Kotak Mutual Fund launches Long Term Income (LTI) facility

Kotak Mutual Fund launches Long Term Income (LTI) facility

Investors can now redeem 0.75% of their investments at the prevailing Net Asset Value (NAV), on a monthly basis

Highlights: ·         Provides regular cash-flow to investors who want a predictable income to manage their expenses ·         Investors can easily liquidate the funds, if needed ·         Has exit load waiver for redemptions of up to certain limit   ·         Only realized earnings would be subject to capital gain tax

 

Kotak Mahindra Asset Management Company. Ltd announced the launch of Long Term Income (LTI) facility to meet the need for predictable, long term, cash-flow requirement of investors. On a monthly basis, investors can redeem 0.75% of their investments at the prevailing Net Asset Value (NAV).

Investors of Kotak Income Opportunities Fund, Kotak Medium Term Fund, Kotak Equity Savings Fund, Kotak Monthly Income Plan and Kotak Bond Fund can avail of the facility if their minimum investment is Rs. 2 lakh. LTI facility is available for investors investing in these schemes on or after June 1, 2016 and is available under growth option only.

Lakshmi Iyer, Chief Investment Officer (Debt) & Head Products, Kotak Mahindra Asset Management Co. Ltd. said, “Long Term Income (LTI) facility is our attempt at answering the need for expectable, long term, cash-flow of investors. This facility will allow investors to redeem a fixed sum of money periodically at 0.75% of the investment amount on monthly basis at the prevailing Net Asset Value (NAV). Thus, investors who are in need of regular cash flow and also, investors who are looking to generate a second source of cash flow apart from their primary source of income, such as salary or business income; can benefit from the Long Term Income (LTI) facility. We believe this kind of facility being offered through the mutual fund route aids in increasing the much needed retail participation in the industry.”

Investors availing the LTI facility can redeem up to 10% of the initial investment amount within one year, without any exit load. The 10% limit is applicable for Kotak Income Opportunities Fund, Kotak Equity Savings Fund, and Kotak Monthly Income Plan. In case of Kotak Medium Term Plan, investors can redeem up to 15% of the initial investment amount within 18 months, without any exit load. There is no exit load for Kotak Bond Fund.

Investors can opt for the Long Term Income (LTI) facility and withdraw their investments systematically on a monthly basis to fulfil their financial commitments.

About Kotak Mahindra Asset Management

Kotak Mahindra Asset Management Company Limited (KMAMC), a wholly owned subsidiary of Kotak Mahindra Bank Limited (KMBL), is the Asset Manager for Kotak Mahindra Mutual Fund (KMMF). KMAMC started operations in December 1998 and has approximately 7 lakh investors in various schemes. KMMF offers schemes catering to investors with varying risk - return profiles and was the first fund house in the country to launch a dedicated gilt scheme investing only in government securities. The company is present in 76 cities and has 79 branches.

Visa payWave leads to drive contactless payments in India

Visa payWave leads to drive contactless payments

in India

§  Over one million Visa payWave contactless cards issued in the market

§  Visa payWave contactless cards accepted at more than 100,000 merchant locations

§  Growing adoption of electronic payments and contactless technology contributing to India’s cashless vision

Visa crosses a major milestone in India withover one million Visa payWave contactless cards issued in the marketand acceptance at more than 100,000 merchant locations across the country. Visa is working with leading banks across the country to develop a robust ecosystem allowing consumers to make payments faster, more conveniently and securely.

“Contactless is the future of payments in India. Since its launch, Visa payWave has gained strong momentum and wide merchant acceptance and we have now reached critical massto serve as a building block for creating the payment system of the future. With Visa payWave technology we have set a foundation for expansion into other form factors like smartphones, wearable devices and stickers as also into new payment categories such as mass transit, tolls, parking etc.,” saidMr.TR Ramachandran, Visa Group Country Manager for India and South Asia.

For transactionsupto INR 2,000, Visa payWave cardholders can use their contactless cards without having to enter the pin or sign transaction receipts. With eight banks currently issuing contactless cards, Indian consumers are now enjoying a new and faster way to pay at supermarkets, dining, entertainment venues and retailers such as Big Bazaar, Future Bazaar, Dominos, Vishal Mega Mart, etc. 

Mr. Kishore Biyani, Founder and Group CEO, Future Group, said“Accepting Visa payWave has helped us reduce our check-out times, which means busy customers are spending shorter time in queues, enabling us to provide a more streamlined and enjoyable customer experience,”

Visa payWave contactless will contribute to greater use of debit cards on POS terminals that were long used for cash withdrawals on ATMs and provide customers with a new payment solution by a simple wave of the card on a contactless reader.

Visa payWave contactless cards have an embedded antenna and microchip, enabling "contactless" communication with a reader at the checkout. The transaction is then processed through Visa’s global, secure network, VisaNet, which processes all Visa transactions. Cardholders simply wave their Visa payWave card over a secure reader to pay.

About Visa Inc.

Visa Inc. (NYSE:V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products. For more information, visit usa.visa.com/about-visa, visacorporate.tumblr.com and @VisaNews.

Seminar on CSR at iLEAD

Seminar on CSR at iLEAD

As per the last amendment, Sub Section 1 of Section 135 of the Companies Act, 2013 stipulates that companies having Net worth of INR 500 crore or more; or Turnover of INR 1000 crore or more; or Net Profit of INR 5 crore or more during any financial year shall be required to constitute a Corporate Social Responsibility Committee of the Board with effect from 1st April, 2014. All such companies are required to spend, in every financial year, at least two per cent of the average net profits of the company made during the three immediately preceding financial years, in pursuance of its Corporate Social Responsibility Policy.

As mentioned by United Nations Industrial Development Organization (UNIDO), CSR is generally understood as being the way through which a company achieves a balance of economic, environmental and social imperatives, while at the same time addressing the expectations of 

shareholders and stakeholders.

A large number of companies are reporting the activities they are undertaking in their official websites, annual reports, sustainability reports and even publishing CSR reports.

HUL is one of the pioneers in this regard.  Their CSR programs are known as Unilever Sustainability Living Plan. As stated in their website: “USLP has three global goals namely help more than a billion people take action to improve their health and wellbeing, reduce the environmental footprint of our products and enhance the livelihoods of people as we grow our business” 

 Always mindful of its social accountability ITC believes that CSR activities are not only a matter of compliance but an integral part of the business.  Their philosophy says “it is ITC’s belief that a company's performance must be measured by its Triple Bottom Line contribution to building economic, social and environmental capital towards enhancing societal sustainability.”

Tata Steel’s vision is “to be a global benchmark in value creation and corporate citizenship”.

But there are a huge numbers of companies for whom it was an activity that was performed but not deliberated. As a result, there is limited documentation on specific activities related to this concept.

According to Indian Institute of Corporate Affairs, a minimum of 16,000 Indian companies will be required to undertake CSR projects in order to comply with the provisions of the Companies Act, 2013 with many companies undertaking these initiatives for the first time. Further, some estimates indicate that CSR commitments from companies can amount to as much as 20,000 crore INR.

iLEAD is therefore organizing a seminar titled  “CSR: Planning & Strategizing: The way toward Corporate Citizenship” in association with the Institute of Company Secretaries of India on 18^th June, 2016  at iLEAD.

iLEAD, the leading Management & Media institute of Kolkata is also the partner institute of  Indian Institute of Corporate Affairs [IICA]and offering Certification course in association with IICA.

This seminar would create a learning platform for those companies who are still not able to develop their CSR policy , are still not clear about the CSR Act and guidelines, who are spending money without any effective implementation mechanism at place and lastly who lack proper documentation. This  seminar  will address the topics like  ‘The Section 135 of the Companies Act, 2013 along with Companies (Corporate Social Responsibility Policy) Rules, 2014 and other notifications: Clarifications and Interpretations’, ‘CSR Committee: Constitution and Roles’, ‘CSR Policy & Strategy’, ‘Implementation Mechanism’, ‘Schedule VII: List of CSR Activities and its Scope’, ‘How to identify the right implementing agency’, ‘Best CSR Practices : Presentation by Company’s CSR Team’, ‘Progress Monitoring’, ‘Report Writing’ and ‘CSR Audit’.

Speakers are coming from IICA, ICWA and ICSI.  Speakers from CSR team of selected companies will also come to share their CSR Philosophy and Policy.

CSR Professionals/Executives, Company Secretaries, Board Members, Social organization/enterprises, NGO’s, PR and Brand Managers, Management/CA/CS/Law/Marketing/PR students  shall attend this seminar to know more about Companies Act, CSR policy & activities of leading companies. 

About iLEAD: iLEAD, the Institute of Leadership, Entrepreneurship and Development is a world-class Institute in Kolkata offering degrees courses in Media and Management studies both at the undergraduate and postgraduate levels i.e BBA, BBA (Hospital Management), B.Sc (Media Science), B.Sc (Animation, multimedia and graphic design) and M.Sc (Media Science). The institute is affiliated to UGC recognized Maulana Abul Kalam Azad University of Technology (MAKAUT), formerly West Bengal University of Technology (WBUT). The institute started operating in 2010 with a vision to become one of the most respected names in education globally.

Recently ILEAD was adjudged as the 2nd Best Emerging Media Institute in India at The Edutainment Awards 2014. ILEAD also won the Best College Trophy at Managerial 2014 Inter B-School Fest organized by IISWBM (Indian Institute of Social Welfare and Business Management), Kolkata which is one of the oldest business schools of India.

iLEAD also has tie-ups and MOUs with various universities and institutes around the world such as Yunnan Normal University Business School (in Kunming, China), Tennessee State University (TSU) (in Nashville, Tennessee, USA), University of Dhaka (in Dhaka, Bangladesh), Law and Management Business School (in Port Louis, Mauritius), Kathmandu University School of Management (in Kathmandu, Nepal) and Bhutan Media & Communications Institute (in Thimphu, Bhutan), Capital University (in Columbus, Ohio, USA), Corporate University OST-Friesland E.V. (in Leer, Germany), Kasem Bundit University (in Bangkok, Thailand) and Noble Institution for Environmental Peace in Toronto, Canada to name a few.

First of its kind CS Acceleration Centre (CSAC) launched in Kolkata by ICSI

 First of its kind CS Acceleration Centre (CSAC) launched in Kolkata by ICSI

 The virtual work area for practising CS will contribute to 'Start-up India, Stand-up India' campaign –

         The Institute aims to promote young Company Secretaries by providing them a well equipped platform with all state-of-the-art office facilities, contributing to 'Start-up India, Stand-up India' campaign

-           

In a bid to encourage the budding Practising Company Secretaries (PCS) for their initial Start Up and Stand Up ventures, President, ICSI, CS Mamta Binani today inaugurated the  first -of its- kind CS Acceleration Centre (CSAC) within the Institute of Company Secretaries of India premises at ICSI – House, Kolkata. Taking forward the recent initiative of the Government of India for encouraging setting up of start-ups, innovation and incubation centres, under the dynamic leadership of Hon'ble Prime Minister Shri Narendra  Modi ji, The Institute of Company Secretaries of India, has taken a major initiative to contribute to the ambitious project - 'Start-up India, Stand-up India.'

CS Acceleration Centre (CSAC) is meant to facilitate the right kind of infrastructure to facilitate a conducive work environment for the budding Company Secretary professionals who wish to establish their own business as a practicing professional. It is intended to encourage budding Practising Company Secretaries to set up their own ventures and is in line with Government of India’s 'Start-up India, Stand-up India' ventures.

Emphasising on the government of India’s ‘Start-Up India’ initiative, CS Mamta Binani, President, ICSI, said that the establishment of “CS Acceleration Centre (CSAC)” at the regional / chapter offices of ICSI will facilitate its members to start up their initial practice for professional growth. The objective of launching the “CS Acceleration Centre (CSAC)” is purely a training and academic initiative of the ICSI to groom the young professionals joining the CS profession by giving them an initial opportunity to stand up on their own.

The Institute of Company Secretaries of India is the largest CS Professional organization and is globally recognised for guiding Industry and academia on the highest standards of Corporate Governance. With the launch of CSACs, the institute aims to promote young Company Secretaries by providing them a well equipped platform with all state-of-the-art office facilities.

The prime objectives and scope of the new initiative are:-

• CSACs to be used by the Practising Company Secretaries intending  to have  office facilities for dealing with their clients, where he/she  can utilize the facility, in the existing premises of Regional / Chapter offices of ICSI. 

• CSACs to help the newly inducted members by facilitating them to get an office at a nominal cost by making prior online booking (in different slots during office hours). 

• CSACs are well equipped with state-of-the Art facilities like Wi-Fi/internet, Telephone, Scanning & Printing, Video Conferencing (as and when required), Reception Desk, Reference Library, Cafeteria, Meeting Chamber(s) and other basic amenities. 

• CSACs have provisions to accommodate at least 2 to 3 CS professionals (PCS) in a single slot on advance payment basis with early confirmation in writing. 

For details log on to www.icsi.edu

  

About The Institute of Company Secretaries of India, (The ICSI): The Institute of Company Secretaries of India, (ICSI) is premier professional body set up under an Act of Parliament, i.e., Company Secretaries Act, 1980, for the regulation and development of the profession of Company Secretaries in India. ICSI works under the jurisdiction of Ministry of Corporate Affirs Govt of India.  The Institute, being a pro-active body, focuses on best and top-quality education to students of Company Secretaries Course and best quality set standards for CS members.

Education Poland

A Flagship Fair Initiated by "His Excellency Mr. Tomasz Lukaszuk" The Ambassador Of The Republic Of Poland, New Delhi.

"Education Poland is a unique initiative to spread awareness of high quality Polish education & facilitate the mobility of global students & research across Poland".

Poland education is a modern and dynamic country full of opportunities for young people willing to get quality education, enhancing their knowledge, improving skills and boosting international experience. It is a hub bridging east and west north and south, combining cosmopolitan attitude and rich historical legacy. With over 1.9 million students its boasts of the highest scholarisation indicates in Europe. All leading universities of Poland offer Bachelors, masters and PhD degree programs that are taught in English. The most popular disciplines include medicine, engineering, architecture, humanities, business & finance. Studying in Poland can ensure a comprehensive education, which would prepare students for work in the most advanced and competitive markets globally at the same time stimulating their personal development.

Advantage of Study in Poland

·         Opportunity to study, work & live in EU/ Schengen. 

·         Poland is stable & safe country centrally located in Europe.

·         World-Class Engineering, Medicine, Management Programs.

·         Highly affordable, quality Education recognized worldwide.

·         Over 400 courses in English at World Ranked Institutions.

           

Education Poland offers many courses –

Medical	Engineering	Management
M.B.B.S	Computer Science & IT	BBA / MBA
Nursing	Electrical Engineering	Mass Communication
Physiotherapy	Electronics & Tele Communication	Economics
Beauty Science	Mechanical Engineering	Hospitality & Tourism
Health Care	Civil Engineering	Sports Science
Life Science	Environmental Engineering	Arts & Design

Why study in Poland?

·         Worldwide recognized, Quality education

·         European Union Member (28 Countries)

·        Schengen Country (visa allows to travel to 26 member countries)

·         ECTS (European Credit Transfer System) Student can take transfer to study in any EU country

·        Extended residence permission after graduation

·        Curriculum on American / International Standards. Courses completely taught in     English language

·         Save one year in engineering (Bachelors for 3 years and Masters for 1.5 years to 2 years)

·         Settlement option (Blue Card). Work Full time

·         No TOEFL, IELTS required if education has been in English Medium

·         Over 36000 students came to Poland in 2014

·         Various Scholarships offered to students whilst studying such as GE Foundation, etc.

·         Part time jobs, Internships.

·         Affordable living costs up to: 180-200 Euros per month

·         Poland is the only country that had growth during recent recession

      Education Poland offer and cover the following Counseling services

·         Career Counseling and course selection

·         University selection and criteria

·         General Country information and culture

·         Immigration and Visa related issues and documentation

·         Work permit and further Settlement options in Europe

·         Job prospects and Job Offers in Europe

Vincent Pol University Lublin - Wise Chancellor Miss Doroda & Miss Monika will be there to Interact with Media. Mr. Vishal Sagar Agnihotri of Poland Education will also be there for Interaction with Media and many more University of Poland will be Present for Interact with Media & Students.

Website - www.educationpoland.pl

Datsun redi-GO Urban Cross launched

Datsun redi-GO Urban Cross launched at INR 2.45 lakh

·         Attractive price range of INR 2,45,481 –3,43,611lakh, ex-showroom, Kolkata

·         Offers5colors, 5 variants  with 5 different customization packages

·         Promises most competitive Cost of Ownership in the segment

Aiming to redefine the entry-level car segment, Datsun today launched India’s first urban cross Datsun redi-GO, at a starting price of INR 2,45,481. Modern, with zippy performance and stylish design, the Datsun redi-GO will be available in five variants at competitive prices.

Pricing Details:

Variant	Ex-Showroom Price (Kolkata)
D	INR 2,45,481
A	INR 2,90,436
T	INR 3,17,666
T (O)	INR 3,28,198
S	INR 3,43,611

Speaking at the occasion of the launch, Jerome Saigot, Vice President - Datsun India, said, “With Datsun redi-GO, we offer a unique urban-crossover styled in Japan, developed and manufactured in India. We are redefining conventional expectations and notions associated with the entry level car segment in India with a modern, fresh, stylish and accessible product. The Datsun redi-GO comes at a compelling price point and reaffirms Datsun philosophy of Dream, Access and Trust.”

The Datsun redi-GO showcases a new Japanese design philosophy called YUKAN - which stands for brave and bold. It features ‘Tall-Boy’ styling and offers best-in-class ground clearance of 185 mm, extra roominess and excellent external visibility for the driver. The Datsun redi-GO will be available in five attractive body colour options – White, Silver, Grey, Ruby and Lime.

Continuing with the commitment to provide confidence behind the wheel, the new Datsun redi-GO comes with a comprehensive safety package –Datsun PRO-SAFE7. The Datsun PRO-SAFE7 embraces safety solutions like shortest braking distance, high strength body shell to absorb impacts, good visibility and wider view of the road, superior suspension system and excellent maneuverability, high bolster support while cornering, energy absorbing steering and driver airbag.

  

The new Datsun redi-GO delivers superior fuel economy of 25.17 kmpl. The all-new 0.8L three-cylinder i-SAT engine mated to a five-speed manual transmission helps it accelerate from 0-100 km/h in 15.9 seconds. It achieves a top speed of 140 km/h. Its new suspension system allows it to offer a good balance between handling and ride comfort.

The Datsun redi-GO comes with an attractive 2 year/unlimited kilometres standard warranty. It also comes with another exciting segment-first - an optional warranty for 2 or 3 years/unlimited kilometres with free roadside assistance. This gives redi-GO owners the option of up to 5 years/unlimited kilometres warranty coverage. The Datsun redi-GO also promises the lowest cost of ownership which is about 32 per cent lower than the competition. Convenience of roadside assistance is provided free of cost with both standard and extended warranties.

With its fresh and eye-catching styling, the Datsun redi-GO comes with a host of personalization options. This striking and dynamic line-up offers 50 accessories perfectly developed and aligned with the taste of young and aspirational Datsun redi-GO customers. The five personalized kit options - Urban, Style, Kool, Easy Kit- enhance style and Easy Kit – premium style add a dash of fun and impart head-turning looks to the Datsun redi-GO.

Datsun redi-GO will be supported by 274 Nissan and Datsun sales & service touchpoints in India starting today. With the projected 300 dealerships, Datsun will be able cover up to 90 per cent of current and prospective customers in the country and provide them with easy and immediate access to sales and aftersales services.

Datsun redi-GO has already created huge interest among the young and aspirational generation of India. Being India’s first urban cross, Datsun redi-GO’s appeal is reflected in the digital buzz it has created. The innovative ‘Datsun India App’, which was introduced to keep customers updated on the latest news about the car, has been downloaded by over 1.5 lakh users. The App, which has an option to book the car with ease, can be downloaded from the Google Play store.