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reserves reach record USD 42,198 million mark MUMBAI, Mar 24: India’s foreign currency reserves continue to climb record levels at USD 42,198.....more New handicrafts JAIPUR, Mar 24: A new national cluster based handicraft sector development scheme "Baba Saheb Ambedkar.....more |
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Shoe giant
miffed over animal treatment in India, cuts deal WASHINGTON, Mar 24: Footwear giant Floresheim Group has ended its leather contract with India...more Govt finalises spectrum NEW DELHI, Mar 24: Government today finalised the procedure for allocation of spectrum to the....more |
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Foreign
currency reserves reach record MUMBAI, Mar 24: India’s foreign currency reserves continue to climb record levels at USD 42,198 million with further foreign institutional inflows for the week ended March 16. In the previous week, the foreign currency reserves had crossed USD 42 billion mark. The foreign currency assets increased by USD 146 million to USD 39,486 million in the reporting week, Reserve Bank of India’s weekly statistical supplement said. The gold reserves and Special Drawing Rights (SDRs) stood unchanged at USD 2,711 million and USD one million respectively, it said. RBI’s loans and advances to the Central Government rose by Rs 2,049 crore to Rs 5,688 crore, while that to the State Governments declined by Rs 882 crore to Rs 7,419 crore. In the case of scheduled commercial banks the aggregate deposits for the fortnight ended March nine, went up by Rs 5,208 crore (0.6 per cent) to Rs 9,51,054 crore, RBI said. Bank credit for the same fortnight was Rs 5,04,945 crore, up by Rs 324 crore (0.1 per cent). The food credit and non-food credit increased by Rs 317 crore and Rs seven crore to Rs 39,928 crore and Rs 4,65,017 crore respectively, RBI added. (PTI) |
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New handicrafts scheme launched JAIPUR, Mar 24: A new national cluster based handicraft sector development scheme "Baba Saheb Ambedkar Hastshilp Vikas Yojana" was launched here by Union Textile Minister Kashiram Rana. After launching the scheme at a workshop "on hand block printed textile clusters of India" yesterday, while talking to mediapersons Mr Rana said that the scheme would be effectively introduced in rest of the country within next few months. Initially under the scheme, Rs 10 crore would be spent at the 100 selected clusters of the handicrafts artisans for offering them facilities and guidance for making better and the competitive handicrafts goods across the country, Mr Rana added. The handicrafts, being the state subject, the various State Governments should take keen interest in successful implementation of the programme the Minister said adding that the funding under the scheme would not be any problem. The success of the scheme totally depended on the response from the State Governments, he added. Mr Rana lamented that only a few states had responded to the Rs 700 crore worth Deen Dayal Handloom Development Scheme launched by the Centre earlier. The handicrafts production was the only sector wherein with the lowest investment the highest output could be achieved besides giving employment to a large number of people and also earning a foreign exchange, he maintained. (UNI) |
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Shoe giant miffed over animal treatment in India, cuts deal WASHINGTON, Mar 24: Footwear giant Floresheim Group has ended its leather contract with India, warning that it would not renew the purchase deal unless the Government takes measures to improve treatment of animals. "Treat the animals properly or we won’t buy your leather any more," it said in a letter to Minister of Commerce and Industry Murasoli Maran. "Floresheim joins other international retailers, including Gap, J Crew, Clarks and Liz Claiborne, in ending its contract for Indian leather goods after finding the treatment of animals as documented by People for Ethical Treatment of Animals (PETA) to be totally unacceptable and not in keeping with the image or standards of our company," a PETA release quoting the letter said. Floresheim, whose shoes are assembled in India through a joint venture with Kar group, said leather purchase could be resumed but only if PETA’s request for "improvement in animal handling" is met. Unrest over alleged "cattle cruelty in India is growing both within and outside the country," PETA said. Last week, Teja Industries, a leather exporter, advised its buyers to stop purchasing skins from Deonar, a Municipal Corporation-owned abattoir in Mumbai, the release said. In a letter to Mumbai Counicipal Commissioner the company said that "as a major player in the international market, Teja cannot condone unnecessary cruelty and illegal animal abuse," PETA said. (PTI) |
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Govt finalises spectrum allocation norms NEW DELHI, Mar 24: Government today finalised the procedure for allocation of spectrum to the basic telecom service providers on first-come-first-served basis, reserving spectrum to the extent of 5 mhz for installation of network. According to the procedure, on installation of Point of Presence (POP) in the local call area Short Distance Charging Area (SDCA), spectrum to the extent of 2.5 mhz plus 2.5 mhz in specific bands would be allocated resulting in cost-effective solutions, an official release said here. "Subsequent allocation of spectrum upto 5 mhz has been linked to roll-out obligations in terms of setting up of pops in various SDCA," the statement said. This is, however, subject to the outcome of the petition filed by the Cellular Association of India (COAI) before the Telecom Appelatte Tribunal challenging Government’s decision to allow limited mobility to basic operators. The procedure also laid down a spectrum allocation of not more than 10 mhz (5 mhz plus 5 mhz) in specific bands or 5 mhz for another band for micro cellular architecture base systems for basic service operators. "In case of Delhi, which is also a service area, spectrum allocation has been linked to the subscriber base roll out," it said, adding that the allocation of spectrum linked with roll out would result in faster roll out of network by the basic service operators with cost-effective solutions. The existing operators who have been permitted to use spectrum in handheld sets in the Wireless in Local Loop (WLL) system have also been brought into this regime. "The licensees not able to meet their roll-out obligations for any of the first three phases as stipulated in the guidelines for grant of licence for basic service shall forfeit their right to use the spectrum. This is irrespective of any other action that may be taken by the licensor," the statement said. Any spectrum already allocated or allocated as per the latest procedure and not effectively used shall stand withdrawn after expiry of one year from the date of allocation and without further reference to the allottee, would be allocated to other users. (PTI) |
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