NATIONAL 'Cost control, recovery mgmt key to Indian banks' RBI (Reserve Bank of India) Governor Y V Reddy today (Nov 10, 2004) asked banks to pull up their socks to improve recovery of their non-performing assets (NPAs), which have shot up to Rs 1,10,000 crore.
Reliance India card: Call anywhere in India at Rs 1 Reliance Infocomm has launched Reliance India card that facilitates calls from its mobile or fixed wireless phone to any of its phone anywhere across the country at Re 1 minute and all other calls, including national long distance, at Rs 2 a minute.
Days of DFI are over; get into VC funding: Kalam Fearing that the days of development financial institutions are over, President A P J Abdul Kalam today (Nov 10, 2004) wanted commercial banks to take the mantle allocating at least Rs 10,000 crore to venture capital in areas like IT from the next financial year.
IMF upbeat over India; says it can grow at 10 pc Upbeat over Indian economy, IMF (International Monetary Fund) said today (Nov 10, 2004) the country had the potential to grow at 10 per cent annually for several years, higher than the Tenth Plan target of 8.0 per cent.
Kalam spells out six-point mission for banks In a bid to achieve 7-8 per cent economic growth, President A P J Abdul Kalam today (Nov 10, 2004) spelt out a six-point mission for the banking sector, including more than doubling of the farm credit and participating in infrastructure development.
MINDS-India's first infrastructure devpt institute The School of Infrastructure Management and Development Strategies-India (MINDS), said to be first institute for infrastructure and development, is set to commence its academic programme in Bangalore in January.
Indian BPO firms are acquiring foreign companies The Indian business process outsourcing (BPO) companies, which have been clinching outsourcing contracts from developed markets, are now acquiring BPO units overseas to gain business from firms that are reluctant to outsource business to an offshore location.
Software giant Infosys to have extra office space soon An additional 3.5 million sq ft of office space will be available to Infosys Technologies in the next few months as the software giant hires aggressively to keep up with the growth in business.
