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7.12.17

Direct selling industry initiates Aadhaar-based KYC

India's growing direct selling industry has initiated Aadhaar-based 'Know Your Customer' (KYC) process for better control and compliance with norms. 

Regulated sectors such as banking, insurance, telecom and exchange industry players (broker/sub-brokers and their clients) were among the first to introduce Adhaar-based 'e-KYC' to meet the stringent norms of their respective regulators. 

Joining the bandwagon is now the direct selling industry, which falls under the purview of the Ministry of Consumer Affairs (MCA). It is switching to Aadhaar-based e-KYC for its vast network of independent representatives (IRs). 

Direct Selling is a heavily-employment generating industry. Currently, an estimated 50 lakh people are engaged in India by this sector. This number is expected to increase to 1.8 crore by 2025, as per a FICCI-KPMG report. 

The direct selling companies have stepped up their efforts to have KYC for all their IRs, particularly since the issuance of Model Direct Selling Guidelines by the MCA last year. 

Recently, companies like 4Life and QNET announced that they have initiated Aadhaar-card based e-KYC process. 

"Adoption of global best practices will lead to resolution of challenges for the Indian direct selling players. 

"Aadhaar-based KYC is a foolproof and most reliable method for identity verification. We have initiated Aadhaar- based verification for all representatives associated with us," said Trevor Kuna, Global CEO of QNET. 

QNET will continue to implement global best practices and follow all regulatory norms to ensure highest standards of ethics and transparency, Kuna said. 

According to the annual survey report 2015-16 of Indian Direct Selling Association (IDSA), brought jointly with the PHD Chamber of Commerce and Industry, the gross sales of the industry increased by Rs 350.2 crore to Rs 8,308.5 crore in 2015-16 as against Rs 7,958.3 crore in 2014-15, a growth rate of 4.4 per cent. 

India's ranking in terms of the size of the sector also improved in 2015-16 to 20th as against 22nd in 2014-2015, the report said. The Industry is poised to reach up to Rs 25,826.1 crore by 2024-25. 

Under the guidelines, the direct selling companies are mandated to maintain a "Register of Direct Sellers" with relevant details such as verified proof of address, proof of identity and PAN card details of each enrolled IR. 

Easier to do business in India: Doug DeVos, Amway Corporation

Amway Corporation, the world's largest direct selling company, expects its India operations to become half a billion dollar business in threefive years, Doug DeVos, global president of the $8.8-billion US company, told ET in an exclusive interview. 

In India for the Global Entrepreneurship Summit, DeVos said the global business community’s perception OF India has improved significantly in recent months. “There's this perception going around the world that India is moving pretty strong,” he said. 
“Rankings such as the World Bank’s Ease of Doing Business are really important for the global business community; the visibility and reputation India is getting around the world is increasingly positive,” DeVos said. 

“So it’s a huge measure for the world to see — that it’s becoming easier to do business here.” India jumped 30 notches to break into the top 100 in World Bank’s Ease of Doing Business ranking this year, and Moody’s Investor Service upgraded sovereign rating for the first time in 14 years. 

Amway, which makes Nutrilite protein powder, Satinique shampoo and Artistry skin products, will debut an ayurvedic products range in India early next year, in response to consumer trends, to address nutrition needs. 

With revenues closing at Rs 2,000 crore, India is Amway's seventh largest market currently and DeVos said the target is to make it the fifth biggest market in two-three years. China continues to be its biggest market, followed by the US, Japan and Korea. “India has a reasonable expectation to break into the top five markets,” he said. 

Amway Corp has invested over Rs 1,000 crore the country, and will continue to, incrementally, he said. 

While Amway, along with other direct sellers, have been facing issues of legislation, DeVos said directives to define legitimate direct selling on consumer protection are progressive. Direct selling is a model where companies sell products to consumers through agents instead of retail stores. 


“We know it (perceptions about direct selling) will take time to solidify but the direction is clear,” DeVos said. 

“Perception is not sorted out completely. The market place is so big, there remains confusion about our business model. But that’s the case in many markets around the world. We understand what it takes to move forward and the priorities that the country has and how we fit as an industry.” 
Amway India, making almost all products locally, is working to be part of the parent’s global supply chain. “We want to grow fast, but we also want to make sure it’s sustainable,” DeVos said. “The Goods and Services Tax (GST) implementation slowed us down a bit, but this is the future.” 

While it leads the Rs 8,000-crore direct selling industry in the country, Amway competes with Hindustan Unilever and Procter & Gamble across categories. 
“Our challenge is execution, how to get and keep more customers, hit the right price points, to meet launch schedules. Execution is becoming easier in India. The environment is very strong and this is a growing economy; as the economy grows, wealth will grow,” DeVos said. 

Direct selling can be regulated under new consumer bill: Government

Amid demands for a legal status to the direct selling industry, Consumer Affairs Secretary Avinash K Srivastava said today that it can be regulated by framing rules under the proposed consumer protection bill. 

In 2016, the government had issued guidelines for the direct selling industry and differentiated it from Ponzi schemes. 

Chattisgarh and Sikkim have already adopted them and few more are in the process of doing so. Since the guidelines are not binding, states .. 

Addressing the event, he emphasised upon the need to cap commissions paid to sales teams working under the direct selling structure. 

"Why not cap commission paid by direct selling enterprise to direct seller? Amway has capped at 20 per cent. Think over this issue," he told the industry representatives from Modicare, Oriflame India and others at the event. 

However, former Consumer Affairs Secretary Hem Pande and Oriflame India Senior VP & Head of South Asia and MD Sergei Kanashin pitched for "self-regulation" of the sector. 

"Self-regulation is best. What is the point of having a law if it is not implemented by all states? Direct selling is India's DNA. It has great future," Pande said. 

India's share in global direct selling industry is very small at present, though the country has large consumer base. At least, the country should aim to touch USD 10 billion by 2022, he added. 

Echoing the view, Kanashin said that the direct selling industry in most countries including the US is self regulated and is doing well. 
He also highlighted challenges being faced from cyber security and growing e-commerce platform. 

The Confederation of All India Traders General Secretary Praveen Khandelwal said that there is an urgent need to grant legal status to the direct selling sector. 

The Confederation of All India Traders General Secretary Praveen Khandelwal said that there is an urgent need to grant legal status to the direct selling sector. 

"Treat direct seller as traders. The status as retail trader or part of retail trade should be granted to direct sellers," he said, adding that states are slow in adopting the guidelines. 

He also said that there is a need to evaluate the impact of Goods and Services Tax on the direct selling industry. 

Still thinking of buying Bitcoin at $13,000? Warning! RBI has a message for you

Even as Virtual Currencies (VCs) including Bitcoins are recording all-new highs leading to a rush among investors wanting to capitalise on the sudden surge in their values over the last week, Reserve Bank of India doesn’t appear much enthused by the idea.
Even as Virtual Currencies (VCs) including Bitcoins are recording all-new highs leading to a rush among investors wanting to capitalise on the sudden surge in their values over the last week, Reserve Bank of India doesn’t appear much enthused by the idea. Cautioning users, holders and traders of VCs third time since February 2013, India’s central banking institution on Tuesday came out with another warning letter making them aware about the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with such VCs. “In the wake of significant spurt in the valuation of many VCs and rapid growth in Initial Coin Offerings (ICOs), RBIreiterates the concerns conveyed in the earlier releases,” said the central bank. RBI clarified that it has not given any licence or authorisation to any entity or company to operate such schemes or deal with Bitcoin or any VC. Bitcoin, the most popular cryptocurrency, reached an all-new high on Wednesday and topped the $12,000 mark for the first time ever. The Reserve Bank of India first cautioned the investors about the risks associated with trading in VCs way back on 24 December, 2013. Thereafter, it was on 1 February, 2017 another press release was issued by the central bank in this regard. Bitcoin was trading at levels of $644.64 and $985.2 on 24 December and 2 February respectively on digital asset exchange Coinbase. The first day of February was a holiday.
No fundamental value
Legendary investor Warren Buffett had said in an interview to CNBC in 2014 that bitcoin is a “mirage”, adding that investors should “stay away from it”. In the same interview, Warren Buffett said, “It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A cheque is a way of transmitting money, too. Are cheques worth a whole lot of money just because they can transmit money?… The idea that it has some huge intrinsic value is just a joke in my view.” Reiterating his belief on Bitcoins and cryptocurrencies, Warren Buffett told Marketwatch in October this year: “You can’t value bitcoin because it’s not a value-producing asset,” adding that it is a “real bubble in that sort of thing”.
Fraud
The rapidly surging price of Bitcoin, without any underlying asset or value-base, has irked the top banker Jamie Dimon. “Bitcoin is a fraud and will blow up,” Jamie Dimon, the CEO of JPMorgan Chase, said earlier this year, adding, “The currency isn’t going to work.” He pointed out to the absence of an underlying monetary base to support its value. “You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart,” Jamie Dimon said.
Bubble
Renowned investor Jim Rogers, sometimes referred to as commodities guru, too has sounded a note of caution on the prospects of cryptocurrencies, preferring to stay away from them for now. “I wish I was smart enough to buy cryptocurrencies.” Jim Rogers said in a recent interview with Kitco news. Further, Jim Rogers seemed to suggest that there might be a bubble building up in the cryptocurrency space. “It looks bubblish when you see the kind of price we see in bitcoins,” Jim Rogers said, adding that he doesn’t own any of the cryptocurrencies. “I certainly don’t know which one will come out on top, or if anyone comes out on top. But, I don’t own any.”

23.11.17

Sikkim, Chhattisgarh adopt direct selling guidelines: Centre



NEW DELHI: Sikkim and Chhattisgarh have adopted model guidelines on direct selling while Karnataka, Maharashtra and Tamil Nadu are in the process of implementing the same, Union Consumer Affairs minister C R Chaudhary said today. He said the government will consider the industry's proposal to frame a separate law to regulate the direct selling sector, which industry body Assocham expects to hit Rs 45,000 crore by 2025, from the current Rs 7,770 crore. The sector needs to be developed further as it has high potential to generate jobs in the country, he added. "We had come out with model guidelines on direct selling in September 2016. So far, Sikkim and Chhattisgarh have adopted (them)," Chaudhary said at an Assocham event. Karnataka, Maharashtra and Tamil Nadu are in the process of implementing the norms. "We cannot force states to adopt the guidelines. However, we hope more states will implement it," he added. The guidelines, which offer clarity on the direct selling sector, has prohibited pyramid as well as money circulation schemes in the garb of direct selling business.


On industry's demand to frame a separate law, the minister, on the sidelines of the event, said: "We are going slow on this. We will do it gradually. First, we have issued guidelines and the next step is framing a law. We will certainly think on these lines." Earlier addressing the event, the minister said a progressive legislation is required as there is still some "drawback" in the system. Any business can grow if the regulatory systems are in place to facilitate production to marketing of products, he added, highlighting the government schemes, including Start-Up India, launched to encourage entrepreneurs.

direct selling guidelines: Sikkim, Chhattisgarh adopt direct selling guidelines: Centre - The Economic Times Assocham Consumer Affairs Council Chairman Vijay Sardana said, "Enterprise spirit has been evoked by the government by launching schemes like Start-Up India and Stand-Up India. These schemes will not be successful unless direct selling industry is strengthened and promoted." Much of the focus of these schemes is on boosting production and there is no policy to facilitate marketing, he observed.  


source by: https://economictimes.indiatimes.com

6.11.17

दोस्तो आज मै आपको एक कॉइन के बारे में बताने जा रहा हु जो कोई mlm प्लान नही है बल्कि एक वास्तव में कॉइन है

दोस्तो आज मै आपको एक कॉइन के बारे में बताने जा रहा हु जो कोई mlm प्लान नही है बल्कि एक वास्तव में कॉइन है जो कि bittrex exchange में लिस्टेड होगा। youtube पर आप इस कॉइन की जानकारी ले सकते हो।


💥 अभी pre ICO चल रहा है जो कि 7 nov को खत्म हो जाएगा। अगर आप अभी कॉइन खरीदते हो तो आपको 20% ज्यादा कॉइन मिलेंगे।
💥 7 nov के बाद एक महीने तक ico शुरू ही जायेगा उस समय अगर कॉइन खरीदते हो तो 15% कॉइन जियादा मिलेगा।
💥 कुल 36 करोड़ कॉइन है कंपनी के पास जिसमे से 3.6 करोड़ कॉइन pre ico में और 10.4 करोड़ कॉइन ico में बिक जाएंगे।
💥 कंपनी ने एक ऐसी 678 लोगो की community बनाई है जिनको पहले से ही 10 करोड़ कॉइन बेच चुकी है और वो एक साल तक कॉइन को बेच नही सकते है।
💥 सिर्फ 14 करोड़ कॉइन ही bittrex पर बिकने के लिए आएंगे जहां कॉइन का रेट जल्दी increase हो जाएगा।
तो दोस्तो जो लोग electronium coin को खरीदने में चूक गए है वो ये मौका न गवाये। अभी register करे ।

********************************************************************************************
Friends, today I am going to tell you about a coin which is not an MLM plan but it is actually a coine which will be listed in the bittrex exchange. You can get information about this cue on youtube.
💥 Just running pre ICO, which will end on 7 nov. If you buy cows now, you will get 20% more corn.
💥 After 7 nov, ico will start for one month, if at the time of purchase of cows, 15% coin will be available.
💥 A total of 36 crores of croin is owned by the company, out of which 3.6 million can be sold in Pre ico and 10.4 crores in Coin ico.
💥 The company has created a community of 678 people who have already sold 10 crores of cows and they can not sell Coin for one year.
💥 Only 14 crores of Croin will come to sell at bittrex where the rate of Coin will be increased soon.
So friends who have missed the purchase of electronium coins do not get this chance. Register now.

NAME: Ahmed +919516737718

10.10.17

Dosto aap se anjane me bahut badi galti to nahi ho rahi hai-

दोस्तों आप से अनजाने में बहुत बड़ी गलती तो नहीं हो रही है, इस लाइन को मै इस लिए लिख रहा हु क्यों की कल कई दोस्तों से अपनी बात हुई और ओ ज्वाइन भी लिए , दोस्तों आप कंपनी करे या न करे लेकिन उसके विषय में पूरी जानकारी ले उसके बाद आप अपना निर्णय ले। प्रिय दोस्तों , क्या आप किसी अच्छी mlm कंपनी की तलाश में है तो आप की तलाश ख़त्म . हिंदुस्तान की एक कंपनी जिसका नाम DTG है जिसके डायरेक्टर श्री A R RAJA है. कंपनी तमिलनाडु से है. १५ साल के संघर्ष के बाद एक ऐसा प्रोडक्ट बनाये जो इस समय किसी भी कंपनी और किसी देश में नहीं है. आप सोचो की हम और आप कितने सौभाग्यशाली है . प्रोडक्ट ऐसा की जिसका रिजल्ट आप १५ मिनट से २४ घंटे में आप को मिलेगा , इनकम भी इतनी अच्छी है की अभी तक किसी कंपनी ने नहीं दिया होगा. दोस्तों सोचना आप को है कॉल करे या न करे नो=9695710226......

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