The programme is a free, student-driven initiative and independent of the admission process but is backed by the administration of these institutes. The programme is managed through either the institute website or a separate purpose-built website that matches the profile of mentors and aspirants based on the background and discipline.
The fresh allegations of carrying out retail trade have come from the Forward Bloc, a constituent of the Left Front government in Bengal, which had been opposing the entry of Metro on this ground. Forward Bloc-controlled APMC in the state has submitted a report stating the instances of violations of the terms of the Regulated Market Committee licence, said sources.
The company is also mulling to enter the currency futures space through the exchange. Recently, the Securities and Exchange Board of India had issued guidelines for SME exchange, and had set a minimum net worth criteria of Rs 100 crore (Rs 1 billion) for entity willing to start it.
mjunction services, one of the largest e-commerce companies promoted by Steel Authority of India and Tata Steel, has shelved its initial public offering plan after Tata Steel indicated it would back the management team for its future expansion plans.
Sony Entertainment Television India, Nick India and Sony Pix are looking beyond television for revenue. They plan to improve their respective websites to build a community of online users in order to attract online advertisements. They are looking at the mobile platform for ringtone, wallpaper and games downloads.
In spite of some initial hiccups due to problems in land acquisition, the real estate projects by Unitech in West Bengal were now on track. After facing delays due to problems in land acquisition, work at the proposed logistics hub on Kona Expressway had started.
The recession is beginning to affect final placements at premier B-schools and IITs. Recruiters are maintaining last year's salary levels.
The small loan size, strict vigil of bankers and the already high interest rates paid by the borrowers to moneylenders make the scheme attractive for banks. Banks are also devising new models for recovering such loans, mostly by deploying agents or vendors on a daily or weekly basis in rural areas.
At a time when most B-schools are slashing annual festival budgets because corporate sponsorships are drying up, IIM Calcutta (IIM-C) has increased its budget by nearly 20 per cent for its four festivals this year.
Indian retailers are an optimistic lot when it comes to deciding on expansion plans for 2009. Retailers such as Spencer's Retail, Future Group, Shoppers Stop, Westside, Wills Lifestyle, Bata India, and Raymond find the 30-40 per cent drop in retail rentals a reason to cheer.
Buyers prefer to wait on expectation of better bargains.
Spencer's Retail, the retail arm of RPG Group, says it has seen a 30-40 per cent decline in the rentals in Tier-II and -III cities. In Tier-I and metropolitan cities, the correction is in the range of 15-20 per cent, and a further correction and its impact is likely to come in the next few months.
According to Jagat M Sarkar, head of HR, e-Rev Max, a product company which has its main development centre in Kolkata and presence in 60 countries, "In the given scenario, there will be increased focus on getting quality manpower. Salary hikes too would be hit. Those on the bench and non-performers are jittery too as companies plan on pink slips.
Information technology employees and fresh graduates in Kolkata have started to see salary cuts and employee lay offs.
The market has seen 30 per cent fall in demand in the last two months. In tandem, property prices, especially the residential ones, have fallen by 15-20 per cent across the board in the last two months. Rentals for offices too have fallen, with companies averse to shift to new offices in a bid to check costs. In case of retail malls, ector experts said, all leasing activity had come to a standstill, with no retailer willing to open a shop.
Banks are busy advertising attractive deposit rates that are on offer, lining up roadshows and door-to-door campaigns. Some of them are even offering incentives to their employees to woo depositors. As a result, they expect to mop up more than 20 per cent of what they usually do during November. Banks have also stepped up the deposit-mobilisation drive because they will be reducing interest rates from December.
Xerox India Managing Director Andrew Horne said, 'In the current uncertain economic environment, every company is looking at how it can improve operational efficiency... We are amalgamating some roles. In all, 24 roles are disappearing. The decision on timing has been accelerated by pressures caused by the challenging business environment.'
In spite of the government's efforts to help cooperative banks post the farm loan relief scheme, through the liquidity support fund, the banks are facing huge cash deficits.
Wills Lifestyle has lined up new marketing strategies and product launches, targeting the womenswear segment in an attempt to double revenues from this burgeoning category. According to Atul Chand, divisional chief executive of Wills Lifestyle, womenswear currently contributes 35-40 per cent to the turnover, which the company intends to take to 50-60 per cent soon.
The West Bengal government's new compensation package for 'unwilling' farmers in Singur, 40km from Kolkata, might have been praised by Tata Motors, but those involved in land transactions in the area find the offer inadequate.
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