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NEW DELHI: The Textiles Ministry requires an additional Rs 1,884 crore to clear the subsidy dues of 2009 under the Technology Upgradation Fund
Scheme (TUFS).
Under the TUFS, the government provides five per cent subsidy on purchase of capital goods and technology.
"To clear the subsidy till December 2009, we will be requiring additional amount of Rs 1,884 crore at revised estimates of 2009-10," Textiles Minister Dayanidhi Maran said at the Parliamentary Consultative Committee of his Ministry yesterday.
Maran said a provision of Rs 2,890 crore has been made for disbursement under the scheme, while Rs 2,546 was released in the first week of August.
The ministry has disbursed Rs 66,275 crore under the scheme from the day of its inception on April 1, 1999 till June 30, 2009.
Tamil Nadu, Punjab, Gujarat, Maharashtra and Rajasthan are the major beneficiaries of the scheme, as these states have potential textiles growth centres.
Maran further said the National Textile Corporation (NTC) has come out of the red and has drawn a plan to achieve a turnover of Rs 2,014 crore by 2014 from Rs 524 crore in 2008-09.
He said in coming days three modernized mills of NTC at Mumbai and 4 mills in Kerala at Trissur, Thiruvanthapuram and Kannur would be inaugurated.
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MUMBAI: Mastercard is scouting for new opportunities in India. The payments company is eyeing the $50-billion inward remittance market and is also
registering its presence in mobile banking.
Some banks have joined hands with MasterCard for an inward-remittance product which will allow a worker based in say the UAE to send money to India using his MasterCard. The money transferred will be credited to a MasterCard account in India, which can be either a debit or a credit card account. “In this case, customers on both sides have bank accounts. The transactions can be done on a real time basis and we can provide the service at a much cheaper cost. Also checks and controls can be maintained,” points Joshua L Peirez, group executive, innovative platforms, MasterCard.
Globally, India is the largest recipient of inward remittances which is effected through money transfer agents and banks. Banks take around a day to a month, depending on the choice of service. MasterCard, currently, has this remittance product in 18 countries, across South East Asia, the Middle East and the US.
MasterCard is also betting on mobile banking picking up in the country. It already has launched a mobile product in the US where a customer using his mobile can transfer money to any other mobile within minutes. The telephone number, however, is the unique ID number. It also supports an SMS-based system. MasterCard plans to launch this product in other countries, too, depending on regulatory approval.
MasterCard which came out with its third quarter results, on Thursday, said that India saw a growth of 49% on dollar value and 31% rise in the number of cards compared with the year before.
MasterCard along with Citi, Nokia and Vodafone are doing a pilot project in Bangalore where customers can use their mobiles to make contactless payments via RFID. The contactless payment platform will be enabled through a chip on the phone itself, which will enable the customer to make a payment without having to swipe a card.
This will, ofcourse, require the merchants to install a separate RFID-detecting device on their POS machines, which will read the chip. “RFID systems are being tested across the world, but in India where costs are an issue, it is unlikely that such a system will take off. I am definitely not a big fan of this particular technology,” said Ajay Adiseshann, MD and founder of PayMate, a leading mobile-payments provider in India.
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brainchild- Warren Buffett the owner of Berkshire Hathaway has decided to fork out a massive US$ 44 bn to buy the US rail road giant Burlington Northern Santa Fe Corp.I wish hinm all the success!!...
While some investors may still be sitting on the fence, the one investor who`s making full use of the current market conditions is the Oracle of Omaha, Warren Buffett. In a deal that could make its earlier investments in securities of companies like Goldman Sachs and GE look like peanuts, his cola to insurance conglomerate Berkshire Hathaway has decided to fork out a massive US$ 44 bn to buy the US rail road giant Burlington Northern Santa Fe Corp. This also makes it his biggest deal so far, trouncing the US$ 22 bn purchase of General Re back in 1998. It should be noted that Buffett already owns a small stake in the company. Indeed, as he himself described, the deal is an all-in wager on economic future of the United States.
For a man who wouldn`t touch anything that does not have a sustainable competitive advantage, the rail road giant must surely be having something going for it. And if we were to follow his earlier rationale of buying a part stake in the rail road giant back then, he had mentioned that trains had started to become more competitive against trucks in the backdrop of higher fuel prices. Also, since it is very difficult right now for a new entrant to build railroads, the incumbent players can have all the market to themselves. Hmm, now that`s some long-term moat, isn`t it? Investors could do well to remember the master`s recent advice that equities will outperform cash over the next decade, probably by a substantial degree. Thus, while Buffett seems to be following it to the tee, investors in India will not do badly either by investing in stocks with good long-term fundamentals and available at attractive prices.
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Sent you link via PM
Only NIFTY stocks file is updated and recent
All others you have to update with today`s data
Too many files too many things to keep track, may not be everybody`s cup of tea.. however you may take a look and check it out....
Will you send me the files too??? I also wish to learn the same......
you should extract it coz they are all zipped files.
Maybe u have the old excel version or old microsoft office version.. my machine in my son`s office is state of the art so its newest version....
RN, Thanks a ton, but facing difficulty opening the files, the extn is .xlsx.
is this a .xls file?? how to open this please?...
Best book for trading are
TRADING FOR A LIVING by Alexander Elder
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pmg
Check your PM, i have sent the link...
Can any body recommend me the best intraday calls provider. Please help me out...
RN:
Request if you can please suggest any good book / forum to learn TA, thanks in anticipation.
Best Regards
Prasanna...
Kotakji,
Nice web site... your web master is good. Changing aspx almost monthly. Too, hard .
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Kotakinvest,
Thanks for such a nice message.
It saved my small profit which I booked after reading yourmessage. Else could have huge losses....
Kotak,
Thanks for warning about reality sector.
I sold all my holding and took fresh positions today which saved me from 35 % loss.
Thanks...
