Friday, Feb 22 2019 | Time 14:11 Hrs(IST)
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  • Modi prime-time minister, photoshoot was on even 3 hours after Pulwama: Rahul
  • AAP Govt committed to provide curative healthcare services to citizens of Delhi: LG
  • Deoband: ATS arrests 2 suspects associated with JeM
  • Rajini's meeting with Vijayakanth set political tongues wagging
  • One more dies in fire mishap, toll rises to 7
  • Chandrababu Naidu skips Prez function organised by Venkaiah family Trust
  • Projects worth Rs 5,894 cr inaugurated at Chandi Ghat in Haridwar
  • Walk-out in Assam Assembly over arrest, search powers to Assam Rifles
  • Russian Helicopter Ka-226T will be assembled at proposed HAL copter facility in Tumkur
  • Russian Helicopter Ka-226T will be assembled at proposed HAL copter facility in Tumkur
  • CM presents over Rs 1 82 lakh crore Vote-on-Account budget for FY 2019-20
  • Poeir Jets Develops India’s First Heavy-lift Hybrid Drones
  • Poeir Jets Develops India’s First Heavy-lift Hybrid Drones
  • IOC 'suspends discussions' with India regarding hosting of its events
  • IOC 'suspends discussions' with India regarding hosting of its events
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Bank credit issue of exporters yet to be resolved: FIEO President

Hyderabad, Dec 6 (UNI) Federation of Indian Export Organisation (FIEO) President, Mr Ganesh Kumar Gupta on Thursday said that the bank credit issue of exporters are yet to be resolved to achieve higher double growth in Exports.

In a statement, Gupta said PSU Banks officials including MDs, EDs, GMs, AGMs are not accessible to exporters particularly from the MSME sector. This has tightened the hands of these exporters to take orders.

As they are not able to discuss issues and challenges with regard to availability and cost of credit to the exports sector, he said Commerce Minister, Mr Suresh Prabhu, who is taking several steps to promote exports, would not fructify if banks would not lend to exporters smoothly and at affordable rates.

On one hand, the government is pushing digital India initiative and paperless transactions, these banks demand bundles of documents, collateral and other papers for considering their applications for smaller limit (Rs one to five crores) of loan, he pointed out.

It takes months and months to get these limits approved and in the meantime, we lose our orders, Gupta said that the issue needs urgent attention of the government.

The government should focus to register double digit growth rate in exports, includes -- enhancement of Duty Drawback rates; more products like fabrics should be included under MEIS; to promote exports of GI products, government should join hands with FIEO to set up big stores at airports also GST refunds at airports should start immediately.

These measures would help in reaching USD 350 billion exports and recording substantial growth rates, he added.
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Russian Helicopter Ka-226T will be assembled at proposed HAL copter facility in Tumkur

22 Feb 2019 | 1:30 PM

Bengaluru, Feb 22 (UNI) The helicopter facility of the Defence PSU, Hindustan Aeronautics Limited (HAL) coming up at Tumakuru in Karnataka will house the final assembly and servicing of the Russian-made Kamov-226T Light Utility Helicopter, for which a joint-agreement was registered recently.

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Poeir Jets Develops India’s First Heavy-lift Hybrid Drones

22 Feb 2019 | 1:28 PM

Bengaluru, Feb 22 (UNI) After successful launch of the country’s first Microjet Engine series, Poeir Jets, promoted by M/s Poeir Jets Pvt Ltd, an R&D subsidiary of Intech DMLS, is India’s first private firm that developed Jet Engines, has moved to develop India’s first Heavy lift Hybrid drones and it was launched in the ongoing Aero India 2019 with an aim to establish itself as industry leaders in providing propulsion solutions to Unmanned Aircraft Systems (UAS).

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Sugar rates steady

22 Feb 2019 | 1:13 PM

Kolhapur, Feb 22 (UNI) The prices of M 30 and S 30 grades of sugar rates remained steady in Kolhapur sugar market on Friday to Rs 3280/3300 and Rs 3180/3200 per quintal respectively.

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Major currencies up

Major currencies up

22 Feb 2019 | 12:20 PM

Mumbai, Feb 22 (UNI) Following were the indicative currency rates and travellers' cheques buying and selling rates per unit.

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Rupee opens flat at 71 24 against USD

Rupee opens flat at 71 24 against USD

22 Feb 2019 | 12:09 PM

Mumbai, Feb 22 (UNI) The Rupee on Friday opened flat at 71.

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