Korea to start pilot program next year for coinless society The Korean central bank will begin a pilot program next year where convenience stores will give change in the form of prepaid cards rather than coins, as part of its plan to make the country a coinless society by 2020. South Korea will begin a pilot program in the first half of 2017 where convenience stores will give customers change in the form of prepaid cards or transportation cards. The Bank of Korea will expand to have change added to credit cards or directly to customers' bank accounts it the pilot is proven successful. The ultimate goal, albeit tentative, is to make the country a "coinless society" by 2020, when all coin-based change can be added to electronic payment systems. Convenience stores were chosen as most of them already have readers that can recognize transportation cards, allowing the bank to save on costs. The Bank of Korea also spent 3.395 trillion won ($2.9 billion) last year in destroying damaged coins and paper money.
Gujarat High Court upholds entry tax on goods purchased through e-commerce portals The Gujarat High Court has disposed of a set of petitions filed by e-commerce players Flipkart, Amazon, and Instakart challenging the entry tax imposed by the state government on the goods purchased through e-commerce portals. A division bench of Chief Justice R Subhash Reddy and Justice V M Pancholi disposed of the petitions in view of a recent Supreme Court judgement, which upheld the validity of entry tax imposed by the states. The high court, however, allowed the petitioners to approach the relevant adjudicating authorities for raising procedural matters arising from the imposition of entry tax. The Supreme Court had last month upheld the constitutional validity of the state legislations with regard to the levy of entry tax on goods coming from other states, ruling that tax legislation by the state does not require the consent of the President under Article 304 of the Constitution.
New Career Major in Global Logistics Planned by MCVTS for Piscataway Campus A new career major in global logistics and supply chain management is being planned by the Middlesex County Vocational and Technical Schools. An advisory committee of industry executives, academics and workforce development professionals has been formed to assist in the planning for the new major, which will be housed on the MCVTS Piscataway Campus. Classes are expected to begin next September, subject to state approval. Jaguar Land Rover plans 92,000 sq m logistics centre Jaguar Land Rover has applied for planning permission to build a 91,800 sq m logistics operations centre close to its Solihull factory. The building would be on former agricultural land at Damson Parkway which is next to Birmingham International Airport. The application has been submitted to Solihull Council by Gerald Eve.
How To navigate The Blogger Phenomenon To Grow Your E-Commerce Startup. The best marketing for E-Commerce startups is word of mouth, hands down. And with the blogosphere taking over the digital marketing space, you can get your product in the hands of influencers pretty easily. But how can entrepreneurs determine which bloggers and social media influencers are worth their marketing spend?
Black money war: Private colleges, unlisted cos under scanner The government is readying a crackdown on donation and capitation fee in several private schools and colleges, helping funnel thousands of crores of rupees of unaccounted cash. Many unlisted companies for turning "black" money into "white" through convertible debentures are also under the scanner. The government is readying a crackdown on rampant use unaccounted money cloaked as donations and capitation fee paid to secure seats flouting the merit list-based admission process in several private institutions. Also under the scanner are tens of unlisted companies for suspected funneling of black money into the legitimate financial system through convertible debentures. These are part of the government’s broad strategy to plug the gaps in India’s active parallel economy where deals take place in cash, hoodwinking tax and regulatory authorities.
Class 10th CBSE Board examination to be mandatory from 2018 Board exams for Class X are set to become compulsory for all CBSE students from 2018, three language formula could be extended till Class X and foreign language might be treated as fourth and "elective", according to decisions taken by the CBSE today. At the meeting of CBSE's Governing body, its members "unanimously" agreed that from the academic session 2017-18, compulsory Board exams should be introduced for all students of Class X, sources told PTI here. The decision will now have to be approved by the government before it is implemented. Currently, it is optional for CBSE students to choose either the Board exam or a school-based examination. HRD Minister Prakash Javadekar has in the past favoured making Board exam compulsory for CBSE students as is the practice in all state boards. In the past the HRD ministry run Kendriya Vidyalayas (KV) used to offer German as a third language, but the practice was later discontinued.
The IIM grad who went back to her roots in Bihar to open a school for underprivileged children Twenty-eight-year-old Garima Vishal has embarked on a journey to educate under privileged children with an education system that is different from the one that is currently being followed in the country. Founded in 2014 in Muzaffarpur, Bihar, Dejawoo School of Innovation follows a three-pillar education system. How it all began An engineer from Manipal Institute of Technology, and an MBA graduate from IIM Lucknow, Garima hails from the town of Selra in Bihar. “My father has always encouraged my siblings and me to pursue higher education, as he understood the importance that education plays in today’s society.
Indian pharma views streamlined logistics key to successful supply chain management Indian pharma industry sees that logistics is the key for the successful supply chain management of drugs. The sector which handles huge stock keeping units now will need to capitalise the advantage of analytics and Internet of Things (IoT) to ensure both qualitative and quantitative management of drugs. According to PS Bhagavan, former deputy director, pharmacy, Karnataka department of health and family welfare, logistic failure, financial loss and consequent impact at the end-user level is yet to be addressed. The irony is that pharmacists are kept out of the cold chain management under National Immunization Programme. “A similar absence of pharmacists prevail in the private drug supply chain management too. The reality is that truck full of medicines are parked in scorching temperatures on the highways.
5 Methods for Improving Ecommerce Conversions Annual US retail ecommerce sales are predicted to be roughly $460 billion in 2017. Within three years ecommerce sales are predicted to grow to as high as nearly $700 billion. Online retailers know that ecommerce is big business but how can those retailers continue to improve their sales? Government asks e-wallet, e-commerce companies to strengthen cyber security mechanisms As the nation makes the transition to digital mode of payments in the post-demonetisation era, the Union home ministry has asked e-wallet and e-commerce companies to strengthen their cyber security mechanisms to prevent online fraud and hacking attacks. Sources in the home ministry on Friday said the information technology ministry and all concerned departments and agencies were recently sounded out on the heightened cyber threat arising out of the surge in digital payment transactions. "We stressed on the need for digital wallet and e-commerce companies to ensure secure payments through the digital mode. This has become imperative in the wake of alleged cyber fraud reported recently by Paytm," said a senior ministry official.
Searching for fairness in the Indian startup world The shock wasn't in what was said, but who said it. Sachin Bansal, co-founder of the country's largest startup which has, so far, stayed ahead of its biggest global rival in India, told a Bengaluru audience recently: "We need to tell the world we need your capital, but we don't need your companies".Voicing similar sentiments was Bhavish Aggarwal, co-founder of Ola, the company that has so far beaten the world's most valuable startup Uber in market share sweepstakes of the cab aggregation industry in India."It's much easier for non-Indian companies to raise capital because they have profitable markets elsewhere," said Aggarwal. "You might call it capital dumping, predatory pricing or anti-WTO but it's a very unfair playing field for Indian startups." What will bring more capital? India has not been a great market for venture capital investors.
Karnataka quota talk: 100% reservations for blue-collar jobs is ruinous The Karnataka government's decision to reserve all blue-collar jobs in all industries receiving concessions from the government—except IT and biotech (BT)—for Kannadigas puts it on a slippery slope. The Karnataka government’s decision to reserve all blue-collar jobs in all industries receiving concessions from the government—except IT and biotech (BT)—for Kannadigas puts it on a slippery slope. First, it sets a dangerous precedence of government-mandated reservation in the private sector. It would seem that with the flagship IT-BT industries exempt, the impact may not be too significant. But both traditional sectors like construction, logistics, etc, and start-ups in the e-tail space—both Amazon and Flipkart have warehouses in the state—that generate significant numbers of blue-collar jobs will be constrained in their recruitment, given they stand to lose the concessions if they don’t comply.
Social mobility promises 'broken' for ethnic minority childrens Black and Asian Muslim children are less likely to get professional jobs, despite doing better at school, according to an official report. The Social Mobility Commission said it uncovered "stark differences" between how groups progress into work. Some minorities have higher jobless rates, although poorer white boys are least likely to go to university.