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Billionaire Gautam Adani's: A hidden gem with 351 subsidiaries

<p style="text-align: justify;">- <span face="Roboto, Arial, Sans-sarif" style="color: #2b2b2b; white-space: nowrap;">Anand Adhikari</span><span face="Roboto, Arial, Sans-sarif" style="color: #2b2b2b; white-space: nowrap;"> </span></p><div class="separator" style="clear: both; text-align: center;"><span face="Roboto, Arial, Sans-sarif" style="color: #2b2b2b; white-space: nowrap;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEja924BdwT9m-n1ksKlxAQ5VL14AVmhAQUYCYjFqnzoq0wtjO_B02DKygATIFuFT32OczkXa0rqaTTcfUcS849QcpcZEc9NZ71e-tfzhRe5gQecgjjBSJSYKeHEh4Wx6sYV0i0C3nJvghTM9QFeSX85KC7NUU6HBKsVBJy1teLWDVBy7jTuqouPSA/s474/OIF.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="266" data-original-width="474" height="360" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEja924BdwT9m-n1ksKlxAQ5VL14AVmhAQUYCYjFqnzoq0wtjO_B02DKygATIFuFT32OczkXa0rqaTTcfUcS849QcpcZEc9NZ71e-tfzhRe5gQecgjjBSJSYKeHEh4Wx6sYV0i0C3nJvghTM9QFeSX85KC7NUU6HBKsVBJy1teLWDVBy7jTuqouPSA/w640-h360/OIF.jpg" width="640" /></a></span></div><span face="Roboto, Arial, Sans-sarif" style="color: #2b2b2b; white-space: nowrap;"><br /></span><p></p><p><span class="dropcap-element-slot" style="background-color: white; color: #2b2b2b; float: left; font-family: "Eb Garamond"; font-size: 64px; line-height: 52px; margin-right: 8px;">I</span><span face="Roboto, Arial, Sans-sarif" style="background-color: white; color: #2b2b2b; font-size: 17px;">ndian promoters starved of capital often pledge their shares to create the foundation of new businesses or infuse equity to expand existing businesses. That's what billionaire Gautam Adani did with whatever little shares he pledged in his listed companies, where he also faced some margin pressure because of a massive fall in their share prices.</span></p><p><span face="Roboto, Arial, Sans-sarif" style="background-color: white; color: #2b2b2b; font-size: 17px;">Adani Properties, based in Ahmedabad, is one such little-known unlisted company that has invested in Group businesses.</span></p><p data-t="{"n":"blueLinks"}" style="background-color: white; color: #2b2b2b; font-family: Roboto, Arial, Sans-sarif; font-size: 17px; margin: 0px 0px 16px;">This three-decade-old company is one of the promoter group companies that hold investments on behalf of Gautam Adani family in flagship Adani Enterprise, Adani Ports and SEZ,  Adani Power, Adani Green Energy, and Adani Transmission.</p><p data-t="{"n":"blueLinks"}" style="background-color: white; color: #2b2b2b; font-family: Roboto, Arial, Sans-sarif; font-size: 17px; margin: 0px 0px 16px;">The size and scale of this unlisted company would dwarf many listed companies in the market. It boasts of operating revenues of Rs 11,144 crore and profits after tax of Rs 4,763 crore for 2020-21. It has a debt of Rs 28,618 crore and a net worth of Rs 41,293 crore. What is interesting is the growth in the balance sheet, which has jumped from Rs 37,446 crore in 2019-20 to a staggering Rs 74,499 crore in 2020-21.</p><p class="continue-read-break" data-t="{"n":"blueLinks"}" style="background-color: white; color: #2b2b2b; font-family: Roboto, Arial, Sans-sarif; font-size: 17px; margin: 0px 0px 16px;">The company's primary business is the wholesale trading of goods. It also has investments in real estate and financial services via multiple subsidiaries. In fact, it has a record 351 subsidiaries, associate companies and joint ventures.</p><div class="article-clear-div" style="background-color: white; clear: both; color: #2b2b2b; font-family: Roboto, Arial, Sans-sarif; font-size: 17px;"></div><p data-t="{"n":"blueLinks"}" style="background-color: white; color: #2b2b2b; font-family: Roboto, Arial, Sans-sarif; font-size: 17px; margin: 0px 0px 16px;">The list of properties also includes 8.21 lakh square feet of land in Mumbai's Bandra Kurla Complex. However, this property is pledged against the loan availed by the company. There are many other properties spread across Gujarat and other states. </p><p data-t="{"n":"blueLinks"}" style="background-color: white; color: #2b2b2b; font-family: Roboto, Arial, Sans-sarif; font-size: 17px; margin: 0px 0px 16px;">More recently, Adani Properties was in the news for winning the bid to renovate Dharavi, one of the biggest slum colonies in Asia.</p><p data-t="{"n":"blueLinks"}" style="background-color: white; color: #2b2b2b; font-family: Roboto, Arial, Sans-sarif; font-size: 17px; margin: 0px 0px 16px;">Many in the market speculate that Adani Properties will be a vehicle for meeting any short-term funding needs of the group companies. In fact, the group recently repaid loans totalling $ 1.11 billion in order to release pledged shares in three companies: Adani Green Energy, Adani Ports, and Adani Transmission. It is not known how the promoters raised the resources. "Adani Properties' strong financials enable the company to raise additional debt resources or monetise part of the assets in the book," says a banker. </p><p data-t="{"n":"blueLinks"}" style="background-color: white; color: #2b2b2b; font-family: Roboto, Arial, Sans-sarif; font-size: 17px; margin: 0px 0px 16px;">An email sent to the company remains unanswered till the time of publishing this story.</p><p data-t="{"n":"blueLinks"}" style="background-color: white; color: #2b2b2b; font-family: Roboto, Arial, Sans-sarif; font-size: 17px; margin: 0px 0px 16px;">Adani Properites has the acceptance and backing of global bankers. Many have invested in the unlisted company. Big names such as Credit Suisse, Barclays Merchant Bank, Copthall Mauritius, DB International among others recently subscribed to the company's non-convertible debenture issue.</p><p data-t="{"n":"blueLinks"}" style="background-color: white; color: #2b2b2b; font-family: Roboto, Arial, Sans-sarif; font-size: 17px; margin: 0px 0px 16px;">Adani Properties has Adani Commodities, SB Adani Family Trust and Gautam Adani as its shareholders. Adani Commodities owns 44.11 per cent, SBI Adani Family Trust has 40.30 per cent and the balance of 15.59 per cent is in the name of Gautam Adani.</p>

Billionaire Gautam Adani's: A hidden gem with 351 subsidiaries

- Anand Adhikari I ndian promoters starved of capital often pledge their shares to create the foundation of new businesses or infuse equi...

February 13, 2023

Bombay HC refuses to defer deadline to link Aadhaar with ration card

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<b>Mumbai, Feb 25 (PTI) </b>The Bombay High Court has refused to defer the March 31 deadline imposed by the Union government for linking Aadhaar to ration card. </div>
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A bench of justices Shantanu Kemkar and Rajesh Ketkar, however, directed the Maharashtra government to look into the grievances of technological glitches faced by residents of the state in the digitisation of their ration card, and subsequently, in linking it to their Aadhaar card.

The bench was hearing a petition filed by Nashik resident Aziz Pathan. </div>
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According to the plea filed in 2015, the Maharashtra government issued a resolution notifying a scheme for digitisation of ration cards.

The scheme was launched in compliance with an order of the apex court and was aimed at streamlining and bringing about more transparency in the public distribution system (PDS).</div>
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The scheme includes digitisation of ration cards, installation of electronic point of sale devices at fair price shops and issuance of food grains through biometric authentication. It stipulates including the beneficiaries' Aadhaar numbers in their ration card database.

However, according to the plea, several beneficiaries from Nashik district were facing problems in the digitisation of their ration card, and their biometric authentication. </div>
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Pathan said there were inconsistencies in the biometric machines and the upgraded ration cards of several residents of Nashik bore incorrect names, addresses, and employment and caste details.

He said because of these inconsistencies, the residents were facing difficulties in linking their Aadhaar cards with ration cards and as a result, the linking process was getting delayed.

Pathan urged the court to grant an interim relief by deferring the March 31 deadline, and directing the state government to ensure the affected citizens did not lose out on receiving food grain subsidies and other benefits under the PDS, if they failed to link the ration cards with the Aadhaar by March 31 this year. </div>
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The bench, however, refused to defer the deadline saying that going by Pathan's plea, it seemed the problem was limited to Nashik district alone.

The court asked Pathan to approach the state authorities for redressal of his grievance. </div>
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The bench also directed the Maharashtra government's food, civil supplies and consumer protection department to grant an urgent hearing to Pathan, and to address his grievance within a week's time.

The bench, on February 23, directed the department to look into the reasons for such frequent mistakes in the digitisation process across Nashik. </div>
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"We are of the opinion that the grievance is mainly restricted to Nashik district. We think the petitioner can approach the food supplies department in Mantralaya (the state secretariat) and make a representation there and apprise the authorities of the issues faced by citizens in his district," the bench said. </div>
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"The secretary of the department concerned must also treat this petition as a representation and look into the problems faced by the residents in the digitisation of their ration cards," the bench said.

"We expect the secretary to take appropriate decision expeditiously and within a maximum period of one week," it said.</div>
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Bombay HC refuses to defer deadline to link Aadhaar with ration card

Mumbai, Feb 25 (PTI) The Bombay High Court has refused to defer the March 31 deadline imposed by the Union government for linking Aadhaa...

February 25, 2018

Rupee gains 6 paise against dollar in opening trade

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<b>Mumbai, Feb 26 (PTI) </b>The rupee strengthened by 6 paise to 64.67 against the dollar at the forex market today on fresh selling of the American currency by exporters and banks amid strength in domestic equities.</div>
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Dealers said dollar's weakness against other currencies overseas and early gains in domestic equity markets supported the rupee.
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On Friday, the rupee had gained 31 paise to end at 64.73 against the US dollar.
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The dollar eased after climbing Friday on the back of the comments from the US Fed cementing expectations of more aggressive US rate hikes this year.
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The euro's gains, however, are being tamed by uncertainty ahead of elections in Italy, one of the eurozone's biggest economies.
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Meanwhile, the benchmark BSE Sensex rose by 133.78 points, or 0.39 per cent, to 34,275.93 in opening trade today.
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According to the provisional exchange data, foreign investors sold shares worth Rs 486.32 crore on net basis on Friday.
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Rupee gains 6 paise against dollar in opening trade

Mumbai, Feb 26 (PTI) The rupee strengthened by 6 paise to 64.67 against the dollar at the forex market today on fresh selling of the Ame...

February 25, 2018

Auto-Makers say lack of policy not to hamper development of evs.

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<b>New Delhi (PTI): </b>Automobile manufacturers, Maruti Suzuki, Mahindra  Electric and Mercedes-Benz have said that the absence of an electric vehicle (EV) policy will not come in the way of their developing the eco-friendly vehicles. NITI Aayog CEO Amitabh Kant had said last week that there was no need for a policy for EVs as an action plan has been prepared and technology should not be trapped by rules and regulations. </div>
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 “As far as we are concerned, there is no change in our EV programme. We will go ahead with our plans as before,” Maruti Suzuki India (MSI) Chairman RC Bhargava said. He was responding to a query on whether the absence of an EV policy would alter the company’s EV development programme. MSI had announced that it planned to launch an EV in India by 2020.

Bhargava further said, “The need for electrification (of vehicles) remains and it is for the industry to work out how to do it and if they need support they have to approach the Government.” </div>
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Expressing similar views, Mahindra Electric CEO Mahesh Babu said, “Currently, we are not expecting any additional policy push. We would, however, recommend that the current support under FAME and special tax structure for EVs continues for at least the next 2 years.”

Existing schemes are being implemented on ground and the resultant increase in EV adoption should start showing in the next 1-2 years time-frame, he added.</div>
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Babu said the processing of tender for 10,000 EVs by EESL is already underway and the resultant adoption can already be noticed. Appreciating the Government’s vision of reducing pollution and oil import bills, Mercedes-Benz India Managing Director & CEO Roland Folger said, “Mercedes-Benz advocates a technology agnostic approach with the co-existence of all technologies and we should not foreclose better technological options available, when it comes to define the path for future mobility in India.”

The Internal Combustion Engine (BS-VI), the Plug-In Hybrid Electric Vehicles and the EVs should all exist together and there should be a staggered approach, he added. </div>
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 “Mercedes-Benz is fully committed to electrification and we have an ambitious plan to offer at least an electrified alternative in every Mercedes model segment by 2022 –from compact cars up to large SUVs,” Folger said.

Achieving it would mean that the company is planning to have more than 50 electric vehicle variants on the market, he added. “Of these models alone, more than ten will be purely electric passenger cars. By 2025, plans call for all-electric vehicles to account for between 15 and 25 per cent of total Mercedes-Benz sales. </div>
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This will, of course, also depend upon the development of the infrastructure and customer preferences, he said.

Players in Indian automobile industry have been seeking an EV policy to take forward their development programme after Niti Aayog come out last year with a vision for 100 per cent public transport vehicles and 40 per cent of private vehicles to become all electric by 2030.

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Auto-Makers say lack of policy not to hamper development of evs.

New Delhi (PTI): Automobile manufacturers, Maruti Suzuki, Mahindra Electric and Mercedes-Benz have said that the absence of an electric ...

February 20, 2018

Sensex rises over 150 points.

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<b>Mumbai (PTI):</b> Indian shares staged a comeback in early trade on Tuesday with the BSE Sensex gaining over 157 points and the Nifty recapturing the 10,400-level on buying by investors in metal, capital goods, teck and IT stocks amid a mixed trend at other Asian Markets.

The 30-share Sensex recovered by 157.24 points, or 0.46 per cent, to 33,931.90 in opening trade. </div>
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The index had lost 522.81 points in the previous two sessions.

Sectoral indices led by metal, capital goods, Teck and IT were trading in the green with gains of up to 0.75 per cent.

The broad-based NSE Nifty went up by 23.95 points or 0.23 per cent to 10,402.35.

Tata Steel rose up to 1.5 per cent in early trade after reports suggest the steel maker was leading bidder for debt-ridden Bhushan Steel. IT stocks TCS, and Infosys also advanced up to 1.7 per cent on a weaker rupee. </div>
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Banking stocks ICICI Bank, Axis Bank and Yes Bank gained on value buying after recent losses. Bharti Airtel, HDFC Ltd, L&T, M&M and ONGC also rose up to 1.4 per cent.

However, Punjab National Bank, embroiled in the Rs 11,300 crore scam, remained weak and shed another 3.31 per cent while Gitanjai Gems lost 9.91 per cent.

Brokers said buying by domestic institutional funds and investors amid a mixed trend at other Asian bourses improved the market sentiment. </div>
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Domestic institutional investors (DIIs) bought shares worth a net Rs 586.52 crore yesterday, as per provisional data.

Overseas, Asian stocks were trading mixed as Treasury yields climbed back toward recent four-year highs. Chinese markets will reopen on Thursday, 22 February. US markets remained closed yesterday, in observance of Presidents Day.

In the Asian region, Hong Kong's Hang Seng was up 0.66 per cent, while Japan's Nikkei was down 1.20 per cent in early trade today. Shanghai Composite remained closed for a public holiday.</div>

Sensex rises over 150 points.

Mumbai (PTI): Indian shares staged a comeback in early trade on Tuesday with the BSE Sensex gaining over 157 points and the Nifty recapt...

February 19, 2018

Ms. Ankita Singh from Ahmedabad has been awarded World Women Leadership.

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<span style="font-size: x-small;"><u>Ravindra Prabhat's Report</u></span></div>
<span style="font-size: large;">M</span>umbai : Ms. Ankita Singh (Ahmadabad) has been awarded 'Femina's presents 5th World Woman Leadership Award' during the Femina's presents 5th World Woman Leadership congress in Taj Lands End, Mumbai on 17th February 2018. </div>
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The WORLD WOMEN LEADERSHIP CONGRESS (WWLC) has been honor the strategic and influential role of various Women leaders in the development of the modern economy, technology, and administrative methodologies that promotes the advancement of the government and business organization according to the standards of global competitiveness on this occasion. like Shweta Jain, Marketing Director, William Grant and Sons India, Gazal Mehta, Chief Executive Officer & Managing Director, Ansh Gems,  Padmaja Reddy, Founder & Managing Director, Spandana Sphoorty Financial Ltd, Poorva Sharotri, Brand Head, VERO MODA Retail Pvt. Ltd, Shabnam Roy, Director - Talent Management, Intelenet Global Services, Nivedita Nayar, Marketing Communications and New Business Executive, Omnicom Media Group, Anita Nayyar, CEO-India & South Asia, Havas Media Group,  Shikha Rai, Vice President HR & IT, Canon India Pvt. Ltd, Shalini Vohra - Chief – Human Resources & Organisational Learning - Infiniti Retail Limited, Niti Shroff, Chief Executive Officer, Niti Group, Sherina Kapany, Founder, SunSTRATEGIC, Chetna Katyal Sundaram, Group Digital Marketing Head, Intex Technologies (I) Ltd, Latha T S, Public Relations Officer, Karnataka State Road Transport Corporation (KSRTC), Molly Kapoor, Head – Marketing, Birla Sun Life AMC, Bina Shetty, Director Internal Communication & Branding, Intelenet Global Services,  Prof. Akanksha Ritesh, Director, The Deeps International School, </div>
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Sevantika Bhandari, Sr. Vice President & Head Marketing, Dewan Housing Finance Corporation Ltd, Shivapriya Iyer, Asst. Manager Branding, J K Cement, Rekha Chaudhari, Managing Director, JCKRC Spa Destination Pvt. Ltd, Suchita Shetty, AVP/Head - Terminal Management (T1, T2 & Corporate Aviation) & Baggage Operations, Mumbai International Airport Pvt. Ltd, Namrata Gill Tyagi, Vice President (HR), Dr. Reddy's Laboratories Ltd, Neha Kulwal, Chief Executive Officer, Admitad Media Pvt. Ltd, Niti Shroff, Chief Executive Officer, Niti Group,  Isha Laxmi Narayan, Director, Architect Narayan & Associates Pvt. Ltd, Rachna Sharma, Founder & Managing Director, Magnum Opus India Pvt Ltd, Hema Parbhoo, Organisational Psychologist (Director), Umbo Human Potential Solutions,  Nidhi Sardana Markanday, Director, Intex Technologies (I) Ltd,  Nidhi Sardana Markanday, Director, Intex Technologies (I) Ltd,  Ivy Saldanha, Director Human Resources , Actuant India Pvt Ltd,  Tamanna Khanna, Rupa Ramamurthy, Vice President - Banking Operations, Intelenet Global Services, Kavitha Rao, Ceo , Learners Route, Meenalochani Kumar, Global Director – Organization Development, Talent & Learning, Global Director – Organization Development, Talent & Learning, Vijayalakshmi Pradeep, Assistant Vice President – Human Resources, Xpress Money Services Limited, Rashmi Chopra – Founder , R2SOLUTIONS, Meenu Chopra, DEAN- Marketing, Training & Development, World School Of Design & Architecture, Sonica Malhotra, Joint Managing Director, MBD Group, Sabina Chopra -Co-Founder & COO - Corporate Hotels, Yatra.com, Monica Malhotra Kandhari - Managing Director, MBD Group, Ruchika Mehta, Corporate Director - Communications & PR, The Park Hotels, Shalini Vohra - Chief – Human Resources & Organisational Learning - Infiniti Retail Limited, Purnota Dutta Bahl, Founder – CEO, Cuddles Foundation, Radhika Choudhary, Co-Founder, & Director, Freyr Energy Services Pvt. Ltd, Satya Vadalamani, Chairperson & Managing Director, Murli Krishna Pharma Pvt. Ltd, Tazaiyun Oomer, Founder Secretary, Humane Touch Trust, Seema Bhaskar, General Manager - People Transport Solutions Vertical, Mahindra Logistics Ltd.,  Ashvini Danigond, Founder & CEO, Manorama Infosolutions and Ankita Singh - VP and Head HR, CIGNEX Datamatics.<br />
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The WWLC was host its annual Women Leadership Awards to identify and celebrate the outstanding leadership and achievements demonstrated by Women leaders that are reflected by the distinct innovations and initiatives brought in by them in various private and public sectors.

The landmark Declaration, adopted by the General Assembly on 10 December 1948, reaffirms that "All human beings are born free and equal in dignity and rights" and that "everyone is entitled to all the rights and freedoms set forth in this Declaration, without distinction of any kind, such as race, colour, sex, language, religion, birth or other status." </div>
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As the international feminist movement began to gain momentum during the 1970s, the General Assembly declared in 1975 as the International Women's Year. The world will see more Women Leaders occupying Top management position. </div>
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The Women Leadership Award recognizes and appreciates the profound role played by women as leaders, executioners, and decision makers, in shaping the future of the region and nation, and who embody the qualities of leadership in displaying active, creative, and integrative efforts in achieving the best possible results in the national and regional development plans. 
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Ms. Ankita Singh from Ahmedabad has been awarded World Women Leadership.

Ravindra Prabhat's Report M umbai : Ms. Ankita Singh (Ahmadabad) has been awarded 'Femina's presents 5th World Woman Leader...

February 19, 2018

Baba Ramdev's Patanjali teams up with Facebook, Google for online advertisement push .

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<span style="font-size: x-small;"><u><b><span style="background-color: white; font-family: "arial";">By </span><span style="font-family: "arial"; font-style: italic;">Raghav Ohri</span></b></u></span><br />
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<span style="background-color: white; font-family: "arial";">NEW DELHI: Patanjali Ayurved Ltd., the herbal products manufacturer founded by yoga guru Baba Ramdev, is going digital big time. In collaboration with Google and Facebook, Patanjali is for the first time investing in advertisements tailored for online audiences, hoping to reap bigger dividends than its campaigns in the print and electronic media </span></div>
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<span style="background-color: white; font-family: "arial";">“We began in February and the response has been far more than our expectations,” said a senior official at Patanjali, requesting <span style="text-align: left;">anonymity. “Within five months, Patanjali has become the most popular FMCG brand and the fifth most sought after brand online.”</span><span style="text-align: left;"> </span></span></div>
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<span style="background-color: white; font-family: "arial";">By June, views for Patanjali on YouTube climbed to 15 crore from 30 lakh, according to the official. Searches for Patanjali products on Google have gone up 11 times in the past four years and three-fold over the past three years, the official said. </span></div>
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<span style="background-color: white; font-family: "arial";">“The response by the online audience to Patanjali proves the very strong association of the users with the brand. It goes on to show that the brand is future-ready and will go beyond the three Ms: metros, millennial and males,” said <span style="text-align: left;">Vikas Agnihotri, industry director at Google India.</span><span style="text-align: left;"> </span></span></div>
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<span style="background-color: white; font-family: "arial";">The other online platform where Patanjali fared well is Facebook. Much to its own surprise, Patanjali claims to have connected well with the youth online. “More than 80% of the favourable response we have received is from the youth in Karnataka, Orissa and Punjab,” said Santosh Kumar, CEO of MangoData, the company’s digital agency. </span></div>
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<span style="background-color: white; font-family: "arial";"><span style="text-align: start;">Reducing the usual 30-second ad duration to six seconds for the Facebook audience and holding live interaction with audiences during product promotions have earned Patanjali a positive buying response, according to Kumar. The Patanjali Ayurved channel on YouTube, which started in July 2014, has more than 96,000 subscribers, while its page on Facebook has 386,709 followers. </span></span></div>
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<span style="background-color: white; font-family: "arial";"><span style="text-align: start;">“Within five months of its debut, Patanjali has seen a significant ramp-up in its online presence,” said Sandeep Bhushan, director for consumer and media at Facebook India. “Unlike other online platforms, Facebook consumers get to make the choice of how deep they want to go into the content. Patanjali has a range of products across generations.” </span></span></div>
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<span style="text-align: start;">Google and Facebook have chalked out a plan to take the company to untapped customers. Starting with the southern states, Patanjali has created an advertising narrative in local languages for Andhra Pradesh, Kerala, Tamil Nadu, Karnataka and Telangana. “By identifying the right demographic and location for any brand, Facebook is able to target specifically on the right audience,” said Bhushan. </span></div>
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<span style="text-align: start;">Patanjali is also campaigning online for a boycott of foreign products, in sync with the “Go Swadeshi” movement initiated by founder Baba Ramdev, who doubles up as its brand ambassador. </span></div>
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<span style="text-align: start;">In the run-up to Independence Day, Ramdev, who has more than 8.6 million followers on Facebook, will reach out to Patanjali’s online audience and ask them to shun the offerings of foreign companies and encourage the use of swadeshi products. Special digital content and advertisements are being created for social platforms to encourage people to “pledge” the boycott of products of foreign companies. </span></div>
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<span style="text-align: start;">Starting with online-friendly advertisements for Saundarya cosmetics and Shishu Care lotions and oils for children in February, Patanjali has widened its digital campaign portfolio to 10 products.</span><span style="font-size: 12px; text-align: start;"> </span></div>
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<span style="text-align: start;">“Patanjali offers a massive product range and a seamless experience is created for the right audience by choosing the right product and creating the right message for it,” said Agnihotri of Google. </span></div>
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<span style="text-align: start;">The company clocked a turnover of Rs 10,561crore in financial year 2016-17 and plans to double that figure in this financial year to Rs 21,000 crore on the back of growing sales, customer loyalty and new manufacturing plants. </span><br />
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<span style="text-align: start;">Source By Economic Times</span></div>
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Baba Ramdev's Patanjali teams up with Facebook, Google for online advertisement push .

By Raghav Ohri NEW DELHI: Patanjali Ayurved Ltd., the herbal products manufacturer founded by yoga guru Baba Ramdev, is going dig...

January 24, 2018

Cashless Economy Still a Fantasy for Indians Snubbed by Banks

<img alt="" class="lazy" data-image-format="pjpeg" data-image-key="bloombergquint/2016-12/92bbcffc-c5ad-4a6b-863e-eedc16c17c0c/307280235_1-9.jpg" data-image-retina-factor="1" data-image-variant="imageStoryElement" src="http://assets.bwbx.io/images/users/iqjWHBFdfxIU/iWR2ApEz_O60/v0/1200x-1.jpg" style="display: inline-block;" /><span style="background-color: #cccccc;">Paytm digital payment method sign at a spice stall in Delhi.Photographer: Anindito Mukherjee/Bloomberg</span>

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“There is no reason we cannot move towards a cashless India,” Modi said Nov. 27, reinforcing Finance Minister Arun Jaitley’s earlier assertion that the cash ban “will take India towards a cashless economy."</div>
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But on the streets in New Delhi, it’s not quite turning out that way. </div>
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Deepak Kumar, a 22-year-old security guard who earns 7,500 rupees a month, tried to open an account with a New Delhi branch of the State Bank of India after receiving his salary in old notes. The bank refused, telling him to return in January, he said.</div>
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“They said we’re only looking after our customers, we don’t have time to add new customers,” Kumar said, adding he wouldn’t try to open an bank account again. “This cashless thing is good for big people, but for small people like us, it doesn’t mean anything."</div>
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Such anecdotes are fueling doubts the demonetization move will lead to a substantial shift to online or mobile payments, particularly among the vast population of poor Indians who lack the necessary bank accounts.</div>
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India’s Cash Chaos by the Numbers: Guide to Banknote Revamp</div>
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Cash dependent</div>
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Problem is, while e-commerce is booming, India remains one of the most cash-dependent countries in the world.</div>
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Just over half of the nation’s adults have bank accounts, a precursor to using digital payments. Roughly 98 percent of all transactions are in cash, with 11 percent of consumers using a debit card in 2015, while most retailers don’t accept cards. </div>
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In the days after Modi’s Nov. 8 announcement, digital payment companies such as Paytm Mobile Solutions Pvt. Ltd. lauded the move in newspaper ads and said digital payments usage was up. But most new customers will likely be wealthier urbanites, said Saksham Khosla, a research analyst at the Carnegie Endowment for International Peace India.</div>
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“I’m very doubtful that this will lead to any meaningful financial inclusion," Khosla said. "It does seem a little tacked on. They’re trying to find more and more uses for demonetization than may have originally been intended." </div>
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Flip-Flops: U-Turns Blight Modi’s Cash Ban, Leaving Indians Outraged</div>
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Part of the problem is the poor penetration of banks in India’s villages -- there are only 18 ATMs per 100,000 citizens in India, according to the World Bank, compared to 129 in Brazil. Additionally, just 22 percent of Indians use the Internet “at least occasionally” and only 17 percent have a smartphone, according to a Pew Research Center report.</div>

Cashless Economy Still a Fantasy for Indians Snubbed by Banks

Paytm digital payment method sign at a spice stall in Delhi.Photographer: Anindito Mukherjee/Bloomberg “There is no reason we cannot mo...

December 09, 2016

Indian economy racing before Modi removed oxygen of cash

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By Rajesh Kumar Singh | NEW DELHI</div>
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India posted on Wednesday the world's fastest growth rate for a large economy in the September quarter, yet that offered cold comfort after misery inflicted by the government's unexpected move to remove high denomination banknotes from circulation.</div>
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Gross domestic product (GDP) INGDPQ=ECI clocked an annual 7.3 percent growth between July and September, faster than 7.1 percent in the previous quarter and higher than China's 6.7 percent.</div>
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That impressive headline figure, however, failed to mask the underlying weakness in Asia's third-largest economy.</div>
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Not only was the overall growth lower than expected, it was primarily driven by consumer and government spending. Contraction in capital investment deepened.</div>
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With Prime Minister Narendra Modi's decision this month to scrap 500 rupee and 1,000 rupee banknotes as part of a crackdown on tax dodgers and counterfeiters denting consumer spending, which makes up 55 percent of India's economy, the outlook for upcoming quarters is not encouraging.</div>
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In a country where most people are paid in cash, and buy what they need with cash, Modi's decision has removed 86 percent of the currency in circulation virtually overnight. His shock therapy has left companies, farmers and households suffering.</div>
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"Post-demonetization the situation is really grim whether you look at any sector or talk to people," said Devendra Kumar Pant, chief economist at India Ratings & Research.</div>
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KNOCK-ON EFFECTS</div>
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Economists agree the economy will take a hit this quarter and for several quarters to follow. But opinions on the scale of damage vary widely.</div>
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Finance Minister Arun Jaitley expects a minor impact lasting for a quarter or two. Private economists, however, reckon the impact would be felt through 2018.</div>
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The most optimistic forecasts suggest that India will finish this fiscal year in March with a respectable, but slightly lower, growth rate of 7.3 percent.</div>
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But the most pessimistic forecast, from Mumbai-based brokerage Ambit Capital, is for a precipitous drop to 3.5 percent growth.</div>
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Modi has sold the move as an attack on the illicit "black economy", it is also aimed at shrinking the cash economy which has lasted so long because few Indians have bank cards and infrastructure for online transactions is poor.</div>
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According to Credit Suisse more than 90 percent of consumer purchases are made in cash, while another study shows 85 percent of workers are paid in cash.</div>
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The crackdown will also have a spillover effect for India's formal economy.</div>
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Take India's construction sector, for example. It relies on so called "black money" for funding, but it accounts for about eight percent of GDP, employs about 40 million people and has a direct bearing on steel, cement and manufacturing companies.</div>
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"In terms of the policy implications, today's release is unlikely to have much of an impact," said Shilan Shah, India Economist with Capital Economics. "Attention has already turned to the impact of the government's demonetization measures."</div>
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STRANDED TRUCKS</div>
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Supply chains at small, medium and even larger companies are already crumbling. Trucks are stranded with no money for fuel, workers won't load goods for free, and distributors can't pay up. Wholesale markets in many cities are shut.</div>
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In the wheat-growing states, farmers have told Reuters they have run out of cash, and as a consequence sales of seeds and fertilizer have plunged halfway through the sowing season.</div>
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At least the potential for lower inflation holds out some hope that the Reserve Bank of India will extend its easing cycle with a quick interest rate cut - possibly as early as next month.</div>
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"We think that it will attempt to cushion the blow from demonetization," said Shah, who expects a 25 basis rate cut at the central bank's policy review meeting on Dec. 6-7.</div>
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(This story was refiled to remove extraneous word in fourth paragraph)</div>
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(Editing by Simon Cameron-Moore)</div>

Indian economy racing before Modi removed oxygen of cash

By Rajesh Kumar Singh | NEW DELHI India posted on Wednesday the world's fastest growth rate for a large economy in the September ...

December 09, 2016

Woman beating: SC slams Punjab govt

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<span class="newsTxt" style="line-height: 18px;"><span style="font-size: small;">The apex court directed the Parkash Singh Badal government to provide security to the woman, though not by state police, but other agencies.

Rejecting the District Magistrate's report which said such incidents are not rare in the state, the Supreme Court said the document was 'misleading and factually incorrect'.

"The report is misleading and factually incorrect. We will put it in a dustbin. We can't just accept that such incidents 'happen' ... we are really bothered about what happens daily on the streets - helpless women being beaten up mercilessly," said the apex court.

Empathizing with the woman, the SC said: "We can't restore her dignity; all we can do is to put balm on her feelings."

Criticizing the role of police and police recruitment procedure, the court said: "No police recruitment takes place without money."

The apex court also hinted that it might impose a huge fine on the Punjab Police for the incident.

In March, four policemen were suspended in Punjab after they were caught on camera hitting a woman who purportedly tried to complain about being harassed by a truck driver.

The 23-year-old woman said she had been harassed by the truck driver while returning from a wedding party.

The family of the victim reported the incident to the constables who they spotted on the road at Tarn Taran near Amritsar.

But after taking a bribe from the driver the constables started beating her, she alleged and the video of the incident was shot on a cellphone by a witness.

A senior police officer later tried to defend the cops involved saying the constables were only trying to prevent a fight.

Some other police officers said an altercation began between the family and the cops when constables tried to arrest the victim's father, who was allegedly drunk and was misbehaving.</span></span></h3>
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Woman beating: SC slams Punjab govt

The apex court directed the Parkash Singh Badal government to provide security to the woman, though not by state police, but other agencies...

September 07, 2013