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Business Standard

Business Standard

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BJP win in UP to trigger war on cash; banks to benefit: BofA-ML Bharatiya Janata Party's (BJP's) landslide victory in the key state of Uttar Pradesh (UP) is likely to intensify the government's war against black money / cash, suggests the latest Bank of America-Merrill Lynch (BofA-ML) equity strategy report co-authored by Sanjay Mookim and Anand Kumar. The crackdown, the report suggests, could entail more transaction disclosure, increased tax on cash, restrict cash holdings (remaining un-implemented proposal of SIT on black money). This war on cash, BofA-ML feels, will be beneficial for banks as it would result in more financial inclusion, more fees and potential lending. Better reporting can allow private banks to compete with the public sector units (PSUs) for SME (small and medium enterprises) business, it says. Also Read: UP poll result has made a mockery of the criticism that demonetisation got: Chris Wood "Loan waivers (if large enough and if replicated outside of UP) can be taken negatively, especially for the PSU banks.

Jaitley reaches Parliament; Budget on schedule PM @narendramodi arriving in Parliament House, for the #Cabinet Meeting before presentation of #Budget2017— PIB India (@PIB_India) February 1, 2017 Saddened by E Ahamed ji's demise but Budget will be presented. Crop loan waiver in UP could cost BJP govt less than Rs 8,000 cr With agriculture contributing over 27 per cent to Uttar Pradesh’s net state domestic product, the incoming Bharatiya Janata Party government’s promise to waive loans taken by small and marginal farmers, an assurance Prime Minister Narendra Modi repeated several times during his campaign, looks impressive on paper and could go a long way in reducing farm indebtedness. But experts feel a waiver of crop loans can have a negative impact on credit quality in farming. Also, state governments can only waive crop loans taken from cooperative banks and primary agricultural cooperative societies (PACS), which extend a small part of total farm loans. Most farmers take loans from nationalised banks and a big waiver can only be done by the Centre.

Uttarakhand elections: Rahul Gandhi, Harish Rawat perform Ganga aarti With just two days left for the Uttarakhand assembly polls and the state Congress striving hard to woo voters in the last leg of the election campaign, vice-president Rahul Gandhi and Chief Minister Harish Rawat took part in Ganga Aarti at Haridwar's Har Ki Pauri late night on Sunday. Rahul also held a 75-km long road show and a Nukkad Sabha in the city. A day before, tearing into Prime Minister Narendra Modi's 'real' motives behind demonetisation, Rahul Gandhi branded the move as a tool to waive off loans worth crores taken by some 50 rich families, instead of an initiative against black money as the Prime Minister has projected. "He claimed that black money is in Swiss bank accounts, and that he would bring the money back from Swiss banks. The Swiss government has given him the names of Swiss account holders.

Fashion lovers can buy look-alike runway lines through Facebook, Instragram The much awaited Amazon India Fashion Week autumn/winter 2017 has begun for fashionistas. This year, Amazon has innovatively decided to move runway merchandise in real time through platforms like Instagram and Facebook. According to The Economics Times, Amazon is betting heavily on Facebook and Instagram for ramping up the focus on Amazon India Fashion Week Autumn Winter 17 (AIFWAW17). UP: Woman who accused SP MLA of rape found dead in Sultanpur A 22-year-old woman, who had accused Samajwadi Party MLA Arun Verma of raping her along with some other youth in 2013, was found murdered near her house in Sultanpur, police said on Monday. The body of the woman, who was missing since Saturday, was found on Sunday near a primary school in Jaisinghpur, they said. An FIR has been registered in this regard. Police said the injury mark around her neck suggested that she was strangled to death. The body has been sent for postmortem to ascertain the cause of death. The woman had alleged that the local MLA, who is also the SP's Sultanpur candidate for the February 27 polls, and some others had gang raped her in September 2013.

A guide to creating a retirement budget -Business Standard Retirement means taking things easy. But in order to have a happy one it is never a good idea to be complacent about the planning. Finance institutions like HDFC Life offer tailor-made innovative pension plans to provide financial security for a happy retired life without compromising on living standards. Experts, in fact, recommend that retirement planning should start from the day you start earning. Presenting six steps to help retire in comfort.

Brand Akhilesh Yadav and the American style of campaigning The 2014 general elections represent a watershed in the Indian electoral history in many ways. For one, it changed forever how campaigns are conducted in the country. The Lok Sabha poll campaign saw the then Gujarat chief minister, Narendra Modi, creating a parallel campaign machinery outside of the party to take his word to the people. His campaign to become the Prime Minister had, in fact, kicked off even before the Bharatiya Janata Party (BJP) named him its Prime Ministerial candidate. Citizens for Accountable Governance (led by political strategist Prashant Kishor) helped Modi run a political campaign that could have given any MNC giant a run for its money. Through his 360-degree campaign, Modi reached out to disparate voters using their own communication mediums.

Latest News: Before Bahubali 2, makers to release Bahubali 1 again Rajamouli today said they are planning to show the first part a week before the second edition hits theatres on April 28. "We are planning to release part one maybe one or two weeks before the release of part two in southern states so people can get back into the narrative," Rajamouli said at the trailer launch of the Hindi version here. Both Rana Daggubati and Prabhas are overwhelmed with the response to the trailer.

Modi replies to Akhilesh's taunt, says people of UP are not fools Taking a jibe at Chief Minister Akhilesh Yadav's repeated assertion of 'kaam bolta hai', Prime Minister Narendra Modi on Monday threw light on the rising crime rate in Uttar Pradesh and accused the Samajwadi Party of fooling the people. "They (Akhilesh) say 'kaam bolta hai', but several projects here are incomplete. What is speaking volumes are the instances of women harassment in the state," Prime Minister Modi said while addressing a rally here. Apple releases red iPhones, cuts prices on lower-end iPads Apple is refreshing and cutting prices on two of its iPads, but held back on updating its higher-end tablets. A much-speculated 10.5-inch iPad didn't materialise, nor did new versions of iPad Pros aimed at businesses and creative professionals. Apple unveiled the new iPads through a press release rather than a staged event, the opposite of the process reserved for bigger product releases, which typically are unveiled in September or October, in time for the holiday shopping season.

EC cracks whip, orders FIR against Hindi daily for running exit poll Cracking the whip, the Election Commission on Monday ordered registration of cases against the management and Editor-in-Chief of Hindi daily Dainik Jagran for publishing an exit poll on the first phase of Uttar Pradesh assembly elections. The EC also ordered an FIR against the management of Resource Development International (RDI) -- the company that conducted the exit poll -- for violating an EC order that bars publication/broadcast of exit polls till the voting is over in poll-bound states of Uttar Pradesh, Punjab, Goa, Manipur and Uttarakhand. The poll panel has directed the District Election Officers of the state's districts covered under the first phase of elections on February 11 and Lucknow to immediately register cases against the managements of RDI and Dainik Jagran as well as the newspaper's Editor-in-Chief under Section 188 of the Indian Penal Code (IPC) read with Section 126-A and 126-B of the Representation of People Act.

Apple to start making iPhone 6 and 6S models in India over next two months Apple Inc. will soon start assembling iPhones in India for the first time, say government officials familiar with its plans, boosting the company's chances of gaining a foothold in the fast-growing market. Taiwanese contract manufacturer Wistron Corp. will likely start making iPhone 6 and 6S models here in the next four-to-six weeks at its plant in Bangalore, said an official of the southern state of Karnataka where the tech hub is located. It will add Apple's cheapest iPhone model, the SE, to its assembly line in about three months, the official said. "Almost all preparations have been done for launching Apple's first phase project in Bangalore through Wistron," the official told The Wall Street Journal. "We've been working hard to develop our operations in India," an Apple spokeswoman said. "We appreciate the constructive and open dialogue we've had with government about further expanding our local operations."