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owned assets in India Leading telcos hike mobile Foreign rises to $839 bln in Apr-Jun internet rates by up to 100%
NEW DELHI, OCT 5 (PTI): The government is considering a proposal to merge the Forward Markets Commission (FMC) with capital market regulator Sebi to ensure better monitoring of the commodity futures market. “One of the options being considered by the government is merging FMC with Sebi,” said a senior Finance Ministry official. Alternatively, the official said, the government may also pursue the long-pending proposal to give more powers to FMC by amending the Forward Contract Regulation Act (FCRA) Amendment Bill. While FMC is the regulator for commodities trading, while the Sebi regulates the capital markets. The move would also help in improving the regulatory architecture for the futures commodity trading. Earlier the Financial Sector Legislative Reforms Commission (FSLRC) had recommended that Sebi, IRDA, PFRDA and FMC should be merged into a single entity into a unified financial agency (UFA). Last year in September the government had brought FMC under the ambit of the Finance Ministry in the aftermath of a Rs 5,600-crore payment crisis broke out at National Spot Exchange Ltd (NSEL). FMC was earlier under the Consumer Affairs Ministry.
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showroom Delhi) in India. “The Datsun (hatchback) has received positive response. The product is recognised as a quality product and its delivery is up to our expectations,” he said. It is expected to compete with the likes of Maruti Suzuki Ertiga, Honda Mobilio and General Motors’ Enjoy. On Nissan’s ambitions in India, Mr. Sicard said: “We want to increase the sales of our two brands - Nissan and Datsun. Today we are at full speed, we want to continue to grow further.” In the April-September period of the current fiscal, Nissan had registered sales of 25,741 units, as against 12,515 units in the same period last fiscal, up 105.68 per cent. The Indian passenger vehicle market stood at 2.5 million units last year and Nissan had 1.3 per cent market share. Mr. Sicard said the aim would be to meet the target of
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whether to proceed further within one week. In instances where the complaint is against a board level executive, the same would be referred to the department of heavy industry’s chief vigilance officer as BHEL comes under heavy industry and public enterprises ministry. To ensure better corporate governance standards and transparency, the new Companies Act — whose most provisions came into force from April 1 — require companies to have a vigil mechanism for directors and employees to report genuine concerns. The listing agreement between companies and stock exchanges also has a similar provision. The policy took effect at BHEL from September 16.
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Government looking at merging FMC with Sebi
NEW DELHI, OCT 5 (AGENCIES): India, the world’s largest gold consumer, should target five-fold increase in gold jewellery exports to $40 billion by 2020 from the current level of $8 billion, according to the World Gold Council (WGC). The country should also put to use about 22,000 tonnes of gold lying idle with households and temples and reduce its dependence on imports in the next five years, it said. Besides, it should aim creation of five million new jobs across the gold value chain — manufacturing, retailing, assaying and recycling areas, it added. “Our vision for gold is that it should be put to work for the economy, creating jobs, developing skills, generating exports and revenues — an essential part of the financial, economic and social structure of the country,” WGC said in its Vision 2020 for the country. In the next five years, India should target to be ‘jeweller to the world’ and gold jewellery exports from here should increase five-fold to $40 billion from the current level of $8 billion, it said in a statement. WGC said that the country should meet 40 per cent of gold demand from its domestic stocks and the rest 60 per cent through imports and mining. That apart, India should target 75 per cent of gold sold to be standardised and hallmarked in the next five years. It should also provide higher loan to value ratio for hallmarked jewellery and ensure mandatory hallmarking for pieces above a designated selling price, WGC said.
NEW DELHI, OCT 5 (PTI): Japanese auto major Nissan will drive in its second model from the Datsun portfolio, a Multi-purpose Vehicle Go+, in the first part of next year as part plans to enhance its presence. The GO+ is a seven seater MPV and is among the three models under the Datsun brand that Nissan has announced that it would launch by FY16. The company is looking to increase sales of both Nissan and Datsun branded vehicles in India to meet its target of capturing 8 per cent market share in the country, although the timeline has been moved due to the slowdown witnessed in the automobile market in the past couple of years. “The Datsun GO+ will be launched in the first part of next year,” Nissan India operations President Guillaume Sicard told PTI. Mr. Sicard, who assumed the role last week, said the idea was to build up the presence of the Datsun brand in India. Earlier this year, the Datsun brand made a global comeback with Nissan launching its entry level car ‘Datsun Go’ priced between Rs. 3.12 lakh and Rs. 3.70 lakh (ex-
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Friday, with Infosys announcing its Q2 numbers,” said Jayant Manglik, President-retail distribution, Religare Securities. Besides, participants would also keep a track on global market trends, he said. “In coming sessions, global cues and second quarterly results shall be key triggers for market direction,” said Rakesh Goyal, Senior Vice President, Bonanza Portfolio. Stock markets will on Tuesday react to the US jobs data as the unemployment rate dropped to 5.9 per cent, the lowest since July 2008, with as many as 248,000 new jobs added last month. Meanwhile, over the past week, the BSE benchmark Sensex fell by 58.33 points to settle at 26,567.99.
spect of complaint shall also be protected,” it said. However, the policy makes it clear that no protection would be provided from disciplinary action in case the whistle -blower makes “false, motivated or vexatious complaint”. As part of safeguard measures, it has been suggested that “the text of the complaint should be carefully drafted so as not to give any details or clue as to the whistle blower’s identity. “However, the details of the complaint should be specific and verifiable”. Complaints should be addressed to the competent authority or audit committee chairman of the company as the case may be. Then the matter would be referred to the screening committee, which has to take a call on
Nissan to launch Datsun GO+ MPV in 2015
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NEW DELHI, OCT 5 (AGENCIES): Markets will closely track data for India’s services sector, IIP number and quarterly earnings from IT major Infosys in a holiday-shortened week ahead, say experts. Stock markets will remain closed on Monday for Bakri Id. Trend in investment by overseas investors and the movement of rupee against the dollar will also be closely tracked by the investors. “Important set of data and events are lined this week. HSBC Services PMI for August is due on Tuesday. Going ahead, the government will unveil industrial production data for August on Friday. And lastly, the earning season will also begin from
NEW DELHI, OCT 5 (PTI): Adhering to stronger corporate governance standards, state-owned BHEL has put in place a policy for whistleblowers with safeguards to protect their identity and prevent victimization. A leading engineering and manufacturing player, Bharat Heavy Electricals Ltd (BHEL) has interests in diverse areas including power, transmission, renewable energy and defence. With the whistleblower policy, the company also meets existing regulations in this regard. Under the policy, the whistleblower would not be subjected to “victimization” and his or her identity would not be revealed. “Any other employee assisting in the investigation or furnishing evidence in re-
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India should aim at $40 b gold export by 2020: WGC
BHEL comes out with whistleblower policy
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Stock markets to track IIP data, Infosys earnings this week
Indian residents’ financial assets abroad stood at USD 492.8 billion, up USD 10.4 billion from previous quarter due to a rise of USD 11.9 billion in reserve assets. The gap between assets and liabilities in this regard led to the rise in net claims of non-residents on India by USD 12.6 billion to USD 346.6 billion as of June 2014. “This change in the net position reflected a USD 22.9 billion increase in the value of foreign-owned assets in India vis-à-vis a USD 10.4 billion increase in the value of Indian residents’ financial assets abroad,” RBI said. The difference in assets and liabilities, reflected by the net International Investment Position (IIP), is disseminated with one quarter lag. The IIP data is an important input for understanding external sustainability and vulnerability, and is also useful in analysing the economic structure.
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of data usage to 4 paise per 10 kb. This means on Vodafone and Idea network 1 GB of 2G or 3G mobile internet will cost over Rs 4,000 (from Rs 2,000) which these companies under scheme are selling for around Rs 175. Airtel started increasing mobile internet rates around first week of September. The company is now at par with Vodafone and Idea in terms of rack rate which is 4 paise per 10 kb. However, the increase is only of 33 per cent because the company was already charging 3 paise per 10 kb earlier. The 2G data pack rate of Airtel is highest among the three at 10 paise per 10 kb which means cost of 1GB mobile internet usage without any scheme or offer for a subscriber is over Rs 10,000 which company is now selling for Rs 176.
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mobile internet pack to around Rs 175 from about Rs 155 GB. Telecom operators generally don’t make public announcement about increase in mobile tariff. The change is noticed on their website after the new rates are implemented. They generally inform their post paid customer through SMS about change in rates of services before their next billing cycle starts. Pre-paid customers, which constitutes over 90 per cent of market, get to know about rate revision when they go to recharge their mobile phone or through website of companies. Telecom operators are required to report change in tariff to telecom regulator TRAI. Vodafone and Idea Cellular increased rack rate, charged without any offer or scheme, by up to 100 per cent from 2 paise per 10 kb
NEW DELHI, OCT 5 (PTI): Telecom operators have raised mobile internet rates up to 100 per cent in June-September period across country. Airtel is latest to increase mobile rates by up to 33 per cent while Vodafone and Idea have started gradually implementing the increased mobile internet rates from June. The three companies jointly hold around 57 per cent mobile services market share. While no comments were received from Airtel and Idea Cellular, Vodafone India spokesperson said “Around 2 months ago, we changed the base tariff of 2G for 1GB pack from Rs 155 to Rs 175. This has been carried out in a phased manner across circles.” Airtel and Idea too have increased the rate of 1GB 2G
NEW DELHI, OCT 5 (PTI): The foreign-owned assets in India increased by USD 22.9 billion over the previous quarter to USD 839.3 billion during the quarter ended June 2014, according to RBI. This is mainly due to increase of USD 10.6 billion in portfolio investment in India and increase of USD 7.6 billion in direct investment into the country. Among other investment liabilities, currency and deposits increased by USD 2.4 billion and loans (mainly external commercial borrowings) rose by USD 1.2 billion, according to Reserve Bank data on International Investment Position (IIP) for April-June. The ratio of India’s international financial assets to international financial liabilities stood at 58.7 per cent in June 2014 (59.1 per cent in March 2014) On the assets front, the
Nagaland Post, Dimapur MONDAY, OCTOBER 6, 2014
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8
SALES DAY !
Please come and visit us on 8th October 2014 (Wednesday) at Supermarket for Women Department, Lotha Baptist Church, Dimapur is organizing sales day. Special Highlights: Indigenous Lotha food, fruits and goodies, smoked meat, lucky draw and many more. DP-10164
GOVERNMENT OF NAGALAND OFFICE OF THE DEPUTY COMMISSIONER : ZUNHEBOTO
No. JUD - 21/2013-14/16 Dt.Zbto the 24.7.14 Notice Calling Objection to issue of Succession Certificate Smti Phuhoshe Rochill of South Point Colony, District. Zunheboto has applied for issue of a Certificates declaration his legal wife Lt. P. Oholi, who has expired on 20-2-2014. It is hereby notified that if no objection to issue of the Certificate applied for is received from anyone within the period of 30( Thirty) days wef from the date of publication in press. No further complaint shall be entertained for issued of the same. Deputy Commissioner, Zunheboto : Nagaland DP-10183