Cashback and discount: Modi govt’s mega plan to boost digital transactions

The government is working on a proposal to incentivise digital transactions by providing cashbacks to businesses and price benefits to consumers, a source said.

As per the proposal being worked out by the Revenue Department, consumers paying through the digital mode would be offered a discount over the maximum retail price (MRP). The discount would be capped at Rs 100.

Businesses, on the other hand, could get a cashback based on the quantum of turnover through the digital mode.

The proposals to encourage digital transactions are likely to be placed before the GST Council, chaired by Finance Minister Arun Jaitley and comprising state ministers, on May 4.

According to the source, the issue of providing incentive for digital transaction was discussed at a meeting held in the Prime Minister’s Office.

During the meeting, three possible modes of incentivising businesses to go in for digital transactions were discussed. Apart from cashbacks, a proposal to allow businesses to obtain tax credit on the basis of turnover obtained through digital mode was also discussed.

Bihar molestation case: Fighting off attackers, girl finds no help; 4 held

The Jehanabad Bihar molestation case has seen four persons being arrested so far, police said on Monday. The case shocked the nation after the video of the incident went viral on social media sites. The video, which was captured by a local, shows a minor girl being hounded and molested by a group of youths in broad daylight. The incident took place on Saturday, the police said.

Jehanabad’s Superintendent of Police Manish Kumar said a special investigation team (SIT) arrested four of the accused. “Others have been identified and a hunt is on to arrest them,” he said. The SIT also seized a motorbike seen in the video. 4 people arrested in connection with the case. Nayyar Hasnain Khan, Patna Zonal IG, told news agencies that “faces of two people have been matched with the people in the video… four or five other people have been named by them”. He added that a search operation is underway.

According to police official Shayam Sundar Singh, an FIR was lodged against seven people involved in the case. Further, two SITs have also been constituted to investigate the incident.

According to the Hindustan Times, the survivor of the molestation is a 14-year-old girl.

Onlookers abandon survivor to her fate:

Some onlookers shot a video of the incident instead of helping the minor girl, all the while she pleaded with the men and resisted their attacks, News18 reported. According to the report’s details of the video, the girl tried to fight back as six or seven men tried to rip apart her clothes while lifting her off her feet. The girl kept looking at the camera and crying for help as the video continued to be shot without any hindrance.

Red Fort not alone; Dalmia Bharat also adopting 14th century Gandikota Fort

While Dalmia Bharat group will be beginning a facelift work at Delhi’s iconic Red Fort in the coming weeks, it is also gearing up to start work on the 14th century Gandikota Fort in Andhra Pradesh under the government’s ‘Adopt a Heritage’ scheme. The contract for the Gandikota Fort located in the Kadapa district of the state was signed by the Dalmia Bharat group on the same day as it signed the Red Fort deal with the Union ministries of tourism and culture and the Archaeological Survey of India, on April 9, 2018.

Dalmia Bharat officials said they adopted the Gandikota Fort since it was located close to their cement factory in the district which makes it logistically easier for them to monitor development and maintenance work at the monument overlooking a stunning gorge carved by the Pennar river in Andhra Pradesh.

“The location of the Gandikota Fort is quite remote. It is a living monument, with many households residing there. We do not want to evict any of them and wish to involve them in the monument’s maintenance. One of our primary tasks will be cleaning up the area as certain parts are being used as open toilets. No one wants to smell ammonia while strolling through the Fort,” said Sundeep Kumar, executive director of Dalmia Bharat group.

UPSC result 2017: 2nd topper Anu Kumari to go for IAS; all you need to know

Union Public Service Commission on Friday released the final result of UPSC Civil Services Exam 2017 on its official website. Hyderabad’s Anudeep Durishetty topped in 2017 Civil Services Exam. According to an official release, Durishetty topped the Civil Services Examination while Haryana’s Anu Kumari secured the second rank and was the topper among the female candidates. Sachin Gupta secured the overall third rank. According to the release, Durishetty belongs to other backward classes (OBC) category. He qualified the examination with Anthropology as his optional subject. He has graduated with B khE (Electronics and Instrumentation) degree from BITS, Pilani in Rajasthan. Meanwhile, Anu Kumari graduated with B.Sc (Hons) in Physics from Delhi University and has done MBA (Finance and Marketing) from IMT, Nagpur. The top 25 candidates comprised 17 men and eight women. Saumya Sharma, who appeared in the UPSC exams under the physically disabled category secured an overall ninth rank.

Everything you must know about UPSC 2017 result of Civil Services exam

— UPSC topper’s journey was not easy: Durishetty Anudeep, the topper of the Union Public Service Commission (UPSC) examination 2017 explained that his journey to crack the civil services examination was not an easy one.

“This is my fifth attempt. I have failed thrice before, and the journey was not easy for me. However, I am now extremely happy with my achievement, and I am grateful to all the people who supported me through thick and thin,” he told ANI.

28-year-old Anudeep, who has served as an Indian Revenue Service (IRS) officer for two years, bagged the first rank in the civil services examination, preliminary examination for which was conducted on June 18 last year.

Open paan shops or raise cows, don’t chase govt jobs: Tripura CM Biplab Deb

Tripura Chief Minister Biplab Kumar Deb has often found himself in the middle of controversies lately, thanks to his foot-in-mouth statements that trigger strong reactions and criticism. After receiving enough rap for his statements over “internet in the age of Mahabharata” and remarks on why Diana Hayden should never have won world pageants, even as Aishwarya Rai winning was fine, the Tripura chief minister has done it again.

This time, it is with a bizarre career advice to the jobless youth of his state. Deb suggested that they should chase self-employment through setting up paan shops and rearing cows instead of going after government jobs. He asked the educated youth not to run behind politicians for government jobs and instead become “self-employed” for a better living.

According to the Tripura Chief Minister, the youth of Tripura can become self-employed by starting various projects under the animal resource sector with bank loans, under the Prime Minister’s Mudra scheme.

It is interesting to note that Deb’s comments come despite and days after Prime Minister Narendra Modi cautioned all the BJP leaders to steer clear of controversies and not make irresponsible statements.

Nifty outlook and top trading ideas from Prabhudas Lilladher for today

Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst – Technical Research at Prabhudas Lilladher:

NIFTY VIEW

Nifty after crossing the much awaited resistance of 10,640 has reached the target of 10,700, view still remains bullish but 10,800-10,850 should be a level to watch as this would be a gain of 900 points from its correction which may witness profit booking. The support for the week is seen at 10,550 while resistance is seen at 10,850.

BUY KARNATAKA BANK 

CMP: Rs 122.50

TARGET: Rs 135

STOP LOSS: Rs 115

The stock after the decent correction has bottomed out at around 110 levels and has regained significantly to move past the moving average of 34 wma which is at 123 level and has indicated strength and potential to rise further till 135 levels., The RSI has been in a positive trending mode to signify strength in the stock for still furthermore rise in the coming days. With good volume participation witnessed we recommend a buy in this stock for an upside target of 135 keeping a stop loss of 115.

Short-term outlook for the market remains positive: Devang Shah

NIFTY

CLOSE- 10692.30 (27.04.2018)

Market closed 5th consecutive week in positive territory. It’s slow but steady extending on upside towards higher levels targets in short term as expected last week. It made a high of 10,719.80 levels so far in this week. It closed near high at the end of the weekly trading session. It’s trading in channel as per daily chart. All the other indices such as midcap, small cap etc also extended gain & closed weekly in positive territory. One can expect the market to extend further towards higher levels targets as expected below in short term. Any kind of decline or short term consolidation is stock specific buying opportunity till short term reverses.

Stock Picks:

BATA- BUY

CLOSE – Rs 790.50

TARGET – Rs 810/835

BATA closed weekly in negative territory. It’s outperforming in short term. Its consolidating in a narrow range for short term. It’s trading above 20 DMA. One can BUY with a stop loss of 760 for the target of 810/835 levels in short term.

DCB BANK– BUY

CLOSE – Rs 195.20

TARGET – Rs 205/209

DCB BANK closed weekly in positive territory. It’s outperforming in short term. It’s trading above 20 DMA. Risk reward is favorable to BUY at current levels. One can BUY with a stop loss of Rs 185 for the target of Rs 205/209 in short-term.

Aditya Ghosh quits as IndiGo prez; stock rebounds after 6% fall on Friday

Shares of Interglobe Aviation rebounded, gaining 1% on Monday after falling over 6% on Friday after IndiGo announced today that Aditya Ghosh will step down as President and is likely to be replaced by one of its former executives Gregory Taylor.

It said Rahul Bhatia, a promoter of the company, has been appointed as the interim CEO.

The development comes amid the airline embarking on ambitious expansion plans and its aircraft facing technical issues with engines.

“In the coming months, the Board will consider the appointment of Greg as President and CEO of the company, subject to receiving the necessary regulatory approvals and paperwork,” InterGlobe said in a statement.

Ghosh, who has been with the airline for ten years, said it has been a most satisfying task building IndiGo.

“It is now time for me to step off the treadmill and sometime in the near future embark on my next adventure. I wish all my colleagues at IndiGo the very best as they move on to the next phase of growth,” he said.

At 9:55 am, the scrip was trading at 1,417, up 0.8% as comapred to a 0.5% rise in BSE Sensex. The stock had hit a high and low of Rs 1,438 and Rs 1,361 in the day so far.

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Reliance Industries falls over 2% post Q4 earnings results

Reliance Indutries (RIL) fell over 2% after the company’s consolidated finance cost jump to Rs 25.66 billion as against Rs 5.56 billion in the last quarter of 2016-17, and Rs 21 billion in the December 2017 quarter.

The company reported a consolidated net profit of Rs 94.35 billion for the quarter ending March 31 (Q4) on the back of improved performance of its petrochemical and retail businesses. The profit was largely in line with the estimates and represents a 17.3 per cent increase over Rs 80.46 billion reported in the year ago quarter.

Earnings from the refining and market business took a hit, with a 10.9 per cent year-on-year decline in its earnings before interest and taxation (EBIT) for the March 2018 quarter. The company said, the fall was largely on account of reduced crude throughput and adverse move in Brent-Dubai crude oil price differentials.

According to Amar Ambani, head of research at IIFL, “Future outlook for refining and petrochemical segments look upbeat as the company ramps up off gas cracker and commences operations of petcoke gasifiers. We are raising estimates for retail and petrochemicals segment, while we maintain our forecasts for refining segment.”

Mallya says he wants to vote in Karnataka polls but can’t travel to India

Karnataka polls – Liquor tycoon Vijay Mallya, who had represented Karnataka twice in the Rajya Sabha, today said it was his democratic right to vote in the state assembly polls, but lamanted that he cannot travel to India, where he is wanted to face charges of fraud and money laundering.

The 62-year-old former businessman parliamentarian had first represented Karnataka as the member of the Upper House of Parliament between April 10, 2002 and April 9, 2008.

“It is my democratic right to vote in Karnataka, but as you know I am here and cannot travel,” he told reporters outside the Westminister Magistrate’s Court in connection with a hearing in his ongoing extradition trial, to rule if he can be extradited to India to face charges for financial irregularities involving an amount of around Rs 9,000 crores, as well as money laundering cases.

He was re-elected for the Rajya Sabha from the southern state on July 1, 2010 and resigned on May 5, 2016 before his the expiry of his term on June 30, 2016. He is in the UK since March 2016.