The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the setting up of the National Land Monetisation Corporation (NLMC) that will undertake the work of monetisation of surplus land and building assets of Central Public Sector Enterprises.
The NLMC will be set up as a wholly-owned Government of India company with an initial authorised share capital of Rs 5,000 crore and paid-up share capital of Rs 150 crore. It will undertake monetisation of surplus land and building assets of Central Public Sector Enterprises (CPSEs) and other Government agencies. The proposal is in pursuance of the Budget Announcement for 2021-22. Going forward, the Department of Public Enterprise, Ministry of Finance, will set up the company and act as its administrative ministry, according to an official statement released after the cabinet meeting.
With monetisation of non-core assets, Government would be able to generate substantial revenues by monetizing unused and under-used assets.
“At present, CPSEs hold considerable surplus, unused and under-used non-core assets in the nature of land and buildings. For CPSEs undergoing strategic disinvestment or closure, monetisation of these surplus land and non-core assets is important to unlock their value. NLMC will support and undertake monetisation of these assets,” the Ministry of Finance said in a statement.
“This will also enable productive utilisation of these under-utilised assets to trigger private sector investments, new economic activities, boost the local economy and generate financial resources for economic and social infrastructure,” it said. The NLMC is also expected to own, hold, manage and monetise surplus land and building assets of CPSEs under closure and the surplus non-core land assets of Government-owned CPSEs under strategic disinvestment. This will speed up the closure process of CPSEs and smoothen the strategic disinvestment process of Government-owned CPSEs.
These assets may be transferred to NLMC to hold, manage and monetise. It will also advise and support other Government entities (including CPSEs) in identifying their surplus non-core assets and monetizing them in a professional and efficient manner to generate maximum value realisation. In these cases (e.g., on-going CPSEs and listed CPSEs under strategic disinvestment), NLMC will undertake surplus land asset monetization as an agency function. It is expected that NLMC will act as a repository of best practices in land monetization, assist and provide technical advice to the Government in the implementation of the asset monetization programme.
The NLMC will have the necessary technical expertise to professionally manage and monetize land assets on behalf of CPSEs and other Government agencies. The Board of Directors of NLMC will comprise senior Central Government officers and eminent experts to enable professional operations and management of the company. The Chairman, non-Government Directors of the NLMC will be appointed through a merit-based selection process.
“NLMC will be a lean organization with minimal full-time staff, hired directly from the market on a contract basis. Flexibility will be provided to the Board of NLMC to hire, pay, and retain experienced professionals from the private sector,” the Finance Ministry said.
Also on Wednesday, Prime Minister Narendra Modi chaired a meeting to review the Covid-19 situation and public health response. Union Home Minister Amit Shah and Health Minister Mansukh Mandaviya were present at the meeting along with top officials.
India reported 4,575 new COVID cases in the past 24 hours according to the Ministry of Health and Family Welfare on Wednesday. The government data shows that the active caseload of the country has risen to 46,962 at present which accounts for 0.11% of total cases.
The daily positivity rate stands at 0.51% while the weekly positivity rate is 0.62%.
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Snehalata Memorial Foundation brings Sambhav on Stage at Triveni Kala Sangam
During the last two years, a lot of shows were organized online due to the raging pandemic. Now, most of the organizers have decided to conduct their events offline. Snehalata Memorial Foundation established in the year 1992, is a social organization that aims to spread awareness about classical music throughout the world. Snehalata Memorial Foundation is set to organise Sambhav on Stage with the tagline ‘Gayan Vadan Nritya’. The program is being organized at Triveni Kala Sangam, 205, Tansen Marg, Mandi House, Delhi, 110001 on the 19th of May 2022 from 6 PM onwards.
The program will start with a vocal, followed by a Tabla duet, and end with a Kathak trio recital. The performers have already performed online, this time they would be performing offline. During covid, the upcoming performers have suffered the most and Snehalata has planned to encourage young artists and present their art in front of the audience.
In a candid conversation tabla artist, Saptak Sharma who will be performing in the event said, “It’s completely an honor for me to be performing for Snehalata Memorial Foundation. Especially getting an opportunity after a long gap of 2 years is a whole another experience. I’ve been attached to this organisation and did some online concerts during the lockdown as well. A big thanks to Binay ji and the whole team for making this possible and getting the artists back on stage. It’s a whole different thing to live with the audience in a face-to-face way as compared to the online sessions. The essence of classical music lies in the baithak systems in which the artist is being praised by the audience and the music flowing out of that is completely felt differently. It’s always said music can only be felt and not seen. And that’s the best part about being on stage when you realise your audience feeling your music and reacting to it.”
The event features
Classical Vocal Recital by Abhijeet Mishra
Sarangi – Ejaz Hussain
Tabla – Kamil Khan
Duet Tabla Recital by Saptak Sharma and Ashutosh Verma
Sarangi – Mudassir Khan
Kathak Recital by Harshita Vaish, Disha Gupta, and Sagar Vishwakarma
Sarangi- Ejaz Hussain
Vocal- Zaki Ahmed
Tabla- Shubhan Khan
Padhanti- Aishwarya Rawat
Venue-Triveni Kala Sangam, Delhi
‘WE AT ICCS ARE OFFERING CUSTOMIZED OUTSOURCING SOLUTIONS WITH BEST TECHNOLOGY & INFRASTRUCTURE’
In response to The Daily Guardian, Divij Singhal, Founder & CEO, ICCS, said ICCS’s mission is to outperform the industry by fostering innovation and forming collaborations with the world’s largest brands, as well as enthusiastic leaders and employees. The company envisions being one of the worlds’s most recognized and trusted BPM service provider, offering exceptional value to customers across all industries through cutting-edge technology and world-class service.
Q: What made you launch this business?
A: We looked at the domestic service industry and it was growing in the country and skilled people for voice and non-voice would be needed. We evaluated that there is a niche that can be created in this industry by the amalgamation of people and technology. That motivated us to be a part of this BPO industry.
Q: Goals and objectives when it is founded.
A: The goal was to be a leading player in this space of domestic BPO with the right quality and consistency being delivered to our customers at the right price.
Q: Business success so far
A: Our growth is consistent with the growth of 25% YoY, and something which we really can cherish is all our customers who started with us continued together, and we both grew over time. We believe in high quality and besides, we also give them the technology to improve their customer experience turning into retention.
Q: What will be the industry trends in 2023.
A: New-age technologies are emerging and making their mark in businesses across sectors. We feel that Artificial Intelligence and Machine Learning in particular will be buzzwords and their impact will be such that the BPO sector will witness growth concerning the people in the coming year. The yield per employee will increase and this trend will render a positive impact on the valuation of the BPO industry
Q: What are your future plans?
A: We are indeed joyous that we have had a successful run so far. Indeed, we had our fair share of ups and downs. But we take pride in the fact that we have surpassed them all and are bracing for exponential growth in the future. As far as our growth plans are concerned, we at ICCS are looking forward to expanding our footprints in tier 2 regions as well as in the metro cities. We are also planning to hire 1000+ employees by the end of this year. From the business perspective, our focus is to increase our presence in the healthcare and retail distribution verticals. On the whole, we are striving to bring about innovation as well as foster associations with reputed brands at the global level.
VIBE, THE SKYBAR REOPENS AT GURUGRAM BAANI SQUARE
True to its name, Vibe – The Sky Bar, a rooftop bar at DoubleTree by Hilton Gurugram Baani Square is back to serve its patrons.
Blessed with breathtaking city views and sparkling ambiance, this high-end rooftop bar is an ideal place to socialize with friends and family or for a corporate gathering. Wind down after a busy day in comfortable lounges while you enjoy the sophisticated bites and handcrafted concoctions to lift your spirits.
Enjoy an open-air dining experience in re-imagined spaces secured with stringent safety norms, where Mukesh Kumar, Executive Sous Chef has introduced an array of delectable choices in the eclectic menu which includes The Giant Chicken Wings, Kaffir Lime Gamberi, Kasundi Salmon, Crunchy Amritsari Fish Tots, Tenderloin Boti Popsicles, Raan, Ragi Chickpea Falafel, Mexican Tacos, Citrus Creme Brule, DoubleTree Cookie Pastry, and many more to choose from.
Timings: – 04:00 PM–12:00 AM
Average cost for two: INR 3500 plus taxes
For reservations: +91 9711216466
LOGIC OR INSTINCT, WHICH DO WE FOLLOW?
During the last days of 2004, as a giant tsunami-ravaged a dozen countries, killing almost two hundred thousand people, researchers noticed something odd at the Yala National Park in Sri Lanka. The park, home to several hundred species, hardly had any animal carcasses. National Geographic magazine quotes observers reporting strange behavior from animals before the tsunami hit. Elephants screamed and ran for higher ground, turtles changed paths, and dogs refused to go outdoors. What did the animals sense that humans didn’t?
The pinstriped world of Wall Street might seem far removed from the forests of Sri Lanka, yet the same animal instincts run deep. Billionaire investor George Soros said that the onset of back pain is, for him, often “a signal that there was something wrong in my portfolio”. In his son’s words, Soros often “changes his position on the market” because “his back is killing him”. A study by researcher John Coates observed that traders who were more aware of their body rhythms made more profitable trades and could sense when ‘something just felt right.
Does this mean that we should trust our ‘gut instinct’ more often?
The answer, unfortunately, is not that simple. Almost every trader or gambler who places a bet feels that ‘today is going to be my lucky day. A look at the ranks of failed gamblers tells us that blind reliance on instinct can lead to ruin. Examples abound not just of businesses but entire kingdoms which were destroyed because the leader chose to act on an impulse or a whim. Giving our instincts a free run is like letting an angry elephant loose in a bazaar.
Scaling up and running a large enterprise requires standardization, and standardization leaves little room for subjectivity. Not surprisingly, our professional worlds elevate logic over instinct. The parameters for business decision-making, whether at Board meetings or client presentations, prioritize measurable metrics and tangible calculations. For a firm to say that decisions are made based on ‘gut feelings’ of key executives would be comical.
And yet, something valuable is lost when we rely too much on logic. Logic is often just a way for us to rationalize and reduce dissonance with a decision that has already been made based on our emotions. One needs to look no further than debates on Twitter or WhatsApp groups to witness this. Data can often be tortured to spit out a conclusion that suits a particular viewpoint.
In the numerous Board or investment committee meetings that I have attended, I have noticed that if you peel beyond the veneer of logic, key decisions almost always rest on softer factors, such as trust in the management team. Great investors focus on qualitative factors, such as the drive, energy, or integrity of the founders, instead of relying on metrics alone.
Can we leverage this power of instinct in our lives? Experience has shown me that there is a way.
First, we need to build deep expertise in the field in question. Coates’ study was done on experienced traders. My involvement in the stock markets dates back twenty-five years. Over two-thirds of those were spent focusing on left-brain analysis, involving numbers, financials, strategy, metrics, and so on. But in the last eight years, I have been able to transcend these and understand the softer realms of temperament, awareness, subtler patterns, behavioral biases, and so on. Yet, the latter would not have been possible without the former. The logical parts need to be integrated into muscle memory for the instinct to be robust.
Second, we need to polish our antennae. Today, as we increasingly tune into digital noise, we have lost the connection to nature and to the cues that it gives us. We need to tune in to signals from our bodies, minds, and the environment. Coates found that successful traders exhibited greater self-awareness of their body rhythms, such as heart rates. My practice of mindfulness meditation forms the core of my creativity, as it enables me to tap into intuition and get ideas for my writing.
As we eliminate the dust and cobwebs from our antennae, we re-establish our connection with our inner compass and with activities that nourish us deeply. We are then able to tap into the vast primeval universal intelligence. This intelligence works through processes that transcend logic and opens us up to the true power of instinct and intuition.
S.Venkatesh is the bestselling author of AgniBaan and KaalKoot, a leadership coach and an investor who has held key positions with JP Morgan, Credit Suisse and Macquarie. He writes about mindfulness and its link to creativity, business and wealth.
Amazon Smbhav announces launch of Smart Commerce
The third edition of Amazon Smbhav, Amazon India, with the theme ‘Pragati’ discusses innovation and growth along with exploring ideas to drive India’s success towards development in terms of business. The summit has also announced the launch of Smart Commerce, an initiative to transform local stores into Digital Dukaans. The initiative aims to digitalise 1 crore small businesses by 2025.
Announcing its launch, Amit Agarwal, SVP, India and Emerging Markets, Amazon said, “We are humbled by how neighbourhood stores from across India are taking advantage of our Local Shops on Amazon program to go online and grow their business, with over 1.5 lakh stores already selling on Amazon.in within two years of launch. Today, we are excited to launch Smart Commerce that will enable any store to truly become a digital dukaan, and serve customers with the best of Amazon no matter where they are in their physical store, directly through their own online storefront, or on Amazon.in. We are just getting started and remain committed to our pledge to digitize one crore small businesses by 2025.”
In the opening session, Manish Tiwary, Country Manager, India Consumer Business, said, “Over the last two years, we have invested significantly towards the pledges we announced at the inaugural Smbhav Summit in 2020. We are humbled to share that we have already digitized over 4 million small businesses and local stores, are on track to enable $5 billion in cumulative exports and have created over 1.16 million direct and indirect jobs in India including 135K new jobs added in the last year.” Many India-First innovations such as Seller Flex and Easy Ship have been implemented in global markets as well. Moreover, technology has been used to bring small businesses online. Moreover, most of the customer orders on Amazon are from tier 2 cities. Around 8 million local stores and businesses are using Amazon Pay, with 75% of the customers (tier 2 and tier 3 cities) using Amazon Pay UPI.
Similarly, Dave Clark also emphasised that Amazon has invested more than $18 billion in its selling partners’ success since 2020. Amazon has also digitized more than 4 million small businesses and enabled exports worth nearly $5 billion. To support the idea of Prime Minister Narendra Modi, Rajeev Chandrasekhar, the minister of state in the Ministry of Skill Development and Entrepreneurship, also focused on using technology to create opportunities for youth. As post-COVID reshaped the value chain of products and services, the growth of small businesses and villages would make India Atmanirbhar.
POLICE BUST INTER STATE DRUG CARTEL IN DELHI, HEROIN WORTH RS 20 CR RECOVERED
A team of Special Cell/Northern Range, on Wednesday, successfully busted an interstate drug cartel after arresting one of its key members from Delhi. The team, led by Inspr. Vivekanand Pathak and Inspr. Kuldeep Singh was under the supervision of Shri Ved Parkash, ACP, and overall guidance of DCP/Spl Cell/NR & STF, Sh. Rajiv Ranjan Singh. The arrested member has been identified as Rajesh Gupta of Uttar Pradesh’s Kushinagar.
Five kilograms of high-grade heroin worth more than Rs. 20 crores in the international market have been recovered from the possession of arrested 47-year-old Gupta. One mobile handset and two SIM cards used in the drug trafficking activities have also been recovered from the detainee.
Rajesh Gupta has served 12 years in the Indian army, and was court-martialed and dismissed in 2006, after being found involved in a financial scam. Later, Gupta was put in civil jail in Kohima, where he came in contact with a person namely Sushil who lured him to work with him in drug trafficking. Thereafter, Gupta started supplying heroin after procuring it from drug suppliers of Manipur.
Special Cell in its continuous crusade against drug suppliers had busted many narcotic drug cartels in the past by arresting several drug suppliers and by recovering huge consignments of high-grade heroin. Sleuths of Special Cell of Northern Range were working on information that an Interstate narcotic drug cartel is active in the states of Manipur, UP, Delhi etc.
In a statement, police said: “Members of this cartel are involved in the supply of high-grade heroin in Delhi, NCR, UP, after procuring the same from suppliers from bordering areas. This information was further developed through technical as well as human surveillance.”
It took about 3 to 4 months of painstaking efforts to successfully investigate the case. During this process, members of this cartel were identified and their activities were kept under discreet surveillance, police statement added.
Arrested Rajesh Gupta was thoroughly interrogated, and after that, the accused person disclosed that he was part of an interstate narcotics syndicate.
The police statement said: “Rajesh Gupta disclosed that he is indulged in drug trafficking activities for the last five-six years. He used to transport heroin after taking delivery from one Limanthang resident of Manipur. Further investigation is in progress.”
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