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Spectrum auction: Bids over Rs 50,000 cr received
New Delhi, February 4
As the second day of bidding for the 2G spectrum came to an end, there were indications that the fight was turning tough for the more-efficient 900 MHz band spectrum which has been put up for sale in Mumbai, Delhi and Kolkata.

Auto Expo begins today; Hyundai rolls out compact sedan Xcent
New Delhi, February 4
There was a flurry of activity ahead of the Auto Expo, which will kick off tomorrow, with Hyundai Motors India Ltd (HMIL) launching a sub-4 metre compact sedan Xcent and Nissan launching Nissan PlayStation GT Academy, a driver discovery and development programme that could be the gateway to motor sports.
Hyundai Motor India managing director and CEO BS Seo poses with compact sedan Xcent at its launch in New Delhi on Tuesday. It will be available both in petrol and diesel variant. Hyundai Motor India managing director and CEO BS Seo poses with compact sedan Xcent at its launch in New Delhi on Tuesday. It will be available both in petrol and diesel variant. Tribune photo: Mukesh Aggarwal



EARLIER STORIES


Financial inclusion a top priority for P&SBs new CMD
New Delhi, February 4
New CMD of Punjab and Sind Bank (P&SB) Jatinderbir Singh has outlined his priorities as: enhancing financial inclusion, ensuring customer-friendly service, modernisation of information technology platform and training of manpower.

Biz talk
Sahara Q eyes revenue of Rs 2,000 cr in FY14
FMCG and retail company Sahara Q is growing at 30% and will touch revenue of Rs 2,000 crore this year. It has 1,120 outlets in 441 cities across 15 states. Romie Dutt, executive director, Sahara Q, talks to Sanjeev Sharma about the distribution network, penetration in the 'kirana' segment and innovation in the product line.

RBI eases third party payment norms for export, import 
Mumbai, February 4
The RBI today liberalised the third party payment norms for import of goods by removing the ceiling of $100,000.





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Spectrum auction: Bids over Rs 50,000 cr received
Tribune News Service

New Delhi, February 4
As the second day of bidding for the 2G spectrum came to an end, there were indications that the fight was turning tough for the more-efficient 900 MHz band spectrum which has been put up for sale in Mumbai, Delhi and Kolkata.

After the completion of 14 rounds of bidding by late this evening, Mumbai continued to remain in great demand with an incremental increase in the bidding price for the next round touching 11.04 crore over the previous round.

Experts pointed out that the bidding may have crossed Rs 50,000 crore at the end of day two, making it for the government easy to achieve its target. It had set a target of just over Rs 40,000 crore to rake in from the auction.

In the 1,800 Mhz band, there was excess demand over availability in Assam (which has 11.4 Mhz spectrum) as well as Gujarat (12 Mhz) at the end of the 13th round of bidding.

While Mumbai, Delhi and Kolkata remain in demand in the 900 MHz band, Delhi seems to be picking up in the 1,800 MHz band also. In this band, the demand is also high in Assam, Gujarat and UP (West).

Yesterday, the government had secured more than Rs 42,000 crore (at the rate of last bidding price on Day 1) with the average biding price of the three circles together rising 33.99% higher than the reserve price at the end of seventh round.

Telecom Minister Kapil Sibal said rationalisation of reserve prices in the ongoing spectrum auction helped the government to get Rs 40,000 crore of bids on the opening day.

"We took the bold step of rationalising reserve prices and on the first day itself you have bids worth Rs 40,000 crore," Sibal said.

It is necessary for Vodafone to get spectrum in Delhi, Mumbai and Kolkata; for Airtel in Delhi and Mumbai, and Loop Mobile in Mumbai for continuing their operations because their licences are due to expire in November.

14 rounds completed

  • After the completion of 14 rounds of bidding on Day 2, the Mumbai circle continued to remain in great demand
  • Aggressive bidding was seen for the 900 MHz, which is in short supply and is being auctioned in just three cities Delhi, Mumbai and Kolkata

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Auto Expo begins today; Hyundai rolls out compact sedan Xcent
Tribune News Service

New Delhi, February 4
There was a flurry of activity ahead of the Auto Expo, which will kick off tomorrow, with Hyundai Motors India Ltd (HMIL) launching a sub-4 metre compact sedan Xcent and Nissan launching Nissan PlayStation GT Academy, a driver discovery and development programme that could be the gateway to motor sports.

As many as 70 new launches are lined up for the 12th edition of Auto Expo, of which 26 will be global models with the companies hoping that new models will help revive demand at a time when the sector is going through a prolonged slump.

The first two days of the expo, to be held from February 5-11, have been reserved for media and entry for general public will open from February 7.

Unlike in the past, this time the expo has been split into two parts due to space constraints, with the motor show being held at Greater Noida and auto components exhibition at Pragati Maidan.

It has been co-organised by the Society of Indian Automobile Manufacturers (SIAM), CII and the Automotive Component Manufacturers Association of India (ACMA).

Xcent is based on the Grand i10 platform and will compete for space against Honda Amaze and Swift Dzire.

The company will launch the car next month and will unveil the pricing at that time, senior executives of the company said today. The Xcent will be available in two engine options - petrol and diesel. There will also be the option for automatic transmission.

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Financial inclusion a top priority for P&SBs new CMD
Sanjeev Sharma
Tribune News Service

Jatinderbir Singh New Delhi, February 4
New CMD of Punjab and Sind Bank (P&SB) Jatinderbir Singh has outlined his priorities as: enhancing financial inclusion, ensuring customer-friendly service, modernisation of information technology platform and training of manpower.

An MA (English) and MBA from Australian National University, Canberra, Singh is a 1983-batch IAS officer.

Prior to joining the bank, he was serving as additional secretary in the Ministry of Water Resources. He brings with him a long and varied administrative experience of nearly 30 years in various assignments. He said in a highly competitive industry like banking, a multi-dimensional strategy is required for the bank that looks at various aspects from IT to manpower training.

He has identified enhancing financial inclusion among his priorities. Financial inclusion for the un-banked population has been a major outreach programme of the banking sector and the government.

In addition to boosting priority sector lending, he said meeting industry benchmarks will be a focus area through training of manpower and modernisation of the IT platform.

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Biz talk
Sahara Q eyes revenue of Rs 2,000 cr in FY14
Romie Dutt
Executive Director, Sahara Q talks to Sanjeev Sharma

FMCG and retail company Sahara Q is growing at 30% and will touch revenue of Rs 2,000 crore this year. It has 1,120 outlets in 441 cities across 15 states. Romie Dutt, executive director, Sahara Q, talks to Sanjeev Sharma about the distribution network, penetration in the 'kirana' segment and innovation in the product line.

Q: What is the distribution network of Sahara Q?

A: Sahara Q is an FMCG company manufacturing quality consumer merchandise. These products are sold across the nation through multiple channels, including exclusive brand outlets and conventional 'kirana' stores.

We recently launched Quality Mobile Shop, which is a network of 181 customised vans that travel on a chartered path to take our products directly to the consumers' vicinity. Q Saathi is another innovation in the field of retail that engages women and empowers them financially. Sahara Q also has an e-commerce platform and a call centre where customers can book orders for home delivery. Besides these, we have a dedicated department for distributing products to hospitality and food industry called HORECA.

Q. What is the penetration in the general trade segment?

A: We have more than 1,000 distributors who supply our products to 1.5 lakh 'kirana' stores across 22 states.

Q. How many products are being manufactured?

A: We manufacture close to 900 products in staple, processed food, water & beverages, home care, personal care, home appliances, kitchenware and general merchandise categories.

Q. What is the concept of Quality Mobile Shop?

A: Quality Mobile Shop (QMS) is the first-of-its-kind retail and distribution model in the FMCG sector in the world and a strategic move to fulfil Sahara Q's commitment to cater to the daily needs of customers from areas that have weak supply chain and non-availability of quality products. At present, 181 QMS vans are operating in Uttar Pradesh, Delhi, Haryana, Rajasthan and Bihar.

Quality Mobile Shop aims at increasing awareness. In this a company representative would carry out a live demonstration to explain the concept of adulteration and the harmful effects of common adulterants.

Q. What is the revenue from the FMCG business?

A: We had earned revenue of Rs 1,570 crore in 2012-13. Looking at the current growth of 30% month-on-month, we are eyeing revenue of Rs 2,000 crore in 2013-14.

Q. What is the growth strategy of your company?

A: Te company will concentrate on three aspects of FMCG and retail business. First and foremost is positioning our brand in a way that Sahara Q becomes a preferred choice of consumers for unadulterated and quality products at right price benchmark. Second aspect is expanding the retail network of exclusive brand outlets, QMS, etc., and widening the distribution network to penetrate into interiors of the country. We will continue to innovate our product line to match the changing taste and gastronomical preferences of consumers.

Q. What is the target audience for Sahara Q?

A: We are focusing on all layers of consumer groups as unadulterated food and high quality goods are the need and the right of every consumer. In our distribution model, we have established right channels to reach to every target group. 

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RBI eases third party payment norms for export, import 

Mumbai, February 4
The RBI today liberalised the third party payment norms for import of goods by removing the ceiling of $100,000.

Earlier, the amount of an import transaction for third party payment could not exceed $100,000.

The central bank also simplified certain documentation norms related with third party payments for export and import transactions.

"... with a view to liberalising the procedure, the limit of $100,000 eligible for third party payment for import of goods, stands withdrawn," it said.

The RBI further said the condition "firm irrevocable order backed by a tripartite agreement should be in place" for overseas transactions may not be insisted upon in certain cases by banks. PTI

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