Industry News
Draft Microfinance Bill gives RBI total control
The Finance Ministry has formulated a new proposal which lays out the rules and regulations concerning India’s Microfinance industry. The Draft Microfinance Bill 2011, aims to protect the country’s microfinance borrowers, and bestows the RBI with total jurisdiction and control to regulate and oversee the working of the entire microfinance industry. The draft bill was [...]
World’s longest bridge in China might not be safe
According to reports, questions have been raised over the safety of the world’s longest sea bridge – constructed at a sot of USD 1.5 billion, 26.4 miles long – that stretches across the waters of Jiaozhou Bay, connecting the thriving northern port city of Qingdao with an airport built on a nearby island and the [...]
Railways order high-level inquiry into UP mishap
Indian Railway Ministry officials have ordered an intensive probe into the terrible train accident in Uttar Pradesh, which claimed the lives of 33 people and left 17 seriously injured. The inquiry will be conducted by the Rail Safety commissioner and would examine the cause of the accident. The accident took place when a train collided [...]
Indian Stock Market trading rangebound Jul-08-2011 13:27
The domestic bourses were seen trading in a narrow range in the negative terrain after recovering from the morning slump. Banking heavyweight SBI, which gained more than 1%, has led the pullback. Further, the strength in the Realty space also gave good support to the market. However, the weakness among the Metal stocks continued to [...]
Indian Stock Market Mid Session Jul-08-2011 12:40
The market was still trading in negative terrain but benchmark indices tried to rebound as Nifty and Sensex again crossed 5,700 and 19,000 levels respectively before touching the day’s low. The Metal index major spoilsport as it faced hefty sell-offs after the Group of Ministers approved Draft Mines & Minerals Development & Regulation Bill on [...]
Garments export dropped 3% in Nov 2010
India garment industry registered a year-on-year decline of 3% to $716 million in November, 2010, on the back of increasing input cost and decrease in demand from the west. However, prior to November the garment industry has posted positive growth for consecutive three months. According to the data released by Apparel Export Promotion Council (AEPC) [...]