he says. 

He went on to create gamification for several IT training programmes. After running the company for a year in Singapore, he shifted the company to Bengaluru for access to better talent pool Himanshu Tiwari Astrologer Blog

The company works with around 120 firms. His company , Knolskape, is now consid ered as one of the top 20 IT learning gamification companies. Knolskape's products come into play in areas like on-boarding, assessment, training and engagement. IT companies with large, young workforces are potential clients. The company started with the academic market (MBA colleges), who were paying clients, and has been making money from day one. 

Jayaraman started his career at Oracle in the US after graduating from BITS Pilani.While working as a project lead, he was bit by the creativity bug and got into theatre, storytelling and filmmaking."The two worlds were not meeting for me. One is the left brain and the other is the right brain," he says. He quit his job after a six-year stint.His father, who was a banker, was quite excited to hear about his son's entrepreneurship plans, the first such initiative in the family Indian stock market astrology prediction

Jayaraman learnt a few things from his dad. "Being a banker, he taught me the value of money . This has helped us to grow so far without external funding," says Jayaraman. His wife, Sharda Kalyanaraman, was equally supportive. Jayaraman met her in the US, where she was a Google employee. She now works with Jayaraman as Knolskape's COO. 

"I could not have done this without my wife. And I hope our kids are getting enough attention." Jayaraman does not pick calls between six and nine in the evening Commodity Market Astrology Tips

Rupee slumps 34 paise to 66.99 in early trade

Extending its losing streak for the third straight day, the rupee plunged by 34 paise to 66.99 against the US dollar in early trade on Friday on strong demand for the American currency from banks and importers amid sustained capital outflows Stock Market Trading Tips

Forex dealers said gains in the dollar against major global currencies and a lower opening in the domestic equity markets, weighed on the rupee. 

The rupee had dropped by 6 paise to close at 66.65 in Thursday's trade on sustained demand for US dollars by banks and importers on the back of higher greenback overseas Himanshu Tiwari Astrologer Blog

Sensex dips 201 points in early trade; Nifty slips below 7,800

Falling for the third straight session, the benchmark BSE Sensex plunged over 201 points, while the NSE Niftydipped below the 7,800-mark in early trade on Friday on sustained selling by funds and retail investors amid weak global cues Stock Market Trading Tips

The 30-share index was trading down by 201.35 points, or 0.77 per cent, to 25,685.27 with all sectoral indices led by IT, FMCG, banking and realty leading the fall with losses up to 1.09 per cent. 

The Sensex had lost 282.79 points in the previous two sessions. 

On similar lines, the National Stock Exchange Nifty dropped below 7,800 mark by falling 76.45 points, or 1.23 per cent, to 7,787.70 Himanshu Tiwari Astrologer Blog

Brokers said persistent selling by participants following hefty losses across Asia and other global markets, as an anticipated revision of the European Central Bank's stimulus programme fell short of expectations, mainly dampened the sentiments here. 

Furthermore, depreciating rupee against the dollar also negatively impacted sentiment, they said.

In the Asian region, Japan's Nikkei moved down by 1.92 per cent and Hong Kong's Hang Seng fell 1.23 per cent in early trade on Friday. Shanghai composite index shed 0.74 per cent. 

The US Dow Jones Industrial Average plunged 1.42 per cent in Thursday's trade Indian stock market astrology prediction

Base Erosion and Profit Sharing plan is a fair tax treatment for all, says former chairperson of CBDT

India has been an active participant in the Base Erosion and Profit Sharing (BEPS) action plan, the final package of which was rolled out by the Organisation for Economic Co-operation and Development (OECD) in October. The action points, set down by the OECD, aim at closing loopholes that enable MNCs to shift profits to low or nil tax countries Stock Market Trading Tips

At a seminar organised by the Foundation for International Taxation, Anita Kapur, former chairperson, Central Board of Direct Taxes ( CBDT) and advisor on tax reforms said, "The theme of BEPS is in consonance with what India always believed in." 

The fundamental principle of the BEPS action plan is to tax income in the place where the economic activities are performed and where value is created and this principle does move towards the source concept. "As tax administrators, when we used to say, please pay your taxes because you have added value in India, we were a minority voice. With the BEPS project, our concerns have been heard and we are now the majority voice," Kapur said Himanshu Tiwari Astrologer Blog

The topic of this panel discussion was 'Celebration or Chaos under BEPS in next 20 years'. Participating in the discussions, in her personal capacity, Kapur emphasised that "BEPS is a fair tax treatment for all". 

regarding the next steps, Kapur added, "G20, OECD and United Nations (UN) need to break rules in simple easy to understand tenets, help countries (tax administrators) in capacity building and get MNCs on board." 

According to OECD, tax revenue losses from BEPS are conservatively estimated at US $100-240 billion annually, or anywhere from 4-10% of global corporate income tax (CIT) revenues. Given developing countries' greater reliance on CIT revenues as a percentage of tax revenue, the impact of BEPS on these countries is particularly significant. 

Today, tax activists are demanding that MNCs pay their fair share of tax. Aggressive tax planning has dented the brand image of many companies, such as Amazon, Google Apple, and Starbucks. In this context, Kapur said, "The cost for MNCs can be disproportionate to the taxes they are saving Indian stock market astrology prediction

Admitting that BEPS would add a layer of complexity, her take was that if rules are laid down clearly, tax administrators can provide certainty and in turn corporates can manage to get out of litigation and problem areas. 

TOI had earlier reported that high on the list of action plans to be implemented by Indian revenue authorities, is the country-by-country reporting (CBCR) requirement for transfer pricing purposes. MNCs headquartered in OECD or G20 countries (which includes India), with consolidated revenues of at least Euro 750 million (Rs. 5000 crore, approximately) will be required to maintain and furnish CBCRs to their tax authorities. CBCR requires details of the place of incorporation, tax residency, revenues, profits, taxes paid, capital, number of employees and details of activities on a country-by-country basis. As per BEPS action plan, this requirement is recommended for accounting years starting on or after January 1, 2016. 

In this regard, Kapur did not foresee challenges in its introduction as documentation requirements are captured in the Income-tax Rules and not in the Act Share Market Astrology

Many of the panellists were sceptical of the smooth and co-ordinated BEPS implementation across all countries, given its magnitude. As Mukesh Butani, partner BMR legal said, "It is difficult to believe that governments will act consistently." 

When the panellists were asked to rate the BEPS initiative - whether it would lead to celebration or chaos, Kapur said she "celebrated the change in direction." Butani, echoed the sentiments of many MNCs and tax professionals, and gave a rating of four to celebration and six to chaos Jackpot Stocks Trading Tips