Page 1

VOL-2

Issue 23

23 - 29 May, 2014

Mumbai

www.forevernews.in

RNI No. MAHENG/2012/47728

Weekly

PAGES 8

` 2/-

SBI stock gush 10% as NPA falls, robust outlook G. Subramanian

State Bank of India Chairman Arundhati Bhattacharya announces the annual results of the bank for Financial Year 2013-14 in Kolkata on May 23, 2014. For the whole financial year 2013-14, the company posted a net profit of Rs. 14,174 crore, 20.89 percent lower than the Rs. 17,916 crore recorded in the previous fiscal.

Kolkata: Shares of India’s largest bank, State Bank of India, on Friday shares surged 10% after the bank said there were signs of improvement in asset quality and profit beat analysts’ expectations. SBI had touched a new one-year high ahead of its results, at Rs 2,650, a sharp 30 per cent jump in nearly a week. The bank reported a net profit of Rs. 3,041 crore during the January-March quarter - its fifth

consecutive quarter of decline from Rs. 3,299 crore a year ago. It was, however, higher than analysts’ expectation of a net profit of Rs.2,803 crore according to a Reuters poll. The bank’s net non-performing assets as a percentage of sales rose to 2.57% in January-March from 2.10% a year ago, but were lower than 3.24% NPAs it reported in the October-December quarter. Bank reported a fresh slippages were also lower sequentially at Rs. 7,947 crore

Bullion Association President Praises Modi For Reformation Wave Forever News reporter

In a recently concluded press conference Mr. Mohit Kamboj, President Indian Bullion and Jeweller’s Association (IBJA) praised Modi’s or the thumbing victory and said that “Achhe Din AA Gaye” for the Bullion Market seems to have arrived even before the Prime Minister-elect Narendra Modi could take the mantle. The Indian Bullion and Jewellers Association have welcomed the Reserve Bank of India move to allow Star Trading Houses and Premier Trading Houses to import gold under the 20:80 schemes. Speaking to journalists Mohit Kamboj, President, Indian Bullion and Jewellers Association (IBJA)said the association has presented a detail presentation on various demand of the industry to BJP President Rajnath Singh on February 19, 2014. “We were assured that necessary action would be taken within 30-60 days after the party takes power. We think that BJP has started fulfilling its promise even before it is sworn in,” said Kamboj. The Association expects the Government to

reduce import duty to 4 per cent from 10 per cent soon. The reduction in duty is expected to come in the next 10-15 days or in the Budget to be presented by the new Government, he said. Kamboj expects the gold prices to touch 23,000 to 24,000 per 10 grams before Diwali with spot premium on gold vanishing and the Government reducing the import duty. With the reduction in prices and positive sentiment in the bullion trade, Kamboj expects the demand to improve steadily by Diwali. The Bullion trade in India will revive under the leadership of Narendra Modi’s Government, he said. Coming down heavily on the UPA government, Kamboj said most of the banks exposure to the gem and jewellery has turned bad because of the faulty policy

decision of the previous Government. “We are requesting the RBI to ease the banks NPA norms for the industry, so that the industry can revive and repay the default loan. We need the right business environment to revive our business and pay back the bank loans. We do not want to cheat banks,” he said. Banks have exposure of Rs 2.5 lakh crore to the gem and jewellery industry, of which Rs. 37,000 crore has been classified non-performing asset (NPA). This was largely due to the banks stopping loans to purchase gold in August last year. Under the instruction of the former Finance Minister P Chidambaram and RBI, banks started recalling the gold loans given to the bullion industry, he said. for more information visit www.forevernews.in

compared with Rs. 11,438 crore in the third quarter. Net interest income (the difference between interest earned on loans and interest paid on deposits) rose 16.5% year-on-year to Rs. 12,903 crore, while net interest margin was stable at 3.49%. SBI has managed to reduce its employee cost while simultaneously improving its low-cost CASA (current account and savings account) deposits to 44.43 per cent. As a result the bank has maintained its net

interest margin at 3.49 per cent. “SBI reported healthy performance on the asset quality frontwhileoperatingperformance came ahead of our estimates,” said Vaibhav Agrawal, vicepresident, research, Angel Broking. SBI chairperson Arundhati Bhattacharya said: “We are all optimistic about the new government. We should grow as per the economy. (But) the credit growth will come with a lag.” for more information visit www.forevernews.in


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23 - 29 May 2014

Puzzle 25

2

Recipe of the week Mango lassi Serves : 2 Ingredients Mango pulp from 2 mangoes (I used alphonso) 3/4 cup Curd (plain yogurt) 3/4 cup Milk

1/2 cup

Sugar 3 tblsp Elachi (optional) 1 Method : Wash and slice the mangoes along the sides of the seed. Scoop the pulp with a spoon and collect 3/4 cup. Place it in blender with curd, milk,(both cold) sugar and elachi(if desired). Blend until smooth and serve immediately. You can add few icecubes if you want it super cold. Yummy, thick, rich, filling mango lassi is perfect as drink

Last week’s Solution

Disclaimer : Readers are recommended to make appropriate enquiries and seek appropriate advice before sending money, incurring any expenses, acting on medical recommendations or entering into any commitment in relation to any advertisement published in this publication. ForeverNews doesn’t vouch for any claims made by the Advertisers of products and services. The Printer, Publisher, Editor, and Owners of ForeverNews shall not be held liable for any consequences, in the event such claims are nol Honoured by the Advertisers. Forever News Publisher, Printer, Owner S. Suchithra has Printed at Dangat Media Pvt. Ltd., Mehra Centre, 5, Marwah Estate, Off Saki Vihar Road, Saki Naka, Mumbai : 400 072 & Published at 301 Crystal Apartments, 1st Marine Cross Line, Marine Lines, Mumbai- 400 002. Tel : 22072714 Editor S. Suchithra Email : info@forevernews.in, RNI No. MAHENG/2012/47728 Chief Editor: S. Suchithra - responsible for selection of news under PRB Act (C). All rights reserved. Reproduction in whole or in part without permission of Publisher is prohibited.

10 More Premium Superfast Special Trains Between Pune And Hazrat Nizamuddin Mumbai : Central Railway will run 10 more premium superfast special trains between Pune and Hazrat Nizamuddin to clear the extra rush of passengers during summer holidays as per details given under: Train No. 04013 superfast premium special train will leave Pune on EVERY Friday from 30.5.2014 to 27.6.2014 at 15.15 hrs and arrive Hazrat Nizamuddin at 16.45 hrs next day. Tra i n No . 0 4 014 s u p e r fa st premium special train will leave Hazrat Nizamuddin on every Thursday from 29.5.2014 to 26.6.2014 at 15.50 hrs and arrive Pune at 13.15 hrs next day. HALTS – Daund, Manmad, Bhusaval, Bhopal and Jhansi COMPOSITION: Eight AC-3 Tier, Five AC-2 Tier and One Pantry Car RESERVATION: Bookings will open THROUGH INTERNET for 04013 as under: For Train leaving on 30.5.2014 bookings will open from 20.5.2014 For Train leaving on 6.6.2014 bookings will open from 27.5.2014 For Train leaving on 13.6.2014 bookings will open from 3.6.2014 For Train leaving on 20.6.2014 bookings will open from 10.6.2014 For Train leaving on 27.6.2014 bookings will open from 17.6.2014

for this hot summer!

Notes :

Do not let it stand out for long time, consume immediately as we are using milk. by - S. Suchithra

Weekly Jansadharan Specail Trains between Lokmanya Tilak Terminus and Darbhanga (6 trips) & Varanasi (8 trips) Railways have decided to run of 6 weekly superfast Jansadharan special trains between Lokmanya Tilak Terminus and Darbhanga and 8 weekly superfast Jansadharan special trains between Lokmanya Tilak Terminus and Varanasi to clear the extra rush of passengers. The details are as under: A ) DA R B H A N GA W E E K LY S U P E R FA S T JANSADHARAN SPECIALS (6) 0 2 0 4 9 We e k l y s u p e r f a s t Jansadharan special will leave Lokmanya Tilak Terminus at 16.40 hours on every Thursday from 29.5.2014 to 12.6.2014 (3 trips) and will arrive Darbhanga at 02.25 hours on third day i.e. Saturday. 0 2 0 5 0 We e k l y s u p e r f a s t Jansadharan special will leave Darbhanga at 13.10 hours on every Saturday from 31.5.2014 to 14.6.2014 (3 trips) and will arrive Lokmanya Tilak Terminus at 23.45 hours next day i.e. Sunday. HALTS: Nasik Road, Bhusaval,

K h a n d wa , I t a r s i , M a n i k p u r, Mughalsarai and Patna. B) VA R A N A S I W E E K LY S U P E R FA S T JANSADHARAN SPECIALS (8) 0 2 0 5 5 We e k l y s u p e r f a s t Jansadharan special will leave Lokmanya Tilak Terminus at 16.40 hrs on every Monday from 26.5.2014 to 16.6.2014 (4 trips) and will arrive Varanasi at 19.15 hrs next day i.e. Tuesday. 0 2 0 5 6 We e k l y s u p e r f a s t Jansadharan special will leave Varanasi at 20.10 hrs on every Tuesday from 27.5.2014 to 17.6.2014 (4 trips) and will arrive Lokmanya Tilak Terminus at 23.20 hrs next day i.e. Wednesday. HALTS: Nasik Road, Bhusaval, Khandwa, Itarsi and Manikpur. COMPOSITION: Both the above specials will run with 21 General second class and 2 General second class cum guard’s brake vans. Passengers are requested to please note and avail the facilities.

Shotgun Admitted in Hospital Mumbai: Veteran Bollywood actor and BJP leader ShatrughanSinha, who underwent bypass surgery last year, is undergoing a “routine” check up at a suburban hospital here today.The actor, is currently BJP MP from Patna Sahib in Bihar.Doctors at the hospital remained unavailable for comment.


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Chinese Navy Ships At Visakhapatnam Forever News reporter

Two ships of the PLA Navy, Zhenghe and Weifang, with Rear Admiral Han Xiaohu, Commander PLAN Training Ship Task Group, and Rear Admiral Li Jianjun, Assistant Chief of Staff and Political Commissar of PLA Dalian Naval Academy embarked, a r r i v e d Visakhapatnam today, 17 May, on a four-day maiden visit to the Eastern Naval Command. The visit will encompass interaction between personnel of both the Navies in various professional, cultural, social and sports events. Apart from engaging in friendly basketball and football matches with the Eastern Fleet teams, the PLA Navy personnel will also visit places of interest in Visakhapatnam. The Admirals of the PLA Navy are scheduled to call on Vice

Admiral Anil Chopra, Flag Officer Commanding-in-Chief, Eastern Naval Command. Commisioned in 1987, Zhenghe is a Training Ship that has Commander Ye Kaihua at the helm, and the Frigate

Weifang is commanded by Captain Zhang Zaige. The ships are on a good will visit to four Asian Nations including Myanmar, Indonesia and Vietnam, and are scheduled to depart Visakhapatnam on Tuesday, 20 May for more information visit www.forevernews.in

23 - 29 May 2014

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Rukmani- Navy’s Communication satellite, ready for integration Forever News reporter

On his maiden visit to Headquarters, Western Naval Command, Mumbai, Admiral Rabinder Kumar Dhowan, Chief of the Naval Staff, inspected an impressive ceremonial parade conducted at INS Shikra recently. He complimented the officers and men of the command for maintaining highest professional standards whilst taking up the challenges on the western seaboard in all operational activities. He further urged the men to work selflessly as team so as to meet the myriad of challenges being faced by the nation especially on the maritime front. In his address, he emphasised the necessity of recognising the 21st century as ‘the century of the seas’ and the responsibility of Indian Navy thereof in enforcing the defence of maritime boundaries as also the maritime interests of the country in the Indian Ocean Region. The Admiral brought out that the nation’s economy is indirectly linked to seas and the onus of safeguarding the seas rests squarely with the Indian Navy. In his address the Admiral appreciated the Western Naval Command for maintaining a high tempo of operations including TROPEX – 14, operationalisation of INS Vikramaditya

and optimal exploitation of Rukmani- Navy’s Communication satellite, which gives a tremendous boost and acts as a force multiplier to the ‘Network Centric Operations (NCO)’. The CNS also addressed officers, sailors and civilians of the command during his visit. He exhorted them to continuously work towards maintaining a high level of preparedness and to diligently follow SOPs for safety and security of naval assets. The Admiral was also briefed on the various activities (both operational and administrative) of the command including salvage operations of INS Sindhurakshak. The Admiral also visited a few ships and submarines in the Naval Dockyard.


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23 - 29 May 2014

4

Edit ... An acute shortage of stamp papers in denominations of Rs10, Rs20 and Rs50

S

evere scarcity of court fee stamps and stamp papers in the city. Especially in the denominations of Rs. 10, 20 and 50. Its time the authorities need to have an urgent action to address the ever increasing demand and supply mismatch. Most of the time the stamp counter is closed due to non availability of stamp paper. Even for a small name change affidavit or indemnity bond the required stamp paper if of Rs. 20 however due to non availability of the lower denomination stamp papers one have to shell Rs. 100. Government has allotted many co-operative banks franking facility to save the situation of stamp paper. However there no relief to the citizens as the banks are not willing to do smaller denomination franking, as they kept the minimum stamping amounting to Rs. 100. In either way citizens have to suffer and pay an exorbitant price to the tune of five times more than required. The supply for Mumbai is more than sufficient,” swears the department of treasury. Citizens are faced with a paucity of stamp papers in the city. The complaints about shortage of court fee stamps of re 1 and Rs 2 denominations, and the stamp papers of denominations Rs 20,000 and 25,000 have been rife for almost a year now. Litigants are forced to buy stamps of higher denominations (Rs 4 or Rs 5) to file applications at courts. Sources, however, term it `artificial scarcity’. They blame it on the private stamps and stamp paper vendors who allegedly make a fortune selling them outside the state. Even an official from the Thane sub-registrar’s office had the same answer when we called, “Small denomination stamp papers of Rs10, 20, and even 50 are out of stock and we don’t have any idea about when it will be available.” The government has appointed Stock Holding Corp of India (SHCIL) as the central record keeping agency (CRA) for e-stamping across the country. Estamping is a computer-based application and a secure way of paying non-judicial stamp duty to the government. The prevailing system of physical stamp paper or franking is being replaced by the e-stamping system. However these systems are coping with the greater deand of Rs. 20 stamp paper as each outlet is demanding a minimum stamp of Rs. 100 which is steep hike.

India show reinforcing its global repute in pharma opens

Shri Gopal Shetty, MP inaugurate “iPHEX – 2014” also seen to his left Shri Shudhanshu Pandey, Joint Secretary, Mini. of Commerce & Industry an international exhibition of Pharma & Health Care at Bombay Exhibition Center, Mumbai on Wednesday May 21, 2014. participating with presence of 25 countries G. Subramanian along with over a score of global media Mumbai: With over 500 global persons. “The ‘iPHEX 2014’ is very timely in the companies and regulators participating in the ‘iPHEX 2014’, an international sense that it comes close on the heels of exposition showcasing the country’s certain developments when doubts were manufacturing strength which opened here raised over some of the Indian pharma today, India is reinforcing its standing as a majors’ manufacturing facilities. As was dependable and affordable pharmacy of the highlighted by the Indian Commerce world, the industry body Pharmexcil has Ministry, the problems whatever they arose related only to the paper work and not to said. In the three-day event key partners of the quality of the Indian pharma. Even in the area of following global best India’s pharmaceutical firms are

practices on the paper work, the Indian companies will not be found wanting irrespective of the size of the companies , big or small,” said Pharmexcil Chairman Mr Ashutosh Gupta. He said the Indian generics reach almost all corners of the world with over 50 per cent of exports of the USD 14.5 billion being shipped to the highly regulated markets including US and EU countries. Japan too holds a big potential for Indian pharma sector. Business orders worth several hundred crores are expected to be bagged by Indian exhibitors of drugs and also the manufacturers of drug-making machinery at the xhibition as the country has also emerged as an international manufacturer of the Pharma machinery for production of pharmaceutical products, Director General of the Pharmexcil, Dr P V Appaji said. iPHEX-2013’ had witnessed a big success generating business over Rs 1,000 crore. This year too, it is expected to be a good draw among foreign buyers who are looking for affordable, credible and sustainable source of pharmaceutical supplies, he said. for more information visit www.forevernews.in

Gujarat takes lead in ensuring safe drugs for patients; uses SMSs for recalling not good quality medicine from chemists When it comes to detecting drugs and pharmaceutical products of ‘ not of standard quality’ Gujarat has earned a name for itself in leveraging technology and safeguarding healthcare interest of the consumers thanks to pro-active measures by the state regulator, Dr H G Koshia, Commissioner, Food & Drug Control Administration, Gujarat has said here. Participating in the ‘ iPHEX’ , a three-day international exposition of Indian drugs and affordable medicine , Dr Koshia said , “ the moment a drug sample is detected of not of standard quality (NSQ), bulk SMSs are generated and sent to stakeholders , mainly the chemists , asking them to withdraw the relevant batch or

batches of the concerned drug”. These SMSs go to all chemists across the states and even the government hospitals stocking the NSQ drug. Dr Koshia said, the process has been designed using the information technology which is being used for grant of licences and all other clearances as well. The initiative of the Gujarat Government came in for appreciation from the Union Health and Commerce Ministries . Both the Drug Controller General (India) , Dr G N Singh and Joint Secretary in the Commerce Ministry , Mr Sudhanshu Pandey said that such a project should be used by regulators of all states. In sync with the state governments the DCGI has set

an ambitious target of upgrading quality of the Indian generic medicine manufactured across the country in different clusters. The move is towards making the process of licence granting seamless through I.T . In its presentation before the global media, including some journalists from Africa, CIS, LAC and Middle East which contributes about 60 per cent of India’s USD 15 billion exports , the DCGI officials said as much as Rs 180 crore would be spent on e-governance in the pharma sector. With large resources being committed towards quality improvement by the Centre in cooperation with the state governments, the number of samples picked up for testing will increase from the present

50,000 to two lakh while 10 new laboratories will come up in the next three years under the 12th Plan. M r A s h u to s h G u pta , Chairman of the Pharmexcil, the organisers of the ‘iPHEX’, said the use of technology in the regulatory regime will make life easier for the industry, particularly among the small and medium enterprises. The DCGI officials who have been interacting with buyers from 125 countries at the event said maximum efforts are being put to bring in harmonization among regulatory regimes of different nations. If the patient is similar, medicine is similar , why should regulations not be simple, the question was debated .


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23 - 29 May 2014

5

India to double drug regulators; set up testing labs at ports say top Govt. officials at ‘iPHEX’

The Indian government will more than double the number of regulators in three years and set up stateof- the art testing labs at ports to ensure the pharmaceuticals and drugs exports shipments meet global quality standards while following a zero tolerance policy for any laxity, senior officials from the Health and Commerce Ministries said at the international exhibition for pharma and healthcare ‘ iPHEX’ said here today. The strong message was sent at the three-day event beginning today with

buyers from 125 countries thronging the exposition. Addressing a press conference Dr G N Singh,

Drugs Controller General (India) after inauguration of the ‘ iPHEX’ , Dr Singh said the Central Government will be sending over Rs 3,000 crore in the next three years (under the 12th Plan) towards enhancing the capacity of the regulators both at the Centre and state levels. While the number of regulators will increase to 1,000 from 500 at the Central level, as many as 3,000 regulators will be deployed at the state levels. In India, the regulatory system works at the dual level – at the Central and state levels. “ India’s reference system ( for drugs testing and IP) will be at par with the top world standards in two-three years and

media that the Union Government is following a “ zero tolerance” policy for ensuring that India not only maintains but further strengthens its ranking in the world pharmaceuticals market. He said these measures on quality assurance are even more important when a big opportunity would be unfolding in the off-patent generics in the next few years. “ More than 160 drugs

will even match the US in three-five years,” Dr Singh said . India’s regulators including DCGI himself along with state level FDAs have all gathered here at the ‘ iPHEX’ , organized by the industry body Pharmaexcil and are engage d in deliberations with regulators from 40 countries. Joint Secretary in the Commerce Ministry, Mr Sudhanshu Pandey, told the

will go off-patent till 2018 …” he said. When asked about some concerns , Mr Pandey made it clear. “ Government stands behind zero tolerance when it comes to human lives. Indian laws are the toughest,” he said. Chairman of the Pharmaexcil Mr Ashutosh Gupta said the industry and t h e gove r n m e n t a re working in tandem to increase the spend on the

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Research and Development . The industry has also been i n to u c h w i t h t h e government seeking special package for the small and medium enterprises under the Technology Upgradation Fund. Over 50 0 global companies from 125 countries are participating

in the three-day exposition showcasing India’s manufacturing strength. “ The Indian pharmaceutical industry is preparing for the next level of scaling up with the help of regulators and will be on top of the quality,” Director General of the Pharmaexcil Dr P V Appaji said.

Chairman of the iPHEX Organising Committee Mr Bhavin Mehta said the ‘iPHEX’ has become a much sought after event among the global buyers who are looking up to India as a dependable source of affordable drugs. for more information visit www.forevernews.in


Corp Diary

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India and Brazil Must Forge Ties towards Economic Prosperity says Ms. Soares

Mr. Vijay Kalantri, President, AIAI & Vice Chairman, MVIRDC WTC presenting a bouquet to Mr. Elson de Barros Gomes Jr., Consul of India in Minas Gerais. Others (L-R): Mr. Y R Warerkar, Executive Director, MVIRDC WTC , Mr. Sharad Upasani, Vice Chairman, MVIRDC WTC, Mr. Leonardo Ananda Gomes, Executive Director of the India Brazil Chamber of Commerce, Ms. Rupa Naik, Executive Director, AIAI and Director- Projects, MVIRDC WTC during an interactive meeting organised by the All India Association of Industries, MVIRDC World Trade Centre and the Consulate General of Brazil in Mumbai.

Shri Ravi M. Parmar New MPPT Chairman Shri Ravi M. Parmar, IAS has taken over as the Chairman, Mumbai Port Trust with effect from 21st May, 2014. Shri Parmar was Dy.Chairman, MbPT since February, 2013. He has done MA in Public Administration from Maxwell School of Citizenship and Public Affairs, Syracuse University, New York, USA. During his career spanning more than 22 years, Shri Parmar has held several key posts in the Central/State Government in sectors such as Health, Transport, Steel, Industrial Development, etc. Shri Parmar is currently holding the additional charge of Chairman, Kandla Port Trust since January, 2014.

23 - 29 May 2014

SBI DONATES RUPEES TWO CRORES

Smt. Arundhati Bhattacharya, Chairman, State Bank of India handed over a cheque for Rs. 2.00 crores to the General Secretary of Ramakrishna Sarada Mission at a small function held on 22 nd May 2014 at Mission’s premises, to supplement their venture for construction of Swami Vivekananda Educational Complex - a School of Nursing to be run under Ramakrishna Sarada Mission Matri Bhavan. Bank’s Dy. Managing Director Shri Sunil

Srivastava, Chief General Manager Smt Anuradha Rao, General Managers Shri Vinod Pande and Sri Kunjal Prasad and

Ramakrishna Sarada Mission Matri Bhavan For Construction Of School Of Nursing top executives of the Bank were present on the occasion. The donation was made under the Bank’s Corporate Social Responsibility activity. Seen in the picture SBI Chairman Smt.

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Arundhuti Bhattacharya at the centre, on her right Pravrajika Amalaprana, next to her Pravrajika Jnanadaprana, Genrral Secretary and Asst General Secretary of Sri Sarada Math and Ramakrishna Sarada Mission respectively and left to the Chairman Pravrajika Anirvanaprana, Secretary, Ramakrishna Sarada Mission Matri Bhavan and next to her Shri Sunil Srivastava, Bank’s Dy. Managing Director.

LIC’s 54th All India Sr. Divisional LIC Launches its first Online Term Insurance Plan – “LIC’s e-Term” Managers’ Conference

India Releases Stamp on Drukpa Lineage Department of Post, Ministry of Communication and IT, Government of India recently celebrated Buddha Poornima with the release of a commemorative stamp on the Drukpa Buddhists. The Drukpa Lineage, based in the Himalayas, is the most prominent Buddhist lineage in India. The commemorative stamp celebrating the 999 years of Drukpa Lineage was released by Shri SK Sinha, Member (HRD), Department of Post in the august presence of the Gyalwang Drukpa, spiritual head of Drukpa Buddhists and Drukpa Thuksey Rinpoche, spiritual regent of the lineage, at a glittering ceremony in Delhi.

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54thAll India Sr. Divisional Managers’ Conference, annual strategy meeting of LIC of India is being held in Mumbai from 19th to 21st h May 2014. The meeting began with address by Chairman and Managing Directors of LIC of India. Zonal heads from eight different Zones as well as all operational heads in the rank of Executive Directors from Corporate Office are present in the meeting. Divisional Heads representing 113 divisions all across the country are also present to participate in deliberations for finalizing strategy on various aspects of marketing, policy servicing and new initiatives for the current financial year. During the year 2013-14 LIC has registered a Market share of 84.44% in number of policies and 75.33% in first year premium income. The achievers of the last year were felicitated during the conference. Syndicate discussions and strategies for the objectives for the current year are also in the Agenda for the conference. for more information visit www.forevernews.in

LIC of India, the market leader in the Life Insurance sector has launched the much awaited Online term insurance plan , “LIC’s e-Term Plan” , today with LIC Chairman Shri S. K. Roy handing over the First Premium Receipt to the first LIC’s e-Term policyholder. This is a regular premium paying pure protection plan which will be sold online only. Under this plan there are two categories of premium rates viz. (1) Aggregate and (2) Nonsmoker. The Non- smoker category, where insurance will be granted for Rs.50 lac

and above, will have premium rates lower than Aggregate category with certain conditions. Minimum Sum Assured for Aggregate category is Rs.25lac. The plan is available for persons from ages 18 years to 60 years with term ranging from 10 to 35 years. The cover ceases at Age 75. The mode of payment of premium is annual and through online mode only The customers can buy this plan by logging on to LIC’s website www.licindia. in and following simple instructions.

The President, Shri Pranab Mukherjee administering the oath to Shri Rajiv Mathur as Chief Information Commissioner, at a swearing-in ceremony, at Rashtrapati Bhavan, in New Delhi


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23 - 29 May 2014

VISIT OF BNS ALIHAIDER AND BNS NIRMUL TO MUMBAI FROM 21 TO 23 MAY 14

Forever News reporter

Bangladesh Navy Ships Ali Haider and Nirmul are on a goodwill visit to Mumbai from 21 to 23 May 14. The ships are commanded by Capt Mohammad Anwar Hussain and Cdr Tanzim Faruq respectively and have a combined complement of 320 personnel. The ships are enroute to Lebanon as part of United Nations Interim Force in Lebanon (UNIFIL). This is the first occasion when Bangladesh Naval ships have visited Mumbai. Hence the current visit by BN ships holds special significance

for the Western Naval Command. During the ships’ stay, crew will engage in professional interactions with personnel of Western Naval Command. India and Bangladesh enjoy historical bilateral relations, built upon shared culture, geography and people to people contact, The Indian Navy has been in the forefront to train Bangladesh Naval Personnel. Visit by the ships would further enhance bilateral relations between the two countries in general and the two Navies in particular. for more information visit www.forevernews.in Air Marshal AP Garud, Air Officer Commanding, Southern Air Command, (extreme left in the picture) arrived on a two day visit to Mumbai. He visited Head Quarter Maritime Air Operations (HQMAO) based at Mumbai. During the course of the visit he reviewed the progress of various operational tasks of HQ MAO.

Global crude oil price of Indian Basket increased to US$ 108.03 per bbl on 21.05.2014 The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas went up to US$ 108.03 per barrel (bbl) on 21.05.2014. This was higher than the price of US$ 107.48 per bbl on previous

publishing day of 20.05.2014. In rupee terms, the price of Indian Basket increased marginally to Rs 6348.92 per bbl on 21.05.2014 as compared to Rs 6314.45 per bbl on 20.05.2014. Rupee closed weaker at Rs 58.77 per US$ on 21.05.2014 as against Rs 58.75 per US$ on 20.05.2014.

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RCF Super ­30 recorded thumping success Mumbai : RCF Super ­ 30 recorded thumping success in very first year of its operation. Out of total 31 students, 29 students cleared IIT mains. R. G. Rajan, CMD, RCF., felicitated RCF Super30 students for their selection in IIT mains in presence of C. M. Britto, Director (Tech.), Ashok Ghasghase, Director (Mktg.), P.G. Deshpande, ED (HR), Shri. R. B. Patil, ED(F)&CSO, Shri. A. B. Kundu, ED (P&PD) and other officials. This project on the lines of “Abhayanand

Super-30“ aims at enabling the bright and underprivileged students from interior of Maharashtra villages to train for selection in IITs, NITs and other prestigious engineering colleges.

ONGC advances two places in Forbes Global Oil and Gas Club Indian Energy Maharatna ONGC has moved up two places in Forbes ranking of the global players in oil and gas operation industry. ONGC has moved up two places to 21st position from previous 23rd it held last year. In the overall Forbes Global 2000 list, ONGC is ranked at 176th. It is third among 54 Indian

companies which made it to this list of 2000. Forbes compiles this Global list by screening for the biggest public companies in the world on four metrics: Sales, Profits, Assets and Market valuation. The composite of the four metrics, as on 1st April, 2014, has been considered for the ranking.

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The table below gives details in this regard

Particulars

Unit

Price on May 21, 2014 (Previous trading day i.e. 20.05.2014)

Crude Oil (Indian Basket)

($/bbl)

108.03

(107.48)

(Rs/bbl

6348.92

(6314.45)

Exchange Rate

(Rs/$)

58.77

(58.75)

Pricing Fortnight for16.05.2014 (April 29 to May 13 , 2014) 105.80

Rs. 1000

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23 - 29 May 2014

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First annual examination of Aljamea-tus- Saifyah KitchenAid India launches its Pro Line Cordless Hand conducted by Syedna Mufaddal Saifuddin as the Blender and blend with Master Chef Vikas Khanna religious head of the community Forever News reporter

Forever News reporter

MUMBAI: The 76th Imteehan Sanawee (annual examinations) of the Dawoodi Bohra community’s 200 year old educational institute, Aljamea-tus-Saifyah is currently taking place over a period of ten days at the Saifee Masjid in Bhendi Bazar. In line with community tradition, the examinations are being personally conducted by the head of the Dawoodi Bohra community, His Holiness Syedna Mufaddal Saifuddin. On Sunday, 18th May, His Holiness commenced the annual examinations with an address to members of the community. Thousands of his followers attended this sermon which was also broadcasted live to all community centers world over. In this address he reaffirmed the need for community members to seek a comprehensive education. He mentioned that the number and spectrum of professionals within the community ranks are a source of pride and prayed for this number to increase. In his

Syedna lays strong emphasis on women empowerment through education address, Syedna also stressed “that regardless of the educational qualifications one attains, service to humanity should remain the utmost priority”. He also laid strong emphasis on women empowerment through education said an official from Syedna’s office. Apart from written examinations, the senior students also appear for oral examinations. These examinations take place in the presence of His Holiness, as well as in front of more than 2000 community members that include community leaders, professionals and

His Holiness Syedna Mufaddal Saifuddin Looking at Examination.

business heads. Students are questioned on a variety of topics that range from Islamic jurisprudence, philosophy and history to political science, economics and literature and are asked to relate their learning to contemporary issues and real world application said Mehlam Hakimuddin, a nephew of Syedna and one of the chief coordinator of the examinations. The proceedings are primarily conducted in Arabic, English and Lisane-Dawat - the community language. From amongst student strength of 1750, spread over four campuses in Surat, Karachi, Mumbai and Nairobi, 1250 students are appearing for their examinations here in Mumbai. “This is the first examination conducted by Syedna Mufaddal Saifuddin as the community’s spiritual leader” informed Khuzaima Shajapurwala, Dean of Aljamea-tusSaifiah. mail your news at info@forevernews.in

Students attending Oral Examinations at Saifee Masjid in Bhendi Bazar.

KitchenAid India today launched its powerful and sophisticated dynamic appliance - The KitchenAid Pro Line Cordless Hand Blender in association with Master chef Vikas Khanna in Mumbai. The launch is a part of multi city #Blendappetit Tour spanning across India starting from May 20, 2014 in association with Arttd’inox , Foodhall and Ezone. While, the cordless blender is a unique, first of its kind, versatile product, it comes with an ultimate experience of ‘anytime anywhere’ blending. The launch of Masterchef Vikas Khanna’s book- Hymns from the Soil, the first book on Indian vegetarian food and a tribute to Mother Earth, with Amazon also grace the occasion.

Forever news 23 29  

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