Arundhati Bhattacharya, Chanda Kochhar among most powerful women outside US


  •  SBI chief Arundhati Bhattacharya, ICICI head Chanda Kochhar and Axis Bank CEO Shikha Sharma, are among the 50 most powerful women based outside the US, according to a list by Fortune which is topped by Banco Santander’s boss Ana Botn
  • Bhattacharya, 60, is ranked second on the list, while Kochhar comes in on the fifth spot and Sharma on the 19th position in the Fortune’s ’50 Most Powerful Women International’ list, which has ranked the women based outside the US
  • “Bhattacharya’s profile has risen during her three-year tenure atop India’s largest bank,” Fortune said
  • SBI Chairperson Bhattacharya, who was widely speculated to succeed Raghuram Rajan as Governor of the Reserve Bank of India
  •  “High-profile battle with the bank’s bad loans, while courting overseas partners to invest in the stressed assets

Samsung Electronic to halt South Korea Note 7


  •  Samsung Electronics Co Ltd has decided to halt television advertisements for the Galaxy Note 7 smartphone in South Korea
  • Until the firm can resume new sales of the phone, a person familiar with the matter told Reuters on Tuesday
  • The person said ads already paid for would run until the end of their respective contracts
  •  TV advertisements for the phones should end in South Korea sometime this week
  • TV advertisements for the Galaxy Note 7 smartphones should end in South Korea sometime this week, said a person familiar with the development

Live FTSE 100 sinks below 6,700 and pound dips as UK inflation holds steady


  • FTSE 100 breaks 6,700 after heavy sell-off
  • European bourses end three-day losing streak
  • Pound hovers drops to intraday low after UK inflation data
  • UK inflation data holds steady in August
  • China stocks end flat despite upbeat economic data
  • Eurozone employment rises to highest level since 2008

Hasten slowly on GST its a one way trip


  • Finance minister Arun Jaitley admitted the other day that the target date of April 1, 2017, for operationalising the goods and services tax (GST) was “very stiff “
  •  Even if Prime Minister Narendra Modi were to agree to relax the deadline, it would still remain “stiff”
  • It is the politics of GST implementation that is daunting
  • The mechanics of implementation – getting the GST Network up and running, training tax officials to handle the new system, and nudging companies
  • To install the necessary software and hardware at their ends – will be hard enough. But the politics will be a minefield

Vijay Mallya’s Kingfisher Villa on the block for Rs 85 crore


  • Mallya’s fabled Kingfisher Villa in Goa has been put on the block by SBI for Rs 85 crore
  • The property, a landmark on Candolim Beach, has an area of 12,350 square meters
  • The bungalow was attached following a default by Kingfisher Airlines
  • The auction of the beachside property will take place on October 19  The property, a landmark on Candolim Beach, has an area of 12,350 square meters
  • The Villa itself comprises of three big bedrooms and a huge living room containing has hand-crafted teakwood furniture has been designed in Goan style by Dean D’Cruz a famous architect from the state.

KG-D6 case: ONGC won’t accept Shah Panel report, will contest key findings


  • Oil and Natural Gas Corp (ONGC) will likely question the role the Directorate General of Hydrocarbons (DGH) played
  • While Reliance Industries (RIL) was pumping out gas from the state firm’s fields, and argue strongly that its claim for compensation can’t be wished away just on the ground that the firm hadn’t developed
  • Then commercially unviable fields, signaling that the state firm will not quietly accept the government panel’s recommendations
  • The board of the country’s largest oil and gas producer recently discussed the report of the government panel, headed by retired judge AP Shah
  • RIL had unjustly gained by producing gas from the fields operated by ONGC.

Microsoft’s LinkedIn three-step strategy for India


  • LinkedIn, makes one of its first big post-Microsoft acquisition announcement for India
  • To put things into perspective, LinkedIn has 37 million members in India, that is now being considered as the growth field by many companies
  • The three initiatives are LinkedIn Lite, LinkedIn Placements and LinkedIn Starter Pack
  • The three ‘strategic steps’ bring easy access with lite version, ensuring students across the country get on the platform, and finally going the enterprise way to offer a structured format to otherwise unorganised startups and SMBs.
  • Let’s take a look at them one by one, and see how they fit into Microsoft’s plans for LinkedIn.

Income Declaration Scheme Pay tax on time to get relief, CBDT says


  • The Central Board of Direct Taxes (CBDT) said assessees taking advantage
  • Direct Tax Dispute Resolution Scheme, 2016, will be required to pay the taxes within the stipulated period to avail the relief under the scheme
  • Only declaring undisclosed income isn’t enough to get relief; it’s important to pay the stipulated tax on time too, the direct taxes body
  •  “The tax payable under the scheme should be paid to the credit of the government on or before the due date as specified in the scheme
  • The assessees are advised to pay the tax well on time so as to avail the relief under the scheme,” Central Board of Direct Taxes (CBDT) said in an FAQ.

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