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Here are four lending platforms that are helping unbanked SMEs

Saturday, November 4 2017

Here are four lending platforms that are helping unbanked SMEs

Here are four lending platforms that are helping unbanked SMEs Here are four lending platforms that are helping unbanked SMEs Source : 13:03 hrs [India], November 4 (ANI): Despite being a major part of the Indian economy, Small and medium-sized enterprises (SMEs) in India face multiple challenges. From inadequate banking to lack of constant cash supply, these SMEs are deprived of the smooth and consistent growth factors. The Government, however, is indeed working towards protection of business interest of SMEs and the industry in general. The private sector too is stepping forward to fill in the major gap. A lot of Indian digital startups have identified the same and have established online lending platforms that specifically cater to the needs of SMEs. These four SME lending platforms are bridging the requirements digitally: Lendingkart A non-deposit taking Non Banking Financial Company (NBFC), Lendingkart is responsible for providing SME lending in India. The company aims to transform small business lending by making it convenient for SMEs to access credit easily. It uses technology and analytics tools to analyse thousands of data points from various data sources to assess the creditworthiness of small businesses rapidly and accurately. CoinTribe Another online loan disbursement platform, CoinTribe provides quick and easy collateral-free loans to small businesses and individuals. It is the only online lending platform which has back-tested its credit model with large banks. The company exercises an entirely digital loan assessment and 'decision'ing process, requires minimal paperwork as well as documentation, and involves no application cost for loan delivery through its platform. CoinTribe has multiple first-of-its-kind innovations to its credit. It has for long been leveraging e-Aadhaar, e-signature, and digitization of scanned bank statements and construction of month on month P&L from banks statements to provide a seamless consumer experience. Faircent Largest peer to peer lending website, Faircent caters to retail and business loans. It is an online platform where, people who have spare money lend it directly to people who want to borrow, thereby eliminating intermediaries and the margins they used to make. Recently, Faircent.com, under the trusteeship of IDBI, created an Escrow account for its lenders to help in faster and smoother flow of funds enabling them to make greater returns on their investments. TAB Capital The USP of TAB Capital lies in not following the conventional route and making funding quicker and hassle-free. The platform has commissioned an advanced proprietary algorithm that leverages big data and analytics to simplify and accelerate loan application, verification, approval and disbursement. As a consequence, TAB Capital promises a turnaround time of only two business days for collateral free business loans; an exemplary feat in the SME lending space. (ANI) SEARCH

PV Sindhu lashes out at IndiGo staff for 'rude' behaviour

Saturday, November 4 2017

PV Sindhu lashes out at IndiGo staff for 'rude' behaviour

PV Sindhu lashes out at IndiGo staff for 'rude' behaviour PV Sindhu lashes out at IndiGo staff for 'rude' behaviour Source : Last Updated: Sat, Nov 04, 2017 17:07 hrs Rio Olympics silver-medallist PV Sindhu on Saturday lashed out at the IndiGo Airlines for the treatment that was given to her on her way to Mumbai today morning. Taking to her official Twitter account, Sindhu complained against Ajeetesh, one of the airlines' ground staff, for behaving 'very badly' and 'rudel'` with her. "Sorry to say ..I had a very bad experience when I was flying by 6E 608 flight to Bombay on 4th November the ground staff by name Mr ajeetesh," Sindhu tweeted. The more shocking thing was that when the air hostess Ashima asked the ground staff to behave nicely with the passenger, Ajeetesh turned back and behaved rudely with her as well. "Ground staff (skipper) Mr Ajeetesh behaved very badly and rudely with me. When the air hostess Ms Ashima tried to advise him to behave properly with the passenger (me) but to my surprise he behaved rudely with her," the 22-year-old added. "If this type of people work for a reputed airline like Indigo, they will spoil their reputation," she added The Indian badminton star further urged the airline to speak to the air hostess and get the details about the incident. "Please speak to Ms Ashima, she will explain you in detail," Sindhu said. In response, IndiGo wrote in a series of tweets, "Hi! We'd like to speak with you. Kindly confirm if we may contact you on your registered number with us and share a convenient time to speak via DM, so we may contact you." IndiGo dismisses Sindhu's claims Meanwhile, IndiGo Airlines has dismissed Sindhu's alleged claims of misbehaviour with her while she was on board on one of their aircrafts. Rejecting Sindhu's claims, Indigo replied that the ground operations remained calm with her throughout and were carrying out duty in the best interest of a safe and reliable operation. Explaining the incident, Indigo said, "Sindhu was carrying oversized baggage, which was not fitting into the overhead bin and was informed that it will be moved to cargo hold of the aircraft." The airlines said that this was the policy it follows for all as carrying oversized baggage creates inconveniences to other customers and can also be a safety hazard. "During the entire conversation, the member of the IndiGo ground operations remained calm," the airlines replied, adding, "After several requests to her manager, they finally consented to the removal of the bag from the cabin. We then placed the over-sized baggage in the cargo hold and was handed over to Ms Sindhu on arrival." Indigo added that though it is extremely proud of Sindhu's sporting achievements, but safety operations are paramount to them. Earlier, legendary cricketer Sachin Tendulkar and Indian off-spinner Harbhajan Singh had criticised British Airways and Jet Airways respectively after having their own share of issues. Sindhu, who is set to take part in seven-day Senior National Badminton Championship, which begins on Thursday, recently reached the World Championships final in Glasgow to claim the silver besides also winning the Syed Modi Grand Prix Gold, India Open Super Series and Korea Open Super Series this year. Stay updated on the go with Sify Live Scores App. Click here to download it for your device SEARCH

Design of recapitalisation process critical: Former RBI Governor

Saturday, November 4 2017

Design of recapitalisation process critical: Former RBI Governor

Design of recapitalisation process critical: Former RBI Governor Design of recapitalisation process critical: Former RBI Governor Source : 15:47 hrs [India], Nov. 4 (ANI): In the wake of the Rs 2.11 lakh crore-worth public sector bank recapitalisation plan that was announced recently by Union Finance Minister Arun Jaitley, former Reserve Bank of India (RBI) Governor Dr. Y.V. Reddy dubbed the design of the plan to be "critical". Delivering the 20th JRD Tata Memorial Lecture under the aegis of the ASSOCHAM here, the former RBI Governor stated that the recapitalisation proposal put forth by the government is for regulatory purpose, adding that the government is exploring more options to produce capital. "The bond has to be carefully designed whether it should have SLR status, what would be holding period or maturity status. All these things have to be carefully designed, as they will have an impact on the bond market. The government has to be careful about the spillover effect as the amount is large," he said. On the NPAs front, Reddy opined that dragging corporate defaulters to the National Company Law Tribunal (NCLT) may not be the best option to resolve the issue of NPAs. In the last week of October, Jaitley had announced an unprecedented PSU banks recapitalisation program of Rs 2.11 lakh crore, out of which Rs. 1.35 lakh crore will come from recap bonds, and rest from markets and budgetary support. "To improve the lending capacity of the banks, we have announced the recapitalisation programme, which is essential to increase public spending on infrastructure, and that expenditure on infrastructure," Jaitley said at a press conference here. Adding to this, he said there is a need to increase public investment, for which, bold steps will be taken by the government to recapitalise banks in the country. (ANI) SEARCH

Nirav Modi launches second boutique store in Delhi-NCR

Saturday, November 4 2017

Nirav Modi launches second boutique store in Delhi-NCR

Nirav Modi launches second boutique store in Delhi-NCR Nirav Modi launches second boutique store in Delhi-NCR Source : 15:48 hrs [India], November 4 (ANI): Luxury diamond jewelry brand, Nirav Modi announced the launch of its second boutique in one of the plushest areas in Delhi-NCR, DLF Emporio's Chanakya. The new outlet will showcase a full selection of exquisite Nirav Modi designs, including a wide range of jewels from their iconic Jasmine Collection, Embrace Bangles, and high jewels which were recently launched at the La Biennale, Paris, and the new bridal Sakura collection. Designed by Atelier Marika Chaumet, the highly-acclaimed French luxury interior design specialist, the 1600+ sq. ft. boutique is nestled in the city's most coveted retail space, offering its patrons a world-class shopping and gourmet experience, amongst the best luxury brands. "Delhi is home to high-end luxury labels catering to the city's elite shoppers who are seeking opulent experiences. It remains a meaningful city to me, as the very first Nirav Modi boutique was opened here. Expanding our retail presence in Delhi gives us an opportunity to extend our collection to the discerning shopper who explores luxury with cultivated sophistication," said founder and creative director, Nirav Modi. "Since Delhi is also the hub of the Indian wedding market, we are happy to open our second store in the city that showcases potential and eagerness to experiment and innovate with luxury," he added. With the launch of this new boutique, Nirav Modi now houses three exquisite boutiques across India: two in New Delhi and one in Mumbai, with an upcoming project in Begaluru. The brand entered the city with its first flagship boutique at Defence Colony in 2014. The Chanakya boutique is the latest entrant in the brand's pan-India and international retail expansion in New York, Las Vegas, Honolulu, London, Macau, Hong Kong, Singapore and Beijing. (ANI) SEARCH

Soccer-Indian federation 'reminded' by FIFA over outside interference

Saturday, November 4 2017

Soccer-Indian federation 'reminded' by FIFA over outside interference

Soccer-Indian federation 'reminded' by FIFA over outside interference Soccer-Indian federation 'reminded' by FIFA over outside interference Source : 15:20 hrs ZURICH, Nov 4 (Reuters) - India's football federation (AIFF) has been reminded by FIFA that it cannot be influenced by legal or political inference from inside the country, the global soccer body said. The warning came after a Delhi High Court ruling on Tuesday annulled the AIFF's most recent presidential election and ordered a re-run to be organised by the country's former election commission chief S.Y. Quraishi. FIFA statutes state that member federations must be free from legal and political interference in their respective countries and the world governing body has suspended other national associations in the past in similar cases. "FIFA has sent a letter to the AIFF requesting more information about Delhi's High Court decision as well as the steps that AIFF intends to undertake in this matter," FIFA told Reuters in an emailed statement. "FIFA has also reminded the AIFF that... member associations, including the AIFF, are obliged to manage their affairs independently and without undue influence from third parties." The High Court ruling came less than a week after India completed its hosting of the under-17 World Cup and was praised by FIFA president Gianni Infantino, who said he wants to make football the most popular sport in the cricket-mad nation. The AIFF election, held last December, saw Praful Patel re-elected as president. The High Court has ordered a fresh election within five months which it said must be held under rules stipulated by the national sports code. The AIFF has said it was fully complaint with both Ministry of Youth Affairs and Sports directives, as well as FIFA statutes. (Writing by Brian Homewood in Berne; editing by Sudipto Ganguly) SEARCH talking point on sify news Latest Features

Did Sundar Pichai relish 'Android burger' at Google office?

Saturday, November 4 2017

Did Sundar Pichai relish 'Android burger' at Google office?

Did Sundar Pichai relish 'Android burger' at Google office? Did Sundar Pichai relish 'Android burger' at Google office? Source : Last Updated: Sat, Nov 04, 2017 16:38 hrs San Francisco : After an intense debate on the social media over the placement of cheese in Android's and Apple's burger emojis -- which was joined by India-born Google CEO Sundar Pichai -- the tech giant has finally served "Android burgers' to its employees. At its Seattle office, the workers were served "Android burgers" during Friday's lunch, ending the debate that Android burger emoji is the winner when it comes to placing the cheese. "The key difference between this burger and any other is that the slice of cheese is placed beneath the patty and atop the lower bun. It looks exactly like Android's burger emoji, which sparked heated controversy earlier this week over the correct ingredient order of America's beloved staple," The Verge reported on Saturday. The whole thing started when Thomas Baekdal, a writer and media analyst, tweeted early this week on the placement of cheese in Android and Apple burger emojis. "I think we need to have a discussion about how Google's burger emoji is placing the cheese underneath the burger, while Apple puts it on top," Baekdal tweeted. Reacting to this, Pichai tweeted, promising to "drop everything" and address the issue if people on the platform agree on what the correct placement of ingredient should be. With serving "Android burgers," it appears the kitchen department at Google has heard Pichai loud and clear. The hamburger emoji, also known as the cheeseburger, was approved as part of Unicode 6.0 in 2010 and added to Emoji 1.0 in 2015, according to Emojipedia -- an emoji reference website. SEARCH

U.S. judge deals setback to Waymo damage claim in Uber lawsuit

Saturday, November 4 2017

U.S. judge deals setback to Waymo damage claim in Uber lawsuit

U.S. judge deals setback to Waymo damage claim in Uber lawsuit U.S. judge deals setback to Waymo damage claim in Uber lawsuit Source : Peter Henderson Last Updated: Sat, Nov 04, 2017 13:47 hrs SAN FRANCISCO: A federal judge in San Francisco made it more difficult for Alphabet Inc’s Waymo unit to prove it suffered financially from the alleged theft of autonomous car trade secrets by Uber Technologies Inc , ruling to exclude testimony from Waymo’s damages expert. Waymo has estimated damages in the case at about $1.9 billion, according to court filings. Uber has denied using any of Waymo’s trade secrets and rejects the financial damages claim.Uber and Waymo, rivals in the development of autonomous car technology, have been fighting in court since earlier this year about whether Uber benefited from trade secrets and other intellectual property allegedly stolen by former Waymo engineer Anthony Levandowski. Trial is set for early December. U.S. District Court Judge William Alsup late on Thursday issued an order excluding Waymo’s damages expert, Michael Wagner, from the case and restricting use of financial evidence at trial and denying other relief, according to a docket entry. The docket summarizes the decision, but the details are under seal until later on Friday.University of Florida law professor Elizabeth Rowe said it was a setback for Waymo to have its damages expert excluded, but noted there were still ways to include the information, were the scope of the exclusion limited to the one person.In a statement, Waymo said the company could still pursue full damages using “the same documents” relied upon by their expert. Uber described the ruling on the expert as a sign of success, together with Alsup’s exclusion of Otto Trucking as a defendant in the case. Levandowski is the primary shareholder of Otto Trucking.“Waymo’s case continues to shrink,” the ride-services company said in a statement.Alsup recently agreed to Waymo’s request to delay a trial to decide the dispute from October to early December, citing the need to investigate evidence Uber had not disclosed earlier.Waymo sued Uber in February, claiming that Levandowski - the former head of Uber’s self-driving effort who was previously at Waymo - downloaded more than 14,000 confidential files before leaving Waymo to set up a self-driving truck startup company that Uber then acquired.Waymo in settlement talks had sought at least $1 billion from Uber, which rejected that and other terms as non-starters, sources previously told Reuters. Waymo main priority is to win a permanent injunction against Uber using any Waymo intellectual property, another source familiar with the company’s thinking said. SEARCH

PV Sindhu Slams IndiGo Staff After ‘Bad Experience’, Airline Refutes Claim

Saturday, November 4 2017

PV Sindhu Slams IndiGo Staff After ‘Bad Experience’, Airline Refutes Claim

4 PV Sindhu Slams IndiGo Staff After ‘Bad Experience’, Airline Refutes Claim Indian badminton star PV Sindhu took to Twitter on Saturday to speak about a “bad experience” when she was flying by IndiGo 6E 608 flight to Mumbai. The 22-year-old, in a series of tweets, named and shamed the airline ground staff, saying that the IndiGo employee had behaved “badly and rudely” with her. When he was approached by an air hostess and told to behave properly, he was rude with her as well, Sindhu wrote in a direct message to IndiGo. Twitterati came in their numbers and while some slammed the airline staff, others pleaded with Sindhu to not name the employee. However, IndiGo, according to news agency IANS, refuted the Olympic silver medallist’s claim in a statement. “Ms P.V. Sindhu boarded flight 6E608 Hyderabad-Mumbai carrying oversized baggage which was not fitting into the overhead bin. Ms Sindhu was informed that it will be moved to cargo hold of the aircraft. This is the same policy we follow for all customers. Oversized baggage inside the cabin inconveniences other customers and can also be a safety hazard if it cannot be secured properly in the cabin.” “During the entire conversation, the member of the IndiGo ground operations remained calm. After several requests to her manager, they finally consented to the removal of the bag from the cabin. We then placed the over-sized baggage in the cargo hold and was handed over to Ms Sindhu on arrival. We are extremely proud of Ms Sindhu’s sporting achievements and are grateful for the laurels she has won for our country. However, safety of our operations is paramount to IndiGo,” the statement added. Sindhu first posted, saying she had a bad experience and named the employee. Sorry to say ..i had a very bad experience when i was flying by 6E 608 flight to bombay on 4th nov the ground staff by name Mr ajeetesh(1/3) Before part two and three of her tweets could come, Twitter was flooded with pleas of users asking Sindhu not to name the airplane staff and to forgive him. Don’t do this sindhu ur gonna destroy one man career probably a family,choose to forgive..

Offline version for GSTR-4 preparation launched on GST portal

Saturday, November 4 2017

Offline version for GSTR-4 preparation launched on GST portal

Offline version for GSTR-4 preparation launched on GST portal Offline version for GSTR-4 preparation launched on GST portal Source : 15:05 hrs Flagging off preparation for the filing of GSTR-4, the quarterly return for taxpayers who have opted for Composition Levy, the Goods and Services Tax Network (GSTN) introduced an offline tool on the GST Portal for the same. "GSTR-4 return can be prepared only using the Offline Tool. This has been done to facilitate small businesses who can prepare the same on their own computers as per their convenience. Since they will be working offline, they do not need to be connected to Internet," said Prakash Kumar, CEO, GSTN. The offline tool will also allow the taxpayers check final payable amount and save the return for future use. Once they are fully satisfied, they can press a button to create the return file which they will need to upload on the portal. Only for uploading the file, they will need to connect to internet. The Offline tool is available on GST portal and can be downloaded by taxpayers and tax consultants. For the unversed, the composition levy is an alternative method of levy of tax designed for small taxpayers whose turnover is up to Rs. 1 crore (Rs 75 lakh in case of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura and Himachal Pradesh). The objective of composition scheme is to bring simplicity and to reduce the compliance cost for the small taxpayers. Moreover, it is optional and the eligible person opting to pay tax under this scheme can pay tax at a prescribed percentage of his turnover every quarter, instead of paying tax at normal rate. Such taxpayers have to file returns once a quarter. The businesses dealing only in goods can opt for composition scheme. Service providers have been kept outside the scope of this scheme, except those providing restaurant services.

Afghanistan moves to block WhatsApp, Telegram messaging services

Saturday, November 4 2017

Afghanistan moves to block WhatsApp, Telegram messaging services

Afghanistan moves to block WhatsApp, Telegram messaging services Afghanistan moves to block WhatsApp, Telegram messaging services Source : Last Updated: Sat, Nov 04, 2017 14:58 hrs KABUL: Afghanistan's telecoms regulator wrote to internet service providers this week ordering them to block the messaging services WhatsApp and Telegram but it was not immediately clear whether they had complied. Use of social media and mobile instant messaging services has exploded in Afghanistan over recent years. Social media users and civil rights groups reacted with outrage to initial reports of the move and the letter sent by telecoms regulator ATRA was widely shared on social media. Some media reports, citing unidentified sources, said the move had been ordered by the National Directorate for Security to thwart the use of the encrypted messaging services by the Taliban and other insurgent groups. It was not immediately possible to confirm the reports. The acting minister for telecommunications, Shahzad Aryobee, posted a message on Facebook saying that the telecoms regulator had been ordered to put a gradual block on the services to improve their functioning after complaints had been received. "The government is committed to freedom of speech and knows that it is a basic civil right for our people," he wrote. The letter by telecoms regulator ATRA, dated Nov. 1 and signed by an official of the regulator, directed internet companies to block Telegram and Facebook Inc's WhatsApp services "without delay" for a period of 20 days. However, the service worked normally this week and still appeared to be working normally on Saturday on both state-owned operator Salaam and private service providers. On Friday, there were reports of interruptions but it was not clear whether they were caused by a deliberate shutdown or by the unrelated issues with WhatsApp services that were experienced in several countries. Mobile phone services have been one of the big success stories in Afghanistan since the Taliban were ousted from power by a U.S.-led campaign in 2001, but there are also frequent complaints from users about quality and coverage. WhatsApp and similar services, including Facebook Messenger and Viber, are widely used by Afghan politicians and members of the government as well as by the Taliban, which has a sophisticated social media operation of its own. The movement's main spokesman, Zabihullah Mujahid, wrote to reporters this week giving his Viber number "in case WhatsApp is not working". SEARCH

Saudi's Falih calls for more work to cut global oil inventory

Saturday, November 4 2017

Saudi's Falih calls for more work to cut global oil inventory

Saudi's Falih calls for more work to cut global oil inventory Saudi's Falih calls for more work to cut global oil inventory Source : 14:42 hrs TASHKENT (Reuters) - Saudi Arabian oil minister Khalid al-Falih said on Saturday that more work was needed to reduce global oil inventories. "There is a general satisfaction with the strategy of 24 countries that signed a declaration of cooperation", he said after a meeting attended by his Russian, Uzbek and Kazakh counterparts. Russia and Saudi Arabia are leading a deal between OPEC and non-OPEC producers to cut global oil production, with the aim of propping up oil prices. "Everybody recognises that (the) job is not done yet by any means, we still have significant amount of work to do to bring inventories down. Mission is not yet complete, more needs to be done," he added. He said members of the global pact he had spoken with have expressed the same views. "This is the same sentiment I've heard yesterday from (Kazakh) President (Nursultan) Nazarbayev, this is the same sentiment I've heard from all the oil producing members of the Asia energy ministers' round table", he said. Officials from Malaysia, Ecuador, Nigeria and Libya have had also given him similar feedback, Falih said. "All committed to working with other producers and supporting the agreement", the Saudi oil minister added. (Reporting by Mukhammadsharif Mamatkulov; writing by Denis Pinchuk; editing by Alexander Smith) SEARCH

Mary Kom Assured Of A Medal After Progressing To Asian Boxing Championship Semis

Saturday, November 4 2017

Mary Kom Assured Of A Medal After Progressing To Asian Boxing Championship Semis

Mary Kom Assured Of A Medal After Progressing To Asian Boxing Championship Semis Mary Kom in action © AFP MC Mary Kom stormed into the semi-finals of the Asian women’s Boxing Championships on Saturday. With this win, she is now assured of her sixth medal of the continental showpiece event. Mary Kom defeated Chinese Taipei’s Meng-Chieh Pin in a split verdict in the quarterfinals to make the last four stage of the light flyweight (48kg) category. The 34-year-old, who has won four gold, a silver in her five previous appearances at the event, will face Japan’s Tsubasa Komura in the semifinals. In a rather cautiously-fought bout, neither the Indian, nor her opponent was willing to launch too many attacks. The punches were few and far between at least in the opening three minutes. However, the two boxers upped the intensity in the second round. The Taipei boxer, also the taller of the two pugilists, was the first to move away from the waiting game and began using her left straights and right hooks rather effectively. However, Mary Kom too raised her game against the nimble-footed Pin, who displayed impressive defensive tactics. The Manipuri went all out in the last round and more than made up for a patchy display in the opening round to get the judges’ nod. With inputs from PTI.