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ASIAN SCHOOL OF
BUSINESS MANAGEMENT
The
22nd National Management Colloquium on Finance on the theme –
‘Growth and Employment: Energising the Capital Market’ with sub-themes
‘Regulating Reforms – The Path Ahead’ and ‘Augmenting Investment’ took place on
24th January, 2015 in Asian School of Business Management,
Bhubaneswar.
The
colloquium was inaugurated by the Chief Guest Shri V Ramakrishna, Chairman,
India Insure Risk Management & Insurance Broking services Pvt. Ltd by
lighting the ‘lamp of wisdom’ followed by a welcome address by Prof. (Dr.)
Biswajeet Pattanayak, Director ASBM who asserted that Capital Market is the key
to economic development in a developing economy like India.
Shri
V Ramakrishna said that “money is the basic tool for economic momentum in the
world” and highlighted the nexus between capital markets and suggested various
ways to move forward by improving investor awareness and other factors.
In
his key note address Shri Debaraj Biswal, MD & CEO, Bhubaneswar Stock
Exchange spoke on the various drivers of economic growth, the rising middle
class, investment in SME’s and the need to create financial assets in place of
physical assets.
BANKING
India is betting
that mobile phone vendors, fuel stations and corner stores can help it put
basic banking within the grasp of hundreds of millions of its poor people
living beyond the reach of traditional bank branches.
The
clock is ticking down to a Feb. 2 deadline for applications to set up so-called
payments banks under new rules that would allow successful bidders to offer
services such as remittances and deposits, but not loans. The regulations
announced by the central bank, the Reserve Bank of India (RBI), reflect a
realisation that traditional banks alone can't achieve the objective of
financial inclusion championed by Prime Minister Narendra Modi.
In a
four-month campaign to end "financial untouchability", Modi has
opened 115 million new bank accounts. Yet of those, 80 million have no money in
them, underscoring the huge challenge he faces in delivering on his promise.
Backers
of the payments banks say they could help bring those accounts to life by
bridging the gap from bank branches in town to India's 600,000 villages, making
it easier to send money home, collect state benefits or do business deals.
"There's
an entirely new set of actors," said Bindu Ananth, a member of the RBI
committee that designed the payments banks rules. "We said: Let's create a
regulatory framework that allows the participation of non-banks."
INDIA
BUSINESS
Twitter
has acquired Bengaluru- based mobile value-added service (VAS) firm ZipDial to
mark its first acquisition in India , as the microblogging firm aims
to expand its presence in India, one of the world's largest Internet markets.
Though
the deal size was not disclosed, reports suggest the monetary value is between
$30-40 million (between Rs 185 crore-Rs 247 crore).
The
Indian startup, which was already working as a partner with Twitter, offers
services like missed calls for user verification and alerts to its customers.
"India
is one of the fastest growing countries for us. We have been focussed on
growing our audience here and this acquisition will dramatically accelerate
that strategy," Twitter Market Director (India and Southeast Asia) Rishi
Jaitly told PTI.
ODISHA
BUSINESS
In
the first major expansion drive for its software development centre in the
city, IT major Wipro Technologies has committed a 4,000-seater facility in
Bhubaneswar. The facility would come up on the IT firm's existing campus spread
over 26 acres of land at the Infocity area on city's outskirts.
"Wipro has discussed its expansion plan for Bhubaneswar. They have committed to set up a 4,000-seater complex in 18 months. Construction work on this facility is expected to commence in a couple of months. Wipro would set up a G+8 block at its existing facility. The state government wanted commitment from Wipro on employment and they have assured us the same. We will be monitoring the progress of Wipro's expansion," said principal secretary, IT (Odisha) G Srinivas.
Hariprasad Hegde, senior vice president and global head (operations) of Wipro, called on Srinivas and the state IT minister Pranab Prakash Das on Wednesday. Presently, only around 100 employees are engaged at Wipro's development centre in Bhubaneswar. Compared to its peers- Infosys Technologies, Tata Consultancy Services (TCS) and Tech Mahindra, Wipro has been a laggard in expanding its presence in the city.
"Wipro has discussed its expansion plan for Bhubaneswar. They have committed to set up a 4,000-seater complex in 18 months. Construction work on this facility is expected to commence in a couple of months. Wipro would set up a G+8 block at its existing facility. The state government wanted commitment from Wipro on employment and they have assured us the same. We will be monitoring the progress of Wipro's expansion," said principal secretary, IT (Odisha) G Srinivas.
Hariprasad Hegde, senior vice president and global head (operations) of Wipro, called on Srinivas and the state IT minister Pranab Prakash Das on Wednesday. Presently, only around 100 employees are engaged at Wipro's development centre in Bhubaneswar. Compared to its peers- Infosys Technologies, Tata Consultancy Services (TCS) and Tech Mahindra, Wipro has been a laggard in expanding its presence in the city.
RETAIL
Voylla.com,
a jewellery and accessories shopping website run by Bengaluru-based Voylla
Retail Private Limited, is planning to set up exclusive offline stores to
consolidate its presence in the Indian fashion imitation jewellery industry, said its founder and chief
executive officer Vishwas Shringi.
The two-year-old company, which currently has three offline stores, including one in Bengaluru, is gearing up to launch 25 shop-in-shops across the country in tie-up with retail chains like Future Group’s Central within the next one-and-a-half year.
“Of these, six stores will come up in the southern states, including one in Hyderabad in the next three months and one in Chennai in three months from then. Each of these stores, with a carpet area of 100 sft, is expected to generate revenues of Rs 5 lakh per month,” Shringi said.
The company, which has so far raised $2 million (approximately Rs 12 crore) from angel investors, is looking at raising $10 million (Rs 60 crore) from venture capital firms within a couple of months to fuel its expansion, he added.
Voylla.com is the latest to join the league of ecommerce players entering the offline retail business. While Flipkart has opened its first brick-and-mortar store ‘Fliptomania’ in Bengaluru and online jewellery store Bluestone.com launched outlets in Bengaluru, Mumbai and New Delhi in 2014, online fashion retailer Myntra.com is gearing up to roll out offline stores in due course.
The two-year-old company, which currently has three offline stores, including one in Bengaluru, is gearing up to launch 25 shop-in-shops across the country in tie-up with retail chains like Future Group’s Central within the next one-and-a-half year.
“Of these, six stores will come up in the southern states, including one in Hyderabad in the next three months and one in Chennai in three months from then. Each of these stores, with a carpet area of 100 sft, is expected to generate revenues of Rs 5 lakh per month,” Shringi said.
The company, which has so far raised $2 million (approximately Rs 12 crore) from angel investors, is looking at raising $10 million (Rs 60 crore) from venture capital firms within a couple of months to fuel its expansion, he added.
Voylla.com is the latest to join the league of ecommerce players entering the offline retail business. While Flipkart has opened its first brick-and-mortar store ‘Fliptomania’ in Bengaluru and online jewellery store Bluestone.com launched outlets in Bengaluru, Mumbai and New Delhi in 2014, online fashion retailer Myntra.com is gearing up to roll out offline stores in due course.
SUPPLY
CHAIN
Wilmar International Ltd., the world’s largest palm
oil processor, opened its supply chains to outside scrutiny on Thursday in what
environmentalists called an unprecedented step to help safeguard tropical
forests.
Singapore-based Wilmar said it would give outsiders, from
customers to environmentalists worried about deforestation, access to online
maps showing where it buys palm oil at more than 800 mills
in Indonesia and Malaysia.
Palm oil companies and their clients have become the
target of consumer campaigns for not doing enough to stop deforestation, the
destruction of carbon-rich peat land, and an annual haze problem caused by
slash-and-burn land clearance.
According to a study in the journal Nature Climate
Change, Indonesia, the world’s top palm oil producer,
overtook Brazil in 2012 to become the country with the highest rate
of deforestation.
Wilmar is the first agro-industrial firm to allow outsiders
to track palm oil back to processing mills, according to The Forest
Trust (TFT), a global non-profit group which worked with Wilmar on the
project.
“Wilmar has grown huge in the shadows,” Scott
Poynton, founder of TFT, told Reuters. “This will bring the suppliers into the
light.”
Anyone wanting access to the website will have to request
a password from Wilmar.
Poynton said he hopes that other companies harvesting
other commodities — such as soy, cocoa, sugar or cotton — would follow suit.
Wilmar promised in 2013 to end purchases of palm oil
grown on deforested land. Palm oil is used in products including margarine,
soap and biodiesel.
________________________________________________________________
Source of
Information for this issue : Google alert accessed on Google alert on Jan 26 , 2015
We
welcome your suggestions in improving this information updating service.
Knowledge
Is Power. Be Informed, Be Knowledgeable, Be Powerful.
Best wishes
Compilation
Sabita
Sahu
Junior
Librarian
Concept,
Layout and Editing
Syamaghana
Mohanty
Chief
Librarian
Information
and Documentation Divison, Chanakya Central Library
Asian
School of Business Management
Shiksha
Vihar Bhola,
Barang
Khurda Road, Chandaka
Bhubaneswar-754012
www.asbm.ac.in
Tel:
0674-2374832, 2374833
E-mail:
library@asbm.ac.in, chieflibrarian@asbm.ac.in
Sabita Sahu :Junior Librarian Knowledge and Information Services Unit, Chanakya Central Library, Asian School of Business Management, Bhubaneswar. library@asbm.ac.in ; www.asbm.ac.in
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