Newsletter dated 28th March, 2015

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THOUGHT OF THE DAY
“What the mind can conceive, it can achieve...”
Law Updates:
 The government is going to finally unveil the new Foreign Trade
Policy (FTP) for 2015-2020 on April 1. It is expected to offer a slew
of incentives for the exporters who are reeling under a slowdown in
global demand.
 The Reserve Bank of India (RBI) has proposed to tighten the norms
for large exposure by capping a bank's exposure to 25 per cent of its
tier-I capital, both for single borrower and also for the group.
 The Securities and Exchange Board of India (SEBI) is likely to put
out a discussion paper on the listing norms for start-ups next week.
 CIMA and the Institute of Cost Accountants of India (ICAI) signed a
historic memorandum of understanding (MOU) on 31 January
2015, to allow mutual advanced entry for members of both
professional bodies. Proven members of ICAI would be offered an
exclusive pathway route by CIMA, and allowed exemptions for 16
papers.
PROFESSIONALS INPUTS
 RBI changes public deposit rules for NBFCs. The earlier revised
regulatory framework for NBFCs was issued in November 2014. An
asset finance company or a loan company or an investment
company having a minimum Net Owned Fund (NOF) as stipulated
by RBI and complying with prudential norms may accept or renew
public deposits. This, together with the amounts remaining due in
the books of the company as on the date of acceptance or renewal of
such deposit, not exceeding one and a half times its NOF. (RBI
Notification ref RBI/2014-15/520 DNBR (PD) CC.No. 024/
03.10.001/ 2014-15 dated March 27,2015)
 CBDT issued Circular No 4/2015 dated March 26,2015 providing
Clarification regarding Explanation 5 to Clause (i) of sub section 1 of
section 9 of Income Tax Act, 1961 in respect of taxability of income
accruing or arising through transfer of capital asset situated in
India.
MARKET WATCH:
SENSEX: 27458.64 1.06 NIFTY: 8341.40 -0.75
SILVER: 38400.00 -213.00 GOLD (MCX): 26592.00 -209.00
USD/INR: 62.41 -0.27 CRUDE OIL: 3146.00 -107.00
CS Rajiv Bajaj
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Bajajr66@gmail.com
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Date: 28th March, 2015

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Aparna Banarjee
Social entrepreneur
“Be undeniably good. No marketing effort or
social media buzzword can be a substitute for
that.”
Aparna Banarjee is a pioneering social entrepreneur based
in Kolkata. Aparna through her Project Sukanya has been
tirelessly working for under-privileged yet talented women
in the area of selling their designs and other items such as
spices and pickles in the streets of Kolkata.
Early Life:
Started in 2005 as a small enterprise, today the business model has been turned into a role model for social
change. Project Sukanya has been selling their ideas in designer carts which look like mobile shops under the
brand ‘BOU’ (married woman in Bengali). The USP of the brand is low pricing but high quality products. Aparna
is an alumni of XLRI, Jamshedpur. She is also an anthropologist. While Aparna Banerjee was pursuing an MBA
degree in Supply Chain Management at the Xavier Labour Relations Institute, she simultaneously began work
on a distribution model on micro-management, where the aim of the project was to connect rural suppliers with
urban consumers.
Career:
Since young, Aparna Banerjee wanted to be her own boss. When she was 17, her father quit his job, and when money
became scarce in the family, Aparna Banerjee started manufacturing transformers to earn a living. And in the first
three months, she managed to earn Rs 18,000. Even as a teenager, her entrepreneurial skills were strong and by the
age of 21, her earnings went up to Rs 1.8 crores. Given the success of her first business venture, Aparna Banerjee
decided to hone her entrepreneurial skills and build upon her strengths. This is something that all youngsters can
learn from Aparna Banerjee. It is important to understand our strengths and weaknesses. All of us are gifted with
certain skills and abilities and it is our responsibility to identify our strengths and put them to good use in our
personal and professional spheres of life.
Project Sukanya is a platform for skilled women to promote handicrafts and homemade products and in turn earn a
living – this is how Project Sukanya generates employment for women. Mobile carts bearing the word ‘bou’ are placed
at major intersections in Kolkata and products such as handicraft items and homemade snacks, pickles and jams are
sold under the name of Project Sukanya. So, employment is created in two areas – production of goods and sale of
goods. There are 54 roadside mobile kiosks that are manned by 141 women, who work in shifts. Apart from these
women, 3,500 others who are involved in the production of the items also benefit from the project.This project has
gotten the approval from Dr Manmohan Singh, who has assured Aparna Banerjee that he would provide assistance in
times of need. Apart from having mobile stalls that reach out to consumers, Aparna Banerjee established a common
facility at Topsia so that women from rural areas can congregate at one place to showcase their samples before they
are graded and transported to mobile stalls for sale. Sample products are graded and divided into three categories –
products of category A are those that can be sold immediately, products of category B require attractive packaging
before they are sold, and products of category C are those that are plenty in the market and hence, have reached
market saturation level. This way, Aparna Banerjee ensures that only items with economic value and returns are
produced by women. Aparna Banerjee’s Project Sukanya is a life-saver not only for women but for families too.
Education should not only help individuals but the entire society, and this is something that we can learn from Aparna
Banerjee’s initiative. If we want the nation to grow as a whole, it is important to give back to the society and improve
the welfare of the poor. If everyone thought and acted like Aparna Banerjee, India would be a much better economy
today.