The bank plans to raise unsecured and rated Rupee Innovative Perpetual Debt Instruments, upper Tier or Lower Tier II subordinated debt during the remaining part of 2008-09 and 2009-10, SBI said in a filling to the National Stock Exchange. The fund not exceeding Rs 18,000 crore (Rs 180 billion) would be raised in tranches with a minimum maturity of over 60 months as per the RBI guidelines through structured deals or by private placement, it said.
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.
Vijay Mallya-promoted Kingfisher Airlines plans to launch more flights on new routes in its summer schedule, beginning March besides introducing services connecting Tier-II cities in the western and southern regions.
The government has created a comprehensive budget with sharp focus on sustaining economic activity and investment but more clarity is needed on areas like taxation framework for adopting remote working on a long-term basis, IT body Nasscom said on Monday. The industry association noted that the IT/ITeS (Information Technology-enabled Services) industry has been a key driver of growth and jobs in 2020 and there is an opportunity to significantly accelerate it further. "For the IT sector, one of the biggest needs ahead of us is the development of future business models, with hybrid working becoming a reality. "We look forward for the government to provide clarity on providing a framework in direct taxes and indirect taxes for the industry to adopt WFH/remote working on a long-term basis," Nasscom said in a statement.
Expressing commitment to augment the country's infrastructure, Finance Minister Nirmala Sitharaman on Monday proposed to significantly enhance capital expenditure to Rs 5.54 lakh crore in the next fiscal, besides creating institutional structures and giving a big thrust to monetizing assets to achieve the goals of the National Infrastructure Pipeline (NIP). Sitharaman said NIP, that was launched in December 2019 with 6,835 projects, has now been expanded to 7,400 projects and around 217 projects worth Rs 1.10 lakh crore under some key infrastructure ministries have been completed. "For 2021-22, I propose a sharp increase in capital expenditure and thus have provided Rs 5.54 lakh crores which is 34.5% more than the BE of 2020-21," the finance minister said.
Unlike IT services companies, which require a large workforce, an average semiconductor design firm needs 150 engineers
With growth in mobility and mobile penetration levels in tier II and III towns and cities, Microsoft India is looking at a larger chunk of its mobility business from these regions.
BCCI has reacted sharply to the Committee of Administrators red-flagging a proposed Day/Night Test match against the West Indies in October despite positive feedback from national chief coach Ravi Shastri.
Under its IT/ITeS SEZ development plan, Electronic Corporation of Tamil Nadu (Elcot) is setting up nine IT SEZs in Tamil Nadu, developing 1 million sq ft space at an estimated cost of Rs 28,000-30,000 crore (Rs 280-300 billion) - one each at Perumbakkam village and Sholinganallur near Chennai, two in Madurai, and one each at Tiruchirapalli (Trichy), Krishnagiri, Salem, Coimbatore and Tirunelveli.
Govt announces policy aimed at enhancing connectivity between Tier II and Tier III cities.
Venus and Serena Williams kept up their semi-final date with commanding victories over Vera Zvonareva and Anastasia Rodionova respectively at the WTA Tier II Bangalore Open on Friday. Venus won 6-4, 6-3, while Serena was through at 6-1, 6-4.
India's plant-based meat market is estimated at $30-40 million, largely driven by consumer packaged food. The market size in India is likely to touch $500 million in three years.
Disclosing her non-participation in the week-long tournament, beginning March 3, Tournament Director R Sunder Raju said no reason had been ascribed by the Indian ace for not participating.
The 26-year-old American, winner of eight Grand Slam titles, had pulled out of the event last year due to illness.
Investment by NRIs in these instruments will be in accordance with the extant policy for investment by NRIs in other debt instruments. \n
The rising rupee has become a major cause for concern among software exports firms. The IT industry, especially tier-II firms, which are not adequately hedged, will take a hit.
Sania Mirza's campaign at the LA Classic ended after her American partner Bethanie Mattek had to pull out of the doubles semis with a back injury.
Sania Mirza and Bethanie Mattek overcame a fighting Russian pair of Elena Vesnina and Vera Zvonareva to book a semi-final berth in the US $ 600,000 WTA East West Bank Classic tournament in Los Angeles. The Indo-American pair, seeded second, pipped the Russian duo 6-3, 1-6, 10-8 in one hour and 14 minutes in the quarter-finals of the Tier II hard court event on Friday night.
Despite rising salaries, the country can sustain the cost advantage for another 10-15 years.
There was simply no end to Sania Mirza's misery in the WTA Bank of the West Classic tennis tournament as after her misadventure in the singles event, the Indian ace made a first round exit from doubles as well. Sania and her Russian partner Anna Chakvetadze were brushed aside by the unheralded Czech pair of Eva Hrdinova and Vladimira Uhlirova 6-3 6-4 in the Tier II event in Stanford.
Sania Mirza's woeful run of form continued as the Indian ace crashed out of the WTA Bank of the West Classic tournament after a straight sets defeat in the opening round at the hands of British qualifier Anne Keothavong in Stanford on Tuesday night. The world number 33 Sania went down 6-7 (4), 1-6 to 83rd ranked Keothavong in a one-hour-twenty-minute contest of the Tier II US $ 600,000 event.
Visa International, the world's leading payment brand, has achieved record card sales volume of $26 billion in India during the year ending September, 2005, while targeting small towns to develop the cashless payment industry.
WNS, for instance, has 1,200 people in Nashik, a tier II city. It is looking at expanding its presence in tier II cities.
The pandemic and social distancing have forced umpteen changes in our lives. The way people date is yet another one of them.
Tier-II cities are all set to witness good retail growth in near future.
According to Suman Srivastava, CEO, Euro RSCG India, "Contrary to common belief that trends begin in big cities and trickle down to smaller towns, we are seeing that some trends are bubbling up from the tier II cities."
The Nasdaq-listed company started selling books online just two months back and has collected good revenue so far. It has made a catalogue of 1.7 million books for its portal, which would caters to all the age groups.
The commercial real estate sector has been booming in the last few years, driven by the high demand from corporates, especially IT and ITeS companies.
Bangalore-based US Pizza Restaurants, which sells the fast food under the brand name US Pizza, will invest more than Rs 500 crore (Rs 5 billion) to open over 1,000 outlets by 2011 for a pan-India expansion.US Pizza is also planning to open more than 40-45 outlets in European countries such as Norway, Sweden, Germany and France and in domestic front, it is planning to enter a new city every month as they are looking to tap new markets by entering tier-II and tier-III cities.
The committee has recommended Rs 8,000-10,000, Rs 13,000-15,000, and Rs 15,000-18,000 including PPE costs for isolation beds, and ICUs with or without ventilator, respectively, to all hospitals. Currently, hospitals are charging Rs 24,000-25,000, Rs 34,000-43,000 & Rs 44,000-54,000 (excluding PPE cost).
Pantaloon Retail (India) is planning to more than double the Big Bazaar stores to reach the 100-mark from the present 41 stores, while substantially increasing its presence in the South besides tier-II cities.
The writing was on the wall only a couple of games into the match. Patty Schnyder had come with a specific game plan and she executed it to perfection. The fourth seeded Swiss beat China's Zi Yan 6-3, 6-4 in an hour and 15 minutes to advance to the final of the WTA Tier II Bangalore Open on Saturday.
The best was saved for the last. After a day of mundane action and lopsided contests, China's Zi Yan showed tremendous grit to save three match points and oust eighth seed Maria Kirilenko in the first round of the WTA Tier II Bangalore Open on Tuesday night.
Top seed Jelena Jankovic and Venus Williams expressed disappointment with Sania Mirza's withdrawal from the Tier II Bangalore Open.
The Indian had made the first round exit at the Tier I tournament at Key Biscayne in Miami last week.
India's Isha Lakhani has been given a wild card entry to participate in the $ 600,000 Bangalore Open, kicking off in the Karnataka capital on March 3.
