Bussiness

PNB Housing Fin to seek shareholders nod to raise up to Rs 45,000 crore

 PNB Housing Finance said it will seek shareholders approval next month to raise up to Rs 45,000 crore through debt securities. The company’s annual general meeting is scheduled to take place on August 5, 2020. Shareholders are being requested to authorise the board of directors to offer, from time to time, the subscription of redeemable, secured/unsecured non-convertible debentures (NCDs) aggregating up to Rs 45,000 crore in one or more tranches, PNB Housing Finance said in a regulatory ..

Forex reserves hit fresh all-time high, touch USD 513.25 bn

   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 ..

Canara Bank plans to raise up to Rs 8,000 cr

   CANARA Bank on Saturday said its board has approved raising up to Rs 8,000 crore in the current financial year, and over half of this would be raised by issuing equity shares. In an update on the outcome of the board meeting held on July 10 about ‘Capital Raising Plan for 2020-21’, Canara Bank said the board has approved raising equity share capital amounting up to Rs 5,000 crore through various means. The equity capital would be raised by way of qualified institutional ..

Gland Pharma files papers for IPO

  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 ..

Reliance closes deal with four investors, gets Rs 30,062 cr

   AFTER Facebook Inc, Reliance Industries has closed deals to sell a minority stake in its digital arm to four other investors, receiving a total of over Rs 30,062 crore. In a regulatory filing, Reliance said it has closed sale of 6.13 per cent stake in Jio Platforms with L Catterton, The Public Investment Fund, Silver Lake and General Atlantic. Reliance had sold a total of 25.09 per cent stake in the subsidiary which houses India’s youngest but largest telecom firm, Jio, ..

Balrampur Chini announces Rs 180 cr buyback offer

  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..

‘Startups in India will scale faster in coming years’

THE startup ecosystem in the country, which has expanded at a rapid pace over the past few years, is poised to continue its growth trajectory in the next few years with these fledgling businesses scaling up and more unicorns getting created, according to private equity industry executives.Sequoia Capital India MD Rajan Anandan noted that the startup ecosystem has seen massive growth not only in terms of number of startups but also unicorns emerging and venture capital funding being pumped in. This ..

NMC authorities should allow opening of restaurants & eateries, demands NVCC

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...

‘Housing sales down 67% in Apr-Jun’

Housing sales fell 67 per cent at 21,294 units across nine major cities during April-June due to outbreak of the coronavirus pandemic and natiowide lockdown, according to data analytics firm PropEquity. Recently, property consultant Anarock had released its data that showed an estimated 81 per cent fall in sales at 12,740 units across seven cities during April-June this year. According to PropEquity, total housing sales during April-June 2020 stood at 21,294 units, down 67 per cent from 64,378 units ..

Blood donation camp held at Gaysons

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...

Top five private banks stare at NPAs doubling to 5 per cent in FY21: Report

Top five private sector banks may see their slippages double to 5 per cent this fiscal due to the poor loan offtake and the moratorium-driven contraction in net interest margins, warns a report. These five banks--HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, IndusInd Bank and Yes Bank--collectively control a quarter of the system and three-fourths of the private banking space, according to a report by India Ratings on Friday...

Discontinue odd-even rule for shops: Traders

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..

COSIA’s webinar on MSME today

CHAMBER of Small Industry Associations (COSIA) will be organising an exclusive webinar on MSME on July 10, from 4 pm to 6 pm. Renowned MSME consultant CA Julfesh Shah will speak on ‘Decoding of new MSME definition, Udyam registration process & it’s benefits’. While Sanjeet Kumar, CEO, CARE Advisory, Mumbai will speak on ‘MSME sectoral analysis, limits and challenges’...

CII to conduct ‘Buyer Seller Meet’ on July 18

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..

‘Indian pharma industry committed to supply of quality drugs in India, world’

Indian pharma industry is committed to an uninterrupted supply of quality medicines to patients in India and globally, Indian Pharmaceutical Alliance (IPA) said on Thursday. “The Prime Minister’s speech at the India Global Week 2020 captures the strength of India’s pharma industry. During these unprecedented times, the pharmaceutical industry worked i..

Automotive aftermarket spending to decline 11 per cent in FY21: Report

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 ..

Cummins College of Engg for Women to hold webinar

Maharashi Karve Stree Shikshan Samstha’s (MKSSS) Cummins College of Engineering for Women, Nagpur will conduct a webinar on ‘Virtual Lab’. The event will be organised on the online platform ‘Microsoft Team’ on July 10 at 10 am. Dr Anil Sahastrabuddhe, Chairman, All India Council of Technical Education (AICTE), will be the chief guest. Dr K V Gangadharan, National Institute of Technology Karnataka (NITK), Surathkal and his team are supporting the..

Confenence on IICCTCMS from today

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...

RCOEM signs MoU with Kingsway Hospitals

Shri Ramdeobaba College of Engineering and Management (RCOEM) added another feather to its cap as it signed a memorandum of understand- ing (MoU) with Kingsway Hospitals, Nagpur. The MoU was signed on Wednesday by Govindlal Agarwal, General Secretary, RCOEM and Dr R R Khandelwal, Director (Academics), Kingsway Hospitals in the presence of Anand Sancheti, Chairman, Board of Directors, Dr Prakash Khetan, Managing Director, Dr Pramod Gandhi, ..

‘Company Secretaries should turn challenges into opportunities’

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...

Vishal Agrawal takes over as President of EO Ngp Chapter

ENTREPRENEURS Organisation (EO) has been witnessing extreme success. EO added 13 chapters to this ever expanding family of thousands. Under the Presidentship of Atul Gupta, the Nagpur Chapter organised a number of events during the year...

‘Allow dine-in restaurants to open’

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...

GJEPC asks Govt for priority status

THE gems and jewellery industry, which is passing through a challenging time due to COVID-19 pandemic, has urged the Government for a supportive e-commerce policy and a ‘priority sector status’ so that it can bring in operational benefits...

TiE Nagpur to hold webinar on July 11

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 ..

IQAC Cell of Aakar Group of Institutions holds webinar

AAKAR Group of Institutions Nagpur under the aegis of Aakar Bahuuddeshiya Gramin Vikas Sanstha Nagpur and IQAC Cell of Aakar College of Management for Women jointly organised a national level webinar series by Dr Pranjal Bogawar on topic ‘IT and Computer Science’. The webinar series comprised of four lectures on artificial intelligence, perception (image processing), natural language processing using python and machine learning paython. Director of Aakar Group and Principal of Aakar College of Management ..

Dr Vinod Mune’s treatment on hypnosis

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 ..

Soybean futures rise on fresh bets

SOYBEAN prices on Wednesday went up by Rs 2 to Rs 3,732 per quintal in futures market as traders created fresh positions tracking positive spot demand. On the NCDX, soybean for July delivery rose by Rs 2, or 0.05 per cent, to Rs 3,732 per quintal with an open interest of 24,845 lots. Soybean for August delivery went up by Rs 16 to Rs 3,730 per quintal with an open interest of 33,160 lots. Marketmen said raising of fresh positions by speculators on the back of highe..

Govt is working for economic development: Nitin Gadkari

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..

‘Mention country of origin’ for online sales, demands CAIT

Traders’ body CAIT on Monday asked the Government to ensure that the upcoming e-commerce policy makes it mandatory to mention of the ‘country of origin’ and contents of value addition on each product to be sold on e-commerce platforms. The Confederation of All India Traders (CAIT) has written to Commerce and Industry Minister Piyush Goyal in this regard...

Kanade elected as Chairman of Economic Front in BJP’s State executive panel

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...

Ensure respect, dignity of CA profession is maintained in times to come: Loya

The 72nd Chartered Accountants’ Foundation Day was recently celebretaed with great enthusiasm but in a unique way taking all precautionary measures in view threat of COVID-19. Senior and eminent Chartered Accountant CA Rajesh Loya, who is also former Chairman of Nagpur Branch and RSS Mahanagar Sanghchalak, was the chief guest...

Mahesh Vazirani gets JCI Business Icon Award 2020

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 ..

Monsoon Sale at Vaishali Sarees

VAISHALI Saree, one of the trusted names for sarees in city, has began its Monsoon Sale. The sale is getting overwhelming response from the customers. The store is offering wide variety of sarees with reasonable price. Shalu, laccha, special wedding sarees, party wear sarees, fancy wear, lugda and wide and exclusive range is available for the customers. The showroom remains open on all even days of the month from 9.30 am to 5 pm. Customers may visit Vaishali Sarees is located at Sarafa Bazar, Itwari ..

Bansod youngest Category-A chess arbiter of India

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...

FIITJEE’s online classes give wings to dreams of students

While the fumes of pandemic fear and bafflement were in the air, FIITJEE conquered the situation by introducing its ‘Live Online Classes’. The swiftness and adaptability of this premier coaching institute paved way for a solution that came as no less than a boon for the students. These Live Online Classes were in operation right after a few days of the pandemic and gripped students’ hands tight to let them continue their exam preparation without any obstacles. The students who were already enrolled ..

Taparia Tools launches ‘Grease Gun Barrel’

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...

Reading Rabbits Library in its 7th year of operation

READING Rabbits Library, a premium library for kids in city, recently completed 6 years of its operations. A book heaven, for kids upto 16 years. It houses a collection of more than 5,000 books in various genres like novels, picture books, encyclopaedias, non-fiction, comics, magazines and newspapers. The library also offer home delivery facility throughout city at nominal cost...

Give relief in power bills for lockdown period: NVCC

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.”..

India’s coal import drops 30% in Apr-Jun

The country’s coal imports registered a drop of 29.7 per cent to 48.84 million tonnes (MT) in the April-June period of the ongoing financial year, according to industry data. India had imported 69.54 MT of coal in the April-June period of 2019-20, according to provisional compilation by mjunction. Mjunction, a joint venture between Tata Steel and SAIL, is a B2B e-commerce company that also publishes research reports on coal and steel verticals...

‘Eco package, opening up of economy post lockdown have begun showing results’

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 ..

MSMEs’ role vital in Aatmanirbhar Bharat: COSIA

MSMEs who are the major contributors to nation’s economic growth, and their share in GDP, export and job creation in the country is quite significant. It has been widely recognised by everyone in the country and therefore it has got attention althroughout the country, Mayank Shukla, Chairman of Chamber of Small Industry Associations (COSIA), Vidarbha Chapter said...

New Toyota Vellfire unveiled at Patni Toyota showroom

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...

Rawmatt Industries JV with Italian co

At a time when rising fuel prices are making headlines every passing day, city-based Rawmatt Industries Private Limited is making attempts to give respite to the fuel consumers by way of offering them an affordable option...

BMS sets up help desk for workers

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...

70% start-ups impacted by COVID-19: Survey

A SURVEY of 250 start-ups has revealed that the COVID-19 pandemic has had an unprecedented impact on the business, with 70 per cent saying that their business has been impacted, and some of them shutting operations. The survey on the ‘Impact of COVID-19 on Indian start-ups’ conducted by Ficci jointly with the Indian Angel Network depicts that only 22 per cent of the start-ups have cash reserves to meet fixed cost expenses of their companies over the next 3-6 months. “70 per cent of start-ups stated ..

JCI Nagpur felicitates city’s renowned doctors

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...

City’s Pratap Motwani appointed President of Maharashtra Sindhi Samaj Sangam

The new body of Maharashtra Sindhi Samaj Sangam was declared. Nagpur’s Pratap Motwani was appointed as President and Prakash Talreja of Ulhas Nagar became General Secretary. The body is a part of Sangathan Vishwa Sindhi Seva Sangam, representing the Sindhi community of the entire world. Pune’s Dhanraj Bhai Manghanani will be the Chief Senior Chief Advisor. The organisation has been launched to push for the political patronage and rights of Sindhi society in Maharashtra with the inspiration and austerity ..

‘Unlock Happiness Sale’ with up to 50 per cent off at Gaysons

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. ..

Suruchi Spices opens 2nd outlet at Namdev Nagar

Suruchi Spices has opened its second outlet at Akshay Building, Namdev Nagar, near Kalamna Bridge. The outlet was inaugurated by Subhash Jain, Chairman of Suruchi Spices. ..

RC Plasto launches ‘Touch Free Hand Washing System’

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

‘Will promote ease of doing biz in jewellery sector’

NEWLY-appointed Gem and Jewellery Export Promotion Council (GJEPC) Chairman Colin Shah on Thursday said, he will focus on promoting ease of doing business for the sector as it would help in pushing manufacturing and exports both...

‘The Summer House Pachmarhi – AM Hotel Kollection’ opens

‘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 ..

ICD, Ngp registers 60% jump in rice exports

Although most businesses are facing plethora of problems owing to lockdown induced by COVID-19, ICD, Nagpur managed by CONCOR has registered a jump in rice exports. “The company has registered 60 per cent rise in exports of rice compared to the year-ago period,” said Santosh Kumar Singh, Chief Manager of ICD, Nagpur while speaking ..

‘Banks to face earning pressure for at least 2 yrs’

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...

NBFCs’ bad loans to rise to 5-7 pc in current fiscal: Study

NON-BANKING financial companies (NBFCs) asset quality is likely to worsen to 5-7 per cent in the current financial year due to weak economic growth on account of disruptions caused by coronavirus-related lockdown, according to a report by rating agency Icra...

RBI asks banks to reclassify MSMEs as per revised criteria

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 ..

Safety & shopping at Rags Boutique

RAGS Boutique has opened its doors with caution, care and love for their clients. With contact less sanitiser stand at the door to noting down the temperature of the visitors, it is taking proper and extra precautions for customers safety. With required social distancing, Rags would love to show customers fresh arrivals of ‘Silk Paithanis’, cotton Paithanis, Gadwal silk sarees and pure double Ikkat Pochampalli sarees. Rags understands the need for daily wear and it won’t let the style quotient go ..

CAIT suggests measures to broaden GST

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 ..

Suffering from constipation? Ayurveda is answer: Dr Gupta

CONSTIPATION is one of the frequently described gastrointestinal symptoms. Infrequent defecation, hard or lumpy stools, excessive straining, and incomplete evacuation characterise it. Our ancient medicinal method, Ayurveda has multifaceted approach towards constipation by a mixture of herbs and shrubs of Indian origin, which are having multiple actions and benefits in the diseases of the anal canal...

Resolve risky exporters’ issue immediately: FIEO

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 ..

GNIHMCS webinar on July 3

GURU Nanak Education Society, Nagpur headed by Sardar Navneet Singh Tuli, runs Guru Nanak Institute of Hotel Management and Catering Studies (GNIHMCS). The college is affiliated to Kavi Kulguru Kalidas Sanskrit University, Ramtek. The college is striving to ignite the inner passion of the students towards hospitality and sculpt them into world-class hospitality professionals...

Space creation to work from home is challenge for designers

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...

‘Make Sarafa Market free from vendors occupying footpaths illegally’

The Nagpur Sarafa Association has recently urged the concerned authorities to make the Sarafa Market free from vendors occupying footpaths. The association said that the vendors are illegally setting up their stalls in the market which is posing a big threat to the health of all those visiting the area considering the current situation of coronavirus. ..

NVCC performs havan for peace and prosperity

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...

Banks sanction over Rs 1 lakh crore loans to 30 lakh MSMEs under credit guarantee scheme

The finance ministry on Tuesday said banks have sanctioned over Rs 1 lakh crore loans under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector reeling under coronavirus-induced economic slowdown. While, Rs 45,860 crore is disbursed under the 100 per cent ECLGS for the micro, small and medium enterprises (MSMEs) till June 26, it said. The scheme is the biggest fiscal component of the Rs 20-lakh crore ‘Aatmanirbhar Bharat Abhiyan” package announced by Finance Minister ..

Raise outstanding loan limit to Rs 100 crore for availing ECLGS: AEPC

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 ..

Country can become self-reliant in MSMEs: Sudhir Mungantiwar

Former Maharashtra Finance Minister Sudhir Mungantiwar said that Prime Minister Narendra Modi has given the slogan of a self-reliant India and the country can become self-reliant in Micro, Small & Medium Enterprises (MSMEs). He also said that the entrepreneurs in small and medium industries should work together to make Marathwada and Vidarbha prosperous...

‘Make ‘Country of Origin’ compulsory for all products’

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 ..

‘Port sector to witness 5-8 per cent cargo volume contraction in FY21’

The Indian port sector has been adversely impacted due to the COVID-19 pandemic and the subsequent lockdown, and it is likely to witness 5-8 per cent contraction in cargo volumes, rating agency ICRA said on Monday. Although the sector has been classified under essential services and has remained operational during the lockdown, the pandemic's adverse impact on domestic economic activity as well as slowdown in global trade have resulted in steep contra..

VIMS Hospital celebrates 3rd anniversary

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..