Mr C J George Managing Director, Geojit BNP Paribas Financial Services Ltd Elected as Chairman, CII Kerala State Council for 2013-14

Mr C J George, Managing Director, Geojit BNP Paribas Financial Services Ltd is elected as the Chairman of CII, Kerala State Council for the year 2013-14. 

Mr C J George, has been closely associated with the CII and was the Vice Chairman and Convenor of the Membership Services Panel of Kerala State Council for the year 2012-13 and involved in many activities and initiatives of CII.

He has done M.COM and has got Industry Certification CFP^CM (Certified Financial Planner).

Mr Shyam Srinivasan, Managing Director & CEO, The Federal Bank Ltd is elected as the Vice Chairman of CII, Kerala State Council for the year 2013-14.

Mr Shyam Srinivasan has taken charge as the Managing Director & CEO of the Bank with effect from 23rd September 2010. He joined Federal Bank after having worked with leading multinational banks in India and overseas across Middle East, India and South East Asia, where he has gained significant experience in retail lending, wealth management and SME banking.

Bottled water price not hiked, clarifies KBWA

Kochi, 12th March 2013: The Kerala Bottled Water
Manufacturers’ Association (KBWA) reiterated on Monday that
its members were still selling bottled waters at Rs.15 a litre.
KBWA was responding to the news item, appearing in a section
of the media, that the price of bottled water in the state has
been revised upward.
“It’s a false. We’d earlier standardized the price of bottled water
in the interest of consumers. We’ve not increased the price of
bottled water”, KBWA president M.E.Mohamed clarified.
He said the clarification was being issued in the interest of
consumers. “We don’t want the consumers to pay more or get
cheated.They should know that there’s not been any price
increase”, Mohamed said.
He also questioned the Groundwater Department’s recent
warning to the bottled water manufacturers in the state to cut
the production by 50 per cent.
“Groundwater Department asked us to cut the production by
50 per cent based on a recommendation from Disaster
Management Department or face closure. It’s not the right thing
to do”, Mohamed pointed out.
According to him, the state is reeling under drought and people
running from pillar to post for potable water. This being the
scene, it’s not right on the part of Groundwater Department to
insist on a production cut.
“It’ll add to drinking water scarcity. Such a situation could be
exploited by unscrupulous players to hike the price of bottled
water”, Mohamed cautioned.
The Groundwater Department order, according to him, will very
badly hit the flat-dwellers of Ernakulam, Thiruvananthapuram
and Kozhikode, a majority of who depend on bottled water.
If the Groundwater Department remains adamant, drinking
water would become a dream for many, Mohamed cautioned.

Kerala Plants to Set up a Feeder Airport in Wayanad

The Government of Kerala plans to set up feeder airport at Wayanad.  This airport is aimed at boosting the connectivity which will enhance the tourism potential of the District and the State.  Presently,Wayanad is connected only through road.  Feeder airports will offer connectivity to the nearest airports in the area.  Other supplementary infrastructure is also proposed which are aimed at increasing the economic activity in the region.

The Airport Authority of India had suggested setting up the airport in about100 Ha in Panamaram – Nadavayal Villages in Wayanad District.  The Airport is proposed to be developed in Public Private Partnership model.

KSIDC was entrusted with the preparation of Techno Economic Feasibility study and Environment Impact Assessment.  KSIDC has invited offers from global consultants for carrying out the study.  After evaluation of the offers received KSIDC has appointed M/s.Knight Frank (India) Pvt. Ltd for carrying out the Techno Economic Feasibility study and Environment Impact Assessment (EIA) study.  The Government will take a call on the proposal on submission of the reports.  The study will be completed in six months’ time.

Technical Collaboration on Automation Technologies between Higher Education Department (Govt. Of Kerala) & Bosch Rexroth

Kochi, 4th March 2013: The Higher Education Department, Government of Kerala in
association with M/s Bosch Rexroth India, a 100% subsidiary company of Bosch Rexroth
AG, Germany is launching a technical collaboration on automation technologies. Bosch
Group is a global company with wide network of operations in Automotive, Industrial and
Consumer goods and building services sectors. It is a large multinational company, with a
turnover of 350,000 crores. Bosch Rexroth is one of the world’s leading specialists in the
field of drive and control technologies. Under the brand name of Rexroth, the company
supplies more than 500,000 customers with tailored solutions for driving, controlling and
moving. As The Drive & Control Company, Bosch Rexroth develops, produces and sells
components and systems in more than 80 countries in the technology fields Electric Drives
and Controls, Industrial Hydraulics, Mobile Hydraulics , Linear Technology, Assembly
Technology and Pneumatics.

Government of Kerala, had showcased many projects in the Emerging Kerala Summit to
tackle the increasing unemployment among youth. This is one such initiative designed
to create a new strategic framework for skill development for early school leavers.
The scheme is targeted to make 300,000 students in the under graduate level skilled
with hands on experience with real work situations. Government of Kerala, through its
Emerging Kerala initiatives, has been able to attract some of world’s biggest corporate
groups to associate in the private sector-led skills training programme for graduates and
post-graduates in the state.

In joint venture with Government of Kerala, M/s. Bosch Rexroth shall set up Knowledge
Centres in automation technologies at sixteen educational institutions in the state. To
Start with, one centre of excellence at College of Engineering Trivandrum and one
centre of Skill development at Government Polytechnic, Kalamassery will be set up.
These Knowledge Centres will be either at the level of Centre for Excellence or Centre of
Competence, which will provide in depth knowledge on Automation technologies. Centres
of excellence will provide hands on training in Hydraulics, Pneumatics, PLC’s, Sensorics,
Motion logic controllers, CNC Control systems, Mechatronics and Robotics. In future
these Centres will be able to start PG programs and Research programs in Automation
Technologies, thereby increasing the employability of students undergoing training.
This collaboration has been designed as a Public Private Partnership Model. The total
expenditure in setting up one Centre of Excellence is estimated at Rs. 538 lakhs and that
of one Centre of Competence cum skill development centre will be around Rs. 439 lakhs.

A Memorandum of Understanding will be signed between the Government of Kerala
and M/s Bosch at a function held at Symphony hall, Mascot Hotel at 7.30 pm on 5th

March 2013. Hon Minister for Industries and Hon Minister for Education along with
many dignitaries will be present on the occasion. Dr K M Abraham IAS, Additional Chief
Secretary (Higher Education), will be signing the Memorandum of Understanding for
Government of Kerala and Mr Peter Garcia, Director, Drive Control Academy Germany will
be signing on behalf of Bosch.

L&T Infra Lowers its PLR by 0.25% to 15.50%

Mumbai, 28 February 2013: L&T Infrastructure Finance Company Ltd
(L&T Infra) - a wholly-owned subsidiary of L&T Financial Holdings Ltd,
belonging to the engineering conglomerate Larsen & Toubro Ltd (L&T)
- has been contributing to the growth of infrastructure sector for over
six years now, since obtaining NBFC registration from RBI in January
2007. An RBI-registered Infrastructure Finance Company (IFC) and a
Public Financial Institution (PFI) u/s 4A of the Companies Act, it has an
infra/allied sector financial assets book of over Rs.13,250 crores as of 31
December 2012.

As is customary for financial institutions, L&T Infra has its own Prime
Lending Rate - namely, “L&T Infra PLR” - that is reflective of its cost of
funds, operating expenses, margins to cover portfolio risk etc.

Consequent to the latest set of monetary easing steps announced by the
RBI - including a 0.25% reduction in Repo Rate - to spur India’s economic
growth momentum, the cost of borrowings for all banks and financial
institutions, including for L&T Infra, would correspondingly become lower
now.

Accordingly, in order to pass on such benefit to its infra/allied sector
clientele, L&T Infra has decided to lower the “L&T Infra PLR” by 0.25% to
15.50% p.a. effective 1 March 2013. This revised PLR shall be applicable in
respect of both existing loans and new disbursals, in accordance with the
relevant clauses in the Facility Agreements.

In keeping with its pro-active market responsive approach, L&T Infra
would continue to monitor the monetary policy measures by RBI, and
review its PLR periodically.

Federal Bank redefines the style of payment of fare in Kochi

Kochi- Federal Bank makes the auto drivers in Kochi the proud beneficiaries of IMPS – Immediate Payment Service. The service was inaugurated by Mr. K. Padmakumar IPS, IGP, Kochi Range in the presence of Mr. Oommen Benjamin, GM, Ernakulam Zone, Mr. Nandakumar.V, Regional Head, Mr. D. Sampath, Addl GM & Mr. Thampy Kurian Addl. GM at the Bank’s complex at Marine Drive Ernakulum. The gathering was attended by a large number of auto drivers.

This facility enables the auto drivers to receive their fare from the customers of any bank. This is a cashless, mobile based payment system which accommodates any odd amount starting from Re 1 and adds enormous convenience and security to both passengers and drivers. This obviously eliminates the growing problem of coin shortage by supporting even payment in paise.

A passenger can make payment by sending an SMS from his mobile phone to his bank.  The simple instructions to follow are displayed inside the auto rickshaw.  The bank of the passenger processes the transfer request with the technical support of National Payment Corporation of India (NPCI) and sends the SMS confirmation to both the passenger and the driver.  All this happens within seconds. 

Federal Bank is engaged in a mass programme of redefining the style of payment in Kochi by helping merchants, auto/taxi drivers and individuals enabling them to make use of cashless mobile based payments.  

Lulu's first Mall in India will be open at Edappally, Kochi in March 2013

The Abu-Dhabi-based Lulu-Emkay group's INR16 billion (AED1.08bn) mall in Kochi, in the state of Kerala, will be inaugurated in the month of March 2013.

The mall, in the Edapally area of Kochi, covers 17 acres and includes a large ice rink, muliplex cinema, restaurants, a Lulu hypermarket and a bowling alley. The developer is also building a Marriott hotel as part of the complex. In addition to this, being a huge mall and first of its kind, the mall is expected to be a hot tourist attraction. 

Signage describes the development as "India's largest shopping mall".