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| Citizens Bank holds customers meet Excelsior Correspondent JAMMU, May 29: The Citizens Cooperative Bank Jammu today organised a Customers meet at its Extension Counter, Talab Tillo Jammu.........more Auto
industry in reverse NEW DELHI, May 29: Car sales fell by 14.8 per cent during April, 2001, as all the major companies including Maruti, Hyundai, Daewoo and Telco....more Gold
declines further NEW DELHI, May 29: Gold prices declined further on the bullion market today on reduced offtake in view of any worthwhile support factor and closed.......more Govt offers set of proposals for solving DPC-MSEB crisis MUMBAI, May 29: The Union Government today offered a set of proposals for solving the ongoing dispute......more |
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Valvoline Cummins Ltd launches TC Genuine oil Excelsior Correspondent JAMMU, May 29: Valvoline Cummins Limited launched "TC Genuine Oil" used in the automobiles at a simple function organised by the company executives at Narwal here today. ......more NIFT
professionals are KOLKATA, May 29: At National Institute of Fashion Technology (NIFT) professionals are made who prove to be assets.......more RBI
informs police about KOLKATA, May 29: The Reserve Bank of India (RBI) has sought the help of the police to crack down on unincorporated bodies.......more TDP
Govt seeks VISAKHAPATNAM, May 29: Facing a staggering debt burden of over Rs 32,000 crore, the TDP Government in Andhra Pradesh today ......more |
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Auto industry in reverse gear in April 2001 NEW DELHI, May 29: Car sales fell by 14.8 per cent during April, 2001, as all the major companies including Maruti, Hyundai, Daewoo and Telco posted negative growth in sales. Total sales stood at 45,550 units over 53,499 units sold in the same month last year, figures released by the Society of Indian Automobile Manufacturers (SIAM) showed today. Recessionary trend continued for other sectors of the domestic automobile industry with commercial vehicles, two-wheelers, Multi-Utility-Vehicles (MUVs) and three-wheelers recording dip in sales during the month under review. Market leader Maruti Udyog’s car sales fell by 11.9 per cent at 26,443 units over 30,016 units sold in April, 2000. Sales of commercial vehicles, a good indicator of economic growth, declined by 8.4 per cent at 7,925 units as compared to 8,658 units in the month-on-month period. MUV sales stood at 7,842 units, down 5.5 per cent, over 8,299 units sold in April, 2000. Two-wheelers sales dipped by 6.4 per cent on account of a drop in scooter and mopeds sales. Sales of scooters dipped by 20 per cent at 75,694 units month-on-month over 94,547 units, while mopeds sales fell by 50.2 per cent at 28,151 units in April, 2001, over 56,604 units in the same month of 2000. Motorcycles sales however, increased by 16.2 per cent at 1.92 lakh units over 1.65 lakh units sold in the month-on-month period. Sales of three-wheelers went down by 11.6 per cent at 12,365 units in April, 2001, over 14,002 units sold last year. (PTI) |
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Gold declines further on lack of support NEW DELHI, May 29: Gold prices declined further on the bullion market today on reduced offtake in view of any worthwhile support factor and closed with notable losses. On the other hand, silver recovered moderate ground on retail customers buying. Marketmen said gold prices declined in the absence of any market moving news along with off-marriage and festival season. They said yellow metal appears to be lagging behind oil futures and stocks following the recent series of interest rate cuts in U.S. Standard gold and ornaments lost Rs.30 each at Rs.4500 and Rs.4350 per ten gram respectively. Sovereign also tumble by Rs.25 at Rs.3800 per piece of eight gram. Silver ready gained Rs.5 at Rs.7530 per kilo and weekly based delivery by Rs.10 at Rs.7535 per kilo. Silver coins held unchanged at Rs.11,000/11,200 per 100 pieces. The following were today’s quotations: Silver ready 7530 and delivery 7535. Silver coins buyer 11,000 and seller 11,200. Standard gold 4500, ornaments 4350 and sovereign 3800. (PTI) |
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Govt offers set of proposals for solving DPC-MSEB crisis MUMBAI, May 29: The Union Government today offered a set of proposals for solving the ongoing dispute between Enron’s Dabhol Power Company (DPC) and Maharashtra State Electricity Board (MSEB). The offer was made at the second meeting of the renegotiating committee, headed by Madhav Dodbole, held here today to resolve the crisis over the DPC-MSEB dispute. Godbole later told reporters that the meeting was ‘positive’ and the committee discussed and tried to know the position of the two sides. However, he declined to reveal the set of proposals put forth by the Centre for resolving the issue. ‘Centre’s representative A V Gokak told Enron India Managing Director K Wade Cline that National Thermal Power Corporation (NTPC) will not be able to buy power from DPC’, an official who attended the meeting told PTI. Asked whether DPC had made any reference to a 10 per cent cut in its tariff, Godbole said ‘it was too early for any comment on specifics of the discussions’. Gokak, former Telecom Secretary, said the Union Government was quite keen on resolving the matter and ‘will definitely play an active role’ in the entire process. ‘In the second round of our meeting, our discussions were good and the dialogue will continue. However, the next date of the meeting will be fixed later’, State Energy Secretary V M Lal said. Wade cline too echoed the sentiment and said ‘we discussed a variety of issues’. Asked if DPC had agreed for a possible 10 per cent tariff cut, Cline said ‘no proposal has been submitted before the committee and discussions were on’. Lal said the committee discussed all issues which ‘were hindering the progress of the project’. However, he refused to divulge further details of the discussions, saying ‘it has been made clear time and again that renegotiations cannot be done through the media’. The DPC delegation included president Neil McGregor, Vice Presidents Sanjeev Khandekar and Mukesh Tyagi and chief Financial Officer Mohan Gurunath and Bechtel India Managing Director Feroze Nagarwala. The other committee members who attended the meeting were MSEB chief Vinay Bansal, HDFC Chairman Deepak Parekh, and State Principal Finance Secretary S K Srivastava. (PTI) |
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Valvoline Cummins Ltd launches TC Genuine oil Excelsior Correspondent JAMMU, May 29: Valvoline Cummins Limited launched "TC Genuine Oil" used in the automobiles at a simple function organised by the company executives at Narwal here today. Regional Manager of the company Mr Sandeep Kalia disclosed that the Company with its origin in United States stormed the Indian market in 1996 and now made inroads to J&K state. He said the engine oil is available in various packs of different capacity. He disclosed that M/S Subash Chander Ashok Kumar Popli are the distributors for Jammu and the oil will be available to the users through various outlets in Jammu and other parts of the state. He sought the cooperation of mechanics present on the occasion and hoped with their cooperation the product will be made popular among the operators and drivers of various vehicles. The chief executive, Mr Navneet Gupta who briefed the mechanics and others present on the occasion said that the product was one of the best and economic as compared to other rival products. He spoke on its qualities and told that Turbo Charger Genuine Oil will be made available in one liter, 16 ltrs, 50 ltrs and 210 ltrs packings. The company which is 174 years old and first in the world in the line is manufacturing different type and the best lubricants. The company executives had a brief interaction with the mechanics present at the launching function. Mr Subash Popli, distributor extended thanks to the company officials and other invitees. He sought the cooperation of mechanics for popularising this product. |
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NIFT professionals are made who prove to be assets: Heena KOLKATA, May 29: At National Institute of Fashion Technology (NIFT) professionals are made who prove to be assets in the industry, Ms Heena Gorsia, member board of directors, has said. Speaking at the leather apparals design technology graduate show here yesterday, Ms Gorsia said that the show was to showcase their design collection as they were at the threshold of entering into the professional world. Chief guest of the ceremony, Md Salim said the NIFT embodied a creative mind and body. He said the fresh blood from the institute could infuse new strength into the ailing culture of the artisans. The students gave a splendid display of garments, apparels and goods using traditional leather and mixing it with jute, wool, chiffon, linen silk and other items. Ms Smita Roy, Ms Shalini Verma and Ms Amardeep Bawa gave a new dimensions to their product ranges, not JSO expensive aiming at the mass with a class. However, it was Mr Sekhar Chatterjee who stole the show bagging two awards in different catagories. Other award winners were Ms Puja Puri and Ms Kanika Sood. (UNI) |
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RBI informs police about unincorporated bodies seeking funds KOLKATA, May 29: The Reserve Bank of India (RBI) has sought the help of the police to crack down on unincorporated bodies seeking deposits from the public through newspaper advertisements. A number of companies, which were not registered with the registrar of companies, had been inviting deposits from the public with an assurance of guaranteed returns, RBI sources told PTI. Unregistered bodies were not allowed to invite deposits and the process was "absolutely illegal", the sources said and RBI has drawn up a list of such companies in Kolkata. The central office of RBI, located in Mumbai, had been already informed, sources said, and the apex bank would shortly come out with a series of advertisements to make the public aware about the risks involved in parking funds with such companies. RBI had also informed the State Government about the matter. The police, in a written communication, however, informed RBI that they could take action only when there was a concrete evidence of cheating, otherwise, they would not be able to take any preventive action. RBI sources said that the Calcutta Stock Exchange (CSE) had been also intimated about the issue. The cse authorities, however, stated that since bodies were not members of the bourse, no action could be taken against them. RBI is making all efforts to stop this menace. Recently, the apex bank had informed the stock market regulator, Securities & Exchange Board of India (SEBI), they said. (PTI) |
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TDP Govt seeks weiver of central loans VISAKHAPATNAM, May 29: Facing a staggering debt burden of over Rs 32,000 crore, the TDP Government in Andhra Pradesh today sought waiver of loans it had borrowed from the Centre. The demand, contained in a resolution on Centre-State relations adopted at TDP’s annual conference ‘Mahanadu’ here, assumes significance as the regional party is a key outside supporter of the NDA Government at the Centre. ‘The central loans should be waived as they constitute a major chunk of the total debts of the State Government’, the resolution, moved by the party’s Rajya Sabha member C Ramachandraiah, said. Official sources said that out of the total debt, the central loans account for Rs 19,829 crores as on March 31 last. It is estimated that the total debt would touch Rs 40,857 crores by the end of the current financial year while the central loan component might go up to Rs 24,671 crores. TDP, a strong votary of fiscal autonomy for states, also wanted the Centre to allow State Governments to directly borrow from the external lending agencies. The issue of greater fiscal autonomy has assumed a sense of urgency now as the main responsibility of carrying forward the second generation reforms rests with State Governments, the resolution said. (PTI) |
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