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Posted: 17 Feb 2020 07:47 AM PST
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Latest World News, World News, Current Affairs, Daily Current Affairs Posted: 17 Feb 2020 05:02 AM PST
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World News Updates, World News, Current Affairs, Daily Current Affairs, World News Updates Posted: 17 Feb 2020 03:51 AM PST
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financial dictionary pdf - financial terminology dictionary - financial dictionary app Posted: 16 Feb 2020 11:10 PM PST
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Latest Govt Jobs, Sarkari Naukri, Results Posted: 16 Feb 2020 09:50 PM PST
Bihar SSC Pharmacist Result 2020: The Bihar Staff Selection Commission has conducted the Examination for the post of Pharmacist. This recruitment is announced to fill 345 vacancies of the Pharmacist post. The BSSC Pharmacist Exam was conducted on 24th November 2019. Many aspirants have attended the Pharmacist examination and searching for the Bihar Staff Selection Commission examination. Therefore, the organization is planning to declare the Pharmacist Result 2020 in the month of February 2020 (Tentatively). So, all the aspirants can check the Result From this site. We will update the direct link to download the Bihar SSC Pharmacist Result 2020 after the official announcement. BSSC Pharmacist Result 2020 |
Description | Details |
Organization Name | Bihar Staff Selection Commission |
Post Name | Pharmacist |
No of vacancies | 345 Posts |
Category | Sarkari Result |
Exam Date | 24th November 2019 |
Result Date | February 2020 (Tentatively) |
Selection Process | Written Examination, Interview |
Job Location | Bihar |
Official Website | bssc.bih.nic.in |
BSSC Pharmacist Result 2020 – Click Here |
BSSC Sanitary Inspector Result 2020: The Bihar Staff Selection Commission has conducted the Examination for the Sanitary Inspector on 24th November 2019. Many Applicants have applied for this post. After completing the examination candidates are waiting for the BSSC Sanitary Inspector Result 2020. The Board of BSSC is going to release Sanitary Inspector Result in the month of February 2020 (Tentatively). All the Aspirants can download the BSSC Result 2020 from this page.
BSSC Sanitary Inspector Result 2020
Description | Details |
Organization Name | Bihar Staff Selection Commission (BSSC) |
Post Name | Sanitary Inspector (SI) |
No of vacancies | 276 Posts |
Category | Sarkari Result |
Exam Date | 24th November 2019 |
Result Date | February 2020 (Tentatively) |
Official Website | bssc.bih.nic.in |
BSSC Sanitary Inspector Result 2020 – Click Here |
BSSC Cut Off Marks 2020
We will update this page with the BSSC Cut Off Marks 2020 once the officials will provide the details on their official website. The BSSC Cut Off Marks 2020 is the minimum qualifying marks that a candidate gained in the written test. The Cut off Marks will be given based on the categories of SC, ST, BC, OC. Candidates who have got the highest marks have a higher priority to go for the further selection rounds. Aspirants can get their BSSC Cut Off Marks 2020 here.
BSSC Merit List 2020
In this section, candidates can know the detailed information about the BSSC Merit List 2020. The BSSC Merit List 2020 specifies the maximum marks that are scored by the candidates in the Written Examination. Aspirants must download the BSSC Merit List 2020 and check accordingly with the details of the Name of the candidates, Prescribed Roll Numbers. Further, aspirants can know the result downloading process in the below section.
How to Download BSSC Result 2020?
- Go to the official site of Bihar Staff Selection Commission @ bssc.bih.nic.in.
- Now, the home page of Bihar SSC displays on the screen.
- On the home page, check for Notice Board Section and then click on it.
- Later, the latest updates of the Notice board section appears on the page.
- Refer to the BSSC Result 2020 and click on view Result.
- Download it and take a hard copy for future use.
Posted: 16 Feb 2020 08:22 PM PST
AIIMS Recruitment 2020 Notification – 803 New Vacancies
AIIMS Recruitment 2020 Notification – Apply Online for 803 Operation Theater Assistant, Stenographer & Other Vacancies: All India Institute of Medical Sciences (AIIMS) announces a fresh AIIMS Recruitment 2020 Notification recently. As per this job advertisement, AIIMS is looking to fill up 803 vacant positions of Operation Theater Assistant & Professor posts. Candidates interested in AIIMS Jobs can apply online through below given apply online links. Working at AIIMS is a matter of pride for so many doctors. Therefore, submit your duly filled application forms through Online/Offline mode before the last date i.e. 12th March 2020. Check other informational content about AIIMS Vacancy details and others in the below article.
Post Name & Openings | Last Date to Apply | Apply Link |
Operation Theater Assistant, Stenographer & Other – 803 | 12th March 2020 (LIVE) | AIIMS Delhi Recruitment 2020 |
Professor – 84 | 15th February 2020 (CLOSED) | AIIMS Patna Professor Recruitment 2020 |
Senior Residents – 78 | 12th February 2020 (CLOSED) | AIIMS Bhopal Senior Resident Recruitment 2020 |
Nursing Officer – 206 | 12th February 2020 (CLOSED) | AIIMS Patna Nursing Officer Recruitment 2020 |
Assistant Professor – 34 | 07th February 2020 (CLOSED) | AIIMS Bhopal Assistant Professor Recruitment 2020 |
AIIMS Delhi Recruitment 2020
All India Institute of Medical Science, Delhi has released its new notification. It is planning to hire 803 candidates for Operation Theater Assistant, Stenographer & Other vacancies. For this, the officials are inviting online applications from eligible candidates. Candidates can also refer to the AIIMS Delhi Notification for more details. Eligible candidates can start applying online from 28th January 2020. The last date to apply and send your applications online is 12th March 2020. Candidates must have completed Graduate/MS/ MD/ MCh to be eligible for these posts.
AIIMS Recruitment – Overview
Name of the Organization | All India Institute of Medical Sciences, Delhi |
Number of Vacancies | 803 Posts |
Name of Post | Operation Theater Assistant, Stenographer & Other |
Starting date of application | 28th January 2020 |
Closing date of application | 12th March 2020 |
Education Qualification | Graduate/ MBBS/MS/ MD/ MCh |
Job Category | Delhi Government Jobs |
Job Location | Delhi |
Application process | Online Procedure |
Official Website | www.aiimsexams.org |
Official Notification and Apply Online Link | Download Here |
AIIMS Patna Professor Recruitment 2020
All India Institute of Medical Science, Patna has released its new notification. It is planning to hire 84 candidates for various Professor vacancies. For this, the officials are inviting online applications from eligible candidates. Eligibility can be found by reading the details below. Candidates can also refer to the AIIMS Patna Notification for more details. Eligible candidates can start applying online from 28th January 2020. The candidates are also supposed to send their applications via post. The last date to apply and send your applications offline is 15th February 2020. Candidates must have completed MS/ MD/ MCh to be eligible for these posts. The salary offered for AIIMS jobs is very good.
AIIMS Recruitment – Overview
Name of the Organization | All India Institute of Medical Sciences Patna |
Number of Vacancies | 84 |
Name of Post | Professor |
Starting date of application | 28th January 2020 |
Closing date of application | 15th February 2020 |
Education Qualification | MS/ MD/ MCh |
Job Category | Bihar Government Jobs |
Job Location | Patna |
Application process | Online & Offline Procedure |
Official Website | www.aiimspatna.org |
Official Notification and Apply Online Link | Download Here |
AIIMS Bhopal Senior Residents Recruitment 2020
All India Institute of Medical Science, Bhopal has released its new notification. It is planning to hire 78 candidates for various Senior Resident’s vacancies. For this, the officials are inviting online applications from eligible candidates. Eligibility can be found by reading the details below. Candidates can also refer to the AIIMS Bhopal Notification for more details. Online applications for AIIMS Recruitment in Bhopal has started. The candidates are also supposed to send their applications via post. The last date to apply and send your applications offline is 12th February 2020. Candidates must have completed MS/ MD/ MCh to be eligible for these posts. The salary offered for AIIMS jobs is very good.
Overview of AIIMS Recruitment – Bhopal
Name of the Organization | All India Institute of Medical Sciences Bhopal |
Number of Vacancies | 78 |
Name of Post | Senior Residents |
Starting date of application | 28th January 2020 |
Closing date of application | 12th February 2020 |
Education Qualification | MS/ MD/ MCh |
Job Category | Madhya Pradesh Government Jobs |
Job Location | Bhopal |
Application process | Online & Offline Procedure |
Official Website | www.aiimsbhopal.edu.in |
Official Notification and Apply Online Link | Download Here |
AIIMS Patna Nursing Officer Recruitment 2020
AIIMS Recruitment for Nursing Officer has begun. Candidates who were waiting for AIIMS jobs can now stop searching. The AIIMS Patna notification has released and there is an announcement for 206 vacancies. These vacancies are for the post of Nursing Officer. Online applications are invited through the AIIMS Recruitment notification. Interested candidates can read all the details below and also refer to the official notification for more details. Candidates can start applying from 14th January 2020. The last date to apply for AIIMS Recruitment is 12th February 2020. The job location is in Patna. Candidates must have completed their BSc and must be between the age of 21 to 30 years to be eligible for this AIIMS Job in Patna. The officials are offering a very good salary for these posts. Candidates will be selected based on their performance in the written test as well as a skill test.
AIIMS Recruitment – Overview
Name of the Organization | All India Institute of Medical Sciences Patna |
Number of Vacancies | 206 |
Name of Post | Nursing Officer |
Starting date of application | 14th January 2020 |
Closing date of application | 12th February 2020 |
Education Qualification | BSc |
Job Category | Bihar Government Jobs |
Job Location | Patna |
Application process | Online Procedure |
Official Website | www.aiimspatna.org |
Official Notification and Apply Online Link | Download Here |
AIIMS Bhopal Assistant Professor Recruitment 2020
All India Institute of Medical Sciences, Bhopal has released its job circular. There are 34 vacancies for Assistant Professor posts. Candidates are asked to send their application form through Email to the ID provided. Interested candidates can start applying soon. The last date to apply for this AIIMS Recruitment in Bhopal is 07th February 2020. Interested candidates can get all the details below. They can also refer to the official AIIMS Notification. Candidates selected will be placed in Bhopal, Madhya Pradesh. Interested candidates must have completed their medical qualification with post-graduation and must be below the age of 50 years to be eligible for this post. The selected candidates will be offered Rs. 1,00,000/- per month. Start applying now for AIIMS Recruitment.
AIIMS Recruitment – Overview
Name of the Organization | All India Institute of Medical Sciences Patna |
Number of Vacancies | 34 |
Name of Post | Assistant Professor |
Starting date of application | Started |
Closing date of application | 07th February 2020 |
Education Qualification | Medical Qualification/ PG |
Job Category | Madhya Pradesh Government Jobs |
Job Location | Bhopal, Madhya Pradesh |
Application process | Online & Offline Procedure |
Official Website | www.aiimsbhopal.edu.in |
Official Notification and Apply Online Link | Download Here |
AIIMS Nagpur Jobs 2020
AIIMS Nagpur Recruitment 2020 – Apply Online || 104 Nursing Officer (Staff Nurse Grade-II), Principal and Lecturer Job Vacancy. All India Institute of Medical Sciences has announced 104 Vacancies for Staff Nurse Grade-II Post. AIIMS Online Application is available from 15th December 2019. Eligible aspirants will be selected on a Direct recruitment basis. Candidates who are willing to apply for this AIIMS Vacancy can submit your application before the closing date 14th January 2020. Individuals applying for Nursing Officer Vacancy should fulfil the prescribed conditions as per the AIIMS Notification. Here we have given the eligibility details, pay scale, vacancy & other details regarding Grade II Jobs. Refer to this section before starting with the application procedure.
Overview of AIIMS Nagpur Nursing Officer Jobs 2020
Organization Name | All India Institute of Medical Sciences (AIIMS), Nagpur |
Name of the Posts | Nursing Officer (Staff Nurse Grade-II), Principal and Lecturer |
No.of. Vacancies | 104 Posts |
Starting Date to Apply | 27th December 2019 |
Last Date to Apply | 14th January 2020 |
Apply Mode | Online mode |
Job Category | Central Government Jobs |
Job Location | Nagpur, Maharashtra |
Official Website | aiimsnagpur.edu.in |
AIIMS Vacancy 2020 Details
Name of the Post | No. of. Vacancies |
Nursing Officer | 100 |
Principal | 03 |
Lecturer | 01 |
Total | 104 |
AIIMS Nagpur Staff Nurse Vacancy Details
Category | Vacancy |
UR | 43 |
OBC | 27 |
ST | 07 |
SC | 15 |
EWS | 10 |
PWD | 04 |
Total | 104 |
Eligibility Criteria for AIIMS Nagpur Recruitment 2020
Educational Qualification:
- Nursing Officer – B.Sc Nursing from Indian Nursing Council from recognized University.
- Principal – Masters in Nursing with advanced specialization in nursing, must be registered as Midwife and nurse.
- Lecturer – Masters in Nursing from recognized institute/university, must be registered as Midwife
Age Limit for AIIMS Nagpur Jobs:
- Principal Maximum Age Limit – 55 Years
- Lecturer Maximum Age Limit – 50 Years
- Nursing Officer Between 18 to 30 Years
Application Fee:
- Candidates can refer to the AIIMS Nagpur Recruitment Notification for more information.
Salary Details:
Name of the Post | Pay Scale |
Nursing Officer | Level 7: Rs.44,900 to Rs. 1,42,400/- Per Month |
Principal | Level 13: Rs.1,23,100 to Rs. 2,15,900/- Per Month |
Lecturer | Level 11: Rs.67,700 to Rs. 2,08,700/- Per Month |
Selection Process
- Written Test/ Skill Test/
- Interview.
How to Apply Online for AIIMS Recruitment 2020?
- Click on the Apply Online Link given below.
- Fill the application form with the required details.
- Enclose the scanned copies of the required documents.
- Pay the respective application fee through proper mode.
- Recheck the details entered in and submit the application.
- Take a print out of duly filled application for future reference.
Important Dates for AIIMS Nagpur Recruitment 2020
Starting Date to Apply | 27th December 2019 |
Last Date to Apply | 14th January 2020 |
Important Links for AIIMS Notification 2020
Official Notification | Download Here |
Apply Online Link | Click Here |
Official Website | Click Here |
AIIMS Rishikesh Jobs 2019
AIIMS Recruitment 2019 – Apply Online for 372 Nursing Officer Job Vacancy. All India Institute of Medical Sciences has announced 372 Vacancies for Staff Nurse Grade-II Post. AIIMS Online Application is available from 09th November 2019. Eligible aspirants will be selected on a Direct recruitment basis. Candidates who are willing to apply for this AIIMS Vacancy can submit your application before the closing date 24th December 2019. Individuals applying for Nursing Officer Vacancy should fulfill the prescribed conditions as per the AIIMS Notification. Here we have given the eligibility details, pay scale, vacancy & other details regarding Grade II Jobs. Refer to this section before starting with the application procedure.
AIIMS Rishikesh Nurse Recruitment 2019 – Overview Details
Organization Name | All India Institute of Medical Sciences (AIIMS), Rishikesh |
Name of the Posts | Nursing Officer (Staff Nurse Grade-II) |
No.of. Vacancies | 372 |
Starting Date to Apply | 09th November 2019 |
Last Date to Apply | 24th December 2019 |
Apply Mode | Online mode |
Job Category | Central Government Job |
Job Location | Rishikesh, Uttarakhand |
Official Website | www.aiimsrishikesh.edu.in |
AIIMS Vacancy 2019 Details
Name of the Post | No. of. Vacancies |
Nursing Officer | 372 |
Total | 372 |
AIIMS Rishikesh Staff Nurse Vacancy Details
Category | Vacancy | Backlog Vacancy |
UR | 32 | 118 |
OBC | 20 | 99 |
ST | 11 | 40 |
SC | 05 | 11 |
EWS | 07 | 29 |
Total | 75 | 297 |
Eligibility Criteria for AIIMS Nursing Officer Recruitment 2019
Educational Qualification:
- B.Sc. (Hons.) Nursing or B.Sc. Nursing or B.Sc. (Post-certificate) or Post Basic B.Sc. Nursing or
- Diploma in General Nursing Midwifery with 2 experience in minimum 50 bedded Hospital
- Registered as Nurses & Midwife in State/ Indian Nursing Council.
Age Limit for AIIMS Rishikesh Jobs:
- Minimum Age Limit – 21 Years
- Maximum Age Limit – 30 Years
Age Relaxation:
- OBC – 3 Years
- SC/ ST – 5 Years
- PWD Candidates
- General – 10 Years
- OBC – 13 Years
- SC/ ST – 15 Years
Application Fee:
Category | Application Fee |
Uttarakhand (Domicile) – UR | Rs. 1500/- |
Other than Uttarakhand (Domicile) – UR | Rs. 3000/- |
Uttarakhand (Domicile) – OBC | Rs. 750/- |
Other than Uttarakhand (Domicile) – OBC | Rs. 1500/- |
SC/ ST | Rs. 500/- |
PWBD Candidate | No Fee |
Salary Details:
- Basic Pay – Rs. 9300 – Rs. 34800/-
- Grade Pay – Rs. 4600/- [Level 7 as per 7th CPC (₹44900-142400)]
Selection Process
- Written Test/ Skill Test/ Interview.
How to Apply Online for AIIMS Recruitment 2019?
- Click on the Apply Online Link given below.
- Fill the application form with the required details.
- Enclose the scanned copies of the required documents.
- Pay the respective application fee through proper mode.
- Recheck the details entered in and submit the application.
- Take a print out of duly filled application for future reference.
Important Dates for AIIMS Staff Nurse Job 2019
Starting Date to Apply | 05th November 2019 |
Last Date to Apply | 24th December 2019 |
Important Links for AIIMS Notification 2019
Official Notification | Download Here |
Registration Link | Click Here |
Apply Online Link | Click Here |
Official Website | Click Here |
Why Recruitment.Guru for AIIMS Recruitment 2020?
Recruitment.guru is India’s No. 1 Job Search Engine that provides every job notifications released by AIIMS Recruitment 2020. Recruitment.guru helps you to stay notified with every job release of All India Institute of Medical Sciences (AIIMS). We ensure that you will never miss any updates released by AIIMS Vacancy 2020. Applicants just need to visit our website www.recruitment.guru and get notified with AIIMS Jobs 2020. Grab your opportunity for AIIMS Career 2020 here.
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economic news of india - world economic news - economics news for students - indian economy news
Posted: 16 Feb 2020 08:42 PM PST
economic news of india - world economic news - economics news for students - indian economy news |
- Telcos make their own AGR bill, the dispute all set to flare up
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Telcos make their own AGR bill, the dispute all set to flare up Posted: NEW DELHI: Bharti Airtel and Vodafone Idea have assessed their adjusted gross revenue (AGR) dues at about half the amount that the Department of Telecommunications (DoT) has demanded, likely setting the stage for another dispute between the companies and the government, said people with knowledge of the matter.Initial calculations at Bharti Airtel peg the dues at Rs 15,000-18,000 crore, instead of more than Rs 35,500 crore estimated by DoT. Vodafone Idea's initial computation puts it at Rs 18,000-23,000 crore against DoT's Rs 53,000 crore estimate. Cash-strapped Vodafone Idea is likely to pay only a part of the amount in the next few days, said one of the persons. The company had in a statement on Saturday once again warned of the continuing threat to its viability in the absence of judicial relief."The reason for the difference in estimates is because even by calculating their AGR according to the Supreme Court verdict of October 24, there are certain errors such as duplication of certain items, as per DoT's definition," said the person cited above. "Thus, certain items still don't make it to the list, and the interest on those items plus the penalties go down."A news agency reported that Bharti Airtel, Vodafone Idea and Tata Teleservices may pay some of their dues as early as Monday. 74166934 Department of Telecommunications to Decide on Next Step TodayLower principal will lead to a reduction in interest and penalties. Of the DoT estimated dues of more than ?89,000 crore for the two telcos, interest and penalties account for 75%."This (the self-assessment) itself is a very tedious process — it requires the companies to open their records in a circle-wise manner for the last 16 years and add those items, the penalty and interest thereof and so on," said a telecom executive.DoT may issue fresh notices for the balance dues if the telcos' estimates don't match their own, or take other action against them for not paying up on time, officials said. The course of action will be decided on Monday since the telcos hadn't paid by the Friday midnight deadline some of the circle offices had set. Some other circle offices had sought 'immediate' payment.Under the rules, DoT can encash bank guarantees submitted by telcos for unpaid dues and can even cancel licences as a final step. 74166938 Vodafone Idea and Bharti Airtel didn't respond to queries. Airtel sources said that the telco's self-assessment shows the dues to be "significantly lower" than DoT's estimates.Bharti Airtel has already raised more than $3 billion through a private placement of shares and an overseas bond issue to meet its AGR obligations.Rights IssueVodafone Idea can use Rs 2,826 from its Rs 25,000 crore rights issue proceeds for AGR payments. In addition, the company can call upon Vodafone UK to cough up Rs 8,000 crore towards payment of AGR dues. The telco's books show cash and cash equivalents of Rs 23,114 crore as of December 2019.The telco also expects about Rs 4,500 crore from the sale of its stake in the Bharti Infratel-Indus Towers merged entity. But that depends on when the merger will close, with the deal already delayed pending government clearances. It also hopes to sell its optic fibre and data centres but those deals may take a while to close as well.The telcos have come under increasing pressure to pay their dues urgently after the Supreme Court on Friday rapped them and the government for non-payment by the January 23 deadline.The court threatened the telcos with contempt proceedings and personal appearance of their top executives unless dues were paid by the next hearing, which is set for March 17. This prompted Bharti Airtel to say it would be paying ?10,000 crore by February 20 and the balance — as per its own assessment— by March 16.Vodafone Idea said it was assessing what it could pay as part of its dues and plans to do so in the next few days. However, in the same statement, the company once again warned of the continuing threat to its viability in the absence of judicial relief in the dues.On Friday, Vodafone Idea chairman Kumar Mangalam Birla met telecom minister Ravi Shankar Prasad to discuss the situation. The telco has been highlighting the negative impact on the telecom ecosystem and the jobs that will be lost if telco is forced to shut.Bharti Airtel, Vodafone idea and Tata Teleservices have been trying to get relief from the Supreme Court on the latter's verdict of October 24 that widened the definition of AGR to include non-core items. This left 15 telcos facing Rs1.47 lakh crore in dues, with Bharti Airtel, Vodafone Idea and Tata Teleservices the worst hit.Internal AssessmentTata Tele's internal assessment also shows the dues to be "significantly lower" than DoT's estimate of nearly ?14,000 crore, said another person. An email sent to the company didn't elicit a response.After their review petition against the October order was rejected, these telcos filed a modification plea with the apex court, hoping to be allowed to negotiate a longer payment tenure and waiver of interest and penalties with the DoT.At a hearing of the modification plea on Friday, the top court asked why they shouldn't be prosecuted for contempt for not paying their AGR dues by the deadline.After being rebuked by the Supreme Court on Friday, the DoT also sent out letters on Friday and Saturday to all telcos, asking them to make AGR payments "immediately," failing which "necessary action will be taken in terms of provisions of the License Agreements." |
I-T may ask NRIs to explain 'bloated' income Posted: MUMBAI: The drive to tax "stateless persons" could fast become a cat and mouse game between the government and many NRIs. As the implications of the proposed law sink in, there is a creeping fear that from next year the income tax department will question NRIs on 'unrealistic' overseas earnings.Since a decade — particularly, after the passage of the Black Money Act in 2015 — several Indians became NRI to generate fake overseas income such as trading profits, consultancy fee, and fat salaries to legitimise undisclosed funds stashed abroad. Such people will be in a spot as they may have to justify their income."The burden has now shifted to assessees to prove that they earned abroad as 'bona fide workers'. This is in line with the government's press release, though no such term exists in the law," said senior chartered accountant Dilip Lakhani.The government's press release issued a day after the Budget, assuring that "bona fide workers" will not be taxed on what they earn abroad is a veiled hint to other NRIs that have to justify their bloated overseas income. Till now the tax office has not taken such a stand. According to the Finance Bill 2020, any Indian citizen who is not liable to tax in any other country or territory shall be deemed to be resident in India. Such residents will have to pay tax on overseas income and disclose foreign assets. 74166972 Retrospective Implementation"But, all NRIs are not bona fide workers. They earn income from business, executive positions or as promoter of foreign JVs. The word 'bona fide' without objective test will create difficulties. This could trigger multiple litigations," said Lakhani.People who became NRIs to whitewash unaccounted wealth structured their transactions to lend an air of legitimacy.For instance, against bogus invoices they generated fake trading income, and often layered the transactions through multiple companies to make the amount profit generated at each level believable.Some used their Indian business entities to make overseas direct investments (ODI) — allowed up to four times the new worth with the total amount split into a small equity and large loan — and brought back undisclosed overseas funds as capital gains and interest on loans. Others joined as senior executives or directors earning absurd fees and salaries. Questioning these earnings would mean going beyond salary certificates or tax residency certificates obtained from abroad."However, verification of income of NRIs for preceding years would amount to investigation being done from a retroactive perspective. To avoid litigation it is advisable to define what is 'bona fide'," said Mitil Chokshi, partner at Chokshi & Chokshi LLP, a tax consultancy and forensic firm. Though tax officials cannot give a restrospective effect to the law for period prior to FY 20-21, there is nothing that stops them from referring such cases to the agencies which probe money laundering activities.The proposed law on stateless persons and the new residency rule could however pose hurdles for many genuine businessmen. Ambiguity on who are 'genuine workers' would be an issue for many in the gems and jewellery business where family members serve as directors in their own companies in Dubai, Hong Kong and Belgium, said Nirav Jogani, Partner at RSM Astute Consultech."In most cases one brother would have a company in India and another brother might have a company in Dubai or HK or Antwerp. These NRI businessmen keep on traveling to different countries for procuring rough diamonds and may not fulfil the condition of residency in a particular country. He may have economic interests in different countries and family members in different countries. All these situations would lead to complexities and disputes," said Jogani.An NRI establishing her fiscal domicile status in another country, would be required to stay in that country — which could be UAE or Singapore or HK — for a minimum number of days. "If tax assessing officers go beyond tax residency certificate issued by another country and checks the number of days spent there, in some cases it may be difficult to prove as passports are not stamped for e-visas. Also, financial year for most countries is January to December. So a person who spends the first three months (January to March), and the last three months (October to December) in Singapore will be considered a resident by Singapore authorities. But will Indian rules require him to spend 182 days in Singapore between April and March for establishing Singapore as his fiscal domicile?" said a senior lawyer.Under the proposed residency rules, any citizen of India or persons of Indian origin overstaying for 120 or more days on visit to India will be considered as resident whose global income would be taxed by Indian authorities.However, the I-T office may simultaneously insist that an NRI spends a minimum number of days in another country to avoid being labeled as "stateless". |
Will money spoil your love? 10 signs will tell Posted: With a heady Valentine's and a deadly Virus in the air, immunity against either would seem difficult. Yet, a simple way to keep heartbreak and ill health at bay would be to spot the symptoms and sidestep these on time. Like love and malaise, money too can spawn misery, especially when it comes to relationships. And much in the same manner, you can avoid anguish by watching out for warning signs.Given that money conflicts are often cited as a prime reason for divorce, it would appear elementary to identify and resolve these while dating. Yet, money is often the last thing on a cavorting couple's mind while seeking compatibility. Even as the dating duo seeks similarities in personalities and habits, they refuse to look for common financial ground. "To sustain a relationship, it is important for a couple to be on the same page when it comes to financial values," says Mrin Agarwal, Founder & Director, Finsafe. These would include the same outlook on saving, spending, investing risks, loans, and approach to goals, among other things.It can be argued that since the root of most financial conflicts lies in the person's psyche, a personality match can take care of money fracas. However, most complex and insidious traits that tend to remain hidden in daily interactions, emerge with ease in financial dealings. So it is easier to identify these if you are on the lookout for financial red flags. For instance, trying to dictate financial behaviour to a partner or looking down upon his or her spending choices is a clear indicator of deep-seated complexes or psychological issues. It is best to separate from such a partner while dating instead of wracking your head over the issue after marriage.Besides, these red flags will serve as a beacon for a mind muddled by sentiment. Love may be a haze that heightens your senses, but it can also cloud your reasoning. "When you are in love or in the early stage of dating, you tend to believe and justify everything about your partner," says Agarwal. This story, then, is meant to serve as a red alert for the hormonally hampered couples so that they can find financial focus.We list for you some of the common and not-so-obvious financial red flags—actions, habits and behaviour patterns—that can hint at bigger problems you may or may not be able to rectify in the future. These dating alerts are intended to help you put a finger to the problem and take remedial measures to secure your finances and relationship. We also tell you whether a behaviour or money situation warrants a break-up or not. So even as you enjoy your love-fuelled outings, keep an eye open for these red flags.1. Refuses to split money on outingsIf, even after the first four or five dates, your partner shows little inclination to share the expenses, take it as a sign of things to come. Either (s)he is not serious about the relationship or expects to be financially supported by you for the rest of his or her life. "When we started going out last year and the bill was presented to Yash each time, I used to get irritated," says Snehal Ravasia, the 30-year-old investment banker, who started dating in August last year and is set to marry him this month. They either split the bill or alternated between paying these.Unwillingness to split money not only reflects scant respect for the partner's commitment and money, but could also point at a person who is not earning too well or saving enough. He could even be a freeloader who is not fully invested in the relationship. If this continues for long, it's a good idea to move on. 74148134 Yash and Snehal, MumbaiYash Sotta, 35, Marketing manager: For the wedding, we openly talked about our individual resources and agreed on how much we would spend.Money personality: Impulsive spender, stable job, risk-takerSnehal Ravasia, 30, Investment bankerMoney personality: Planner, saver, conservative investorSweet spots:Both share same financial values.Are splitting expenses for the impending wedding.Open to suggestions about each other's financial habits.Red flags: Spending and saving habits could pose a challenge.Scope for improvement?Need to build more financial assets and share information in greater detail.2. Lies about moneyLying is a form of financial infidelity that can destroy a relationship. If your date has lied to you about sundry things, this behaviour can stretch to finances as well. It can range from small lies like hiding cash to bigger ones like concealing debt, lying about salary, and secret purchases or accounts. It can have serious consequences like upsetting the budget, or failure to meet goals like retirement. Lying typically springs from guilt or is an act of rebellion against the other partner's controlling behaviour, or simple fear about the partner's reaction to an impulsive act.Also read: What your date's money traits can tell youCan you live with financial deception in your partner? "You can tolerate differences in financial values only up to a point. There are some traits you are born with, while other issues are too deep-seated to be rectified by talking and discussing," says Agarwal. So be realistic about salvaging the situation, talk to the partner more often and don't try to force your way in the relationship. If you see an improvement and can ignore minor lies about spending, continue. If not, move on. 74148152 Mohsin and Aanchal, DelhiMohsin Iqbal, 27, Marketing managerMoney personality: Planner, saver, good communicatorAanchal Dahiya, 24, Content developer: He keeps advising me on the need to spend less and save more, but explains patiently and is never rude or angry about it.Money personality: Spender, self-sufficient, disciplined about paymentsSweet spots:No secrets, easy communication about money.Fair split of money on outings.Not dependent on parents or each other.Red flags: One is a saver, the other spender. Could lead to friction later.Scope for improvement?Should start building assets, save for goals like marriage.3. Refuses to talk about financesA big red flag to keep your eyes peeled for is a partner's refusal to discuss finances even after you have been going around for a few years and are serious about taking your relationship to the next level. "Reluctance to talk about money in the initial stages of dating is natural; in fact, it would be awkward if someone displayed too keen an interest in your finances right at the beginning," says Taresh Bhatia, Certified Financial Planner.However, displaying an unwillingness, irritability or anger while talking about money even after a few years of dating is a definite warning sign. "Typically after marriage, most men are hesitant to share information about finances, be it income, expenditure or investments," says Agarwal.Refusal to discuss could spring from a desire to retain financial control in partnership, or due to embarrassment about failed investments, or the sheer inability to manage money and admitting it to the partner. If a man earns less than a woman, the reluctance to talk could be from a feeling of insecurity or an act of rebellion. It would, however, be foolish if you detect this behaviour early on and do not take definitive action.If the refusal is due to controlling behaviour, it's best to split because the nature is unlikely to change and could be damaging for your mental and financial health. If you have tried talking several times without any progress, try counselling. If that doesn't work or the partner refuses to go for it, it is best to snap the bond and move on. 74148163 Viraj and Khyati, MumbaiViraj Shah, 26, BusinesspersonMoney personality: Disciplined about debt and bill payments, careful spenderKhyati Vasa, 26, Businessperson: We are on the same financial wavelength since we have known each other for eight years and talk out our differences.Money personality: Financially aware, disciplined investorSweet spots:Both consult each other about their purchases.Don't go overboard on gifts, giving only what the other needs or wants.Work together, have no debts.Red flags: Disagreements over going overboard in shopping and eating out.Scope for improvement?Should start taking investment decisions together, set up financial goals.4. Has no assets despite years of workIf your partner has been working for 4-5 years and has no asset, physical or financial, see it as a red flag. "If a young, single earner is not investing at least 50% of his salary, has not formulated goals and is not saving for them, it should serve as a warning," says Bhatia. It shows financial irresponsibility and lack of planning, and could lead to poor money management or inability to meet financial goals after marriage.While it's unfair to expect someone at the start of his career to buy a house or a car, (s)he should have financial assets, such as mutual fund investments or fixed deposits. These hint at foresight and willingness to plan for goals. "We are paying for our wedding from our savings," says Yash Sotta, 35, a marketing manager in Mumbai. He also has his own car and camera equipment. Even depreciating assets like a bike or laptop bought with one's money should be seen as a positive sign of earning capacity and financial independence.5. Borrows frequently from you or parentsDo you dislike month-ends because your partner invariably seeks a handout to help sail through the month? If (s)he frequently runs out of money and looks for financial help or bridge loans from you or his own parents, it's best to be cautious. While a rare financial crisis is understandable, it is not acceptable to live beyond one's means and spend more than you earn, on a regular basis. Such chaotic money management and lack of budgeting will not allow you to save and eventually derail your financial goals."I have a much lower income compared to my boyfriend's, and I often go overboard with my shopping. So I feel the need to borrow from him and my parents every month, but I never do it," says Aanchal Dahiya, a 24-year-old Delhiite, who is learning to save, thanks to the gentle prodding from her partner. Also read: 7 money signs you are dating the wrong person6. Can't retain a job for longKolkata-based Sharad Kumar is into his seventh job in five years and, at `25,000 a month, it's not the most high-paid of salaries as well. "I have expertise in a niche field that has very few takers at present," explains the 29-year-old. Little wonder then that his fiancee's parents had an issue about him marrying their daughter. It is indeed a matter of concern if your partner is unable to hold on to a job for long. It could indicate not only a lack of professionalism or expertise in the chosen field, but also an inability to cohabit or get along with co-workers. This is unlikely to bode well for a long-term relationship, besides the fact that a stunted career growth may not result in financial stability after marriage. This could spark fights and force you to split. It's better to take a call on this issue before marriage and part ways if there is unlikely to be an improvement in the partner's career prospects.7. Expensive gifts, flashy lifestyle"We have never given each other gifts that are not needed or are unlikely to be used," says the Mumbai-based businessperson Khyati Vasa, 26. Her boyfriend of eight years, Viraj Shah, is in complete agreement."If your partner is giving expensive gifts and taking you to fancy places even though he doesn't have a high income, you should question it," says Bhatia. It could point at a spendthrift nature which may be difficult to change. You may think he will tone down after marriage, but it will not happen, adds Bhatia.You should also pay attention to his lifestyle, the kind of clothes and accessories he wears or the vehicle he drives, as these may hint at an extravagant lifestyle that is not commensurate with his salary. Listen carefully to how he talks about money as well. "If he is only talking about how he wants to spend, not about how he wants to save or invest, be wary," says Bhatia.8. Is always late for paymentsNot paying your credit card bills on time and in full, being late for utility payments or missing insurance premiums or loan EMIs are all indicative of a lazy, procrastinating or a disorganised person. These traits could prove to be the nemesis for a partner who wants to lead a stable, organised financial life and reach one's goals without hiccups.It may seem like a frustrating habit to get used to in a partner, but can be remedied. "I have automated all my bill payments, except for the credit card, which I pay in full and on time," says Sotta. So, while you need to be cautious about such a partner, it should not be a cause for splitting.9. Dictates financial behaviourOne of the worst personality traits that should put you on an instant alert is manipulative behaviour in a partner. Does your date dictate how you should save or spend, what you should buy or wear, where you should invest? If you try to contradict him or have your own way with money, does he react violently, sulking for days?If your answer to any of these questions is a 'yes', it is an unambiguous cue for you to get out of the relationship at the earliest. "If you allow your date to plan your finances even before marriage, you will have no freedom, financial or otherwise, afterwards," says Agarwal."Mohsin is never rude or forces me to cut on my spending, but explains very gently why I need to curb it," says Dahiya of her boyfriend. It's the reason she has decided to start saving and be more careful about how she spends.10. Follows investing tips blindlyYou can't expect to know all about your partner's investing habits right after you start dating. However, if you see him take advice on markets or other investment avenues from all and sundry, and follow it blindly, sit back and think.If a person does not have the expertise to invest and follows market tips or tax advise from unprofessional sources, it is a surefire way of losing money. While it is not a big enough reason to dump your date, you should sit together to have a talk on how approaching a financial adviser may be a better option. If he agrees, you are good to go. |
Toyota banks on Maruti to stay in key segments Posted: Mumbai: The masses and the classes are spectral ends too wide apart for a Japanese car maker to straddle in India, and Toyota seems better off relying on the leader Maruti to retain its identity in the more competitive segment of the layered and complex home market. Toyota has exited the sub Rs 10 lakh segment here, having mothballed Etios and Liva. Instead, it sold about 20,000 units of Glanza sourced from Maruti, and will be adding its own version of Vitara Brezza and Ertiga during the course of 12-18 months, helping match the 2019 sales of 1.25 lakh units this year.The compact SUV based on Vitara Brezza is likely to hit the roads in the second half of 2020, followed by the Ertiga version of Toyota – 6-8 months after the introduction of SUV, say people in the know. Toyota and Suzuki had entered into a global alliance in 2017 and India is at the centre of this partnership. Last year, Etios and Liva accounted for a monthly volume of about 2,000 units, which over a period of time has been compensated by Glanza (a rebadged Maruti Suzuki Baleno) that averaged around 2,200 units a month. The SUV and MPV, sourced from Suzuki, could help expand volumes multi-fold. Naveen Soni, senior vice president, Toyota Kirloskar Motor, declined to comment on specific product but told ET that the company plans to expand the product line-up in a sustainable and phased manner. 74166950 "We believe that important alliances such as ours, will pave the way for introduction of competitive and cutting-edge products and technologies in India, giving customers varied choices of products to meet their ever-growing expectations. The partnership complements each other's thrusts on new technologies from the futuristic world of alternative and connected technologies that could drive the next generation of passenger vehicles," added Soni.The company said the auto industry has been passing through a rough patch and the shift towards BS-VI emission norms too was not that easy. Toyota believes that the next few months may turn out to be highly volatile and challenging for the auto industry. "The industry growth is most likely to pick up by the third quarter, as consumers would take time to accept BS-VI technology, and the associated costs," he added.To cushion the price increase on account of BS-VI emission norms, the company has decided to adopt a step wise price increase for diesel vehicles. It has only passed on 50% of cost increase to the customers.Under BS-VI, the company has already reached monthly bookings of new Innova. The company's manufacturing plant has completely transitioned to BS-VI emission norms and despatch of all BS-VI vehicles has begun by the end of January 2020. Even as the demand comes back, the company will focus on expanding the number of customer touch points with special emphasis on service outlets including mobility solutions, like leasing for hassle free usership experience and digitize sales operations in dealer outlets. |
DHFL used bizman Sudhakar Shetty as conduit to siphon off Rs 3,000 crore Posted: MUMBAI: Dewan Housing Finance Corp (DHFL) promoters Kapil and Dheeraj Wadhawan had used businessman Sudhakar Shetty as a conduit to siphon off at least Rs 3,000 crore of the Rs 12,000 crore they had allegedly moved out of the mortgage lender, people privy to the probe into the matter said.The brothers, who are being probed separately by the Serious Fraud Investigation Office and the Enforcement Directorate (ED), had used several conduits to float a maze of shell companies though which the money was channelled out, they said. While DHFL, which is now undergoing insolvency proceedings, sanctioned loans to some of these shell companies, the others were allegedly used to route the funds raised as loans for laundering, evergreening of loans or siphoning off to acquire assets, they said.The ED, which probes money-laundering cases, late last month raided the offices and residence of Shetty in connection with the probe. 74167355 "Like in the case of Shetty, his company, Darshan Developers, acted as an intermediary. DHFL sanctioned loans to at least six shell companies floated by Shetty. These six companies then bought stakes in Darshan Developers. Erstwhile Wadhawan Realtors (now, Kyta Advisors Pvt Ltd) held a stake in Darshan Developers," said an official privy to the probe details. "So, while Shetty was the director of Darshan Developers, the said firm was used as a front by the Wadhawans to route the loans which were availed of from their NBFC, DHFL," he added.The ED had summoned Shetty, but he had not turned up for questioning so far. Darshan Developers didn't respond till press time Sunday to an email seeking comment. While Shetty wasn't reachable for comment, the Wadhawans had earlier denied all allegations against them.Documents and other filings of these six companies seen by ET show that Notion Real Estate Pvt Ltd, Earleen Real Estate Developers Pvt Ltd, Prashul Real Estate Pvt Ltd, Edweena Real Estate Pvt Ltd, Wamika Real Estate Pvt Ltd and Prithvi Residency Pvt Ltd, to which DHFL sanctioned loans in fiscal 2016-17, had bought stakes in Darshan Developers the same financial year.Notion Real Estate was sanctioned a Rs 360 crore loan on May 23, 2016 for a project under a Slum Redevelopment Authority (SRA) scheme in Mumbai. A plot in suburban Mumbai was mortgaged against this loan. Later in the same financial year, Notion Real Estate bought shares of Darshan Developers for Rs 344.59 crore, according to the documents.On the same date, May 23, 2016, DHFL granted another loan of Rs 675 crores to Earleen Real Estate Developers, where too the mortgaged asset was the same plot located at Vile Parle. The only difference was in the area cited in the loan documents. For the Notion Real Estate loan, the plot size was shown as 9,444.52 sq metres, while for the second loan, it was given as 15,000 sq metres. In the same fiscal year, Earleen Real Estate Developers spent Rs 623.73 crore to buy a stake in Darshan Developers, show the documents. |
Solar rooftop developers move tribunal on net metering Posted: Bengaluru: Developers of solar rooftop projects have challenged the Karnataka power regulator's order in December seeking to do away with net metering for commercial and industrial consumers.Net metering allows developers to sell electricity to the grid and deduct its value from their bill for the power drawn from the distribution company. The government encourages this system to promote renewable energy, but discoms in several states are hostile to this because they lose revenue for each unit of privately generated power.Major developers including Amplus Solar, Fourth Partner Energy, Renew Power and Cleantech Solar have separately moved the Appellate Tribunal for Electricity against the order, people in the know said."They are proposing new models, influenced by Bescom (Karnataka's main discom — Bengaluru Electric Supply Co). I suspect Bescom wants to buy any power we generate at a tariff much lower than that it charges for the power it supplies, and hence opposes net metering. The price it sets may well be so low that no projects can actually happen," said a developer, requesting anonymity."The price is fixed by the KERC (Karnataka Electricity Regulatory Authority) based on the cost of panels that is available in the market. They will correlate that to the investment cost. Bescom will not get into the pricing issue," a senior official at the discom told ET. Calls and a message sent to the KERC chairman remained unanswered as of press time Sunday.The developer said KERC's December 9 order went against the spirit of the Electricity Act 2003, and if implemented it would strengthen the monopoly of discoms.The KERC has ordered gross metering instead of net metering, where two separate unidirectional meters are installed — one for the power the entity buys and consumes from the discom, and the another for the power it produces and supplies. The tariff for the power supplied by the discom is likely to be much higher than the tariff at which it buys power from the same consumer, according to developers.The KERC order pays lip service to the importance of renewable energy, but its content in fact discourages it, industry insiders said."The Government of Karnataka, under its solar policy 2014-21, has set a target of 2400 MW for grid connected rooftop generation projects to be achieved by March 2021," the order said.The KERC order includes a proposal to levy an additional surcharge and a cross subsidy surcharge on rooftop projects. "The commission is also of the view that the sale of energy by the third-party investor to the consumer attracts the payment of cross subsidy surcharge and additional surcharge," the order says. Such charges have not been imposed on rooftop projects anywhere else in India so far and "doing so would increase the tariff by 60%", the developer said."Not only is our business seriously impacted, these new regulations will also impede the aspirations of the people of Karnataka to adopt rooftop solar," Amplus Solar chief commercial officer Sharad Pungalia said.It is unclear as to whether the order will be applicable for future projects, commissioned projects or both.Karnataka has installed 388 MW of solar rooftop projects so far, according to data collected by renewable energy consultancy firm Bridge To India.The state power regulator had in 2018 tried to reverse a waiver on transmission and wheeling charges it had granted to open access projects, which too had irked developers.ReplyForward |
Talking Stock: Hold KRBL, L&T; add HDFC Bank, Nestle India Posted: By G ChokkalingamFounder, Equinomics Research & AdvisoryI have KRBL and Nucleus Software at price of Rs 520 and Rs 505, respectively. I have been holding these for 1.5 years. The stocks are trading nearly at 50 per cent of purchase price. Does it make sense to hold them for long term? -NITINYou may hold KRBL with a target price of around Rs 345, which is a fair valuation of 15x FY2020 estimated earnings of Rs 23. However, if the pending income tax case turns in favour of KRBL, then you may revise target price upward to over Rs 400. Considering significant business drawn from Far East and South East Asia (which is negative in the short-term due to spread of Covid-19) and also comparative valuation and business size, you may sell Nucleus Software and buy Cyient with a target price of around Rs 576, which is 12x FY2021E EPS of Rs 48.My age is 37. I have 58 shares of L&T for my retirement, which is 18 years away. Can I add moreRs Average cost is Rs 600. -ASHISH CHOWDHRIYou may continue to hold present holding and also add now as L&T stock, after recent fall, trades attractively around 16 PE on one-year forward earnings. However, if you are considering continuously adding for the next 18 years, you may prefer stocks like HDFC Bank and Nestle, which offer better sustained growth visibility with lower long-term cyclical risks relatively due to their business nature and leadership positions.I have around 2,600 shares of DHFL at an average price of Rs 100. Is there any likelihood that the stock price might rise and I can reduce my loss or should I sell it off immediately? -ANAND SIt is highly doubtful whether you can recover your cost of investment as this NBFC is sitting on over Rs 90,000 crore of liability and it is not certain whether it can generate any significant surplus for the shareholders after selling the loan assets and settling its own liabilities. However, having lost 90 per cent of your capital, you may hold the stock if you can take further risk as its current market cap is just around Rs 315 crore, and even if the company generates over a thousand crore rupees worth surplus value after hiving off loan assets and settling the liabilities, your loss in the stock could be minimised significantly.I have100 shares of Welcast Steels, bought at Rs 550. Can I hold the same for long term? -H N JAJUThough it made net loss in the latest quarter, you may still hold the stock till you recover the cost considering its past performance and the strong business performance of its parent company (AIA Engineering).I have 880 shares of Karur Vysya Bank at Rs 112 and 440 of Karnataka Bank at Rs 149. Should I hold till I recover my loss or exit? -PRAKASHA vast majority of old private sector banking stocks have fallen by more than 50 per cent in the last two years due to rising provisions for the bad loans. However, both these banks have a successful track record for about a century and hold business size of more than Rs 1 lakh crore, but trade at just Rs 2,000 crore to Rs 3,000 crore market caps. While you may hold Karur Vysya Bank, you may add significant quantity of Karnataka Bank to reduce your average costs. While Karur Vysya Bank trades around 1x its adjusted book value, Karnataka Bank, at current price, has about 50 per cent discount to adjusted book value. Moreover, Karnataka Bank doesn't have any significant exposure to the telecom sector, offers a dividend yield of about 4.5 per cent, still maintains over 7 per cent year-on-year business growth and most importantly, it has proposed issue of bonus shares, which reflects management's confidence on its ability to service its existing equity base.I hold 1,000 shares of Sequent Scientific at an average cost of Rs 70. There is talk of promoters selling a controlling stake in the company. What should I do? -RAJENDRANSequent Scientific trades at a fair valuation of around 21 PE on one-year forward earnings. Hence, you may book profits in two or three phases if it rises 5-10 per cent from the current level.Is it the right time to invest in National Peroxide againRs I have 50 shares at Rs 3,200 each. -PIYUSH SONII do not advise investing in National Peroxide at current price as there is no significant recovery in hydrogen peroxide prices after massive fall from 2018 peak prices. Actually, you may consider exiting the stock now as it has posted a net loss in the latest quarter and the stock is unlikely to recover unless the hydrogen peroxide prices recover substantially.I have 100 shares of Suven Life purchased at Rs 26 long time back. Please advise whether to add or reduce. -P R SHENAIPost de-merger, valuation of Suven Life Sciences doesn't look attractive and hence, book profits in two or three phases as the stock moves up further.I have bought shares of Neuland Laboratories at Rs 454 per piece. Is it a good bet given pharma sector has a bright future ahead as said by some experts? -UTSAV CHAUDHARYYou may hold Neuland Laboratories considering the recent improvements in the operating parameters with a target price of around Rs 550.Please send your queries on Stocks to et.stocks@timesgroup.com; Mutual Funds to et.mfs@timesgroup.com; Tax to et.tax@timesgroup.com; Insurance to et.insurance@timesgroup.com; Realty to et.realty@timesgroup.com. |
F&O strategy to bet on Airtel for those who want to risk it Posted: Rich traders with a risk appetite could initiate a bull call ladder spread on the options of Bharti Airtel, which has hit fresh highs after the Supreme Court AGR hearing Friday. The SC ordered the telcos to pay up the dues to the department of telecommunications (DoT). Bharti Airtel has raised the funds to meet the liability.The strategy comprises purchasing a call option at 560 strike, selling one 590 and 600 strikes each. All options expire on February 28. The sale of the out of the money (OTM) calls reduces the upfront cost of the 560 call but adds an element of risk if the stock expires sharply above Rs 620 in the current series, which analysts consider unlikely. Also, if Bharti trades below or at Rs 566.7, the loss is limited to the upfront premium paid.Using Friday's closing prices, the 560 call costs Rs 16.7 a share (1,851 shares equal one contract), the 590 ( Rs 6) and the 600 call Rs 4.The sale of the two OTM calls fetches the trader Rs 10, which cuts the cost of the purchased 560 call to Rs 6.7. That's the maximum loss if Bharti falls below the lower breakeven point (LBEP) of Rs 566.7 after which profit begins. The maximum profit is Rs 23.3 and happens if Bharti expires or trades at Rs 590-600. Each point above Rs 600 reduces the profit until Rs 623.3 after which unlimited losses begin since an extra call has been sold at the Rs 600 strike. To avoid this, a buyback stop loss could be placed at above Rs 630.If Bharti expires at 600, the purchased 560 call is Rs 40 in the money and the sold 590 call is Rs 10 ITM while the 600 sold call expires worthless. After adjusting for debit the 560 call is in the money (ITM) by Rs 33.3 while the sold 590 call is 10 ITM. After paying out the call purchaser, the trader is left with Rs 23.3 (ex-brokerage and taxes).If, however, Bharti expires the series at Rs 650, the 560 call adjusted for debit is ITM by Rs 83.3. The sold 590 call is worth Rs 60 and the sold 600 call worth Rs 50. Together the payout to the call buyers is Rs 110 a share, leaving the trader with a loss of Rs 26.7 (110-83.3).At the UBEP of Rs 623.3, the 560 call is 56.6 ITM. The sold 590 is Rs 33.3 and the sold 600 call is 23.3 ITM, resulting in a payout to them of Rs 56.6, leaving the trader with zero gains."The options play in leading telcos makes sense as stocks like Bharti have run up and also during the second half of expiry OTM options tend to see more rapid fall in implied volatility, increasing the chances of gain," said Amit Gupta, derivatives head of ICICI Direct, who suggests the call ladder.Rajesh Palviya, derivatives head of Axis Securities, also said the strategy was "sound" and risk limited. |
Chunk of revenues still comes from IT's legacy products: Experts Posted: Mumbai: Legacy technology-based services and products will continue to constitute a meaningful part of revenue for IT service providers even as the share of digital business is growing at a faster pace – this was the general view at an ET roundtable organised at the Nasccom summit on Friday.CP Gurnani of Tech Mahindra, Keshav Murugesh of WNS Global Services and Cyient BVR's Mohan Reddy discussed how their companies, and the industry in general, were handling legacy businesses when the focus is increasingly turning towards emerging technologies in areas like cloud, blockchain, machine learning, artificial intelligence, cyber security, quantum computing and IoT."The old has not extinguished as fast as people have always thought. Mainframe still exists," Tech Mahindra managing director Gurnani said."The transformation or digital adoption is not new. What we have noticed is that if there is a job replacement, it is substituted by a better job. If there is a process change, it has only created a better demand." His company reported a 10.6-percentage-point increase in digital revenue in the quarter through December from three months earlier, accounting for 41% of overall revenue.74168047 Cyient chairman Reddy said clients of the engineering and technology solutions company were continuing to improve upon their legacy software and hardware infrastructures rather than replacing those entirely with new, digital products."It's not like they are dumping off old design work and asking us to make new products… The legacy continues. There are a few areas where the new technologies are disrupting the old. Otherwise they are augmenting it and they will work with each other," he said.Aerospace and defence contributes close to a third of Cyient's revenue.Reddy said clients in the sector were looking at rewiring existing aeroplane engine architecture, which costs about $3 billion to build, with new digital technologies. Engines typically have a life space of 40 years, he said."They are at this point making sure to incorporate new digital technologies to get new applications. A good example could be engine health monitoring systems — sensors are placed to provide the ability to crunch data to understand the behaviour of the engine during a flight." |
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Today Crunch News, News Updates, Tech News
Posted: 16 Feb 2020 05:19 PM PST
Today Crunch News, News Updates, Tech News |
- Original Content podcast: ‘Mythic Quest’ is a likable comedy with a single standout episode
- With the development of generalized AI, what’s the meaning of a person?
- Is tech socialism really on the rise?
Original Content podcast: ‘Mythic Quest’ is a likable comedy with a single standout episode Posted: 16 Feb 2020 01:38 PM PST There’s plenty to like about “Mythic Quest: Raven’s Banquet,” a new series on Apple TV+ — its sympathetic-but-critical portrayal of the video game industry, its goofy-but-likable characters and a couple of big surprises that come at the end of the season. But what really stood out to us — as we discuss on the latest episode of the Original Content podcast — was a single episode, “A Dark Quiet Death.” Without getting into spoilers, it’s probably safe to reveal that the episode mostly stands apart from the rest of the season, telling a self-contained story about two characters (played by Jake Johnson and Cristin Milioti) who, after they create a quirky horror video game that turns into a surprise hit, discover that success isn’t all its cracked up to be. Where the rest of “Mythic Quest” is a broad comedy (with the aforementioned likable characters and surprising plot), “A Dark Quiet Death” is more of a drama that quietly — but agonizingly — portrays the tensions between commerce and art. And if we have a criticism, it’s that the episode’s achievement can make the rest of the show feel a little silly in comparison. We also discuss Anthony’s interview with the creators of the show and how “Mythic Quest” might have been shaped by the involvement of video game company Ubisoft. And before we begin the review, we react to this year’s Oscars. You can listen in the player below, subscribe using Apple Podcasts or find us in your podcast player of choice. If you like the show, please let us know by leaving a review on Apple. You can also send us feedback directly. (Or suggest shows and movies for us to review!) And if you’d like to skip ahead, here’s how the episode breaks down: 0:00 Intro |
With the development of generalized AI, what’s the meaning of a person? Posted: 16 Feb 2020 11:33 AM PST For the next installment of the informal TechCrunch book club, we are reading the fourth story in Ted Chiang's Exhalation. The goal of this book club is to expand our minds to new worlds, ideas, and vistas, and The Lifecycle of Software Objects doesn't disappoint. Centered in a future world where virtual worlds and generalized AI have become commonplace, it's a fantastic example of speculative fiction that forces us to confront all kinds of fundamental questions. If you've missed the earlier parts in this book club series, be sure to check out:
Some questions for the fifth story in the collection, Dacey's Patent Automatic Nanny, are included below. And as always, some more notes:
Thinking about The Lifecycle of Software ObjectsThis is a much more sprawling story than the earlier short stories in Exhalation, with much more of a linear plot than the fractal koans we experienced before. That wider canvas offers us an enormous buffet of topics to discuss, from empathy, the meaning of humanity, and the values we vouch for to artificial entities, the economics of the digital future, and onwards to the futures of romance, sex, children, and death. I have pages of notes from this story, but we can't cover it all, so I want to zoom in on just two threads that I found particularly deep and rewarding. One core objective of this story is to really interrogate the meaning of a "person." Chiang sets up our main character Ana as a mother of a digital entity (a "digient") who was a zookeeper in a past life. That career history gives us a nice framing: it allows us via Ana to compare humans to animals, and therefore to contextualize the personhood debate around the digients throughout the story. On one hand, humans uniquely value themselves as a species, and even the most dedicated digient owner eventually moves on. As one particularly illuminating passage discusses when a digient’s owner announces that his wife is pregnant:
This owner has made a clear distinction: there is only one form of entity worth caring for, only one thing that a human can consider a person, and that is another human. Indeed, throughout this short story, Chiang constantly notes how the tastes, values, norms, rules, and laws of human society are designed almost exclusively with humans in mind. Yet, the story never takes a definitive stance, and even Ana is not at all convinced of any one point of view, even right up to the end of the story. However, the narrative does offer us one model to think through that I thought was valuable, and that's around experience. What separates humans from other animals is that we base decisions on our own prior experiences. We collect these experiences, and use them to guide our actions and drive us toward the right outcomes that we — also from experience — desire. We might want to make money (because experience tells us that money is good), and so we decide to go to college to get the right kind of learning in order to compete effectively in the job market. Essential to that whole decision is lived experience. Chiang makes a very clear point here when it comes to a company called Exponential, which is interested in finding "superhuman AI" that comes without the work that Ana and the other owners of digients have put in to raise their entities. Ana eventually realizes that they can never find what they are looking for:
Indeed, as the owners start to think about when they might offer their digients independence to make their own decisions, experience becomes the key watchword. Their ability to make their own decisions in the context of past experiences is what defines their personhood. And so when we think about generalized artificial intelligence and the hope of creating a sentient artificial life, I think this litmus test starts to get at the real challenge what this technology can even be. Can we train an AI purely through algorithms, or will we have to guide these AIs with their open but empty minds every step of the way? Chiang discusses this a bit earlier in the story:
Indeed, Ana and the other main character Derek are forced to keep pushing their digients along, assigning them homework and guiding them to new activities to continue propelling them to get the kind of experience they need to succeed in the world. Why should we assume a generalized AI wouldn't be any less lazy than a child today? Why would we expect that it can teach itself when humans can't teach themselves? Speaking about children, I want to head over to the other thread in this story I found particularly trenchant. Clearly, there is a whole parallel to real-life human childrearing that is sort of intrinsic to the whole story. I think that's obvious, and while interesting, a lot of the conclusions and meanings from that concept are obvious. What's more interesting is what affection and bonding signifies in a world where entities don't have to be "real." Ana is a zookeeper who had deep affection for the animals under her care ("Her eyes still tear up when she thinks about the last time she saw her apes, wishing that she could explain to them why they wouldn't see her again, hoping that they could adapt to their new homes.") She vigorously defends her relationship with those animals, as she does with the digients throughout the story. But why are some entities loved more than others if they are all just code running in the cloud? The main digients featured in the book were literally designed to be attractive to humans. As Blue Gamma scans through the thousands of algorithmically-generated digients, it carefully selects the ones that will attract owners. "It's partly been a search for intelligence, but just as much it's been a search for temperament, the personality that won't frustrate customers." The reason of course is obvious: these creatures need attention to thrive, but they won't get it if they are not adorable and desirable. Derek spends his time animating the avatars of the digients to make them more attractive, generating spontaneous and serendipitous facial expressions to create a bond between their human owners and them. Yet, the story pushes so much harder on this theme in layers that connect with each other. Derek is attracted to Ana throughout the story, even as Ana stays focused on developing her own digient and keeping her relationship with her boyfriend Kyle going. Derek eventually realizes that his own obsession with Ana has become untenable, which is a subtle parallel to Ana's own obsession with her digients:
Indeed, the book's strongest thesis may be that this sort of love just isn't reproducible. Ana wants to join a company called Polytope in order to raise funding to port her digient to a new digital platform. As part of the employer agreement, she is expected to wear a "smart transdermal" called InstantRapport that uses chemical alterations in the brain to rewire a human's reward centers to love a specific individual automatically. Ana's love for her digient pushes her to consider rewiring her own brain to get the resources she needs. And yet, the digients eventually develop similar thought processes. Marco and Polo, two digients owned by Derek, eventually agree to be copied as sex toys, in order to provide funding for the port. Their clones will have their "reward maps" rewired to make them love the customer that purchases them. The story gives us a haunting reminder that we are ultimately a bunch of neurons that respond to stimuli. Some of that stimuli is under control, but much of it is not, instead programmed by our experiences without our conscious intervention. And there we see how these two threads come entwined together — it is only through experience that we can create affection, and it is precisely affection and therefore experience that creates a person in the first place. Some questions for Dacey's Patent Automatic Nanny
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Is tech socialism really on the rise? Posted: 16 Feb 2020 07:53 AM PST In Part 1 of my conversation with Ben Tarnoff, co-founder of leading tech ethics publication Logic, we covered the history and philosophy of 19th century Luddites and how that relates to what he described in his column for The Guardian as today's over-computerized world. I've casually called myself a Luddite when expressing general frustration with social media or internet culture, but as it turns out, you can't intelligently discuss what most people think of as an anti-technology movement without understanding the role of technology in capitalism, and vice versa. At the end of Part 1, I was badgering Tarnoff to speculate on which technologies ought to be preserved even in a Luddite world, and which ones ought to go the way of the mills the original Luddites destroyed. Arguing for a more nuanced approach to the topic, Tarnoff offered the disability rights movement as an example of the approach he hopes will be taken by an emerging class of tech socialists. TechCrunch: The Americans with Disability Act has been a very powerful body of legislation that has basically forced us to use our technological might to create physical infrastructure, including elevators, buses, vans, the day-to-day machinery of our lives that allow people who otherwise wouldn’t be able to go places, do things, see things, experience things, to do so. And you’re saying one of the things that we could look at is more technology for that sort of thing, right? Because I think a lot about how in this society, every single one of us walks around with the insecurity that, “there but for the grace of my health go I.” At any moment I could be injured, I could get sick, I could acquire a disability that’s going to limit my participation in society. Ben Tarnoff: One of the phrases of the disability rights movement is, “nothing about us without us,” which perfectly encapsulates a more democratic approach to technology. What they’re saying is that if you’re an architect, if you’re an urban planner, if you’re a shopkeeper, whatever it is, you’re making design decisions that have the potential to seriously negatively impact a substantial portion of the population. In substantial ways [you could] restrict their democratic rights. Their access to space. |
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