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Verizon And Teradata Have These Expectations From The New Budget

The new Budget is out and this is what Verizon Enterprise Solutions and Teradata India expect for it.

Verizon And Teradata Have These Expectations From The New Budget

Verizon Enterprise Solutions

“The Indian Government has made great efforts to promote the development and growth of the IT and telecommunication segment of India, intensifying the digital as well as economic transformation in the nation. As the industry struggles with rivalry posed by digital disturbance, we expect that the Union Budget 2018–2019 will consider the main problems such as changes in the telecom regulatory structure through industry discussion as fraction of latest National Telecom Policy 2018 to market lawful predictability, certainty, and worldwide consistency that will additionally promote investments and innovation in the IT and telecom segment. The solution to success of the initiative for Digital India also lies in carrying out the required changes to the tax frameworks comprising GST that have played an essential role in growing the economic prowess of the country,” claimed Priya Mahajan, head at Verizon Enterprise Solutions for ASPAC Public Policy and Regulatory Counsel, to the media in an interview.

Teradata India

“Budget 2018 presumes implication as it comes after 2 historical changes made by the management, the implementation of GST and demonization. It is huge to lastly witness digitization presume its equitable significance and all-pervasive significance for more effectual domination in our healthy nation. The government is already concentrating on the rise of troublesome techs such as advanced analytics, automation, internet of things, blockchain, machine learning, and artificial intelligence, and we expect that it makes easy the acceptance of some of these techs both, for itself to enhance citizen services and governance as well as by enterprise and industry to accelerate the growth of new services and products. We are also seeking forward to new actions by the administration that will power the development of R&D and innovation in India and additionally improve the ease of doing business,” claimed Souma Das, MD at Teradata India, to the media.

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Market To Witness The Effect Of Inflation Data And Also To The Results Of ITC, Wipro And HDFC Bank

With the inflation of IIP and retail announced after the working hours on Friday, the analysts are expecting to see some changes during the forthcoming week.

With the high quarterly earnings from the ITC, WIPRO, and bluechip stock like HDFC Bank, the market will keep up the positive pace this week contributing to the buoyancy and liquidity of the global market. However, Vinod Nair, Head of Research, Geojit Financial Services, said that the market focus will be on the Q3 earnings as the cues related to the budget will be dominating the entire market trend.

Market To Witness The Effect Of Inflation Data And Also To The Results Of ITC, Wipro And HDFC Bank

The manufacturing sector is performing strongly which has led to a high growth in industrial production. It has touched 8.4% in November. However, the bad news is that the retail inflation reached to a 17-month high of 5.2% in December which suppressed the excitement immensely.

Anita Gandhi, Whole Time Director, Arihant Capital Markets, expressed that the hopes regarding the performance of the market are quite high with the big caps like TCS and INFOSYS performing as per the expectations. The equity market has also closed on a positive note with the indices touching an all-time high. The crude prices are also hiking. In the past week, Nifty gained 122.40 points or 1.15% and Sensex rose by 438.54 points or 1.28%.

On Monday, the numbers associated with inflation will be scrutinized minutely. Yes Bank, Hindustan Unilever, Kotak Mahindra, and ITC are expected to contribute to the enhanced market value along with the delightful performance by Infosys, which has earned 38.3% or Rs. 5,129 crore of net profit for the quarter of October-December in 2017–2018.

Analysts and people who have a keen interest in the market trends will be eyeing the budget that will impact the trend of the market in a huge way.

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FPI Investment To Reach Rs. 2 Lakh Crore In Financial Year 2018

Foreign portfolio investors or FPI are expected to end the current fiscal year with net investments of about of Rs 1.8 to 2.2 lakh crores i.e. $28 to 35 billion for FY2018 as compared to Rs 95,600 crores i.e. $ 15 billion in the first half FY18 and Rs 48,400 crores i.e. $7 billion in FY17.

FPI Investment To Reach Rs. 2 Lakh Crore In Financial Year 2018

According to Karthik Srinivasan, Senior Vice President and Group Head – Financial Sector Ratings said that the FPI investments in the present fiscal have been motivated by the debt segment, which actually received a net inflow of Rs 1.17 lakh crores during eight months of FY 2018 with positive net inflows across all months. Mr. Srinivasan further added that due to healthy inflows, the application of the FPI investment limit in G-secs and corporate debt has increased in the current fiscal regardless of an augmentation in the permissible investment limits. However, the equity segment also witnessed a net outflow of FPI investment during the August and September months amongst concerns on earnings growth, rising valuations and slowing GDP growth.

ICRA Experts forecasted that though the improvement in FPI limits has strengthened the pace of inflows into the debt market, the trend is anticipated to be reasonable in the coming months, given the high usage levels for G-sec and corporate bonds. The recent rate hike by the United States Federal Reserve Bank in December 2017, the ongoing balance sheet adornment by the US Government and the passage of the Tax Cuts and Jobs Act of 2017 have pushed up the treasury yields in the US. So, this has contributed to a point in yields for the Indian debt securities that would help to maintain their relative attractiveness for international investors as the debt segment is to register net FPI inflows of Rs. 1.5 to 1.6 lakh crores in FY18.

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4 Big Audit Firms Under Scanner as Government slip in to Swadeshi Mode

The Indian Government has silently glided in a swadeshi move though liberalizing the foreign direct investment or FDI rules by directing the overseas auditors that they will have to take on joint audit if an international investor insists on audit by any global firm or its Indian affiliate.

This will mark a main shift in India’s FDI rule, which was previously silent on this matter, and thus gave rise to a situation where the shareholders’ agreement between a foreign investor and its Indian partner was confined to a clause that specified audit by four major MNCs such as KPMG, Ernst & Young, Deloitte and PricewaterhouseCoopers or any Indian firms that are part of their network.

4 Big Audit Firms Under Scanner as Government slip in to Swadeshi Mode

This clause has now been inserted to prevent this kind of a procedure and the belief is that one global firm will not agree to a joint audit with the international rival and this will open the doors for separate Indian firms, which have been grumpy of being left out. Presently, the foreign firms control a majority of the audit work for the enlisted entities as well as for major Indian companies, which causes a lot of heartburn.

It is a fact that a group of Indian chartered accountants had petitioned with the government to insist on the joint audit for all companies and had also pitched for an amendment to the Companies Act. An expert committee headed by former finance secretary Ashok Chawla has rejected the offer as it was seen to be adding extra costs but also recommended ways to strengthen Indian firms and work towards the progress of some large Indian companies. S Santhanakrishnan, an expert on corporate governance and law said that is a indeed a very good move from a corporate governance point of view and this move will help the Indian firms

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Small Stocks Take A Leap of Faith.. Grow By 60%

Small stocks fetched massive returns of the investors and even outpacing the big companies, by earning up to 60% returns. The BSE small cap index registered a massive growth of 59.64% and jumped 7184.59 points. The midcap index grew by 48.13% and increased by 5791.06 points in 2017. As compared to this, the bluechip index comprising of 30 scripts saw an increase of 27.91% and zoomed by 7430.37 points last year.

Small Stocks Take A Leap of Faith.. Grow By 60%

Kotak Securities Head midcaps Rusmik Oza, says that as compared to the Sensex, the small cap and mid cap companies have done exceptionally well. This is primarily because of the growing domestic interest in mutual funds.

On December 29, the midcap index hit an all-time high to touch 17851.03 and on the same day, small cap index witnessed a surge, touching 19262.44, an all-time high as the year came to a close. On December 27 last year, the 30 shares index closed at a high of 34,137.97.

Geojit Financial Services Chief Market Strategist Anand James says that before 2013, the economy witnessed recession and slow down, resulting a 6% loss in the midcap index in 2013. Companies with proven track record and good governance kept in control and that’s the reason for Nifty doing better than other smaller companies. The scenario changed after 2014 with stable government at the center. The push given to infrastructure projects and subsequent reforms lessened the debt-laden areas, leaving a multiplying effect on the economy. As a result, we saw realty, housing, construction, infrastructure etc going up. Naturally, these stocks surged, particularly in the small and midcap, which were otherwise under quoted in an unstable environment, found buyers.

It is said that blue chip stocks are generally bought by overseas investors, while the local investors are interested in smaller stocks. Since globally the financial markets are on a bull run, the domestic market too responded well.

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Bitcoin Issue To Be Constituted By The Indian Finance Ministry

In order to fix the situation in the country of Bitcoin, the Finance Ministry has constituted a committee that will suggest Bitcoin’s future direction in India. In this year, there has been a huge surge in the price of Bitcoin and the Income Tax Department has done surveys in different currency exchanges of the country. According to media reports, the government has constituted a second committee on Bitcoin in view of this.

Bitcoin Issue To Be Constituted By The Indian Finance Ministry

Media Reports stated that the Deputy Governor of the Reserve Bank BP kanungo and SEBI Chairman Ajay Tyagi are included in this committee set up by the Finance Ministry. Previously, the panel made on Bitcoin had suggested to shut those exchanges that deal in Bitcoin-like crypto-currencies in the country.

The Income Tax Department had conducted surveys in the wake of the possibility of tax evasion in big Bitcoin exchanges this week. Several teams of the IT department conducted operations in nine major Bitcoin Exchanges of the country on the command of the Bengaluru Investigation Wing. These exchanges were based in Delhi, Hyderabad, Kochi, Bengaluru, and Gurugram.

The challenge before the government is to understand what safeguard solutions should be adopted to avoid potentially untreated crypto-currencies such as Bitcoin. Bitcoin is virtual money is not regulated in India right now. Its circulation in the country has become a cause of concern for bankers around the world.

Although the Reserve Bank of India has warned investors about Bitcoin in India, its price is increasing at four times the clock day and night. Bitcoin trading at $12,000 on December 6 reached the level of $14,000 in just 24 Hours. Based on this, it stated that in just one day, investors have grossed about Rs 1,29,084 from this digital currency.

At present, it is hard to predict about the future of the Bitcoin in India.

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Hot Money Worth Rs. 2 Lakh Crore Flush Keep The Markets

The year 2017 saw a massive influx of “Hot Money” or the foreign funds as foreign investors flushed the markets with over Rs. 2 lakh crore. This is more than the investments seen in the previous 2 years combined. Needless to say, Indian stock market has emerged as the most preferred destinations for the Foreign investors. The net investment in equities to date in 2017 stands at Rs. 55,000 crore as against Rs. 17,800 and Rs. 20,500 in 2015 and 2016, respectively.

Hot Money Worth Rs. 2 Lakh Crore Flush Keep The Markets

However, the trend may not continue in 2018 as the rate hikes is likely to pick up and also owing to the liquidity withdrawals. Also, the commodity price increase and the consumption demand recovery is likely to switch the inflation cycle. Experts attribute to the higher investment due to the investor perceptions of a good domestic economic growth in the country.

This further accentuates the Government’s resolute of fostering economic reforms despite the fact that demonetization and the Goods and Service Tax (GST) did slow down the growth initially. Also, the improved ranking in “ease of doing business” was viewed favorably by the corporate houses as it depicted the Government’s commitment to take development and economic reforms on a fast track growth, before it goes to polls in 2019. Plus, the winning of election by the ruling party in as many as 5 states earlier this year reinstated investor confidence.

The top sectors that saw massive fund inflow from the foreign portfolio investors include banking, finance, housing and auto. Also, the recapitalization of the PSU banks saw renewed interest of the investors.

Although the Hot Money or the foreign portfolio investment in the stocks is considered as highly uncertain, it still remains one of the primary driving factors of the Indian stock market. While the beginning of the year saw the FPIs on a selling spree, things took a turnaround after February 2017.

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Rs 167 Crore Transferred In Airtel Bank Without Permission Of 31 Lakh Consumers

Almost 31.21 Lakh users deposited so far as Rs 167 Crore in their accounts for Airtel Payments Bank that were activated without their knowledgeable consent, resulting to postponement of Aadhaar-connected KYC verification of Airtel Payments Bank and Bharti Airtel. The breakthrough that subsidy money for LPG was being transferred in these accounts has resulted in officials recommending that it might be suitable if the money were given back to the users. The money was gathered in violation of UIDAI (Unique Identification Authority of India) norms and in an improper fashion.

Rs 167 Crore Transferred In Airtel Bank Without Permission Of 31 Lakh Consumers

The misconduct was noticed post the UIDAI examined a grievance from a person who claimed that Bharti Airtel not only started an account of payments bank without his permission but also connected it to get subsidy of LPG. The money deposited from BPC (Bharat Petroleum Corporation) was Rs 39 Crore, from HPC (Hindustan Petroleum Corporation) was Rs 40 Crore, and from Indian Oil Corporation was Rs 88 Crore.

An executive claimed that the government should act to make sure that the sum of Rs 167 Crore was given back to the users in their normal bank accounts. He claimed that the government must end sending subsidy to wallets and payments banks since the UIDAI examination discovered that in various cases, subsidies of cooking gas were deposited in the customers’ account of Airtel Payments Bank without their information, while they had connected the subsidies to their bank with savings accounts.

After looking into the case, the UIDAI in its temporary order banned Airtel Payments Bank and Bharti Airtel from carrying out Aadhaar connected e-KYC confirmation of SIM cards and bank users. The UIDAI discovered that during mobile verification employing Aadhaar e-KYC, Airtel vendors were also starting accounts for Airtel Payments Bank. The starting of bank account was incorporated with the procedure of verification for mobile.

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Money

Bitcoin Touches The Mark Of $14,000, Growing At Rs 1,29, 000 In A Single Day

Although the Reserve Bank of India has warned investors about Bitcoin in India, its price is increasing at four times the clock day and night. Bitcoin trading at $12,000 on December 6 reached the level of $14,000 in just 24 Hours. Based on this, it is stated that in just one day, investors have grossed about Rs 1,29,084 from this digital currency. Since the beginning of this year, the price of Bitcoin is continuously increasing. However, on Wednesday, the Reserve Bank of India cautioned that investors would have to bear the risk for making transactions or investment in it. The central bank said that it will not be liable for any fraud linked to the Bitcoin transactions.

Bitcoin Touches The Mark Of $14,000, Growing At Rs 1,29, 000 In A Single Day

At the beginning of this year, Bitcoin that has been trading at $ 1,000 crossed the $10,000 level last week. The enthusiasm of the investors remains intact even after the warning issued by veteran economists and business leaders to Bitcoin. In the past 24 hours, it crossed the level of $12,000 and then $13,000 and touched the figure of $ 14,000.

In Hong Kong, its price reached $14,000 in early trading on November 7. This crypto has seen big fluctuations in this year. After falling to $11,000 last week, it has suddenly increased and has seen a growth of up to $3,000.

It is notable that in September, Jamie Demon, CEO of JP Morgan, America’s largest investment bank, had said that Bitcoin is a fraud currency. They had even said that this is the currency of drug dealers and fraudsters. Jamie had said, “I honestly say that no one can see this money, what it has so much valued.”

Looking at the drastic rise in the value of the Bitcoin and increased investment in the crypto currency, the chances of risk also increases simultaneously.

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Money Sci-tech

Now You Will Have To Make An Impression On A Machine To Get Hired

Picture you are seeking for a new job. You smarten up your resume, send it to the firms that you have selected, and then keenly wait for a reply. Will the employers like your resume? Will they just look through it and make a decision that you are not a correct fit for the job? Or will it make an impression on them and play in your favor?

Impression On A Machine To Get Hired

If you think you are aware of how to make an impression on a prospective boss via a resume, you require to know more. This time you may have to make an impression on a machine in its place—the latest inclusion to the firm, a bot.

The intelligent computer programs, or bots, are taking under the job of looking through resumes, carrying out the first-level of employing, making a decision as to which candidates are appropriate for the task at hand, and also carrying out the first-phase of interviews with applicants.

An unbelievable though just a couple of years back, it is an actuality now, at least in part in most of the firms in the country. Embracing the era of AI, firms have began utilizing it widely to enhance effectiveness at place of work like never before.

Firms have been utilizing bots such as Amber, JLT, and Jinie to assist with jobs such as setting reminders, scheduling dates, and managing pays cuts, time off, and so on. Bots such as Dino and Engazify also track conversations of employee to increase workplace satisfaction and make stronger team work.

Now, firms have began to utilize these bots to also carry out the primary stages of employing. “Engaging bots in functionalities of HR will completely modify the process of hiring,” claims co-Founder of HR solutions company PeopleStrong, Shelly Singh, to the media in an interview. Showing her point, many HR solutions firms such as CIEL have already began utilizing bots to make lists of candidate on the basis of requirements of users and to also contact them straightly with some basic questions for additional assessment.

Well, now you have to work hard to impress a machine though.