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Walmart launches initiative to support MSMEs

New Delhi: Retail major Walmart on Monday launched “Walmart Vriddhi Supplier Development Program”, an initiative to help MSMEs in India to enhance their capability and supply chain. Speaking at the launch event here Judith McKenna, President and CEO, Walmart International under the initiative, the company which owns the e-commerce major Flipkart, aims to train around 50,000 micro, small and medium …

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SBI cuts lending rate by 10 bps to 7.90%

New Delhi: The State Bank of India (SBI) on Monday announced a 10 basis points cut in one-year marginal cost of funds-based lending rate (MCLR), effective from December 10. It will bring SBI’s one-year MCLR down to 7.90 per cent from 8 per cent. The bank claimed it continued to be the cheapest loan provider in the country. The Reserve Bank of India (RBI) …

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Students should approach EDC, utilize its schemes: CM

NT NETWORK Panaji Stating that incubation centers are need of the hour, the Chief Minister, Pramod Sawant on Friday, urged Goan engineers to avail of government promoted incubators and co- working spaces. “Outside IT companies are come to Goa and it is difficult to see our IT engineers are sitting idle at home,” said the Chief Minister. He said that, …

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44 pesticides banned for import, manufacture, sale: Tomar

IANS New Delhi Till now 44 pesticides have been banned for import, manufacture and sale, two pesticide formulations have been restricted to be manufactured for export only and eight pesticides have been withdrawn and are no longer in use in agriculture, said Minister of Agriculture and Farmers Welfare Narendra Singh Tomar on Friday. The minister also said that 18 pesticides …

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Kerala’s IT major UST Global to expand workforce to 10,000

IANS Thiruvananthapuram Kerala’s biggest IT employer UST Global on Friday announced to expand its workforce in the state to 10,000, said a top official. Talking to the media during the company’s annual developer conference D3, Chief Operating Officer, Manu Gopinath said that their brand new campus will be opened at Kochi and when it happens, their strength would go up …

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Edible oil domestic production inadequate, says Paswan

IANS New Delhi The domestic production of edible oils is not adequate to meet their demand in India and the gap between demand and production of edible oils is met through imports, said Minister of Consumer Affairs, Food and Public Distribution Ramvilas Paswan on Friday. Replying to a query in Rajya Sabha, the minister said: “The production of Soyabean in …

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To boost economy, PMO focuses on ‘construction sector’, creating jobs

New Delhi: In a bid to boost economy and revive the construction sector in the country, the Narendra Modi government has directed all ministries and departments to expedite pending payments to contractors and construction companies. The objective is to infuse liquidity in the market and create more job opportunities. Over the last few years increasing number of multi-crore infrastructure and …

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Government to reduce laws governing MSME sector

Panaji: Small unit owners may be heading for relief from simpler set of laws for the Medium Small and Micro Enterprise (MSMEs) sector. On Wednesday, Rajesh Batra, head, Centre for MSME, Indian Institute of Corporation Affairs, Ministry of Corporation Affairs, N Delhi said that, the government is trying to remove plethora of rules and regulations governing the sector.  “There are …

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RBI sees inflation rising in the near-term

Mumbai: Upsurge in food prices is expected to keep retail inflation rate rising in the near-term, the Reserve Bank of India’s Monetary Policy Committee said on Thursday. However, the MPC noted that inflation is likely to moderate below target by Q2 of 2020-21. The RBI’s inflation expectations assume significance as the apex bank on Thursday decided to take a ‘temporary pause’ …

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ECONOMIC SCAN

Nokia chairman to step down in April HELSINKI: Nokia Chairman Risto Siilasmaa, who served as the company’s interim CEO from 2013 to 2014, is set to step down in April 2020 and is likely to be replaced by Sari Baldauf. Baldauf, who served as the Executive Vice-President and General Manager of Nokia’s Networks business group from 1998 to 2005, could …

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