Banking Awareness 24th December 2016 | Financial Affairs 24th December 2016.


GST Council to discuss dual control on Dec. 23

Finalising the Central and State GST laws.

The Goods and Services Tax Council has moved closer to finalising the Central and State GST laws during the seventh meeting of the Council, even as the issue of cross empowerment will come up for discussion.

Cross empowerment

Remains a sticking point in the GST Council.

Grundfos to foray into new geographies in India

To introduce hot water re-circulation pump market

  • Denmark-based water pump maker Grundfos, as part of its growth plans in 2017, would foray into ‘new geographies in the domestic market’ and by introducing new products.
  • The company was also mulling growth by exploring opportunities in ‘hot water re-circulation pump market’ and also in the area of recycling sewage water.

N.K. Ranganath

Grundfos India Managing Director.

Zicom bags contract for securing 6,000 ATMs

(ATMs) with e-surveillance systems

  • Banks are securing their automated teller machines (ATMs) with e-surveillance systems, a shift from the practice of deploying guards, for enhanced safety, reliability as well as reduced costs.
  • In the first phase, 20,000 ATMs have been taken up by both private and public sector banks, including SBI, HDFC, Axis, ICICI and PNB.

Pramoud V Rao

Managing Director of Zicom Electronic Security Systems Ltd.

Tatas eye consolidation in infra, defence and financial sectors

Future growth platform are in focus.

Tata Sons, the $103 billion salt-to-software conglomerate is planning to consolidate many of its businesses to create power houses in the respective areas of infrastructure, defence, consumer services and financial services as future growth platforms.

Other sectors which Tata eyes’s are

  • Wellness
  • Beauty
  • Quick service restaurants

Sun Pharma to acquire Novartis’ cancer drug

Odomzo helps treat locally advanced basal cell carcinoma

Sun Pharmaceutical Industries, India’s biggest drug company, has announced plans to acquire a branded oncology product, Odomzo, from Novartis for an upfront payment of $175 million (Rs.1,188 crore).

Odomzo

Approved by the USFDA in July 2015.

Watch as interactive video 

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Banking Awareness 24th December 2016 | Financial Affairs 24th December 2016.

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