newsliveupdates

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Govt notifies final valuation rules for angel tax on foreign investments

The finance ministry has brought out final valuation rules applicable to foreign investments into unlisted shares in India to determine whether it entails a premium that is liable to any levy under angel tax provisions.

The final rules notified by the ministry late on Monday seek to provide clarity to investors and give a set of valuation methods to chose from so that the worth of unlisted shares can be assessed accurately, and to help avoid getting caught in the angel tax net, an anti-avoidance measure that was extended to non-residents in Finance Act 2023.

As per the Income Tax Act, share premium received by entities without substantial public interest are taxable as 'income from other sources'. Start-ups have been claiming that this affects their ability to raise capital as most of these entities negotiate diluting their stake in the company based on future valuation of the company. By giving flexibility in the valuation methods, the government seeks to ensure that future prospects of the company are also taken into consideration in the valuation for tax purposes.

The Income-tax (Twenty first Amendment), Rules, 2023, which modifies rule 11UA are in force from Monday. The rules specify that the fair value of the shares will be as determined by the methods provided. Anything above, after accounting for a 10% safe harbour margin, will be deemed as taxable premium. The amended rules introduce a mechanism for arriving at the fair market value of Compulsorily Convertible Preference Shares (CCPS) for investment from residents as well as non-resident residents.

Experts welcomed the rules saying they offer ample flexibility to investors. The amendments to Rule 11UA of the Indian Income Tax Act bring positive changes by offering taxpayers flexibility through multiple valuation methods, simplifying the valuation date consideration, incentivizing venture capital investments, facilitating investments from notified entities, providing clarity on CCPS, and encouraging foreign investments, said Amit Agarwal, partner at Nangia & Co LLP.

The inclusion of a tolerance threshold for minor valuation discrepancies enhances efficiency and fairness in tax assessments, ultimately benefiting both taxpayers and the government, Agarwal said.

The new angel tax rules have very well taken care of an important aspect of CCPS valuation mechanism given that most of the investments in India by venture capital funds are through the CCPS route, said Amit Maheshwari, Tax Partner at AKM Global, a tax and consulting firm.

Implementation of the rules would be interesting to watch since valuation is a subjective matter and a variety of valuation methods may be used with different approaches, which can potentially increase the litigation risks, said Maheshwari.

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Jio AirFiber launched in India at a starting price of Rs 599: Check plans, availability

Reliance Jio AirFiber has been launched and is live in 8 cities. The AirFiber Plans start at a price of Rs 599. The most expensive plan is available at Rs 3,999. The technology was unveiled in last year's Reliance AGM but we got a good look at its use case and benefits during the 2023 AGM. The AirFiber will be competing directly with Airtel Xstream AirFiber which essentially provides a similar service.

The new Jio AirFiber will be available in the following cities: -Ahmedabad -Bengaluru -Chennai -Delhi -Hyderabad -Kolkata -Mumbai -Pune

Through Jio AirFiber, the company plans to bundle home entertainment, broadband and digital services

What is Jio AirFiber?

Jio AirFiber is like a WiFi hotspot or a router but the difference is that it uses high-speed 5G technology instead of fiber optics. The primary benefit of the new technology lies in its portability and ease of use. You just need to purchase the Jio AirFiber unit, then place it at a convenient spot in your house, just plug it in, and turn it on.

Here are the top benefits of the Jio AirFiber listed by Reliance Jio:

JioAirFiber will enable:

Digital Entertainment a. 550+ Digital TV Channels: TV channels will available in high-definition b. Catch-up TV: Users can also go back as long as they want and pull out their favourite shows c. 16+ OTT Apps: JioAirFiber users get free access to the OTT apps. Users can also utilize this subscription and use the apps across any device of their choice such as TV, Laptop, Mobile or Tablet.

Broadband a. Indoor WiFi Service: Jio will provide WiFi connectivity and high-speed broadband experience in all parts of your house or business premise

Smart Home service: a. Cloud PC for Education and Work-from-home b. Security and Surveillance solutions c. Healthcare d. Education e. Smart Home IOT f. Gaming g. Home Networking

Home Devices at no additional cost: a. WiFi router for coverage in your home or business premise b. 4k Smart Set Top Box c. Voice-active remote

Detailed prices of Jio AirFiber:

Jio AirFiber Booking Process Interested buyers who are eligible for the offers can book the AirFiber by paying a token amount of Rs 100. The company will then contact you for further steps. According to Jio, the installation of the AirFiber will start from October 1. The company will contact the buyer using SMS and WhatsApp.

The company claims that the device can be just plugged in to make it work. However, according to the company's FAQ section, in order to ensure an ultra-fast connection, an outdoor unit will be installed on your terrace/rooftop or outside your home. This installation service is chargeable at Rs 1,000 but will be waived off in case you opt for an annual plan.

Speaking at the launch of JioAirFiber, Akash Ambani, Chairman, Reliance Jio Infocomm Limited, said, “Our extensive fiber-to-the-home service JioFiber, already serves over 10 million customers, with hundreds of thousands more getting connected each month. But there are still millions of homes and small businesses to be connected at a rapid pace. With JioAirFiber, we are expanding our addressable market to rapidly cover every home in our country with similar quality of service. JioAirFiber will enable millions of homes with world-class digital entertainment, smart home services and broadband, through its solutions across education, health, surveillance and smart home."

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Unveiling The 5 Signs of Liver Damage and How Livex from Ban Labs Can Help Restore Liver Health

The liver plays a vital role in our overall well-being by performing essential functions like detoxification, metabolism, and nutrient storage. However, various factors such as poor diet, alcohol consumption, medication, and viral infections can lead to liver damage. Identifying the signs of liver damage is crucial for timely intervention and treatment. Let’s have a look at the five common signs of liver damage and how Livex from Ban Labs,a herbal formulation containing Kalmegh, Vidanga and Kasani, can help restore liver health naturally.

Digestive Issues:

One of the early signs of liver damage is digestive problems. If you experience frequent indigestion, bloating or constipation, it could be an indication that your liver is not functioning optimally. Livex contains Kalmegh, a potent herb known for its hepatoprotective properties. It helps stimulate bile production, aiding in better digestion and relieving digestive discomfort. By supporting liver function, Livex promotes a healthy digestive system.

Fatigue and Weakness:

Liver damage can lead to feelings of fatigue and weakness, even after getting adequate rest. The liver is responsible for converting food into energy, and when it is compromised, fatigue can set in.

Jaundice:

Jaundice is a well-known symptom of liver damage, characterized by a yellowing of the skin and eyes. It occurs when the liver is unable to effectively process bilirubin, resulting in its accumulation in the body. Livex features Vidanga, a potent hepatoprotective herb that helps improve liver function and facilitate the elimination of toxins.

Abdominal Discomfort:

Liver damage can manifest as abdominal discomfort, including pain, swelling and tenderness. As the liver becomes inflamed or enlarged, these symptoms may arise. Kasani, a key ingredient in Livex, possesses anti-inflammatory properties that help reduce liver inflammation and alleviate abdominal discomfort. By soothing the liver and reducing inflammation, Livex can provide relief from abdominal symptoms associated with liver damage.

Elevated Liver Enzymes:

Liver function tests that measure the levels of liver enzymes in the blood can indicate liver damage. When the liver is injured or inflamed, enzymes like ALT and AST are released into the bloodstream. If your liver function tests show elevated enzyme levels, it is a sign of liver damage. Livex, with its unique combination of herbal ingredients, aids in restoring liver health by supporting the liver's detoxification processes and promoting healthy enzyme levels.

TAKE APPROPRIATE MEASURES FOR A HEALTHY LIVER

The liver is an extraordinary organ that performs vital functions essential for our well-being. Recognizing the signs of liver damage is crucial for taking appropriate measures to restore liver health. Livex from Ban Labs, enriched with powerful herbal ingredients like Kalmegh, Vidanga and Kasani, can play a significant role in supporting liver function and rejuvenating liver health. From aiding digestion to reducing fatigue, combating jaundice, relieving abdominal discomfort, and stimulating bile secretion, Livex offers a comprehensive solution to take care of your liver. Its natural composition ensures gentle yet effective care for your liver, without the risk of harmful side effects. Prioritize your liver health and incorporate Livex into your wellness routine. Nurture and protect your liver with the power of nature, allowing it to function optimally and support your overall well-being. Please note that if you suspect liver damage or experience persistent symptoms, it is important to consult a healthcare professional for proper diagnosis and guidance.

#Liver #Health #Livex #Ban Labs

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Unlock the Secret to Smooth, Soft, and Shiny Hair With Charm & Glow’s Apple Cider Vinegar Shampoo

Every person dreams of having luscious locks that are smooth, soft, and irresistibly shiny. However, achieving and maintaining healthy hair requires more than just wishful thinking. Charm & Glow’s Apple Cider Vinegar shampoo is a game-changing product that offers vital nourishment to the scalp, resulting in the hair of your dreams. Let’s have a look at the benefits of this incredible shampoo and how it can transform your hair care routine.

The Power of Apple Cider Vinegar:

Apple cider vinegar has long been celebrated for its various health benefits and its positive effects on hair are no exception. When used in hair care products like Charm & Glow shampoo, apple cider vinegar works wonders due to its unique composition. Packed with essential nutrients, enzymes and acids, it becomes a potent ally in maintaining a healthy scalp and promoting beautiful hair.

Scalp Rejuvenation:

Charm & Glow’s Apple Cider Vinegar shampoo helps revitalize and rejuvenate the scalp. It effectively removes buildup, excess oil and impurities that can clog the hair follicles, leading to a dull and lifeless appearance. By restoring the scalp's natural pH balance, this shampoo promotes a healthy environment for hair growth, making it a crucial step in your hair care routine.

Nourishment and Moisture:

Dry, brittle hair can be a result of moisture loss and inadequate nourishment. Fortunately, Charm & Glow’s Apple Cider Vinegar shampoo is formulated to address this issue making your hair noticeably softer, smoother and more manageable, transforming even the most damaged strands.

Shine and Luster:

Who doesn't want hair that radiates with natural shine and luster? The Apple Cider Vinegar shampoo can make that dream a reality. By gently removing residue and buildup, it restores the hair's natural shine and clarity. Additionally, the vinegar's acidic nature helps flatten the cuticles, reflecting light better and enhancing your hair's overall vibrancy.

Scalp Health:

A healthy scalp is the foundation for beautiful hair. Charm & Glow’s Apple Cider Vinegar shampoo has antimicrobial and anti-inflammatory properties that help soothe and protect the scalp from irritations, itchiness and dandruff. Regular use of this shampoo can help maintain a clean and balanced scalp, minimizing common scalp issues and ensuring optimal hair health.

If you've been searching for a hair care product that can deliver smooth, soft and shiny locks, look no further than Charm & Glow’s Apple Cider Vinegar shampoo. This magical combination provides essential nourishment to the scalp, promoting a healthy environment for hair growth. From scalp rejuvenation to nourishment and moisture, this shampoo addresses a range of hair concerns while giving your hair a beautiful shine.

Say goodbye to dull, lifeless hair and embrace the transformational power of this Charm & Glow shampoo. Incorporating it into your hair care routine can make a remarkable difference, leaving you with hair that is enviable and full of life. Remember, your hair deserves the best and with Apple Cider Vinegar shampoo, you can unlock the secret to achieving the hair of your dreams.

So why wait? Start your journey to smooth, soft and shiny hair today.

#Charm & Glow #Charm & Glow Shampoo

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Man arrested with live cartridges at Noida Metro station

A man was arrested with live cartridges at Noida metro station on Tuesday. Officials said cartridges were detected in his bag when he was trying to enter the platform at the Depot Metro Station in Surajpur police station area.

The accused has been identified as Pratyush Kumar, a resident of Ghaziabad’s Vijaynagar and currently living in omicron sector, Greater Noida.

“Two cartridges were found on searching a person’s bag at Depot Metro Station of Noida Metro Rail Corporation. The man put his bag thriugh the scanner and stood in the queue to go through the security check. The scanner detected the cartridges in the bag and the security officials at the station nabbed him and informed the police,” said an official at Gautam Budha Nagar police station.

“The young man said during interrogation that he had kept cartridges in the bag as a hobby. But he could not give a satisfactory answer as to where he got the cartridges from. The accused was arrested and presented in the court. From there, he was sent to jail,” he added.

Source

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The Power of Mindset: How Asian Culture is Paving the Way for Global E-commerce

The rise of ecommerce has changed the way people shop and do business around the world. While ecommerce has been around in the West for decades, it has taken off at an incredible pace in Asia in recent years. One of the key reasons for this is the Asian mindset, which is more receptive to digital commerce than in other parts of the world. In this article, we’ll explore some of the reasons why this is the case.

Tech-Savvy Culture

One of the main reasons why the Asian mindset is more receptive to ecommerce is because of the region’s tech-savvy culture. Asia has a younger population than many other regions of the world, and this demographic is more comfortable with technology than older generations. This has made it easier for businesses to reach out to consumers through digital channels and for consumers to adapt to new technologies like ecommerce.

High Population Density

Asia is home to some of the world’s most densely populated cities, and this has made it difficult for traditional brick-and-mortar stores to thrive. As a result, ecommerce has become a more attractive option for both businesses and consumers. Ecommerce allows businesses to reach a wider audience without the constraints of physical space, while consumers can shop from the comfort of their own homes or offices.

Trust in Online Transactions

Another factor that makes the Asian mindset more receptive to ecommerce is the high level of trust in online transactions. In countries like China, where fraud was once a major concern, ecommerce platforms have taken measures to ensure the security of online transactions. As a result, consumers have become more comfortable with making purchases online, even for high-value items like electronics and luxury goods.

Convenience and Flexibility

The Asian mindset also values convenience and flexibility, two key benefits of ecommerce. With ecommerce, consumers can shop whenever they want, from wherever they want, without having to worry about store hours or locations. Ecommerce also offers more flexibility in terms of payment options, delivery times, and return policies, making it easier for consumers to shop on their own terms.

Social Media Influence

Finally, the Asian mindset is heavily influenced by social media, which has become a major driver of ecommerce in the region. Social media platforms like WeChat, LINE, and KakaoTalk have become powerful tools for businesses to engage with consumers, build brand awareness, and drive sales. In fact, some ecommerce transactions in Asia take place entirely within social media platforms, with consumers browsing, selecting, and purchasing products without ever leaving the app. You can now offer seamless experience to your customers across channels and marketplaces with comprehensive cross border commerce services from Pluugin – one of the leading ecommerce accelerators.

In conclusion, the Asian mindset is more receptive to ecommerce than in other regions of the world. This is due to a variety of factors, including the region’s tech-savvy culture, high population density, trust in online transactions, convenience and flexibility, and social media influence. As ecommerce continues to grow in Asia and around the world, businesses that can tap into the Asian mindset will be better positioned to succeed in the global marketplace. This gives businesses an opportunity to grow exponentially with seamless Cross Border Commerce.

#Pluugin #ecommerce #Cross Border Commerce

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In 2024, iPhone Pro models could get significantly larger

We expect to see the iPhone 15 series launch in September 2023. We already have plenty of leaks for those models, but what about the 2024 series? Believe it or not, leaks are already coming in for those phones, presumably to land as the iPhone 16 family.

Now, a trusted leaker says the iPhone 16 Pro models — presumably the 16 Pro and 16 Pro Max, unless Apple changes its naming strategy — could become much larger. Leaker Unknownz21 (via MacRumors) says the iPhone 16 Pro could have a display size of around 6.3 inches, while the 16 Pro Max could land at a hefty 6.9 inches. This would be about 0.2 inches larger than the expected dimensions of the iPhone 15 Pro series, which we expect to be the same as the iPhone 14 Pro series (6.1 inches for the Pro and 6.7 inches for the Pro Max).

Keep in mind that these dimensions are based on branding, not actual size. The viewable area of the display could be lower, thanks to the curved edges.

MacRumors stands behind this leak, noting that it has “seen documentation that suggests the information [Unknownz21] is sharing is legitimate and reliable.” In addition, display leaker Ross Young also suggested this rumor could be true, although Young’s leaks are only sometimes reliable.

iPhone 16 Pro models: Redesign coming? If we assume this information is accurate, it’s possible the iPhone 16 series could finally see a significant redesign. Although there certainly have been subtle changes over the years, the iPhone 15 series is expected to look a lot like the iPhone 12 series. It’s possible that, with larger display sizes, we could see a revamp of the overall design, finally.

Leaker Unknownz21 also reaffirmed that periscope zoom lenses are on the way for iPhones. As far as we know for now, we expect the first periscope zoom lens to debut with the iPhone 15 Pro Max this year. However, that model could get a name change to the iPhone 15 Ultra. Next year, the iPhone 16 Pro and Pro Max (or Ultra) should both get periscope zoom lenses. It’s expected that Apple will use this lens as more incentive for customers to upgrade to more expensive models.

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Britannia enters JV with Bel, to sell 49% stake to Britannia Diary

Britannia Industries Limited on Tuesday announced that it has entered into a joint venture agreement with French company Bel SA, and Britannia Dairy Private Limited (BDPL) to develop, manufacturing, marketing, distribution, trading and selling, of cheese products in India and certain territories.

As a part of the joint venture, Britannia shall sell 49 per cent of its equity stake in Britannia Dairy Pvt Ltd to Bel SA for ₹262 crore in accordance with the terms of Share Purchase Agreement entered between them.

"BDPL will become a Joint Venture Company (‘JV Company’) of Britannia and Bel in India which will carry out/undertake the cheese business in the Territory. Further, as a part of the JVA, BDPL will allot equity shares to Britannia and Bel, in accordance with the terms of the Share Subscription Agreement entered between Britannia, Bel and BDPL, on 29th November 2022," the company said in its regulatory filing.

As an effect of this transfer, Bel shall hold 49 per cent of BDPL and the balance 51 per cent shall continue to be held by Britannia.

Britannia Dairy Private Limited turnover for FY21-22 was at ₹340 crore, which includes cheese turnover of ₹207 crore, while the net worth of BDPL as on 31 March, 2022 was ₹130 crore.

Wadia Group-backed Britannia Industries hit a new 52-week high on Tuesday tracking broad-based buying in FMCG stocks. Britannia climbed more than 2 per cent and crossed the ₹4,300 mark. Britannia shares have jumped by nearly 19 per cent year-to-date.

Britannia Industries posted 28 percent year-on-year growth in consolidated net profit at ₹490 crore for the quarter ended September 2022 while consolidated revenue from operations jumped 21 percent YoY to ₹4,379.61 crore.

The scrip on Tuesday was trading 1.31 per cent higher at ₹4,269.65 at BSE.

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Paytm slips 11% on Macquarie’s risk alert on RIL financial foray

Paytm’s stock plunged over 11% to the lowest point on Tuesday after a report from Macquarie sounded out a potential risk for the Noida-based payments firm from Reliance Industries Ltd’s Jio Financial Services.

Shares of One97 Communications, the parent of Paytm, slipped to ₹475.55 on the National Stock Exchange. “Entity could be the 5th largest financial services company in India in terms of net-worth," Macquarie analysts said, adding that among fintechs, Paytm could be “most at risk."

Last month, RIL said it will demerge its financial services business and list it on the stock exchanges under Jio Financial Services Ltd to tap the growing demand for new age financial services for retail and small-business customers.

Macquarie said with its access to huge amounts of data, gathered from a non-financial relationship, Jio Financial Services will be able to differentiate from other fintechs. It will be able to process and analyse the data in real-time, and offer financial services similar to larger corporations such as Alibaba, Amazon, Apple, Facebook, Google.

With RIL’s large balance sheet, NBFC license and network, Jio Financial Services has good resources to leverage. It is being led by banking veteran K V Kamath. “RIL can significantly disrupt the payments business and be a real threat to fintech business models," the report said.

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At Least 56 Dead In Indonesia Earthquake, 700 Injured

A shallow 5.6-magnitude earthquake killed at least 56 people and injured hundreds when it damaged buildings and triggered landslides on Indonesia's main island of Java on Monday, officials said. Doctors treated patients outdoors after the quake -- felt as far away as the capital Jakarta -- left hospitals without power for several hours.

"You can see it yourself, some got their heads, feet sewn outdoors. Some got stressed and started crying," West Java governor Ridwan Kamil told a press conference broadcast on Kompas TV.

He added that power had been partially restored by the evening, without specifying if through a generator or connection to a power grid.

The afternoon quake was centred in the Cianjur region of West Java, according to the United States Geological Survey, with local authorities saying 56 people had been killed and over 700 wounded.

"Because there are still a lot of people trapped on the scene, we assume injuries and fatalities will increase over time," said Kamil as ambulance sirens blared throughout his press conference.

The majority of deaths were counted in one hospital, head of Cianjur's local administration Herman Suherman said earlier, with most of the victims killed in the ruins of collapsed buildings.

He told local media the town's Sayang hospital had no power after the quake, leaving doctors unable to immediately operate on victims.

More health workers were urgently needed due to the overwhelming number of patients, he added.

Locals rushed victims to the hospital on pickup trucks and motorbikes, according to footage obtained by AFP.

They were placed in front of the facility as residents spread a tarpaulin on the road for the bodies.

Kamil, the governor, said multiple landslides had cut off road access to some areas and bulldozers were being used to open them up.

'Emergency state'

Thousands of houses could have been damaged in the quake, Adam, a spokesperson for the administration who, like many Indonesians, goes by one name, told AFP.

Shops, a hospital and an Islamic boarding school in the town were severely damaged, according to Indonesian media.

Broadcasters showed several buildings in Cianjur with their roofs collapsed and debris lining the streets.

Relatives of victims congregated at the hospital while at another facility, Cimacan hospital, green tents were erected outside for makeshift treatment, according to an AFP reporter at the scene.

"We are currently handling people who are in an emergency state in this hospital. The ambulances keep on coming from the villages to the hospital," Suherman said.

"There are many families in villages that have not been evacuated."

Indonesia's disaster chief Suharyanto, who also goes by one name, said information was "still developing".

Cianjur police chief Doni Hermawan told Metro TV authorities had rescued a woman and a baby from a landslide but a third person they found had died of their injuries.

Jakarta rattled

French President Emmanuel Macron was the first world leader to offer his condolences.

"Indonesia was hit this morning by an earthquake of destructive and deadly force. Thoughts for all the victims," he wrote. Indonesian President Joko Widodo is yet to respond to the quake.

Indonesia's meteorological agency warned residents near the epicentre to watch out for more tremors.

Indonesia's meteorological agency said it recorded 25 aftershocks in Cianjur after the quake. They ranged from magnitudes 1.8 to 4 on the Richter scale.

But there were no reports of casualties or major damage in Jakarta.

Mayadita Waluyo, a 22-year-old lawyer, described how panicked workers ran to building exits in Jakarta as the quake struck.

"I was working when the floor under me was shaking. I could feel the tremor clearly. I tried to do nothing to process what it was but it became even stronger and lasted for some time," she said.

"I feel a bit dizzy now and my legs are also a bit cramped because I had to walk downstairs from the 14th floor."

Hundreds of people were waiting outdoors after the quake, including some wearing hard hats to protect themselves from falling debris, an AFP reporter there said.

Indonesia experiences frequent seismic and volcanic activity due to its position on the Pacific "Ring of Fire", where tectonic plates collide.

A 6.2-magnitude quake that shook Sulawesi island in January 2021 killed more than 100 people and left thousands homeless.

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"Take Care Of Daughter": Pilot To Wife Day Before Kedarnath Chopper Crash

"Take care of my daughter. She is unwell," were the last words of helicopter pilot Anil Singh when he spoke to his wife a day before he was killed along with six pilgrims when his chopper crashed into a hill in Uttarakhand on Tuesday due to poor visibility. Mr Singh (57) was living in a posh housing society in the Andheri suburb of the metropolis and is survived by his wife Shireen Anandita and daughter Firoza Singh.

The ill-fated six-seater chopper -- Bell 407 (VT-RPN) -- operated by the city-based Aryan Aviation -- was ferrying pilgrims from Kedarnath temple to Guptkashi when it crashed into a hill due to poor visibility, bursting into flames at around 11.45 am at Dev Darshini in Garud Chatti, Rudraprayag District Disaster Management Officer Nandan Singh said.

Anandita said she and her daughter will be leaving for New Delhi to perform the last rites of her husband.

"His last call to us was yesterday (Monday). My daughter is not keeping well. He told me to take care of her," Anandita, who is a film writer, told PTI over the phone.

Originally a resident of East Delhi's Shahadra locality, Mr Singh was living in Mumbai for the last 15 years.

Earlier in the day, an official from the Uttarakhand police confirmed that the pilot killed in the crash, Singh, hailed from Mumbai.

Anandita, however, said she had no "complaint against anyone as an accident is an accident".

Moreover, the hill state always experiences inclement weather, she said.

Teams of the Aircraft Accident Investigation Bureau (AAIB) and aviation regulator DGCA will be probing the helicopter crash, according to a senior official.

Aryan Aviation had come under the regulatory scanner and was fined ₹ 5 lakh recently by the directorate General of Civil Aviation (DGCA) for certain violations. This was the only 6-seater helicopter in the company's fleet of five choppers, according to the DGCA website.

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Is UK committed to supporting India’s transition to clean energy?

The economic growth of India over the past decades has been impressive. So much so that it is now among the highest in the world. A new city the size of London is added every year to India's urban population, resulting in vast investments in new factories, buildings, and transportation systems. The coal and oil industries have been the backbone of the country's industrial development, providing modern energy services to an increasing number of its citizens.

During COP26, the Indian Prime Minister, Narendra Modi, announced the country's commitment to a net-zero carbon-emission target by 2070 and targets to meet 50% of its energy requirements from renewable energy by 2030. Ahead of the conference, the UK announced a $1 billion investment from British Investment International into Indian green projects over the next five years and guaranteed $1 billion in World Bank lending to India. It is also worth mentioning that the Green Growth Equity Fund (GGEF), a joint investment of £120 million from both the UK and India, is now the largest single-country emerging market climate fund globally.

Hindustan Powerprojects Pvt Ltd (HPPPL) is one of the biggest power producers in the country that is committed to working in tandem with our communities by providing a cleaner and more sustainable environment.

When it comes to solar power, HPPPL has developed solar farms nationally and internationally. The Clean Energy division of the organization has commissioned India's first solar power plant of 5 MW and Asia's first of 30 MW. Additionally, through its Special Purpose Vehicle (SPV), its thermal arm is currently supplying 85% of the power generated to the distribution utilities in various cities. HPPPL is also exploring the possibility of setting up hydropower plants in North, North-East, and Nepal as India's hydropower sector grows rapidly.

Ratul Puri, Chairman of Hindustan Powerprojects (HPPPL), believes India needs robust growth in its energy sector, therefore the organization aims to develop a state-of-the-art thermal project capable of generating high efficiencies sustained over time.

In addition, Mr. Ratul Puri said that the country should increase its energy generating capacity in order to meet its developmental agenda. Further, he stated, “While focusing on expanding capacity, the company is also dedicated towards the vision of the Government.”

Source

#Ratul Puri #HPPPL

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SAMSUNG LAUNCHES ‘THE FRAME’ RANGE OF SMART TVS IN INDIA STARTING AT RS 61,990

Samsung says The Frame TV is designed for art connoisseurs and lets users frame it in their own way by offering a variety of customizable, magnetic bezels which users can choose from and even change to their favourite colour to best suit a room’s decor.

The Frame TV has a built-in Art Store that allows users to curate their personal art collection from a growing library of over 1,600 pieces of world-famous art including popular Indian folk art such as Madhubani from Bihar, Gond from Madhya Pradesh and Pattachitra from Odisha and Bengal.

Furthermore, users can upload and display their family or travel photographs and even customize their own pictures with five different mat layout options and a palette of 16 different colours to make them more realistic. The simpler and more intuitive Home Screen feature of The Frame TV provides an easier and more convenient art experience on the Art Store.

The Frame smart TV comes with a QLED display with a resolution of up to 3,840 x 2,160 pixels, a screen refresh rate of 100Hz and matte display anti-reflection coating. It is powered by Samsung’s Quantum Processor 4K with a Picture Quality Index of 3,500 and HDR10+ Adaptive and HDR10+ gaming certification, and Supreme UHD Dimming and Motion Xcelerator Turbo+ technologies.

For audio, The TVs comes with a 40W 2.0.2 channel speaker with support for Dolby Atmos, Adaptive Sound+ and Dolby Digital Plus MS12 5.1ch. It runs Samsung’s Tizen OS with built-in Google Assistant, and support for Bixby and Alexa.

In addition to this, it has a Motion Sensor that automatically turns on to display users’ select artwork when they are in the room and switches off when they leave the room to save energy. There is a brightness sensor that detects ambient light and automatically adjusts the screen’s brightness and colour tone to retain the artwork’s original look regardless of the lighting in the room.

The Frame also has an EyeComfort Mode. It also has an object-tracking sound feature that tracks sound from all corners of a user’s TV and comes with multi-channel speakers all around the screen to track motion that draws the user in close to the action.

The new edition of The Frame TV 43-inch variant is priced at Rs 61,990, a 50-inch variant costs Rs 73,990, a 55-inch variant is available at Rs 91,990, a 65-inch variant costs Rs 1,27,990, and a 75-inch variant costs Rs 2,99,990 on Samsung site, Amazon, Flipkart and across leading retail stores. Consumers buying The Frame TV will get free bezel worth up to Rs 7,690 with new The Frame TV models, Samsung Galaxy A32 worth Rs 21,490 with 75-inch model and Samsung Galaxy A03 worth Rs 9,499 with the 65-inch model.

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Traffic, Water Shortages, Now Floods: The Slow Death Of India's Tech Hub?

Harish Pullanoor spent his weekends in the late 1980s tramping around the marshes and ponds of Yemalur, an area then on the eastern edge of Bengaluru, where his cousins would join him catching small freshwater fish. In the 1990s, Bengaluru, once a genteel city of gardens, lakes and a cool climate, rapidly became India's answer to Silicon Valley, attracting millions of workers and the regional headquarters of some of the world's biggest IT companies.

The untrammelled expansion came at a price.

Concrete replaced green spaces and construction around the edge of lakes blocked off connecting canals, limiting the city's capacity to absorb and siphon off water.

Last week, after the city's heaviest rains in decades, the Yemalur neighbourhood was submerged under waist-deep water along with some other parts of Bengaluru, disrupting the IT industry and dealing a blow to its reputation.

Residents fed up with gridlocked traffic and water shortages during the dry season have long complained about the city's infrastructure.

But flooding during the monsoon has raised fresh questions about the sustainability of rapid urban development, especially if weather patterns become more erratic and intense because of climate change.

"It's very, very sad," said Pullanoor, who was born close to Yemalur but now lives in Mumbai, parts of which also face sporadic flooding like many of India's urban centres.

"The trees have disappeared. The parks have almost disappeared. There is chock-a-block traffic."

Big businesses are also complaining about worsening disruptions, which they say can cost them tens of millions of dollars in a single day.

Bengaluru hosts more than 3,500 IT companies and some 79 "tech parks" - upmarket premises that house offices and entertainment areas catering to technology workers.

Wading through flooded highways last week, they struggled to reach modern glass-faced complexes in and around Yemalur where multinational firms including JP Morgan and Deloitte operate alongside large Indian start-ups.

Millionaire entrepreneurs were among those forced to escape flooded living rooms and swamped bedrooms on the back of tractors.

Insurance companies said initial estimates for loss of property were ran into millions of rupees, with numbers expected to go up in the next few days.

'Global Impact'

The latest chaos triggered renewed worries from the $194 billion Indian IT services industry that is concentrated around the city.

"India is a tech hub for global enterprises, so any disruption here will have a global impact. Bangalore, being the centre of IT, will be no exception to this," said K.S. Viswanathan, vice president at industry lobby group the National Association of Software and Services Companies (NASSCOM).

Bangalore was renamed Bengaluru in 2014.

NASSCOM is currently working to identify 15 new cities that could become software export hubs, said Viswanathan, who is driving the project.

"It is not a city-versus-city story," he told Reuters. "We as a country don't want to miss out on revenue and business opportunities because of a lack of infrastructure."

Even before the floods, some business groups including the Outer Ring Road Companies Association (ORRCA) that is led by executives from Intel, Goldman Sachs, Microsoft and Wipro, warned inadequate infrastructure in Bengaluru could encourage companies to leave.

"We have been talking about these for years," Krishna Kumar, general manager of ORRCA, said last week of problems related to Bengaluru's infrastructure. "We have come to a serious point now and all companies are on the same page."

In the early 1970s, more than 68 percent of Bengaluru was covered in vegetation.

By the late 1990s, the city's green cover had dropped to around 45% and by 2021 to less than 3% of its total area of 741 square kilometres, according to an analysis by T.V. Ramachandra of Bengaluru's Indian Institute of Science (IISC).

Green spaces can help absorb and temporarily store storm water, helping to protect built up areas.

"If this trend continues, by 2025, 98.5% (of the city) will be choked with concrete," said Ramachandra, who is part of IISC's Centre for Ecological Sciences.

City In Decay

Rapid urban expansion, often featuring illegal structures built without permission, has affected Bengaluru's nearly 200 lakes and a network of canals that once connected them, according to experts.

So when heavy rains lash the city like they did last week, drainage systems are unable to keep up, especially in low-lying areas like Yemalur.

The state government of Karnataka, where Bengaluru is located, said last week it would spent 3 billion Indian rupees ($37.8 million) to help manage the flood situation, including removing unauthorised developments, improving drainage systems and controlling water levels in lakes.

All the encroachments will be removed without any mercy," Karnataka Chief Minister Basavaraj Bommai told reporters. "I will personally go and inspect."

Authorities have identified around 50 areas in Bengaluru that have been illegally developed. Those included high-end villas and apartments, according to Tushar Girinath, Chief Commissioner of Bengaluru's civic authority.

Last week, the state government also announced it would set up a body to manage Bengaluru's traffic and start discussions on a new storm water drainage project along a major highway.

Critics called the initiatives a knee-jerk reaction that could peter out.

"Every time it floods, only then we discuss," said IISC's Ramachandra. "Bengaluru is decaying. It will die."

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Scientists develop simple technology to produce hydrogen gas at room temperature

Scientists at the University of California Santa, Santa Cruz (UCSC) have developed a new method to efficiently generate hydrogen from water at ambient temperatures using aluminium and gallium.

The research was published in the journal Applied Nano Materials in February and has a pending US patent application.

Aluminium is an excellent candidate material for this purpose because the highly reactive metal easily reacts with the oxygen molecules in water to release hydrogen gas. But the pure form of the metal is so reactive that it instantly reacts with air to create a coating of aluminium oxide on its surface, meaning it cannot react with water.

That is where gallium comes in. Gallium is liquid at slightly above room temperature and it removes the aluminium oxide coating that forms on the bare metal, allowing it to be in direct contact with the water and react with it. The reaction of aluminium and gallium with water to produce hydrogen gas is already common scientific knowledge but the new technology features innovations that bring it closer to practical applications.

According to the researchers, previous such studies mostly focused on using aluminium-rich composites. But they discovered that using a gallium-rich mixture led to an unexpectedly high rate of hydrogen production.

“After the process, we could easily recover 95 per cent of Gallium that was used, without optimisation. The only other product that was formed was Alumina [Aluminium Oxide], which can be used for many other applications,” Scott Oliver, corresponding author of the research article, told indianexpress.com over email.

This is important because gallium is an expensive and rare mineral. Alumina has many applications including in spark plugs, abrasion-resistant tiles and cutting tools.

Due to the new proportion of the composite, not only was gallium removing the aluminium oxide coating, but it was also separating the aluminium into nanoparticles, which helped speed up the reaction. The researchers found that a 3:1 ratio of gallium and aluminium in the composite was the optimum ratio for the highest hydrogen production. Further, the composite is very easy to form. The researchers created it by manually mixing small amounts of aluminium into gallium.

While it remains to be seen whether this technology can be scaled up to produce hydrogen in commercial quantities, the researchers are optimistic. “It should be possible to scale up the technology to industrial levels of production. We were only limited by our apparatus to measure the hydrogen volume and the campus limits on hydrogen. Scale-up will require control of mixing the alloy but the reaction is spontaneous once the water is added,” added Oliver.

The worldwide push for electric vehicles has largely focused on battery electric vehicles (BEVs), which typically use lithium-ion batteries to store electricity that can be used to propel the vehicle using electric motors. An alternate technology involves the use of “hydrogen fuel cells” to generate electricity from hydrogen and use that to power the vehicle.

Hydrogen fuel cell vehicles present some advantages over BEVs—they can be refuelled with hydrogen as fast as a conventional vehicle can be refilled with fossil fuels. Also, they reduce dependence on minerals like lithium and cobalt, which are used to produce lithium-ion batteries.

But the use of hydrogen also comes with a major disadvantage. According to the US Department of Energy, a majority of the world’s hydrogen gas production comes from reforming fossil fuels like natural gas. And producing hydrogen using electricity from renewable sources is an energy-intensive process. New technologies like the one produced by the UCSC could remove this barrier to large-scale hydrogen fuel adoption.

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Bharat Biotech's Nasal Vaccine Against Covid-19 Cleared For Use

A nasal vaccine against Covid-19, developed by Bharat Biotech, has been approved by the drug controller, for "restricted use" among adults "in emergency situation", said Union Health Minister Dr Mansukh Mandaviya.

"India has harnessed its science, research and development, and human resources… under PM Narendra Modi's leadership," the minister said.

In February, in what was the country's first such anti-Covid drug, Mumbai-based Glenmark launched a nasal spray (branded FabiSpray) in partnership with SaNOtize, for treatment of adult patients.

The company got manufacturing and marketing approvals from the Drugs Controller General of India for its Nitric Oxide Nasal Spray as part of an accelerated approval process. "Phase 3 trial in India met the key endpoints and demonstrated reduction of viral load of 94 per cent in 24 hours and 99 per cent in 48 hours," the official statement said.

As for the pandemic status today, India saw a single-day rise of 4,417 coronavirus infections, which is the lowest in three months, as per government data updated at 8 am on Tuesday.

Active Covid cases have declined to 52,336, while there were 23 fatalities reported.

The active cases now comprise 0.12 per cent of the total infections while the recovery rate has increased to 98.69 per cent, the Health Ministry said.

Vaccine development is seeing a boost too, across the world. UK health authorities on Saturday approved a second "bivalent" vaccine to be used as a booster to target both the Omicron and original strains of the virus.

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Decarbonization is Mission Critical Now: Ratul Puri

The need for Renewable & Green energy is now mission critical.

Since 1970, CO2 emissions have increased by about 90 per cent, with emissions from fossil fuel combustion and industrial processes contributing about 78 per cent of the total greenhouse gas emissions increase from 1970 to 2011.

Ratul Puri, Group Chairman, Hindustan Powerprojects said, "As per the Energy Information Administration (EIA) projections, there is going to be a nearly 50 per cent increase in global energy use by 2050. As economic activity restarted after the Covid lockdowns, there were reports of rising energy costs and tight supplies from all parts of the globe. Global summits talk about commitments from all nations on net-zero emissions and carbon neutrality. And yet, fossil fuels like coal, oil and natural gas supply 80 per cent of the world's energy used. Large parts of the developing world rely on that. That is why global energy debates have the potential to threaten social cohesion. At the Paris summit on climate change in 2015, world leaders agreed to contain global warming to 2 degrees Celsius, and strive to bring Earth's average temperature to 1.5 degrees Celsius, below the pre-industrial levels. Renewable energy is going to be an important source for power generation in the near future, and the most logical way to open our paths to carbon neutrality."

India is meeting global commitments, including living up to its (https://www.climate-transparency.org/g20-climate-performance/the-climate-transparency-report-2020#1531904804037-423d5c88-a7a7) climate mitigation promises. We are well ahead of targets in achieving ambitious commitments such as making renewables 40 percent of the energy mix by 2030 and managing the sequestration of 2.5 billion tonnes of carbon. To cap global warming at 1.5 degrees Celsius, policy should take the long view, expand access to digital connectivity and invest in green infrastructure.

Ratul Puri further said, "The energy challenge is three-fold. First, we need reliable and clean energy to meet our consumption requirements. Second, we need to transition to green energy sources to decrease the burden of global warming. Third, we need to increase the reliability and resiliency of the grid network. However, the move to clean energy is not all that simple."

Unabated coal use fuelled the industrialization of the now developed nations, and enabled their path to prosperity. If the world needs to be net-zero by 2050, as per the Intergovernmental Panel on Climate Change (IPCC), all countries need to take on emission reduction targets. Carbon levies may kick in next. Already, sustainability reporting norms from the Securities and Exchange Board of India (SEBI) mandate an environmental, social and governance overview. The energy transition is one of the most complex issues humanity is facing in contemporary times.

India set up the Ministry of Non-conventional Energy Sources in 1992 and renamed it Ministry of New and Renewable Energy (MNRE) in 2006, laying the foundation for renewable energy growth. Prime Minister Narendra Modi resolves to see India emerge as a leader in the renewable energy space. He has set an ambitious target of achieving 450GW of renewable energy capacity by 2030.

"In the past 10 years, renewables have seen rapid growth in our energy ecosystem. Estimates suggest India has over 1050GW of renewable potential in wind and solar power energy. Green energy sources, like solar and wind, offer intermittent benefits, given their reliance on sunlight and high-speed winds. This makes energy storage vital to building green capacities," Ratul Puri added.

Europe generates 30 per cent of its power by renewables, out of which 13 per cent is by wind. In India, hydro contributes to 11 per cent of the total energy produced, followed by wind and solar. In the past eight years, Rs 5.2 trillion has been invested in renewable energy. Policy interventions, like transparent bidding, waiving of inter-state transmission system charges, and so on, have helped India play a leading role in the clean energy ecosystem. India helped set up the International Solar Alliance in 2015, to promote solar energy in 121 tropical countries.

Additionally, waste-to-energy projects offer twin benefits of making India clean and green. We need to have more such projects, encourage green mobility, and production of hydrogen. Technology can help bring down the price of renewable energy and become a gamechanger in the climate change battle.

Digitalized energy systems with advanced situational intelligence can identify who needs energy and when and deliver it at the lowest cost. Despite the pandemic, steady growth helped us cross the 100GW target of installed capacity of renewable energy in 2021.

"The decarbonization move includes curtailing diesel intake, encouraging green grids, low-power digital designs, better efficiencies, better water treatment facilities, and so on. Our climate and energy strategies must be on a continual innovation and speed cycle. Huge opportunity exists in reimagining the energy sector," Ratul Puri concluded.

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