Indian Global Finance

More reasons to celebrate this festive season as we got RBI easing our spending and fuelling economy. Bonanza time for the industries, investors and property buyers as this time your efforts are rewarded by our central bank chief. True to the guess RBI fuelled our spending by taking lesser part of the cake retaining larger for the consumers. Monetary policy proposed for the first time by the committee was held on 04.10.2016 at 2.30pm IST. The practice of monetary policy announcement of RBI was not new, but the timing which matters. We have witnessed a beautiful transition. Oct 2016 has to be marked with bold letters in the economic history of India as our central bank moved away from a practice of formulating policy by a single person to a multi-person, multi-discipline exercise. True to its nature, monetary policy is the one which influence the spending and saving habits of individuals, keep the industries buoyant hence accelerating the economy. It is in this line of thinkin

  Baba Ramdev said there will be an establishment of 6 more manufacturing units for Patanjali Ayurveda’s food products and for ayurvedic medicines across India. As the Haridwar manufacturing unit is not sufficient to meet the demand of Patanjali products another 6 more manufacturing units will be established at Andhra Pradesh, Uttarapradesh, Maharashtra, Indore, and Jammu & Guwahati with an estimated expenses between Rs 3000-5000 crore & there is an estimation of Rs 10000 crore business within end of 2016. In next 5 years it may reach to RS 50000 crore.  It was Rs 450 crores in 2012 and now it shows an increase up to RS 5000 crore this shows how Patanjali products beating its rivalries in FMCG sector in India. The reason behind this popularity is Patanjali products are 15% to 30% less cost compare to its rivalry products. 

                                The World gold Committee has announced that this year there may be decrease in demand for gold due to increase in its price. In 2015 there was a demand of 850 tonnes of gold but this year it may reduce from 750-800 tones. So totally in the first 6 months of 2016 the demand for gold was reduced to 30% from 351 to 248 tonnes as announced by World Gold Committee.

                      In last 6 years there is an increase in appointing women as board of directors in business organisations all over the world. A recent survey shows that it has increased from 5.5% in 2010 to 11.2%in 2016 & especially in India it is nearly 14.7%. Though there is an increase of women as a member in board of directors it is not same as in administrative departments. India ranked after japan & South Korea in appointing women in top management level positions. The survey shows Norway 46.7%, France 34%, Sweden 33.6%, Italy 30.8%, and Finland 30.8% & India 11.2%.

     In the span of 4 months Rs.65, 250 crore of amount had been disclosed under Income declaration scheme (IDS). THE government received Rs.29, 362 crore in the form of tax and penalty said by union finance minister Arun Jaitley and he also said that the amount is more if they combine the amount disclosed through online & at income tax offices. September 30 th was the last day to pay tax & 45% penalty on black money and disclosure of illegal property’s owned under IDS. Tax and penalty should be pay in two installments with in 30 th September 2017. The CBDT (Central Board of Direct Taxes) chairman  Rani. S. Nair said that estimation of Rs.30, 000 crore tax collection under IDS. On Friday 30 th 2016 there was a huge rush at income tax offices all over India as it was the last date to disclose amount of black money.                                                         PM Modi appreciated union finance minister Arun jaitley and his team for the success of t

The government announced SBI Chairman Arundhati Bhattacharya’s term extended to another 1 year . As per previous decision her term will be ending on 6 th October 2016 but  now the government issued a notification extending her term &she will be continue as the chairman of SBI up to October 2017. Arundhati Bhattacharya was appointed on October 7, 2013, for 3 years. She is the first women chairman of SBI in its banking history. As per the top resources of central government the reason behind her extended term is to make easy the merging process of SBI’s 5 subsidiaries & Bharatiya Mahila Bank with SBI.  Arundhati Bhattacharya said the merging process is at final stage & she hope it will be complete within March 2017. From this merging SBI will become the world’s 45 th largest bank. SBI’s subsidiaries: State Banks of Bikaner & Jaipur (SBBI), State Bank of Travancore (SBT), State Bank of Patiala (SBP), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM).

One of the most reputed company in the information technology services cognizant technology services appointed Rajeev Mehta the CEO (for IT services in the company) as its new president. Due to resignation from Gordon Coburn, Mehta appointed as president and the company has not disclosed the reasons for Coburn resignation.

Bollywood actor Salman khan owned social service organisation ‘’being human” entered into jewellery business. You can purchase these jewellery at Amazon on-line store. Salman khan announced that the some portion of earned from this business will be used to social service activities. Salman khan requested his fans they can buy these jewels after ensuring its standard and value. Jewellery's start from Rs 5000 up to 50000.