Business

RBI notifies banks on interest equalisation scheme for rupee export credit
Business

RBI notifies banks on interest equalisation scheme for rupee export credit

Mumbai, Feb 22: The Reserve Bank of India (RBI) on Thursday issued a notification to all the banks, stating that the government has allowed the extension of the Interest Equalisation Scheme for Pre and Post-Shipment Rupee Export Credit (Scheme) up to June 30, 2024. The rate of interest equalisation shall be 2 percent for manufacturers and merchant exporters exporting under specified 410 HS lines and 3 per cent for MSME manufacturers exporting under any HS line. The notification also stated that with effect from FY 2023-24, the banks which have priced the loans covered under this scheme at an average interest rate of greater than repo rate + 4 per cent prior to subvention would be subjected to certain restrictions under the scheme. Based on an assessment undertaken for FY 2023...
H&H Deptt organises exhibition at Kulgam
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H&H Deptt organises exhibition at Kulgam

Kulgam, Feb 22: A one-day awareness cum exhibition camp was Thursday conducted by the Department of Handicrafts and Handloom Kulgam at D H Pora. The event was inaugurated by the Sub-divisional Magistrate (SDM) Noorabad, Bashir Ul Hassan. AD-Handicrafts & Handloom, LDM Kulgam, Representatives from BDO Office D H Pora and NRLM D H Pora were also present. More than 200 artisans and local people thronged the event, in which different Cooperative Societies showcased their products. Speaking on the occasion, SDM Noorabad deliberated upon participants and Cooperative Societies to avail different schemes of the department and become self-dependent. He also highlighted and appreciated the role of artisans in the local economy. Source
Secy Cooperative Deptt reviews progress of ‘World’s Largest Grain Storage Project’
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Secy Cooperative Deptt reviews progress of ‘World’s Largest Grain Storage Project’

Jammu, Feb 22:  Secretary Cooperative Department, Babila Rakwal, today convened a meeting to review progress on land identification for establishment of grain stores under the Centre Government’s ambitious initiative “World Largest Grain Storage Project” in all districts of Jammu and Kashmir here at Civil Secretariat. The meeting was informed that a total of 56 land locations have been identified in sixteen districts, so far, including 3 in Jammu, 1 in Samba, 5 each in Kishtwar, Kathua, Shopian, Poonch Kulgam and Doda, 2 in Udhampur, 4 in Budgam, 3 in Pulwama, 1 each in Srinagar, Reasi, Ganderbal, Anantnag and Rajouri. Regarding the remaining locations to be identified for raising these grain stores, the Secretary exhorted upon the concerned officers to ensure that the same is...
HP&M Budgam organises awareness programme at Kremshore
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HP&M Budgam organises awareness programme at Kremshore

Budgam, Feb 22:  A one-day awareness camp regarding familiarisation of HADP, PMFME, e-NAM, support for grading and packaging scheme and various centrally sponsored schemes among the growers, PRIs and other stakeholders of the horticulture sector was today held at Kremshore, Budgam. The programme organised by Area Marketing Officer Budgam witnessed the participation of a large gathering of growers and experts, besides representatives from allied departments viz. Horticulture, Agriculture, Animal Husbandry and Lead Bank. The camp was chaired by the Deputy Director Horticulture Planning and Marketing (HP&M) Kashmir. The awareness camp started with the introduction of the aims and objectives of HP&M presented by the officers of Area Marketing office Budgam. Thereafter, a ...
Need A Personal Loan? Check Out the Different Types Available in India
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Need A Personal Loan? Check Out the Different Types Available in India

When life throws unexpected expenses your way, quick financial support can become your saviour. Personal loans online are often the go-to solution, offering a helping hand during such times. But, did you know there are different types of Personal Loans available in India? Each type is personalised to meet specific needs, making sure that whatever your financial requirement, there’s a solution for you. In this article, we will look at 6 such loans available in India. Lenders like SMFG India Credit, provide hassle-free, and quick solutions for all your financing needs. Types of Personal Loans in India Personal Loans can vary based on purpose, tenure, interest rates, and other factors. Here’s a look at the different types available. 1. Wedding Loans   What They Offer: These lo...
Negotiations on at acquiring Paytm Payments Bank businesses as RBI deadline looms
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Negotiations on at acquiring Paytm Payments Bank businesses as RBI deadline looms

New Delhi, Feb 21: As Paytm Payments Bank announced to shift its nodal account to Axis Bank by opening an escrow account, speculations started on which bank or financial services major is vying to get what businesses at the Paytm subsidiary as the Reserve Bank of India’s (RBI) March 15 deadline looms. Negotiations with Paytm are reportedly underway for a chunk of FASTags, National Common Mobility Card and becoming banking partners for UPI transactions-related businesses but deals are yet to be finalised. However, “the basic risk in this opportunity would be the KYC of merchants or client onboarding. If banks take any business, they’ll have to re-do KYC because nobody wants to get on the wrong side of the regulator”, according to Kuntal Sur, partner–risk consulting and leader f...
Dir Sericulture advocates inclusive silkworm rearing for landless farmers
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Dir Sericulture advocates inclusive silkworm rearing for landless farmers

Ganderbal, Feb 21: The Director Sericulture J&K, Ajaz Ahmad Bhat today undertook a comprehensive visit to the tribal areas of Kangan in District Ganderbal under Public Outreach Initiative Programme. The primary objective of the visit was to raise awareness about the facilities and incentives provided by the department to silkworm rearers and individuals of tribal areas interested in adopting silkworm rearing as a means of earning a dignified livelihood. Speaking on the occasion, the Director of Sericulture said that Silkworm rearing being an in-house practice does not require large space, thus, making it accessible and advantageous for both general and landless farmers. He informed the public about the plethora of facilities being provided by the department which also inc...
DC Bandipora commends entrepreneurial spirit of women folk
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DC Bandipora commends entrepreneurial spirit of women folk

Bandipora, Feb 21: In a gesture of support and admiration for local entrepreneurship, Deputy Commissioner (DC) Bandipora, Shakeel ul Rehman Rather on Wednesday visited the business unit of Shaheena Begum, a 35-year-old dynamic entrepreneur and educated Self Help Group (SHG) member of the National Rural Livelihood Mission (NRLM) from Sonerwani Bandipora. The Deputy Commissioner was accompanied by ACD Bandipora Mumtaz Peer, BPM NRLM and other concerned. Shaheena Begum is a shining example of determination and business acumen, successfully managing multiple ventures with an estimated cost of 10.50 lakhs. Her ventures include a rice mill, flour mill, masala mill, oil expeller, beekeeping, and poultry farming, showcasing a diverse and sustainable business model. During the visit, ...
Batamaloo traders jubilant over new railway line
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Batamaloo traders jubilant over new railway line

Srinagar, Feb 21: Batamaloo Traders Association joyously welcomed the inauguration of the new railway line connecting Jammu and Kashmir. President, BTA, Peer Imtiyaz said that the association expressed heartfelt gratitude to Prime Minister Narendra Modi for spearheading this major infrastructure project. Imtiyaz described the railway as a “monumental step” that signifies much more than just connectivity. They stated that the railway line empowers local businesses, enables progress, and unlocks endless economic possibilities for Kashmir. “The railway will facilitate smoother transportation logistics and expand market access for local businesses. There is an air of optimism that this infrastructure marvel ushers in a new era of prosperity for the community.” Imtiyaz said that ...
EDB refutes claims of embezzlement of public money
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EDB refutes claims of embezzlement of public money

Pulwama, Feb 21: Amid controversy surrounding allegations of embezzlement at a branch of the Ellaquai Dehati Bank (EDB) in Tral, the Chairman of EDB has strongly denied these accusations that recently surfaced in certain media reports. The EDB has made it clear that the public money is safe in the bank and “shall remain insulated at all costs”. Fayaz Ahmad, Chairman of EDB in a statement said that such claims and statements circulated in videos on social media are baseless. “As far as the said branch is concerned, some irregularities have been pointed out during a routine inspection at the branch and the same are under investigation,” reads the statement. The statement said that during the initial investigation, it was found that the erring official had created some dummy lo...