The World Opinion

Category: Economy

  • Read The Inspiring Journey Of Mira Kulkarni From Single Mother To Becoming One Of India’s Richest Women | Companies News

    New Delhi: Meet Mira Kulkarni, a woman whose journey is a testament to resilience and strength in the face of adversity. At a young age her marriage came to an end which left her to shoulder the responsibilities of raising two children on her own. Despite the challenges she faced as a single mother, Mira refused to be defined by her circumstances. Instead, she embraced her role with unwavering determination, turning every obstacle into an opportunity for growth.

    Faced struggle in marriage

    Mira’s story of strength started during tough times. She got married at the age of 20 but had to go through a lot of problems as her husband’s business started to struggle and alcoholism followed. Despite these hurdles, Mira wanted a better life for herself and her two children. (Also Read: The 127-Year-Old Godrej Empire Split: How It Was Resolved Amicably)

    So, she made a brave choice to leave her husband and move in with her parents. But, unfortunately tragedy hit her life again and she lost both her parents by the time she was just 28 years old. After this she had to take care of her kids all on her own. Mira stayed strong and kept moving forward, determined to create a brighter future for herself and her family. (Also Read: Google Layoffs: Workers Lodge Complaint Alleging Unfair Firing Of Employees)

    Discovered interest in making candles

    When Mira turned 45 and her daughter was grown up and married, she discovered a new interest in making candles and handmade soaps. This hobby gave her a sense of peace and meaning. It also inspired her to venture into her entrepreneurial journey. So, in the year 2000 she took the first steps to create Forest Essentials.

    Began business journey with just Rs 2 lakhs

    Mira began her business journey with only Rs 2 lakhs and two employees. Starting in a small garage she turned the modest beginnings into a successful enterprise. She got inspired by Ayurveda and carefully sourced natural ingredients from the Tehri Garhwal region which gave her products the essence of nature’s gifts.

    Company grew into a multi-crore business

    With time the company grew into a multi-crore business and expanded its presence to 28 cities across India. In 2008, Forest Essentials partnered with Estee Lauder Companies marking a significant milestone that saw Estee Lauder acquiring a small stake in the business. The prestigious hotel chains like Hyatt, Taj, and many others are proudly associated with this iconic brand.

    Most Powerful Women in Business for India

    Mira’s remarkable accomplishments have earned her widespread recognition, including being named as “Most Powerful Women in Business for India” by fortune magazine for several years. She is also acknowledged as one of India’s wealthiest women with an net worth of Rs 1,290 crores as per the 2020 edition of Kotak Wealth Hurun.

  • Watch: First Look oF Vande Bharat Metro Train Revealed, Trial Run To Start From July

    Trial runs for Vande Bharat Metro trains are scheduled to commence in July, paving the way for eventual deployment across 124 cities

  • 19 Kg Commercial LPG Cylinder Rates Slashed By Rs 19 From Today May 1, Check How Much You Need To Pay Now | Economy News

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  • Beyond Fame, Meet Mukesh and Anil Ambani’s Lesser Known Sisters Who Have Achieved Success In Their Own Ways | Companies News

    New Delhi: Mukesh Ambani and Anil Ambani’s family are renowned and fascinating personalities in the business world. As we all know, Mukesh Ambani is the Chairman and Managing Director of Reliance Industries. Moreover, he is the richest person in Asia. Mukesh Ambani’s businessman brother Anil Ambani also grabs the headlines. 

    Beyond the spotlight of the Ambani’s family, let’s take a glimpse into the lives of his lesser-known sisters-Nina Kothari and Dipti Salgaoncar. Both are remarkable women who have carved their paths away from the public eye.

    Mukesh Ambani’s sisters Nina Kothari and Dipti Salgaoncar are often seen in the lucrative functions of the Ambani Family. Both the sisters were spotted at Anant Ambani and Radhika Merchant’s pre-wedding celebrations recently in Jamnagar. 

    Notably, the Reliance Industries’ Founder late Dhirubhai Ambani and his wife Kokilaben Ambani have given b to four children- Mukesh, Anil, Nina, and Dipti. 

    Deepti Salgaoncar: 

    Deepti Salgaoncar is the youngest child of the late Dhirubhai Ambani and his wife Kokilaben Ambani. She married her husband Dattaraj Salgaocar after their courtship of five years on December 31, 1983. 

    Dattaraj Salgaocar, who is a childhood friend of Mukesh and Anil Ambani, has a son named Vikram Salgocar and a daughter named Isheta Salgaocar with his wife Deepti Salgaoncar. 

    Both husband and wife run their non-profit arts initiative Sunaparanta Goa Center for the Arts. This centre provides working and exhibition space, and assistance and grants to artists. She is also the Vice President of Corporate Communication at V. M. Salgaocar & Bro. 

    To recall, Deepti was born on January 23, 1962. She studied law at VM Salgaocar College of Law and currently lives in Goa. (Also Read: Success Story: Meet Mukesh Ambani’s Close Relative Who Worked With BCCI Long Before Ambani Founded the Mumbai Indians In IPL)

    Nina Kothari: 

    Nina Kothari is the eldest child of the late Dhirubhai Ambani and his wife Kokilaben Ambani. She is a businesswoman in her own rights. Nina married to a businessman Bhadrashyam Kothar in 1986. After the unfortunate demise of his husband in 2015 because of cancer, she took over their business as the Chairperson of Kothari Sugars and Chemicals Limited.  

    She has business acumen and showed her entrepreneurial skills in 2003. She started a new venture known as Javagreen- a coffee chain that served refreshments, sandwiches, and more. However, the company was shut down later.

    Over the years, she has grown Kothari Group and added two more companies: Kothari Petrochemicals and Kothari Safe Deposits Limited. (Also Read: Success Story: Meet Man Behind India’s Largest Luggage Manufacturing Brand, Linked to Isha Ambani’s Family! ; Check Net Worth)

    Man Behind Entrepreneurial Mindset:

    Behind this entrepreneurial mindset within his family, the late Dhirubhai Ambani helped his family think like successful business people. In 1996, Dhirubhai Ambani suffered a stroke after which he handed over his company, Reliance Industries Limited, to his two sons-Mukesh and Anil Ambani. 

  • After Hong Kong And Singapore, Now Australia To Recall MDH And Everest Masala?

    Recently Singapore and Hong Kong suspended the sale of MDH and Everest Masala powders, for its alleged usage of Ethylene Oxide pesticides in their spice mix.

  • Success Story: Meet Mukesh Ambani’s Close Relative Who Worked With BCCI Long Before Ambani Founded the Mumbai Indians In IPL | Companies News

    New Delhi: As we all know Ambani’s love for cricket is well known, especially with Nita M Ambani as the owner of the Mumbai Indians in the IPL. But, you will be surprised to know that even before the Ambanis stepped into the realm of sports and established the Mumbai Indians in 2008, a member of their close family had been making waves in the cricketing world. 

    Yes, You heard it right!, that fascinating figure is none other than Dattaraj Salgaocar, the brother-in-law of India’s wealthiest person, Mukesh Ambani, who has had significant involvement with the Board of Control for Cricket (BCCI) in India. Mukesh Ambani has a net worth of Rs 972747 crore. 

    Member Of BCCI And President Of Goa Cricket Association:

    Dattaraj Salgaocar, also known as Raj Salgaocar, holds the position of Chairman at V.M Salgaocar Corporation Private Limited. He is married to Mukesh Ambani’s youngest sister and the youngest daughter of the late Dhirubhai Ambani–Dipti Salgaocar. Apart from running the family business, Salgaocar also has keen interests in sports, wildlife conservation and photography. (Also Read: From Sweets to Seats: Meet Man Whose Father Took A Loan Of Rs 500; Now He Owns India’s Largest Private University)

    During the period from 1994 to 1997, he was the President of the Goa Cricket Association (GCA) and a member of the Board of Control for Cricket in India (BCCI). He also established Salgaocar Cricket Club in Goa in 1974 under his family business V.M Salgaocar Corporation Private Limited.

    Virat Kohli Announced As Co-owner of FC Goa:

    Dattaraj Salgaocar’s interest was not limited to cricket only. He was also the co-founder of the Indian Super League’s (ISL) Goan franchise called FC Goa. This club was nicknamed Gaurs in 2014. Moreover, former RCB skipper Virat Kohli was announced as one of the co-owner of FC Goa. In 2016, he stepped down from the FC Goa’s ownership.

    According to reports, Salgaocar is making a comeback by forming a new club that will make its debut in the Goa Pro League next season 2024-25. (Also Read: Success Story: Meet Man Behind India’s Largest Luggage Manufacturing Brand, Linked to Isha Ambani’s Family! ; Check Net Worth)

    Mukesh Ambani’s Close Relative Academic Career:

    Dattaraj Salgaocar has a degree n production engineering from VJTI, Bombay University. Moreover,  he did MBA in Finance from Wharton Business School. Salgaocar was honored as a Wadia scholar during his college years and later as a Tata scholar for his postgraduate studies. 

  • RBI Tells Banks To Stop Charging Extra Interest On Loans As Probe Shows Unfair Practices | Markets News

    Mumbai: The Reserve Bank of India (RBI) on Monday directed banks and NBFCs to immediately review their practices to ensure that they are fair and transparent in the interest they charge customers as several instances have been detected where excessive interest has been charged on loans.

    The RBI has pointed out in its circular that during the course of an onsite examination of regulated entities (banks, NBFCs and housing finance companies) for the period ended March 31, 2023, it came across instances of lenders resorting to certain unfair practices in charging interest.

    “Therefore, in the interest of fairness and transparency, all regulated entities are directed to review their practices regarding mode of disbursal of loans, application of interest and other charges and take corrective action, including system level changes, as may be necessary, to address the issues highlighted above,” the RBI circular states. (Also Read: Markets Rebound Sharply On Buying In Bank Stocks Firm Global Trends)

    Some of the unfair practices that the RBI has observed are:

    -Charging of interest from the date of sanction of loan or date of execution of loan agreement and not from the date of actual disbursement of the funds to the customer. Similarly, in the case of loans being disbursed by cheque, instances were observed where interest was charged from the date of the cheque whereas the cheque was handed over to the customer several days later.

    -In the case of disbursal or repayment of loans during the month, some banks were charging interest for the entire month, rather than charging interest only for the period for which the loan was outstanding.

    -In some cases, it was observed that banks were collecting one or more installments in advance but reckoning the full loan amount for charging interest.

    The RBI said these and other such non-standard practices of charging interest which are not in consonance with the spirit of fairness and transparency while dealing with customers, is a cause for “serious concern”. (Also Read: https://zeenews.india.com/companies/from-sweets-to-seats-meet-man-whose-father-took-a-loan-of-rs-500-now-he-owns-indias-largest-private-university-2744831.html)

    Wherever such practices have come to light, the RBI through its supervisory teams has advised banks, NBFCs and housing finance companies to refund such excess interest and other charges to customers, the central bank said.

    The lenders are also being encouraged to use online account transfers in lieu of cheques being issued in a few cases for loan disbursal, the RBI said.

  • Breaking: Local Train Derails At Chhatrapati Shivaji Terminus; Harbour Line Services Affected

    The Harbour Line services of the Central Railway were severely affected after the coach of a local train derailed at the Chhatrapati Shivaji Maharaj Terminus (CSMT)
     

  • Mercedes-Benz G 580 EV Unveiled Globally; Check Features, Powertrain And Other Details | Auto News

    Mercedes-Benz has recently unveiled the highly anticipated all-electric G-Class globally.  This electric SUV is officially known as the new G 580 with EQ Technology. Read here to know all about this premium electric vehicle.

    Mercedes-Benz G 580 EV Design

    Mercedes-Benz G 580 EV retains the iconic boxy design of its internal combustion engine counterpart, with minor cosmetic updates to distinguish it as an electric model. The exterior features body-coloured headlamp surrounds, a closed-off grille with a four-slat design (optional illuminated EQ-style grille available), new cladding on the A-pillar for improved aerodynamics, rear wheel arch air curtains, and a roof-mounted spoiler. The cabin remains unchanged from the petrol and diesel G-Class and it offers a luxurious interior with twin 12.3-inch digital displays, an updated voice assistant, and optional rear-seat entertainment and premium sound system packages.

    Powertrain and Performance

    Under the hood, the Mercedes-Benz G 580 EV boasts a quad-motor all-wheel-drive electric drivetrain, with individual motors powering each wheel. This setup delivers an impressive 579 bhp and 1,164 Nm of torque, drawing power from a 116 kWh under-floor battery pack. Mercedes claims a range of up to 473 km on a single charge and accelerates from 0 to 100 kmph in just 4.7 seconds, with a top speed limited to 180 kmph. The vehicle supports fast charging up to 200 kW DC, enabling a 10 to 80 per cent charge in about 32 minutes, and AC charging up to 11 kW.

    Off-Road Capabilities

    Despite its electric powertrain, the G 580 retains its legendary off-road capabilities. It features a torque vectoring system that mimics the performance of locking differentials in the internal combustion models. The SUV also offers a ‘low range’ option for extreme off-road situations, activated in the ‘Rock’ off-road drive mode. Notably, the G 580 introduces the G-Turn feature, allowing for 360-degree tank turns on the spot, and G-Steering for improved maneuverability at low speeds.

    Safety and Durability

    To ensure durability during off-road adventures, the G 580 EV includes a 26 mm thick, 57.6 kg skid plate protecting vital components and an 850 mm fording depth. Approach and departure angles are 32 and 30.7 degrees, respectively, with a side slope capability of up to 35 degrees.

    Launch and Availability

    The all-electric Mercedes-Benz G 580 is set to launch in global markets later this year, with plans for an eventual release in India. This model represents a significant leap in electric SUV technology, combining the iconic G-Class design with cutting-edge electric powertrain and off-road capabilities, making it a compelling option for enthusiasts and eco-conscious drivers alike.

  • Government Permits Export Of 99,150 Metric Tonnes Of Onions To 6 Countries | Economy News

    New Delhi: The government has allowed the export of 99,150 metric tonnes of onion to six countries — Bangladesh, UAE, Bhutan, Bahrain, Mauritius and Sri Lanka, the Ministry of Consumer Affairs said on Saturday.

    A ban has been imposed on onion export to ensure adequate domestic availability and keep prices in check as the output of both the Kharif and Rabi crops in 2023-24 are estimated to be lower as compared to the previous year and demand has increased in the international market. (Also Read: Meet Jayaram Banan Who Started His Journey From Dishwasher And Now Owns Company Valued At Rs 300 Crore)

    The National Cooperative Exports Limited (NCEL), the agency for export of onion to these countries, sourced the domestic onions to be exported through e-platform at L1 prices and supplied to the agencies nominated by the government of the destination country at the negotiated rate on 100 per cent advance payment basis, according to the Food Ministry statement. (Also Read: MDH Dismisses Pesticides Allegations From Food Regulators, Assures Product Safety)

    The offer rate of NCEL to the buyers takes into account the prevailing prices in the destination market and also international and domestic markets. The quotas allocated for export to the six countries are being supplied as per the requisition made.

    As the largest producer of onion in the country, Maharashtra is the major supplier of onions sourced by NCEL for export. The government had also allowed the export of 2,000 metric tonnes (MT) of white onion cultivated especially for export markets in Middle-East and some European countries.

    Being purely export-oriented, the production cost of the white onion is higher than other onions due to higher seed cost, adoption of good agricultural practice (GAP) and compliance to strict maximum residue limits (MRL) requirements.

    The procurement target for onion buffer out of Rabi-2024 under the Price Stabilisation Fund (PSF) of the Department of Consumer Affairs has been fixed at 5 lakh tonnes this year. The Central Agencies, viz., NCCF and NAFED are tying up local agencies such as FPOs/FPCs/PACs to support the procurement, storage and farmers registration to begin the procurement of any store-worthy onion.

    A high-level team of the Department of Consumer Affairs, NCCF and NAFED had visited Nashik and Ahmednagar Districts of Maharashtra during April 11-13, 2024 to create awareness among the farmers, FPOs/FPCs and PACs about the procurement of 5 LMT of onion for PSF buffer.

    In order to reduce the storage loss of onions, the Department of Consumer Affairs decided to enhance the quantum of stocks to be irradiated and cold stored from 1,200 MT last year to over 5,000 MT this year, with technical support from BARC, Mumbai. The pilot of onion irradiation and cold storage taken up last year has been found to have resulted in the reduction of storage loss to less than 10 per cent.