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• NSDC makes first disbursements to BASIX Academy for Building Lifelong Employability (B-ABLE)
• GJEPC Meeting India’s demand for skilled labour through private sector participation, says Subbiah 

The National Skill Development Corporation (NSDC) made its first disbursements in New Delhi. The NSDC Chairman, Mr M.V. Subbiah, said, “Basix Academy and Gems and Jewellery Export Promotion Council (GJEPC) have been selected as one of the first beneficiaries of NSDC. I am sure their efforts in the area of vocational training are going to go a long way in the Herculean task of skill development in India.”

The 1st beneficiary is, B-ABLE (BASIX Academy for Building Lifelong Employability), a subsidiary of BASIX which, is a Pan India livelihood promotion organization working in 20,000 villages across 18 states. B-ABLE will skill 10 lac people over 10 years specifically in the unorganized and underprivileged sector, working closely with school dropouts, women and migratory population.

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ADAG group firm Reliance Venture Asset Management announced that it has entered into an agreement with Massachusetts Institute of Technology (MIT) for the 2010 edition of the college’s entrepreneurship competition.

The MIT $1,00,000 is an entrepreneurship competition that awards over USD 350,000 in cash and prizes, including USD 100,000 in cash for the grand prize, to outstanding student entrepreneurs whose business plans have the potential to transform into a successful venture, the release added.

As part of the exclusive India arrangement, the company will mentor winners and offer opportunities to develop business ideas in emerging countries such as India through its incubator program

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India’s largest telecom service provider BSNL has launched EVDO data card to provide high speed internet everywhere in India. The service has been possible due to the recently launched 3G network in India. And, BSNL has thus become the first company to launch that service. However, the service will be available initially in some selected cities in India.

The EVDO was launched in 2007. And now, it has come to full swing with the third generation network.

The BSNL EVDO modem is USB based, which can be used for PCs and laptops. The data card offers a high internet speed of 2.4 Mbps with Rev 0 and 3.1 Mbps on Rev A configuration.

BSNL has also made the payment charges affordable by allowing the customers to pay for the data card at Rs.3,500 as one time charges. The customers can also buy it on rental basis by subscribing for Rs. 200/month.  For getting 2.4 Mbps speed, the subscribers would have to pay Rs.550/month. However, the speed may vary according to location

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The Cabinet on Thursday approved an amendment to the Gratuity Act to raise the ceiling from Rs 3.5 lakh to Rs 10 lakh. The Bill to amend the Act will now go to Parliament

Every salaried person, who has completed five years of government or private sector service, is eligible for half a month’s salary as gratuity for every completed year of service. But the gratuity pay of those with higher salaries is now limited at Rs 3.5 lakh.

The proposed amendment raises this to Rs 10 lakh. Every employer with more than ten salaried workers is mandated to provide gratuity to the eligible employees. Many companies, however, do not keep the gratuity liability adequately funded. That is, they make provisions for future payment, but do not set aside funds towards the future payment. Listed companies are expected to disclose their gratuity liability.

After IIM Ahmedabad  and  IIM Calcutta  now   IIM Kozhikode (IIM-K) has decided to make a major change in its selection process with 40 per cent reduction in weightage to the CAT scores this year. “Last year, the weightage to CAT scores during selection process was 90 per cent which has been reduced to 50 per cent this year, with the cut-off being fixed at 90 percentile overall. Followed by that, the institute will give 20 per cent weightage to Class X and XII academic performance each, apart from 10 per cent to work experience

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Shriram Automall India Ltd., a subsidiary of Shriram Transport Finance Co. Ltd., launched two new initiatives that will provide organized trading facilities to the small truck operator for the first time to motivate them to replace their old truck faster.

Shriram One Stop, a computerized touch screen kiosk which will be a virtual Truck Bazaar, will provide real time information about used commercial vehicles available for sale. This will bring more transparency while buying and selling used commercial vehicles. These will be set up in all the 482 branches of the company spread across the country in a phased manner.

Under the second initiative old trucks of all makes will be acquired from the market and will be refurbished and sold under the new brand name Shriram Newlook with their commercial value enhanced.

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AFII has joined a French Consortium developing luxury hotel projects in France and Belgium.

AFII Corporate Advisors Limited, an Indian boutique investment bank, will be supporting investments into the projects being adopted by the group that include some prime assets in France and Belgium with current projects of over €500 Mn.

AFII intends to tell the India Story through these developments and is in talks with some major Indian Operators for designing and managing these properties. Other members in the consortium include Redman Capital and Naos Groupe from France.

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An industry chamber has demanded changes in the guidelines of Securities and Exchange Board of India (SEBI) for easy creation of more stock exchanges to bring in greater competition in capital markets through wider participation of SMEs and retailers.

Assocham said the new exchanges would also ensure better price discovery to investors, specifically retail investors, with much lesser transaction costs.

In a representation to Competition Commission of India, the chamber pointed out that the present position in the country is ”very dismal” as regards to competition and ”highly favoured and weighing” for National Stock Exchange (NSE).

The NSE, which commands 98 per cent of turnover in futures and options and has about 70 per cent in cash section, needs to be countered with competition, it said.

Source- The Hindu Business Line

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Nothing can be better for geek to finds a ‘technology museum’ with a wide range of products under one roof. Panasonic, the global technology leader, launched its first experience centre–Life Scape–in Gurgaon to highlight its technology expertise and innovation across product categories.

Consumers will experience a chronological journey of the company’s past, present and future at the centre in its philosophy, eco and welcome zone. The store showcases a wide array of products in different sections ranging from health to personal care products, from home appliances to office automation products and consumer durables.

The centre has a specialized kid’s zone wherein children would be engaged with edutainment activities. The showroom also has a security and surveillance room, video conferencing and master conference room, a living and kitchen zone.

AirLive®, one of the most advanced worldwide brands for networking and communication equipments, is all set to take part in the 18th Convergence India 2010, the largest ICT event in South Asia. AirLive will present visitors with a comprehensive set of Wireless Outdoor devices that are tailored to meet the unique requirements of the India wireless market, such as backhaul for ISPs and CPE for clients. Also on display are AirLive full ranges of Networking Surveillance products.

The Indian wireless market is experiencing unrivalled levels of growth in every sector. As the first company to introduce Wireless broadband concept to the world, Aielive is ideally positioned to serve every aspect of the Indian wireless market, both now and in the future

 AirLive Convergence India booth include:

• Dual 2.4GHz radios access point
• Multi-functions 3G high power router
• Dedicated NAS for Network surveillance
• 2.4GHz and 5GHz Wireless Base Station and CPE

AirLive booth is located at B33, Hall 18, Pragati Maidan, New Delhi, India, 23 to 25 March 2010.