Exim Bank of India Chairman and Managing Director T C Venkat Subramanian revealed that the bank has good exposure in highly export-intensive sectors. The bank has seen considerable increase in loan approvals and profit after tax. It provides financing both in foreign currency and Indian rupees. The bank will push exports from rural areas and explore untapped areas. Subramanian believes microfinancing model was ideal for villages as it reaches the indigenous rural people.
FM's decision to make PAN card a neccessity for financial transactions has worried life insurers, who will find it difficult to tap rural India with this requirement.
Chennai and Ennore ports are set to become hub for car exports from South India. After Hyundai, the two ports have started attracting global manufacturers like Renault SA, Nissan, and Ford.
The rapidly growing banking, financial and services industry sector in India is expected to create about a million jobs every year for the next five years
After developing bancassurance channels, which banks use to sell insurance products, the latest buzzword among insurance companies is "shopassurance" - selling insurance through supermarkets and retail chains.
Most policies attached to co-branded cards to lure customers.
Insurance companies are banking in on health insurance, as it promises to be Rs 25,000-cr industry by 2010.
This year, at least eight public sector banks are set to scrap their existing Bancassurance tie-ups with insurers. They are: Bank of India, Union Bank, Karnataka Bank, Allahabad Bank, Indian Overseas Bank, Bank of Maharashtra and Federal Bank.
But not before the concept clears regulatory roadblocks.
Every year Gujarat is seeing a growth of 230 per cent in terms of people opting for golf as a leisure activity, or even professionally at times.
With the consolidation process in the ISP industry happening all around, it is giving an impetus to players to move into the latest operations in Internet technology business.
The US-based Fuel Cell Energy, which is into developing and marketing of fuel cell power plants that generate electricity with higher efficiency, will be investing $100 million in India for setting up infrastructure for fuel cell power plants.
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