Tips For Safe Banking Business News Nippon Life Insurance, Indian chess federation

OCS to offer integrated facility service

OCS of the U.K., on Wednesday, announced plans to offer total facilities management services in the domestic market along with its four associate companies.

OCS, in a significant business integration initiative, will provide a total solution to clients who can avoid appointing multiple sub-contractors to maintain their premises. 

However, the associate companies are free to pick up clients, and provide standalone facility maintenance service.

We will also be sourcing talent from India for our operation in the Middle East,” said Heather Suksem, CEO, South Asia, Southeast Asia, Middle East, OCS Group

Reliance Capital partners with Japan's Sumitomo

Reliance Capital has roped in Japanese financial behemoths Sumitomo Mitsui Trust Bank and Nippon Life Insurance as minority partners to boost its quest for banking license.

The Anil Ambani Group company will spin off its consumer lending business into a new entity in which the Japanese giants will buy just under 5% stake each at a substantial premium

Reliance Capital and its two Japanese partners, who have signed an MoU, will apply for a licence by July 1, the deadline set by the RBI.

After roping in the two (Japanese) firms, the consortium will submit the business plan to the RBI - stating its loan book size, net worth and the ability to fund the business in line with the new norms.

Sumitomo has total assets of USD 400 billion, advances of USD 238 billion and net assets of USD 25 billion.

Nippon Life, also known as Nissay, is Japan's largest private life insurer with revenues of USD 71 billion, profits of USD two billion and it is also present in a host of other Asian countries and in North America and Europe.

Hariharan appointed Secy of Indian chess federation 

Former international player V Hariharan has been appointed as secretary of the All India Chess Federation while Bharat Singh was named Chief Executive Officer at the AGM held in Chennai on Monday.

According to an AICF press release issued Monday, Kishore Bandekar of Goa was nominated as the joint secretary in place of Hariharan while Singh has agreed to serve as the CEO, but has declined a salary.

Hariharan replaced Singh who had to step down as per the government guidelines on tenure of office bearers in national federations, the release added.

Hariharan is a former National A player and represented India in the Asian Team Chess Championship held at Singapore in 1987.

Sebi plans to increase minimum capitalisation norms for AMCs

Sebi is planning to review the minimum capitalisation norms for asset management companies (AMCs) to start business in India.

Sebi chairman UK Sinha

Top ten fund houses contribute about 80% of the assets under management

A couple of years ago, a Sebi panel had proposed to increase the minimum net worth for AMCs to Rs 50 crore. But this proposal was strongly opposed by the mutual fund advisory committee.

Chief executives of AMCs say it will be difficult for loss-making MFs to expand into interiors. "One has to incur big expenses to set up offices in the interiors of India. 

An asset management company which is yet to turn profitable cannot be termed as a non-serious player. 

This can be applicable to those fund houses that are making money," said a head of AMC, who did not want to be identified.

But Sinha warned fund houses which failed to expand beyond the top 15 cities could lose out on future incentives. 

He, however, didn't elaborate on the disincentives.

Indian male lifters end runners-up at Asian Championships

The Indian men's weightlifting team finished runners-up in the Asian Championships in Astana, Kazakhstan for the first time in its competitive history even though none of them could bag a medal at the event which concluded Wednesday.

The 25th Women's and 44th Men's Asian Senior Weightlifting Championships concluded with most of the Indian lifters finishing inside top eight in their respective categories.

The 25th Women's and 44th Men's Asian Senior Weightlifting Championships concluded with most of the Indian lifters finishing inside top eight in their respective categories.

S Sathish Kumar ended eighth in the 77kg category and Sukeh Dey ended seventh in the 56kg division.

TIPS FOR SAFE BANKING ON INTERNET

Do not store your bank details on your mobile phone
Details like your bank account number or IPIN must
never be saved on your mobile phone.

Be cautious when banking on your phone in public
When typing out your account number and password
details on your mobile phone in a public spot, be wary of
shoulder surfers trying to catch a glimpse.

Secure your phone with anti-malware
Download an anti-virus or anti-malware app for your mobile
phone or tablet device.

Ignore all messages requesting for your banking details
All e-mails or SMSes requesting for your personal identification number,
account number or other information are certainly fraudulent.

Assam kicks off religious tourism with Ambubachi Mela

The Assam government has decided to promote religious tourism in the state and the ongoing "Ambubachi Mela" at the famous Kamakhya Temple is the first step in this direction. 

Ambubachi is the most important festival of Kamakhya temple, nestled atop the Nilachal Hills, and is associated with the concept of fertility cult with the earth symbolising female 'shakti' (power'). 

During the four-day Ambubachi festival, Mother Earth is believed to menstruate and all religious and agricultural activities are not performed during the period. 

Other festivals like Doul (Holi) Utsav at Barpeta and Bordowa, Shivaratri at Umananda and Shiva Doul at Sibsagar and Urs Festival at Poa Mecca at Hajo will similarly be focused, Tourism Director Anjan Chakraborty said. 

Lakhs of pilgrims from different parts of the country and even abroad come to shrines during these four days to pray and seek blessings of the Goddess. The government, therefore, would ensure that they face no difficulties and the basic amenities are taken care of," he said.