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Most banks lending to farmers in state is in gold loans: RBI

NT NETWORK PANAJI Most of the banks lending to farmers in the state is in gold loans and not for increasing agricultural output, revealed a senior official of RBI, Goa on Monday. The senior official said that, agricultural credit extended by banks to local farmers is largely in the form of short term gold loans which is not a healthy …

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Small units vital in industrial development: CM

Panaji: Goan small units are playing an important role in the industrial development of the state, informed the Chief Minister, Pramod Sawant and assured support to MSMEs. Sawant was speaking during the micro, small and medium enterprises (MSMEs) summit hosted by the Goa Small Industries Association (GSIA). While growth of MSMEs is the stated objective of the government, a meeting …

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Sitharaman looks to steer economy out of slowdown

New Delhi: Nirmala Sitharaman Friday broke the glass ceiling again as she became the first full-time woman Finance Minister, who will present Modi 2.0 government’s maiden Budget that should look to take out the country from slowing growth, create jobs, attract investments and tackle banking sector woes. Sitharaman’s first day in office was greeted by GDP growth rate slowing down …

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GDP growth slows to 5-yr low

New Delhi: In a bad news for the new government on day one, CSO data showed that economic growth slowed to a 5-year low of 5.8 per cent in the fourth quarter of 2018-19, pushing India behind China, due to poor showing by agriculture and manufacturing sectors. The Central Statistics Office (CSO) released a worrisome set of data on rate …

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Goyal takes charge as new commerce and industry minister

New Delhi: Piyush Goyal Friday took charge of the commerce and industry ministry at a time when global protectionism is rising at trade front and the need to push India’s exports is pressing. Goyal, who also got the railway ministry, said, “I would like to thank Prime Minister (Narendra Modi) for the trust he has reposed in me by giving …

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Coal India reports 362% rise in Q4 net profit

Kolkata: State-run Coal India Ltd (CIL) on Thursday reported over 362 per cent increase in its consolidated net profit at Rs 6,024.23 crore for the fourth quarter of 2018-19 (Q4FY19) against Rs 1,302.63 crore in the year-ago period. Its revenue from operations in Q4 was Rs 28,546.26 crore, up 7.5 per cent from Rs 26,547.58 crore in the corresponding quarter …

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BIZ SCAN

Manoj Caculo new president of GCCI PANAJI: Manoj Caculo, chairman of Caculo group of companies is elected president of the Goa Chamber of Commerce & Industry (GCCI) for the term 2019-21. Caculo was declared elected unopposed as president by members of the 111-year old trade and business representative organization recently. A prominent businessman, Caculo is Bachelors of Civil Engineering from Karnataka …

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Indian Oil to provide fuel on credit to Punjab farmers

Chandigarh: In a first of its kind, oil major Indian Oil Corp Ltd on Wednesday signed a MoU with Punjab to set up 15 petrol pumps to provide fuel to farmers on credit that will be repaid after the harvesting of crops. For this, the Cooperation Department inked a pact with Indian Oil in the presence of Cooperation Minister Sukhjinder …

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BIZ SCAN

Goa to host South India MSME Summit tomorrow PANAJI: For the first time Medium Small and Micro Enterprises (MSME) associations of different states will be converging in Goa for a South India MSME Summit 2019. Seven MSME associations of southern states will be arriving on May 31 for a day-long summit, starting from 11 am. The Goa State Industries Associations …

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Jet asks staff to extract key data

New Delhi: In deepening uncertainty about its revival, grounded Jet Airways has asked its engineering staff to extract all aircraft maintenance data from systems as IBM-supported servers would not be available from June 1. The airline has written to its engineering staff that effective June 1, 2019 both Jet Airways and JetLite AMOS Production Environment (a software package provided by …

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