Banking Awareness 10 to 17th December 2016 | Financial Affairs which owns 26 per cent stake

Amazon unveils Prime Video service in India

Online streaming will boost up Amazon

• Amazon, the world’s largest online retailer, unveiled in India its streaming video service that could give tough competition to Netflix and home-grown entertainment platforms like Hotstar.
• It would also stream U.S. TV shows, kids programmes and Amazon Original Series such as “Transparent”, “Mozart in the Jungle” and “The Man in the High Castle.”

Amazon TV shows

• Transparent
• Mozart in the Jungle
• The Man in the High Castle

Majority of Indian corporates not disaster-ready

Lack of foresight and planning is major cause

Ninety-six per cent of the corporates in India agree that most the losses from a disaster occur as a direct result of damage to the built environment, lack of foresight and planning, according to a survey by real estate consulting firm CBRE.

97

Per cent of the respondents agreed for periodic audits.

Indians still fancy gold, land, says study

Gold accounted for 49.83 per cent share among physical assets

• The total wealth held by individuals in India rose 8.5 per cent to Rs.304 lakh crore in the financial year and is expected to further increase over the next five years.
• Gold accounted for 49.83 per cent share among physical assets.

Government reforms

• Goods & Services Tax (GST).
• Real Estate (Regulation and Development) Act.

2016 turns third ‘richest’ year for IPOs

The year 2016 was the third-best since 1989 for initial public offers (IPOs)

The year 2016 was the third-best since 1989 for initial public offers (IPOs) in terms of total funds raised, even though the number of public issues was far less compared with many of the earlier years.

2016 Financial year

Best year in total fund raising.

IRCTC to get back control over on-board catering

Railway board to handover catering policy

The Union government has proposed scrapping the catering policy of the previous government by giving back control over catering services in trains to the Indian Railway Catering and Tourism Corporation (IRCTC) from the railway board.

Services

Operating catering services on 49 pairs of trains.

Railways mulls exclusive suburban tracks

New rail tracks for suburbs

• Indian Railways may soon build exclusive rail tracks for suburban trains in a bid to ease congestion.
• The Railways will partner states through a special purpose vehicle (SPV) for suburban train systems.

State will bear the cost of:

• land acquisition,
• leasing of railway land
• resettlement and rehabilitation.

Legislation on GST may miss Winter Session

Roll-out of the GST will not be tabled in the Winter Session

The four pieces of legislation required to be passed by Parliament for the roll-out of the Goods and Services Tax will not be tabled in the Winter Session as the sixth meeting of the Goods and Services Tax Council failed to reach a consensus while meeting has been shifted to December 22-23.

GST

The sixth meeting of the Goods and Services Tax Council.

It is time to leave the history of coal behind

Natural gas is 50% cleaner on emissions than coal

Strict emission standards, an enabling regulatory framework, and a high price on carbon are some of the key ways India can boost its natural gas sector, according to the International Gas Union, a non-profit organisation comprising natural gas majors from around the world.

Coal mining in India

Began in 1774 when John Sumner and Suetonius Grant Heatly.

Urbanising India needs sustainable solutions: Otis

Otis Elevator Company, the world’s leading manufacturer of elevators

Otis India, the subsidiary of Otis Elevator Company, the world’s leading manufacturer of elevators, escalators and walkways, has entered the high-volume elevators market for affordable housing by introducing energy-efficient elevators in the Indian market.

Otis new order

• Mantri Developers
• Indiabulls

I-T eyes more raids, to redeploy tax sleuths

DGs asked to allocate officers to the investigation wing

The Income Tax department is strengthening its investigation arm to probe into the unusual banking transactions and deposits witnessed in the last one month and to help ferret out unaccounted wealth including the new currency notes by conducting raids on suspected persons across the country.

December 30, 2016

The window for depositing old notes ends.

IT sector wants steps for ease of doing business, boosting industry

To boost domestic manufacturing

IT hardware and software industries sought measures to promote ease of doing business and incentives to boost domestic manufacturing.

During pre-budget consultations with Finance Minister Arun Jaitely, IT hardware manufacturers’ body MAIT sought extension of duty differential scheme for laptops, notebooks and servers as well as rebate for consumer buying made in India products to push local manufacturing.

MAIT

IT hardware manufacturers’ body.

SBI sells SBI Life stake to KKR, Temasek

Sold 3.9 per cent stake in SBI Life for Rs.1,794 crore.

State Bank of India sold 3.9 per cent stake in SBI Life for Rs.1,794 crore to Singapore sovereign fund Temasek and global private equity major KKR, valuing the life insurance firm at Rs.46,000 crore ahead of its plans to go public within a couple of years.

BNP Paribas Cardif

which owns 26 per cent stake in SBI life.

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