THE country’s foreign exchange reserves surged by a massive USD 6.47 billion to touch an all-time high of USD 513.25 billion in the week ended July 3, the latest data from the Reserve Bank of India (RBI) showed. In the previous week ended Jun 26, the reserves had increased by USD 1.27 billion to USD 506.84 billion. The reserves had crossed the half-a-trillion dollar mark for the first time in the week ended June 5 after it had increased USD 8.22 billion and reached USD 501.70 ..

  HYDERABAD-BASED Gland Pharma has filed preliminary papers with markets regulator Sebi for an initial public offer that includes fresh issue of shares worth up to Rs 1,250 crore.Apart from the fresh issue, there is an Offer for Sale (OFS) of a little over 3.4 crore shares as part of the initial public offering (IPO). The company, backed by China’s Fosun Pharma, has filed a Draft Red Herring Prospectus (DRHP) with Sebi. It develops, manufactures and markets complex injectables.The ..

  SUGAR firm Balrampur Chini Ltd has proposed to buy back up to 1 crore shares of the company from eligible shareholders for an amount not exceeding Rs 180 crore. The company, in a regulatory filing, informed that the buyback offer will open on July 20 and end on July 31.It has offered to “buyback up to one crore fully paid-up equity shares of face value of Rs 1 each, representing 4.55 per cent of the issued, subscribed and paid-up equity shares of the company, from all eligible shareholder..

A delegation of Nag Vidarbha Chamber of Commerce (NVCC) led by Ashwin Mehadia, President met Ram Joshi, Additional Commissioner of NMC and requested him to grant permission to reopen restaurants and eateries in city. Mehadia said, for the last four months restaurants and eateries are closed. The Government has given permission to all other traders to open during unlock phase-1 and 2. “Restaurants and eateries should also be given permission to reopen on the same lines,” He said...

Considering the shortage of blood in various blood banks especially during the ongoing period of lockdown, Gaysons conducted a blood donation camp at its shop located in Sitabuldi. The objective behind the event was to help those who are in need of blood. All the staff members and owners of Gaysons took part in the event and donated blood. The camp was organised as per the request of Dr Ashish Khandelwal of GVK Blood Bank, says a press release...

The odd-even formula introduced by the State Government for opening shops of non-essential items should be discontinued as it is creating a lot of confusion in the minds of customers, traders demanded. With the odd-even rule in practice most customers are not even aware on which days the shops are open in a particular market. It becomes a waste of time and money for the customers if they go to a particular shop and find it closed on that d..

PRIME Minister of India Narendra Modi while outlining his vision for an ‘Aatma Nirbhar Bharat Abhiyan’ (self-reliant India) is confident that India would get its growth back very soon from this COVID-19 pandemic. Today, Indian MSMEs are well equipped to produce components as per international standards and can be a great substitute for the import materials/ components required for large companies. More and more global players are looking for sourcing of engin..

The coronavirus pandemic-induced nationwide lockdown is expected to squeeze automotive aftermarket spending by 11 per cent this fiscal, a report has said. Based on the analysis of 75 mega districts in the country, which account for 43 per cent of the segment’s total revenue, Crisil Research expects the annual running of vehicles (in kilometres) to decline, with three-wheelers likely to see the highest decline of 22 per cent and passenger vehicles and tractors seeing the lowest decline of 4 per cent ..

The International Interdisciplinary E-Conference on ‘Computer, Technology, Commerce & Management Studies (IICCTCMS) 2020’ will be on July 10 and 11. The conference is jointly organised by P G Department of Computer Science SNDT Women’s University, Mumbai in association with Aakar Bahuudeshiya GraminVikas Sanstha’s Aakar College of Management for Women, Nagpur and Aakar Institute of Management and Research Studies, Nagpur...

THE Institute of Company Secretaries of India (ICSI) has been working on developing Model Governance Codes for various entities in the country. Aligning to this momentum the ICSI recently organised a webinar on the theme ‘Governance–from grass root to global’. Speaker of the Loksabha Om Birla was the chief guest at the webinar...

IN Order to restart dine-in restaurants in the city which are closed due to lockdown imposed by the Government to contain the spread of coronavirus, Swapnil Ahirkar, President of NCP Business Cell, Nagpur and Amit Dongre met Ram Joshi, Additional Municipal Commissioner, Nagpur. On the occasion, a representation was handed over to Joshi. In the meeting, Ahirkar appraised the Commissioner about the various problems the dine in restaurants were facing...

TiE Nagpur under the ‘Impact Speaker Series’ will be organising a webinar for established entrepreneurs, startup owners, professionals and emerging enthusiastic entrepreneurs. The webinar ‘Ask Me Anything with Jayesh Parekh’ (Investor Perspective: Building Successful Ventures) will be held on July 11, from 2 pm to 3 pm. Keynote speaker and panelist will be Jayesh Parekh, Co-Founder of Sony Entertainment Television and Senior Advisor, Jungle Venture, Singapore. He is an angel investor and VC and has ..

HYPNOSIS is a human condition involving focused attention, reduced peripheral awareness and enhanced capacity in response to suggestions. It is a one-way state of relaxation, confusion or concentration in which the conscious mind becomes remote or detached from every day concerns in the relaxed state of the unconcerned part of the mind that will be able to respond creatively to suggestions. There are sessions on various topics on Yutube channel by Dr Vinod Mune. All types of psychological and psychosomatic ..

UNION Government under the leadership of Prime Minister Narendra Modi, is working for economic development of the country. The results of right decision taken by Government during Coronavirus pandemic will be seen soon, said Nitin Gadkari, Union Minister for Roadways, Shipping and MSME. Gadkari while addressing a video conference organised by Indian Business and Professional Council. He said, “For economic development g..

THE Bharatiya Janata Party (BJP) has announced its State executive committee, which has appointed CA Milind Kanade, an economist who has been implementing various concepts in the field of entrepreneurship, as the Chairman of the party’s Economic Front. He is the son of Prof. Sharad Chandra Kanade and Indumati Kanade. Milind Kanade, is influenced by the ideas of the Rashtriya Swayamsevak Sangh...

MAHESH Vazirani, MD Shree Heera Sweets and one of the top sweets manufacturers of the city, was awarded by JCI Nagpur Pharma as JCI Business Icon Award 2020 for his out standing service in food processing industry for continued services ..

INTERNATIONAL Arbiter of Nagpur Swapnil Bansod added another feather to his cap after he was upgraded to Category A Arbiter by International Chess Federation (FIDE). Bansod, who is 3rd International Arbiter from Nagpur, became the youngest arbiter to get the Category A status in India. The status upgradation was done during the 2nd FIDE Online Council Meeting 2020. Bansod is first International Arbiter from entire Vidarbha to achieve this prestigious cadre...

TAPARIA Tools has launched ‘Grease Gun Barrel’. The powder coated blue colour body with smooth, glossy finish and bright Ni-Cr plated plungers gives it a sturdy and powerful look. The Grease Gun Barrel is made from high quality steel sheets of 1.2 mm thickness and the gun head is made from aluminium die casting/cast iron for better life...

NAG Vidarbha Chamber of Commerce (NVCC) has appealed to Maharashtra Energy Minister and Guardian Minister of Nagpur Dr Nitin Raut to give concession in electricity bills generated during the lockdown period. In a memorandum submitted to Dr Raut, Ashwin Mehadia, President of Nag Vidarbha Chamber of Commerce said, “Concession in electric bills should be given during the lockdown period for the months of March, April and May.”..

The opening up of India’s economy post lockdown and implementation of the economic package unveiled by the Government have started showing results on the ground with initial signs of improvement in the performance of businesses now visible, says a survey. The Ficci-Dhruva Advisors industry survey was conducted in June 2020 and saw participation of over 100 top corporate executives (CxOs) from across sectors. “While the green shoots of recovery are being seen, it is important to emphasise that sustaining ..

THE all new Toyota Vellfire was unveiled at Patni Toyota on Sunday by the hands of Nilesh Agarwal, Vishal Agarwal and Vaibhav Agarwal of R C Plasto and Shashikant Sharma. Also present on the occasion were Naresh Patni, Umesh Patni, Madhur Mohta and Yash Patni. The Japanese automotive manufacturer Toyota launched its latest luxury MPV (multi-purpose vehicle) Vellfire in India...

BHARATIYA Mazdoor Sangh (BMS) has started help desk at district level to help workers for getting the work. In a press release, BMS has appealed the employers and workers to contact their district presidents and secretary for required man power and work. BMS one of the leading workers unions of the country was on its toes during the lockdown period and rendered all possible help to the daily wage earners. It provided essential commodities, food, help migrant workers etc...

On the occasion of National Doctor’s Day, JCI Nagpur felicitated city’s renowned doctors Dr Pradeep Mishra, Dr Aziz Khan, Dr Sunil Gupta, Dr Mohammad Asif Qureshi andi Dr Sameer Choubey. Javed Khan Rana, JCI India’s National Trainer, felicitated the doctors for their selfless service during COVID-19 outbreak. Dr Pradeep Mishra is an intensivist and critical care physician...

GAYSONS, Nagpur’s favourite shopping destination has started operating its store on all odd dates (1-3-5-7 etc.) and is taking all necessary precautions for the safety of its customers. The store is been completely sanitised on a regular basis and mask and temperature check measures are being followed with utmost care. Gaysons has launched its ‘Unlock Happiness Sale’ to drive away patrons lockdown blues. ..

HYGIENE and frequent hand washing are extremely important to prevent COVID-19, which is currently spreading rapidly around the world...

‘The Summer House Pachmarhi – AM Hotel Kollection’ located at Pachmarhi, Madhya Pradesh has opened. This season, The Summer House will be operating in a more intimate setting to ensure safety at all times. “Our team will keep you up to date on the safety protocol from the time you will come in contact with any of our host team members. You may also follow us on website or social media to see the upgraded service levels. We have missed serving you in the past few months and are looking forward to welcoming ..

INDIAN banks may continue to face heightened asset quality and earning pressure for at least two years, as disruption to business activity and supply chains and shrinking personal incomes damage banks’ balance sheets, according to a report by Fitch Ratings...

THE RBI has asked banks, financial institutions and NBFCs to reclassify micro, small and medium enterprises on the basis of the new criteria. Last month, the government notified new criteria for classification of micro, small and medium enterprises (MSMEs) on the basis of turnover and investment in plant and machinery. “We advise you to initiate necessary action for reclassification of enterprises as per the new definition w.e.f July 1, 2020 and issue necessary instructions to your branches/controlling ..

TRADERS body CAIT on Wednesday suggested a host of measures, like technical audits and waiver of late fees, to broaden the Goods and Services Tax (GST) base and make the taxation system simple. The Confederation of All India Traders (CAIT) has made the suggestions to Finance Minister Nirmala Sitharaman as the GST regime completes three years of implementation. “The debut of GST in 2017 was a big reform. It was introduced/ implemented with an aim of one nation one tax and with a view of removing the ..

EXPORTERS’ body FIEO on Wednesday demanded fast resolution of issues related to ‘risky exporters’ and immediate release of their refunds to help them tide over the problems arising due to COVID-19 pandemic. The Federation of Indian Export Organisations (FIEO) said that during the current crisis, exporters are already facing problems and the matter of risky exporters is further adding to their woes. An exporter is tagged as risky if the customs department suspects that duty drawback claims and IGST ..

THE current pandemic situation has shaken the whole world, right from social activities to lifestyle all has changed. But with the beginning of unlocking and some relaxation in lockdown, life is coming to normal. Real estate, architectural practice or interior design practice, which are interrelated and affected equally by COVID-19, are also gaining momentum now. “The one with great patience and one who will survive even without any work will be the player in the longer run...

The Nag Vidarbha Chamber of Commerce (NVCC), an apex body of 13 lakh traders of Vidarbha, recently performed ‘Shir Vishnu Narayan Yagya’ (havan) at its premises in Civil Lines. Ashwin Agrawal, President of the chamber along with his wife performed the puja. Mayor Sandeep Joshi was present at the concluding of the Havan and he also performed the Mahaaarti...

Apparel exporters body AEPC on Tuesday urged the Government to raise MSME's outstanding loan limit to Rs 100 crore from Rs 25 crore at present for being eligible for ECLGS with a view to help the sector. Apparel Export Promotion Council (AEPC) Chairman A Sakthivel also requested the government to make necessary amendments in the eligibility criteria for ECLGS based on the new definition of MSMEs so as to extend the credit benefit to all MSME exporters regardless of their turnover. “Borrowers with ..

Intensifying its national movement against Chinese goods, the Confederation of All India Traders (CAIT) on Monday demanded Union Commerce Minister Piyush Goyal that all products sold in India through e-commerce or off-line shops or by any other method should mandatory have ‘Country of Origin’ mentioned on the products. It is worthwhile to mention that accepting an earlier demand of the CAIT, the Union Government had declared to have mandatory inscription of all goods that are to be sold on Government ..

VIMS Hospital celebrated its 3rd anniversary on June 25. On the occasion, a yoga camp was organised and important information about yoga was given by Sushma Chaudhary. VIMS Hospital is a 100 bedded multi-super speciality hospital situated in the city. It is facilitated to deal with all medical as well as surgical cases. The hospital is serving the community with better healthcare services from last 3 years. VIMS Hospital has well equipped NICU, Cardiac unit, ICU and Gastroenterology de..