Thursday, 6 December 2018

Attention Customers! Your Cheques May Become Invalid From Jan1

Attention Customers! Your Cheques May Become Invalid From Jan1

Customers of all banks including State Bank of India (SBI), HDFC Bank, ICICI Bank, Bank of Baroda, Punjab National Bank and others using Non-CTS cheques will become invalid from January 1.
India's largest public lender State Bank of India (SBI) has told its customers that they will no longer be able to use non-CTS cheques from December 12. You will not be able to get payments from cheques of non-CTS cheques of any bank. SBI has started informing their customers about this updation through messages.

Image result for CTS Cheque
CTS Cheque
CTS is the abbreviated form of Cheque Truncation System. The Reserve Bank of India had issued a new guideline about CTS cheques around three months ago. As per the RBI guideline, non-CTS cheque will become inivalid from 1 January. CTS stops the flow of physical cheque. An electronic image of the instrument is presented for clearing. 
As per the amended law, the truncated cheque means, "“a cheque which is truncated during the course of a clearing cycle, either by the Clearing House or by the bank, whether paying or receiving payment, immediately on generation of an electronic image for transmission, substituting the further physical movement of the cheque in writing”
Image result for CTS Chequecredit: third party image reference
The RBI 'Procedural Guidelines For Cheque Truncation System', which was published in July 2018, explains that the previous MICR cheque clearing system required the cheques to be physically moved from one place to another. "...and the time involved in their processing at various intermediate stages increases the length of the clearing cycle of cheques."

The cheques required to be presented at the branch where they were payable. The restrictions were due to the Negotiable Instruments Act, 1881 which mandated the presentation of the cheque to the drawee branch for payment. 
However, the law was amended in 2002, which paved the pay for presenting electronic images of the cheques in place of the physical instrument. 

The RBI says, "With suitable amendments to The Negotiable Instruments (NI) Act, 1881, The Information Technology (IT) Act, 2000 and The Bankers’ Book Evidence (BBE) Act, 1891, the legal framework was put in place for the introduction of cheque truncation and e-cheques in India."
Sourced from http://detail.br.oppo.rozbuzz.com

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Tuesday, 13 November 2018

Flipkart Group CEO Binny Bansal Steps Down After Allegation Of Serious Personal Misconduct

Flipkart Group Chief Executive Officer Binny Bansal quit following an investigation into alleged “serious personal misconduct” even as he denied the allegation.
Image result for binny bansal resigns
“His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct,” Walmart Inc. said in a press statement. “He strongly denies the allegation. Nevertheless, we had a responsibility to ensure the investigation was deliberate and thorough.”
Walmart said while the investigation “did not find evidence to corroborate the complainant’s assertions against Bansal, it did reveal other lapses in judgement, particularly a lack of transparency, related to how Binny responded to the situation. Because of this, we have accepted his decision to resign.”
The statement didn’t give details of the allegations against Bansal.
Kalyan Krishnamurthy will continue as the CEO of Flipkart, which will now include Myntra and Jabong, Walmart said. Ananth Narayanan will continue as the CEO of Myntra and Jabong and will report to Krishnamurthy.
Bansal’s resignation marks the exit of co-founders from India’s largest online retailer. Sachin Bansal (not related to Binny) had exited the company they founded more than a decade ago after selling his stake to Walmart earlier this year.
This is a developing story.
Sourced from https://www.bloombergquint.com

Over 1 Cr consumers may lose LPG connection from December 1

The Central government has asked gas agencies like Bharatgas, HP Gas and Indane to complete the KYC of consumers who have not yet submitted Aadhaar or opted for 'Give it Up' scheme by 30 November. Those who have given up gas subsidy need to get the KYC done. Notably, a massive number of users are yet to go through the KYC exercise.

A large number of consumers had not done the KYC when government had started the process to link gas connections with bank account of consumers three years ago. These consumers couldn't get gas subsidy. Consumers whose annual income was above Rs 10 lakh also couldn't get the benefit. 
According to the report, the government has said that KYC of those who have opted to give up subsidy will help eliminate ineligible consumers. This will improve the supply of cylinders to such consumers. 
One crore gas consumers are yet to get the KYC done. Most of these are from states like Delhi, Uttar Pradesh and Maharashtra.  
Last month, UIDAI had said beneficiaries can continue to withdraw LPG subsidy and other government payments using Aadhaar authentication from micro-ATMs at their doorstep.

sourced from http://detail.br.oppo.rozbuzz.com


Saturday, 27 October 2018

WHOLESALE PRODUCTS LINK

You will find the links of our catalogs below from where you can select the products you wish to buy.
You will find categories starting with Wholesale

WHOLESALE: In this category you will find products at wholesale rates with MOQ 5 or above and without COD options. Taxes and shipping extra.

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Friday, 12 October 2018

Top 5 Selling Products On Amazon On 10th October. Numbers will make you go Crazy



Mi 10000mAH Li-Polymer Power Bank 2i (Blue)

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JBL C100SI In-Ear Headphones with Mic (Black)
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Pigeon by Stovekraft New Handy Plastic Chopper with 3 Blades, Green

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boAt Rugged v3 Extra Tough Unbreakable Braided Micro USB Cable 1.5 Meter (Black)

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SanDisk Ultra Dual 32GB USB 3.0 OTG Pen Drive

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Anil Kumble's startup brings AI to cricket, launches 'Power Bat'

The Power Bat can provide real-time data on a player's performance based on different parameters such as speed of the ball, twist on impact and quality of the shot.


Former India captain Anil Kumble's technology start-up Spektacom Technologies on Thursday launched the "Power Bat" -- a unique tool powered by Microsoft's Azure Cloud platform and its Artificial Intelligence (AI) and Internet of Things (IoT) services.
The Power Bat can provide real-time data on a player's performance based on different parameters such as speed of the ball on impact, twist on impact and quality of the shot.
Spektacom and Microsoft roped in Star India as the broadcasting partner to provide fans and viewers with a new way to engage with the sport. 
"Our vision is to bring sports closer to fans through interesting ways of engagement using real-time sports analytics. At the same time, it is important that the technologies used are seamless and do not disrupt the game or obstruct the players," Anil Kumble said.
"With Microsoft, we have been able to create a secure and effective solution, and with Star India, we have a partner that can stimulate and excite fan engagement," Kumble added. 
At the core of the technology is a light weight sticker which is stuck on the shoulder of the bat. 
In a live match, as soon as the batsman hits the ball, data on different parameters are captured in a new unit of measurement titled Power Speks. 
Microsoft's Azure Sphere, an operating system for IoT applications, ensures that the data is securely captured and processed.
Using advanced analytics and AI services on Azure, real-time insights are captured through the stump box and displayed via the broadcaster. 
During practice or coaching, the same data can be viewed through a mobile app, Microsoft said.
"We're partnering with Spektacom to bring real-time insights and new experiences to cricket fans and players alike, completely changing the way they experience the sport," Peggy Johnson, Executive Vice President, Microsoft, told IANS. 
"By leveraging Azure, its AI and IoT services, Spektacom can deliver details on player performance, which can be used in everything from scouting to training as well as improving the fan experience," she said. 
Microsoft had been working closely with Spektacom to incubate and launch the product as part of its ScaleUp programme, designed to offer access to sales, marketing and technical support to Series A start-ups.
"We've already seen the impact that connected devices have had in other industries, and we believe that with the advancements in our AI and cloud services, this is just the beginning of what's possible for not only cricket, but all sports," Johnson said.

Sourced From thenewsminute