Paytm arm unveils online shopping portal Paytm Mall

New Delhi: Paytm E-Commerce, the online marketplace arm of One97 Communications Pvt. Ltd, launched Paytm Mall, a mobile app and online shopping portal. “Paytm Mall will offer a unique combination of the Mall and Bazaar concepts to Indian consumers,” the statement said. “We have defined quality criteria for sellers and are building strict controls over warehousing and shipping for products sold on Paytm Mall. Paytm is also launching a revamped seller app that will be available in seven languages and enable anyone with a smartphone to set up a seller account on Paytm Mall.

February 26, 2017 19:20 UTC

BSES deploys smart monitoring system for Delhi power consumers

The move comes ahead of an expected spike in peak power demand in the capital region this summer to around 6500-6600 MW, compared to 6261 MW a year ago, the highest ever-recorded in the capital. Photo: Pradeep Gaur/MintNew Delhi: BSES Yamuna Power Ltd., a unit of Reliance Infrastructure Ltd supplying power in the National Capital Region said on Sunday it has deployed a high-end IT system for smart monitoring of power supply that will reduce fault restoration time by half. The system will initially benefit about 100,000 customers and will be expanded to the entire region in phases. It enables real-time flagging of any faults in the power supply and enables quick response to increase quality and reliability of power, said a statement from BSES. Deputy chief minister of Delhi Manish Sisodia inaugurated the system in the presence of company officials, the statement said.

February 26, 2017 19:09 UTC

Demonetisation effect: economic growth seen slowing to 6.1% in December quarter

The first advance growth estimates for 2016-17, released by the Central Statistics Office (CSO) on 6 January, did not capture the impact of demonetisation. International rating agencies and multilateral institutions have cut India’s growth projections for 2016-17 to below 7% in response. India’s economy had grown at 7.1% and 7.3% in the first quarter and second quarter of 2016-17, respectively. “We expect the third quarter GDP growth to be around 6% due to a dip in various economic indicators. Madan Sabnavis, chief economist of Care Ratings expects third-quarter GDP growth to be around 5.5% because of demonetisation.

February 26, 2017 19:07 UTC

Connecting the dots: Increasing operational efficiency

Through the ups and downs of economic cycles, the focus on operational efficiency has been one constant theme, maximizing return on existing investments. The use of Big Data and advanced analytics is allowing manufacturing operations to establish cause and effect relationships, hitherto impossible, thereby cutting costs by 5-7%. Finally, invest in reskilling manpower to obtain the social licence to operate in this new “science-fiction-like” world of industrial operations. The most significant long-term implication of embracing technology to drive operational efficiency will be on human resources. The tectonic shifts that lie ahead of us will redefine the world of industrial operations as we know it.

February 26, 2017 18:35 UTC

Why isn’t water an election issue?

The monks here tell you it is a meeting point for River Payaswini and the lost river Saraswati of Indian mythology and ancient texts. Folklore popular in Allahabad describes the lost river Saraswati as an integral part of the iconic Triveni. Entire villages are turning vacant owing to shortage of drinking water and crops drying up. The conditions are so distressing that in response to a question in 2016, the then minister of state for drinking water and sanitation Ram Kripal Yadav said as many as 308 districts in the country are grappling with the shortage of drinking water. A former chief secretary of the state says lack of drinking water is the biggest reason behind the mass migration from the state.

February 26, 2017 18:28 UTC

Election finance

When the currency swap initiative was announced on 8 November, there was speculation about its impact on the five assembly elections running from February through March. But if seizures made by the surveillance teams that the Election Commission appointed are anything to go by, the currency exchange exercise hasn’t made a dent: record amounts of cash, liquor and drugs have been found. While there are other factors to consider such as better enforcement and raids, the development doesn’t bode well. It shows just how difficult it is to clean up electoral finance in India. The central government has sent a positive signal by addressing the issue, but much remains to be done.

February 26, 2017 18:12 UTC

A paper tiger called Banks Board Bureau

The Banks Board Bureau had recommended both. Along with the two chairmen, the government also cleared the names of nine executive directors in public sector banks (PSBs). It was cleared by the Vigilance Commission but Jain didn’t get the job as a finance ministry division was not comfortable with the choice. Apart from the selection and appointment of board of directors in PSBs, the Bureau is also mandated to advise the government on extension of tenure and termination of services of the board of directors. The report of the committee which reviewed the governance of boards of banks in India mooted the idea of the Bureau.

February 26, 2017 18:10 UTC

Time to consolidate inflation indices

Average inflation at the aggregate level of these five indices varies from 7.32% for CPI Urban to 7.99% for CPI-RL, though inter-year inflation differences are quite significant. The correlation of CPI AL/RL with CPI Rural is 0.87, which also suggests that a switchover to CPI Rural for these two indices may not result in any compromises with the specific requirements that these two indices have. We also look at food inflation as reflected by these indices. The correlation coefficient for these indices is almost similar to what has been observed for the inflation at the aggregate level. The necessary adjustments, if any, could be made in the new CPI series to ensure that population-specific requirements are also met.

February 26, 2017 18:08 UTC

Trump is on the money on US Fed

There is much less discussion on an equally important topic on which candidate Trump weighed in, monetary policy. All that is likely to change under President Trump. Inflation targeting might, at best, be described as science married to art, or, better yet, to divination. In particular, an ostensibly inflation targeting monetary policy can be bent towards exchange rate manipulation—exactly Rajan’s critique of the US Fed, and also the critique by some American observers of Chinese monetary and exchange rate conduct. As Shelton writes, “The distortions induced by government intervention in the foreign-exchange market affect both trade and capital flows.”Now, if he tackles this issue, President Trump may be right on the money.

February 26, 2017 18:08 UTC

As solar shines, time to balance generation

In other words, the solar tariff of about Rs3.3 would remain a pipe dream if risks related to payment, curtailment, land and transmission are not mitigated in future projects. First is that there is a mismatch in the timing of generation and peak electricity demand—demand peaks in the morning and evening, when solar generation is not possible. In other words, commensurate investment in hydro/gas would be needed to maximize solar generation. In other words, their cost of generation and the overall cost of power in the grid will rise. Such low PLF levels will not only have an impact on the commercial viability of projects, but also lead to inefficient thermal generation that affects sector viability and sustainability of environment.

February 26, 2017 18:05 UTC

The controversial legacy of Vinayak Savarkar

The 51st death anniversary (on Sunday) of Vinayak Damodar Savarkar, the man who popularized the term “Hindutva”, provides an opportune moment to look at his controversial legacy. She places Savarkar among the four most important anticolonial nationalists along with Gandhi, Jawaharlal Nehru and Subhas Chandra Bose. But Savarkar, the Hindutva ideologue, had a tenuous relationship at best with the Hindu religion. Savarkar was opposed to the non-violent doctrine of Gandhi but there is no record of him personally resorting to violence. Does Vinayak Savarkar deserve the political untouchability he has been bestowed with?

February 26, 2017 18:05 UTC

Indo-US naval cooperation: steady as she goes?

An operational factor where the US and India diverge is the so-called Fonops, which the US is particularly keen to exercise through the South China Sea. While none of these directly relate to the navies, they are likely to affect the overall prospects and pace of Indo-US cooperation, including naval cooperation. Even if the strategic factors are conducive for enhancing cooperation, there are several operational factors that could stymie deeper relations. First, it sees the Indian Ocean as its primary area of interest, not the South China Sea. Assuming that the strategic and operational factors remain conducive, this scenario is likely to prevail.

February 26, 2017 18:00 UTC

Coming: Route changes in Gurgaon to ease commuter hassle

This step has been taken as the construction work on the Rajiv Chowk intersection will begin on the Gurgaon city side. Likewise, traffic from the Gurgaon city side will also be diverted. Around 1.5 lakh vehicles pass through Rajiv Chowk daily and the underpasses are being constructed by the highway authority to reduce congestion and remove the bottleneck. As part of the first phase, the roads on both sides of the Sohna Road and Bakhtawar Singh Road are being expanded. “We have been tracking these roads daily during the peak hours and have been working with traffic department to develop the plan.

February 26, 2017 17:58 UTC

Greater Noida to list details of realty projects on construction sites instead of its website

The Greater Noida authority will display financial details of builders and their projects on boards at the construction site of each project. We are also looking for new initiatives to revive the projects,” said Deepak Agarwal chief executive officer of the Greater Noida authority. But under pressure from the builders, the Greater Noida authority removed the list after a week. Read more: Three Greater Noida realtors may exit housing projects“Earlier we had uploaded builders’ financial defaults on our website. Thousands of homebuyers in Greater Noida have been affected as several realtors have delayed projects by around eight years.

February 26, 2017 17:56 UTC

Mobile World Congress 2017 highlights: Samsung unveils Galaxy Tab S3, Galaxy Book — Samsung Mobile (@SamsungMobile) February 26, 201712:29 AM: The Galaxy Book comes with 7th-generation Intel i5 processor. — Samsung Mobile (@SamsungMobile) February 26, 201712:25 AM: As guessed, the Samsung galaxy Book look like a much improved version of the Galaxy Tab Pro S, with enough enhancements to warrant a new naming structure. Android based, 9.7-inch, Galaxy Tab S3 is launched as we had guessed. Powered by a Qualcomm Snapdragon 820 chipset, the Tab S3 is cellular network (LTE) capable for connectivity on the move. The Android based, 9.7-inch, Galaxy Tab S3, like its predecessor, is likely to feature a QXGA, 9.7-inch Super AMOLED display.

February 26, 2017 17:53 UTC

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