BENGALURU: The Indian government had 606.05 billion rupees ($8.53 billion) of outstanding loans with the central bank under ways and means advances in the week ended Jan. 10, according to the Reserve Bank of India's weekly statistical supplement released on Friday.
New York, Jan 16, 2020 -Struggling apparel company Gap on Thursday spiked a plan to spin off its Old Navy brand while the company seeks to replace its ousted CEO.
Alarmed by the risk that the telecom AGR (adjusted gross revenue) mess has created for a large bank exposure, the Reserve Bank of India (RBI) has requested the government to provide some relief to the telecom players on clearance of the dues.
Garments and made-ups exported between March 7 and December 31, 2019 will get a special one-time additional ad-hoc incentive of up to 1% of FoB (free on board) value.
The government has decided to scrap incentives for the garment and made-ups sector under a key programme — the Merchandise Exports from India Scheme (MEIS) — retrospectively from March 7, 2019, dealing a deadly blow to cash-starved exporters, who warn that the already-faltering outbound shipments of apparels could plunge further to around 10% in the last quarter of the fiscal, against a 0.8% rise in the April-December period.
ISLAMABAD - Pakistan’s textile exports have recorded growth of 3.94 percent in first six months (July to December) of the ongoing financial year (FY20) mainly due to cash support to various sectors and currency depreciation.