Story of the week

The Great Indian Debate Continues: Demonetisation

With fishermen, farmers , vegetable sellers, shopkeepers, taxi drivers,
truckers and many others affected by loss of livelihood, many other
citizens have expressed their willingness to endure this short-term pain. It
has clearly caused considerable inconvenience and the shortage of cash
has disrupted business in the cash-based informal sector. The long-term
objective was to cleanse the system of corruption, tax evasion and the
generation of black income, which currently seems too farfetched for a
cash strained economy.
Read more
http://www.livemint.com/Opinion/cA5tkx4L7E1MMkP8quR6xJ/Demonetisati
on-The-good-the-bad-and-the-ugly.html
The week that was
US to quit TPP
Donald Trump ,the new President-elect has announced that the United
Statees will quit the Trans-Pacific Partnership (TPP) trade deal on his first
day in the White House. The TPP provides a Free Trade Area and the trade
deal was signed by 12 countries which account for 40% of global trade.
The deal aims to liberalise trade in nearly all goods and services by
removing tariff and non-tariff barriers between trade deal partners.
Read more: http://www.bbc.com/news/world-us-canada-38059623
Airtel Bank: First Payments Bank
Airtel Bank or the Airtel Payments Bank Limited became Indias first
payments bank to launch live banking services. The pilot phase of the
Airtel bank was launched in Rajasthan and aims at testing the systems
and processes before a pan Indian launch. The bank will be accepting
deposits below Rs 1 lakh, though it is ordained against performing lending
activities. On deposits in savings accounts, the interest provided will be
7.25% per annum.
Read more at: http://www.financialexpress.com/industry/bankingfinance/airtel-launches-indias-first-payment-bank-with-massive-7-25interest-on-savings-accounts/453715/
Safegaurd Duty on Steel imports
The Government has decided to impose safeguard duty on import of
certain steel products to protect domestic players from cheaper imports. It
was imposed on steel products like hot rolled flat sheets and plates of
alloy or non-alloy steel. The duty rate will be established after deducting

value of goods and the anti-dumping duty payable when import is below
$504 per tonne. The duty would be 10% in the first year and will be
reduced to 8% by 2018 and to 6% by 2019.
Read more:
http://www.livemint.com/Industry/bvAREpbImOab2Vadec8ekJ/Govt-said-tomull-extending-steelimport-safeguard-duty-to-2.html
Pankaj Patel : FICCI President for 2017
Pankaj Patel, elected as the President of Federation of Indian Chambers of
Commerce and Industry (FICCI) for the year 2017 will take over after
incumbent in December 2016. At present Pankaj Patel is Chief Managing
Director of Zydus Cadila. FICCI , a non-governmental and non-profit
organization ,is the largest and oldest apex business organization in India.
Read
more:http://www.livemint.com/Companies/AIADMNdgUiOKcVx6YHAXZO/Pa
nkaj-Patel-elected-as-Ficci-president-for-2017.html
What a Strategy
SEBI to relax laws for Angel Investors
The Securities and Exchange Board of India (SEBI) has relaxed the norms
for angel investors to invest instart-ups. SEBI in its meeting decided to
restructure the SEBI (Alternative Investment Funds) Regulations, 2012.
Angel Funds can now invest in start-ups incorporated within 5 years
instead 3 years. The minimum investment amount by an angel fund has
been reduced to Rs. 25 lakh from earlier an earlier amount of Rs. 50 lakh.
Read more : http://economictimes.indiatimes.com/small-biz/money/sebiamends-angel-fund-regulations-permits-200-investors-to-be-in-onescheme/articleshow/55581380.cms
Oracle buys Dyn
Oracle, best known for selling business software to large companies has
acquired Dyn, best known for providing domain name system (DNS)
services which essentially is an address books for the internet. Oracle is in
the midst of reorganising as it wants to become a cloud computing
company that can compete with the Amazon and Google in market space.
Thus, the acquisition of Dyn seems to be a part of a well laid plan
Read more: https://www.wired.com/2016/11/oracle-just-bought-dyncompany-brought-internet/
Novartis buys Selexys

Novartis is trying to expand its blood disease medicine portfolio and has
acquired Selexys, the developer of a treatment for sickle cell disease, for a
whooping amount of $665 million. It is a step to develop its haematology
drug base to treat rare and difficult to cure diseases. Sickle cell disease,
an inherited red blood cell disorder mostly affects people of Africa,
Caribbean, Middle Eastern and Asian descent.
Read more : http://www.the-scientist.com/?
articles.view/articleNo/47581/title/Novartis-Buys-US-Drugmaker-for-Up-To-665-Million/
Straight from the Horses mouth
Donald Trump on TPP
On trade, I am going to issue a notification of intent to withdraw from
TPP, a potential disaster for our country. Instead, we will negotiate fair,
bilateral trade deals that bring jobs and industry back on to American
shores,

India-Centric
Rises in Wealth and Disparity: Credit Suisse Report
Credit Suisse issued a report on global wealth stating that the total
quantum of wealth in India is rising but the disparity between rich and
poorer class is also on a rise.The report says that this disparityin growth
has left 96% of the adult population in India at the base of the wealth
pyramid having a wealth below $10,000.On the contrary, a small fraction
of the adult population (0.3%) has a net worth of more than $100,000.
Read more at: http://www.thehindu.com/business/Economy/
%E2%80%98India%E2%80%99s-wealth-rises-as-does-disparity
%E2%80%99/article16681881.ece
India: Associate Member of CERN
India decided to become an associate member of the European
Organisation for Nuclear Research (CERN), the worlds largest nuclear and
particle physics laboratory. India will be contributing a certain amount of
money for research activities which includes the annual contribution of
11.5 million swiss frank to CERN. It will help India to become a hub of
particle research fraternity and push the endeavour of the scientific
institutions.
Read more at: http://www.firstpost.com/world/from-observer-india-nowbecomes-associate-member-of-cern-3120310.html

India: Non-committal on Market Economy Status to China

India is still not inclined to grant the coveted Market Economy Status
(MES) to China under World Trade Organisation (WTO) norms. The primary
reason that India is reluctant to grant a coveted MES to China is that it will
severely restrict Indias ability to impose any anti-dumping duties on
unfairly priced Chinese imports. Recently, India had imposed duties on
the imported steel to stop the dumping of steel and prevent the
domestic steel industry
Read more: http://www.thehindu.com/business/india-is-noncommittal-onmarket-economy-tag-for-china/article9357908.ece

Fun Figures
20
On 2017 Climate Change Performance Index
India managed to secure 20th rank among the 58 countries on the 2017
Climate Change Performance Index (CCPI). It is an instrument designed to
increase transparency in international climate politics. It prepares a list of
countries which are doing the most to combat climate change. Indias
solar initiative has recently been widely appreciated by the international
fraternity.
Read more at: http://www.business-standard.com/article/currentaffairs/india-ranks-20th-on-climate-change-performance-index116111701669_1.html

138
In 2016 ICT Development Index
India secured 138th rank in the 2016 ICT Development Index out of a total
of 175 countries. In 2015, India had ranked 135th. The index was released
by International Telecommunications Union (ITU) as part of the annual
Measuring the Information Society Report for 2016. ICT Development
Index rankings compare the state of ICT development across countries
and takes into consideration the efforts to improve the same.
Read more: http://indianexpress.com/article/india/india-news-india/indiaranks-131-on-global-index-of-information-and-communication-technologyaccess-report/

Extra

Indian-American Nikki Haley named as US ambassador to UN

US President-elect Donald Trump has named Indian-American Governor of
South Carolina State, Nikki Haley (44) for the high-profile post of US
ambassador to the United Nations. With this, she becomes the first IndianAmerican to be appointed to a Cabinet-level post in any US
administration.
Read more at:
http://economictimes.indiatimes.com/news/international/worldnews/donald-trump-chooses-indian-american-nikki-haley-for-unambassador/articleshow/55588760.cms

16 of 22 PSBs skip paying dividends to Government due to mounting NPAs

As many as 16 of 22 public sector banks skipped paying dividends to
Government in fiscal 2015-16 due to issue of mounting bad loans. It has
led to a 67% decline in government PSBs which skipped dividend
payments included Allahabad Bank, Bank of India, Bank of Baroda, Central
Bank of India, Canara Bank, Corporation Bank, Punjab National Bank, Dena
Bank and Syndicate Bank.
Read more at: http://www.deccanherald.com/content/582175/16-22-psbsskip-dividend.html