Drass gets its first ATM

The ATM has been installed in the town on Srinagar-Kargil-Leh highway by state-owned Jammu and Kashmir Bank

 
Srinagar: The second coldest inhabited place in the world, Drass town in Jammu and Kashmir, got its first automated teller machine (ATM), reports PTI.
 
The ATM has been installed in the town on the Srinagar-Kargil-Leh highway by state-owned Jammu and Kashmir Bank. The outlet was inaugurated by the bank’s executive president, Tafazal Hussain.
 
“Our expansion plan is focused on delivering banking services at people’s doorstep regardless of where they stay,” Mr Hussain said.
 
He said the bank will be opening more branches and ATMs in the Ladakh zone in the coming months.
 
Drass is known to be the second coldest inhabited place in the world after Siberia and the minimum temperature during winter can drop to as low as minus 35 degrees Celsius.
 
The town served as the base camp for the Indian Army during the Kargil war in 1999.

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Sensex, Nifty await fresh cues: Friday Closing Report

The Nifty has to break the range of 5,190 and 5,340 for a reversal
 

The market settled lower with the banking sector as the top loser following a RBI panel suggesting stricter regulations on loan restructuring. Political drama at the Centre also weighed on market sentiments. Today, on the lowest volume of 47.55 crore shares on the National Stock Exchange (NSE) since 28 May 2012, the Nifty wiped off all the gains that were accrued yesterday. Yesterday we had mentioned that the Nifty has to break the range of 5,190 and 5,340 for a trend change. The index hit a low of 5,198 today. The market now awaits some fresh domestic cues to bring more momentum therein.

 

The market witnessed a gap down opening on poor showing by corporates, which declared their first quarter numbers on Thursday, and the Asian markets trading lower in morning trade. The Nifty opened nine points lower at 5,234 and the Sensex started off at 17,275, a cut of four points from its previous close.

 

While the opening figure on the Sensex was its intraday high, the Nifty soon followed suit, with a high of 5,239. The market slipped further southward on selling pressure in banking, realty, oil & gas and IT sectors.

 

The market moved in a narrow range on political compulsion at the Centre. Besides, a lower opening of the European markets also added to the woes back home. The benchmarks fell to their intraday lows in late trade with the Nifty at 5,198 and the Sensex dropping to 17,130.

 

The market managed to close off the lows with the Nifty declining 38 points (0.72%) to 5,205 and the Sensex settling at 17,158, down 120 points (0.70%).  Investors now await the quarterly numbers of Reliance Industries, which will be announced after the market close.

 

The advance-decline ratio on the NSE was negative at 604:1081.

 

Among the broader indices, the BSE Mid-cap index closed 0.23% lower and the BSE Small-cap index fell by 0.11%.

 

BSE Auto (up 0.27%); BSE Consumer Durables (up 0.21%; BSE Metal (up 0.12% and BSE Fast Moving Consumer Goods (up 0.01%) ended in as sectoral gainers. The main losers were BSE Bankex (down 1.28%); BSE Capital Goods (down 1.14%); BSE Realty (down 0.99%); BSE Power (down 0.95%) and BSE Oil & Gas (down 0.71%).

 

The top performers on the Sensex were Bajaj Auto (up 2.67%); Maruti Suzuki (up 2.43%); TCS (up 1.86%); Coal India (up 0.38%) and Tata Steel (up 0.28%). Dr Reddy’s Laboratories (down 2.68%); BHEL (down 2.47%); Cipla (down 1.67%); ICICI Bank (down 1.58%) and Wipro (down 1.47%) settled at the bottom of the index.

 

The top two A Group gainers on the BSE were—Tata Communications (up 5.82%) and IPCA Laboratories (up 5.21%).

The top two A Group losers on the BSE were—Indiabulls Financial Services (down 4.68%) and Strides Arcolab (down 2.96%).

 

The top two B Group gainers on the BSE were—Advik Laboratories (up 19.96%) and

Aarya Global Shares & Securities (up 13.35%).

The top two B Group losers on the BSE were—Arihant Capital (down 11.45%) and Blue Chip India (down 10.53%).

 

The major gainers on the Nifty were Bajaj Auto (up      2.73%); Maruti Suzuki (up 2.65%); Asian Paints (up 2.23%); TCS (up 1.83%) and Jaiprakash Associates (up 1.04%). BHEL (down 3.02%); Kotak Mahindra Bank (down 2.82%); Dr Reddy’s Labs (down 2.75%); IDFC (down 1.89%) and Ranbaxy Laboratories (down 1.67%) were the main laggards on the index.

 

Markets in Asia closed weak following reports that the Chinese government is unlikely to relax property curbs and a fall in US existing housing sales. 

 

The Shanghai Composite dropped 0.74%, the Jakarta Composite declined 0.37%; the KLSE Composite fell 0.10%; the Nikkei 225 tanked 1.43%; the Straits Times closed 0.44% down while the Seoul Composite settled flat at 1,823. Bucking the trend, the Hang Seng gained 0.42% and the Taiwan Weighted rose 0.23%.

 

At the time of writing, the key European indices were down between 0.39% and 0.90% and the US stock futures were in the negative.

 

Back home, foreign institutional investors were net buyers of shares amounting to Rs125.78 crore on Thursday while domestic institutional investors were net sellers of equities totalling Rs228.84 crore.

 

The government today approved the demerger of surplus Tata Communications (formerly VSNL) land into a separate company, an issue that has been pending decision since Tata Communications acquired the PSU in 2002. The land is estimated to fetch Rs6,150 crore to the exchequer. The stock jumped 6% to close at Rs260.50 on the NSE.

 

IPCA Laboratories has informed BSE that it has received USFDA approval for its oral solid dosage formulations manufacturing facility situated at Pharmazone, SEZ Indore, Pithampur, Madhya Pradesh. This approval will enable the company to commercialise more oral solid dosage formulations in the US market. The stock surged 5.80% to close at Rs395 on the NSE.

 

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Facebook user satisfaction plunges to new lows

The social network juggernaut, Facebook, scored 61 out of 100 in a recent survey conducted by American Customer Satisfaction Index due to drastic decisions involving privacy and introduction of the timeline


Facebook, one of the world’s biggest social networks, has seen its users’ customer satisfaction plunge to new lows, according to a recent survey conducted by the American Customer Satisfaction Index (ACSI) in partnership with customer experience analytics firm ForeSee. The social media juggernaut plunged 8% to 61 on a 100-point scale, setting a new record low score for the ‘Social Media’ category and placing it among the five lowest-scoring companies of more than 230. One of the biggest reasons for its decline was the huge outcry from its costumers about Facebook’s latest Timeline feature. A lot of users did not like the new feature and, in fact, were turned off by it, in addition to the needless advertisements and endless privacy concerns.
 
In contrast, its main competitor —Google has done well with its Google+ social network has done reasonably well as it leverages its own user-base. According to the press release by ACSI, Google+ scored 78 in its first appearance in the ACSI list. Further, it said that Google+’s strong showing is a result of an absence of traditional advertising and what is seen as a superior mobile product. 
 
As more and more users sign up for social networks, it is imperative that user experience be maximised and seamless, without any hassles, especially in the current era of the internet where privacy is one of the biggest concerns. Facebook seems to have annoyed most of its customers by changing its privacy policy too often and introducing the timeline which its users did not like. 
 
With Facebook being a publicly listed company, much of the focus is centred on revenues and meeting Wall Street’s expectations of quarterly results and profit maximisation. This has made the company shift its focus from pleasing its users to pleasing the shareholders. This could prove to be its undoing. It is pertinent to note that the company also bungled its initial public offering by not disclosing certain material facts to its retail subscribers while enriching the investment banks. So if it continues to ignore its main assets — the users — then it could be costly.
 
Claes Fornell, ACSI chairman and author of  The Satisfied Customer said, “E-business websites used to be higher in customer satisfaction than most other categories covered by the ACSI, but their performance over the past three years suggests that they need to respond better to the changing needs and expectations of their customers.” 

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COMMENTS

Rajkumar Singh

4 years ago

It is true that Facebook has not been fair with its users. And it will continue to play with the sentiments of the people, because the company is aware of the facts that its users are fools, stupid, careless, illiterate, immoral, deformed and degraded, and they can easily be taken for such rides, viz., changing the privacy settings, forcing to like it before knowing about anything.

In such a scenario, neither we can change the Facebook, nor can we change the mindsets of the users!

It will die down on its own way, because it can fool some people for some of the time, but it can't fool all the people for all the time.

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