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Archives for August 2018

Capital Float buys finance management app Walnut for Rs 209 cr

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Bengaluru-based lending company Capital Float on Tuesday announced it has acquired Pune-based personal financial management app Walnut for $30 million (nearly Rs 209 crore).

Walnut has over seven million downloads on Google Play Store, an average rating of 4.4/5 and is featured in Google Editor’s Choice list of Top 5 Financial applications.

The acquisition followed Capital Float’s announcing its foray into the Consumer Finance vertical, emphasising a strong strategic focus on leveraging this lucrative borrower segment, the company said in a statement.

“We’re excited to collaborate with Walnut, an accomplished member of the Fintech ecosystem. Their approach towards leveraging technology to solve financial concerns of the common individual was particularly impressive, and we eagerly look forward to working closely with them,” said Sashank Rishyasringa and Gaurav Hinduja, Co-Founders of Capital Float.

Walnut helps users automatically track spends, bank and card balances, bill payments and split expenses within a group.

In July 2017, Walnut launched “Walnut Prime”, an instant credit line that users can access on the app anywhere, anytime. This app-based credit line is centred on Walnut’s “Prime Credit Score”.

Walnut has crossed the Rs 100 crore-mark in loans to users on its mobile app.

“We believe having Capital Float on our side opens up an immense set of opportunities by leveraging their strength in online lending and financial products with our innovative approach to consumer experiences,” said Patanjali Somayaji and Amit Bhor, Co-Founders of Walnut.

Founded in 2013, Capital Float leverages technology and Big Data Analytics to deliver innovative credit products to businesses and individuals across the country.

[IANS]

Kerala floods: Challenge shifts from rescue to relief

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Thiruvananthapuram As rescue operations in Kerala on Monday entered its final stages, the biggest challenge before the authorities in the flood after

math turned into managing the over 5,500 relief camps housing more than 7,00,000 people across the state.

The weather looked promising with no major rainfall expected in the state. Many people though continued to wait for rescue to arrive in several parts of Ernakulam district and interior Chengannur in Alappuzha district.

The death toll stands at 370, from May 29 when Kerala got the first of the monsoon rains, with the bulk of the fatalities being reported after August 9.

A tragedy of unprecedented proportion gripped the state after sluice gates of several rain-filled dams had to be opened.

On Monday, helicopters started their rescue operations in places where people still remained marooned. Several of the other helicopters transported food and relief materials from here.

Chengannur legislator Saji Cherian said: “We have despatched 70 rescue teams in boats who have reached 60 places where people are still trapped. We are confident that by Monday evening all will be rescued.”

In Ernakulam, Paravur legislator V.D. Sateeshan said while a huge majority of those stranded have been rescued, at least 1,500 are still trapped in very remote areas. Accessibility is the biggest problem.

“We are sending individual rescue teams to these places and hopefully we will be able to save them,” said Sateeshan.

Some people trapped in water-logged Kuttanadu in Alappuzha had refused to board the rescue boats. A lot of persuasion was required from the police teams to bring them to relief cam

Congress leader P.C. Vishnunath told the media in Chengannur: “Bio-toilets have to be set up. In many camps they are overflowing. Engaging in basic needs has become a problem.”

Waters at the Cochin International Airport also receded on Monday. The airport was shut since August 15, after water entered the operational area. Authorities have started the cleaning up process.

On Monday, small aircrafts started operating from the Cochin Naval Airbase.

Rains in the catchment areas of the big dams in Idukki district have also subsided. The outflow of water from both the Mullaperiyar and Idukki dams have been reduced.

As a result, the water flow into the Periyar and its tributaries that flow through Ernakulam and Thrissur has come down considerably.

The railways started operations in the Kottayam sector and also to other sectors to Shornur.

The Kerala State Road Transport Corporation also began operations frommany depots and it was expected to be fully functional in a day or two.

Kerala faced the heaviest rains and consequent floods and destruction since 1924, and the state government estimates the loss to be around Rs 19,500 crore.

[IANS]

Kerala CPI asks Minister to return from Germany

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The Kerala unit of CPI on Monday admonished Forest Minister P. Raju from the party for leaving for Germany last week when the state was in the grip of devastating floods and directed him to return immediately.

State Communist Party of India Secretary Kanam Rajendran told the media here that the party had taken a dim view of Raju’s trip abroad from August 16.

“He has been asked to return immediately,” said Rajendran.

Though there were murmurs within the CPI for strict action against Raju, informed sources said that a strict warning will be issued for his alleged callousness in going abroad when a calamity had struck Kerala.

[IANS]

Indira canteen has lost cutlery worth Rs 20 lac in one year!

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The Siddaramaiah government had started Indira Canteen with the genuine intention of feeding people quality food at a subsidised cost. Unfortunately for some, this canteen is not just a place to pacify hunger, but it is also a place to lift cutlery!

Surprising but true, the 168 canteens across the state have lost spoons, plates and glasses worth Rs 20 lac in last one year.

According to the data, in the last one year, the Indira canteens have lost 1.5 lakh spoons and 10,000 plates. A spoon costs Rs. 15 while a plate costs Rs. 50.

It is estimated that over 2.15 lakh people are served food at these canteens on an average per day and in one year over six crore people have relished food here.

However, it is a sad state that a section of people fail to respect the intentions behind the canteen and insult the efforts of the government by resorting to theft, says a regular canteen goer.

Afghan Taliban kidnap 170 passengers

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Kabul,  Taliban militants on Monday kidnapped 170 passengers after they launched an ambush on three buses on the highway connecting Kunduz province to Takhar, police said.

The Security Director of Kunduz Security Commandment, Safiullah Mahzon confirmed the incident and said the passengers were abducted from Khanabad district, reports Khaama News.

Mahzon said the passengers were on their way to Kabul.

No further details were immediately available.

The incident comes after a day President Ashraf Ghani offered the Taliban a conditional ceasefire.

[IANS]

Shiradi ghats to remain closed till December

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The Public Works Department (PWD) has decided to open the Shiradi ghats for vehicular movement only after December due to the rampant landslides having virtually destroyed the roads.

According to a decision communicated to the National Highway Authority of India (NHAI), the Shiradi ghat road, which was opened for vehicular movement on July 20, has been totally destroyed between Kempuhole and the Addahole. Keeping in mind the safety of the commuters, it has been decided to open the road only after repair works in the month of December. This means, the passengers have to now depend on the Charmadi ghat road, which is also facing the risk of landslides.

Meanwhile, the SWR is expected to resume train service between Bengaluru and Mangaluru via Hassan, in September first week after setting right about ten kms of railway track that was destroyed by the rains.

Modi for ‘constructive engagement’, Pakistan says no dialogue on table

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Prime Minister Narendra Modi has written to his new Pakistan counterpart Imran Khan that India desires “constructive engagement” with Islamabad but Pakistan quickly clarified that there was no offer of a bilateral dialogue.

Modi wrote to Imran Khan expressing India’s commitment to build good neighbourly relations and pursue meaningful and constructive engagement with Islamabad.

He also talked about a shared vision to bring peace to make the subcontinent free of terror and violence.

Informed sources said in New Delhi that Modi wrote to Khan on Saturday, congratulating him after he took oath as the 22nd Prime Minister of Pakistan.

Modi expressed India’s commitment to build good neighbourly relations between New Delhi and Islamabad and pursue meaningful and constructive engagement for the benefit of the people of the region.

He expressed the belief that the smooth transition of government in Pakistan would strengthen people’s belief in democracy.

Modi recalled their telephonic conversation in which they spoke of a shared vision to bring peace, security and prosperity in the subcontinent to make it free of terror and violence.

In Islamabad, the Foreign Ministry denied that Pakistan’s new Foreign Minister Shah Mahmood Qureshi had stated that Modi made an offer of a dialogue.

“In response to a query regarding the controversy being unnecessarily created by sections of the Indian media, the Foreign Minister had not stated that the Indian Prime Minister had made an offer of a dialogue,” the Ministry said in a statement.

“The Indian Prime Minister in his letter to Khan had mentioned something similar to what the Foreign Minister elucidated earlier that the way forward was only through constructive engagement.”

Earlier on Monday, Qureshi said that there was a need for “continued and uninterrupted” dialogue with India, which was the only way forward for the two neighbours to resolve outstanding issues.

Qureshi, the ruling party Pakistan Tehreek-i-Insaf’s (PTI) Vice Chairman, was sworn-in earlier in the day along with 15 other members from Imran Khan’s 21-strong cabinet, Dawn news reported.

“Pakistan looks forward to a mutually beneficial, uninterrupted dialogue with India to resolve all issues,” the Ministry said.

“Any attempts to instigate controversy and vitiate the environment are counter-productive and against the spirit of responsible journalism.”

COLUMBIA ASIA HOSPITAL WHITEFIELD ON ORGAN DONATION – A PRICELESS GIFT

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Columbia Asia Hospital Whitefield celebrated the Organ Donation Day by organizing a discussion on the pros and cons of Organ Donation and to create awareness among donors.

Donating an organ is providing the slightest ray of hope for many unfortunate patients, the best kind of gift one can lend their hands in. While in India, there is a crisis of organ donation, the purpose of this event is not only to make people more aware but also to promote the concept of “Gifting an Organ”, as an organ donated can save a life and start an era.

The discussion revolves around how the general mass feels about Organ Donation. In India, the myths and fears that a person has to face regarding the same has caused huge crisis in Organ Donation. To create more awareness and have a positive impact on getting more people interested,along with discussing about advanced technologies that are gradually changing the scenario.
Among the dignitaries, speaking on the occasion Dr. Pallavi Patri, Consultant-Chief of Nephrology & Renal Transplant, Columbia Asia Hospital Whitefield said “Organ Donation comes as a boon to the affected patients with a need of transplant. Transplants are only possible if the donor signs up and eagerly chooses to donate under no pressure or influence. For instance, when you donate your eyes, you are seeing for that person, you have a part of you residing in that person. In India, to overcome the disparity in donation, more donors are needed, so that the waiting list for organ donation is under control. There are so many illicit means and procedures going on in the name of Organ Donation, to get rid of that, more donors have to sign up and make a change.”

“It is the perfect platform to let out and discuss about the fears and myths related to donation. The modern and improved technologies have drastically changed and simplified the transplant procedures. Donating an organ is donating life to a person. The safest methods have made it possible for the living donors to continue with their lives soon after the donation. All the essential precautions and necessary protection are taking into care, so donor doesn’t have to suffer from infections or post-surgical traumas. Even with the growth in technology, the number of donors are still far low in comparison to the patients in need of transplant. Let us all come together and work for a better world, building on today’s vision by implementing the rightful strategies” saysDr. Manohar T, Senior Consultant-Urology, Columbia Asia Hospital Whitefield.

About Columbia Asia Hospitals Pvt. Ltd.
Columbia Asia Hospitals Pvt. Ltd. is the only company in India to utilize 100% foreign direct investment (FDI) route in the hospital sector.
About Columbia Asia Group of Companies
The Columbia Asia Group is owned by more than 150 private equity companies, fund management organizations and individual investors. The group currently operates eleven facilities in India and has presence in Ahmedabad, Bangalore, Gurgaon, Ghaziabad, Kolkata, Mysore, Patiala and Pune. The company also operates hospitals in Malaysia (12), Vietnam (3), and Indonesia (3). The Indian management operations are managed from its office in Bangalore.

3rd Test: India take 292 runs lead at stumps on day 2 vs England

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A disciplined batting helped India score 124/2 in their second innings, taking 292 runs lead Aat stumps on the second day of the third Test match against England here on Sunday.

Cheteshwar Pujara (33) and Skipper Virat Kohli (8) were at the crease when umpires dislodged the bails for the day.

For England, Adil Rashid and Ben Stokes chipped in one wicket each in the last session.

The day started with England bowlers wrapping up India’s first innings for 329 just before the lunch.

Ajinkya Rahane (81) and skipper Virat Kohli (97) shone with the bat and helped India post a challenging score.

Resuming the second day at 307 for six, India’s lower-order batsmen — Ravichandran Ashwin (14) Ishant Sharma (1 not out), Mohammed Shami(3) and Jasprit Bumrah (0) — failed to make any substantial contribution to the score.

Overnight batsmen Rishabh Pant only managed to add just two runs to his score before going back to the pavilion.

Coming into bat, England started their innings steadly. The hosts were 46/0, trailing by 283 runs at lunch. England openers Alastair Cook Aand Keaton Jennings applied themselves handsomely and made sure they went for lunch without losing any wicket.

Cook faced 30 balls and slammed three boundaries while Jennings played 25 deliveries and hit the same number of boundaries.

But after lunch, England struggled as Indian bolwers bounced back in style. Hardik Pandya’s 5/28 broke the back of English batting line-up as the hosts were bundled out for 161 in their first innings.

India rode on a brilliant bowling display as the entire England batsmen were wrapped after they added just 115 runs in the second session of the second day.

After a decent start, as England were 46 for no loss at lunch, the Indian bowlers came all guns blazing to hand their side a 168-run lead after India’s first Inning score of 329.

Apart from Pandya, pacers Ishant Sharma and Jasprit Bumrah scalped couple of wickets each conceding 32 and 37 runs respectively while Mohammed Shami bagged one.

Jos Buttler was the top scorer for the hosts with his 39 runs while openers Alastair Cook and Keaton Jennings chipped in with 29 and 20 runs respectively.

The final session saw Indian batsmen swelling their overall lead. Openers Shikhar Dhawan (44) and Lokesh Rahul (36) gave the steady start. But just when things seemed good in the middle Rahul was sent back to the pavilion. He was clean-bowled by Ben Stokes.

Soon, after adding 61 runs with Pujara, Dhawan was also dismissed by spinner Adil Rashid when scoreboard was reading 111.

But Kohli and Pujara then played sensibly and without losing their wickets and ended the day by swelling their lead.

India U-16 boys lose to Oman 1-2 in football friendly

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After finishing the WAFF U-16 Championship at the second spot above defending AFC U-16 Champions Iraq, Jordan and Yemen, India U-16 boys went down 1-2 against Oman in a friendly football fixture played in Turkey.

After Oman scored on either side of half-time on Monday, Vikram scored from the penalty spot in the added time of the match to halve the scoreline.

After playing 10 matches against 8 Asian countries who have already qualified for the AFC U-16 Championship, India took on Oman in their latest friendly fixture.

The first half of the match was mostly played in the middle of the pitch before Shabas put in a brilliant cross but Rohit couldn’t convert it.

Oman took the lead three minutes to the half-time whistle.

Oman doubled the lead in the 55th minute to put them in a comfortable position.

Coach Bibiano Fernandes rang in a few changes to find the back of the net but Oman stood tall to thwart their efforts until the final minute of the regulation time.

Vikram was brought down in the box in the 89th minute and the skipper slotted in the spot-kick to halve the gap.

Although India pushed hard to find the equaliser towards the end, Oman held their nerve to win the match.

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