To help manufacturers of low value products to reduce cost of production, the government should promote large scale apparel manufacturing by incentivising medium-sized firms to scale up to large-sized, the Indian Texpreneurs Federation (ITF) has said. In FY 2018-19, twenty per cent of the items in high volume products basket were priced below $3 per apparel.
With reference to ‘RBI Governor expects to lower lending rates’ (July 9), wherein it was mentioned that ₹1.34 lakh crore window is made available to banks under facility to avail liquidity for liquidity coverage ratio (FALLCR). There is a growing opinion that banks can make use of this facility and increase their exposure to NBFCs. This is not true.
NEW DELHI: The country's largest bank, the State Bank of IndiaNSE -0.49 %, has been found flouting several rules in its attempt to cover up non-performing assets (NPAs), according to the RBI's annual inspection report.
MUMBAI: Formation Textile, the US-based winning bidder of Mandhana Industries NSE 0.00 %, has alleged that lenders to the company led by Bank of Baroda NSE -0.24 % as well as its resolution professional have acted fraudulently during the insolvency process by hiding facts to get a higher offer for the assets.
In a blow to apparel exporters, the EU, Bangladesh’s largest export destination, has extended duty-free access to Vietnam, eliminating the competitive edge that the country held over its biggest rival in the trade.
THIRUVANANTHAPURAM: With an aim to increase tax collection by 30%, the state GST department is gearing up for raids and assessment drives.