Tuesday, December 1, 2015

Yes Bank & OPIC Inks $265 Million deal for SME Development

Private sector Yes Bank said said it has signed loan agreements worth $265 million with the US government's development finance arm, OPIC, and Wells Fargo to support small business development in India. 
"Yes Bank has signed an agreement with Overseas Private Investment Corporation (OPIC), the US government's development finance institution, for debt financing of $245 million to increase lending to micro, small and medium enterprises (MSMEs) in India," Yes Bank said in a stock exchange filing about the agreement signed in Washington DC. 

American Wells Fargo Bank will be sponsor and co-lender to the project, providing a loan of $20 million, to bring the total facility amount to $265 million, it added. 
"MSMEs are the growth engines and employment generators of our economy, and access to banking credit is one of the key enablers. This significant co-financing agreement of Yes Bank with OPIC and Wells Fargo will help further accentuate Yes Bank's ability to address unique needs of SME and MSME sectors," said Yes Bank chief executive Rana Kapoor. 

"OPIC's exciting partnership with Yes Bank, a proven Indian lending institution, and Wells Fargo will spark inclusive economic growth in India," said OPIC president Elizabeth Littlefield. 

"Wells Fargo is pleased to sponsor this important facility on behalf of Yes Bank and work with OPIC as they continue to support Yes Bank's lending to the small and micro businesses vital to economic growth in India," said Wells Fargo's International head Richard Yorke. 

The commitments by OPIC and Wells Fargo were made during US President Barack Obama's visit to India in January.


India's GDP Up 7.4% in Q2 of FY 2015-16 & Manufacturing Sees Robust Growth of 9.3%

India's economy picked up pace in the second quarter of the current fiscal, comfortably outpacing China in the same quarter, but the stronger growth has dampened hopes of a rate cut when the Reserve Bank of India reviews its monetary policy on tomorrow. 

India's GDP rose 7.4 % in the second quarter of 2015-16, in line with expectations but faster than the 7% growth recorded in the preceding three-months. China's GDP rose 6.9% in the same quarter. 

The high growth was driven by a robust 9.3% rise in gross value added (GVA) in the manufacturing sector. 

Despite a poor monsoon, agricultural sector did better than expected with a 2.2% rise in GVA versus 2.1% YoY. 

The GDP growth had declined to 7% in April-June quarter from 7.5% in the previous quarter raising concerns that the recovery was not shaping well. 

RBI is expected to maintain interest rates after consumer inflation rose to 5% in October and the strong manufacturing growth numbers. 

The stronger growth will provide a boost to the Narendra Modi government in the ongoing parliament session wherein it is looking to pass key legislation including constitutional amendment bill to launch the goods and services tax ( GST). 

GDP at constant (2011-12) prices in Q2 of 2015-16 is estimated at Rs 27.57 lakh crore, as against Rs 25.66 lakh crore in Q2 of 2014-15 showing a growth rate of 7.4%, according to data released by the Central Statistics Office, Ministry of Statistics and Programme Implementation. 

Quarterly GVA for quarter was estimated at Rs 25.80 lakh crore, as against Rs 24.02 lakh crore in Q2 of 2014-15, showing a growth rate of 7.4 % over the corresponding quarter of previous year. 

As per the official data, the economic activities which registered growth of over 7.0 % in the second quarter were trade, hotels and transport and communication and services related to broadcasting, financial, insurance, real estate and professional services and manufacturing. 

The growth in the 'agriculture, forestry and fishing', 'mining and quarrying', 'electricity, gas, water supply & other utility services, 'construction' and 'public administration, defence and other services' was 2.2 %, 3.2 %, 6.7 %, 2.6 % and 4.7 %, respectively, during this period. 


Monday, November 30, 2015

Microsoft’s Lumia 950 & 950 XL Rides On Cortana, Iris Scanner & Windows 10 OS Technologies

Microsoft has announced the launch of Lumia 950 and Lumia 950 XL, the first Lumia phones to come pre-loaded with Windows 10, in India. Designed to offer consumers the best of Windows 10 combined with powerful and performance driven technology, the new flagship devices include innovative features like Cortana, Windows Hello beta for Lumia and Continuum for phones. With stunning HD displays, new PureView cameras with 20 megapixel sensors and triple LED natural flash that shoots 4K video, as well as the latest in processing power, the Lumia 950 and Lumia 950 XL represent the best innovation from Microsoft.

Starting today, the Lumia 950 and Lumia 950 XL will be available for pre-booking at Microsoft Priority Resellers across the country, Microsoft Store on Amazon.in and retail chains of Croma, Reliance and Sangeetha at a best buy price of Rs 43,699 and Rs 49,399 respectively. Consumers will get Microsoft Display Dock free as a limited period offer.

Airtel consumers can double their data for free on purchasing their Lumia 950 and Lumia 950XL. 

“With the launch of Windows 10, we have ushered in an era of more personal computingwhich is all about interacting more easily, more naturally and more securely in a mobile-first, cloud-first world. Now, with Windows 10 on Lumia we take innovation to the next level and build upon the unique experiences of Windows 10 for phone users,” said Bhaskar Pramanik, Chairman, Microsoft India. “Designed for Windows fans and mobile professionals who desire a premium phone that takes full advantage of Windows 10, the new flagship devices are powerful, performance-driven, unique and innovative he added.

“Smartphones, along with the other gadgets we use on a daily basis are expected to add value to our lives and to make us more efficient and productive. The Lumia 950 and Lumia 950 XL have been designed to be the most productive smartphones to fulfill that expectation,” said Ravi Kunwar, Director, Microsoft Mobile Devices. “The Lumia 950 and Lumia 950 XL deliver a seamless experience that extends across one's Windows devices, including innovative features like Cortana, Windows Hello beta for Lumia and Continuum for phones, ushering in the next level of innovation.”

Features of Lumia 950 and Lumia 950 XL Includes:
Lumia 950 and Lumia 950 XL are the first Lumia phones to come pre-loaded with Windows 10 – delivering on our promise of one familiar and consistent experience that transitions seamlessly across Windows devices from key apps like built-in Office to access all your files, both personal as well as professional, via OneDrive and the cloud.
* Both Lumia 950 and Lumia 950 XL feature Continuum for phones, enhanced by the optional Microsoft Display Dock accessory. This Windows 10 feature allows people to use their phone like a PC by connecting it to a monitor and transforming it for larger-screen entertainment, or adding a keyboard and mouse to work like a PC with Windows 10 apps like Microsoft Office, while simultaneously taking calls or performing other tasks.
* As the latest premium handsets, these phones boast superior performance. Both devices feature a QuadHD AMOLED display featuring 518 ppi for Lumia 950 XL and 564ppi for Lumia 950, which means photos, videos and even simple reading show up well, even in sunlight.
* Microsoft’s PureView technology is built into both Lumia 950 and Lumia 950 XL cameras, boasting a 20MP sensor and triple LED natural flash. The camera captures the perfect image, even in the most challenging conditions, and those photos can be automatically synced across all Windows 10 devices with the Windows Photo app and shared easily with friends and family. Both Lumia 950 and Lumia 950 XL come with 5MP wide angle front camera.
* Integrated with Cortana, these phones are perfect for those who want to stay organized and efficient. Cortana works across your entire Windows 10 device family, but is with you all the time with these phones. Set her up to give news updates, calendar reminders, messages, appointments or even flight information.
To make this all possible, both phones also have the latest-generation Qualcomm Snapdragon processors to get these things done faster.

Danfoss Showcases Mobile Hydraulics, Electronics Drives to Save Energy, Reduce Emissions

Danfoss India, the Indian subsidiary of Danfoss, a global evangelist for energy efficiency in the infrastructure, Energy, Climate and food sectors participated in the 8th Edition of Excon, CII’s bi-annual event, bringing Indian & Global stakeholders across the infrastructure sector in India on a single platform. This year, Danfoss is showcased its varied mobile hydraulics solutions catering to Construction, Material Handling, Mining and Agriculture sectors.

Danfoss products & system solutions play   key role in saving fuel costs, reducing emissions and improving man-machine safety. In fact, many OEMs across the globe rely on Danfoss Power Solutions, to power, propel, control and steer their off highway machines efficiently, safely and reliably.

According to the Global Construction Outlook 2020 market research the global construction industry is projected to grow from US$7.4 trillion in 2010 to US$8.5 trillion in 2015 and to US$10.3 trillion in 2020. Emerging markets accounted for more than half of the world's construction output for the first time ever in 2012 (at 2010 US$) and by 2020 it is estimated to have a 56% share. Manufacturers of construction equipment are also focusing on cutting costs during manufacturing of their machinery, and a great part in which costs can be reduced is the assembly of machinery components.

Backed by vast experience in applying hydraulics to both mobile and off-highway solutions, Danfoss power solutions portfolio encompases applications for the entire construction industry. Danfoss Power Solution products are widely used by global OEMs on their Construction machinery, road machinery & mining machines. Danfoss pressure sensors and solutions are now widely used in excavator, cranes, concrete machinery, piling machinery, road machinery, trucks and other areas, while Danfoss temperature sensors are highly recognized in the industry for its outstanding performance.

The construction sector is a major employment driver with many ancillary industries such as cement, steel, brick, timber and building material depending on it. Reports indicate that a unit increase in expenditure in this sector has a multiplier effect and the capacity to generate income as high as five times. With India’s ambitious development goals, the need for infrastructure will continue to increase and this gives ample growth opportunities for the construction vehicles industry too. Backed by intelligent automated solutions like those provided by Danfoss, the industry stands to gain in both efficiency and productivity. We look forward to the interaction with varied stakeholders at EXCON and are certain of our expertise being conveyed at the perfect forum for the industry,” said, Bharat Bhushan, Country Manager Sales, Danfoss Power Solutions.

Some of the products displayed at the exhibition include Hydrostatics closed circuit piston pumps and motors, Open circuit piston pumps, Orbital Motors, Steering Units & Systems, PVG Proportional Valves & electronic components in addition to newly launched products like Electronic Torque Limit Control pumps, and Telematic solutions. These part & components find applications inConstruction equipment, Road building machines, Material Handling equipment, Specialty equipment and Agricultural machines. High power VLT drives dedicated for Crane and Material handling application is also being showcased.

“With energy efficiency gaining increasing prominence given the government’s thrust on lowering dependence on conventional sources of energy, it is imperative that all industries work towards lowering their energy intensity. Building the necessary Infrastructure to help achieve our development goals will require all stakeholders from the industry to contribute their bit towards efficiency led productivity to ensure that the sector lowers its dependency on fossil fuels,” added Rajesh Premchandran, Vice President Refrigeration and A/c Division.

Bharat Electronics Pays Tribute to Sir M Visvesvaraya Through CSR

Navaratna Defence PSU Bharat Electronics Ltd (BEL) is, as part of its CSR activities, paying tributes to Sir M Visvesvaraya by providing various facilities to two government schools in Kandavara and Chikkaballapur near Bangalore, Karnataka, where this eminent engineer and statesman had done his schooling.

BEL has constructed a Digital Library, gate and compound wall for the Government Model Higher Primary School, Kandavara, where Sir M Visvesvaraya had studied from Class I to V. The school has been painted and the classrooms renovated. BEL has also provided solar lighting for the school, apart from furniture for the Digital Library, at a total cost of Rs.32 lakhs. The Government High School at Chikkaballapur where Sir Visvesvaraya studied from Class VI to VIII has been provided with separate toilet blocks for boys and girls, at a cost of Rs.18 Lakhs.

The new facilities for the two schools will be formally handed over to the Deputy Director of Public Instructions, Chikkaballapur, Department of Public Instruction, Government of Karnataka, by Amol Newaskar, Director (Other Units), BEL, tomorrow (December 1, 2015). Senior officers from BEL including G Raghavendra Rao, Executive Director (HR)/BEL Corporate Office, Veeresh D Bevinamarad, General Manager (HR)/BEL-Bengaluru, and Arunachalam G, General Manager, (Engineering Services)/ BEL-Bengaluru, will be present.

BEL took up the two projects on the request of the then DDPI, Chikkaballapur, in February 2015. The schools at Kandavara and Chikkaballapur were selected as they were close to Muddenahalli, the birth place of Sir Visvesvaraya. The BEL team visited the two schools and found them lacking in infrastructure and sanitation. The entire work in the two schools was completed in time without compromising on quality.

BEL sets aside 2% of its net profits towards Corporate Social Responsibility (CSR) projects and activities, for the benefit of the poor and the marginalised sections of the society. BEL’s CSR policy broadly covers areas such as health care, education and skill development, rural development, sanitation and potable drinking water, environment sustainability and conservation of natural resources.

Saturday, November 28, 2015

RLE Eyes 20 Million Euros Revenue and 4X Jump in Headcount India by 2020

RLE International, a global development, technology and consultation services provider, today announced its aggressive business expansion plans for India and said it expects its revenue in the country to reach 20 million euros by 2020. Likewise, the company is also looking to scale up its employee strength in India from 250 to 1,000 by 2020.

"The company's current revenue in India stands at 5 million Euros and is expecting to reach 20 million Euros by 2020," newly-appointed RLE India Private Limited Managing Director Vijay Machigad told reporters here. 

RLE International is planning to make significant investments on skill development and to set up several Centers of Excellence in the next five years in India which would support the RLE Group's overall business across the geographies, Machigad said.

"RLE India is creating two focused growth engines in India - Product Engineering and Manufacturing Engineering and is also planning to invest 10 per cent of its revenues annually towards expansion of its business portfolio," he added.

The company's focus in India lies in building innovative solutions in Lean Engineering, Manufacturing Engineering, Automotive Electronics, Light Weight Materials and Vehicle Safety, Machigad stated.

"We aim for RLE India to become a leading player in 2-3 niche segments in India, to become one of the top 3 players in transportation segment and to broaden its footprint into Indian market, adding more Original Equipment Manufacturers (OEMs) and tier 1 customers in transportation segment," said Darren Gowland, Group Vice President International Operations, RLE International.

Over the past 10 years, the company has strengthened business relations with key Indian Original Equipment Manufacturers (OEMs) and Suppliers and is now looking to scale up their business in the country with an expectation of 30 per cent YoY growth, he said.

RLE International MD and COO Robert P Rupa said the Indian market is challenging but the company has the right expertise, experience and investment strategy to grow further.

Speaking about the challenges in the Indian market, Machigad said there seems to be a lack of availability of high-end skill set and RLE plans to invest on skill development as well as leverage its global expertise to offer niche solutions in India.

Can LiFi Technology Really Offer 100 Times Faster Speed Than WiFi ?

A new technology, known as LiFi, could one day offer internet speeds one hundred times faster than the WiFi we use today. Scientists have achieved speeds in the lab of up to 224 GB per second. 

That's the equivalent of downloading 18 movies in the blink of an eye. LiFi, or light fidelity, is now moving to trials in the real world, with office tests in Tallin, Estonia achieving speeds of 1 GB per second, 100 times the speed of traditional WiFi. 

The world's ever-growing desire for more data at faster rates is pushing WiFi's capacity to its limits. WiFi is achieved by transmitting data through radio waves, but can only transfer so much at a time. By 2019, it is estimated that the world will be exchanging roughly 35 quintillion bytes of information each month. Because radio frequencies are already in use and heavily regulated, that data is going to struggle to find a spot in line. WiFi is simply running out of space. 

Capacity is only part of the problem. WiFi is not a terribly efficient solution. The base stations responsible for transmitting radio waves only function at about 5 per cent efficiency, most of the energy being used to cool the stations. For those transmitting sensitive data, security is also a problem, as radio waves travel through solid objects such as walls and doors. 

Like radio waves, visible light is part of the electromagnetic spectrum. The difference is that viable light has a spectrum 10,000 times larger than radio waves. This means LiFi has the potential for enormous capacity. Instead of transmitting information via one data stream, visible light would make it possible to transmit the same information using thousands of data streams simultaneously. 

LiFi works by flashing LED lights on and off at incredibly fast speeds, sending data to a receiver in binary code. It's essentially an ultra-fast version of turning your flashlight on and off to create morse code. The flashes occur so fast that they are not seen by the naked eye. 

All one need to do is fit a small microchip to every potential illumination device and this would then combine two basic functionalities — illumination and wireless data transmission. In In other words, the infrastructure is already there. We can use the LED bulbs we already have, with some tweaking.