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<ul><li>The Indian army has revised its policy for the purchase of four wheelers from the Canteen Stores Department (CSD) which sets vehicle purchasing limit at ₹12 lakh for officers. </li><li><keyword id="3969981" type="PERSON" weightage="20" keywordseo="General-Bipin-Rawat">General Bipin Rawat</keyword>, attributed the decision to budgetary constraints and step to bring parity among Commissioned Officers, Junior Commissioned Officers (JCOs) and other ranks (ORs). </li><li>The new ceiling has also set the engine limit for officers at 2500 CC and for JCOs and other ranks at 1400 CC. </li></ul>Indian army Junior Commissioned officers and other rank jawans are set to gain from the new policy of the Indian army on the purchase of four wheelers from Canteen Stores Department (CSD). Earlier there was no limit on the purchase of four wheelers from the CSD canteens, but the new rules have set a limit due to which expenditure on cars more than ₹12 lakh, excluding GST is no more permissible for the officers. The new expenditure limit for Junior Commissioned Officers (JCO) and jawans of other ranks ₹6.5 lakh including GST. Speaking at a seminar of retiring officers, on June 27 the Army Chief General Bipin Rawat said that the policy changes are going to bring parity in the opportunities to use the CSD facility to buy four wheelers among officers and not just officers, <a href="https://economictimes.indiatimes.com/news/defence/price-ceiling-on-the-purchase-of-four-wheelers-from-csd-due-to-budgetary-constraint-army-chief/articleshow/69968031.cms">reported the Economic Times</a>. Explaining the reason for the policy changes, General Rawat said that the Parliament sanctions a fixed amount for CSD under miscellaneous heads for buying essential items to be provided to the army personnel including four wheelers, and high value car purchases by officers leaves less opportunities for JCOs and other ranks. The <a href="https://indianarmy.nic.in/Site/FormTemplete/frmTempSimple.aspx?MnId=eE5gXwRZLNFCokYZlobZWw==&amp;ParentID=x9XdWbgX/9flpihdvNGPLw==">Quartermaster General’s branch</a> of the Indian army, which is responsible for planning, provisioning and issue of supplies to the Army, last month, issued an order that placed restrictions on the expenditure and capacity of the cars that can now be purchased from the canteen. The new orders started functioning from June 1. The new policy The new rules Restrictions over capacity of the engines have also been applied. Commissioned officers at most can buy cars with 2500 CC, whereas for JCOs and other ranks the limit is 1400 CC. Junior commissioned officers (JCOs) and jawans, will now be allowed to buy a four wheeler once in service and once after retirement. The time in between purchases is reduced from ten to eight years. This will further benefit non-commissioned officers who have high aspirations to buy four wheelers, <a href="https://economictimes.indiatimes.com/news/defence/price-ceiling-on-the-purchase-of-four-wheelers-from-csd-due-to-budgetary-constraint-army-chief/articleshow/69968031.cms">as per reports</a>. The policy has also made changes in the frequency of the purchases. Officers can now buy two cars in eight years which was four years before the order was issued. “Earlier they could buy any top vehicle model they wanted. Now, they can’t. And the frequency of buying still remains the same for them, except for the gap between two vehicle purchases,” said an official. The official also said that the decision on placing a price ceiling was taken in view of the ‘larger picture’. The government provides 50% GST rebate on all CSD items once price negotiations are complete which provides the army personnel with cash saving benefits. “The chief had also said that if someone has the capability to buy a luxury car, then he can do it from the civil market,” another official said.

Army’s junior officers and jawans gain from new canteen store policy aimed to bring in ‘parity’

The <keyword id="21572647" type="General" weightage="20" keywordseo="Indian-auto-retail-sector" source="keywords">Indian auto retail sector</keyword> recorded a robust 27 per cent year-on-year (YoY) growth for April 2024, according to Federation of Automobile Dealers Associations (<keyword id="20108734" type="General" weightage="20" keywordseo="FADA" source="keywords">FADA</keyword>) <keyword id="21572648" type="General" weightage="20" keywordseo="vehicle-retail-data" source="keywords">Vehicle Retail Data</keyword>. The report highlights positive market sentiments, driven by stable fuel prices, a positive monsoon outlook, festive demand, and the marriage season. According to FADA President Manish Raj Singhania, the <keyword id="19948209" type="General" weightage="20" keywordseo="two-wheeler" source="keywords">two-wheeler</keyword> (2W), three-wheeler (3W), <keyword id="20163833" type="General" weightage="20" keywordseo="passenger-vehicle" source="keywords">passenger vehicle</keyword> (PV), tractor (Trac), and <keyword id="20032571" type="General" weightage="20" keywordseo="commercial-vehicle" source="keywords">commercial vehicle</keyword> (CV) segments witnessed growth. Singhania said, "In April 2024, the Indian <keyword id="21572646" type="General" weightage="20" keywordseo="auto-retail-sector" source="keywords">Auto Retail sector</keyword> achieved a robust 27 per cent YoY growth. The two-wheeler (2W), three-wheeler (3W), passenger vehicle (PV), tractor (Trac) and commercial vehicle (CV) segments grew by 33 per cent, 9 per cent, 16 per cent, 1 per cent, and 2 per cent, respectively. While some attribute this growth to the shift in Navratri to April instead of March last year, the overall increase was significant. Comparing combined March and April 2024 with the same period last year shows a 14 per cent YoY growth for the entire industry." Singhania attributed this growth partly to the shift in Navratri to April from March last year, but noted that the overall increase was significant. When comparing combined March and April 2024 with the same period last year, the industry recorded a 14 per cent YoY growth. In the two-wheeler segment, significant growth was driven by improved supply and increasing demand for 125cc models. Positive market sentiments, supported by stable fuel prices and a favorable monsoon outlook, contributed to this rise. New model launches also played a role in driving growth, despite some delays in supply. The passenger vehicle category experienced double-digit YoY growth, aided by enhanced model availability and positive market sentiments, particularly around festive events like Navratri and Gudi Padwa. Despite strong bookings and customer flow, challenges such as high competition, excess supply, and discounting posed hurdles for sustained growth. Additionally, the lack of new models in some portfolios impacted market traction. The commercial vehicle segment showed a modest 2 per cent YoY growth and a 0.6 per cent month-on-month (MoM) decline, indicating varied market conditions. Positive momentum was found in bulk and corporate deals, as well as school bus demand, although elections dampened sentiment, leading customers to delay expansion plans. Limited finance options and regional challenges, such as water scarcity, further impacted performance. Looking ahead to May 2024, several positive indicators are shaping the near-term outlook. Improved vehicle supply and strategic planning in the two-wheeler segment have led to rising customer bookings and better market sentiment. In the passenger vehicle segment, new model launches and favorable monsoon forecasts are expected to stimulate customer interest. Challenges remain, with election uncertainty affecting market sentiment and financial constraints posing growth hurdles. Extreme temperatures and overcapacity in the commercial vehicle segment could further slow growth. Despite these challenges, the auto industry remains cautiously optimistic, with market opportunities arising from rising customer interest in new models. Monitoring election-related uncertainty and financial constraints will be crucial for navigating the evolving market effectively. (ANI) SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-has-silently-launched-the-pixel-8a-in-india-starting-at-52999/articleshow/109937286.cms" target="_blank">Google has silently launched the Pixel 8a in India starting at ₹52,999</a><a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank">Top-selling cars in India in April 2024 – Tata Punch continues to dominate</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a>

Indian auto retail sector records 27% YoY growth in April: FADA

The halo around the Indian armed forces has gotten so strong in India that people believe anything said in the name of the uniform. That has led to a ‘spate’ of frauds by people posing as ‘armymen’, according to a <a href="https://www.thehindu.com/news/cities/mumbai/crime-branch-asks-public-to-beware-of-army-men-on-olx/article29650980.ece">recent advisory</a> from the Navi Mumbai Police. If you buy and sell products via online classified portals such as OLX and Quikr, you need to be careful while dealing with people claiming to be a part of the Indian Army. In a recent <a href="https://timesofindia.indiatimes.com/city/mumbai/armyman-scams-mumbai-woman-of-rs-52000-third-case-in-2-months/articleshow/73239901.cms">incident</a>, a resident of Ambernath was duped of ₹52,000 by a fraudster posing as an armyman. The victim, Eman Shafiq Katt, wanted to buy a two-wheeler from the accused, Arbaz Khan. The latter claimed that he was in the army and wanted to sell his scooty as he has been transferred. Once the victim transferred the money into his account, the accused stopped taking her phone calls. Reports of similar scams have emerged from <a href="https://timesofindia.indiatimes.com/city/pune/pune-fake-armyman-dupes-interior-designer/articleshow/73102160.cms">Pune</a>, <a href="https://economictimes.indiatimes.com/news/politics-and-nation/swindlers-pose-as-army-men-online-dupe-people/articleshow/67879800.cms">Bengaluru</a>, <a href="https://www.newindianexpress.com/nation/2019/oct/30/two-army-men-dupe-cisf-jawan-of-rs-57000-in-online-fraud-2054822.html">Nagpur</a>, <a href="https://www.hindustantimes.com/cities/men-pose-as-army-bsf-personnel-to-cheat-people-on-olx-in-chandigarh/story-zWs2Oit3b1oE9BNx6TdfOJ.html">Chandigarh</a> and <a href="https://www.hindustantimes.com/chandigarh/ludhiana-man-loses-1-3l-to-olx-fraud/story-xKgCucjj9cRGpxfEEEL4EP.html">Ludhiana</a>. How to protect yourself from ‘armyman’ frauds Do not trust someone because they show an army ID card One of the things that is common in these types of frauds is that the person shares an army ID card and asks you to trust them as they are in the army. Do not fall for such tactics and avoid trusting someone based on an ID card that could have been forged very easily. Avoid making advance payments If you are buying a product, do not make advance payments and instead, ask the seller to take the payment upon delivery of the product. Meet at a public place Whether you are the seller or the buyer, always insist on meeting at a public place to complete the transaction. Be careful while accepting payments There have been instances where fraudsters use <a href="https://www.businessinsider.in/tech/apps/news/scammers-whatsapp-stealing-money-how-to-protect/articleshow/72976604.cms">QR codes</a> to scam people online. When receiving money, do not scan any QR code and be careful while clicking on links. Do not provide any OTP to the sender as they might use this to steal money from you. See also: <a href="https://www.businessinsider.in/tech/apps/news/scammers-whatsapp-stealing-money-how-to-protect/articleshow/72976604.cms">Scammers are now using WhatsApp to steal money - here’s how you can protect yourself</a> <a href="https://www.businessinsider.in/miscellaneous/the-11-most-sophisticated-online-scams-right-now-that-the-average-person-falls-for/slidelist/68568461.cms">The 11 Most Sophisticated Online Scams Right Now That The Average Person Falls For</a>

A new kind of financial fraud is using the Indian army as decoy

New Delhi [India], November 13 (ANI): <keyword id="178886" type="General" weightage="20" keywordseo="indian-manufacturing" source="Orion">Indian manufacturing</keyword> has accelerated through the second quarter of 2023-24 and is likely to continue for the subsequent quarters of the financial year 2023-24, notwithstanding the slowdown in developed nations, industry body <keyword id="19481819" type="General" weightage="20" keywordseo="ficcis-latest-quarterly" source="Orion">FICCI's latest quarterly</keyword> survey revealed. The industry body's latest quarterly survey assessed the performance and sentiments of manufacturers for the July-September 2023-24 quarter for ten major sectors -- automotive and auto components, capital goods and construction equipment, cement, chemicals fertilizers and pharmaceuticals, electronics and white goods, machine tools, metal and metal products, textiles, apparels and technical textiles, paper, and miscellaneous. It sought responses from over 380 manufacturing units from both the large and SME segments with a combined annual turnover of over Rs 4.88 lakh crores. The existing average capacity utilization in the Indian manufacturing sector is around 74 per cent, slightly higher than the 73 per cent recorded during the previous quarters. The future <keyword id="628648" type="General" weightage="20" keywordseo="investment-outlook" source="Orion">investment outlook</keyword> has also improved as compared to the previous quarter as over 57 per cent of respondents reported plans for investments and expansions in the coming six months. This is also a slight improvement over the previous survey. In terms of major constraints, demand is a limiting factor to realise the true potential of the manufacturing sector in India, with over 40 per cent of respondents highlighting this as a significant constraint. "Whether it is domestic demand or exports, this remains a major limiting factor. Some other constraints, though not major ones are high raw material prices, increased cost of finance, logistics, and other supply chain disruptions are some of the major constraints which are affecting expansion plans of the respondents," finds the FICCI survey. The table below gives the average capacity utilization for various sub-sectors of manufacturing: On the export front, performance seems to be better than in previous quarters as over 48 per cent of the respondents reported higher exports in July-September 2023-24 as compared to 33 per cent in Q1 2023-24. "However, further improvement in export demand is required in the light of the country's growth aspiration," FICCI said. Further, the hiring outlook, according to the survey, looks stable with around 38 per cent of the respondents looking at hiring additional workforce in the next three months. "Most sectors have sufficient labour force engaged in their operations and are not facing a shortage of labour at factories. While 82 per cent of our respondents mentioned that they do not have any issues with workforce availability, the remaining 18 per cent feel that there is still a lack of skilled workforce available in their sector," FICCI noted. (ANI)

Indian manufacturing sector growth expected to continue: FICCI survey

Bengaluru, April 1 (IANS) Public sector Hindustan Aeronautics Limited (<keyword id="68124" type="General" weightage="100" keywordseo="hal" source="Orion">HAL</keyword>) has reported its highest ever revenue of over Rs 24,000 crore (provisional and unaudited) for the financial year ending on March 31. Compared to the previous year's revenues of Rs 22,755 crore, the company has registered a 6 per cent revenue growth. "Despite the challenges of the second wave of Covid-19 during the first quarter of the year and the consequent production loss, the Company could meet the targeted revenue growth with improved performance during the balance period of the year," said R. Madhavan, CMD, HAL. The second wave of Covid-19 had compelled the company to declare a phased lockdown at various divisions during April and May 2021. The employees had put in additional hours in June and July 2021 to compensate for the loss of man hours due to the lockdown. Further, based on the improved financial performance and cash flow position, the <keyword id="13520461" type="General" weightage="50" keywordseo="credit-rating-agencies-care-ratings" source="Orion">Credit Rating Agencies CARE Ratings</keyword> and <keyword id="1990286" type="General" weightage="50" keywordseo="icra-limited" source="Orion">ICRA Limited</keyword> have upgraded the Company's credit rating from AA+ Stable to AAA/Stable during the financial year. HAL achieved record revenues through production of 44 new helicopters/aircraft, 84 new engines, overhauling 203 aircraft / helicopters and 478 engines, a statement from HAL noted. Recently, HAL has bagged a contract for production of 15 Light Combat Helicopters (<keyword id="157962" type="General" weightage="50" keywordseo="lch" source="Orion">LCH</keyword>), 10 for <keyword id="6355075" type="General" weightage="50" keywordseo="iaf" source="Orion">IAF</keyword> and five for the <keyword id="6354416" type="General" weightage="50" keywordseo="indian-army" source="Orion">Indian Army</keyword> at a cost of Rs 3,887 crore along with Infrastructure sanctions worth Rs 377 crore. Considering the improved financial performance during the financial year, HAL paid an interim dividend of Rs 40 per share representing 400 per cent on the face value of Rs 10 per share during FY 2021-22. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/list-of-bank-holidays-in-april-2022-month/articleshow/90586419.cms">Here is a list of bank holidays in April 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/after-byjus-and-unacademy-vedantu-is-looking-at-offline-centers/articleshow/90584769.cms">Exclusive: After Byju’s and Unacademy, Vedantu is looking to start offline centres</a>

HAL records its highest ever revenue of ₹24,000 crore in FY 2021-22

<ul class="summary-list"><li><keyword id="11892748" type="UNKNOWN" weightage="60" keywordseo="china" source="Orion">China</keyword>'s military expansion and improvement have worried its neighbors and countries around the world.</li></ul>The <keyword id="12402306" type="UNKNOWN" weightage="60" keywordseo="chinese-military" source="Orion">Chinese military</keyword>'s increasing size and improving capabilities have worried military leaders and policymakers in the US and around the world.China's <keyword id="12866680" type="UNKNOWN" weightage="60" keywordseo="peoples-liberation-army" source="Orion">People's Liberation Army</keyword> is the largest active-duty military in the world. It fields the world's largest navy and its air force and navy together have <a href="https://www.businessinsider.com/china-air-force-navy-combat-aircraft-catching-up-to-west-2021-12" target="_blank" rel="noopener">the world's third-largest aviation force</a>. It <a href="https://media.defense.gov/2021/Nov/03/2002885874/-1/-1/0/2021-CMPR-FINAL.PDF" target="_top">continues</a> to build <a href="https://s3.documentcloud.org/documents/21398820/rl33153china-naval-modernization-implications-for-us-navy-capabilities-background-and-issues-for-congress-march-8-2022.pdf" target="_top">warships</a>, expand its fighter aircraft fleet, and <a href="https://www.businessinsider.com/new-pentagon-maps-show-chinas-increasing-military-power-and-reach-2020-9" target="_blank" rel="noopener">develop long-range missiles</a>.For all that new and impressive firepower, the PLA remains untested in large-scale military operations, which means it may struggle in a prolonged conflict, according to <keyword id="13498791" type="UNKNOWN" weightage="60" keywordseo="harry-harris" source="Orion">Harry Harris</keyword>, a retired US Navy admiral who led <keyword id="13498792" type="UNKNOWN" weightage="60" keywordseo="us-indo-pacific-command" source="Orion">US Indo-Pacific Command</keyword> from 2015 to 2018.Speaking at the <a href="https://www.youtube.com/watch?v=gdUM0ujOFbI" target="_top">WEST conference</a> in San Diego in February, Harris contrasted the Chinese military's experience with that of the US military, which has fought campaigns of varying intensity for much of the past 20 years."They're not tested, for one thing," Harris said when asked to compare the PLA's ground forces to those of the US military.<div type="image" title="Navy admiral Harry Harris" height="1050" width="1400" msid="90529197" hostid="261"></div>Harris, who was also US ambassador to South Korea from 2018 to 2021, added that while PLA forces <a href="https://www.businessinsider.com/india-china-border-clashes-could-cause-more-indian-ocean-activity-2020-7" target="_blank" rel="noopener">have skirmished with Indian troops</a> along their disputed border, Chinese troops have not been "tested writ large like US ground forces and the Marine Corps."While China's military is <a href="https://www.businessinsider.com/us-china-developing-new-aerial-refueling-tankers-to-extend-range-2021-12" target="_blank" rel="noopener">investing in logistical capabilities</a> and expanding its <a href="https://www.businessinsider.com/the-us-is-wary-of-chinas-military-plans-in-africa-2021-5" target="_blank" rel="noopener">overseas presence</a>, Harris said the PLA's ability to move its forces "to the point of need is severely limited."The US's withdrawal from Afghanistan was a "debacle," but the US's <a href="https://www.businessinsider.com/us-air-force-planes-crews-recovering-after-afghanistan-evacuation-2021-10" target="_blank" rel="noopener">evacuation of 120,000 people</a> from that country in just a few weeks with no notice is something China likely wouldn't be able to do, Harris said."I don't see that PRC as having that capability to deliver those ground forces anywhere in the world at the level that America can," Harris said.If they had to fight on the Chinese mainland, PLA ground forces "would probably do well," but they would likely be at "a disadvantage" if they faced sustained combat against the US or its allies in a different part of the world, Harris added.China's military services also lack experience fighting together, while the US military's service branches have been refining their joint operational ability for decades.US troops are "going to be enabled by the joint force," Harris said. "I don't see that joint architecture robustly in existence in the [Chinese] military."<h2>'Peacetime disease'</h2><div type="image" title="US China soldier training" height="1451" width="1934" msid="90529199" hostid="261"></div>China fought its last major war in 1979, when it <a href="https://www.businessinsider.com/what-china-war-with-vietnam-means-for-its-next-war-2021-3" target="_top">invaded</a> northern Vietnam. That conflict lasted only a few weeks — though skirmishes dragged on for years — but China's performance is widely regarded as poor.Estimates of Beijing's losses range from 7,900 to 26,000 soldiers killed and 23,000 to 37,000 wounded. China's air force and navy also had no role in combat operations during the short war.According to the US Defense Department's most recent report on the Chinese military, leaders in the Chinese Communist Party and in the PLA "are keenly aware that the military has not experienced combat in decades nor fought with its current suite of capabilities and organizational structures."That knowledge has led military leaders and state media to make frequent calls for the PLA to remedy the "peacetime disease," which is characterized as "lax training attitudes and practices that are viewed as hindering combat readiness," according to the Pentagon report.The PLA has tried to bolster its experience with more <a href="https://www.businessinsider.com/chinas-military-does-more-drills-testing-ability-to-seize-islands-2021-9" target="_top">exercises</a> focusing on combined-arms operations and by <a href="https://chinapower.csis.org/china-military-diplomacy/" target="_top">sending</a> its warships on port calls and senior-level visits abroad.The PLA also <a href="https://mwi.usma.edu/beijings-blue-helmets-what-to-make-of-chinas-role-in-un-peacekeeping-in-africa/" target="_top">plays a large role in UN peacekeeping missions</a>, to which it currently contributes 2,235 troops, making it the ninth-largest participant. Beijing's personnel and financial commitment to those missions give its forces practical experience and burnish its <keyword id="6356001" type="UNKNOWN" weightage="60" keywordseo="international" source="Orion">international</keyword> influence.China's efforts <a href="https://www.businessinsider.com/china-military-leaders-lack-combat-experience-drags-on-modernization-2020-11" target="_blank" rel="noopener">to close the experience gap</a> may be undercut by its breakneck military modernization. New, sophisticated military hardware continues to arrive, but personnel trained to operate it take longer to acquire — a problem especially <a href="https://www.scmp.com/news/china/military/article/3116402/china-speeds-building-aircraft-carriers-will-pla-sailors-be?module=perpetual_scroll_0&amp;pgtype=article&amp;campaign=3116402" target="_top">relevant for China's navy</a>.

China's military is growing rapidly, but it hasn't been 'tested' like US troops have, former top US admiral says

New Delhi, Jun 4 () Tata Consumer Products expects its profitability to be impacted in the short term due to the coronavirus outbreak as input costs have risen on account of commodity price volatility and supply constraints during the pandemic and subsequent lockdown. However, the company said it was difficult to access the quantum at this stage. Though the sales of the company is getting back to normal levels, the health crisis has imposed incremental operating costs on the business, said Tata Consumer Products Ltd (TCPL) in a regulatory filing. "While there will be some impact on our profitability in the short term... it is difficult to assess the exact quantum at this stage," said TCPL. The Tata group company, which owns popular brands like Tata Salt, Tata Tea, Tetley, Eight O' clock and Himalayan Water, however, said it is in a "comfortable liquidity position" to meet its commitments. The company has taken adequate measures to "control costs, to conserve cash and to address any evolving situation" resulting from the pandemic, it said adding that all internal tabs and controls over financial reporting are in a "satisfactory" manner. On the estimation of future impact of COVID 19 on its operations, TCPL said "Considering the fact that the situation is exceptional and is changing dynamically, the company is not in a position to gauge with certainty how the evolving situation will influence its operations going forward." Based on the current trends, the current scenario is not expected to have a material adverse impact on the company, it added. "The out-of-home business segments, in general, have been impacted due to the lockdown conditions. However, this business segment is not materially significant within the overall business portfolio of the company," said TCPL As far as JV Tata Starbucks is concerned, TCPL said it is now able to open about its 40 per cent outlets for the delivery and takeaway business. The company also expects some crop shortfall in its plantations side, as all tea and coffee plantations in India were also shut till early April. "While they opened early April with limited manpower and operations, barring a few geographies today, they are now currently operating almost to full capacity. There has been some crop shortfall during this period due to the curtailment of operations," it said On the impact of the pandemic on its Indian operations, TCPL said that though it witnessed disruptions starting from the middle of March and the operations started resuming partially since early April, after receiving requisite government permissions. "In the initial period, we saw a mixed response across channels – good sales off-take in modern trade and e-commerce, which to some extent was reflective of panic buying, whereas sales in traditional channels and food service were adversely impacted primarily because of closure of stores and issues with sales manpower and logistics," it said. The situation has, however, progressively improved with easing of lockdown measures including higher market openings and facilitation measures for the supply chain. Sharing the details of its international operations, TCPL said its factories have been running flat out. "We saw higher demand, with significant increase in in-home consumption due to stocking with offices, bars and restaurants closed during the lockdowns. A shift to more normal consumptions levels is beginning in certain markets," it said adding that tea and coffee sales to retail customers have increased due to higher in-home consumption. However, its out-of-home businesses in the US and Australia have seen a sharp decline. After merging the consumer products business of Tata Chemicals with Tata Global Beverages, the company was renamed TCPL. KRH RKL ANS ANS

Tata Consumer expects COVID-19 impact on profitability; hit by commodity price, supply constraints

Soldiers from armies worldwide are provided ultra-light helmets made of high-tenacity composite and polyethylene materials, some of which also integrate video cameras, thermal, chemical and biological sensors, along with visors which act as "heads-up computerized display monitors" in front of the eyes. On the other hand, soldiers of <keyword id="6354416" type="ORGANIZATION" weightage="100" keywordseo="Indian-Army">Indian Army</keyword>, belonging to the world’s fastest growing economy, are struggling to get some basic protection gear for decades. 
 
This wait for light and better helmets could finally be over for the Indian Army, since as per a <a href="http://timesofindia.indiatimes.com/Deal-worth-Rs-170-cr-for-better-lighter-Army-helmets-to-be-inked/articleshow/54023127.cms">TOI </a>report, a contract for 1,58,279 light-weight ballistic helmets is on the verge of completion. The deal is said to be worth around Rs 170 crore. 
 
"The deal would have been inked much earlier after the CNC (contract negotiation committee) was completed. But there has been a complaint, as also some financial queries...these are now being addressed," said a source. 
 
Earlier in March, a Rs 140 crore contract for "emergency" procurement of 50,000 from Tata Advanced Materials Limited was inked after waiting for more than 10 years. 
 The helmets, procured from an Indian manufacturer <keyword id="57367" type="ORGANIZATION" weightage="100" keywordseo="MKU">MKU</keyword>, will be equipped with 13mm trauma protection pads, while those for "commanders" will come with integrated communication headsets. 
 
The present lot of helmets that the army has are not only too heavy, but also do not protect soldiers from anything but splinters and rocks. 
 
<a href="http://i.dailymail.co.uk/i/pix/2012/04/10/article-2127513-12874855000005DC-244_634x463.jpg">Image source</a>

Indian soldiers could finally get better, lighter helmets after two decades of wait

New Delhi, Jul 3 () Wondering why the central bank should be answerable to a court on the basic principles of financial sector, eminent banker Deepak Parekh has said the saga of the Supreme Court questioning the RBI on loan moratorium was "indeed unfortunate". The Chairman of mortgage giant HDFC Ltd, in his annual letter to shareholders, also suggested a one-time restructuring of real estate loans, easing of external commercial borrowing rules and immediate changes in regulations to allow end-to-end execution of housing loans online. "The saga of the highest court of law questioning the RBI on the moratorium was indeed unfortunate. Why should a central bank have to be answerable to a court on basic principles which the financial sector operates on?" he observed. The industry veteran said interest payments on borrowings and loans are contractual obligations and when no laws are being violated then all efforts at this juncture must be channelled towards economic recovery rather than getting into legal wrangles. "These issues must be resolved smoothly and I remain hopeful that the authorities will find solutions to safeguard its stakeholders," he said. Last month, the Supreme Court said there is "no merit in charging interest on interest" for deferred loan payment installments during the moratorium period announced in the wake of the coronavirus pandemic. Once moratorium is fixed then it should serve the desired purposes and the government should consider interfering in the matter as it cannot leave everything to banks, the court had observed. The RBI's March 27 circular announcing moratorium was later modified on April 17 and May 23 by which the moratorium period was extended by another three months that is from June 1 to August 31, 2020 on payment of all installments in respect of term loans (including agricultural term loans and retail and crop loans). In the letter, Parekh lauded the RBI for shouldering a huge burden to maintain financial stability and also stressed the need for a realignment of ready reckoner rates as well. He said the global economy has never before simultaneously seen demand and supply evaporate and the pandemic has revealed the fragility of health systems and the lack of social safety nets the world over. At the same time, the lockdown has reinforced the value of the essentials of life -- food, clothing, shelter and now, the internet. "There can be no better security in life than a home... HDFC is in the right business and we have done business the right way. There may be lags in terms of healing time, but we remain confident that the inherent demand for housing is intact," he said. According to Parekh, FY20 has seen HDFC deliver a good performance, but by no means it was an easy year. Risk averseness in lending heightened, further choking credit where it was needed the most... We had our share of disappointments too. "These pertained to certain long-standing relationships we thought we were confident about. When hardships fell upon them, the legal system overrode our recovery efforts," he said. He said the recovery efforts will continue unabated. "In the most trying times, recent resolutions in our favour have been encouraging, sparking hope of a changing tide". Parekh further said a scenario is emerging where there may be inorganic opportunities for HDFC group companies and some of its subsidiary companies will need additional capital for their expansion plans. "We have also identified new investment opportunities that will help build the next generation of value creators for HDFC. To support this, we are putting in place a roadmap for our future capital requirements," he said. Parekh said woes of the Indian economy predate the pandemic and pressed for solutions that do not impinge on the limited resources of the government given the immense constraints on fiscal finances. He said the government has rightly recognised the benefits of encouraging housing, given the construction sector being the second largest employment generator and having multiplier effects through its extensive backward and forward linkages with other industries. "A few policy changes will go a long way in supporting housing and housing finance going forward," he said, while suggesting steps to liberalise external commercial borrowings and also a one-time restructuring for real estate loans. If developers do not have cash flows due to a slowdown in sales or delay in receiving requisite building approvals, they can neither complete the existing projects nor can they service their loans, he said. Even if a lender is willing to help the project stay viable, any modification in the terms of the loan, including additional funding is construed to be a non-performing loan under the current regulatory norms. "Allowing for a restructuring of these loans and categorising them as standard assets will facilitate last mile funding for these projects," he said. Parekh also favoured changes in regulations so as to facilitate end-to-end execution of mortgages online. "Currently, loans are being approved online, but disbursements cannot happen as e-signatures on mortgage documents or agreements pertaining to immovable properties are excluded from the purview of the Information Technology Act, 2000. "With the immense thrust on technology in the financial sector, this amendment can easily be facilitated through an ordinance," he said. BJ RAM

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