TCS FY16 Hire 28.2% – 90,182 Fire 17.5% – 55,995 Employees

October 29, 2016

October29, 2016 (C) Ravinder Singh progressindia2015@gmail.com

It is Astonishing 150 years old TATA GROUP Under Ratan Tata rule of 22
years TATA Group is reduced to a JUNK, out of $125b worth – $90b is
contributed by TCS and JLR as On October06, 2016. TATA COMPANIES WERE
STARTED BEFORE CYRUS MISTRY TOOKOVER.

Tata companies, taken together, generated revenues of $103.51 billion
(around Rs.6,77,556 crore) in 2015-16, with 67.3 percent of this
coming from international businesses.
Tata Motors FY16 Net Revenue Rs.2,75,561 Cr – Foreign Sales 84.6%
TM Standalone Rs.42,369 Cr – 15.4%; PBT Rs.150 Cr of Rs.13,980 Cr
Indian Operations Contributes 1% To Tata Motors PBT

Rest of $35b Worth of Tata Group are Lame Duck Companies surviving on
$50b debt which are growing everyday.

TCS was founded to automate Offices & Accounts of Tata Group companies
in 1968 in FT2016 Hired 90,182 or 28.2% of Employees but also fired
55,995 or 17.5% of Employees. TCS Net Employee Additions was 34,187 or
10.7% [353,843 – 319,656].

Can You Believe TCS Recruitment & Training Cost is Rs.364 Cr 0.34% Of
Revenue – Rs.40,000 Per Newly Recruited Employee?
TCS Spends Nothing On Training But Would Claim Indian Engineers Are
‘UNEMPLOYABLE’ When Recruiting Bulk Of Them
Revenue Growth14.7% For Net Employee Added 10.7%.
But Just $2b For 90,182 New Employees.

http://www.titan.co.in/TitanEcom/corporate/pdflinks/performance/2015-16/Titan_AR.pdf
TITAN Most Recognized BRAND of Tatas is Net IMPORTER –
80% of its Revenue from Jewelry Sales Generally Meant for SSI Sector.
FOREIGN EXCHANGE EARNINGS AND OUTGO
During the year under review, the Company earned Rs.337.35 crores in
foreign exchange and spent Rs.568.76 crores (including Rs.36.67 crores
in capital imports).

TATA POWER Standalone or Old Operations Contributes just 23% to Net
Sale – Rs.8438 Cr out of Rs.36,461 Cr But 88% of Net Profit Rs.772 of
Rs.873 Cr – Most TP Operations in Losses.

With TATA STEEL Already in Trouble TATA SONS IS STRUGGLING

Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, New Delhi-110016, India. Ph; 091- 9871056471,
9718280435, 9650421857
Ravinder Singh* is a WIPO awarded inventor specializing in Power,
Transportation,
Smart Cities, Water, Energy Saving, Agriculture, Manufacturing,
Technologies and Projects

RBI issues External Commercial Borrowings (ECB) guidelines for Startups

October 29, 2016

The borrowing per Startup will be limited to USD 3 million or equivalent per financial year either in INR or any convertible foreign currency or a combination of both.

Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the announcement made by the Reserve Bank in the Fourth Bi-monthly Monetary Policy Statement for the year 2016-17 released on October 04, 2016, for permitting Startup enterprises to access loans under ECB framework. Parameters for considering an entity as a Startup have since been published in the Official Gazette on February 18, 2016 by the Government of India. It is therefore decided, in consultation with the Government of India to permit AD Category-I banks to allow Startups to raise ECB under the following framework:

a. Eligibility: An entity recognised as a Startup by the Central Government as on date of raising ECB.

b. Maturity: Minimum average maturity period will be 3 years.

c. Recognised lender: Lender / investor shall be a resident of a country who is either a member of Financial Action Task Force (FATF) or a member of a FATF-Style Regional Bodies; and shall not be from a country identified in the public statement of the FATF as:

· A jurisdiction having a strategic Anti-Money Laundering or Combating the Financing of Terrorism deficiencies to which counter measures apply; or

· A jurisdiction that has not made sufficient progress in addressing the deficiencies or has not committed to an action plan developed with the Financial Action Task Force to address the deficiencies

Exclusion: Overseas branches/subsidiaries of Indian banks and overseas wholly owned subsidiary / joint venture of an Indian company will, however, not be considered as recognized lenders under this framework.

d. Forms: The borrowing can be in the form of loans or non-convertible, optionally convertible or partially convertible preference shares. The funds should come from a country which fulfils the conditions at 2 (c) above.

e. Currency: The borrowing should be denominated in any freely convertible currency or in Indian Rupees (INR) or a combination thereof. In case of borrowing in INR, the non-resident lender, should mobilise INR through swaps/outright sale undertaken through an AD Category-I bank in India .

f. Amount: The borrowing per Startup will be limited to USD 3 million or equivalent per financial year either in INR or any convertible foreign currency or a combination of both.

g. All-in-cost: Shall be mutually agreed between the borrower and the lender.

h. End-uses: For any expenditure in connection with the business of the borrower.

i. Conversion into equity: Conversion into equity is freely permitted, subject to Regulations applicable for foreign investment in Startups.

j. Security: The choice of security to be provided to the lender is left to the borrowing entity. Security can be in the nature of movable, immovable, intangible assets (including patents, intellectual property rights), financial securities, etc., and shall comply with foreign direct investment / foreign portfolio investment / or any other norms applicable for foreign lenders / entities holding such securities.

k. Corporate and personal guarantee: Issuance of corporate or personal guarantee is allowed. Guarantee issued by non-resident(s) is allowed only if such parties qualify as lender.

Exclusion: Issuance of guarantee, standby letter of credit, letter of undertaking or letter of comfort by Indian banks, all India Financial Institutions and NBFCs is not permitted.

l. Hedging: The overseas lender, in case of INR denominated ECB, will be eligible to hedge its INR exposure through permitted derivative products with AD Category – I banks in India . The lender can also access the domestic market through branches/ subsidiaries of Indian banks abroad or branches of foreign bank with Indian presence on a back to back basis.

m. Conversion rate: In case of borrowing in INR, the foreign currency – INR conversion will be at the market rate as on the date of agreement.

Other provisions like parking of ECB proceeds, reporting arrangements, powers delegated to AD banks, borrowing by entities under investigation, conversion of ECB into equity will be as included in the ECB framework announced vide A.P. (DIR Series) Circular No. 32 dated November 30, 2015. However, provisions on leverage ratio and ECB liability: Equity ratio will not be applicable. It may be noted that Startups raising ECB in foreign currency, whether having natural hedge or not, are exposed to currency risk due to exchange rate movements and hence are advised to ensure that they have an appropriate risk management policy to manage potential risk arising out of ECBs.

ESCAP Asia-Pacific Space Leaders Forum, 2 November, New Delhi, India

October 29, 2016

The Asia-Pacific Space Leaders Forum is being organized by ESCAP and the India Space Research Organization (ISRO) on 2 November 2016, which will be held in advance of the first Asian Ministerial Conference for Disaster Risk Reduction (AMCDRR), 3-5 November 2016, in New Delhi, India.

In light of the recent historic global mandates such as the 2030 Agenda for Sustainable Development, the Sendai Framework for Disaster Risk Reduction (SFDRR), and the Paris Climate Agreement, the Space Leaders Forum will be a crucial event for situating the Regional Space Applications Programme for Sustainable Development (RESAP) in this new global development landscape to ensure that the benefits of space technology applications reach all countries of the Asia-Pacific region.

The Forum will bring together heads of space agencies from around Asia and the Pacific, to identify ways to enhance regional cooperation in space technology applications to implement the Sendai Framework and also develop a strategy for expanding the use of space technologies for advancing sustainable development.

Additionally ESCAP is organizing three thematic sessions during AMCDRR covering issues including early warning systems, information management and sharing for disaster risk reduction, and disability inclusive disaster risk management.

WHAT: Asia-Pacific Space Leaders Forum

WHERE: Vigyan Bhawan, New Delhi, India

WHEN: 2 November 2016

The Big Loot in Group Health Coverage by State Insurers!

October 29, 2016

Weekly Newsletter

29 OCTOBER 2016

Note: Moneylife offices will remain closed on Monday and Tuesday for Diwali. While important news may be uploaded, there will be no e-magazine during this period. Next newsletter would be on Wednesday.

Weekly Newsletter

In September 2014, Jain International Organisation (JIO) got a group policy underwritten by National Insurance.

“Momentum is the center stage anomaly of recent years… an anomaly that is above suspicion……

Bank nationalisation was celebrated as one of the biggest achievements of Indira Gandhi, in…

In another exit, well not as big news as Tata Sons, Subramanian Anand, who was re-designated…

Richard Thaler is the world’s foremost theorist on behavioural finance, a field that was…

Small-cap stocks and mid-cap stocks have had a fantastic run over the past two years as the…

We had mentioned in last week’s closing report that Nifty, Sensex were directionless.

Maharashtra Chief Minister Devendra Fadnavis responds to former Central Information…

While many activists have been lamenting the lack of seriousness about making Right to..

Although Tata Sons Limited (Tata Sons) is an unlisted company and therefore accountable to a…

With all the controversies engulfing the Tata group these days, we took a look at the…

Ever since they were introduced, mutual fund sector schemes have been a priority for those…

Over the past few weeks, there has been a raging debate among distributors of financial…

“While incidents of plastic card related fraud will come down over the years, criminals will…

Ahmedabad-based paper trading company, Kushal Tradelink, claims to be a leading player in…

Comments

Popular posts from this blog