2. Samsung raises 2010 smartphone sales target JK Shin, head of Samsung's Mobile Communications division, was quoted as saying at the IFA trade show in Berlin that its 2010 smartphone sales would be far higher than its original target of 18 million units, due to the popularity of its Android-based Galaxy S model.
3. It expects to sell upto 25 million phones this year. Acoording to YH Lee, head of marketing at Samsung Mobile, Galaxy S is definitely opening the smartphone sector for Samsung Mobile ... It's overperforming our expectation. Samsung, a laggard in the booming smartphone market, does not plan to introduce new models to replace Galaxy S during the hot holiday season later this year, hoping for strong sales of the model to continue.
4. DIRECT TAX CODE POSES A THREAT TO NRI’S. The new direct taxes code could bring a large number of global Indians under the tax net as it does away with a provision that allowed individuals to escape tax in any country citing double tax avoidance. According to the new legislation, an individual shall be resident in India in any financial year if he is in the country for more than 59 days in that year and has been in India for more 365 days in the four preceding financial years.
5. The new code is expected to come into effect from April 1, 2012. A phrase “being outside India” in the existing income tax law exempted individuals who stay outside the country for six months from paying taxes. This was prone to misuse and allowed individuals to escape tax in any country. They will now have to restrict their stay to less than 60 or be in danger of becoming tax residents.
6. Hike in visa fees for professionals, likely to hit Indian IT companies the most, will be settled ‘amicably’. The proposed fee hike for companies employing more than half of its workers on foreign working visas has been vehemently opposed by Indian IT companies body Nasscom and several US business groups including the US-India Business Council. As per the US Border Security bill, companies employing less than half of its workers locally will have to pay an additional $ 2000 on H1B and L1 visas. Amicable solution to visa fee row soon: Commerce Secy
7. Nasscom has said the new requirement would jack up costs and hit competitiveness of Indian IT firms based in the US most of which have more than half of its workforce from India. It has estimated that the impact on Indian firms could be as high as $ 200-250 million dollars per year.
8. Bankers, retailers seek fee cut in debit card processing DEBIT card acceptance could see explosive growth if RBI accepts a recommendation that banks cut fees for debit card payments. In the same way, fees are withdrawn for bank customers who withdraw cash from third-party ATMs. Retailers and a section of the banking industry are keen on the reduction of fees which will increase the utilisation of debit cards.
9. The suggestions if taken will increase acceptance and usage of debit cards dramatically and bring down the relevance of cash in the system. Retailers say this will bring a revolution in payments in India and would increase efficiencies in currency management. Former RBI governor YV Reddy has said the recommendations would help the central bank bring down currency management costs and bring in an effective cashless payment system for the country.
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11. Know banking codes and getyourself heard Bank customers can get themselves heard and their grievances settled if they know the banking service codes. A little bit of awareness about the service level of banks mandated by the Reserve Bank of India can help you take the bank to task. Here are a few common problems faced by bank customers and how you can find a solution to it.
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14. UNCOUTH RECOVERY AGENTS RBI had taken measures to regulate the conduct of recovery agents. The sad part is that even genuine customer can be target of untimely visits and abusive phone calls by the recovery agents. Sol:- 1) Bank will not initiate the recovery proceedings without informing the borrower in writing. 2) The agents are supposed to contact the customer at a place of his or her choice and are duty bound to interact in a ‘civil manner’.
