Leisure, Lifestyle & Wellness
Top Ramen noodles too withdrawn from market
Indo Nissin Foods Ltd. on Monday announced the withdrawing of its instant noodles brand Top Ramen from the market on the direction of regulator Food Safety and Standards Authority of India (FSSAI).
 
"We are withdrawing our instant noodles Top Ramen from the market as our application for regulator approval is still pending with the FSSAI," a company official told IANS.
 
The city-based company sought clarification from the regulator on its June 8 advisory on product safety testing of all instant noodles after it ordered Nestle India on June 5 to recall all nine approved variants of Maggi noodles.
 
"The regulator has directed us to withdraw our product till it (FSSAI) clarifies to our query and gives approval to Top Ramen noodles," the official added.
 
After Maggi withdrew its varieties of noodles, leading FMCG major Hindustan Unilever also pulled out its Knorr instant noodles brand over safety issues.
 
Indo Nissin Foods Ltd. managing director Gautam Sharma said the company tested its noodles after safety concerns of ready-made food products became a public issue.
 
"Testing of our noodles at accredited labs in the city showed that lead levels in two cases was slightly higher in their tastemaker," Sharma admitted.

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Nifty, Sensex, Bank Nifty to move sideways – Monday closing report
Nifty may not decline much as it stays above 8,200
 
In the previous week we had mentioned that Nifty, Sensex, Bank Nifty may come under pressure. Last week’s optimism was brought to a halt on Monday. In line with other Asian indices, the Indian indices too opened deeply in the red today, following a new crisis in Europe. Greece's European partners shut the door on extending a credit lifeline to Athens, leaving it facing a default, which could push it out of the euro. Greece shut down its banking system, ordering lenders to stay closed for six days starting today to avoid a run on the country's banks and its central bank moved to impose controls to prevent money from flooding out of the country. However, in the post-lunch session it showed a remarkable rally and recovered 60% of the days losses. Nifty crossed the crucial 8300 level and managed to stay above that for the remaining session.
 
NSE recorded a volume of 74.51 crore shares. India VIX rose 9.76% to close at 17.2975.
 
The weekly data released by the Ministry of Agriculture after trading hours on Friday showed a pick-up in planting of Kharif crops. This news pulled the FMCG stocks higher today.
 
The Reserve Bank of India (RBI) has clarified that its Governor Dr Raghuram Rajan had not suggested at a London Business School conference on 25 June 2015 that the world risked sliding into another Great Depression as reported by sections of the media. The RBI clarified that what Rajan had said at that conference was that the policies followed by major central banks around the world were in danger of slipping into the kind of beggar-thy-neighbour strategies that were followed in the 1930s. Rajan called for new rules of the game in the international monetary system, a call that he has made before and is gaining some traction. 
 
India and Thailand signed a number of important agreements, including the double taxation avoidance treaty, and exchanged instruments of ratification on the extradition treaty inked in 2013, which provides for the legal framework for seeking extradition of fugitive offenders.
 
The financial crisis in Greece may have an indirect impact on India as it impacts the euro, Finance Secretary Rajiv Mehrishi said on Monday. He also said that India is monitoring developments after the breakdown in talks between Greece and its creditors but does not have a firm plan in place to deal with any significant fallout.
 
A new IMF study shows that Indian banks are faster in effecting a lending rate hike, but not so quick in raising deposit rates.
 
The RBI is likely to cut benchmark rate by 25 basis points in its policy meet on August 4 provided rains are normal, a Bank of America Merrill Lynch report says.
 
Larsen & Toubro said it has received orders worth Rs 2,035 crore across various business verticals in June 2015. The stock rose 0.44% to close at Rs 1787.80 on the BSE.
 
Tech Mahindra fell 7.19% to close at Rs484.35 on the BSE. It today hit its 52-week low after the company said in its business update its Q1 results have some headwinds and tailwinds, which could see a risk of marginal decline in both revenue and EBITDA (earnings before interest, taxation, depreciation and amortization) margin on a sequential basis.
 
 
US indices had mixed closing on Friday.
 
US consumer sentiment rose to a final June reading of 96.1, reaching a five-month high after a decline in May, according to reports on the University of Michigan gauge.
 
Asian indices closed in the red today. Shanghai Composite  was the top loser which fell 3.34%.
 
China's central bank cut interest rates on Saturday and reduced the reserves that certain banks must hold.
 
 European indices deeply were in the red. US Futures too were trading lower.
 
 The European Commission Sunday offered Greek voters a 10-point plan for bailout requirements, urging Greece to stay in the euro area.
 

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Mumbai needs separate corporation to address railway issues
Over the years, Mumbai city not only discarded Rail stations, but also some of the transport systems and ways. Had we maintained and upgraded these transport modes, Mumbai would have been a different city today, says Rajendra B Aklekar, journalist and author of ‘Halt Station India’
 
It has been a romantic journey of almost 162 years on the Indian Railways and during all these years, we have seen so many changes that sometimes are beyond our imagination. Today, we have metro, monorails making grand entry but Indian Railway will always remain the first, preferred and cheapest choice for the aam admi, says Rajendra B Aklekar. The author and journalist was speaking at Moneylife Foundation on "Romance of the Railways: The changing face of railways and our rich railway history".
 
“Mumbai’s existing infrastructure is saturated. The demand of Mumbai Suburban Rail Network are different from the entire country. Even though, there are two divisions, Central Railway and Western Railway, for everything Mumbai Rail Network requires to approach, take permission from Delhi. This needs to be changed and Mumbai needs a separate, comprehensive local corporation for the region’s railway related needs,” Mr Aklekar said.
 
Several activists, transportation experts supported the idea and proposed to take it with the Railway Minister. 
 
"More than 7.5 million or 75 lakh people travel by Mumbai's local trains. Everyone is in a hurry and no one has time to notice and realize that the line that they travel is the oldest line of the country. It is the ground zero of Indian Railways, from where the lines and the story of the railways in India begun," Mr Aklekar said while explaining why he wrote his book 'Halt Station India'. The book chronicles dramatic expansion of India's original rail network, the arrival of the first train and the subsequent emergence of a pioneering electric line-all in the port city of Bombay.
 
Mr Aklekar, a journalist with Mumbai Mirror, has trained in museology to document Bombay's vanishing relics and helped the railways set up heritage galleries. He has worked on several prestigious projects to conserve the city's ancient structures.
 

In first part of his talk, Mr Aklekar mesmerised the audience with numerable discoveries along the Rail lines over the years. For example, he said, the place at Mumbai Chhatrapati Shivaji Terminus (CST), erstwhile Victoria Terminus, was known as Phansi Talao some two hundred years ago. "Little did they (terrorist Ajmal Amir Kasab and Ismail Khan) knew that they were standing at a place exactly where more than 200 years ago, there was a water tank where criminals and murderers were publicly rallied, tortured and hanged to death. It had several odd machines - one that threw cow dung on criminals, a rotating cage that kept spinning to punish criminals. The place popularly called Phansi Talao ceased to exist in 1860 when the Bombay governor shut the open gallows and shifted it to Dongri," Mr Aklekar said.
Bhavesh Patel with Sampat Shetty
Talking about the development of Railways, which also saw some stations being discarded, the author said, "Historically, we have had means of transport that could have been of immense help now. The railway lines went all the way to Colaba and Ballard Pier, there was a Chembur to Andheri railway line that passed through Kurla, Kalina in place for east west connectivity and trams. All these modes of transport were discontinued as we opened up more and more land for development."
 
Colaba station opened in 1873 was shut in 1930 during the Backbay reclamation project. The two-platform station at Ballard Pier used to ply two famous trains, Punjab Limited and the Frontier Mail to Karachi. However, it was discontinued in the 1940s as the navy took over the site, Mr Aklekar said. 
 
It was the fate of other transportation systems like the Trams as well. Mr Aklekar said, "First proposals for the tram came in 1865 called Bombay Horse Railway Company. However, it did not materialise due to American Civil War. The first section on Tram opened in 1874 between Colaba and Pydhonie. Later in 1926, buses came to Bombay. A survey in 1952 found road transport vehicles increasing and tramway becoming hurdles. On 31 March 1964, the last tram run between Bori Bunder and Dadar after 90 year run." 
 
"Had we maintained and upgraded these transport modes, Mumbai would have been a different city today. Would they have been of real help or not will be debatable, but we would have had established modes of transport in a city,  where we have 15 lakh vehicles today, more than 500 are registered everyday despite limited east west connectivity, Mr Aklekar concluded.
 
 

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