#Personal Loan for Salaried Workers Mumbai | Explore Tumblr Posts and Blogs

softdarkmoneyblackloan · 4 years

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Personal Loans - All You Wanted to Know

The main attributes are: It is a unsecured loan Acceptable for any purpose Like:

- Education - Marriage - Medical function - Purchase Property or Assets - Repay aged loans - Investments - Holidays - Gifts. . .etc.

It's hassle free. No guarantors or safety /security required. Loans to midsize & self-employed. Special offers for Professionals such as Doctors, Chartered Attorneys, Engineers, Architects, Company secretaries, MBA's etc.. Loans are available in Rs. 50, 000/to Rs. 20 lakh. Repayment choices from 12 to 60 months in simple EMI's. Loans available from surrogate earnings of any automobile, home or personal loan.

Minimum documentation & speedy acceptance. What are the Various kinds of private loans out there? Private loans may be separated into earnings based and non income established. Income based loans have been awarded on the basis of earnings per month/per year for salaried and self employed respectively. Non income established loans also understand as unsecured loans are awarded based on repayment history records of present private loans, auto loans, house loans and Credit cards from authorized banks. Minimum instalments paid/Months on novels demanded is 9-12 months.

WHAT ARE THE ELIGIBILITY CRITERIAS? The eligibility standards for salaried and self employed are:

SALARIED: Applicant ought to be Indian citizens residing in Mumbai. Minimum age required is 21 decades and Maximum 58/60 decades. Minimum Work Experience-1 month at present business and 3 decades overall. Minimum Net Take Home - Rs. 20, 000/- per month. Residence-either Owned, leased or business supplied. Telephone/mobile compulsory at home. Currently most of those banks are providing unsecured personal loans exclusively to workers of Private Ltd, Limited and multinational businesses.

SELF EMPLOYED: Applicant Ought to Be Indian Citizens Working and living in Mumbai. Minimum age required is 23/25 decades and Maximum 65 decades. Minimum 3 years experience in the same enterprise. Minimum income Rs. 2. 50 lakh per anum. Residence/Office -possibly Owned, leased or business supplied. Either office or residence ought to be self possessed. Telephone/mobile compulsory at home and workplace. Partnership companies, Private Ltd. businesses and recognized Limited businesses are qualified.

HOW IS ELIGIBILITY CALCULATED?

Different Banks have various means of calculating the qualification. In the instance of Salaried generally the majority of the banks might compute eligibility to become 1/1. 5 instances of yearly earnings. Factors like existing loan obligations, typical bank balance, track listing on existing loans, business profile & loan calculators additionally plays a role in deciding eligibility. In the event of Self Employed's the eligibility would rely on the turnover, present track record, internet profit, money credit /overdraft limit appreciated, line of business, cash flow, bank statement, present loan accountability among other things. Generally the amount of the loan is restricted . 25 to 4 instances of money profit generated less present liabilities or a particular proportion of turnover less present obligations.

WHAT IS THE LOAN TENURE?

Loan Tenure is the interval where the applicant would like to settle the loan. Loans may be repaid from 1 per cent to 5 decades. The principle of the thumb being the tenure higher are the loan eligibility and vice versa. The era of the applicant together with period of support left also affects the loan tenure.

WHAT ARE SERVICE CHARGES?

Service Rates, ブラック融資 processing fees, bank fees are a variety of methods of describing the charges that the bank fees for processing and disbursing loans. It's deducted straight from the amount of the loan and is normally restricted to 2% to 3% of the amount of the loan. It's a 1 time fee.

WHAT ARE THE DOCUMENTS REQUIRED?

SALARIED:

- Photograph. - Pan card backup. - Current house evidence. - Salary slides for 3 weeks. - Bank announcement for 6 weeks. - Appointment correspondence and evidence of work experience. - Sanction letters of existing/closed loans.

SELF EMPLOYED:

- Photograph. - Pan card backup. - Residence and workplace address evidence (Either home or - Office ought to be self possessed ). - IT Returns - CA certified copies for two years complete collection. - Business continuity/existence evidence 3 years of age. - Business banking 6 weeks. - All present loan sanction letters. - Qualification proof for professionals.

WHAT IS THE LOAN PROCESS?

One Can apply for a private loan any moment in expectation of a fast, hassle free and unsecured finance for any use. The confirmation procedure at office and residence is done within 2/3 times on submission of documents required. There's a simultaneous credit rating done to learn the credit history of the applicant at the bank employed along with other banks. If all of the tests are positive that the credit officer generally includes a telephonic or bodily conversation with the applicant in his office/place of job.

Subject to the dialogue Getting positive the applicant must sign an agreement and hand over PDC'c(Post Dated Checks) or consent for ECS(Electronic Clearing System). The candidate normally gets either an immediate charge in his/her accounts or receives a Draft within 2/3 working days after implementing the agreement. The entire Process can take 5/7 operating days.

WHO CAN APPLY?

Salaried people and Self employed people, Partnership companies, Pvt. Ltd. and Deemed Ltd. businesses can employ.

What are the Income Criterias for Salaried? A Salaried Individual wants to possess Minimum NTH(Net Take Home Salary) Of Rs. 20000/pm.

What will be the earnings standards for self employed? Minimum Income of Rs. 2. 5 to Rs. 3 lakh per annum is the accepted standard.

What is the maximum and minimum loan amount? The minimum loan amount for midsize is Rs. 50, 000/- and highest Rs. 15 lakhs. For Self used the minimum loan is Rs. 1 lakh and highest 20 lakh.

WHAT ARE THE AGE CRITERIAS? For Maximum the minimum age is 21 decades and maximum 60 decades. For Self employed's the Minimum age required is 25 decades and maximum 65 decades.

Is a no income Proof loan accessible? Yes, midsize individuals and self-employed can employ on the grounds of present private loan, automobile loan & home loan monitors on which minimal 9/12 EMI's have already been compensated.

WHAT IS THE LOAN TENURE? The minimum loan payable is 1 year old and maximum 5 decades.

Is securities or guarantors necessary to get a private loan? No collateral, hypothecation, guarantors or mortgages will be required at a private Loan.

Can a individual remaining on lease apply? Yes, applicants remaining on owned, leased or business provided accommodation can employ. Permanent residence address evidence might be necessary in the event of rented/leased, business provided lodging.

WHAT ARE THE INTEREST CHARGES? Interest rates is dependent upon different factors such as the Loan Amount, Company profile, eligibility & Income etc.. It might vary from 16 percent to 26 percent on a monthly reducing basis.

CAN THE LOAN BE PREPAID? Yes, the loan may be prepaid after paying installment.

ARE THERE PREPAYMENT CHARGES? Generally all banks cost 4% to 5 percent of this principle exceptional because prepayment charges.

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cutsliceddiced · 4 years

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New top story from Time: India’s Biggest Slum Successfully Contained COVID-19. But Can Its Residents Survive the Economic Collapse?

Jayanti Keshav Parmar, a tailor who lives in Dharavi, a bustling informal settlement of nearly 1 million low-income residents packed into a one-square-mile area in Mumbai, has been stuck at home since March 25 when the Indian government declared a stringent lockdown to contain the spread of COVID-19.

Before the lockdown, he worked at a store doing alterations and would make about $200 a month, but now he has exhausted his savings. Out of work for over five months, he has not been able to pay the $80 monthly rent on his compact home in Dharavi since March. His sewing machine at home sits idle, as no one in the neighborhood can afford to have new clothes stitched this year. His wife, who had secured some work as a domestic helper in an apartment in Mumbai late last year, was asked to stop coming to the building because of fear of spreading the coronavirus. They are down to cooking one meal a day, the remains of which they eat for lunch the following day. He worries about what will happen if his wife or son fall sick. “If there’s no money for food, how will we pay a big hospital bill?” Parmar says.

Dharavi, often called Asia’s largest slum, is a hyper-dense network of brick homes and small-scale enterprises that sprawl in the shadow of shiny new skyscrapers in the heart of India’s financial capital. Until recently, it was home to a thriving economy, with 20,000-odd factories and small businesses that recycle plastic, make earthen pottery, tan leather, stitch garments, make soap and cook meals. While coronavirus cases in India are soaring—the country is on track to overtake the United States as the nation with the most cases—community engagement and a nimble local government have meant that for now, the virus seems to be contained in Dharavi. But a tough national lockdown declared by Prime Minister Narendra Modi with little warning or preparation has crippled the local economy and residents are struggling to survive.

Read more: How the Pandemic is Reshaping India

Dharavi’s slowdown is emblematic of a wider national decline. The Indian economy contracted by 23.9% in the second quarter, the sharpest fall of any major economy during the pandemic. About 21 million salaried employees lost their jobs from April to August, according to the Centre for Monitoring Indian Economy. Those in the informal economy, which constitutes 90% of India’s workforce and is the bedrock upon which the country’s $2.9 trillion economy is built, have suffered the most. Most people in the unorganized sector do not have any savings and live off what they earn each week, making it impossible for them to cope with months of a protracted shutdown. The loss of income and the diminished purchasing power has depressed demand, and because many small businesses in informal settlements like Dharavi sell to others in the area, the blow to the economy is even harsher.

“The Indian government never took the impact of COVID-19 and the lockdown on the unorganized sector into account,” says Arun Kumar, a professor at the Institute of Social Sciences in New Delhi. It could take up to three years for the Indian economy to recover after the pandemic, he says.

Atul Loke—The New York Times/ReduxDharavi in late April. The hyper-dense network of brick homes and small scale enterprises, which sprawl in the shadow of shiny new skyscrapers, was home to a thriving economy—until recently.

For three months after Modi declared a nationwide shutdown, hundreds of small businesses in this city-within-a-city pulled their shutters down. Some of the narrow lanes were barricaded with planks of wood, broken furniture, and wooden vegetable carts, with signs warning outsiders to stay away. People wearing makeshift masks made from old saris and handkerchiefs occasionally converged in informal markets, where wary residents attempted to keep a distance from each other. Though the Indian economy gradually began to reopen in June, many of Dharavi’s small businesses are still struggling to reboot.

Irfan Bhai, who runs a plastic-recycling business in Dharavi, fears a long-term hit to his business. Before the lockdown, his workshop processed about 15 metric tons of plastic scrap each month, from which he made things like plastic buckets, mugs, and plates. His business, like many others, is entwined with the economic fabric of the neighborhood. The machine that crushes the plastic scrap he buys is next door; many of his clients have offices in the area. He had to shut down his factory in March and has lived on savings since.

“Usually this area is constantly active,” Bhai says. “But during the lockdown, 80% of businesses have been closed. Everything has gone silent.”

Now that the lockdown is over, he says he does not have the money to buy the plastic scrap needed to restart the business, and because of the stigma attached to his Dharavi address, he says he has found it hard to secure a bank loan or access government benefits for small businesses. The walls of his workshop are lined with about 2,000 plastic mugs in vibrant colors, but the packages are all collecting dust.

The last time his business suffered such a blow was in 2016, when the Indian government made a sweeping move to invalidate most of the paper currency in circulation, in a widely criticized bid to curb corruption. “India went back 10 years then,” he says. “Now with this lockdown, India has gone back another 10 years.”

Though Dharavi has emerged as an unlikely story of success lauded for containing the spread of coronavirus, the neighborhood’s battles are far from over. Dharavi was one of the most vulnerable to the spread of the coronavirus in the country because of its high density. While wealthy Indians have been able to shelter in their apartments, Dharavi’s residents live in tightly packed shanties, share public toilets, and rely on community kitchens.

From the beginning, Kiran Dighavkar, the city official leading the response to the virus in Dharavi, knew that standard models of social distancing, contact tracing, and home quarantine would be ineffective here. Instead, his team focused on creating customized solutions that responded to the community’s lived reality. They enlisted local doctors who ran private practices in the area and provided them with the personal protective equipment they needed to re-open their clinics and go door-to-door to screen for people with high temperatures or low oxygen levels. They created health-care facilities and quarantine centers by taking over a sports club, a marriage hall and private hospitals. They set up community kitchens with customized meals so that those fasting during the month of Ramadan could be accommodated. A 200-bed hospital equipped with supplemental oxygen for coronavirus patients was built in just two weeks in a parking lot. The 450 community toilets in the area were sanitized three times a day, and the local government provided free virus tests.

Their efforts paid off. In May, there were an average of 43 new cases each day in the neighborhood. By the third week of August, daily cases were down to six. The local government’s efforts in the area have been commended by the World Health Organization, and officials have been fielding calls from authorities in the Philippines and Kenya for guidance on how to replicate the model in other dense neighborhoods.

“The beauty of the Dharavi model was that it was based on first-hand experiences. Instead of being reactive, we chased the virus,” says Dighavkar, adding that the credit for their success went to community engagement.

But economic hardship has forced people back to work in Dharavi, as in the rest of India. While the Indian government, in a bid to restart the economy, has begun to lift lockdown restrictions, the country now has the largest number of daily confirmed cases in the world and over 5.6 million cases in total. The nearly 150,000 migrant workers who left Dharavi for their villages during the lockdown have begun to return to work, and local officials fear a new wave could infect the community. In the past two weeks, Dighavkar has noticed an uptick in cases in Dharavi with 15 new cases on Thursday. “There is a possibility that the infections might be coming back,” says Dighavkar. “In a pandemic like COVID, nobody can guess what will happen next.”

Ishrar Ali, who stitches women’s tops in a garment workshop in Dharavi and shares the room above the workshop with eight other migrants, has recently returned to the city. Ali, 29, who earned about $70 a month, found it hard to sustain himself in the city when the garment workshop shut down in March. He found himself standing in long lines waiting for food handouts from nonprofits or local officials. In April, he took a bus back to his village in Uttar Pradesh, a state in north India, to be with his parents, wife, and child. But there was little work in the village and Ali was forced to return in August.

“My family was worried about the disease and didn’t want me to return to the city, but I had to come back to work,” said Ali. “You have to take some risk to fill your stomach.”

via https://cutslicedanddiced.wordpress.com/2018/01/24/how-to-prevent-food-from-going-to-waste

#Time #top stories #IFTTT #news

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kimgates07 · 4 years

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Startups in India are on the rise, with many earning accolades of praise and appreciation all over the world and growing to become unicorns and decacorns even within a few months of being founded at times.

With so many startups and the demography of the youth in India being at an all-time high, choosing whom to work for and deciding where they might find their peak and continuous growth as well can be a bit confusing. To make this process easier, we have created a compilation of the fastest growing startups in India.

What are some of the best startups to work for in India?1. OYO homes and hotels

One of the world’s largest hotel chain, OYO homes and hotels was founded by Rishabh Agarwal as an 18 year old in 2013. Amongst several such awards, OYO has also received Startup of the Year, Financial Express, 2015. OYO has come a long way, from being a start-up, to becoming a unicorn and to now being a decacorn. It is aiming to become the world’s largest hotel chain by 2023. It currently manages 515,000 rooms in 10 countries. OYO offers a range of employee benefits for a satisfactory work experience, such as –

Competitive Market Compensation

Financial Security

Healthcare

Time Off

Childcare

Employee Stock Options

2. Cure.Fit

A mobile app, Cure. Fit, has brought together the various aspects of healthy living – from physical fitness to nutrition and home delivering food to mental well-being on a single platform in a manner that makes it fun and practical.

Cure. Fit has adopted a revolutionary work system that makes working there a unique, and fantastic experience. Some of those are –

No hierarchy – their belief in action instead of position creates a work environment that affords a satisfactory amount of freedom to employees to work and lead on projects that drive them.

No ‘leave policy’ – because mental and physical wellness is their mantra above all

Perks such as food allowance and certain privileges over their own services and products for all employees.

Flexible working hours – employees have the freedom to decide time and duration for their working hours as best suited to them.

3. TapChief

This is a system to empower professionals to interact and learn from experts in their domain. They can also work with businesses and organizations across the world and aggregate their personal brand online. It is a simpler and more effective way to network, work and learn online. Employment perks at TapChief

Unlimited vacation days

Pet-friendly HQ and an open to all pantry to boot

Growth and learning opportunities with skilling sessions and monthly meetings with experts from TapChief community.

4. Razorpay

Founded in 2014, Razorpay is a payment gateway in India integrating several payment modes like debit cards, credit cards, net banking, UPI and prepaid digital wallets. Employee benefits –

Flexible working hours

MacBooks for everyone

Food and snacks

10 lakhs accident insurance (employee)

5 lakhs medical insurance (family floater)

5. Bounce

Based in Bengaluru, a bike renting app, Bounce is the perfect app for the introverts, the recluses and the ones feeling generally non sociable for it has done away with the keys as well as the interaction with humans. Download the app, pick a location and a bike, ride to your destination and move on. No keys. No responsibility. No communication. Within a few months of launching dockless scooters in Bengaluru, the firm has completed over five million rides, covering 30 million km. The founders of Bounce – HR Vivekananda, Varun Agni and G Anil – who started with bikes, bicycles and kick scooters are now looking to convert their entire fleet of vehicles into electronic vehicles.

According to employee reviews, Bounce is a fun place to work at offering free healthcare, pension and mentorship

6. Playment

Founded by IIT KGP/Guwahati 2013 grads, Playment is a data labeling platform which helps machine learning engineers build high quality ground truth datasets for training and validating machine learning models. Of the perks of working at Playment, some of them are –

Flexible working hours

Office parties

Sports events

Competitive salary

7. Rivigo

Rivigo provides express surface logistics all over the country. The startup was founded in 2014. Logistics unicorn Rivigo was recently granted patent rights by the United States Patent and Trademark Office for its relay truck model, which allows truckers to drive 4-5 hours at a stretch and return home the same day. Benefits at Rivigo according to employee (current and former) reviews –

Health care and Insurance

Disability insurance

Stock options or equity

Maternity and Paternity leave

Sick leave

Bereavement leave

Job Training and Tuition

8. ACKO

Founded in 2016, ACKO is India’s first InsurTech company. ACKO makes buying and using insurance a seamless, safe and hassle-free process.

Employee reviews acclaim benefits such as free lunch and breakfast, work from home options and great working environment.

9. Mfine

This startup is an AI powered online doctor platform that provides instant online access to doctors from the best hospitals. Employee reviews attribute great learning experience to working here.

10. InterviewBit

This is a platform that teaches you most of everything you need to know for a technological job. It is one of the leading interview preparation websites. Some of the many employee attested benefits of working at InterviewBit are – Healthcare and life insurance, sick leave, free lunch or snacks and reduced or flexible working hours with work from home option as well.

11. UDAAN

This startup is a network centric business that brings buyers and sellers from across the country easily accessible on a single platform. Some of the job benefits according to several employee reviews are – Healthcare and Insurance, pension plan, stock or equity options, performance bonus, maternity and paternity leave, work from home options, child care facilities, sick leave, bereavement leave and free lunch or snacks.

12. Little Black Book

It is India’s biggest platform to shop and discover independent brands and retailers. Based in Delhi, there workforce is 65% women, and 60% of the leadership is constituted by women. Media, Communication, Marketing and sales form their largest job functions with digital marketing, social media marketing and creative writing as their most common skills.

Client reviews have attributed benefits such as free coffee and the opportunities to learn, grow and meet high end clientele.

13. Dunzo

This Bengaluru based, google backed concierge service platform prides itself in its super quick deliveries, from groceries and pet food to medicines and most of whatever else you may need delivered. Programming languages such as SQL, C ++ and C form its core skills in operations, engineering and sales. They offer wellness camps, medical coverage, monthly Dunzo cash on the app, Parental leave for mothers (6 months) as well as fathers (15 days).

14. upGrad

A further education online platform especially curated for working individuals, upGrad with its expanding business, is on the lookout currently to hire more than 150 employees. It is focusing on education, engineering and business development. The skills most likely to get picked up are SQL, JAVA, Analytics for jobs in sales, marketing and career support.

Employee reviews suggest job benefits such as – work from options, flexible environment, learning opportunities, great company culture and work-life balance, Healthcare and Insurance, free snacks and maternity and paternity leave.

15. Nineleaps

True to its name, Nineleaps enables businesses to take the leap into technological advancement and re-invent. They help the company become increasingly productive and advance in terms of their technological usage in the company’s processes. They welcome freshers and interns and experienced workers alike. To add fun moments and break the monotony of a regular day of work, they sometimes hold hackathons, sports tournaments and various such activities. Women are even offered a cab service from the company. Java, SQL and JavaScript are skills they are looking for in their employees

16. Simpl

An online payment platform, Simpl markets itself ‘anti-wallet’ having enabled online purchases with options such as ‘pay later’. It boats of 2 million transactions in a month with big wig clients such as Zomato and Swiggy. With their largest job functions being in engineering, operations and marketing the skills they most commonly scout are SQL, Analytics and JavaScript among others. They also offer perks such as free lunch or snacks, employee assistance programs and vacation and paid time off.

17. Meesho

Meesho is one of the fastest growing e-commerce companies in India. From homemakers, teachers, and students to boutique owners, professionals and businessmen and women can resell on Meesho. Resellers get the opportunity to earn margins more than 25,000 monthly, get bonus upto 6000 weekly and earn commission upto 5000 per referral. They also cover various insurance plans, offer maternity and paternity leave, work from home options as well as a free lunch or snacks.

18. Digit Insurance

They call themselves ‘the simplifiers’ for how easy and user friendly they make the process of getting an insurance. Their largest job functions are in business development, finance and engineering. Their most common skills are SQL, Business Analysis and Java.

Employee reviews attribute benefits such as onsite parking, gym and creche, coverage of brokerage/relocation costs if moving to job location, healthcare and life insurance, pension plan and performance bonus, employee discount as well as free lunch or snacks.

19. Karza Technologies

Based in Mumbai, Karza Technologies specializes in Banking Applications, Credit Assessment, Loan Monitoring, Fraud Analytics, Big Data Analytics, Business Intelligence. They have no fixed time for their employees nor a minimum number of days to clock in just as long as they get their job done. Their required employee skills are most commonly Python, SQL and Java with largest job functions in engineering, research and business development. Employee review has avouched working at the start up to be a great learning experience.

20. StashFin

A privately held company in the financial services, StashFin is a digital lending venture with its headquarters in New Delhi. The company’s most common skills are SQL, MySQL and Web Development with their largest job function in Engineering, Information Technology and Business Development. They offer perks such as Job training and tuition and performance bonus.

Accreditation and Awards for best companies to work for

The merits of a company and their standard of quality are accredited every year through the means of several professional awards decided by a panel of experienced businessmen and big wig companies of the corporate world. These awards are especially bolstering for start ups since it can raise their credibility and also earn them visibility in the corporate world of corporate function. They also serve as morale boosters for the employees and affords individual recognition to the exceptional workers. Mentioned below are few such nationally and internationally acclaimed awards.

A List of awards that identify good companies to work at

1. Best Company Award by Small Business BC Awards

This is given to the company that displays applaudable leadership. One that empowers its employees, motivating them and making them efficient with innovative HR practices, as well as showing a proven track record of growth profitability for at least the last to fiscal years and must have less than 50 employees.

2. Employees’ Choice Award

Winners for the 2019 Top CEOs and Top CEOs at Small & Medium Companies determined using Glassdoor’s algorithm indicate how good a business is to work for an employee by displaying the approval ratings of existing employees of the company on their CEO.

3. 50 best workplaces in India.

Identified by Global management consulting and research firm Great place this compilation represents the 50 best places to work for in India. The businesses taken into consideration constitute between 100 to 500 employees

4. LinkedIn Top Companies

Where India wants to work now. They take into consideration three things – job application, engagement and employee retention.

5. 100 Best Companies for Women in India

The AVTAR Group and Working Mother joined forces to select the 100 best companies that are facilitating women in thriving at both, work as well as home life. workforce profile, flexible work, women’s recruitment and retention, benefits, paid-time off, company culture and safety and security, as provided by the applicant companies.

6. SHRM India HR Excellence Awards

This award recognizes businesses that put people first. Businesses that recognize the importance of employees in the achievement of their goals.

7. Mercer-NDTV Employer Excellence Awards

Award introduced in collaboration with Mercer and NDTV, this award recognizes the businesses that put considerable effort in making their workplaces diversity friendly, encourages a healthy work life balance and puts their people first. This award is given out in 10 categories – Excellence In Work Life Balance, Employee Recognition, Capability Building, Digital HR, Workplace Diversity, Connected Organization, Career Development, Innovative Hiring, Employee Well-Being, Innovative Benefits

8. Employer Branding Awards

Businesses that realize the importance of creating a proper brand experience for the employees just as much as the customers are the ones recognized through this award. Companies that are contributing to the ‘Talent Management, Talent Development and Talent Innovation’ are who form part of the employer branding status.

9. India’s Best Companies To Work For

Several companies apply to Great Place to Work® Institute in order to get their companies assessed and benchmarked for their workplace culture. They also recognize – Best Companies To Work In Employee Wellness, Best Companies To Work In Employer Branding, Best Companies In Utilizing Analytics To Drive Great Place To Work® Initiative, Best Companies in Workplace Transformation Case Study Competition and Developing People Managers etc.

10. The Aon Best Employers Study and Award

This is one of the most prestigious awards in the corporate world. The companies are finalized on the basis of characteristics – Engagement, Leadership, Performance Culture, and Employer Brand.

#startups in India #best startups

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vsplusonline · 5 years

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MSMEs prepare for layoffs, closures, if impact is felt beyond April

New Post has been published on https://apzweb.com/msmes-prepare-for-layoffs-closures-if-impact-is-felt-beyond-april/

MSMEs prepare for layoffs, closures, if impact is felt beyond April

MUMBAI: Medium and small businesses are bracing themselves for extended pain, layoffs, and even closure if the Covid-19 pandemic continues beyond April as they lack the deep pockets to sustain business if revenue generation takes a hit. Businesses are already struggling as working from home has reduced efficiency for many.

“We do not have the infrastructure like video conferencing and hence a small company in, say, Nashik cannot serve a customer in Delhi without in-person interaction,” said Sudhir Mutalik, managing director at Positive Metering Pumps, a Nashik-based dosing pumps and systems maker.

For payment collection too, smaller companies rely on sending collection agents, he said.

Moreover, while white-collar jobs may be done remotely, that is not true for manufacturing. A complete lockdown to mitigate social spreading of the coronavirus may impact the revenue generation of manufacturing companies. “Secondary producers are typically smaller in size and have lower diversification in terms of products and markets, which keep them in a more disadvantageous position,” said Jayanta Roy, senior vice president at ratings agency ICRA. Micro, small and medium enterprises (MSMEs) contribute about 30% to India’s $2.7 trillion GDP, according to data from the MSME ministry, and employ about 111million people. A third of these enterprises are involved in manufacturing operations.

“Some of the major challenges faced by MSMEs would be with labour force and bank loans, as there would be expenses on paying salary and EMIs,” said Chandrajit Banerjee, director general of industry lobby CII. Companies are not yet considering lay-offs but in the absence of revenue generation, a medium or small enterprise on average would not be able to pay its employees beyond a month, experts said. “At the moment, we are not planning any lay-off. But, if things get worse, we will lay-off workers who travel long distance. It has to happen,” said Anand Kumar Bhargava, CEO, All India Steel Re-Rollers Association.

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cleopatrarps · 6 years

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Asia oil bill to top $1 trillion a year as crude hits $80

SINGAPORE/MUMBAI/MANILA (Reuters) – The cost of Asia’s growing thirst for oil will surpass $1 trillion this year, about twice as much as in 2015 and 2016, as oil prices touch $80 per barrel and continental demand hits a record.

FILE PHOTO: Motorists drives past an electronic board at a gas station in Paranaque city, Metro Manila, the Philippines February 4, 2016. REUTERS/Erik De Castro/File Photo

Oil prices have risen nearly 20 percent since January and topped $80 per barrel in intraday trading on Thursday LCOc1 for the first time since 2014. [O/R]

With the U.S. dollar .DXY – in which most oil is traded – strengthening, concerns are rising about the size of the hit to economies from higher energy prices, especially in import-reliant Asia. Surging costs could feed inflation and hurt both consumers and companies.

“Asia is most vulnerable to an oil price spike,” Canadian investment bank RBC Capital Markets warned in a note this month, after oil prices hit their highest since November 2014.

Asia-Pacific consumes more than 35 percent of the 100 million barrels of oil the world uses each day, according to industry data, and its share is steadily rising.

Asia is also the world’s smallest oil-producing region, accounting for less than 10 percent of output.

(Graphic: reut.rs/2wLchCf)

INFLATION, RISING COSTS

U.S. bank Morgan Stanley said this week that diesel use contributes 10-20 percent to cash costs for miners, while oil contributes from 4 percent to 50 percent to the cost of power generation, depending on a company’s or country’s fuel mix.

FILE PHOTO: A worker fills a car with diesel at a fuel station in Jammu August 29, 2013. REUTERS/Mukesh Gupta/File Photo

“A rising oil price therefore shifts the entire cost curve higher,” it said.

China is by far Asia’s – and the world’s – biggest importer of oil, ordering 9.6 million barrels per day in April. That’s almost 10 percent of global consumption.

At current prices, this amounts to a Chinese oil import bill of $768 million per day, $23 billion per month – a whopping $280 billion a year.

Other Asian countries are even more exposed to rising oil prices. Most damage will be done to countries like India and Vietnam, which not only rely heavily on imports, but also where national wealth is not yet large enough to absorb sudden increases in fuel costs.

“Poorer countries with limited borrowing capacity may face financing difficulty amid higher import bills,” RBC said.

Unless fuel is heavily subsidized, households and businesses in poorer countries are also more vulnerable to rising oil prices than they are in wealthier nations.

In developing economies such as India, Vietnam or the Philippines, fuel costs eat up around 8-9 percent of an average person’s salary, according to Reuters research and figures from statistics portal Numbeo. That compares to just 1-2 percent in wealthy countries such as Japan or Australia. (Graphic: reut.rs/2wLchCf)

DIESEL & LOGISTICS

The surge in oil prices has a particularly big impact on transport and logistics companies. One such firm in Asia is courier LBC Express Holdings (LBC.PS) in the Philippines.

“LBC has been intently watching the movement of crude oil prices … What we, at LBC, are preparing for are the effects an oil price increase may have on our carriers: airlines, shipping lines, trucking companies,” its Chief Financial Officer Enrique V. Rey Jr said.

The high oil price “challenges us to improve our own efficiencies to achieve better economies of scale and maintain our margins,” he said.

Some firms say they will pass on any higher costs to consumers.

Chryss Alfonsus Damuy, president and chief executive at Philippine firm Chelsea Logistics (CLC.PS), said his firm could be affected by higher oil prices, but “we can pass on the effect to consumer via price adjustments.”

Others said if they burden consumers with higher costs, they will lose clients.

Ashish Savla, owner of 50-truck strong Pravin Roadways in Mumbai, India, said diesel accounts for more than half of his company’s expenses, and that it was difficult to pass rising expenses on to customers.

“Diesel prices have jumped 16 percent in a year, but I couldn’t raise freight charges by 5 percent. If I charge more, clients will use cheaper railroads,” Savla said.

Anil Mittal, who runs a container logistics company and is a member of Bombay Goods Transport Association, said his firm was “already operating at wafer-thin margins” before prices rose.

The “diesel price hike has hit our business hard,” he said. Many small transport firms like his “are struggling to pay back bank loans they took to buy trucks.”

Given the economic costs and its reliance on imports, economists say it is time for Asia to limit its exposure to oil.

“It is very important for Asia to reduce its oil dependency and increase its energy efficiency … to protect itself from future oil shocks,” RBC Capital Markets said.

Reporting by Henning Gloystein in SINGAPORE, Rajendra Jadhav in MUMBAI and Jerome Morales in MANLIA; Writing by Henning Gloystein; Editing by Tom Hogue

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