INDIA'S 10 NEW DOLLAR BILLIONAIRES.
                                     courtesy: Rediff.com.

 

Mr.V.Kannan,CMD addressing media with .Mr.K.R.Shenoy (R) & Mr.B.S.Rama Rao (L)
Executive Directors.

VIJAYA BANK
Q1 RESULTS JUNE
2014.

Deposits up by 12.63%
Advancesup by13.43%

Interest Income up by 24.34%,Total Income up by 18.19%.

Net Profit up by 21.89%.

Gross NPA at 2.68%
Net NPA    at 1.77%
Provision Coverage Ratio at 63.75%. Book Value is at Rs.67.52.share Holding:Government of India:74%
Public:26%. CASA: 19.15%,Retail credit at 20.86% of total advances.NII is at Rs.535.48 crores.
Cost of Funds:7.44%,Yield on Advances :9.04%.Business per employee:Rs.14.63 crores.
Total number of branches:1516 and ATM's : 1536.
The bank is in the process of raising equity capital to the tune of Rs.600 crores 
through 'Qualified Institutional Placement' route for augmenting the Tier I Capital.

Mr.Sharad Sharma M.D.Addressing media.

STATE BANK OF  MYSORE

Q1-FY RESULTS- JUNE 2014.

NET PROFIT ZOOMS TO 44%.

- Other Income and NPA's recovered makes Net profit increase.

Total Business: (Rs. in crores)

Deposits:Rs.61,000.         

Advances:Rs.49,000.      

Gross NPA     : 5.13%

Net NPA        :  2.72%

The bank has made cash recoveries of Rs.541 crores during the quarter  and also has upgraded the assets of Rs.173 crores.

The credit deposit ratio is at 81%. Non Bulk deposits is at 88%.To a question about the proposed plans of Government of India regarding merger of the bank with State 
Bank of India,the Managing Director said that at present there is no 

concrete information.The bank is planning to raise Rs.500 crores through Rights Issue.
Capital Adequacy ratio as per Basel III norms  was at 11.16% for the quarter.

Mr.R.K.Dubey,CMD,Canara Bank addressing Media.

CANARA BANK'S Q1 FY 15
RESULTS.

Canara Bank's net profit marginally rises to Rs.807 crores
compared to Rs.792 crores for 
the same quarter last year.

The Chairman Mr.R.K.Dubey said that the bank is planning
to raise Rs.3000 crores through QIP (Qualified Institutional Placement) route and the bank has obtained RBI permission.

The net NPA ratio is at 2.03%.

Ms.Shanna Dietz Surendra introducing
Dr.Susan Lund.

SESSION ON "Global Flows in a Digital
Age" with US Consulate,Chennai.

McKinsey Global Institute prepared a report
on cross border flows like trade of goods & services,flows of finance,the movement of people,and the growing flow of data and communications for 195 countries.

Dr.Susan Lund Addressing the gathering.

Dr.Susan Lund,Partner, Mckinsey Global
Institute (MGI) ,business arm& economics research arm,Washington,D.C addressed the invitees.

Dr.Susan Lund's research focuses on global financial markets,labour markets & on economic growth.The report says over 40% of goods & services,40% of finance of global business 
is going to be cross border flows in 2025.Global flows of goods & services & finance which
reached $25.9 trillion in 2012 may triple say $85 trillion  by 2025. She observed that
India's exports of 16% of GDP must improve  as the oppurtunities are big.

India is  11th largest goods trading partner with USA with $63.7billion 
(total-both ways) goods trade in 2013. 

   WORLD BANK FORECASTS 6.7% GROWTH RATE FOR INDIA      BY        FY 2015.

   Exports & Investments are projected to strengthen and  
   provide boost to growth .In its latest report " Global 
   Economic Prospects"the world Bank said South Asia's regional              growth    will be  driven       mainly by a projected pick up in India.
   However, how the robust growth will depend on the pace of policy 
  & fiscal reforms and  remains subject to  significant uncertainty & downside 
   risks.

    World Bank Chief Mr.Jim Yong Kim will meet Prime Minister Narendra Modi 
    this week to understand his development  priorities.

    Source : rediff.com.
   

AIR INDIA

WHO IS RESPONSSIBLE FOR THIS  PLIGHT?.

Is it not time to fix accountabillity and show
to the people of India who are all responssible
for this state of affairs in our national carrier?.

ASSOCHAM REACTIONS ON BUDGET:Budget is realistic,Targets Achievable,

Focus on reviving Maufacturing .The emphasis on key  infrastructure like roads,

and airports will revive investor confidence in the key sectors of the economy.

Seventh ISSS  International Conference on Smart Materials Structures
& Systems  (ISSS 2014)- July 08 to July,11,2014 at J.N.Tata Auditorium,Bengaluru.

Institute for Smart Structures and Systems (ISSS) organised the conference 
covering topics including:

                             # Adaptive/ Smart materials.
                             # Sensors & Actuators.
                             # Design,Modelling & Simulation.
                             # MEMS: Design,electronics & Packaging.
                             # Nanotechnologies.
                             # Micro and smart systems for  energy harvesting.
                             # Signal conditioning & processing techniques &
                                Cyber physical systems for micro systems.
                             # Applications : Structural Health monitoring,Automotive
                                Sensors ,Agriculture,BioMEMS & RF-MEMS. 

                                       ORAL EXPERTS DEMAND HIKE IN TAXES FOR TOBACCO
                                                                       RELATED PRODUCTS.

     Increasing tobacco addiction cases among youth has been a major cause for 
     worry.While there have been attempts to tackle the issue via awareness 
     campaigns,experts say that increasing the price of tobacco through higher 
     taxes is the most effective way to curb tobacco usage.   

     Prominent experts in oral medicine including Dr.Prabhuji MLV,President
     Indian Dental Association,Karnataka addressed the media.They said
     that World Health Organisation (WHO) recommends a 65% to 80%
     tax on tobacco products.India falls short of this benchmark.Here,
     Karnataka stands at a dismal 17% on cigarettes & 0% on beedis
     according to the press release of Indian Dental Association-Karnataka.
                                   
        

                                          VIRTUAL CURRENCY-BITCOINS.

              The Financial Action Task Force (FATF),an independent intergovernmental
              Organisation has published a paper looking into the money laundering and
              terrorism financing risks involved with digital currencies.

              Coincidentally, the paper was published just days after the OECD published
              a white paper ' a working paper on bitcoin'.

              The paper points out that ' virtual currency has the potential to improve 
              payment efficiency and reduce transaction costs for payments and fund
             transfers.Bitcoin may potentially provide benefit to existing online 
             payment systems like paypal".

             On the RISK side,FATF concludes digital currencies are "potentially
             vulnerable to money laundering and terrorist finance abuse".

            Source; Global Financial Integrity.

                                                                
                          ISRAELI  FILM FESTIVAL  IN  BENGALURU.                                      .   
                           

               The Consulate General of Israel  announced screening of 9  Israeli films 
               during the first ever official Israeli Film Festival to be held in the city from 
               July,3 to 31st July,2014.

               Mr.Menahem Kanafi,the Consul General of Israel in Bengaluru announced 
               the details of the film festival to the media.He said,"the idea behind such a 
               festival is to expose the various facets of life in Israel and to point out 
               universal connections between Israeli and Indian art-and life.It is a  
               privilege to screen Israeli films in a country like India which is one of the 
               world's leading film producers".

               The festival features some of the best of Israeli cinema including the 2011 
               Oscar nominee in the Best Foreign film category i.e 'FOOTNOTE". The  
               films will be screened at Suchitra Film society,Alliance Francaise,
               Bangalore International Centre and Shanti Road studio and will have  
               35 screenings in total.

               The film festival is open to public at all the four centres and it is FREE. 
               The films will be screened at 6.30 P.M.The films to be screened are 
               ALBUM 61, BY SUMMER's END, 5 HOURS FROM PARIS, THE BAND's
               VISIT, JELLY FISH, SWEET MUD, and BONJOUR MONSIEUR SHLOMI.
               All the films will have English sub titles.
                                                         

BGS GLOBAL HOSPITALS PERFORMS FIRST DUAL ORGAN TANSPLANTATIONS IN KARNATAKA.

BGS Global Hospitals,Bengaluru,performed
the first dual organ (Liver & Kidney) Transpnatation procedure.
Addressing the media,Dr.N.K.Venkataramanaa,Vice Chairman & Chief NeuroSurgeon,BGS Hospitals said,"This is a tribute to all the doctors on the eve of Doctor's day (1.07.2014),the birthday of
Dr.B.C.Roy".He also  said, that the latest problem faced by many is the "fatty Liver' 
due to our food habits.
The dual organ transplantation was performed by a team of multi organ transplant surgeons,Dr.Mathew Jacob,Dr.Sonal Asthana,Dr.Rajiv Lochan,& clinically supported
byDr.Kaiser Raja,consultant,Hepatologist,Dr.Anil Kumar,Consultant,Nephrologist
at BGS Hospitals.

Dr.Mathew Jacob said," It is a rare condition where both Liver & Kidney had failed
simultaneously.Luckily, the family of a brain dead patient came forward to donate 
the organs.After an extensive 4 hour surgery ,organs were retreived carefully for transplantation.
Then the patient was prepared for receiving the transplantation.First,his damaged 
liver was removed and the donated liver was transplanted.Subsequently,kidney was  
also transplanted through a separate incision under the same anaesthesia.It was a  
14 hour marathon surgery and the patient is recovering well,according to the press  
release of the hospital.