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Hike’s Kavin Mittal looks at ways to increase revenues

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In China, people have quit their day jobs to work for a live streaming app called Inke.


A live streamer can be discovered on the platform and paid by viewers through virtual gifts bought online. The viewers pay for these virtual gifts through real money (in-app purchases). The live streamers get 30% of this with the platform taking the rest. Some people make as much as $50,000 to $60,000 a year, just by live streaming.


The flip side of GST: its impact on the informal economy India is not yet there but similar virtual transactions could take off here soon, according to Kavin Bharti Mittal, founder and chief executive of Hike Messenger.


“The infrastructure is so much like China 4-5 years back. We believe that is going to happen in India,” he said.


Inke’s is the kind of revenue model that Mittal says he would like to build for his company in the next three years before he exhausts the money raised from Tencent and Foxconn (around $175 million). He may go for another round of funding before that but he knows it won’t be easy.


Top deals on Flipkart’s ‘Own Your Dream Phone’ sales

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If you are looking to buy a new smartphone, you don’t have to wait for festive offers anymore. Major online platforms such as Flipkart and Amazon keep coming with special sales on specific product categories from time to time and smartphone is on the top of their list.


After Amazon’s recently concluded sale on smartphones, Flipkart has announced a three-day sale called ‘Own Your Dream Phone’. Starting from today, the sale offers discounts, exchange offers on some of the popular flagship smartphones. There is an additional discount of 5% on all purchases made with Axis bank credit cards. Here are the top deals you can consider right now.

Daily revision of fuel prices Structurally Positive for OMCs

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The shift to daily revision in prices of petrol and diesel from fortnightly revision starting 16 June is structurally positive for Indian oil marketing companies (OMCs)—Bharat Petroleum Corp. Ltd (BPCL), Hindustan Petroleum Corp. Ltd (HPCL) and Indian Oil Corp. Ltd (IOC). With this, India joins countries such as the US and Australia where fuel prices are revised on a daily basis. Get Free Stock Cash Tips by Ripples Financial Advisory, Indore (9644405056)

This means OMCs will be able to pass on daily changes in product prices and exchange rate fluctuations without delays.

IOC said a daily revision of petrol and diesel prices will set new standards of transparency, encourage the automation drive of petrol pumps and lead to better stock management practices.


India allows banks, post offices to deposit old bank notes with RBI

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India on Wednesday allowed banks and post offices to exchange old, big bank notes, which are no longer in circulation, with the Reserve Bank of India (RBI) in a month, provided these notes were collected by Dec. 30, 2016, a finance ministry statement said.

India’s cooperative banks have also been allowed to exchange old currency notes with the RBI, if they had collected these notes by Nov. 14.

Prime Minister Narendra Modi announced a shock move on Nov. 8 last year to ditch 500 rupees ($7.74) and 1,000 rupees ($15.48) notes – worth a combined $256 billion – that he said were fuelling corruption, being forged and even paying for attacks by militants who target India.

Prime Minister dedicates Powergrid’s 400 kV Lucknow – Kanpur D/C Transmission Line to nation

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The Prime Minister Narendra Modi on Tuesday dedicated POWERGRID’s 400 Kilo Volt(kV) Lucknow – Kanpur Direct Current (D/C) Transmission Line with associated bays to the Nation.

“Constructed as a part of “Northern Region Strengthening Scheme-XXXII”, this transmission line will provide high-quality transmission infrastructure for ensuring reliable and quality power supply in Uttar Pradesh especially in the areas like Lucknow, Panki, Unnao, and Kanpur,” according to a statement released by the ministry of power.

CBDT notifies rule for secondary adjustments in transfer pricing

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The Central Board of Direct Taxes (CBDT) on Monday said it has operationalised the provisions of secondary adjustment in transfer pricing.


The Finance Act, 2017 with effect from April 1, 2018 provided for secondary adjustment by attributing income to the excess money lying in the hands of the associated enterprise, in order to make the actual allocation of funds consistent with that of the primary transfer pricing adjustment.


The provision will apply to primary adjustments exceeding Rs 1 crore made in respect of assessment year 2017-18 onwards ..


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Passengers in domestic airlines grow 17.63% in January

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Passengers carried by domestic airlines grew by close 18 per cent to 465.87 lakhs during January-May 2017 as against 396.04 lakhs in the corresponding period of previous year, according to the performance report of the domestic airlines released on Monday.

Passengers carried by domestic airlines during Jan-May 2017 were 465.87 lakhs as against 396.04 lakhs during the corresponding period of previous year thereby registering a growth of 17.63 per cent.

According to it, the passenger load factor in May 2017 showed increasing trend compared to previous month primarily due to beginning of tourist season.

The private airline Spicejet with a 94.3 load factor for the last month topped among domestic airlines.



Indian equity markets trade on flat note >> Free Stock Cash Tips Call on 9644405056

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Continuing previous day’s gains, the Indian equity markets on Tuesday traded on a flat-to-positive note marginally in the green during the morning session.


The wider Nifty of the National Stock Exchange (NSE) traded at 9,666.20 points up 8.65 points or 0.09 per cent.


The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,392.53 points, traded at 31,349.71 points up 38.14 points or 0.12 per cent, from its previous close at 31,311.57 points.


The Sensex has so far touched a high of 31,392.53 points and a low of 31,318.87 points.


The BSE market breadth was bullish — with 1,143 advances and 1,069 declines.

Tata Sons to buy Tata Steel stake in Tata Motors on or after June 23

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Tata Sons Ltd, the holding company of India’s salt-to-software Tata conglomerate, plans to buy out Tata Steel Ltd’s stake in Tata Motors Ltd on or after June 23, it said in a regulatory filing on Saturday.

Tata Sons will buy about 83.6 million shares in Tata Motors at or around the prevailing price of the stock on the date of the planned acquisition, it said in the filing.

It cited “restructuring of investment portfolio” as the reason for the planned deal.

Tata Motors shares closed at 455.75 rupees in Mumbai trading on Friday.

Tata Sons owned 28.71 percent of Tata Motors at the end of March, while Tata Steel owned 2.9 percent in the vehicle maker.

Tata Sons owned 29.75 percent of Tata Steel at the end of March, while Tata Motors owned a 0.46 percent stake in the steelmaker, according to stock exchange data.

Indian media have reported that Tata Sons planned to reduce crossholdings among group companies.

Asian currencies climb as soft economic data hurts Dollar- Get Free Stock Cash Tips Call on 9644405056

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 Most emerging Asian currencies edged up on Monday, with the Korean won leading gains as the dollar was subdued by questions over the strength of the U.S. economy after weak economic data.

 The Dollar’s rally on the back of rising interest rates was tempered by a fall in U.S. housing starts in May to the lowest in eight months and after a barometer of U.S. consumer sentiment unexpectedly fell in early June.

 “Whether forex markets are clueless on the way forward or dollar bulls are getting cold-feet with post-FOMC knee-jerk rallies fading, is debatable.

 Political risks in the United States involving Trump, the FBI and Russia have stymied hawkish cues from the Federal Reserve to some extent with softer economic data also hampering the dollar bulls for now.

 The won led the gains among emerging Asian currencies, climbing as much as 0.5 percent, after posting sharp losses on Friday.