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New Mahindra Logo To Reflect Global Brand Identity

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Mahindra Group, one of the country’s leading business houses welcomed the new year with a fresh new visual identity, a new logo, which will be reflected across all its businesses globally.

“The Mahindra Group has grown exponentially over the past decade, with businesses covering a wide range of industries. Hence, we felt the need to refresh our visual identity to better reflect a Mahindra that has evolved over the years and is ready to take on future challenges. Continuity and change have both been integral parts of Mahindra’s growth story. Continuity has given us strength, stability and roots, while our desire for change has driven our growth and enabled us to thrive. Our new word mark clearly reflects both these attributes and is in sync with our Group aspiration which is to become one of the top 50 most admired global brands within a decade.” said Anand Mahindra, Chairman, Mahindra Group, while commenting on the new brand identity.

AMFI Waives Off Registration Fee For New Distributors
AMFI (Association of Mutual Funds in India) has decided to waive registration fees for all registrations of first time distributors for a period of five months from February 01, 2013 to June 30, 2013.  This initiative is largely with the intention of enlarging the distribution network and attracting new cadre of distributors/IFAs (Independent Financial Advisors) for selling mutual fund products.

The distributors registering under the category of Individuals (including senior citizens) and new cadre of distributors, need not pay the registration fees if they register during the same period subject to fulfilling the some conditions.

The Securities & Exchange Board of India (Sebi) has, through their circular in September 2012, introduced a new cadre of distributors who have been allowed to sell units of simple and performing Mutual Fund Schemes to increase the strength of Mutual Funds distribution network.

Magma PAT Up 174%
Magma Fincorp announced its third quarter results on 17 January. The disbursements increased 20 per cent to Rs 2,302 crore while revenue increased 60 per cent to Rs 445.5 crore. The profit before tax and profit after tax surged to Rs 56.4 crore and Rs 38.1 crore, respectively, an increase of 174 per cent over the corresponding period last year. Similarly, the AUM as on December 31, 2012 was Rs 16012 crore up 35 per cent over the same period last year.

Magma's existing policy of writing-off non-performing assets (NPAs) at 180 DPD (Days Past Due), will now recognise NPAs at 120 DPD and in addition will also increase the provisions on standard assets from the existing 0.25 per cent to 0.30 per cent.

Educational Seminar for Indian Travel Trade
The first ever Destination America and Visa educational seminar organised by Visit USA Committee (VUSACOM) Delhi Chapter, supported by the US Commercial Service in India, ended on 10th January 2013 in New Delhi. The seminar was attended by over 130 travel agents and tour operators; several senior staff from the US Embassy, and  heads of major associations like TAAI, SFTO and OTOAI .

The main objective of the seminar  was to  educate travel agents on the range of holiday options available in the US. The participants  present at the seminar were - Philadelphia Convention & Visitors Bureau, Princess Cruises, Las Vegas Convention & Visitors Authority, Visit California, San Francisco Travel Association San Francisco International Airport, Visit Orlando,  Choice Hotels and Fairmont Raffles Hotels International. Josh Glazeroff, Counsul General from the US Visa Section, Embassy of the United States in India addressed the audience on new visa procedures for the US.

Winter Gifts Promotion Campaign for Indian Facebook Fans
Japan National Tourism Organisation (JNTO) has announced the launch of its "Winters Gifts Promotion" campaign for its' Indian Facebook page fans. The campaign is open to Facebook Page users in India from December 22, 2012 - February 28, 2013. To take part in the contest, the participants will have to answer to a set of six questions (four quiz questions) after registering themselves at the "Visit Japan from India" Facebook Page.

At the end of the campaign, the winners will win a prize from a choice of seven souvenirs which includes Evangelion Figure, a famous Japanese Manga character; a Fortune Cat; 2 Thermos Handy Bottles; 5 Shinkansen's mug cups, 5 mouse pads with Japanese scenery; 5 traditional toys "Akabeko" from Fukushima Prefecture and 5 iPhone Pouches made from Japanese traditional beautiful texture.