PM narrows down on small sector December 9, 2008
Posted by dhirendra1972 in Business, Capital Market, Domestic Brand, Domestic Equity Market, Equity, Equity Market, Finance, Financial Capital, financial market, Indian Business, Online Marketing, Working Capital.Tags: Indian Business, Marketing, money market, small sector, small sector in indian market
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Good Evening friends, PM of Indian Dr. Manmohan Singh is takeing care of small and medium enterprises. I read following news at yahoo site. In a move aimed at further boosting the micro, small and medium enterprises (MSME) sector, Prime Minister Manmohan Singh is understood to have asked a high-level committee headed by the cabinet secretary K M Chandrasekhar to look into the issues plaguing the sector and submit its report within a fortnight.
The move comes a day after the government announced a package to stimulate the economy. The package, however, has failed to enthuse its entrepreneurs. All India Confederation of Small & Micro Industries Association president Sudarshan Sareen said, “The RBI’s Rs 7,000-crore credit refinancing is too less. At least Rs 10,000 crore should be made available for rehabilitation of sick industries and another Rs 10,000 crore for marketing development fund.” A delegation of the association, which met the Prime Minister today, sought adequate support from the government.
MSME secretary Dinesh Rai told The Indian Express that the memorandum submitted to the PM included speedy formation of a special fund for enterprises in the unorganised sector and an enhancement of cash-credit limits/ over draft facilities by at least 15 per cent. Besides seeking extension of time period for reckoning MSE accounts as NPAs from 90 to 180 days.
Rupee falls by 25 paise to hit fresh low of 50.53 December 2, 2008
Posted by dhirendra1972 in Asian Markets, Capital Outflow, Domestic Equity Market, Interbank Foreign Exchange, Trade, Us Currency.Tags: Currency, Dealer, Market, Rupee, Stock Market
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Good morning friends. The rupee today fell by 25 paise against the US dollar to a fresh low of 50.53/54 in the opening trade at the Interbank Foreign Exchange market on increased demand for the greenback amid melting stock markets.
Dealers said increased demand for the US currency and expectation of further fall in domestic equity markets after the overnight heavy losses in the US stocks weighed on the rupee sentiments.
In New York, the Dow Jones Industrial Average plunged 7.70 per cent to close at 8,149.09 points.
Asian markets, following the US stocks, fell in range of 2-5 per cent in the early trade today, raising fears of capital outflows from the domestic market, dealers added.
Yesterday, the rupee had closed lower by 21 paise at 50.28/29 against the US dollar.
