May 2016 – My Blog

Mumbai/Kolkata: country financial institution of India (SBI) suggested its sharpest quarterly profit drop in five years on Friday however cheered buyers through pronouncing that fewer than feared of its loans risked turning sour.

A easy-up call given by way of the Reserve bank of India (RBI) has caused a surge in banks’ bad loans in the beyond two quarters, forcing them to set apart more finances and leading to losses at extra than a dozen state-run lenders.

RBI leader Raghuram Rajan needs the lenders to have fully cleaned up their balance sheets through March 2017, after complaint that the banks had been no longer efficaciously classifying distressed property for years.

SBI, which accounts for approximately a quarter of India’s loans and deposits, stated on Friday its terrible mortgage provisions extra than doubled from a year in advance to Rs 12,139 crore ($1.81 billion). That led to a worse-than-expected sixty six in line with cent drop in net earnings to Rs 1,264 crore for its fourth region to the end of March.

The bank, which had Rs 1,37,000 crore worth of confused loans as of March, said it had placed any other Rs 31,000 crore of loans from sectors which includes metallic and strength below “special watch” reputation for capability problem.

Chairman Arundhati Bhattacharya said 70 according to cent of the watch list loans ought to turn non-appearing inside the worst case, while she delivered that the determine would be as little as 30 in line with cent if the economy improves.

shares in SBI jumped 6.4 according to cent, their biggest benefit in almost 3 months, at the shorter than expected watch list.

“they’ve now not said that every one the pain is long gone, however indicated that the worst could be over,” said Mr Siddharth Purohit, a banking analyst at Angel broking in Mumbai.

“it really is a large high-quality,” he said of the dimensions of the watch list of loans.

Canara financial institution and Indian overseas bank — other country-run lenders which also suggested on Friday — reported fourth-region losses and a long way better bad-loan ratio than SBI.

to date, a total 14 kingdom-run creditors have said mixed losses of $three.8 billion after the RBI-ordered smooth-up.

Kolkata: The proposed merger of SBI with its five partner banks and Bharatiya Mahila financial institution (BMB) will cause financial savings, enhance treasury operations and reduce redundancies, its Chairman Arundhati Bhattacharya said on Friday, pegging the price of the merger technique at around Rs 3,000 crore.

“overall, the merger may be superb for merged entity because it will result in financial savings, improve treasury operations and get rid of the redundancies,” she said at a news conference here.

The 5 companion banks are state bank of Bikaner and Jaipur, country financial institution of Travancore, state bank of Patiala, state bank of Mysore and country bank of Hyderabad.

earlier, SBI had merged state bank of Saurashtra and kingdom bank of Indore with itself.

“we’ve got sought permission from the government to begin the negotiations. We tried to assess how the merged entity will appear like and there can be no impact on capital and NPAs,” Bhattacharya said.

She said that BMB would bring in Rs 1,000 crore of capital while revaluation of constant property of the accomplice banks might fetch another Rs seven-hundred crore.

To a query, she stated any merger has its challenges. “we can should take gain of that and convert it to an possibility,” she stated, adding that the cost of the merger process might be around Rs three,000 crore.


Bengaluru: India may have eight-10 very competitive public quarter banks as soon as the “dirt settles” and the consolidation section ends, Union Minister Jayant Sinha stated on Friday. presently, there are 27 country-owned banks within the usa.

“we’re doing all the things vital to honestly make certain that these banks are vibrant, are competitive and a large kind of reform schedule we have underway for the banks right now… and of course we’re now in the 0.33 phase of that,” the Union Minister of kingdom for Finance said.

“we have gone thru governance and management reforms, we’ve got long past via the asset excellent assessment…and now we are inside the consolidation segment in which we are simply looking to make sure that at the end of this consolidation phase, we have a fixed of competitive banks,” Sinha said, speakme at an occasion organised by using Indian software program Product enterprise spherical desk (iSPIRT).

“we have 27 public quarter banks proper now. whilst the dust settles, I suppose we are able to have may be eight or ten very competitive banks. some of them are going to be large scale international gamers, a number of them are going to be differentiated banks,” he said.

What the u . s . wishes at the give up of the day is to make sure economic inclusion does not suffer and at the equal time we’ve got aggressive institutions, he said.

He delivered that if we allow our public area establishments like banks, Air India, BSNL/MTNL languish in order that they’re not aggressive, it’s miles akin to a “de facto privatisation”.

“in this de facto privatisation, instead of the price of those firms constructed up over many years with public cash going to the general public, it is going to the disruptive entrepreneurs or whoever it is who are capable of take proportion far from those public region companies…,” he said.

“There may be de facto privatisation of wealth. We may also have a few billionaires due to this, but in the long run it is those who might be struggling,” he stated.

Recalling high Minister Narendra Modi’s message approximately the role of government as a trustee of humans’s wealth, Mr Sinha said, “because the trustee of humans, we can’t permit all the cost inside the public region pass into the private sector because that contributes to inequality and choppy distribution of wealth.”

iSPIRT had organised a dialogue with Sinha as part of its programme to release a “policy hack” that pursuits to demystify policy bulletins and regulatory framework for startups and entrepreneurs.

Responding to a question, Mr Sinha said the trouble with public region banks in India turned into that they have got “big” fixed fees and seventy five according to cent of it’s far labour.

The marketplace proportion of public quarter banks is losing pretty “dramatically” and the technique of humans moving from public to private region is going on, forcing public area to respond, he stated.

In response to some other question regarding ordinary financial properly-being of residents, Sinha stated, “we are trying to function in tracks. Securing the population at fundamental stage and presenting sufficient room for innovation, new merchandise.”

On online-most effective digital banks, he stated, “you’ll see greater of that.”

speakme at the entrepreneurial environment, Mr Sinha stated we have to create no longer just a globally aggressive economy, however also an innovation-driven system.

“….much like the united states is the entrepreneurial engine for pinnacle one thousand million people in the world, India must be the entrepreneurial engine for the next six billion people… we do now not have a preference in this depend. We need to do it no longer just for India, however international at big,” he said.

mentioning that ninety five consistent with cent of project capital in India comes from foreign places, Mr Sinha stated to be an innovation-driven economy, we’ve to build up our own home mission capital industry and institutions.

Mr Sinha was also asked a question at the tussle between IIM-Ahmedabad and Flipkart regarding joining dates of a few students from the institute.

“We know what simply occurred with Flipkart. What do you watched goes to manifest in the IIMs and IITs now? Do you think everyone goes to need to paintings for a startup?

each person wishes task protection… but for the government its now not a job, it is a service,” he said

Later, Mr Sinha together with Union urban development Minister Venkaiah Naidu reviewed Mudra, Jan-Dhan Yojana and pension schemes with bankers right here.

additionally they allotted loans to small entrepreneurs. “Karnataka has met 2 hundred per cent of its Mudra target.

Mudra loans worth Rs eight,984 crore have been given in 2015-16,” he said. He additionally said the number of inactive debts in Jan-Dhan Yojana has come down “notably”.

New Delhi: under the FATCA and CRS, financial establishments (FIs) can now acquire self-certification thru net banking platform from the person account where the patron has transaction rights, the CBDT stated on Friday.

“Representatives of FIs have knowledgeable that there are massive quantity of economic debts and it’s miles nearly very tough to bodily obtain the self-certification from the account holders. it has been asked to offer alternative channels to achieve self-certification,” CBDT stated in a declaration.

“In view of the above, it has been determined that self-certification can also be acquired via net Banking platform from the person account in which the purchaser has transaction rights,” it said.

The significant Board of Direct Taxes (CBDT) in addition clarified that valuation of securities may be completed on the values frequently communicated through Depository (CDSL/NSDL) to the depository members and brokers.

regarding issues of Tax identification number (TIN), the apex direct tax body stated that TIN isn’t always required to be gathered by means of the FIs if TIN (such as its practical equivalent) is not issued by way of the applicable united states or territory outdoor India in which the individual is resident for tax functions.

“it is also clarified that TIN isn’t required to be accrued via the FIs even from someone (resident for tax functions in a rustic or territory outside India ) who may be eligible to achieve a TIN (or the purposeful equal) in his united states of america or territory of house, but has now not but obtained a TIN,” the CBDT said.

The overseas Account Tax Compliance Act (FATCA) got here into impact from September 30 which has enabled automated alternate of monetary records between India and america.

The not unusual Reporting wellknown (CRS), advanced in reaction to the G20 request and approved by way of the OECD Council on 15 July 2014, calls on jurisdictions to reap facts from their economic establishments and automatically exchange that data with other jurisdictions on an annual basis.


Motorola is predicted to unveil its flagship smartphones, the Moto Z and Moto Z Play, at determine business enterprise Lenovo’s Tech global occasion on June nine. With those smartphones, Motorola is looking to introduce its new ‘Z’ collection, alongside an environment of modular backplates, formerly idea to be referred to as Amps. Now stated to be referred to as MotoMods, those backplates has been creating lots of buzz, and now tipster Evan Blass gives us our feasible first observe the MotoMods

The photo leaked by using Blass showcases 3 of the modular backplates which can be expected to arrive with the Z collection. The MotoMods will connect to the smartphones via connection pins on the lower back, bringing extra application to the telephones. To consider, Motorola changed into tipped to launch 5 modular backplates on the event, together with a battery percent, a rugged cowl equipped with a wide-attitude lens, a digital camera-style grip complete with a flash module and optical zoom, a stereo speaker setup, and even a p.c. projector.

the primary MotoMod inside the leaked picture shows the optical zoom lens. The backplate has a flash on its left and what appears to be like a shutter button on the right. the one in the back of it seems to include a kickstand, which might basically help the person keep his phone upright while watching films. the second one MotoMod additionally seems to be a little thicker, and could residence the battery % as well. The 1/3 one is hard to dissect, however it could residence the p.c. projector or the stereo speakers.

Blass later clarified what the three MotoMods seen inside the photo have been – with the pinnacle most being a Hasselblad digicam, the middle on JBL audio system, and the lowest most a percent projector.

Motorola is reportedly looking to ditch the Moto X collection altogether, and launch its flagships under the brand new Z collection. The Moto Z and Moto Z Play have been closely leaked inside the past. so far, the Moto Z is anticipated to characteristic 5.5-inch QHD show, a Snapdragon 820 processor, 3GB or 4GB of RAM, sixteen-megapixel rear digital camera, 32GB of in-built storage, and 2600mAh battery. The Moto Z Play may additionally recreation a 5.five-inch complete-HD show, a Snapdragon 625 SoC, 2GB of RAM, a 13-megapixel rear digicam, 16GB and 32GB storage editions, and percent a 3500mAh battery

Blass one after the other shared a leaked photo of the latest Droid collection, predicted to be launched along the Moto Z collection for Verizon wi-fi.

Lenovo unveiled the Zuk Z2 pro in April, and is set to launch a ‘Lite’ version of the phone on may additionally 31. in advance of the launch, the Lenovo Zuk Z2 seems to have exceeded thru China’s Tenaa telecommunications certification authority, revealing a few key specifications alongside the layout of the telephone.

in line with the listing (through MyDrivers), the Zuk Z2 will include dual-SIM functionality, and runs on Android 6.0.1 Marshmallow. It has a 5-inch complete-HD (1080×1920) show with 2.5D curved glass safety. The listing claims that the phone is powered via a Snapdragon 820 SoC, which suits a recent teaser by way of the enterprise. appreciably, Zuk CEO Chang Cheng had in advance hinted at the use of the Samsung Exynos 8890 SoC. This has fuelled rumours that the telephone could launched in processor variants.

The listing reveals that the cellphone offers 3GB RAM/ 32GB in-built storage and 4GB RAM/ 64GB inbuilt garage options. Optics consist of a 13-megapixel rear digital camera, and an eight-megapixel the front lens. It packs a 3500mAh battery, weighs one hundred fifty grams, and the dimensions are at a hundred and forty.5x69x7.9mm.

The specs in shape previous leaks that the Zuk Z2 is just the smaller model of the Lenovo Zuk Z2 pro. just to examine, the Zuk Z2 seasoned gives a 5.2-inch show, Snapdragon 820 SoC, 13-megapixel rear digital camera, 8-megapixel the front digicam; 4GB RAM/ 64GB storage, and 6GB RAM/128GB garage alternatives. It packs a 3100mAh battery, and helps Qualcomm brief rate three.zero as nicely.

The Lenovo Zuk Z2 is expected to be offered in Black and White colour versions. MyDrivers guidelines the smartphone will launch at a starting price of CNY 1,799 (more or less Rs.18,400). Lenovo has despatched out media invitations for an event on might also 31, when the Zuk Z2 is widely expected to be unveiled. whether Lenovo launches Zuk Z2 in markets out of doors of China, stays to be visible.


As expected, Samsung on Thursday launched its wirelessrst Galaxy C-series telephone – the Galaxy C5. The smartphone has been launched in China in 32GB and 64GB variants, priced at CNY 2,199 and CNY 2,399 respectively. The steel-clad phone is up for pre-orders in China, and will cross on sale in the wirelessrst week of June.

The Android 6.0.1 Marshmallow-primarily based Samsung Galaxy C5 sports a 5wireless.2-inch complete-HD (1080×1920 pixel) outstanding Amoled display, and helps SIM playing cards in a hybrid twin-SIM conwirelessguration. The cellphone is powered with the aid of an octa-core Qualcomm Snapdragon 617 SoC, with four Cortex-A53 cores clocked at 1.5GHz, and four Cortex-A53 cores clocked at 1.2GHz, coupled with 4GB of RAM.

the brand new Samsung phone bears a sixteen-megapixel rear autofocus digicam with flash module and f/1.9 aperture, other than a 8-megapixel the front dealing with digicam sporting the same aperture. It comes in 32GB and 64GB in-built storage alternatives that are expandable thru microSD card (up to 128GB). The Galaxy C5 helps 4G LTE networks on most effective one SIM, and the China variation is likewise listed to help 4G LTE versions in India.

different connectivity options on the Galaxy C5 include c084d04ddacadd4b971ae3d98fecfb2a 802.eleven a/b/g/n, Bluetooth v4.2, GPS, 3.5mm audio jack, NFC, and Micro-USB. it’s miles powered by using a 2600mAh battery that rated to supply up to 237 hours of standby time on 4G. It measures 145.9x72x6.7mm, and weighs in at 143 grams.

The Galaxy C5 bears a wi-fingerprint sensor on the house button. different onboard sensors consist of an accelerometer, ambient mild sensor, proximity sensor, and a magnetometer.


Reliance Retail’s Lyf emblem has launched the Flame 3 smartphone in India, priced at Rs. 3,999. The Lyf Flame three is indexed at the company’s website, but is to be had to shop for completely from home shop 18.

The Lyf Flame 3 launch comes simply some weeks after the release of the Flame 2 and Wind four smartphones.

the biggest spotlight of the Flame three cellphone is it supports VoLTE (voice over LTE) with HD voice call compatibility. It supports each 4G LTE bands in India – FDD-LTE Band 3 (1800MHz) and TDD-LTE Band 40 (2300MHz).

The twin-SIM Lyf Flame 3 cellphone features a 4-inch WVGA (480×800 pixels) show and runs Android 5wireless.1 Lollipop out-of-the-container. The corporation says each SIM slots are 4G enabled; though, at one time best one SIM can use 4G while the alternative will work on 2G. The handset is powered with the aid of a 1.5GHz quad-middle processor clubbed with 512MB of RAM. It packs 4GB of built in garage and supports expandable garage thru microSD card (as much as 32GB). The Lyf Flame 3 sports a wi-five-megapixel autofocus rear digital camera with LED flash in conjunction with a 2-megapixel front-facing digital camera. Connectivity alternatives encompass GPRS/ part, 3G, GPS, Bluetooth, c084d04ddacadd4b971ae3d98fecfb2a, and Micro-USB, other than 4G. It packs a 1700mAh battery. The Flame three will be available in gray coloration.

in advance this month, Lyf Flame 2 and Wind 4 smartphones had been launched at Rs. four,799 and Rs. 6,799 respectively.


Panasonic India on Thursday released a new phone in India, the Eluga A2, priced at Rs. 9,490. The spotlight of the cellphone is its large 4000mAh battery, and voice over LTE (VoLTE) guide. it’ll be to be had in Gold and Silver coloration editions.

The dual-SIM Panasonic Eluga A2 runs Android 5wireless.1 Lollipop with the agency’s FitHome UI on top, and bears a wi-five-inch HD (720×1280 pixel display). it’s far powered through a 1GHz quad-middle SoC, coupled with 3GB of RAM. It sports activities an 8-megapixel rear digicam with LED flash, and a 5wireless-megapixel front-dealing with digital camera.

The Panasonic Eluga A2 bears 16GB of built in garage it really is expandable via microSD card (as much as 128GB). It capabilities general connectivity alternatives, along with 4G LTE assist, Bluetooth v4.zero, GPS with A-GPS, c084d04ddacadd4b971ae3d98fecfb2a 802.11 a/b/g/n, and FM radio. It measures 143.8x72x8.9mm, and weighs 167.wi-fi grams.

“With ELUGA A2, we goal to supply maximum experience to our customers with a telephone full of capabilities. Our new telephone is a 4G VoLTE tool with 3GB RAM and 4,000 mAh battery, as a consequence, offering a higher way to clients who need long operational hours on a 4G VoLTE,” Pankaj Rana, commercial enterprise head (mobility division), Panasonic India, stated in a declaration.

alongside the smartphone, Panasonic India is also bundling a protective screenguard as a free accessory well worth Rs. 399.

The business enterprise earlier this month launched new fashions of the Panasonic Eluga I2 in 2GB RAM and 3GB RAM variants, priced at Rs. 7,990 and Rs. eight,990 respectively


LG India has started out sending invites for a Gurgaon event on June 1 so that it will see the release of its flagship telephone, the LG G5. To take into account, the LG G5 went up for pre-bookings in India through Flipkart and retail shops at Rs. fifty two,990 remaining week.

Pre-bookings remain open until Monday, and people who pre-e book also get the LG Cam Plus module bundled totally free with the LG G5.

the most important spotlight of the new LG G5 flagship is the modules or f9ef7d9e905d1a4504697a5c6dd610d7 referred to as the LG friends, supposed to signify the accomplice devices that may be attached to the G5. LG Cam Plus is a digital camera module that provides bodily buttaccessories for camera operatiaccessories together with increasing the total battery potential to 4000mAh.

The hi-Fi Plus module, co-advanced by using Bang & Olufsen, is a transportable hello-Fi DAC which can be used as a standalone transportable DAC or with the G5 to enable 32-bit audio playback. The South Korean business enterprise also can be predicted to show off the accomplice devices in India with the LG G5 together with LG 360 VR, LG 360 CAM, LG Rolling Bot, LG Tone Platinum, H3 with the aid of B&O Play, LG clever Controller, and LG pals supervisor.

As for the accessories, the LG G5 sports activities a five.3-inch QHD show (1440×2560 pixels) featuring constantly-on display technology. The constantly-on display will allow customers to test time, notificatiaccessories and battery status amongst other portions of information. it is powered via Qualcomm Snapdragon 820 SoC coupled with 4GB of RAM and 32GB of inbuilt garage that can be increased the use of a microSD card.