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New Delhi, April 28, 2017: Portland-based serial Tech-Entrepreneur, Nitin Khanna, has invested US$ 5 million in a Punjab startup Isos. Nitin Khanna was the founder, Chairman and CEO of Saber Corp., one of the largest providers of state government solutions in the United States. Nitin cofounded Saber in July 1998 and helped grow it to 1200 employees and over $120MM in revenue by 2007 when it was sold to EDS for $460MM. Isos, the investee company is into developing productivity enhancement solutions like smart attendance, real time tracking and monitoring, inventory management, cashless transactions, security management etc. The company was also awarded “Innovative Idea of the Year” by Tiecon Chandigarh 2017.

“Indian start-up eco-system has gotten the attention of the world. The best part about India is that tech entrepreneurship is abound in Tier 2 cities as well from where some very brilliant ideas and services have made successes as startups. With productivity being the key for most companies, Isos serves an essential need and we see growth in this segment”, said Mr. Nitin Khanna, who is also the CEO of MergerTech an M&A firm based out of Oregon, Portland.

“After working as an investment banker overseas, I have come across many potential start-ups around the globe, but the zeal and commitment showcased by the Indian entrepreneurs, hailing from small towns is amazing. Today, investors are much more willing to invest in start-up, but the problem is identifying the right start-up to invest and scale it has been the area of my expertise”, Mr. Khanna added.

In terms of total number of startups, comprising both tech and non-tech areas, India again figured among the five largest hosts in the world, along with China (10,000 each). India is home to third largest number of technology start-ups in the world, with the US and the UK occupying the top two positions, according to studyby ASSOCHAM in association with Thought Arbitrage Research Institute.

The Smart attendance system and real time tracking with monitoring is likely to be presented to Prime Minister Narendra Modi shortly. The software can be deployed in campuses, government hospitals, offices, and industries.

Corporate Comm India(CCI Newswire)

 
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Mumbai, April 28, 2017 : The Board Meeting of Shriram Transport Finance Company Limited (STFC), the largest asset financing NBFC in the country, was held today to consider the audited financial results for the fourth quarter and year ended 31st March, 2017.

Revision in NPA recognition Norms:

During the current quarter, pursuant to Reserve Bank India (RBI) notification no. DNBR 011/CGM (CDS) dated March 27, 2015, the Company has revised its recognition norms of Non-Performing Assets (NPA) from 150 days to 120 days and increased provision on standard assets from 0.30% to 0.35%. Had the Company continued to use the earlier policy of classification of NPA and provision for standard asset, the amount of provisions and write offs for the quarter and year ended March 31, 2017 would have been lower by Rs. 36,867.13 lacs, income from operations for the same period would have been higher by Rs. 1,769.38 lacs and profit before tax for the same period would have been higher by Rs. 38,636.51 lacs (net of tax Rs. 25,265.19 lacs). The Company maintained provision coverage of 69.33% on 120 dpd basis as against provision coverage of 70.45% on 150 dpd maintained in the previous year.

Note :

Erstwhile Shriram Equipment Finance Company Limited wholly owned subsidiary of the Company has been amalgamated with the Company with effect from April 01, 2015, the effect of the same was given in the quarter ended on March 31, 2016. Hence, the figures for the quarter ended March 31, 2017 are not comparable with the corresponding previous period.

Financials (Standlone) :

Fourth quarter ended 31st March, 2017:

The Net interest income for the fourth quarter ended 31st March, 2017 stands at Rs. - 1,408.69 crores as against Rs. 1,455.96 crores in the same period of the previous year. The profit after tax stands at Rs. 149.63 crores as against Rs. 143.92 crores recorded in the same period of the previous year. The earning per share (basic) for the fourth quarter ended 31st March, 2017 stands at Rs. 6.60 as against Rs. 6.34 recorded in the same period of the previous year.


Year ended 31st. March, 2017 :

The Net interest income for the year ended 31st March, 2017 stands at Rs. 5,521.18 crores as against Rs. 5,120.95 crores of the previous year. The profit after tax stands at Rs. 1,257.34 crores as against Rs. 1,178.20 crores recorded in the previous year. The earning per share (basic) for the financial year ended 31st March, 2017 stands at Rs. 55.42 as against Rs. 51.93 recorded in the previous year.

Dividend :

STFC has proposed a final dividend of Rs. 6.00 (60%) per share. This is in addition to the interim dividend of Rs. 4.00 (40%) per share declared at the Board Meeting held on October 25, 2016 making the total dividend of Rs. 10.00 (100%) per share as against the total dividend of Rs. 10.00 (100%) per share paid for 2015 – 16.

Assets under Management :

Total Assets under Management as on 31st March, 2017 stands at Rs. 78,760.93 crores as compared to Rs. 72,760.60 crores as on 31st March, 2016.

Shriram Transport Finance Company Limited.

Shriram Transport Finance Company Limited is the flagship company of the Shriram group which has significant presence in Consumer Finance, Life Insurance, General Insurance, Stock Broking and Distribution businesses. Established in 1979, Shriram Transport is today the largest asset financing NBFC in the country and holistic finance provider for the commercial vehicle industry and seeks to partner small truck owners for every possible need related to their assets. It has PAN India presence with 918 branch offices. Based at Mumbai, it manages assets over Rs 78,750 crores and has a live customer base exceeding 14.50 lacs.

For Further information, please contact:

Sanjay K. Mundra Vice President

Shriram Transport Finance Company Limited

+91 22 40959507

This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it.

Corporate Comm India(CCI Newswire)

 
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New Delhi, April 28, 2017: Skullcandy® launches its newest sport bud with hanger, Chop Flex. In comparison to the more rigid hangers found on other sports buds, Chops Flex features a softer more flexible hanger for enhanced comfort.

The sweat-resistant construction of the Chops Flex keeps out moisture like sweat and rain so your earbuds stay securely in place, through even your toughest workouts. The in-line microphone and call & track control offer added convenience.

At INR 1699, Chops Flex is available now online and at selected retailers in India.

For more information on the product, visit: http://www.skullcandy.in

Corporate Comm India(CCI Newswire)

 
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New Delhi, April 28, 2017: Ken Research has recently announced its latest publication titled “National Broadband Plans in Asia-Pacific: Focus on Bridging the Digital Divide to Spur Economic Growth” which aims at provides in-depth market analysis, information and insights into the Telecom industry. It describes Telecom industry's growth prospects by segment and category and outlines a comprehensive overview of the global and local demographics. It further provides the detailed competitive setting, distribution channels and regulatory policies in the Broadband Policy.

Development in the Asia-Pacific region has been very unhinged, and there is great variation in connectivity across the region. In these countries, more government and policy support was required to accelerate infrastructure growth and increase external connectivity. Governments are taking lead on infrastructure development, to build alliances incorporating diverse government departments and private industry, and to extend broadband-friendly industrial policy. Governments are also looking to improve infrastructure synergy and find ways to abridge the process of obtaining rights of way. They are in need of new buildings and overhaul projects to include fiber connections, produce explicit standards for compensation for eminent domain, and start universal service funds.

The market in the broadband industry is on the verge of a sharp growth and also broadening its horizons. Various factors such as setting the minimum seed of the internet and making everything wire are few steps from the side of the govt. Governments and operators are actively investing in the broadband infrastructure to attain goals laid under the national broadband plans. Government are extending support in the form of funds as well as introducing regulatory measures and offering spectrum.

The key players in the spice and seasoning industry are China Telecom, Telekom Malaysia, PT Palapa Ring Barat, the Pandawa Lima, OpenNet consortium, StarHub, Telstra, Optus, BSNL, PGCIL, Railtel, China Unicom, Northpower Limited, Waikato Networks Limited, WEL Networks, Waipa Networks, Enable Services Limited, Christchurch City Holdings, Chorus Limited, Chunghwa Telecom, Far EasTone, CAT, TOT.

Therefore the telecom industry is set to grow in the Asia Pacific region but there are certain measures that need to take care of such as digitization of the procedures, making most of the things online and setting up of optic fibre is the main solution and need of the hour as well.

Key Topics Covered in the Report:

Asia Pacific Broadband Subscribers

Asia Internet Users

Asia Internet Adoption Rate

Asia Pacific National Broadband Plans

Global Broadband Sector Future Outlook

Information and Communication Technologies Sector

Asia Pacific Optic Fiber Market

National Broadband and Digitization

Asia Pacific Broadband Market Size

Asia Pacific Broadband Market Research

For more coverage click on the link below:

https://www.kenresearch.com/technology-and-telecom/telecommunications-and-networking/national-broadband-plans-asia-pacific/73650-105.html

Related links

https://www.kenresearch.com/technology-and-telecom/telecommunications-and-networking/oman-national-broadband-plan-drive/95951-105.html

https://www.kenresearch.com/technology-and-telecom/telecommunications-and-networking/portugal-telecoms-mobile-broadband-digital/101920-105.html

Corporate Comm India(CCI Newswire)

 
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New Delhi, April 28, 2017: The Draft National MSME Policy has called for setting up an overarching policy-making authority headed by the Prime Minister as also empowering the Centre to change investment limits instead of being “forced” to go to Parliament.

“To accord the importance the MSME sector deserves, it is imperative to create an apex authority under the chairmanship of the Prime Minister. The authority may be called the National MSME Authority,” says the report prepared by former Cabinet Secretary Prabhat Kumar, adding that the “Act of 2006 may accordingly be amended”.

The report of the one-man committee was presented to the government in January and is likely to be discussed at the meeting of the National Board for MSMEs, chaired by Minister Kalraj Mishra here on Thursday.

With regard to communication and consultation with States, the report has suggested an institutional forum as also an advisory service.

The draft also sets aside two proposals for redefining MSMEs on the basis of turnover or employment, saying that these “do not add anything worthwhile over the present system”, and suggested that a group be set up to look into the structure of different industries and suggest investment bands for each sub-sector.

Single law

A single law for micro and small enterprises employing less than 40 persons, social security cover for micro entrepreneurs, reassessment of the impact of bankruptcy code on MSMEs, replication of the Telangana model for statutory clearances of start-ups, creation of land banks by State governments and a dedicated TV channel are some of the measure proposed in the draft.

The draft policy also proposes raising the limit of MUDRA loans for micro units from ₹50,000 to ₹1 lakh, for small units from ₹50,000-5 lakh to ₹1-10 lakh and for medium enterprises from ₹5-10 lakh to ₹10-25 lakh.

“MUDRA should also be scaled up as a financial institution responsible for the entire micro enterprises sector in the country,” says the report.

Thursday’s board meeting will also discuss expanding the mandatory 20 per cent annual public procurement policy to include “all statutory and autonomous bodies and other societies and trusts owned by the Government of India”, as also Central universities and technology centres.

BusinessLine
 
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New Delhi, April 28, 2017: The Commerce and Industry Ministry is working on fixing the nuts and bolts of a policy to give preference to domestically manufactured goods in government procurement with a view to promoting Make in India.

“The policy would be in tune with the Make in India initiative. Both the departments of commerce and industry have advocated such a policy,” a senior commerce ministry official said.

The official said the global trade rules of the World Trade Organisation (WTO) allow member countries to prefer domestically made products for government procurement purposes.

BusinessLine
 

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