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India’s private sector companies post higher profits, lower debt: RBI

FW Desk
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India’s private sector companies post higher profits, lower debt: RBI

New Delhi:  The operating profit margin as well as net profit margin of private sector corporates in India improved across major sectors during 2023-24 while their debt burden declined during the year, reflecting the growing financial strength, according to the latest data compiled by the RBI.

“The operating profits rose by 15.3 per cent during 2023-24 from 4.2 per cent growth during the previous year, at aggregate level. The operating profit growth of the manufacturing and services sector stood at 13.2 per cent and 15.5 per cent respectively, during 2023-24, from (-) 3.9 per cent and 16.8 per cent growth in 2022-23, ” according to the RBI report.

The profit after tax increased by 16.3 per cent during 2023-24; services sector companies recorded much higher post-tax profit growth of 38.1 per cent when compared to that in the manufacturing sector’s 7.6 per cent.

Reserve Bank released the data relating to the financial performance of non-government non-financial (NGNF) public limited companies during 2023-24 based on audited annual accounts of 6, 955 companies.

The leverage of these companies, as measured by the debt-to-equity ratio, continued to moderate during 2023-24, according to the report.

The interest coverage ratio (ICR) improved to 4.1 during 2023-24 as growth in gross profit outpaced the growth in interest expenses; ICR of manufacturing companies remained stable at 6.3, while it improved marginally to 3.2 for services companies, the RBI said.

The share of internal sources accounted for over two-thirds of the total funds of the sample set of public limited companies during 2023-24, mainly due to a rise in reserves and surplus, the report further stated.

The gross fixed assets of these public limited companies increased by 10 per cent during 2023-24; manufacturing companies, chemicals, pharmaceuticals, electrical equipment, motor vehicles and other transport vehicles sectors recorded higher growth in fixed assets, according to the RBI.

The report further highlighted that the operating profit growth of private limited companies, which are not listed on the stock exchanges, also accelerated during 2023-24, at the aggregate level as well as for the manufacturing and services sectors. Consequently, profit margins, as measured by ratios of operating profit and profit after tax to sales improved during 2023-24.

At the aggregate level, leverage (in terms of debt-to-equity ratio) of the sample of these companies stood close to its level a year ago at 45.2 per cent in March 2024; electricity gas steam and air conditioning supply and construction including civil engineering continued to remain highly leveraged, though some moderation was seen during 2023-24, the report pointed out.

At the aggregate level, the ICR improved to 3.1 during 2023-24 from 2.7 in the previous year; the ICR of manufacturing and services sectors also improved and stood at 8.3 and 2.7, respectively, it added.

Every promise of ‘Sankalp Patra’ will be fulfilled says Hryana CM Saini

Satish Handa
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Every promise of ‘Sankalp Patra’ will be fulfilled says Hryana CM Saini

Chandigarh: Haryana Chief Minister Nayab Singh Saini said the Haryana Government has fulfilled 18 promises of the ‘Sankalp Patra’ in the first 100 days while work is going on 10 promises. He assured that every promise of the ‘Sankalp Patra’ will be fulfilled. He said, people’s trust in the government has increased. State government is giving jobs to youth without ‘parchi-kharchi’ and development work is being done at a rapid speed in the state. Government will work at three times the speed after local body elections. Haryana will move ahead on the path of development at a faster pace and will realize the dream of Prime Minister Sh. Narendra Modi of making a ‘Viksit Bharat’. The Chief Minister was addressing a large gathering in Karnal and Panipat on Tuesday. Targeting the Opposition, Saini said the Congress has always tried to spoil brotherhood, whereas the present government is continuously getting development work done at a fast pace. He said under the leadership of Prime Minister Modi, the people of the country are continuously expressing their trust in the welfare policies of the government and recently, in the Delhi elections, the people put their stamp of trust on the policies of the government. He said after the formation of a government in local body elections, the state government will work at three times the speed.

Haryana Chief Minister Saini, while attacking the opposition, said Congress leaders had talked about selling jobs during the Assembly elections, which adversely affected the morale of the youth, hence the public rejected the Congress. He said the present state government in Haryana has done the work of giving jobs to the youth on merit without ‘parchi-kharchi’. “Today, the trust of the youth in the government has increased and a perception has been created that whoever is eligible, will get selected in the recruitment process,” Saini said while addressing the people present at a programme organized in Panipat on Tuesday. Saini said when the process of giving jobs to the youth was going on during the Assembly elections, the Congress leaders went to the Election Commission and stopped the recruitment process, but the ruling government fulfilled the promise and gave employment to more than 25,000 youths to join service before taking oath as the Chief Minister.

He said Panipat is a religious, historical, industrial and commercial city and keeping this in mind, development work is being done at a rapid pace in this area so that people associated with various businesses can be benefitted. He said there are immense possibilities in industry in the Panipat region and MSME industries can prove to be very effective in this direction. The government has implemented the concept of one block-one product, following the cluster approach to promote the MSME industry. The Chief Minister said it is the responsibility of the government to solve the problems of the public and this is our top priority. Regarding this, strict instructions have been given to all officers that complaints of the public should be resolved within the stipulated time. In this series, all the Deputy Commissioners listen to the problems of the people in ‘Samadhan Camps’ for 2 hours every morning and resolve them. He said he himself regularly reviews these ‘Samadhan Camps’ and also talks to people.

Saini said under the leadership of Prime Minister Sh. Narendra Modi, the Central Government has strengthened the country in the last 10 years. Under the guidance of the Prime Minister, the Haryana Government is working for public welfare. The state government is continuously working to fulfill the promises made in its ‘Sankalp Patra’. “Within 100 days of the government, a free dialysis facility is being provided to kidney patients. Today, more than 15 lakh women are being given cylinders for Rs 500,” CM said the government has given ownership rights to people living in houses built on Panchayat land.” The Chief Minister said there is a double engine government in Haryana, which is ensuring equal development of every sector and now with the formation of a triple engine government soon, development work will be done at a faster pace on the ground. There is enthusiasm and trust in the public towards the present government. The government’s vision regarding development is clear. Just as the public has expressed their trust in the Lok Sabha and Assembly elections, in the same way, there is a lot of enthusiasm among the people for ensuring the party’s victory in the present municipal elections. 

Among those present in the programme were Development and Panchayat Minister Krishan Lal Panwar, Education Minister Mahipal Dhanda, State BJP President Mohan Lal Badoli, MLAs Pramod Vij, Manmohan Bhadana.

NCRB Report:  Haryana witnessed over 60% rise in rape cases in past 8 years

Satish Handa
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NCRB Report:  Haryana witnessed over 60% rise in rape cases in past 8 years

Rape is the fourth most common crime against women in India. According to the National Crime Report Bureau (NCRB) report, rape cases has started witnessing increase after year 2021 which revealed, 31,677 rape cases were registered in the country, or an average of 86 cases daily. According to NCRB record, 28,046 rape cases were recorded during the previous year 2020 and out of the total 31,677 rape cases registered in 2021 nearly 89% of the rapes were committed by persons known to the victims among them the share of the minor victims below age 18 was nearly 10%. It was also found that consensual sex was committed in most of the cases on the false promise of marriage. According to NCRB 2021 statistics, Rajasthan reported the highest number of rapes among Indian states, followed by Madhya Pradesh and Uttar Pradesh. Among metropolitan cities, the national capital of Delhi continued to have the highest incidence of rape cases as 1,226 in 2021, followed by Jaipur, whereas Kolkata had the least number of registered rape cases among metropolitan cities. Information also revealed that in 80% of sexual violence cases included against Dalit women committed by dominant caste men in Haryana. Moreover, convictions were obtained against all accused persons involved in either rape or murder were committed against girls under the age of 6.

NCRB report specified the 2019 National Crime Records Bureau data, which stated that in Haryana, where Dalits make up around one-fifth of the state’s population, women are raped every day. The cases studied were drawn from 11 out of Haryana’s 22 districts where Swabhiman Society was actively working in these districts in providing support to survivors of sexual violences. The highest number of seven cases emerged from Hisar, six cases in Kaithal and five cases each from Sonipat and Kurukshetra districts. According to the  report Dalit women and girls in Haryana were denied access to justice in cases of sexual violence due to victims in most cases were belonging to higher caste where there were indications Dalit women and girls were specifically targeted for rape by dominant caste men. In over 80% of the cases in this study, all the accused persons involved in the case were from a dominant caste, and in over 90% of cases, at least one of the accused persons was from a dominant caste.  official data from the Haryana SCRB in 2019, showed that in 105 cases of rape against Dalit women, the perpetrators were from a non-Scheduled Caste community in 88.5% of the cases had to compromise due to community and social pressure forcing the survivor or her family into compromises or extra-legal settlements in about 57.5% of the cases. Information revealed Khap panchayats in the state also attempted to interfere with the justice process in over 80% of the cases, by using their economic, social and political power to threaten in most cases. In nearly 50% cases rape victim family remained silent or refrain from pursuing the criminal case or withdrawn complaints or filing of spurious counter-cases with the police due to threats of physical violence and assault, use of political influence, and economic retaliation.

Out of the 40 cases in the study, 62.5% (25 cases) were gang rape cases, which is significantly higher than the 11-12% of gang rapes in rape cases involving all women and girls in Haryana. The high percentage of gang rapes, as found in this study, indicated the collective nature of this crime, whereby sexual violence against Dalit women and girls takes the form of a collective exercise of power and authority by dominant caste members. Of the 40 cases studied, an FIR was not filed in three cases, 12 cases were dropped during the investigation, eight of the cases were dismissed or acquitted by the court and 10 cases are still ongoing and out of the remaining 30 cases which have been concluded, convictions were only obtained in 23.3% of the cases.

The Supreme Court had ordered that all states should abide by the compensation scheme developed by the National Legal Services Authority, under which the minimum compensation payable should be Rs 4 lakh for rape victims and Rs 5 lakh for gang rape victims. However, Compensation was received by the rape victims only in seven out of the 37 cases in this study in which a police complaint had been filed. Compensation was not received in 62% of the cases. Another major obstacle to effective victim and witness protection was the lack of cooperation by the police. Instances of police officers using highly inappropriate and abusive language against survivors or their families in such cases, in turn victimises them further.

In another case supported by the Swabhiman Society, a 13-year-old girl was gang-raped by a group of three men from a dominant caste community. Though her family immediately registered a criminal case, they were threatened with murder by family members of the accused. The survivor’s mother, who was a widow, worked with a family from the same dominant caste as the accused persons and was fearful of losing her job. The combined social, economic, and political pressure forces the victim’s family into compromising the case in most cases. As seen, in 32.5% of the cases, the survivor and sometimes her family were forced to leave the village or neighbourhood due to the stigma surrounding the rape incident and or community pressure. In many cases, the survivor and sometimes her family were only able to continue living in the village because they had agreed to a compromise.

Eight including 6 females arrested running a fake call centre since past 11 months

Satish Handa
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Eight including 6 females arrested running a fake call centre since past 11 months

Gurugram: The Cyber Crime team from Gurugram during night in a raid exposed an illegal call center operating in Badarpur area adjoining Faridabad where fraud was being committed through this call center in the name of providing loans and innocent people were being cheated by trapping them in their net. During raid eight accused including six women employees were arrested from the spot identified as Raju Mandal a resident of Gajraula Kalan in Uttar Pradesh’s Pilibhit district currently living in Vishwakarma Colony in Delhi, Rohit Kumar a resident of Delhi’s Mittal Colony and Rosy a resident of Yakubpur village in Uttar Pradesh, Gyanati a resident of Auraiya district presently living in Badarpur. Police recovered 25 mobile phones and an Airtel WiFi dongle from the possession of arrested accused who were produced in the court on Friday, from where they were sent to Bhondsi jail in judicial custody.

Assistant Commissioner of Cyber Crime police Gurugram Priyanshu Diwan succeeded in exposing more than 50 fake call centers in the past sometime said that on February 4 this month, a complaint was received at the Cyber Crime Police Station, Manesar. The complainant was duped of about Rs 18,000 in the name of file charges, DD and other charges by calling from different numbers posing as a representative of Axis Bank. He said, since then ian nvestigation was going on. Information was received that the accused had committed the crime while sitting in Badarpur area of Delhi. Based on the information, a team was formed under the leadership of the in-charge of Cyber Crime Police Station Manesar and a raid was conducted. when eight accused were caught from the spot itself. The accused used to commit fraud by calling people and getting money transferred in the form of various charges in the name of getting a loan. Information revealed that the accused used to get salary and commission from the defrauded amount in return for this work. The accused were running a call center since May last year and committing fraud. 

PM Modi extends Maha Shivratri wishes, calls for ‘Viksit Bharat’

FW Desk
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PM Modi extends Maha Shivratri wishes, calls for ‘Viksit Bharat’

New Delhi:  Prime Minister Narendra Modi on Wednesday extended warm greetings to the nation on the auspicious occasion of Maha Shivratri, expressing his wishes for happiness, prosperity, and a stronger resolve toward building a ‘Viksit Bharat.’

Sharing a video on X, PM Modi wrote, “I wish all my countrymen a very happy Mahashivratri, a festival dedicated to Lord Shiva. May this divine occasion bring happiness, prosperity, and good health to all of you and also strengthen the resolve for a Viksit Bharat. Har Har Mahadev!”

Union Home Minister Amit Shah also conveyed his Maha Shivratri greetings, emphasising the festival’s deep spiritual and introspective significance.

“Heartiest greetings to all countrymen on the holy festival of Mahashivratri. This festival of the union of Shiva and Shakti is a great festival of spirituality, introspection, and faith. I pray to Devadhidev Mahadev for the welfare of all, ” he posted on X.

BJP National President and Union Minister J.P. Nadda also extended his best wishes, writing on X, “Hearty congratulations and best wishes to all the countrymen on the holy festival of Maha Shivratri. I pray to the God of Gods, Mahadev, that this great festival brings happiness, prosperity, and health in everyone’s life. May the blessings of Baba Bholenath remain on everyone.”

People across the country are celebrating Maha Shivratri with great devotion and enthusiasm, visiting temples dedicated to Lord Shiva and offering prayers.

Maha Shivratri is widely believed to mark the divine marriage of Lord Shiva and Goddess Parvati. However, scholars argue that there is no mention of this event in ancient scriptures, including the Shiva Purana.

The Shiva Purana states that the Shivling first manifested on the fourteenth day of the Shukla Paksha in the month of Falgun, known as Chaturdashi Tithi. On this day, Lord Vishnu and Lord Brahma worshipped the Shivling, establishing it as a sacred occasion called Shivratri.

Selected Assistant Professors in Punjab continue to protest

FW Desk
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Selected Assistant Professors in Punjab continue to protest

Members of the ‘1158 Assistant Professors and Librarians Front, Punjab’ staged a protest march in SAS Nagar (Mohali) today, demanding the completion of the recruitment process for 1158 posts of assistant professors and librarians in government colleges.  Carrying placards demanding that the government complete the entire recruitment process, the selected Assistant Professors staged a protest asserting that their primary demand was the appointment of the remaining candidates to government colleges to ensure that all the 1158 posts were filled.

Gurlal Mann, himself a selected candidate for Assistant Professor-Punjabi and who is spearheading the stir said that the protest will continue until all the selected candidates are appointed and the recruitment process is completed. He alleged that despite a favourable ruling from Punjab and Haryana High Court allowing the 1,158 recruitments to proceed, the government had delayed the appointments for a long.  The protesters argued that the issue is about recruitment and the survival of government colleges, which have not had regular professor appointments for 25 years.

It may be recalled that in a major relief, the Punjab and Haryana High Court had allowed the recruitment of 1,158 assistant professors and librarians in Punjab while overturning a single bench ruling that had earlier rejected this recruitment of 2021. The Punjab government had challenged this decision in a double bench. During the hearing, the counsel appearing on behalf of the Punjab government had demanded allotment of stations to professors selected during the recruitment of 1,158 assistant professors/librarians.

Congress Leader Sajjan Kumar gets life imprisonment in 1984 Sikh massacre case

FW Desk
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Congress Leader Sajjan Kumar gets life imprisonment in 1984 Sikh massacre case

New Delhi: A trial court on Tuesday sentenced former Congress MP Sajjan Kumar to life imprisonment in a case of murder during the 1984 anti-Sikh riots.

This case is related to the killing of Jaswant Singh and his son Tarundeep Singh in the Saraswati Vihar area on November 1, 1984, during the riots.

The sentencing came amid heated protests by the members of the Sikh community earlier in the day, demanding a death penalty for the former Congress MP.

Describing the 1984 riots, which broke out after the assassination of Prime Minister Indira Gandhi was assassinated by her Sikh bodyguards on October 31, 1984, as one of the “darkest and most shameful” chapters in India’s history, the protesters demanded justice and urged the court to sentence Sajjan Kumar to death.

The Rouse Avenue Court, which had reserved its verdict on January 31, after hearing additional submissions advanced by Public Prosecutor Manish Rawat, had, on February 12, convicted Sajjan Kumar in connection with the killing.

His advocate Anil Sharma had submitted that Sajjan Kumar’s name was not there from the very beginning, and there was a delay of 16 years in naming him as an accused by the witness. It was also submitted that a case in which Sajjan Kumar was convicted by the Delhi High Court is pending an appeal before the Supreme Court.

Special Judge Kaveri Baweja had posted the arguments on the quantum of the sentence for February 18.

The BJP has been constantly demanding the expulsion of Sajjan Kumar from the Congress, calling the party “anti-Sikh” for not taking appropriate action.

BJP leader and Delhi Minister Manjinder Singh Sirsa had also written to the Leader of Opposition (LoP) in the Lok Sabha, Rahul Gandhi, seeking the expulsion of Sajjan Kumar.

Sirsa had asked Gandhi to prove his commitment to justice and communal harmony by issuing “a public apology to the Sikh community and the entire nation for the Congress’ role in sheltering and empowering criminals like Sajjan Kumar.”

HAL and BEML join forces for Leadership and Technical Training

Arun Kumar Rao
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HAL and BEML join forces for Leadership and Technical Training

Bengaluru: In a significant move aimed at bolstering skill development and professional excellence, Hindustan Aeronautics Limited (HAL) and BEML Limited have signed a Memorandum of Understanding (MoU) to collaborate on leadership and technical training programs. The agreement was formalized today in the presence of senior management from both organizations.

Dr. Srikantha Sharma, Executive Director, HAL Management Academy (HMA), and Ms. Monideepa Roy, Head (Talent Management), BEML, signed the MoU, witnessed by Shri A B Pradhan, Director (HR), HAL, Shri Debi Prasad Satpathy, Director (HR), BEML, and Shri M G Balasubrahmanya, Executive Director (HR), HAL. The event was attended by senior officials, underscoring the strategic significance of this collaboration.

Under this partnership, HMA will design and deliver a comprehensive range of training initiatives, including induction programs, middle and senior management training, specialized workshops, and certification programs. Key focus areas will include Six Sigma, Quality, Reliability, Data Analytics, and Industry 4.0, ensuring that professionals remain at the forefront of technological advancements.

Beyond structured training, the MoU will facilitate industrial visits, knowledge-sharing sessions, joint conferences, internships, and project-based learning opportunities, providing BEML professionals with hands-on experience and exposure to cutting-edge industry practices.

Speaking at the event, Shri A B Pradhan emphasized the critical role of continuous learning and capability building in the defence and heavy engineering sectors. Shri Debi Prasad Satpathy echoed these sentiments, highlighting how the partnership will enhance technical expertise and managerial leadership within BEML.

This collaboration marks a significant step toward strengthening industry-academia ties, fortifying India’s defence manufacturing ecosystem, and equipping professionals with advanced skills and knowledge to drive innovation and excellence in the sector.

SIDBI signs MoU with Tata Capital Limited to Strengthen financing avenues for MSMEs

Tanvir Kaur
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SIDBI signs MoU with Tata Capital Limited to Strengthen financing avenues for MSMEs

Mumbai: Small Industries Development Bank of India (SIDBI) and Tata Capital Limited (TCL) signed an MoU for “Partnership for financing MSMEs”. The focus is on growth and development of MSME Ecosystem by way of providing funding avenues in the field of machinery / equipment financing, working capital/CC/OD/business loans, and loan against property, etc.

Further, risk sharing/ co-lending/ joint financing shall also be explored while extending credit facilities to MSMEs. The MoU was signed by Vivek Kumar Malhotra, Chief General Manager, SIDBI and Vivek Chopra, Chief Operating Officer, Retail Finance, TCL in the presence of senior SIDBI and TCL officials.

Eight female members of Kadiyan gang arrested

Parvesh Handa
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Eight female members of Kadiyan gang arrested

Gurugram: Crime Branch of Sector 43 Gurugram police station arrested eight women belonging to the Kadiya gang of Madhya Pradesh for allegedly stealing a lady’s purse from the Sector 14 market here, the police registered a case against arrested females at Sector 12 police station on victim’s complaint on Saturday. Madhya Pradesh’s Kadiya gang is known for its involvement in thefts across several metro cities used to indulge in criminal activities in crowded markets, according to the preliminary police investigation. The victim woman had filed a complaint stating that her purse, which contained money and important documents was stolen during shopping at the Sector 14 market.

The arrested women were identified as Radhika Bhaneriya, Jyoti, Gayatri Bai, Sunita Bai, Ramkali, Juli Bhaneriya, Jivika and Gauri Sisodiya, all residents of Rajgarh district in Madhya Pradesh. Investigation revealed that among women burglars Ramkali was involved in a case registered against her in Madhya Pradesh, whereas Juli Bhaneriya was having a theft case registered against her in Delhi. According to the police information, an FIR was registered at the Sector 14 police station and investigation was handed over to the crime branch of police. During interrogation, the accused women revealed that they had committed two other thefts in Gurugram and Uttar Pradesh. Rs 3,790 in cash has been recovered from their possession, the police added that arrested women have a criminal record which is being investigated, spokesperson of police department said.

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