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Showing posts from December 4, 2015

Cos Rework Strategies for Online Reputation

Rush to experts to insulate the image they have created over years from such shocks For many brands, the backlash over actor Aamir Khan's intolerance comments has offered a lesson on the perils from social media. Several of these companies are rushing to experts on social media and online reputation management to rework their strategies and insulate the image they have created over years from such shocks. The Khan controversy generated more than six lakh tweets on the actor over the past week, according to data compiled by social media analytics firm Blueocean Market Intelligence. Snapdeal, the ecommerce company Khan endorses, was the hardest hit, with many of those tweets and comments on other social media platforms calling to boycott the brand for its association with the actor. “We are getting queries from some of the brands that the actor is associated with. They reached out to us to understand how they can rework their strategies on social media,“ said Anees Merchant, Blueocean&…

Govt may Scrap 1% Inter-State Tax to See GST Through

But won't cap rate for GST in Constitution; Cong too ready to cede some ground India may have moved closer to the much-awaited goods & services tax (GST) with the government and Opposition finding some common ground on crucial elements of the proposed levy . This follows PM Narendra Modi and the ruling Bharatiya Janata Party reaching out to Congress in the search for a compromise to break the stalemate on GST. The government is likely to concede the Congress demand to do away with the 1% tax on interstate sales, which was proposed to compensate manufacturing states such as Maharashtra, Gujarat and Tamil Nadu that fear loss of revenue in the new indirect tax regime. Government sources, however, indicated that capping the GST rate in the Constitution -as demanded by Congress -is not acceptable. Though the Centre is not willing to cap the GST rate in the Constitution, government sources said alternatives such as including it in the law related to this could be looked at. Chief Econ…

Lower import duty for gold refineries discriminatory Jewellery industry

High import of unrefined gold because of a nomaly in import duty Faced with unprecedented rise in import of unrefined ( dore) gold, gem and jewellery players have urged the government to rationalise tax benefits to domestic refineries. These refineries enjoy tax benefits of two per cent, which in bullion trade parlance is very big, as the jewellery industry is operating with wafer- thin margins. Domestic refineries enjoy net one per cent lower duty incidence benefit after Cenvat and refiners in excise free zones like Uttarakhand enjoy net two per cent benefit. Hence they are better placed to sell gold at a competitive price. They sell gold at a little discount and hence jewellers buying from them are better placed compared to those who are dependent on imports. “Hence, the government should rationalise the benefits granted to gold refineries. While there is a need to give lot of impetus to domestic refineries, but, at the same time, other players in the industry should not suffer,” said…

Regulator issues discussion paper on 'green bonds'

The Securities and Exchange Board of India (Sebi) on Thursday issued a concept paper on "green bonds", which would enable corporate groups to raise capital for environment-friendly purposes. Green bonds are like ordinary corporate bonds but with one major difference: They are used to fund projects that help in reducing the carbon footprint. Sebi has proposed ways to monitor the use of funds that have been raised in this way. "An issuer shall have to disclose in the offer document following additional information about the green bonds," stated the Sebi discussion paper. However, experts feel without incentives, companies won't be attracted to the segment. "Though Sebi's initiative seems like a step in the right direction, but without any incentives or differential treatment, there won't be many takers for these bonds. We will have to wait for the ministry and central bank to decide on incentives because currently Sebi discussion paper is more regulator…

Draft norms on marginal cost of fund not feasible SBI

Repo rate in the Indian context is a blunt instrument, says Bhattacharya The present Reserve Bank of India ( RBI) draft guidelines on computation of the base rate of banks, linked to marginal cost of funds, were not going to work out, and bankers had already given their suggestions to the regulator, said Arundhati Bhattacharya, chairman, State Bank of India (SBI), on the sidelines of an interactive meet with the Ladies Wing, Bengal National Chamber of Commerce and Industry here on Thursday. Bhattacharya also suggested that for banks to pass on the repo rate rate cut to borrowers, on the lines of the fixed tenure and rates on deposits, on the lending side too, lenders should be allowed to immediately charge lower interest only for new loans. On old loans, the new rates could be applicable only after a year, she suggested. Further, repo rate was a “ blunt instrument” in deciding the interest rate, she added. “We need to look at how we can balance the book better. For example, if our deposi…

No woman on board 2,690 firms to get notice

As many as 2,690 companies are yet to appoint a woman director on their boards, even as the last date to do so was over eight months ago. The Centre has started the process of serving show- cause notices on such companies. According to the data, 10,328 companies, registered under the CompaniesAct, 2013, shouldhave appointed at least one woman director by April 1, 2015. Only 74 per cent ( 7,638) of them have complied with the law so far. “Show- cause notices are being sent to the companies,” said the government in a reply obtained under the Right to Information Act. However, the law does not prescribe any specific penalty at this stage, said Harish H V, partner – India Leadership team, Grant Thornton India LLP. According to the Act, every public company, having paidup share capital of Rs.100 crore or more or having aturnover of Rs.300 crore or more, should have appointed at least one woman in their board by April 1 “The usual reasons ( behind not appointing women directors) are that there…