ASSOCHAM asks govt to aid farmers in drought areas
The Dollar Business Bureau The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has urged the government to help farmers who are suffering in oppressive drought, by offloading their bank loan repayments. As part of its relief measures to the drought affected rural population, the government should repay their loans and supply food grains to them at subsidised rates, ASSOCHAM President Sunil Kanoria said. Kanoria expressed this in a meeting with the Governor of Telangana ESL Narasimhan, when discussing issues related to the microfinance sector. The Chairman of Telangana Development Council of ASSOCHAM Srikanth Badiga, Secretary General DS Rawat and Senior Member P Nandgopal also accompanied Sunil Kanoria to the meeting on Tuesday. Expressing his concerns over rural crisis, the industry body ...
Indias key industries need sops to spur investment
The Dollar Business Bureau Days after the RBI slashed interest rate by 50 basis points, an industry body has sought special dispensations from the government to protect India’s key industries including real estate, power, steel, and gems and jewellery sectors. The industry body has asked the government to cut excise duty and take other accommodative measures like teaser loans for the housing sectors to bail these industries out of crisis. “For creating additional demand, the government will have to chip in with, rather bold measures and create extra elbow room for the selected industries by way of extending short tenure stimulus on construction material like steel, cement, power equipment while for the gems and jewellery, export sops like interest subvention must ...
RBI-SEBI initiative of debt to equity conversion not enough
The Dollar Business Bureau The co-ordinated efforts of the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) to ease the process of conversion of debt into equity is unlikely to significantly benefit lenders as well as corporate borrowers for most of the current set of large corporate borrowers which, are already in distress or are close to distress, said a rating & research company report on March 25, 2015. However, the report welcomed the new joint initiative by the RBI and SEBI, as it would enhance the ability of the banks to convert debt into equity which, will provide another tool in the hand of lenders to fight non-performing assets (NPA), when in ...
