Loknath Das, Author at Pinfaves

RBI eases business guidelines for white label ATMs

March 8, 2019 Loknath DasATMs, business, Eases, for, guidelines, Label, RBI, White

MUMBAI: RBI has eased business guidelines for white label ATMs allowing companies that manage these machines to source cashdirectly from the central bank, offer non bank services like bill payments and advertise even non financial products in their premises, increasing the revenue earning scope for these companies. White label ATM Operators (WLAO), can now source cash directly from RBI offices and currency chests, and will no longer be dependent on sponsor banks for procurement of cash. The RBI has allowed the operators to source cash from any scheduled bank including rural and cooperative banks, it…

Godrej Appliances lines up Rs 500 crore investment

March 6, 2019 Loknath Das500, Appliances:, Crore, Godrej, investment, lines, Rs., Up

KOLKATA: India’s largest home grown white goods maker, Godrej Appliances plans to invest Rs 500 crore over the next three years to expand capacity and set up a new plant in Pune in a move aimed at completely localising its production process right till the component level. The company’s business head Kamal Nandi said the proposed investment will be to start local manufacturing of front-load washing machines, hi-end frost free refrigerators and air-conditioners, and their components which are currently largely imported. Godrej Appliances last investment was three years back to…

RIL investment unit buys stakes in Grab, C-Square

March 4, 2019 Loknath DasBuys, C-Square, Grab, In, investment, RIL, stakes, Unit

NEW DELHI: Reliance Industries controlled Reliance Industrial Investment and Holdings(RIIHL), has picked up majority stakes in two companies, Grab A Grub Services and C-Square Info Solutions, the petroleum-to-retail-to-telecommunications conglomerate announced on Saturday. In two separate filings made to the Bombay Stock Exchange, RIL said that RIIHL has agreed to pay Rs 106 crore to acquire equity shares in Mumbai-based logistics platform Grab A Grub, and will invest an additional Rs 40 crore in the fouryear-old company. “(The deal) is likely to be completed by March 2021.The total investment will translate into about 83% of equity capital in…

Utkal University rural campus to offer courses on education, communication

March 3, 2019 Loknath Dascampus, communication, courses, Education, Offer, On, Rural, to, University, Utkal

BHUBANESWAR/KENDRAPADA: Utkal University’s rural campus near Chandikhole in Jajpur district will offer bachelor and master degrees in education, postgraduate diploma in communication for development and three certificate courses from next year. University authorities said this on the sidelines of the inauguration of the rural campus by chief minister Naveen Patnaik on Saturday. Utkal University vice chancellor Soumendra Mohan Patnaik said initially the institution will start with two courses-master degree in public health and MBA in rural management- from this temporary campus. But it will add courses every educational year in…

BJP’s Record on Education Runs Afoul of Its Own Manifesto

March 2, 2019 Loknath DasAfoul, BJP’s, Education, Its, Manifesto, of, On, own, record, Runs

In their short social life and even shorter life in public memory, election manifestos perform a variety of tasks. Attempting to strike different notes at once, they sway between grandiose promise-making, novelty and a teaser of all good things that would unfurl post-elections. Intentions, promises and possible actions form common elements of the script that covers broad issues including foreign relations, defence and social security. While revealing an overall direction, focus and emphasis, manifestos also do the work of re-framing, re-naming and signalling. Given its crucial role in not just…

Rain industries Q4 CY18 review: Business in transition; accumulate on dips

March 1, 2019March 1, 2019 Loknath DasAccumulate, business, CY18, dips, In, industries, On, Q4, Rain, Review, Transition

Rain Industries reported a weak set of Q4 CY18 earnings. Its earnings were anticipated to be subdued due to delayed permission to import a key raw material, green petroleum coke (GPC) and a continued import ban of calcined petroleum coke CPC) used for blending key product. But what really caused the disappointment was the adverse impact of high-cost inventory. Result analysis Volume trend in product sales Key negatives High-cost inventory continues to impact profitability of most chemical products in carbon (68 percent of total sales) and advance materials (25 percent of total sales) segments.…