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State Bank of India staffer in Gujarat commits suicide, wife blames ‘work pressure’

State Bank of India staffer in Gujarat commits suicide, wife blames ‘work pressure’

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Ahmedabad: A 33-year-old cashier with the State Bank of India allegedly committed suicide on Tuesday by hanging himself from a ceiling fan at his residence at Tharad in Banaskantha district, police said.

Though the police refused to assign any motive to the extreme step taken by Prem Shankar Prajapati, his wife said he had talked about “heavy work pressure” at Tharad branch of the bank.

Representational image. ReutersRepresentational image. Reuters

Representational image. Reuters

He originally belonged to Barmer in Rajasthan.

“Prajapati was a native of Barmer and has been working as a cashier at SBI’s Tharad branch for last one-and-half-years. Due to some unknown reasons, Prajapati committed suicide by hanging himself from ceiling fan today morning. We have not found any suicide note from the spot,” said Tharad police inspector J G Chavda.

However, Prajapati’s wife Manjula claimed her husband had once complained about the work pressure.

“My husband used to remain tensed after coming home from the bank. He once said that there is so much work pressure. He did not talk much due to tension,” Manjula told reporters outside police station.

First Published On : Dec 20, 2016 17:43 IST

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IND vs ENG | Dec 16th, 2016

ENG 207 10 88.0

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Murray, Kerber named ITF players of the year | Reuters

Murray, Kerber named ITF players of the year | Reuters

Dec 13, 2016 22:21 IST

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LONDON Briton Andy Murray and Germany’s Angelique Kerber were named ITF World Champions on Tuesday, capping stellar years for the men’s and women’s world number ones. Murray, whose brother Jamie was named doubles World Champion along with Brazil’s Bruno Soares, won Wimbledon in July before becoming the first player to win two Olympic singles gold medals when he retained his crown in Rio de Janeiro in August.He won nine titles in a milestone year that ended with him beating rival Novak Djokovic to win the ATP Tour Finals and seal the year-end rankings top spot.

“It means a lot to me to be named ITF World Champion. I have had such a memorable year,” Murray said in a statement. Kerber enjoyed an equally impressive season, winning the Australian and U.S. Open titles as well as an Olympic silver medal in Rio.

She becomes the first German to win the award since Steffi Graf claimed the last of her seven in 1996.

(Reporting by Toby Davis; Editing by Tony Jimenez)

This story has not been edited by Firstpost staff and is generated by auto-feed.

First Published On : Dec 13, 2016 22:21 IST

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Samsung Elec says reviewing shift to holding company structure | Reuters

Samsung Elec says reviewing shift to holding company structure | Reuters

Nov 29, 2016 05:19 IST

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SEOUL Samsung Electronics Co Ltd (005930.KS) said on Tuesday it is reviewing options for its optimal corporate structure including the possibility of establishing a holding company amid growing calls for improved transparency and governance. Samsung, in a statement, said it is also considering the potential benefits of listing its shares on other overseas markets and hired advisers for a thorough review.

“The review does not indicate the management or the board’s intention one way or another,” the company said, adding the review process would take at least six months.

(Reporting by Se Young Lee; Editing by Stephen Coates)

This story has not been edited by Firstpost staff and is generated by auto-feed.

First Published On : Nov 29, 2016 05:19 IST

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IND vs ENG | Nov 26th, 2016

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NZ vs PAK | Nov 25th, 2016

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Thyssenkrupp leaves open possibility of keeping steel majority | Reuters

Thyssenkrupp leaves open possibility of keeping steel majority | Reuters

Nov 24, 2016 19:46 IST

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FRANKFURT Thyssenkrupp executives left open the possibility on Thursday that the German industrial group could keep the majority in any new entity formed by a merger of its European steel operations with those of a competitor.”The most important thing for us is that by a consolidation and by the underlying plan we can address the issues of overcapacity,” Chief Finance Officer Guido Kerkhoff told analysts on a conference call.”We have never stated consolidation, non-consolidation or discussed percentages and we don’t do that today either.”

He added that an initial public offering of the business without a merger would offer no solution to the underlying overcapacity issue.

(Reporting by Georgina Prodhan)

This story has not been edited by Firstpost staff and is generated by auto-feed.

First Published On : Nov 24, 2016 19:46 IST

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AUS vs SA | Nov 24th, 2016

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Tata board was divided over $12-billion Corus deal: ousted chairman | Reuters

Tata board was divided over $12-billion Corus deal: ousted chairman | Reuters

Nov 22, 2016 18:28 IST

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NEW DELHI Ratan Tata‘s decision to acquire steelmaker Corus for more than $12 billion, when a year earlier it was available at half the price, went against the reservations of some board members and senior executives, Cyrus Mistry said on Tuesday.Mistry, who was last month ousted as chairman of Tata Sons, the holding firm for the $100 billion steel-to-software Tata empire, said in a statement that this decision made it harder to invest in the acquired assets and placed jobs at risk.

In the statement Mistry also defended his involvement in growing the revenues and profits at two key group companies, Tata Consultancy Services (TCS.NS) and Tata Motors (TAMO.NS), that make up the bulk of Tata’s $100 billion revenues.

(Reporting by Aditi Shah; Editing by Douglas Busvine)

This story has not been edited by Firstpost staff and is generated by auto-feed.

First Published On : Nov 22, 2016 18:28 IST

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Tripura bypolls: Vote counting begins in Barjala, Khowai

Tripura bypolls: Vote counting begins in Barjala, Khowai

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Agartala: The counting of votes of the by-elections to the Barjala and Khowai assembly seats in Tripura began on Tuesday, an official said.

Representational image. PTI

Representational image. PTI

Polling for the two scheduled caste reserved seats in Tripura took place on Saturday amidst tight security.

The Barjala seat fell vacant after Congress legislator Jitendra Sarkar resigned on 6 June following an internal feud within the party while the Khowai seat turned vacant following the death of veteran CPI-M legislator Samir Deb Sarkar.

Five candidates each contested from the two constituencies.

Both by-polls were four-cornered contests.

First Published On : Nov 22, 2016 10:56 IST

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Madhya Pradesh bypolls: Counting of votes ensues in Shahdol, Nepanagar

Madhya Pradesh bypolls: Counting of votes ensues in Shahdol, Nepanagar

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Bhopal: The counting of votes in Madhya Pradesh’s Shahdol parliamentary constituency and Nepanagar assembly constituency began amid tight security on Tuesday morning, an official said.

Representational image. Reuters

Representational image. Reuters

Polls in Bhopal were held on 19 November.

Initially the postal ballots were being counted which would be followed by the votes recorded in the EVMs, said an official from the Chief Election Commissioner’s office.

The counting for the Shahdol seat was being carried out at four district headquarters, while the Nepanagar counting was at Burhanpur district headquarter.

For the Shahdol seat Congress’ Himadri Singh and BJP’s Gyan Singh were putting up a close fight. There are 17 candidates vying for this seat that fell vacant when BJP MP Dalpat Singh Paraste passed away in June.

Even the Nepanagar seat is being fought between BJP’s Manju Dadu and Congress’ Antar Singh. There are only four candidates from this seat.

First Published On : Nov 22, 2016 09:32 IST

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India allows 250,000 rupee wedding cash withdrawals after notes ban | Reuters

India allows 250,000 rupee wedding cash withdrawals after notes ban | Reuters

Nov 21, 2016 20:36 IST

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MUMBAI India’s central bank said on Monday that people can withdraw up to 250,000 rupees ($3,670) for wedding related expenses, provided they submit adequate proof and the wedding is on or before Dec. 30.The cash withdrawals will be allowed out of the balance in the account as of close of business on Nov. 8, the Reserve Bank of India said in a statement. (bit.ly/2g9nZt1)Prime Minister Narendra Modi dropped a bombshell on Nov. 8 by abolishing 500 and 1,000 rupee notes that accounted for 86 percent of cash in circulation. The move was aimed at cracking down on the shadow economy but has brought India’s cash economy to a virtual standstill.Modi’s decision to withdraw the high-value bills in the middle of the wedding and seed sowing season has drawn widespread criticism from Indians forced to queue at banks to exchange bills or without cash to pay for goods and services.

The RBI said the wedding withdrawals could be made by either of the parents or the people getting married after submitting an application.People looking to withdraw have to also submit evidence of the wedding, including the invitation card and copies of receipts for advance payments, and a detailed list of people who will receive the cash.

The RBI also said it would allow farmers to withdraw cash up to 25,000 rupees a week from their loan or deposit accounts subject to their accounts. (bit.ly/2guTdiv)Earlier on Monday, the Indian government allowed farmers to purchase seeds with old 500 rupee banknote from state-run outlets.

($1 = 68.1385 Indian rupees) (Reporting by Abhirup Roy; Editing by Alison Williams)

This story has not been edited by Firstpost staff and is generated by auto-feed.

First Published On : Nov 21, 2016 20:36 IST

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IND vs ENG | Nov 17th, 2016

ENG 158 10 97.3

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ZIM vs SL | Nov 21st, 2016

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Demonetisation: Rahul Gandhi visits a third ATM to discuss problems faced by people

Demonetisation: Rahul Gandhi visits a third ATM to discuss problems faced by people

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Congress Vice President Rahul Gandhi on Monday visited an ATM in the city and interacted with the people standing in the queue, the Indian National Congress (INC) tweeted.

“Congress Vice President Rahul Gandhi met people standing in queue early morning outside an ATM in Jahangirpuri area, Delhi,” said the tweet.

The information initially tweeted by the Youth wing of the Congress party was later retweeted by the INC.

During the interaction, Gandhi asked the people about the difficulties they faced after the demonetisation of the Rs 500 and Rs 1,000 currency notes.

This was Gandhi’s third ATM visit post the Centre’s demonetisation move on 8 November.

First Published On : Nov 21, 2016 11:15 IST

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IND vs ENG | Nov 17th, 2016

ENG 142 7 92.5

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Mallika Sherawat assaulted in Paris – media | Reuters

Mallika Sherawat assaulted in Paris – media | Reuters

Nov 17, 2016 21:57 IST

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PARIS Bollywood actor Mallika Sherawat and her partner were assaulted in Paris last week, AFP and other media reported on Thursday, just over a month after U.S reality TV star Kim Kardashian was attacked and robbed in the French capital.The assault on Sherawat took place on Nov. 11, AFP said. “Sherawat was punched in the face and sprayed with tear gas by masked attackers who tried to steal her handbag,” the French news agency said, citing a police source.

The attackers fled without taking anything, a source close to the investigation told AFP.

Nobody was immediately available to comment at the Paris prosecutor’s office. A police spokesman declined to comment.

(Reporting by Matthias Blamont; Editing by Louise Ireland)

This story has not been edited by Firstpost staff and is generated by auto-feed.

First Published On : Nov 17, 2016 21:57 IST

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IND vs ENG | Nov 17th, 2016

IND 317 4 90.0

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NZ vs PAK | Nov 17th, 2016

PAK 53 3 19.0

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Mandatory voting in army: With military facing disparaging assaults, why every soldier must vote

• It showed the rapid spread and growth of mafias and economic lobbies which have, over the years, developed extensive network with bureaucrats/government functionaries, politicians, media persons and strategically located individuals in the non-state sector; with some also having international linkages, including with foreign intelligence agencies.

• It established that any leakage about the linkages of crime syndicate with senior government functionaries or political leaders in the states or at the Centre could have a destabilising effect on the functioning of the government.

Naturally, the above report has remained buried somewhere because it poses the threat of “destabilising” the functioning of any government. India is not like Singapore, a country where 150 politicians and bureaucrats were jailed overnight when their equivalent of the Lokpal Bill came into being.

No wonder then that former Defense Minister AK Antony couldn’t sleep after discovering the capabilities of the army’s Technical Support Division (TSD). As a result, the TSD was killed off pronto, on trumped up charges, because it “could” have been intercepted by the “mafia”.

Never mind the fact that the mobile interceptors in question were actually imported by the Defence Intelligence Agency (DIA), which functions directly under the Ministry of Defence (MoD), and not the army.

China is known to extract value in strategic terms for financial gain. Similarly, the mafia can extract value by attracting foreign funding. As a result, the military is continuously put down and many of the defence-industrial complexes remain out-dated.

The prime minister may push hard for “ease of business” but the mafia gets massive foreign funding, and which country wants to see a strong India? The inability to act against the mafia makes it bolder. Remember the efforts under the previous government to hollow the system by pitting the IB against the CBI?

But then the realisation dawned that the IPS manning the intelligence agencies were also privy to the mafia dealings. So now, the mafia is going full blast against the military; even trying to pitch the CAPF against the military (remember the police baton charging military veterans at Jantar Mantar).

In terms of ranking and emoluments, the bureaucracy and civilian defence employees should be left aside. Of course, unlike any other country in the world, the same ranks and uniforms of the military, were quietly introduced into the police forces.

When some military veterans first gave a call for a protest at Jantar Mantar in 2015, an organisation called “Patriots Front” wrote a letter to the prime minister, warning him of a military coup and recommended that “anti-coup measures be put in place”.

Even today, the so called “patriots” dismiss the soldiers’ demands as just “whining”. The soldiers just want their status to be respected, as given in the Constitution and they want the serious imbalances and disparities between soldiers and other government civil employees be rectified, taking into account the average career earnings including pension benefits.

For example, the non-functional upgradation (NFU) demand of the armed forces was reportedly turned down on the pretext that it was applicable only to class ‘A’ officers, like IAS, IFS, IPS, IRS, etc. That begs the question: What is the class of the military officers who are commissioned by the President of India?

Does the government have an explanation for this? Why should 45 percent of the defence pension outlay be consumed by 22 percent civilians under the MoD?

In such an environment, what should the military do? There is no need for the service chiefs to bow down to such “unlawful commands”, even as the mafia appears to be hell-bent upon demolishing the military.

But aside from representing the hierarchy on specific issues, the least the service chiefs must do is to ensure that soldiers must not be denied their right to cast their vote, especially since many of their fundamental rights are already severely curbed as part of their service.

The manner in which caste, creed, and religion are played in our country clearly indicate that anything and everything goes, and anything can be sold for votes. Even US President Barrack Obama celebrated Diwali in the White House and so did the United Nations (perhaps on the behest of the US) with an eye on the Indian origin voters going into next week’s Presidential election.

Fortunately, the Election Commission of India has authorised every military soldier to vote during the elections (both state and local) at the station they are posted in — thanks to the efforts of Rajeev Chandrashekhar, former member of parliament.

Legislative Assembly elections are due in Uttar Pradesh, Punjab, Uttarakhand, Gujarat, Himachal Pradesh, Goa and Manipur next year, and the battle lines are tightly drawn; especially in UP, where every vote will count.

When the army formations voted during the 2007 Uttar Pradesh Assembly Election, the change in the political attitude towards the army was electric. Interestingly, on discovering that army division at Allahabad would also participate in the 2007 election, a recent Congress defectee from Allahabad to BJP, had executed a summersault at par with perhaps Dipa Karmakar; from complaining against the army to becoming all sugar and honey, in all but a few seconds.

It is true that no political party wants the military to vote as the soldiers vote without a consideration for caste, creed, religion, in the true spirit of “India first”. This often upsets the political calculations. Not only will there be hints for the military to abstain, spanners will be put out like — first get your voter identity cards made; and that voting is impossible where soldiers with even one day of service are authorised to vote.

But, there is precedence to overcome this. In the 2007 Uttar Pradesh Assembly Election, serving soldiers were permitted to vote showing their service identity cards, and the list of eligible military voters was submitted to both the UP and the Election Commission well in advance. In fact, special voting booths were established within military cantonments, where soldiers voted under the supervision of Election Commission representatives.

With Gujarat passing a law to make voting mandatory, this approach should be adopted as dictum even in the military. With the military facing disparaging assaults, every soldier must at least get to vote. This should be the resolve of the service chiefs.

There should be no need for one chief to convince the other two. The three service chiefs actually owe this to their command. The routine instructions for getting soldiers voting cards fooled no one. The only question that remains is, do the chairman chiefs of Staff Committee and the service chiefs have it in them?

The author is veteran Lt Gen of Indian Army.

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<!– FP CRONTAB –>

Put new accounting standard on hold: Tax committee

The ghost of MAT (minimum alternative tax) has reemerged as tax simplification committee, headed by justice Easwar, wants to hold new accounting standard rules sighting adverse and uncertain impact on MAT. But the government body, which has shaped new accounting norms, has refuted this apprehension of Easwar Committee. Tax Simplification Committee is going to submit its final report to finance minister on Sunday (31st January 2016). dna has seen the final version of this report which suggests to hold new accounting system for certain period to evaluate its impact on MAT.<!– /11440465/Dna_Article_Middle_300x250_BTF –>New accounting norms will change the rule of game of profit counting. Book profit to income figures of businesses will be changed. IND-AS (Indian version of International financial reporting standards) are being implemented with effect from previous year starting on first April 2015. From April 1st 2016 Ind-AS will be mandatorily applicable for certain businesses.The committee suggested to government that it could have adverse impact on MAT. Tax committee said in final report that Ind-AS will hit companies’ book profit as well as income figures. Committee has suggested that “till such time the taxation department as well as assessee are able to understand the real impact on taxable income and book profit”. MAT is a minimum tax-based on book profit.But the body, which has finalised the Ind-AS norms, has rejected this nervousness. Chairmen of National Advisory Committee on Accounting Standards (NACAS), who is behind the Ind-AS norms, Amarjit Chopra said to dna “the mandate to Eswaran committee was to look at simplification of existing income tax laws. For the purpose of studying the impact of Ind-AS on various aspect of tax laws, a group has already been constituted including past president of ICAI Kamlesh Shivji Vikamsey. It is my earnest desire that the group submits its report at the earliest”.Government of India has constituted a 10-member committee under the chairmanship of justice R V Easwar to ‘study and identify the provision and phrases in income tax’ which create litigation on account of interpretative differences. The committee has one-year tenure. On 31st January 2016, the first set of recommendations is submitted to Finance minister Arun Jaitly in New Delhi. Government has been indicated that relevant part of Easwar committee report will be included in upcoming budget.What is IND-AS?Currently, the Institute of Chartered Accountants of India (ICAI) has issued 39 Indian Accounting Standards (Ind-AS) which have been notified under the Companies (Indian Accounting Standards) Rules, 2015 (“Ind AS Rules”), of the Companies Act, 2013. Whenever a company gets covered under the proposed roadmap, Ind-AS becomes mandatory, its holding, subsidiary, associate and joint venture companies will also have to adopt Ind-AS.On 16 February 2015, Ministry of Corporate Affairs (MCA) has issued the roadmap for Ind-AS implementation. Highlights are as follows:2016-17 – Companies (listed + unlisted) whose net worth is equal to or greater than Rs 500 crore2017-18 -Unlisted companies whose net worth is equal to or greater than Rs 250 crore and all listed companies2018-19 onwards – When a company’s net worth becomes greater than Rs 250 crore2015-16 or later – Entities, not under the mandatory road- map, may later voluntarily adopt Ind AS2018-19 or later -Banks, NHB, SIDBI will follow Ind-ASFine print of Easwar COMEETE’S FINAL REPORTRaise the threshold limits and reduction of the rate of TDS from 10% to 5%Surplus up to Rs 5 lac income should count as long term capital gain (tax free).Higher interest in case of delayed Tax refundNo interest be disallowed if source of investment is directly relatable to taxable incomeEliminate taxation of the purchaser of the property on the amount of differences between the sale price and the stamp duty valueReduce the time limit for rectification of orders of the tribunal from the present four years to 120 daysRelease the property attached (section 281 B) on submission of bank guaranteePresumptive income scheme for professionals