Mumbai :After showcasing them on several occasions, BMW Motorrad has announced the pricing of its G 310 range of motorcycles. The BMW G 310 R will retail for Rs 2.99 lakh, while the G 310 GS has been priced at Rs 3.49 lakh (both ex-showroom).
After a near two year delay, BMW Motorrad has finally launched the BMW G 310 R and G 310 GS in India. The G 310 R is priced at Rs 2.99 lakh and rivals the KTM 390 Duke (Rs 2.4 lakh), Bajaj Dominar 400 – ABS (Rs 1.62 lakh), the Mahindra Mojo XT 300 (Rs 1.63 lakh) and the Benelli TNT 300 (Rs 3.29 lakh).
On the other hand, the G 310 GS adventure tourer is priced at Rs 3.49 lakh and competes against the Royal Enfield Himalayan (Rs 1.68 lakh) and the more expensive Kawasaki Versys-X 300 (Rs 4.69 lakhs).
The BMW G 310 R and the G 310 GS are powered by the same 313cc, single-cylinder, DOHC, liquid-cooled motor that produces 34PS at 9500rpm and 28Nm at 7500rpm. Power is transferred to the rear wheel via a 6-speed gearbox.
Both the G 310 R and the G 310 GS get 41mm inverted front forks and a rear monoshock. However, the front suspension travel on the GS is 180mm, which is 40mm more than that of the G 310 R. It’s the same story at the rear as well since the G 310 GS’ rear monoshock gets 180mm of travel, which is 49mm more than the BMW G 310 R. Both motorcycles share the same braking components too – a 300mm front disc and a 240mm rear disc brake equipped with dual-channel ABS as standard.
BMW Motorrad dealers across the country have already commenced bookings for both motorcycles for a token amount of Rs 50,000. The launch price of both is inclusive of three-year unlimited kilometre warranty, which can be further extended up to 5 years. there is road-side assistance available as well. Apart from this, BMW Motorrad is also offering factory finance EMI scheme of Rs 6,999 of the G 310 R and Rs 7,999 on the G 310 GS.
India to post Customs intelligence officers in China to check financial frauds
New Delhi: India has decided to post Customs intelligence officers in China in its effort to check black money, trade-based money laundering and other financial frauds, officials said.
Two posts of the Customs Overseas Intelligence Network (COIN) have been created in the Indian Embassy in Beijing and in the Consulate General of India at Guangzhou, they said.
The Finance Ministry has begun the process to select officers for the postings.
The move has been initiated by the Directorate of Revenue Intelligence (DRI), the lead agency to check Customs frauds and smuggling, to curtail incidents of trade-based money laundering and other financial frauds originating from China, the officials said.
COIN officers are usually mandated to pass on intelligence or information gathered from their respective positing stations overseas to help Indian intelligence agencies – mainly DRI – check trade-related frauds, they said.
“COIN officers play an important role in checking trade-based money laundering, black money and tax evasion by sharing intelligence with Indian agencies. Since a significant import and export is done between India and China, it was considered imperative to expand the snoop network to China,” an official said, wishing anonymity.
In the past, Customs authorities in India have detected a few cases of smuggling to and from China, he said.
COIN officers have been posted in several countries, including Nepal, Singapore, Brussels, the US and the UK, to help Indian authorities check smuggling, the officials said.
The selection process involves concurrence by the Ministry of External Affairs and final approval by the Prime Minister Narendra Modi-headed Appointments Committee of the Cabinet, they said.
Giving details of the process, the officials said an evaluation committee comprising directors general of DRI, Directorate General of Goods and Services Tax Intelligence, National Academy of Customs, Excise and Narcotics and the Directorate General of Human Resource Development will evaluate the service records of concerned officers for posting.
A high-level committee comprising the chairperson, two members of the Central Board of Indirect Taxes and Customs and the director general of DRI will interview the officers, they said.
The board will then recommend a panel of three officers for each post to Finance Minister Arun Jaitley.
After obtaining the finance minister’s approval, the panel will be forwarded to the Ministry of External Affairs for its concurrence followed by a reference to the Appointments Committee of the Cabinet for final approval, the officials said.
SEBI mulls reducing rights issue listing time
Kolkata: After reducing time to list shares on the stock exchanges post-closure of initial public offerings (IPOs), markets regulator SEBI is aiming to cut down the time for listing of rights issue shares, an official said.
In September last year, the Securities and Exchange Board of India (SEBI) decided on reducing the time to list shares on the bourses after IPO to 3 days from the present 6. The SEBI directive is likely to come into effect from July this year. SEBI had cited mitigating external risks such as market volatility and uncertainty of financial markets as the reason behind the move.
“SEBI aims to reduce the listing of IPO shares to 3 days from 6 days now. It is supposed to be introduced for IPOs from July 2019 onwards. Now, the regulator is working on simplifying the rights issue process,” Central Depository Services (India) Ltd (CDSL) VP (operations) Nitin Ambure told PTI. “I hope the number of days for listing the rights issue shares may come down to 8-10 days from about a month now. This may happen in phases, also depending on the regulator’s final decision,” he said.
Ambure was in the city to participate at a discussion on demat of unlisted shares at the Merchants’ Chamber of Commerce here. The markets regulator has involved stakeholders such as depositories and transaction advisors in the rights issue listing simplification process, just like it engaged exchanges and depositories for IPO shares, he said.
From April onwards, Unified Payments Interface (UPI) will be introduced as an alternative payment option for retail investors and SEBI has already cleared a proposal on it. National Electronic Funds Transfer (NEFT) is also being tested.
Analysts said the new payment mechanisms will make Applications Supported by Blocked Amount (ASBA) mechanism less attractive to investors. ASBA was introduced by the regulator so an investor does not lose out interest component on the application money.
Earlier, the process of normal allotment of shares for IPOs took almost a month. Ambure said SEBI had granted relaxation for processing Demat Request Number from the current 15 days to 30 days in the wake of unusual surge in requests for dematerialisation in recent months. As of now, the transfer of shares in the demat form is mandatory.
L&T may spend about USD 1 billion in Mindtree takeover bid: report
Mumbai: Indian conglomerate Larsen & Toubro Ltd would spend up to 70 billion rupees (USD 1.02 billion) in a hostile bid to buy IT services company Mindtree Ltd, the Times of India (TOI) reported citing sources directly involved with the matter.
L&T will buy out Mindtree’s largest shareholder VG Siddhartha and companies in which he is a promoter, following which an open offer will be sent to the public shareholders of Mindtree, according to the report published on Monday.
The AM Naik-helmed L&T is buying Siddhartha’s nearly 21 per cent stake for over 30 billion rupees, at 981 rupees a share, which will make it Mindtree’s largest shareholder. Following this, L&T will trigger an open offer for another 26 per cent from public shareholders, the report said.
Siddhartha, who is a promoter of Coffee Day Enterprises Ltd and Coffee Day Trading Ltd, holds a 3.33 per cent stake in Mindtree as of December-end, BSE data showed. Coffee Day Enterprises and Coffee Day Trading carry a combined 17.08 per cent stake in Mindtree.
Mindtree was not immediately available for a comment while L&T said they did not comment on market speculations.