This newsletter is from Raju and Prasad Chartered Accountants. The editorial comments discuss the recent restrictions imposed by the Government of India on the slaughter of cattle under new animal welfare rules. This ban could impact farmers who sell older unproductive animals and the rural meat and leather industries. While some states already had restrictions or bans, the new national rules could encroach on state powers and challenge regional eating habits. The meat and leather industries are economically important for India as the second largest producer of livestock and footwear globally.
This newsletter is from Raju and Prasad Chartered Accountants. It contains articles on the Financial Resolution and Deposit Insurance Bill, 2017 and an industry review of the banking sector in India. The editorial comments on the proposed bill which aims to create a framework for resolving financial firms in distress through liquidation or other measures, superseding existing laws. It also discusses deposit insurance which may not fully protect depositors. The industry review provides a history of banking in India from ancient times to the present, describing regulatory mechanisms, legislative support, banking networks and reforms over time.
50 years of independence of bangladeshTaniaAkther2
This document discusses women's empowerment and role in Bangladesh's financial sector over the past 50 years since independence. It provides background on empowerment of women and their position after liberation. It then outlines the various financial institutions in Bangladesh, including different types of banks, insurance companies, and non-bank financial institutions. The document also examines women's participation and roles in these financial services historically and currently. It analyzes trends in the stock market, including the number of female investors and findings from a survey of female investors. Overall, the document examines progress and challenges for women in Bangladesh's financial system over the past 50 years.
This paper is a presentation of the concept of rule of law, Dicey's theory of 'Rule of Law', rule of law in true and modern sense and rule of law in Bangladesh. In Bangladesh context I have discussed the provisions for ensuring rule of law in Bangladesh constitution. I also have discussed the provisions of the constitution, which are contrary to the concept of rule of law in Bangladesh. It has been also identified the difficulties of application of rule of law in Bangladesh. Bangladesh is a combination of competitive market, business-friendly environment and cost structure that can give the best returns. Bangladesh offers a well-educated, highly adaptive and industrious workforce with the lowest wages and salaries in the region. Bangladesh is located in the Southern Asia, bordering the Bay of Bengal with the coastline covering 580 km between Burma & India with the land boundaries 4,246 km. The economic position of the country is GDP/PPP (2011 est.): $100 billion; per capita $664, Real growth rate: 6%, Inflation: 11.3%. The Industries are Textiles, Jute, Garments, Tea Processing, Paper Newsprint, Cement, Chemical Fertilizer, Light Engineering, Sugar, Ceramics and Pharmacy. Natural resources are Gas, Timber and Coal. The government type is parliamentary democracy. Capital is Dhaka and there are administrative 7 divisions. Bangladesh seceded from Pakistan in December 1971. The British-era legislation applied in Pakistan after 1947 and post-partition legislation enacted in Pakistan continued to form the basis of Bangladeshi personal status laws, but legal developments since 1972 have been distinct.
Performance evaluation of life insurance companies of BangladeshFara Ul Fath Shawron
Insurance is deemed as an unsought product which consumers actively do not show interest in
buying. Either they are forced to buy the product (in case of vehicles
insurance) or they are to be educated about the importance and advantages of buying it.
Bangladesh, being a third world country, has a very low rate of insurance due to being unaware
about the importance of it. Bangladesh is the most under insured country in the non-life insurance
category, standing to lose as much as 0.8 percent of GDP from natural disasters a year, said Lloyd's
of London, one of the leading insurance market places in the world. To shed a bit
more light into it, Bangladesh had the largest insurance gap among the 43 countries covered in
the report standing at 5.5 Billion USD or in other words, only 2.1% of the total GDP. Per head
insurance premium is only $8 which just states that it is safe to say that maximum people in
Bangladesh don’t possess any kind of insurance. So, the operation of insurance companies in
Bangladesh is a bit critical and tougher because they also have to make people aware about
insurance.
This document is the annual report of D.G. Khan Cement Company Limited for the year 2013. It includes the directors' report which discusses the state of the Pakistani economy and cement industry in 2013. The economy grew at an average of 2.9% due to issues like energy crisis and security issues. The cement industry also saw slow growth of around 4-5% due to low economic activity and energy shortages. The report provides an overview of the company's financial performance and operations for the year.
This newsletter from Raju and Prasad Chartered Accountants provides information on the Indian economy, Union Budget 2018-19, and the insurance sector in India. It contains sections on the editorial comments on budget and growth, an industry review of the insurance sector covering its evolution, types of policies and companies, and current status and challenges. Other sections include a policy watch on indirect and direct tax updates, recent legal verdicts, and a photograph. The newsletter is intended to help readers by providing expert analysis and updates on important financial and economic issues.
Lakshmi was a seamstress who took out small loans from SKS Microfinance to expand her tailoring business. With additional capital from the loans, she was able to buy more sewing machines, hire employees, and outsource work, growing her small business into a thriving operation that employs several people. She now supplies thousands of saree petticoats to shops across multiple cities. Lakshmi hopes to continue expanding her business by sourcing fabric in larger quantities and adding storage space.
This internship report summarizes the author's 45-day internship at Reliance Money in Chennai, India. The report provides background on Reliance Money and describes the author's role as a Business Development Executive working to boost sales at an underperforming franchise location in Adyar. Through assessments of the franchise's visibility, area potential, and sales activities, the author identifies issues like an outdated sign and lack of sales staff. Recommendations include improving signage, hiring more sales executives, and upgrading the trading platform to enhance customer satisfaction. The report concludes the internship provided valuable exposure to corporate target-setting and stress management.
This newsletter is from Raju and Prasad Chartered Accountants. It contains articles on the Financial Resolution and Deposit Insurance Bill, 2017 and an industry review of the banking sector in India. The editorial comments on the proposed bill which aims to create a framework for resolving financial firms in distress through liquidation or other measures, superseding existing laws. It also discusses deposit insurance which may not fully protect depositors. The industry review provides a history of banking in India from ancient times to the present, describing regulatory mechanisms, legislative support, banking networks and reforms over time.
50 years of independence of bangladeshTaniaAkther2
This document discusses women's empowerment and role in Bangladesh's financial sector over the past 50 years since independence. It provides background on empowerment of women and their position after liberation. It then outlines the various financial institutions in Bangladesh, including different types of banks, insurance companies, and non-bank financial institutions. The document also examines women's participation and roles in these financial services historically and currently. It analyzes trends in the stock market, including the number of female investors and findings from a survey of female investors. Overall, the document examines progress and challenges for women in Bangladesh's financial system over the past 50 years.
This paper is a presentation of the concept of rule of law, Dicey's theory of 'Rule of Law', rule of law in true and modern sense and rule of law in Bangladesh. In Bangladesh context I have discussed the provisions for ensuring rule of law in Bangladesh constitution. I also have discussed the provisions of the constitution, which are contrary to the concept of rule of law in Bangladesh. It has been also identified the difficulties of application of rule of law in Bangladesh. Bangladesh is a combination of competitive market, business-friendly environment and cost structure that can give the best returns. Bangladesh offers a well-educated, highly adaptive and industrious workforce with the lowest wages and salaries in the region. Bangladesh is located in the Southern Asia, bordering the Bay of Bengal with the coastline covering 580 km between Burma & India with the land boundaries 4,246 km. The economic position of the country is GDP/PPP (2011 est.): $100 billion; per capita $664, Real growth rate: 6%, Inflation: 11.3%. The Industries are Textiles, Jute, Garments, Tea Processing, Paper Newsprint, Cement, Chemical Fertilizer, Light Engineering, Sugar, Ceramics and Pharmacy. Natural resources are Gas, Timber and Coal. The government type is parliamentary democracy. Capital is Dhaka and there are administrative 7 divisions. Bangladesh seceded from Pakistan in December 1971. The British-era legislation applied in Pakistan after 1947 and post-partition legislation enacted in Pakistan continued to form the basis of Bangladeshi personal status laws, but legal developments since 1972 have been distinct.
Performance evaluation of life insurance companies of BangladeshFara Ul Fath Shawron
Insurance is deemed as an unsought product which consumers actively do not show interest in
buying. Either they are forced to buy the product (in case of vehicles
insurance) or they are to be educated about the importance and advantages of buying it.
Bangladesh, being a third world country, has a very low rate of insurance due to being unaware
about the importance of it. Bangladesh is the most under insured country in the non-life insurance
category, standing to lose as much as 0.8 percent of GDP from natural disasters a year, said Lloyd's
of London, one of the leading insurance market places in the world. To shed a bit
more light into it, Bangladesh had the largest insurance gap among the 43 countries covered in
the report standing at 5.5 Billion USD or in other words, only 2.1% of the total GDP. Per head
insurance premium is only $8 which just states that it is safe to say that maximum people in
Bangladesh don’t possess any kind of insurance. So, the operation of insurance companies in
Bangladesh is a bit critical and tougher because they also have to make people aware about
insurance.
This document is the annual report of D.G. Khan Cement Company Limited for the year 2013. It includes the directors' report which discusses the state of the Pakistani economy and cement industry in 2013. The economy grew at an average of 2.9% due to issues like energy crisis and security issues. The cement industry also saw slow growth of around 4-5% due to low economic activity and energy shortages. The report provides an overview of the company's financial performance and operations for the year.
This newsletter from Raju and Prasad Chartered Accountants provides information on the Indian economy, Union Budget 2018-19, and the insurance sector in India. It contains sections on the editorial comments on budget and growth, an industry review of the insurance sector covering its evolution, types of policies and companies, and current status and challenges. Other sections include a policy watch on indirect and direct tax updates, recent legal verdicts, and a photograph. The newsletter is intended to help readers by providing expert analysis and updates on important financial and economic issues.
Lakshmi was a seamstress who took out small loans from SKS Microfinance to expand her tailoring business. With additional capital from the loans, she was able to buy more sewing machines, hire employees, and outsource work, growing her small business into a thriving operation that employs several people. She now supplies thousands of saree petticoats to shops across multiple cities. Lakshmi hopes to continue expanding her business by sourcing fabric in larger quantities and adding storage space.
This internship report summarizes the author's 45-day internship at Reliance Money in Chennai, India. The report provides background on Reliance Money and describes the author's role as a Business Development Executive working to boost sales at an underperforming franchise location in Adyar. Through assessments of the franchise's visibility, area potential, and sales activities, the author identifies issues like an outdated sign and lack of sales staff. Recommendations include improving signage, hiring more sales executives, and upgrading the trading platform to enhance customer satisfaction. The report concludes the internship provided valuable exposure to corporate target-setting and stress management.
This newsletter from Raju and Prasad Chartered Accountants provides information to readers. The editorial comments discuss whether farm loan waivers are a solution or problem. The industry review section analyzes India's paints industry, covering topics like decorative paints, industrial paints, industry status, and exports. The newsletter also includes an article on Goods and Service Tax written by CA Avinash T Jain. Other sections provide updates on company law, RBI regulations, direct tax laws, SEBI guidelines, and indirect tax due dates and exemptions.
Meezan Bank is the first and largest Islamic commercial bank in Pakistan. It has over 550 branches across the country. The document provides details on Meezan Bank's vision, mission, history, leadership structure, products, and financial performance. It outlines the bank's deposit accounts, services, electronic banking options, consumer and business financing products. Charts show trends in deposits, deposits ratio, corporate assets from 2012-2015.
The document provides information about the upcoming Regional Cost Convention 2016 organized by the Western India Regional Council and Pimpri-Chinchwad-Akurdi Chapter of Cost Accountants. The two-day convention will be held on January 16-17, 2016 in Pune. The theme of the convention is "Make in India through - Cost Competitiveness, Tax Reforms, Ease of Doing Business and Digital India". There will be technical sessions on issues faced by the manufacturing sector in India and reforms needed to boost manufacturing and make 'Make in India' initiative a success.
ITR E FILING PROJECT REPORT TO SPA CAPITALAnkit Rautela
THIS REPORT I HAVE PREPARED WHEN I WAS RESEARCHING TECHNICAL ISSUES OCCUR WHEN ANY ONE FILES IT THROUGH INTERNET, MY FIELD AREA IS WIPRO LIT NEW DELHI.
This document summarizes India's recent demonetization initiative to remove Rs. 500 and Rs. 1000 currency notes from circulation. It discusses how this aims to reduce black money, encourage electronic transactions and formalize the economy. While it has caused short-term hardship, demonetization is expected to increase transparency, widen the tax base and boost savings, investment and long-term growth. The article provides recommendations to ease the transition, such as relaxing banking regulations and expanding digital infrastructure.
HOME TRADE SCAM BY SANJAY AGGARWAL AND KETAN SETHSiddhi Wagh
This document provides information about a group project on financial scams. It includes an index listing different scams such as Coalgate, 2G, and Home Trade. The Home Trade scam is summarized as launching in 2000 based in Navi Mumbai, using celebrity endorsements to promote its trading portal, and swindling around Rs. 600 crores from cooperative banks by claiming to purchase government securities but defaulting on payments. Over 250 scams in India since 1947 have resulted in losses of over Rs. 910 trillion.
FORECAST ANALYSIS ON SOUTH INDIAN BANK LIMITED WITH SPECIFIC REFERENCE TO ITS...VARUN KESAVAN
South Indian Bank Limited (SIB) is a major private sector bank headquartered at Thrissur in Kerala, India. South Indian Bank has 839 branches, 4 service branches, 45 ext. counters and 20 Regional Offices spread across more than 27 states and 3 union territories in India. It has set up 1307 ATMs and 5 Bulk Note Acceptor/Cash Deposit Machines all over India.
1) Corporate scams show a complete failure of corporate governance. To avoid this, companies must strictly follow proper governance systems and regularly rotate auditors.
2) The Satyam scandal highlighted the importance of securities laws and corporate governance in emerging markets. It spurred India to tighten governance norms to prevent future fraud.
3) Weak governance in India includes promoters holding shares through relatives/shell companies, state ownership allowing promoters dominance, and an inability to separate promoter/company interests.
The State Bank of India (SBI) traces its origins back to 1806 with the establishment of the Bank of Calcutta. Over the decades, other presidency banks were established and eventually amalgamated into the Imperial Bank of India in 1921. The government of India took ownership of the Imperial Bank of India in 1955 and renamed it the State Bank of India. Today, SBI is the largest bank in India by assets and has a wide range of banking services both within India and internationally. As a responsible corporate citizen, SBI is actively involved in various corporate social responsibility initiatives through schemes like community service banking and SBI Youth for India fellowship.
The document provides an annual report for Chaitanya India Fin Credit Private Limited for the 2013-2014 fiscal year. It summarizes the company's financial and operational performance including a 64% increase in active clients to 46,000, a 77% increase in loan book to 56.5 crores, a 55% increase in profit after tax to 79.57 lakhs, expansion to 29 branches from 24, and maintenance of high repayment rates at 99.9% with low portfolio at risk. It also discusses the company's risk management strategies, audit and internal controls practices, and human resources initiatives to support its continued growth.
Bharat Hari Singhania is the president of the 125-year-old JK Organization conglomerate with businesses in 100 countries. He has over 44 years of experience managing industries like cement, tires, paper, and hybrid seeds. Singhania has led various JK Group companies for over 5 decades and currently serves as president of JK Paper, JK Laxmi Cement, and chairman of other group entities. In addition to his business roles, he has also been president of the Indian Chamber of Commerce and chairman of the Indian Jute Mills Association.
Cholamandalam Investment and Finance Company Limited (CIFCL) is the financial services arm of the Murugappa Group, operating over 200 branches across India with assets under management over Rs.9000 Crores. The Board of Directors is chaired by Mr. M B N Rao. CIFCL is headquartered in Chennai and aims to expand its branch network and introduce new product lines. At the Annual General Meeting held each July, shareholders vote on ordinary resolutions regarding routine business and special resolutions involving important strategic decisions for the company's growth.
Khushhali Bank is the Pakistani government first major government initiative to bridge the demand for microfinance services. The bank operates on a community-based service delivery mechanism and forms client clusters to reduce transactional costs
The document discusses various banking tools for industry in India, including an overview of ICICI Bank Ltd. It outlines the types of funding tools available such as cash credit, overdraft, and term loans. The funding procedure involves a financial assessment, health check, collateral assessment, and 360 degree feedback. Finally, it notes the importance of properly managing funds for business purposes, financial planning, avoiding fraud, and maintaining discipline.
The document is a project report on rural banking in India submitted by Safina Shaikh. It discusses the history and development of banking in rural India. It provides an overview of the roles played by various entities in providing rural banking and credit such as cooperative banks, commercial banks, regional rural banks, and the Reserve Bank of India. The report also examines various agricultural loan programs and instruments used for rural wealth management.
India financial-inclusion-report-rbi-cmte-cfs070114 efl(2)Dr Lendy Spires
This document is the report of the Committee on Comprehensive Financial Services for Small Businesses and Low Income Households. It contains recommendations to expand access to financial services in India. The report contains 7 sections that address expanding payments networks and savings access, increasing access to affordable credit, universal access to investment products, improving customer protection, and establishing metrics to measure progress. Key recommendations include establishing payments banks, expanding agent banking networks, increasing priority sector lending, and developing a comprehensive monitoring framework to track financial inclusion goals.
The newsletter provides information on the coconut and coir industry in India. It discusses the economic and social significance of coconut cultivation in southern India. It outlines the key government initiatives to promote the industry. The industry contributes Rs. 20,000 crores annually to India's GDP and employs over 10 million people. Coconut products exported include coconut oil, copra, desiccated coconut. Coir is extracted from coconut husks and is used to make products like mats, rugs and geo-textiles. The industry faces challenges of low productivity and need for mechanization and value addition.
This newsletter from Raju and Prasad Chartered Accountants discusses linking Aadhar cards to income tax returns. It notes that a recent finance bill amendment makes providing an Aadhar number compulsory for tax returns filed after July 1, 2017. The newsletter examines arguments for and against the move, noting concerns around privacy but also that the UIDAI claims collected information will remain private. It concludes that the main concern should be ensuring strong cyber security to protect any data held by the government.
This newsletter welcomes readers to the first issue of 2012. It provides summaries of recent business deals and partnerships between US and Indian companies. These include Boeing partnering with BEL, Intel investing in Indian startups, GAIL signing a $20 billion deal with a US natural gas company, and Reliance partnering with DE Shaw on financial services. The newsletter also reports on investments by US companies in India and vice versa, as well as updates on policy changes, personnel appointments, and upcoming trade shows. The president's message emphasizes the need for adaptation, trust, and compassion during times of global economic turmoil.
This newsletter from Raju and Prasad Chartered Accountants provides information to readers. The editorial comments discuss whether farm loan waivers are a solution or problem. The industry review section analyzes India's paints industry, covering topics like decorative paints, industrial paints, industry status, and exports. The newsletter also includes an article on Goods and Service Tax written by CA Avinash T Jain. Other sections provide updates on company law, RBI regulations, direct tax laws, SEBI guidelines, and indirect tax due dates and exemptions.
Meezan Bank is the first and largest Islamic commercial bank in Pakistan. It has over 550 branches across the country. The document provides details on Meezan Bank's vision, mission, history, leadership structure, products, and financial performance. It outlines the bank's deposit accounts, services, electronic banking options, consumer and business financing products. Charts show trends in deposits, deposits ratio, corporate assets from 2012-2015.
The document provides information about the upcoming Regional Cost Convention 2016 organized by the Western India Regional Council and Pimpri-Chinchwad-Akurdi Chapter of Cost Accountants. The two-day convention will be held on January 16-17, 2016 in Pune. The theme of the convention is "Make in India through - Cost Competitiveness, Tax Reforms, Ease of Doing Business and Digital India". There will be technical sessions on issues faced by the manufacturing sector in India and reforms needed to boost manufacturing and make 'Make in India' initiative a success.
ITR E FILING PROJECT REPORT TO SPA CAPITALAnkit Rautela
THIS REPORT I HAVE PREPARED WHEN I WAS RESEARCHING TECHNICAL ISSUES OCCUR WHEN ANY ONE FILES IT THROUGH INTERNET, MY FIELD AREA IS WIPRO LIT NEW DELHI.
This document summarizes India's recent demonetization initiative to remove Rs. 500 and Rs. 1000 currency notes from circulation. It discusses how this aims to reduce black money, encourage electronic transactions and formalize the economy. While it has caused short-term hardship, demonetization is expected to increase transparency, widen the tax base and boost savings, investment and long-term growth. The article provides recommendations to ease the transition, such as relaxing banking regulations and expanding digital infrastructure.
HOME TRADE SCAM BY SANJAY AGGARWAL AND KETAN SETHSiddhi Wagh
This document provides information about a group project on financial scams. It includes an index listing different scams such as Coalgate, 2G, and Home Trade. The Home Trade scam is summarized as launching in 2000 based in Navi Mumbai, using celebrity endorsements to promote its trading portal, and swindling around Rs. 600 crores from cooperative banks by claiming to purchase government securities but defaulting on payments. Over 250 scams in India since 1947 have resulted in losses of over Rs. 910 trillion.
FORECAST ANALYSIS ON SOUTH INDIAN BANK LIMITED WITH SPECIFIC REFERENCE TO ITS...VARUN KESAVAN
South Indian Bank Limited (SIB) is a major private sector bank headquartered at Thrissur in Kerala, India. South Indian Bank has 839 branches, 4 service branches, 45 ext. counters and 20 Regional Offices spread across more than 27 states and 3 union territories in India. It has set up 1307 ATMs and 5 Bulk Note Acceptor/Cash Deposit Machines all over India.
1) Corporate scams show a complete failure of corporate governance. To avoid this, companies must strictly follow proper governance systems and regularly rotate auditors.
2) The Satyam scandal highlighted the importance of securities laws and corporate governance in emerging markets. It spurred India to tighten governance norms to prevent future fraud.
3) Weak governance in India includes promoters holding shares through relatives/shell companies, state ownership allowing promoters dominance, and an inability to separate promoter/company interests.
The State Bank of India (SBI) traces its origins back to 1806 with the establishment of the Bank of Calcutta. Over the decades, other presidency banks were established and eventually amalgamated into the Imperial Bank of India in 1921. The government of India took ownership of the Imperial Bank of India in 1955 and renamed it the State Bank of India. Today, SBI is the largest bank in India by assets and has a wide range of banking services both within India and internationally. As a responsible corporate citizen, SBI is actively involved in various corporate social responsibility initiatives through schemes like community service banking and SBI Youth for India fellowship.
The document provides an annual report for Chaitanya India Fin Credit Private Limited for the 2013-2014 fiscal year. It summarizes the company's financial and operational performance including a 64% increase in active clients to 46,000, a 77% increase in loan book to 56.5 crores, a 55% increase in profit after tax to 79.57 lakhs, expansion to 29 branches from 24, and maintenance of high repayment rates at 99.9% with low portfolio at risk. It also discusses the company's risk management strategies, audit and internal controls practices, and human resources initiatives to support its continued growth.
Bharat Hari Singhania is the president of the 125-year-old JK Organization conglomerate with businesses in 100 countries. He has over 44 years of experience managing industries like cement, tires, paper, and hybrid seeds. Singhania has led various JK Group companies for over 5 decades and currently serves as president of JK Paper, JK Laxmi Cement, and chairman of other group entities. In addition to his business roles, he has also been president of the Indian Chamber of Commerce and chairman of the Indian Jute Mills Association.
Cholamandalam Investment and Finance Company Limited (CIFCL) is the financial services arm of the Murugappa Group, operating over 200 branches across India with assets under management over Rs.9000 Crores. The Board of Directors is chaired by Mr. M B N Rao. CIFCL is headquartered in Chennai and aims to expand its branch network and introduce new product lines. At the Annual General Meeting held each July, shareholders vote on ordinary resolutions regarding routine business and special resolutions involving important strategic decisions for the company's growth.
Khushhali Bank is the Pakistani government first major government initiative to bridge the demand for microfinance services. The bank operates on a community-based service delivery mechanism and forms client clusters to reduce transactional costs
The document discusses various banking tools for industry in India, including an overview of ICICI Bank Ltd. It outlines the types of funding tools available such as cash credit, overdraft, and term loans. The funding procedure involves a financial assessment, health check, collateral assessment, and 360 degree feedback. Finally, it notes the importance of properly managing funds for business purposes, financial planning, avoiding fraud, and maintaining discipline.
The document is a project report on rural banking in India submitted by Safina Shaikh. It discusses the history and development of banking in rural India. It provides an overview of the roles played by various entities in providing rural banking and credit such as cooperative banks, commercial banks, regional rural banks, and the Reserve Bank of India. The report also examines various agricultural loan programs and instruments used for rural wealth management.
India financial-inclusion-report-rbi-cmte-cfs070114 efl(2)Dr Lendy Spires
This document is the report of the Committee on Comprehensive Financial Services for Small Businesses and Low Income Households. It contains recommendations to expand access to financial services in India. The report contains 7 sections that address expanding payments networks and savings access, increasing access to affordable credit, universal access to investment products, improving customer protection, and establishing metrics to measure progress. Key recommendations include establishing payments banks, expanding agent banking networks, increasing priority sector lending, and developing a comprehensive monitoring framework to track financial inclusion goals.
The newsletter provides information on the coconut and coir industry in India. It discusses the economic and social significance of coconut cultivation in southern India. It outlines the key government initiatives to promote the industry. The industry contributes Rs. 20,000 crores annually to India's GDP and employs over 10 million people. Coconut products exported include coconut oil, copra, desiccated coconut. Coir is extracted from coconut husks and is used to make products like mats, rugs and geo-textiles. The industry faces challenges of low productivity and need for mechanization and value addition.
This newsletter from Raju and Prasad Chartered Accountants discusses linking Aadhar cards to income tax returns. It notes that a recent finance bill amendment makes providing an Aadhar number compulsory for tax returns filed after July 1, 2017. The newsletter examines arguments for and against the move, noting concerns around privacy but also that the UIDAI claims collected information will remain private. It concludes that the main concern should be ensuring strong cyber security to protect any data held by the government.
This newsletter welcomes readers to the first issue of 2012. It provides summaries of recent business deals and partnerships between US and Indian companies. These include Boeing partnering with BEL, Intel investing in Indian startups, GAIL signing a $20 billion deal with a US natural gas company, and Reliance partnering with DE Shaw on financial services. The newsletter also reports on investments by US companies in India and vice versa, as well as updates on policy changes, personnel appointments, and upcoming trade shows. The president's message emphasizes the need for adaptation, trust, and compassion during times of global economic turmoil.
The State of Domestic Commerce in Pakistan Study 5 - Retail Marketsidspak
This document summarizes a study on the retail markets in Pakistan. Some key findings include:
1) The retail sector accounts for over 50% of Pakistan's GDP and employs over 25% of the workforce. However, the sector remains fragmented and underdeveloped compared to other South Asian countries.
2) Most retail establishments are small and relatively new, with over 60% unregistered. Competition is intense with many similar stores clustered together. Access to financing is the top constraint reported by retailers looking to expand.
3) Retailers rely heavily on family savings and credit-based transactions to finance their businesses. Formal banking is not common. Most retailers also restrict their businesses to their local communities due to lack of
Think business think india a guide on business laws in indiaVijay Dalmia
The guide titled “Think Business Think India”, the print version of which has been published by CCH, a Wolters Kluwer Business, is a compendium of Indian laws with brief and practical commentary. This book seeks to address the issues as well as concerns that an investor has / may have before establishing commercial presence in India. These issues may pertains to the Indian Judicial system, the Legislative and the Executive organs of Indian’s governance structure, Indian Foreign Trade Policy, Tax Laws, Labour and Industrial Laws, Intellectual Property Laws, and important considerations for expatriates working in India.
The book “Think Business Think India” primarily deals with the following topics:
1. Advantage India
2. Constitutional Framework
3. Competition Policy and Laws
4. Special Schemes for Export Promotion
(SEZs/EOUs/STPs/EHTPs/BTPs)
5. Investment Framework
6. Establishing Presence in India
7. Tax Laws
8. Labour and Industrial Laws
9. Intellectual Property Laws
10. Consumer Protection Law
11. Environment Laws
12. Important Considerations for Expatriates working in India
13. Important Sectors
14. Corporate Governance Framework
A Feasibility Report of doing Blue Pottery business in IndiaACCA Global
This document provides an overview of opportunities for investing in India's pottery industry. It discusses India's growing economy and why it is an attractive place to invest, noting its fast economic growth, vibrant economy, favorable demographics, rising consumption, and balanced markets. It then describes a proposed venture called Artisans Blue Pottery Project, which aims to capitalize on growth opportunities in India's pottery industry by establishing a blue pottery production facility that will employ local artisans. The document analyzes the relevant political, legal, economic, trade, cultural, and business environments to assess factors that could influence the venture's success.
Non-bank financial companies ( NBFCs ) are financial institutions that provide banking services without meeting the legal definition of a bank, i.e. one that does not hold a banking license. These institutions typically are restricted from taking deposits from the public depending on the jurisdiction. Nonetheless, operations of these institutions are often still covered under a country's banking regulations.
This document is the October 2012 edition of MARkezine, the marketing magazine of the School of Inspired Leadership. It contains articles focusing on the fast moving consumer goods (FMCG) industry in India. The lead article examines important growth drivers in the rural FMCG sector and prospects for growth. Another article discusses a case of ambush marketing by Hindustan Unilever. A third article analyzes loyalty among consumers in the FMCG sector. The magazine is edited by students at the School of Inspired Leadership and pays tribute to Dr. Verghese Kurien, who helped transform the lives of farmers through the success of the Amul brand.
Rama Bijapurkar is a renowned Indian management consultant and thought leader known for her insights into India's evolving consumer market and economy. She obtained her MBA from IIM Ahmedabad and has since worked with many large Indian and global companies to help develop business and market strategies. Bijapurkar has authored several bestselling books that provide deep analysis of cultural and social changes shaping consumer behavior in India. She serves on the boards of several major companies and organizations and is a respected voice on balancing tradition with modernization in India's unique economic environment.
Husband and Wife Store is a franchise that offers new techniques and scientific methods to help individuals find life partners and establish strong relationships. The franchise aims to become the largest provider of these services across India through a network of franchise locations. The company believes helping people choose compatible partners can create more harmonious societies and improve lives.
Vibrant Gujarat Summit on Annual Flagship Activity Gujarat SME ManufacturingVibrant Gujarat
Review the growth of manufacturing industry of Gujarat State and provide hand holding to SMEs for the enhancement of business activities in other States and Overseas.
The DS Group (Dharampal Satyapal Group) has been awarded with Leadership in Energy and Environmental Design (LEED) Platinum certification, a recognition to the company’s efforts towards lowering carbon emissions, conserving resources and prioritizing sustainable practice.
https://bit.ly/3tNbHze
This document summarizes the findings of a survey conducted in Pakistan to gauge public perceptions about key economic reforms, particularly in taxation and energy sectors. The survey found:
1) There is a lack of understanding among the public about the importance of taxes for funding infrastructure, social services, and addressing issues like energy shortages.
2) Most respondents viewed Pakistan's taxation system as unfair and non-transparent, and did not think their taxes were being effectively utilized.
3) Pakistan has one of the lowest tax-to-GDP ratios in the world, with a very narrow tax base that fails to tax many sectors of the economy including agriculture and some services.
4) Around 42% of respondents agreed
News letter from Raju and Prasad, April 2015.rajuandprasad
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Edible Nuts and Dry Fruits Sector and Economics of Animal Slaughter
1. <Hyderabad » NewDelhi » Mumbai » Bangalore » Jalgaon » Navi Mumbai » Tirupati >
Raju and Prasad Chartered Accountants
Raju and Prasad Chartered Accountants
June 2017 Volume 4, Issue 4
FOCAL POINT
Newsletter from Raju and Prasad Chartered Accountants
Contact us:
Email : hyderabad@rajuandprasad.com
Website: www.rajuandprasad.com
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Page 1Raju and Prasad Chartered Accountants
Dear Reader,
Our editorial comments for this month are on the Economics
of Animal Slaughter.
This month we have covered ‘Edible Nuts and Dry Fruits Sector’
in our Industry Review.
Please give your views and also send this newsletter to your
friends.
We wish all our readers Eid Mubarak.
Regards
For Raju & Prasad
Chartered Accountants
M Siva Ram Prasad
Partner
3. <Hyderabad » NewDelhi » Mumbai » Bangalore » Jalgaon » Navi Mumbai » Tirupati >
Page 2Raju and Prasad Chartered Accountants
Contents
Contents.............................................................................................................................................................2
Editorial...............................................................................................................................................................3
Economics of Animal Slaughter....................................................................................................................... 3
Industry Review...........................................................................................................................................5
Edible nuts and Dry fruits................................................................................................................................... 5
Background .................................................................................................................................................................................................................... 5
Cashew (Anacardium Occidentale)............................................................................................................................................................. 6
Almonds (Prunus Dulcis, Syn Prunus Amygdalus)......................................................................................................................... 7
Walnuts (Genus Juglans).................................................................................................................................................................................... 8
Pistachios (Pistacia Vera).................................................................................................................................................................................... 9
Dry Fruits......................................................................................................................................................................................................................... 9
Raisins ..............................................................................................................................................................................................................................10
Dates .................................................................................................................................................................................................................................10
Figs......................................................................................................................................................................................................................................10
Apricot ..............................................................................................................................................................................................................................11
Indian scenario of nuts and dry fruits sector...................................................................................................................................11
Issues and Challenges.........................................................................................................................................................................................12
Policy Watch................................................................................................................................................. 14
Company Law ..........................................................................................................................................................14
Issue of duplicate share certificate not required in case of transfer of shares to Investor Education
and Protection Fund (IEPF).............................................................................................................................................................................14
RBI .................................................................................................................................................................................14
Amendment to Section 24 and 56 of Banking Regulation Act, 1949 (Maintenance of Statutory
Liquidity Ratio)..........................................................................................................................................................................................................14
Introduction of Legal Entity Identifier (LEI) for Over-the-Counter (OTC) derivatives market................14
Direct Tax...................................................................................................................................................................15
Extension of date for filing Form 61A under rule 114E under Income Tax Rules, 1962..............................15
SEBI...............................................................................................................................................................................15
Digital mode of payment of fees, penalties, remittances etc, and online registration mechanism for
entities as mutual funds....................................................................................................................................................................................15
Verdicts............................................................................................................................................................ 16
Direct Taxation .......................................................................................................................................................16
Lump sum of royalty paid by a newly set up company to a foreign company to be treated as capital
expenditure..................................................................................................................................................................................................................16
PAN of individuals without Aadhar Card shall not be treated invalid until the judgment is passed by
the special constitution bench......................................................................................................................................................................17
Search and seizure on the accounts of a person on whom the search warrant is not issued but is
somehow connected or is suspected to be connected to the person on whom the search warrant is
issued also comes under the ambit of section 132(1) .............................................................................................................17
►►► PHOTOGRAPH OF THE MONTH ..................................................................................... 18
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Page 3Raju and Prasad Chartered Accountants
Editorial
Economics of Animal Slaughter
In the last week of May, Government of India
has restricted the slaughtering of cattle under
Prevention of Cruelty Towards Animals Rules
2017. The restriction is on sale of cattle
including cows, calves, buffaloes, bullocks,
camels etc. These cattle are basically the
working animals or milch animals for
agriculturists including small farmers. Farmers,
when the animals are unproductive they
replace them with new animals either as milch
animal or work animal. It is the normal
practice all over India. Specially it is difficult to
maintain the unproductive animal for small
farmers. In case of droughts farmers sell the
animal when they are unable to feed them.
There are number of states already restricting
the sale of animals. Certificate should be
submitted that either the animal cannot breed
any more or cannot yield milk or similar
certificate to state that the animal is not
sustainable. A declaration is also required
stating that the animal is not sold for
5. <Hyderabad » NewDelhi » Mumbai » Bangalore » Jalgaon » Navi Mumbai » Tirupati >
Page 4Raju and Prasad Chartered Accountants
slaughter. There is no such ban in states of
Kerala, Bengal and some north eastern states
on animal slaughter. Certain states have
imposed ban on cow slaughter only.
The present ban imposed by Government of
India triggers issues like, whether state’s right
on this subject is encroached upon by Union
Government? Whether the ban will extend to
other animals like goats and sheep, chicken
and ducks etc? Whether this is challenging the
basic eating habits of people? The issue is
before courts.
But what we discuss here is that a rural artisan
based meat and leather industry will be
effected by this ban. The meat industry and its
major by-product leather industry play a major
role in the socio economic life in the country.
India has the second largest population of
cattle in the world consisting 20% of cows and
buffaloes and 11% of goats and sheep and is
also the second largest producer of foot wear
in the world. India produces 2.5 billion Sqft. of
leather which accounts for 13% of world
production. The industry is the eighth major
exchange earner with USD 6494.8 million in
2014-15 (as per DGCIS). The industry employs
2.5 million people. This is in addition to buffalo
meat exports of 3933.80 million USD of in 2016-
17 (as per APEDA).
Another dimension to this slaughter is that the
animal is slaughtered not only for meat, many
products are made out of the animals. Gelatin
is derived from collagen which is used for
making outer cover for medicinal capsules,
the gut is used as string for tennis, badminton
and squash rackets, horns are used in making
buttons. Blood is used in making anti-anaemic
syrups. Bone meal is used in sugar processing,
the hides and skins are used in manufacturing
foot wear without which the nation cannot
walk. Entire leather industry is dependent on
cattle wealth.
In fact steps should be taken to improve the
livestock and their health conditions. If the
unproductive animals can’t be maintained by
small farmers they will become stray animals in
rural areas which will be target for wild animals
and is unsafe for people. If they die in normal
conditions disposal of the carcasses become
an environmental issue.
While the intension of the government is not to
allow indiscriminate slaughter of animals, care
should be taken to see that economic activity
is not slowed down and the resultant loss of
jobs be avoided. It should not give scope to
foreign companies to step into the shoes of the
Indian industry whether it is food processing or
leather products.
-M SIVA RAM PRASAD
While the intension of the government is not
to allow indiscriminate slaughter of animals,
care should be taken to see that economic
activity is not slowed down and the resultant
loss of jobs be avoided.
It should not give scope to foreign companies
to step into the shoes of the Indian industry
whether it is food processing or leather
products.
6. <Hyderabad » NewDelhi » Mumbai » Bangalore » Jalgaon » Navi Mumbai » Tirupati >
Page 5Raju and Prasad Chartered Accountants
Industry Review
Edible nuts and Dry fruits
Background
What is commercially known as dry fruits are
edible nuts which are dried. The popular
varieties in India are cashew, almonds,
pistachio and walnuts. Though peanuts and
coconuts are also called nuts, these come
under the category of oil seeds. The Brazil
nuts and chest nuts are not harvested in
large quantities in India. Areca nuts or betel
nuts though categorized as edible nuts they
are used more as
ingredients in certain foods and preparation
of Indian medicines. India is the largest
producer of areca nuts.
Dry fruits are fruits but dehydrated, popular
among them in India are raisins (dried
grapes), anjeer (dried figs), khajoor (dried
dates), and apricot (dried apricot fruits). The
other varieties of dried fruits available in
India are berries, both blue and plain, pine
apple slices etc.
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Page 6Raju and Prasad Chartered Accountants
The edible nuts are extracted from the fruits
after cracking the kernels. Later the moisture
content is removed by drying in natural
conditions or in dryers. Similarly fruits are also
dried in a process to dehydrate them.
The edible nuts are a combination of
carbohydrates, proteins and fats. Highly
nutrient and recommended to consume
due to the fiber content and rich calories but
are supposed to be consumed in
reasonable doses.
Cashew (Anacardium Occidentale)
Cashew is a fruit known to India through
Portuguese. The Brazilian fruit is popular and
grown in this country over five centuries.
Today in India it is the maximum consumed
edible nut. The country’s share in the global
production of cashew is 23%.
The plant is cultivated in Andhra Pradesh,
Maharashtra, Orissa, Tamil Nadu, Karnataka,
Kerala, Goa and Bengal in order of area of
cultivation and Maharashtra stands first in
production as well as productivity.
The crop is grown in red and laterite coastal
sandy soils and the area wise India occupies
the first place in the world in its cultivation.
India also imports cashew and exports its
own production.
Area, Production and Productivity of Cashew nut in India
A-Area in '000 Ha, P-Production in '000 MT, APY-Average Productivity in Kg per Hectare
State
2014-15 2013-14
A P APY A P APY
Kerala 84.53 80 946 84.93 80.12 910
Karnataka 124.71 80.5 645 124.11 80.61 750
Goa 58.17 32 550 57.97 32.35 780
Maharashtra 186.2 235 1262 184.2 236.2 1317
Tamil Nadu 140.42 67 478 139.42 67.39 669
Andhra Pradesh 185.45 100 539 184.95 100.42 646
Orissa 180.41 85.5 474 166.91 85.71 679
West Bengal 11.36 13 1096 --- --- ---
Others 56.15 32.42 658 65.205 53.76 735
Total 1027.2 725.42 706 1007.695 736.56 782
Source: Directorate of Cashew nut and Cocoa Development
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Page 7Raju and Prasad Chartered Accountants
Cashew nuts if consumed moderately have
benefits for the body, they are rich in mono
unsaturated fats and help in maintaining
good cholesterol (HDL). These nuts give
instant energy and prevent formation of
gallbladder stones. The fiber content is less
compared to the other edible nuts.
Cashewfruit juices are also consumed as fruit
juice. Cashew bark can be used as a tannin
in leather processing. The gum excreted
from the stem can be used as a binding
material. Cashew kernel oil or cashew nut
shell liquid (oil) CNSL is used in
manufacturing paints, electrical insulator
varnishes etc. The oil which is economic
variety of liquid crystalline polyester and the
derivatives are used in lamination industry.
Almonds (Prunus Dulcis, Syn Prunus
Amygdalus)
Almonds are considered as king of nuts. The
fiber contents and nutritious values make
almonds important in the food consumption
of India. But it is only in the reach of upper
middle class and rich of the country.
Almonds are originated from mediteranian
region and is grown and produced
maximum in USA. It is also grown in Spain,
Italy, Morocco, Algeria, Greece and Middle
East countries like Iran, Afghanistan etc.
In India the plant is grown in Jammu and
Kashmir, Himachal Pradesh, and
Uttarakhand. There are different varieties of
almonds considering their taste and color.
There is demand and supply gap for
almonds and the country imports to meet
the gap, mainly from USA. The nuts are
consumed directly or used in
confectioneries. Almond oil is used in
pharmaceuticals and cosmetic
preparations.
Almonds can grow in loamy soil and require
drained soils. The trees can tolerate
moderate temperatures ranging from 30 to
35 degrees centigrade.
Almonds are rich in fiber, magnesium and
potassium besides mono unsaturated fats
Table showing India’s production of almonds
Production(000 Tonnes)
2014-15
S.No. State Production Share
(%)
1 Jammu &
Kashmir
8.98 90.89
2 Himachal
Pradesh
0.9 9.11
Total 9.88 100
Source: National Horticulture Board (NHB)
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Page 8Raju and Prasad Chartered Accountants
and anti-oxidants which help in heart
functioning and preventing gallbladder
stones.
Walnuts (Genus Juglans)
Walnut is another fibrous variety of nut which
is believed to be originated from Iran and
spread to other countries like Spain, Italy,
France, Southern parts of erstwhile USSR and
China. The production of walnuts in India is
limited to Jammu and Kashmir, Himachal
Pradesh and Uttarakhand. J&K is the major
producer and other states’ contribution is
insignificant. The crop needs irrigation
facilities in the event of inadequate rains but
it is drought tolerant. The plant needs
sufficient sun light.
Walnuts can be grown in loamy or clay
loamy well drained soils. These are grown in
moderate temperatures or in cool climate
with a rainfall of 800 mm in a year.
There is demand and supply gap in India,
the demand is met out of imports. China and
USA are the two countries producing
maximum quantities of walnut. In spite of the
demand and supply gap, India exports its
produce to Middle East and European
countries.
Top 14 importers of Walnuts from India (Qty in Metric Tonnes & Value in USD)
2014-15 2015-16 2016-17
Country Qty Value Qty Value Qty Value
France 187 11,75,782 487 13,68,259 533.5 13,28,304
United Kingdom 392.5 31,73,390 452.01 25,96,289 261.88 12,17,929
United Arab Emirates 71.25 22,163 0.19 549 346.38 9,97,157
Netherland 254.66 22,93,037 424.5 19,86,807 156 8,53,582
Nepal 97.65 4,48,075 217.37 6,41,818 246.95 7,80,548
Germany 108.57 9,22,765 511.56 30,71,478 141.56 7,02,180
Sweden 37 3,13,296 51.5 4,85,832 52 3,79,795
Belgium 40 3,25,925 105.5 5,97,010 71.5 3,51,817
Egypt Arab Republic 241 26,50,521 252.6 19,58,319 46 3,38,093
Spain 31.5 3,13,810 238 11,77,496 84 2,84,828
United States 230.01 28,01,332 178.69 17,51,130 34.5 2,41,450
Kuwait 54 2,87,947 22 2,13,192 99 2,14,382
Denmark 13.5 1,10,521 26 1,78,983 25.9 1,77,242
Australia 81 7,99,621 100 3,40,181 24 1,42,561
Source: DGCIS Annual Report
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Page 9Raju and Prasad Chartered Accountants
Nutrition and medicinal values of walnuts
are immense. The nuts contain alpha linoleic
acid and Vitamin E which have positive
effect on heart. The nuts are cholesterol free
and contain Vitamin B which is helpful for
nervous systems.
Pistachios (Pistacia Vera)
Another deciduous tree, pistachio fruits are
also very popular in India. The origin of the
fruit is said to be from Jordan or Western Asia
which is spread to many countries in
mediteranian regions as well as West.
The tree can survive in dry climate without
sufficient rainfall and can achieve the
height of 25 to 30 feet. The tree is normally
grown on hilly slopes and cannot tolerate
excess water and humid conditions. The fruit
grows in bunches and gets dried and opens
up in natural conditions. The kernel is thin
unlike other dry fruit kernels. The belief is that
the hearing of the cracking sounds of the
fruits brings luck. It is available in yellow and
green colours. It is grown mostly in Iran, Syria,
Turkey, China and USA. The pistachios are
consumed directly. Salted pistachios are
also popular. The nuts are used in bakery
items, confectionaries, ice creams, candies
etc.
The tree can be grown in loamy sandy soils
with a temperature beyond 360 C and cold
winters.
The nuts have high calorific value as food
containing mono and poly unsaturated fats
which are good for health. The nuts are rich
in B6, Vitamin A, Calcium, Potassium, zinc
and iron.
The gum from the tree is used in making
blood clotting agents. This nut like other nuts
is fibrous and believed to have
aphrodisiacal effects on the consumers.
Dry Fruits
Dry fruits are also edible fruits which are
dehydrated to remove the moisture content
and meant for preservation for longer
duration to consume either directly or
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Page 10Raju and Prasad Chartered Accountants
making confectionaries. Popular varieties of
such fruits are raisins, dates, figs and apricots.
Raisins
Raisins are dried or dehydrated grapes. The
color of raisins depends on the color of the
grapes. They are in golden color, black or
green. They are with or without
seeds. The word raisins is of
French origin though
the fruit is of Persian
origin. Raisins are also
made out of blue berries.
The fruit after drying has
concentrated sugar content and give
instant energy. The fruit contains Vitamin B,
Calcium, iron and potassium. The fruit is an
anti-oxidant, it is cholesterol free with low
sodium content. These properties are blood
purifiers and help to fight osteoporosis in
females. This high nutrient and fibrous fruit
fights constipation, good for teeth and gums
and also helpful in fighting macular
degeneration in eyes.
Dates
The date fruits are derived from date palm
tree. The tree is of Persian origin and the
word date is from Greek word Daktua. The
fruits are grown in bunches on the tree.
The tree can be grown in sandy loamy soils
with less humid conditions. The trees need
sunshine and does not require lot of
irrigation. During flowering and fruit
formation, rain should be avoided. Dates
are being cultivated commercially in
Gujarat, Rajasthan and Tamil Nadu.
The fruit is spread from Middle East to Spain,
Mexico, USA and mediteranian
regions.
Fruits are dried and
dehydrated for
consuming over long
time. Dates are
consumed as regular food in
Middle East. It is rich in potassium content
and low in fat, cholesterol and sodium,
highly fibrous and nutritious.
Figs
Fig tree is historical and Biblical. The word fig
is of French origin. The fruit is of Turkish origin.
The tree is from genus ficus family and the
fruit is also known as ficus in Latin. The tree
travelled from Turkey to Greece, Spain, and
USA. The fruit is a staple food in certain
countries like Egypt and Greece. The fruits
are dried and cut into slices. The fruit
contains potassium, calcium, vitamins as
well as minerals.
12. <Hyderabad » NewDelhi » Mumbai » Bangalore » Jalgaon » Navi Mumbai » Tirupati >
Page 11Raju and Prasad Chartered Accountants
Apricot
The fruit is orange in color. Its origin is from
Asia and its cultivation in China is nearly thirty
centuries old. The fruit’s botanical name
‘Prunus Armenaica’ is derived after it is
grown in Armenia. It is grown in Spain and
Greece. In India it is cultivated in Jammu
and Kashmir and Himachal Pradesh. The
fruits are dried and sliced. They can be
consumed directly or in combination of food
preparations like puddings, cakes, ice
creams etc. Apricot kernel oil is used in
preparation of balms, lotions, creams and
other cosmetics. The oil can be directly
applied to skin for dry skin conditions.
Apricots are rich in vitamin A. The presence
of anti-oxidant lycopene, Phyto chemicals
like carotenoids help in reducing the heart
diseases. This fibrous fruit also contains
calcium and potassium.
Indian scenario of nuts and dry
fruits sector
This sector in India has been growing in good
volume in the recent times.
The demand for dry fruits in India is
highest in the festive seasons as they are
gifted to friends, neighbours on festivals
and other special occasions. The other
reasons for dry fruits having good
demand in India are its health benefits,
growing health awareness, increasing
purchase power and change in life style.
A good percentage of dry fruits are
consumed by the food processing
industries.
Cashew in India provides sustainable
employment opportunities to 1.5 million
people in processing and agrarian
sector, especially for women.
13. <Hyderabad » NewDelhi » Mumbai » Bangalore » Jalgaon » Navi Mumbai » Tirupati >
Page 12Raju and Prasad Chartered Accountants
The per capita consumption of dry fruits
in India is as low as 150 gm per annum
compared 1.8 kg in USA.
Consumption pattern of dry fruits in India
is in the sequence of Cashews first then
almonds, walnuts and then pistachios.
There is a healthy growth of 10% CAGR in
Nuts and Dry Fruits industry in volume
terms in India. The present market size is
Rs. 15000 crores and is expected to
double by 2020.
The country earns foreign exchange
through export of cashews Rs. 5168
crores, walnuts Rs. 55 crores and raisins Rs.
269 crores (as per APEDA). Besides these
India also export apricots, figs and dates.
Issues and Challenges
The nuts and dry fruit sector faces few
challenges that are similar to those faced by
other agricultural products and some in
addition to them which are all mentioned
below:
There is no serious effort in developing
farming of these crops and marketing the
produce except in case of cashews.
Wherever soil conditions and climatic
conditions suit the crop, growing of these
crops should be propagated to increase
the area under cultivation for all major
edible nuts. Date palms can be grown
even in a backyard in many regions in
the country. The farming should go
beyond its traditional areas.
Replanting and rejuvenation of the old
plants is required like in any other
plantation crops with high yielding
varieties. The agriculture extension
services for nuts and fruits are to be
intensified.
Educating the farmers in hygienic
handling of nuts in processing is needed.
Grading, processing, storage and
packaging requires modern methods
and facilities at par with international
standards.
14. <Hyderabad » NewDelhi » Mumbai » Bangalore » Jalgaon » Navi Mumbai » Tirupati >
Page 13Raju and Prasad Chartered Accountants
Like any other agriculture and plantation
crops, this sector also faces pests and
diseases besides uncertain weather
conditions.
There is need for developing certified
nurseries for plants and seeds.
Organised marketing and post-harvest
infrastructure are required.
The nuts and dry fruits industry has
approached government of India for
exempting them under GST like other
fresh fruits.
So far the fruit crops that produce edible
nuts are not the thrust areas for
development, in spite of many schemes like
area expansion in integrated project mode,
productivity enhancement of existing
orchards etc.
The working group on horticulture for 12th
plan recommended that dates, walnuts
almonds are to be included in the ‘Focus
Crops’. If thrust is given to the sector for
integrated development the demand and
supply gap can be met and imports can be
avoided.
- Team at Raju and Prasad
15. <Hyderabad » New Delhi » Mumbai » Bangalore » Jalgaon » Navi Mumbai » Tirupati >
Page 14Raju and Prasad Chartered Accountants
Policy Watch
Company Law
Issue of duplicate share certificate
not required in case of transfer of
shares to Investor Education and
Protection Fund (IEPF)
Ministry of Corporate Affairs vide circular no.
07/2017 dated 5th June, 2017 has clarified
that in case where shares are transferred to
IEPF under section 124(6) of the Companies
Act, 2013 the company need not issue
duplicate shares and as transfer takes place
by operation of law the procedure followed
for transmission of shares shall be followed in
such cases.
http://www.mca.gov.in/Ministry/pdf/IEPFGcir
cular07_05062017.pdf
RBI
Amendment to Section 24 and 56 of
Banking Regulation Act, 1949
(Maintenance of Statutory Liquidity
Ratio)
The Reserve Bank of India vide notification
no. DBR.No.Ret.BC.71/12.02.001/2016-17
dated 7th June, 2107 has decided to reduce
the Statutory Liquidity Ratio of commercial
banks, primary (urban) co-operative banks,
state co-operative banks and central co-
operative banks from 20.5% of their net
demand and time liabilities to 20% with
effect from 24th June, 2017 as announced in
the second Bi-Monthly Monetary Policy
Statement 2017-18.
https://rbidocs.rbi.org.in/rdocs/notification/P
DFs/NOTI3187B520C9414C1483293DFD1F3FDB
FA522.PDF
Introduction of Legal Entity Identifier
(LEI) for Over-the-Counter (OTC)
derivatives market
RBI vide notification no. FMRD.FMID
No.14/11.01.007/2016-17 dated 1st June,
2017 has decided to allot Legal Entity
Identifier code which is a 20 character
unique identity code for all the participants
16. <Hyderabad » NewDelhi » Mumbai » Bangalore » Jalgaon » Navi Mumbai » Tirupati >
Page 15Raju and Prasad Chartered Accountants
of the OTC markets. This is to improve the
quality and accuracy of financial data
systems for better risk management. The
participants can obtain the LEI from Legal
Entity Identifier India Limited (LEIL) before the
specified time lines. The entities without LEI
will not be eligible to participate in the OTC
derivatives market after the specified dates.
https://rbidocs.rbi.org.in/rdocs/notification/P
DFs/NOTI3143399AEE12E684FCF9FEEA7E03E0E
9064.PDF
Rationalisation of risk weights and
Loans to Value (LTV) ratios in case of
individual housing loans
RBI vide notification no.
DBR.BP.BC.No.72/08.12.015/2016-17 dated
7th June, 2017 has reduced the risk weights
and standard asset provisioning rate for
individual housing loans sanctioned after 7th
June, 2017 and the rates shall be as follows:
Outstanding
loan
LTV
ratio
(%)
Risk
Weight
(%)
Standard
Asset
Provision
(%)
Up to Rs.30
lakh
≤ 80 35
0.25
> 80
and ≤
90
50
Above Rs.30
lakh and up
to Rs.75 lakh
≤ 80 35
Above Rs.75
lakh
≤ 75 50
https://rbidocs.rbi.org.in/rdocs/notification/P
DFs/NOTI3171E66547E9D0E49B4B616A8509EF8
4872.PDF
Direct Tax
Extension of date for filing Form 61A
under rule 114E under Income Tax
Rules, 1962
The Central Board of Direct Taxes vide its
notification dated 31st May, 2017 has
extended the date of furnishing the
statement of financial transactions (in form
61A) under rule 114E for the Assessment Year
2017-18 from 31st May, 2017 to 30th June,
2017.
SEBI
Digital mode of payment of fees,
penalties, remittances etc, and
online registration mechanism for
entities as mutual funds
SEBI vide notification no.
SEBI/HO/IMD/DF3/CIR/P/2017/52 has
decided to operationalise SEBI Intermediary
Portal (https://siportal.sebi.gov.in) for the
entities to submit their mutual fund
registration applications online which
includes online application for registration,
processing of application, grant of in-
principal approval, grant of final registration
online. Further SEBI vide notification no.
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Page 16Raju and Prasad Chartered Accountants
SEBI/HO/GSD/T&A/CIR/P/2017/42 has
notified that all the registered intermediaries
and other entities making payment to SEBI
by way of fees, penalties, remittance or
other payments by electronic mode
(RTGS/NEFT/IMPS) shall provide the
information on such payments in the
following format to their respective
departments and to the Treasury &
Accounts division at tad@sebi.gov.in.
Date Dept.
of SEBI
Name of
Intermediary/
other entity
Type of
intermediary
SEBI
registration
no. (if any)
Purpose of
payment
Bank details and
a/c no. from
which the
remittance was
made
UTR
No.
http://www.sebi.gov.in/legal/circulars/jun-2017/online-registration-mechanism-for-mutual-
funds_35007.html
http://www.sebi.gov.in/legal/circulars/may-2017/digital-mode-of-payment_34885.html
Verdicts
Direct Taxation
Lump sum of royalty paid by a newly
set up company to a foreign company
to be treated as capital expenditure
-vide the decision of Supreme court of India
vide Honda Siel Cars India Ltd. Vs.
Commissioner of Income Tax
The honourable Supreme Court of India vide
Honda Siel Cars India Ltd. Vs. Commissioner of
Income Tax held that where a new company
is set up with technical know-how from a
foreign company, the lump sum of royalty
paid to the foreign company towards the
technical know-how shall be treated as a
capital expenditure and not as revenue
expenditure.
https://www.taxmann.com/filecontent.aspx?
Page=CASELAWS&multipage=false&id=10101
18. <Hyderabad » NewDelhi » Mumbai » Bangalore » Jalgaon » Navi Mumbai » Tirupati >
Page 17Raju and Prasad Chartered Accountants
0000000175601&isxml=Y&search=&tophead=tr
ue&tophead=true
PAN of individuals without Aadhar
Card shall not be treated invalid
until the judgment is passed by the
special constitution bench
-vide the decision of the Supreme Court of
India vide Binoy Viswan Vs. Union of India.
The Supreme Court of India vide Binoy Viswan
Vs. Union of India held that the PAN of
Individuals who do not possess an Aadhar
Card shall not be made invalid under section
132AA(2) until the constitution bench decides
on it. However it was also clarified that in case
of individuals who are already enrolled and
have an Aadhar Card, it is mandatory to link
their Aadhar with PAN and quote their Aadhar
number or enrollment number in their IT
Returns.
https://www.taxmann.com/filecontent.aspx?
Page=CASELAWS&id=101010000000175602&is
xml=Y&search=&tophead=true&tophead=true
Search and seizure on the accounts
of a person on whom the search
warrant is not issued but is somehow
connected or is suspected to be
connected to the person on whom
the search warrant is issued also
comes under the ambit of section
132(1)
-vide the decision of the High Court of Delhi
vide Strategic Credit Capital (P.) Ltd. Vs.
Ratnakar Bank Ltd
The High Court of Delhi vide Strategic Credit
Capital (P.) Ltd. Vs. Ratnakar Bank Ltd held
that in case where a search warrant is passed
against a person under section 132(1), the
search can not only be conducted on him but
also on the accounts of another person(s)
whom the department suspects to be
involved in a financial transaction with the
former person and where there is an
undisclosed income from such transaction by
him (former person).
https://www.taxmann.com/filecontent.aspx?
Page=CASELAWS&id=101010000000175476&is
xml=Y&search=&tophead=true&tophead=true
Disclaimer
Information in this Newsletter, charts, articles,
or any other statements regarding market or
any other financial information, is obtained
from the sources, which we feel reliable. We
do not warrant or guarantee the timeliness or
accuracy of the information. The reader shall
not take any decision based on the facts or
figures of the newsletter without professional
advice.
19. <<Hyderabad»NewDelhi»Mumbai»Bangalore»Jalgaon»Navi Mumbai >>
Page 18Raju and Prasad Chartered Accountants
►►► PHOTOGRAPH OF THE MONTH
Pelican family in their nest at Ranganathittu Bird Sanctury
- Clicked by M Siva Ram Prasad
Please visit http://www.rajuandprasad.com/newsletter.php for earlier issues