NATIONAL Maharashtra Brahmin Sahakari Bank's license cancelled The Reserve Bank of India has cancelled the licence of Indore based Maharashtra Brahmin Sahakari Bank for alleged financial irregularities and Madhya Pradesh registrar of cooperatives would appoint a liquidator to initiate liquidation proceedings.
Stocks bounce back with vengeance, Sensex up 60 pts Discounting concerns over soaring oil prices, the market bounced back with a vengeance and ended up by 60 points in somewhat erratic movements on the back of sustained FII inflows coupled with expectations of excellent quarterly working results.
Duty cuts pull down Indirect tax mop up by 10 pc Indirect tax mop up fell short of double-digit growth at Rs 69,611 crore in the first half of this fiscal mainly due to duty cuts on petroleum and other items to check inflation that cost the exchequer Rs 5,075 crore.
US firm Symbol Tech to invest $ 30 mn in India American enterprise mobility firm Symbol Technologies today (Oct 7, 2004) said, it would invest $ 30 million in India and ramp up its workforce to 500 at its development centre in Bangalore.
'It is in their interest to outsource to India' Though India continues to be the top outsourcing destination, it has been facing growing challenge from China, Mexico and the Philippines, which are competing for a slice of the large offshoring pie, telecom expert Sam Pitroda said on Wednesday (Oct 6, 2004).
'Outcry against BPO would set clock back by decades' Infosys chairman N R Narayana Murthy has cautioned that any protectionism that prevents free flow of capital, human talent and technological expertise, would "set the clock back by decades" in terms of growth in productivity and economic progress for all countries.
INTERNATIONAL Patriotism affects American purchasing decisions Patriotism affects American purchasing decisions - infact about 65 per cent of consumers may alter their buying behaviour if they knew or thought that a company with which they were doing business used an offshore call centre, regardless of the fact that they were satisfied by the service, a Purdue University survey says.
India will take steps to control inflation: FM India will take "measured fiscal and monetary steps" to control inflation which has resulted from rising oil prices, Finance Minister P Chidambaram has said.
'For every USD outsourced US will get back 5-10 USD' Dismissing US Democratic Presidential candidate John Kerry's views against outsourcing as "pre-election rhetoric", Finance Minister P Chidambaram has said he is not worried about the campaign against off-shoring as American businesses have realised its benefits.
