1. Presentation - We Like GAYATRI AVINASH KADU SPECIALIZATION: FINANCE
SUBMISSION DATE: 25 FEB 2016
ENROLLMENT NO : HPGD/APR/2959
PRIN. L. N. WELINGKAR INSTITUTE OF MANAGEMENT DEVELOPMENT AND RESEARCH

2. WE LOUNGE

3. 1.Mr. Shirish Deshpande CEO- Essel Group

4. EsselWorld is an amusement park located in Gorai,Mumbai and established in1989.
The largest amusement park in the country.
Estimated 1.8 million visitors anually, of which approximately 3,00,000 are students.
Owned by Pan India Paryatan Pvt.Ltd.(PIPPL).
Esseworld counterparts,water kingdom are stretched over 64 acres of land.
Variety of rides appropriate for individuals of all ages.
14 family rides ,11 adrenline pumping thrill rides 15 children’s rides
MR. Shirish Deshpande is chief excutive officer of EsselWorld.
He is second vice president of IAAPI(INDAIN ASSOCIATION OF AMUSEMENT PARK AND INDUSTRIES.
Started his career in 1983.
Earlier he is in Leading pharmaceutical industry may & baker sales executive.

5. Earlier he is in Leading pharmaceutical industry May & Baker as a sales executive.
Meeting and observing people for sales is the passion of Mr Deshpande.
He started his career as medical representative and in span of almost 18 to 20 years he has reached the level of Chief Executive.
He joined in Essel group in 1997as Deputy Manager.
Vision is to reach Essel world and water Kingdom at Par and at International Level.
After 8 years spend in Essel group he shifted to the Hospitality in Oberoi group as director .
Joined in Oberoi in the year of 2008 as CEO.
He has basic photography interest too.
Kodak is big industry in He joined as marketing excutives in Kodak.
His is done in Transformation in kodak.
Hi is 5 years in kodak. He looking after all india responsiblity,.
He travelled lot in country and outside country for reaserach for new changes.

6. 2.Mr. Shekhar Oak Director - OceanHellmann Worldwide Logistic

7. Hellmann Worldwide Logistic-Mr. Shekhar Oak
Journey :-
Clerical Grade
- James Finance
- Color Chem Ltd (Clariant Chemicals India Ltd)
- Omega Global Logistics Pvt Ltd.
- International Air Transport Association (IATA) Basic & DGR
Hellmann Worldwide Logistic in India :-
- Big Vision
- Started on 26th Nov 2007 with 16 offices in a month
- Crossed 100 Cr in 6 years with 23 offices
Economy Change :- Movement of Scrap, US & Europe Driven

8. Hellmann Worldwide Logistic
Key Learning :-
- Listen carefully
- No quick conclusion
- Work matter not table or table
- Challenge for growth
Hellmann Worldwide Logistic :-
Founded in 1871 by Mr Carl Heinrich Hellmann, Northern Germany.
Four generation later grant-grand children Jost & Klaus own & run
company with active network in 157 Countries / 341 Offices. A leading
logistic provider in world. Running with 5000 Trucks, 55 International
Airlines, more than 50 Shipping lines & People Worldwide.
Business in India :-
Unorganized sector due to Unrecognition issue.
Education Institute in Chennai, Pune, Mumbai.
Indian Infrastructure - Ranked 54 in 59, Road – 56/59, Rail – 25/59,
Sea Port – 51/59, Air Port – 40/59 & Bureaucratic country slow growth.

9. Hellmann Worldwide Logistic
Innovation :- Pick & Pak Sol, Door Delivery, Custom clearance
Motivation :- Appreciation, Incentives, Batches, Cash Vouchers
Aspects of Growth :- Team Player, Training, Terminology, Work Hard
Personal Like & Dislike :-
Learning :- Open to learn & Change as per time
Logistic Growth in India :-
India coastal line approx 7600 km which cater 12 major, 187 minor ports
which facilitated good movement via Sea & share 95% cargo entering in
India. FY 2012 $82.10 billion business with 9.2% yoy growth. Expected to
grow to $190 to 200 billion by 2020 serving all Industries at 8 to 9% yoy.
World Bank in Global Logistic Report 2007 India Rank 39 in 150 countries
Logistic performance with its future growth potential.

10. 3.Mr. Alok Jha CEO & MD of Cyberplat

11. CYBERPLAT- Alok Jha
The payment processing industry provides merchants with credit, debit, gift and loyalty card and other payment processing services, along with related information services.
According to the Nilsson Report, total expenditures for just the card type transactions by U.S. consumers were $3.3 trillion in 2007, and are expected to grow to $4.8 trillion by 2012.
The payment processing industry is dominated by a small number of large, fully-integrated payment processors that sell directly to, and handle the processing needs of, the nation’s largest merchants. Large national merchants (i.e., those with multiple locations and high volumes of bank card transactions) typically demand and receive the full range of payment processing services at low per-transaction costs.
This industry has undergone significant consolidation. The costs to convert from paper to electronic processing, merchant requirements for improved customer service, the risk of merchant fraud, and the demand for additional customer applications have made it difficult for community and regional banks to remain competitive in the merchant acquiring industry.

12. CYBERPLAT Mr. Alok Jha – CEO and MD of CyberPlat
He comes with a rich experience of 20 years with Diverse Business and Cross Functional Expertise.
He is a MA from Delhi University and has done hi MMM from JBIMS, Mumbai University.
He is an expert in the Retail, Payments, E-Commerce, Innovation and Loyalty Domains.
Has been a founding team member of two start-ups.
Is also on the Board of Advisors of IIBS – International Institute for Business Studies.
Alok started his career with Mudra Communications Ltd, as a Business Director, and from there he moved to lead One to One Marketing Solutions as the CEO.
Alok’s next move was to Forbes GoKak Ltd., which has various verticals, Engineering, Garments, Shipping and Logistics and Payment Processing & Transaction Management Solutions, now owned by the Shahpoorji Mistry Group of Companies.

13. CYBERPLAT
CyberPlat, integrated broad-based multibank internet payment system, is historically the first Russian electronic payment system. The first online payment was effected on March 18, 1998 for the Garant-Park Company, and the first payment to a cellular communication operator, beeline, was effected on August 12, Currently, CyberPlat has been in operation for 14 years and is the largest, most reliable and well-adjusted payment system in Russia and CIS.
In 2011, the total turnover of the CyberPlat payment system exceeded 6.5 billion US Dollars.
At present, the CyberPlat cash acceptance network comprises over outlets, accepting cash payments for the leading operations of mobile and landline communication networks, commercial television and various service providers, including MTS, Beeline, MegaFon, TELE2 and many others in Russia, Kazakhstan, Ukraine and Germany.

14. CYBERPLAT Advantages of CyberPlat system:
One of the largest payment systems
Historically, the first payment system of Russia
Ten years of experience
Legal clarity of operations
Security is guaranteed by the digital signature
Online payment of commissions
Enhanced fault tolerance
24/7 support service

15. WE TUBE

16. 1.Practical Time Management Tools for Managers Prof. Chinmay Kamat

17. Leveraging Technology for Goal Setting
Ms word or MS EXCEL to manage your to do List.
Microsoft Outlook,and other services such as Gmail, have task lists and To-DO List as standard features.
‘Todolist’is another popular online task management tool that will sync with your smart phone, PDA,or account.

18. To-Do list –Computer-based To-do List
To do list automatically synchronizes your task across your devices.
Manage projects of any complexity by creating
nested task.
Adding deadlines ,asigning priorities and using color-coding.
Todoist features everything you need and nothing you don’t.
VIDEO : TODOIST
Todoist is managing more than 10 lakhs task.
Manage Todoist from Microsoft Outlook.

19. SMART GOALS Step for Smart Goals:- Idea to change something
Get specific
Goal should be Measurable
Goal should be achivable
Goal should be Realistic
There should be Time framed.

20. Treasure Mapping
It involves creating a physical representation or collage of what you want to achieve. It acts as a constant reminder and representation of your goals.
Benefits of Treasure Mapping:-
1) Enhanced personal & Professionl life
2) to get out of difficult situations

21. 2. Introduction to Supply Chain Management (Prof Avinash potdar)

22. Supply Chain try to maximize the total value generated =
What is supply chain?
Two or more parties by flow of resources –typically material,information,and money – that ultimately fulfill a customer request .
Supply chain must be as under:-
Manufaturer Wholesaler Distributer End user (customers)
Logistics /supply Chain Management
What is Logistics ?
It is the planning and Implementing cost effective flow of goods from the point of origin to the point of consumption.
Supply Chain try to maximize the total value generated =
[what customer pays]-[Total effort expended to fulfill]

23. L O G I S T I C S
is nothing but
and
Store move

24. Supply Chain Perspective:-
Product flows from one country to another country by facing various challenges according to geographical Perspective.
Product flow from supplier to manufacturer to distributor to customer i.e down stream.
SCM perspective cycle-
1 customer – Retailer (Customer Order cycle) 2 Retailer – Distributor (Replenishment Cycle)
3 Distributor – Manufacturer (Manufacturing Cycle)
4 Manufacturer – Supplier
Every Supply chain not always have Four cycle.

25. 3. Emotional Intelligence at Workplace

26. Workplace is a Sea of Emotions.
We do not work alone like, a commando; we are interdependent each other.
We work at two levels in workplace:-
Goal/result attainment
People engagement
When we communicate formally in organization, we mask our emotions and feelings.
When we communicate informally we almost tend to ‘expose ‘our emotions and feelings.
Emotional intelligence is defined as the capacity to recognize our feelings and emotions & those of others, understand them, adapt to them, accept them and act upon them.

28. There are 4 stages towards developing Emotional Intelligence:-
Self-Awareness:- The ability to read ones emotions and recognize their impact while using
Gut feelings to guide.
It is emotions that attach meaning to words and expressions. The same word or expression
Every interaction whether with one self or with others has a major emotional base word or every word or expression we here and utter are emotionally connected to us.
Self – Management: - Involves channelizing emotions and impulse and adapting to change circumstances.
After we recognize our emotions and the reasons why they occur, we need practice to manage them to preserve our comfort levels.
Repeated practice leads to calmness of life and the skill to see the larger pictures.
Techniques used to learn : - “ Pause and observe “ emotions when they overwhelm us.

29. Social Awareness:-The Ability to sense, understand and react to others emotions while comprehending social networks.
We interact with people all the time. To develop awareness and sensitivity towards the emotions of others we need to practice the art off listening and empathy.
PauseListenListen as if you are the other person.
When we communicate after that, we find our words and expressions would empower people with concerns not only for results but also for emotions of other person.
With Regular practice we find ourselves comfortably handling people and People would find themselves comfortable with us.
Relationship Management:- The ability to inspire, influence and develop others while managing conflict.

30. The Big 5 (five) Personality Traits4.
The Big 5 (five) Personality Traits

32. Openness : People displaying an openness personality are open-minded and receptive to new ideas. They are adventurous and eager to go move out of their comfort zone and experience new things. They prefer to come out of their monotonous routine. They seek to learn new things that enhance their knowledge. They enjoy finding a solution to a creative puzzle. Scientists and professional artists tend to have high openness levels and score high on creativity. Low openness is an indication of conservative behavior and unwillingness to accept liberal views. Although people with low level of openness are not good at showcasing their creative skills, they may be efficient in doing monotonous jobs.
Conscientiousness: Self discipline and dutifulness are the two important aspects of a conscientiousness personality. A highly conscientious person performs his day-to-day tasks in the most disciplined manner. He is highly responsible, well-organized, and very particular about planning to achieve goals. Their various aspects of life reflect the characteristics of conscientiousness. For instance, their homes are clean and organized, free from any sort of clutter.

33. Extraversion: This personality trait has a significant impact on social behavior. People with extraversion personality trait are highly social. They tend to have strong social skills and are extremely friendly. They like interacting with people and enjoy attending social events like parties. They are attention seekers, enthusiastic, talkative, and love engaging in deep discussions. They are assertive and are at ease while talking to others
Agreeableness: Politeness and compassion are the hallmarks of people having this personality trait. People with this personality trait are more than happy to help others. Agreeableness has been associated with good behavior. They are good-hearted people, extremely cooperative and trustworthy. Positive aspects, such as politeness, being courteous and considerate to others, can be noticed when interacting with people having this personality trait.
Neuroticism: People who show high degree of neuroticism are least stable emotionally. They tend to overreact to little things and get upset easily. They face a hard time managing stress and are vulnerable to induction of negative mood.

34. 5.Towards New Horizons -: Women Empowerment
(Prof Malini Shah)

35. The main problems faced by women in past and present :
Gender discrimination
Women education
Female infanticide
Dowry
Marriage in same caste and child marriage
Atrocities on women: With their age, they have been raped, kicked,
killed, subdued & humiliated almost daily.

36. Why need of women empowerment?
“Women are worshipped as goddess in INDIA,
But not given her true position.”

37. NewsWire.

38. WHAT IS THE IMF'S BENCHMARK CURRENCY BASKET?

39. HOW IMPORTANT IS THE SDR?
WHAT IS THE SDR?
The SDR was created in 1969 as a virtual currency and an international reserve asset. Its value, set every day, is determined by a basket of currencies comprising the US dollar (41.9 per cent), the euro (37.4 per cent), pound sterling (11.3 per cent), and yen (9.4 per cent).
HOW IMPORTANT IS THE SDR?
As of September 10, there were billion SDRs in circulation, worth about $280 billion. That's equivalent to less than 2 per cent of total global reserve assets of $11.46 trillion as of the end of June. The IMF allocates SDRs to its members depending on their stake in the Fund, and members can exchange them for hard currency if they want to adjust the composition of their reserves. The SDR interest rate, based on three-month market rates for debt in the respective currencies, governs the cost of IMF loans to members.

40. WHAT CRITERIA COUNT IN THE REVIEW?
IMF staff found in a report in July that the yuan still had a way to go in meeting the freely usable criteria, for example pointing to sparse trading outside Asian markets and a low volume of yuan-denominated international debt. But China has since announced reforms to tackle many of the shortcomings identified. Ultimately the decision will come down to the judgment of IMF members, as represented by the executive board. Countries like Britain and France have already signaled that they would support the yuan's inclusion.
HAS THE SDR BASKET'S COMPOSITION CHANGED BEFORE?
The basket size was cut from 26 currencies to five in 1980, and in 2000 the euro replaced the Deutschmark and the French franc in the basket.
- ECONOMIC TIMES

41. YOU NEED TO KNOW ABOUT THE GOODS AND SERVICES TAX

42.  What is goods and services tax (GST)?
The proposed levy will be a single tax that will cover all levies at the Centre and state level, including entry tax. It is a value-added tax, which means a levy at each stage of production, sale or consumption will be set off against taxes paid in the previous stage. Through a system of tax credits, those who are in the intermediate stages of a chain of production will get credits or refunds for whatever levies they have paid. This avoids cascading of taxes for the end consumer. Unlike the existing VAT, which is levied only on manufactured goods, GST will also include services.
Although the plan has been discussed for years, a formal announcement was made in the 2006 Budget by P Chidambaram, the then finance minister. Since then, it has missed several deadlines. The government is now hoping for its nationwide roll-out from April 2016.

43. Why was it held up?
When the system was first discussed, there was great enthusiasm. But, slowly states started raising objections. One reason is that finance ministers would lose control over the taxation system and be unable to give discretionary concessions. The other area of concern is potential loss of revenue from cash cows such as petroleum, which makes up for almost half the revenue for some states. There was also an element of bargaining in the states' objections.
What's the current status?
The Lok Sabha has approved a Bill to amend the Constitution so that the Centre can levy the tax. However, its fate remains uncertain due to the NDA's lack of majority in the Upper house, but the government is confident that it will be able to secure the Rajya Sabha's approval. The Centre has assured states that it will compensate them for revenue loss due to GST roll-out, besides providing flexibility on entry tax and taxing oil products. Once the Constitution is amended, several other gaps need to be filled, including the rate of tax, which may be in the region of 11-12% for basic necessities.

44. How does the corporate sector gain?
How will GST impact households?
Ultimately, it should result in a lower burden on consumers as the levy will be at the point of sale and central and the state taxes will be merged into one levy.
How does the corporate sector gain?
The incidence of tax in sectors such as real estate is expected to come down by 25% since companies will be able to claim credits or set-offs for taxes they pay on goods and services. In addition, the refund mechanism for taxes paid across the country is expected to be more efficient, thanks to the proposed IT backbone. Currently, industry complains that refunds and credits are tough to claim and even more difficult to get.
How does the government and the economy gain?
The tax system is expected to become more efficient, which should help boost the economy and hence revenue collections. Some estimates say the impact on the GDP growth rate could be between 0.9 and 1.7 percentage points.
- ECONOMIC TIMES

45. THE FUTURE OF CAPITALISM

46. Capitalism is an economic system that is based on private ownership of the factors of production and profit as the primary motive of production of goods and services. Other elements central to capitalism include competitive markets, wage labor and capital accumulation. Capitalism is the most dominant form of economic system today that has been adopted, in varying degrees, by nearly every country of the world. According to its proponents, capitalism gives an economy a much better shot at achieving prosperity, growth, transparency and efficiency for all its stakeholders than Socialism, which is characterized by social ownership of the means of production and co-operative management of the economy. The economic turmoil that the world has witnessed very early in the 21st century, though, has stirred up some soul-searching about this system among the decision-makers, policy-makers as well as intellectuals all around the globe.

47. The case against capitalism
Frank Borman, former NASA astronaut who led its first mission to fly around the Moon, famously said during his years as the chairman of Eastern Airlines that Capitalism without bankruptcy is like Christianity without Hell.
Whether hell exists or not may still be a subject of religious faith but it has been well established by now that bankruptcy is part and parcel of capitalism.Large corporations like Enron, WorldCom and Lehman Brothers have collapsed due to reasons ranging from accounting fraud and malpractices to greediness and financial imprudence of its executives. But bankruptcy is just one of the ills of capitalism which has been decried as the new imperialism by many of its critics. Throughout its history beginning from the middle ages in Europe right to the aftermath of the 2008 financial crisis, capitalism has attracted criticism and condemnation of those fiercely opposing it in favor of implementation of socialism.
Criticism of capitalism ranges from expressing disagreement with the principles of capitalism in their entirety, to expressing disagreement with particular outcomes of capitalism. In essence, the opposition is about the inefficacy of capitalism in achieving all-inclusive growth and prosperity for all sections of society. Detractors contend that capitalism creates very large concentrations of money and assets at the hands of a relatively small minority of the global human population, leading to large and increasing wealth and income disparities between the elite and the majority of the population. The following graph depicting the change in pay/wage in U.S. over 1990 to 2005 also lends credence to this claim.

48. Another concern cited is the rise of huge (often multinational)corporations causing a structural erosion of such basic human and civil rights as equitable political and socio-economic power representation and a destruction of economic freedom.
Critics of capitalism, particularly Marxists, identify market instability as a permanent feature of capitalist economy. Marx believed that the unplanned and explosive growth of capitalism does not occur in a smooth manner, but is interrupted by recessionary periods of overproduction in which stagnation or decline occurs. In the view of Marxists, several contradictions in the capitalist mode of production are present, particularly the internal contradiction between anarchy in the sphere of capital (i.e., free market) and socialized production in the sphere of labor (i.e., industrialism).
We have witnessed a multitude of recessions around the world and especially in capitalist countries like U.S. The most recent one i.e., the subprime mortgage crisis of 2008 was accompanied by a global financial meltdown affecting all the major economies of the world as well as small and seemingly isolated economies like Iceland. On the one hand, firms collapsed and millions lost their jobs while on the other, as if adding salt to the wound, the CEOs and CFOs of many of these failed companies walked away with hefty bonuses severance packages.

49. The road ahead
Nearly everybody agrees that a certain more responsible form of capitalism is in any case warranted. But the more important and contentious question which has got people on separate sides of the fence is that whether capitalism is in itself an inherently flawed system that needs to be discouraged and superseded by an altogether different system for conducting the world’s economy.
For answering this question, a distinction can and should be made between the various kinds of capitalism, including laissez-faire capitalism, welfare capitalism and state capitalism. Whereas the laissez-faire form of capitalism most logically constitutes the roots of the recent financial and economic crisis, state capitalism doesn’t come without its ills, given its tendencies to give rise to authoritarian forms of governance, most notably in nations like China and Russia. If there are pitfalls to both of these models, where then does the solution lie? A case can be made for the welfare form of capitalism which refers to the combination of a capitalist economic system with a welfare state. However, the basic approach which is advocated in this system, that of embracing capitalism with all its strengths and weaknesses and then funding the welfare measures through policies of re-distributionist taxation and the like, represent a sort of patch-up work being done to shield the lower strata of the society from exploits of the upper class.

50. In my opinion, more elegant ways of refining capitalism to fit the needs of the 21st century’s society can be envisaged. A country’s government, fortunately or unfortunately, must have a major role to play in that transformation. The challenge therefore is not just to capitalism but also to politics. Instead of facilitating predatory commercial activities such as those witnessed recently on part of certain too-big-too-fail corporations of the western world, government policies must aim for encouraging productive businesses that invest, invent, train, make and sell real products and services. Instead of nurturing enterprises seeking the fast buck through hostile takeovers, asset-stripping and leveraging on complex financial instruments that do not protect the interests of the shareholders, the employees or the economy at large, those enterprises which place an equal emphasis on job creation and overall development of the country’s economy as on creating profits for themselves should be fostered.
At the end of the day, governments must remember they are elected to serve the people, not the powerful lobbies which can pay for access or influence. Governments all around the developed as well as the developing world need to show much more leadership in piloting the economy of the world and all must participate in ensuring a safe and sustainable economic future for this world.
(This article has been authored by Rohit Khattar from IIFT Kolkata.)
MBA SKOOL

51. HSBC TO WIND UP PRIVATE BANKING BUSINESS IN INDIA

52. An HSBC spokesperson said the bank's private banking business will be closed down by the first quarter of 2016 and some of its private banking clients will be moved to its premier banking division. "We will work closely with our clients to minimise the impact of this decision on them, offering them the choice to move to HSBC Premier, our global banking and wealth management proposition, wherever appropriate," the spokesperson said. 
HSBC did not give any reasons for its decision, but banking executives within and outside the bank said the move is a direct fallout of the information leak by former HSBC staffer Herve Falciani in 2008 which included names of 1,195 Indians who had evaded taxes in the country to stash it in the bank's Swiss branches. The names of the 1,195 Indians were released by the International Consortium of Investigative Journalists in February.
Meanwhile, on Friday, Falciani was found guilty of violating banking secrecy laws. He was given a five-year prison sentence by a Swiss court. Falciani, a French citizen, stayed out of Switzerland during the trial and it is unlikely he will serve time in a Swiss prison, because France doesn't extradite its own citizens.

53. "In view of the tax evasion inquiry, HSBC's private banking compliance was enhanced, as a result of which it became impossible for them to do business with these very demanding high net worth clients," said an executive from the bank.
HSBC did not say whether the closure of its private banking business in India would lead to job losses. However, executives at rival private banks said they expect the British lender to lose both staff and clients.
"There are about 70 people in the business here. Some of them will move out and likely take their clients with them. We are already exploring what opportunities it holds for us," said a private banking executive from a rival bank.
HSBC was among the top ten wealth managers in the country, with about 1,000 clients and assets under management of about $2-2.5 billion. Private banking business services high net worth individuals who have a minimum of $1 million to invest.
In contrast the minimum cut-off for Premier Banking is just Rs 25 lakh. Bankers said high net worth clients would prefer to shift their portfolio to other banks rather than continue with HSBC.

54. INCREASE IN INFRASTRUCTURE DEALS SEEN FOR 2016

55. Investments from a new set of infra buyers likely, say experts, with a number of such deals in due diligence stage
After a strong year in 2015, deals in the infrastructure sector are expected to rise further this year, promising increased investments from a new set of infrastructure-focused buyers, said sector analysts and investment bankers. A number of such deals are in the due diligence stages and could close during the course of the year, they said.
The last year saw several Indian infrastructure developers, weighed down by debt, announce exits from individual highway and power projects to monetize assets and repay creditors. Dozens of assets across roads, power and renewable energy, and several others across ports and airports, are on the block now in the hope of securing attractive valuations.
At the same time, the infrastructure sector as a whole raised about $3.7 billion from 36 transactions in 2015—through mergers and acquisitions (M&As), initial public offerings (IPOs), qualified institutional placements (QIPs) and private equity investments, according to data from Equirus Capital, an investment bank. This is 27% higher than the $2.9 billion raised across 23 transactions in 2014.

56. Khemani said that transactions will increase as the investment environment improves. 
Funds such as US-based I Squared Capital, Indian asset manager IDFC Alternatives’ infrastructure fund, Canada’s Brookfield Asset Management and Macquarie Group are among active infrastructure-focused financial investors who have invested in the sector and are looking to buy assets across roads, thermal power and renewable energy to build their own portfolio in India. While some groups, including Gammon Infrastructure Projects Ltd, Madhucon Projects, Welspun Enterprises and Jaiprakash Power Ventures Ltd, have sold assets, others including Anil Ambani-led Reliance Infrastructure Ltd and Hyderabad-based NCC Ltd are still in talks with potential buyers.
Tata Power, JSW Energy and Adani Ltd are among Indian firms looking to buy stressed assets in the power sector. French energy producer Engie, Italy’s Enel Green Power, US-based SunEdison Inc. and First Solar, and China’s Trina Solar are among strategic investors who have entered the Indian renewable energy sector.

57. A handful of infrastructure firms also managed to raise funds from the primary markets. Sadbhav Infrastructure, PNC Infratech, Inox Wind and MEP Infrastructure went public during the calendar year.
While public sector investments still lead the way in infrastructure spending as private sector companies grapple with huge debt, a number of reforms by the central government, such as pushing stranded projects, are helping companies.
A recent easing of government norms, allowing highway developers to fully divest their operational projects, is helping speed up deal closures in the road sector. Recent policy changes have resulted in greater investor confidence and more funds are open to looking at investing in the Indian infrastructure sector.

58. INDIA IMPROVES POSITION IN FINANCIAL TRANSPARENCY

59. India has made significant progress in the past two years in financial transparency. According to the global financial secrecy index (FSI) report released by Tax Justice Network (TJN), India ranked 45 in the list of 92 countries in 2015 in comparison to 32 in 2013, which is seen as a big jump. 
The ranking takes into account the processes put in place to bring transparency and reduce secrecy around financial dealings. 
The Centre has taken several steps to crack down on black money and illicit wealth including stringent laws to blunt illegal wealth stashed overseas. It has also signed agreements with several foreign countries for exchange of information and is also bringing a legislation to tackle domestic black money . 
The report says that Switzerland, Hong Kong, Luxembourg, Singapore, Germany , USA and Cayman Islands continue to find place among the top 10 nations with poor financial transparency regime. Japan and Jersey have been replaced in the top 10 by Bahrain and UAE, particularly Dubai, in 2015.

60. "Most countries' secrecy scores have improved
"Most countries' secrecy scores have improved. Real action is being taken to curb financial secrecy, as the Organisation for Economic Development ( OECD) rolls out a system of automatic information exchange (AIE) where countries share relevant information to tackle tax evasion. The EU is starting to crack open shell companies by creating central registers of beneficial owners and making that information available. The EU is also requiring multinationals to provide country-by-country financial data," the report said. 
However, the independent think tank has claimed that these global and regional initiatives continue to be flawed and face sabotage by lobbies that have already weakened them. 
The report raised serious concern over the USA's ranking rising from sixth to third place between 2013 and 2015.
- ECONOMIC TIMES

61. YAHOO MESSENGER REBUILT WITH EYE TO THE FUTURE

62. Yahoo launched a next-generation messaging platform Thursday in an ambitious bid to steal a march on a crowded field, as rumors swirled that the Internet pioneer is considering selling its core business.
New Yahoo Messenger apps were released in English for smartphones or tablets powered by Apple or Android software, as were versions of the service tailored for use on the Web or on desktop computers.
The updated instant messaging platform is replacing its predecessor in Yahoo's free service, which boasts 225 million monthly users.
It is the first complete remake of Yahoo Messenger since it was introduced 17 years ago and comes as smartphone lifestyles have led to a booming trend of firing off digital missives or photos at nearly any opportunity.
 Yahoo is up against some well-established rivals such as WhatsApp, Snapchat, iMessenger and Facebook Messenger.

63. "Yahoo decided it was time to build a ground-up rewrite of the platform that was completely modern and prepares Yahoo to ship really disruptive innovative features," Yahoo Messenger senior director of product management, Austin Shoemaker, said while giving AFP a look at the platform.
The new messaging service integrates features from Yahoo-owned Flickr, Tumblr, and Xobni, according to Shoemaker.
Yahoo Messenger lets people quickly share large batches of high-resolution images, and taps into the library at blogging platform Tumblr to let people add animated GIFs to conversations as easily as inserting emojis.
The ability to "unsend" comments or images was also added to Yahoo Messenger. Posts that are "unsent" vanish from conversation threads at the service.
"We are glad to be blending ephemeral messaging and persistent messaging in a novel way," Shoemaker said.

64. It's way better than having no control at all."
New Yahoo Messenger also lets people "mute" conversations to be spared from being bothered by notifications when they would rather focus their attention elsewhere.
Yahoo is smoothing the transition from the old to the new version of its messenger service, helping import contact lists and making sure people can connect with one another regardless of which they use.
The old version of Yahoo Messenger will be eventually phased out, according to Shoemaker.

65. FORMULA PLANS IN PORTFOLIO MANAGEMENT

66. The investor uses formula plans to facilitate him in making investment decisions for the future by exploiting the fluctuations in prices.
The formula plans have sketched the basic rules and
regulations for purchasing and selling of investments.
The formula plans make the average investors superior
to others. These formula plans in portfolio management
are based on the fact that the investors will not have the
of forecasting fluctuation in stock prices and will continue
act according to formula.
So, formula plans are a type of investment strategy that makes use of pre-determined rules for the nature and timing of change in one’s investment portfolio as the market rises or falls.

67. Rules for Formula Plans
·         These plans work according to a methodology which is related for the working of each plan
·         These plans cannot be used for short periods of time. The longer the period of holding the investments, the easier for formula plans to work.
·         Generally the formula plans are strict, rigid and straight forward out they are not flexible
These plans suggest that there must be two portfolios of an investor, namely aggressive portfolio and conservative portfolio. These plans do not have a selection procedure for the stocks. The methodology adopted by the formula plans is to find out the difference in movements of the aggressive portfolios and the conservative portfolios. The formula plans disclose that when the stocks must be purchased and sold.

68. STRATEGIC MANAGEMENT : HOSTILE ACQUISITIONS

69. The replacement of poor management is a potential source of gain from acquisition. Changing technological and competitive factors may lead to a need for corporate restructuring. If incumbent management is unable to adapt, then a hostile acquisition is one method for accomplishing change.
 Hostile acquisitions generally involve poorly performing firms in mature industries, and occur when the board of directors of the target is opposed to the sale of the company. In this case, the acquiring firm has two options to proceed with the acquisition tender offer or a proxy fight. A tender offer represents an offer to buy the stock of the target firm either directly from the firm’s shareholders or through the secondary market. In a proxy fight, the acquirer solicits the shareholders of the target firm in an attempt to obtain the right to vote their shares. The acquiring firm hopes to secure enough proxies to gain control of the board of directors and, in turn, replace the incumbent management.

70. Management in target firms will typically resist takeover attempts either to get a higher price for the firm or to protect their own self-interests. This can be done a number of ways. Target companies can decrease the likelihood of a takeover though charter amendments. With the staggered board technique, the board of directors is classified into three groups, with only one group elected each year. Thus, the suitor cannot obtain control of the board immediately even though it may have acquired a majority ownership of the target via a tender offer. Under a super majority amendment, a higher percentage than 50 percent, generally two-thirds or 80 percents required to approve a merger.
 Other defensive tactics include poison pills and dual class recapitalizations. With poison pills, existing shareholders are issued rights which, if a bidder acquires a certain percentage of the outstanding shares, can be used to purchase additional shares at a bargain price, usually half the market price. Dual class recapitalizations distribute a new class of equity with superior voting rights. This enables the target firm’s managers to obtain majority control even though they do not own a majority of the shares.

71. INTERNATIONAL FINANCE: BENEFITS OF FORWARD EXCHANGE CONTRACTS

72. Forward exchange rates, like spot exchange rates are determined by the demand for and the supply of forward exchange. If the supply of forward exchange exceeds the demand for it, the forward rates will be quoted at a discount over the spot rate i.e., forward exchange rate will be lower than the spot exchange rate. On the other hand, if the demand for forward exchange exceed its supply, the forward rates will be quoted at a premium over the spot rate i.e., forward rate will be quoted at a premium over the spot rate i.e., forward rate will be higher than the spot rate. The demand for forward exchange arise, mainly, from:
1.    Imports,
2.    Outflow of capital,
3.    Arbitrage operation and
4.    Bullish speculation.

73. Forward exchange operation provide an opportunity to traders to safeguard themselves against the risks arising from changes in exchange rates. Normally traders are interested in making their profits by marking up the purchase price by a certain percentage. In foreign trades, the purchase and sale price of the traders is expressed in terms of different currencies. When purchase and sale prices are expressed in terms of different currencies, changes in exchange rate may upset all the calculation of the traders. Risks from changes in exchange rates are particularly high under the system of free and fluctuating exchange rates. Such risks are not very important under pegged exchange rates and gold standard. If the traders wish to avoid these risks and to concentrate on their normal functions (i.e., trading activities), and the risks involved, in these, they can contract in advance to buy or sell foreign exchange, equivalent to the amount of payment they expect to make or receive at a guaranteed rate.