Impacting Lives of Beginners: Mrs. Neena Bhatia, Principal ABC Public School

Impacting Lives of Beginners: Mrs. Neena Bhatia, Principal ABC Public School

  Who was your inspiration in Childhood ? My father was my inspiration in Childhood. He always preached us that luck sure comes at the door and knocks too but your efforts More »

Top of the Town: Ravindra Bhadana, MLA  Indian politician and a member of the 16th Legislative Assembly of Uttar Pradesh of India

Top of the Town: Ravindra Bhadana, MLA Indian politician and a member of the 16th Legislative Assembly of Uttar Pradesh of India

1. आपका बचपन में प्रेरणा स्त्रोत कौन था? मेरे पूज्य बाबाजी स्वर्गीय श्री रामसिंह जी । जो एक कृषक थे, एक सामाजिक व्यक्ति थे। उन्होंने जिंदगी में मुझे जीना सीखाया। प्ररेणा भी More »

Top of the Town: Mr. Vikram Parakash Lamba, MD American Institute of English Language Pvt. Ltd.

Top of the Town: Mr. Vikram Parakash Lamba, MD American Institute of English Language Pvt. Ltd.

Mr. Vikram Parakash Lamba, MD American Institute of English Language Pvt. Ltd. with 300+ Centers all across India Who was your inspiration in Childhood ? My mother and father were my source More »

Top of the town: Dr. Mohini Lamba, Director in American Kids Play School, Early Childhood Curriculum Developer, Montessori Teachers Trainer

Top of the town: Dr. Mohini Lamba, Director in American Kids Play School, Early Childhood Curriculum Developer, Montessori Teachers Trainer

Who was your inspiration in Childhood ? My inspiration was my family. I was surrounded by educators in my family. Ma Nanaji, Mamaji, my mother everybody was into academics. My Mamaji was More »

Top of the Town: Mrs. Monika Kohli, 52 years young model and actor, into print ads, T.V. commercials and movies

Top of the Town: Mrs. Monika Kohli, 52 years young model and actor, into print ads, T.V. commercials and movies

Who was your inspiration in Childhood ? I always believed that inspiration is from inside and not from outside. Only you can inspire yourself. Outward inspirations are momentary and do not stay More »

Top of the town: Respected Rajendra Aggarwal, MP

Top of the town: Respected Rajendra Aggarwal, MP

  Who was your inspiration in Childhood ? My dad and my uncle were my inspiration in my childhood. Both of them were associated with RSS. They inspired me to join RSS More »

Top of the town: Dr. Vishwajeet Bembi, renowned Physician and Social Worker

Top of the town: Dr. Vishwajeet Bembi, renowned Physician and Social Worker

Dr.Vishwajeet Bembi, renowned Physician and Social Worker Who was your inspiration in Childhood ? My mother was my inspiration in my childhood and she is still my inspiration. My brother had also More »

Top of the town: Mr. Rakesh Kohli, Chairman, Stag International known for sporting goods in different countries of the world.

Top of the town: Mr. Rakesh Kohli, Chairman, Stag International known for sporting goods in different countries of the world.

Who was your inspiration in Childhood ? My grandfather was my biggest inspiration. I had learnt the minutest details of life from him. I learnt a lot from him about business. Like More »

Top of the town: Mr. Prem Mehta, Principal City Vocational Public School

Top of the town: Mr. Prem Mehta, Principal City Vocational Public School

Who was your inspiration in Childhood ? I think in my childhood it was the national leaders like Gandhi ji and Nehru ji who inspired me the most because our exposure at More »

Top of the town: Dr. Mamta Varshney, Lecturer and Poetess

Top of the town: Dr. Mamta Varshney, Lecturer and Poetess

Who was your inspiration in Childhood? Radio was my source of inspiration as I used to listen to loads of music and radio and tape recorder were the only source to listen More »

 

4th Test: Did Steve Smith abuse Murali Vijay?

The ongoing four-match Test series between India and Australia has reached its fag end but it seems the hostilities between the two sides are not going to get over soon.

Now I feel satisfied that I am good across formats: Jadeja

He was always a vital cog in shorter formats but his performance in India’s ongoing Test season has provided Ravindra Jadeja with both “satisfaction and self belief” to make hay in the five-day format.

Rupee jumps 37 paise, storms to fresh 17-month high at 65.04

MUMBAI: Scripting its second biggest single-day gain this year, the rupee on Monday zoomed by 37 paise to close at a fresh 17-month high of 65.04 on the back of panic dollar selling by speculative traders and exporters.

This is the highest closing for the domestic unit since October 28, 2015 when it had closed at 64.93.

Expectations of more reforms that will boost long-term economic growth reinforced investor optimism including the much awaited labour, agricultural and banking reforms.

Robust capital inflows and weakness of the dollar against other currencies overseas predominantly boosted the rupee value against the dollar, a forex dealer said.

Foreign investors have pumped in about $6 billion in capital markets so far this month, buoyed by expectations that BJP’s victory in assembly polls is a precursor to more “bold, reformist policies” in India.

Heightened volatility in greenback characterised foreign exchange market sentiment following the failed passage of the US healthcare reform through the US Congress last weekend.

However, worries of policy gridlock and the possible knock-on effects of that sent global financial markets into a tailspin which expect a radical pro-growth agenda.

Domestic equities couldn’t find the magic and endured a massive sell-off on the back of profit-taking across the spectrum as investors preferred to remain cautious ahead of F&O expiry amid lack of support from global peers.

The home currency resumed on a firm footing at 65.27 from last Friday’s closing value of 65.41 at the Interbank Foreign Exchange (Forex) market.

Maintaining its buoyant momentum, the local unit hit an intra-day high of 65.01 in late afternoon deals before ending at 65.04, showing a massive spike of 37 paise, or 0.57 per cent.

The RBI, meanwhile, fixed the reference rate for the dollar at 65.0892 and for the euro at 70.6739.

The US dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, plunged to a 4-month low of 98.75 in early trade.

In cross-currency trade, the rupee retreated against the British pound and finished lower at 81.89 from 81.68 per pound and softened against euro to settle at 79.67 from 70.66.

It also declined against the Japanese Yen to conclude at 58.99 per 100 yens compared with 58.90 last weekend.

Meanwhile, country’s foreign exchange reserves surged by whopping USD 2.671 billion to USD 366.781 billion for the week ended March 17.

On the equity front, the flagship index dropped over 184 points to end at 29,237.15, while broader Nifty slipped 62.80 points to finish at 9,045.20.

In the forward market, premium for dollar displayed a steady trend in the absence of necessary buying support.

The benchmark six-month premium for August ended steady at 134-136 paise, while the far-forward February 2018 contract settled a tad higher at 286-288 paise from 284-286 paise on Friday.

The forex and money market will remain closed tomorrow on account of ‘Gudhi Padwa’.

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Talking points: Jadeja’s gutsy knock & Smith’s rare failure

Talking points from the third day of the fourth Test between India and Australia at the HPCA Stadium in Dharamsala on Monday.

26 companies want to collaborate with India Post Payments Bank

NEW DELHI: Communications minister Manoj Sinha on Monday said 26 banking and non-banking companies have shown interest to collaborate with India Post Payments Bank.

“The Department is in various stages of discussions with them. A decision on formal partnerships will be taken after carefully evaluating the entire value proposition they propose for the common man,” Sinha said in a reply to a question in the Rajya Sabha.

The India Post Payments Bank had launched its two branches in Raipur (Chhattisgarh) and Ranchi (Jharkhand) on January 30 with basic products and banking services in partnership with the Punjab National Bank.

Some of the banks and non-banking companies that have shown interest to partner with India Post Payments Bank are YES Bank, Union Bank, State Bank of India , Deutsche Bank, Barclays, HSBC and Royal Sundaram.

The payments banks are different from regular banks and are not allowed to undertake lending activities directly.

They can accept demand deposits only that is savings and current accounts and will initially be restricted to holding a maximum balance of Rs 1,00,000 per individual customer.

Following the Reserve Bank of India guidelines for licensing of payments banks, it cannot accept Non Resident Indian deposits. Payment banks cannot set up subsidiaries to undertake non-banking financial services.

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India’s Special Olympics Winter Games champions felicitated

The 89-member strong Indian contingent that returned home with 73 medals from the 2017 Special Olympics Winter Games in Austria earlier this month were felicitated on Monday in the national capital.

India’s Special Olympics Winter Games champions felicitated

The 89-member strong Indian contingent that returned home with 73 medals from the 2017 Special Olympics Winter Games in Austria earlier this month were felicitated on Monday in the national capital.

GST Compensation Fund: Centre to get greater chunk

NEW DELHI: The Centre will have a greater share of the residual amount in the compensation fund at the end of the 5-year period as the GST Bill now provides for equal sharing of the amount as against the earlier formula which favoured states.

According to the Goods and Services Tax (Compensation to States) Bill, as introduced in the Lok Sabha on Monday, they will receive provisional compensation bi-monthly from the Centre for loss of revenue from implementation of GST. The draft law had provided for payment of compensation every quarter.

Tweaking the provision of the draft, which was made public in November 2016, the GST Compensation Bill said that “any residual amount left in the Compensation Fund after five year compensation period shall be shared equally between the centre and the states”.

As per the earlier draft, any excess amount after the end of five year tenure in the ‘GST Compensation Fund’ were to be divided between Centre and states as per the specified formula under which 50 per cent of the excess amount was to be devolved between Centre and States as per statute.

The remaining 50 per cent would have to be given to the states in the ratio of their total revenues from SGST in the last year of the transition period.

The bill, as cleared by the GST Council, has simplified the structure for sharing of the residual amount in the Compensation Fund.

The GST Council, comprising Union finance minister and state representatives, had decided to set up a compensation fund by levying cess on demerit and luxury goods. The proceeds from the fund would be utilized to compensate the states for revenue loss in the initial five years of GST roll out, which is likely from July 1.

The bill also provides for audit of accounts relating to Compensation Fund by the Comptroller and Auditor General. Also the final adjustment of compensation to be paid to the states would be done after audit of accounts of the year by the CAG.

The Bill also stipulates that the base year for calculating the revenue of a state would be 2015-16 and a secular growth rate of 14 per cent would be used for calculating the revenue of each state in the first five years of implementation of GST.

The loss of revenue to a state will be the difference between the actual realisation to a state under Goods and Services Tax (GST) regime and the tax revenue it would have got under the old indirect tax regime after considering a 14 per cent increase over the base year of 2015-16.

It also provides that in case of the 11 special category states, the revenue foregone on account of exemption of taxes granted by states shall be counted towards the definition of revenue for the base year 2015-16.

The revenues of states that were not credited to the Consolidated Fund of the states but were directly devolved to “mandi” or “municipalities” would also be included in the definition of ‘revenue subsumed’, the bill said.

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Sensex skids 184 points, Nifty goes below 9,100, RIL tanks

MUMBAI: Equities started the week on a dull note as the Sensex on Monday tumbled over 184 points to end at 29,237, weighed down by heavyweight RIL, which tanked after Sebi banned the company from equity derivatives trading for one year.

Investors were downbeat amid weak global cues due to heavy losses in Asia and a lower opening in Europe following Donald’s Trump failure to push through his healthcare legislation, traders said.

Falling for the first session in three, the 30-share index stayed in the negative zone throughout the day and settled down by 184.25 points, or 0.63 per cent, at 29,237.15 after touching a low of 29,163.54.

The broader Nifty also succumbed to selling and slipped below the 9,100-mark in early trade to hit a low of 9,024.65 before recovering partially to close 62.80 points or 0.69 per cent lower at 9,045.20.

The rally in the rupee sent IT shares lower. Meanwhile, the rupee hit a nearly 1-1/2 year high to trade at 65.04 (intra-day) against the dollar at the forex market.

Stocks of drugmakers also retreated, with Sun Pharma and Lupin ending lower by up to 1.76 per cent.

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Kolkata to host FIFA U-17 World Cup final

Kolkata will host the summit class of the U-17 World Cup football on October 28 while Navi Mumbai and Guwahati were chosen to stage the semi-finals of the prestigious FIFA tournament the country is hosting for the first time.