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		<title>NRIs  remittances to India at record $63.6 bn: World Bank</title>
		<link>http://investmoneyinindia.com/4053/nris-remittances-to-india-at-record-63-6-bn-world-bank</link>
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		<pubDate>Wed, 02 May 2012 12:02:58 +0000</pubDate>
		<dc:creator>Malvika</dc:creator>
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		<description><![CDATA[Non-resident Indians (NRIs) have sent $ 63.6bn to India through remittances. Overseas Indians have sent more money than ever before. According to the World Bank, the increase in value of remittances is also due to a sharp fall in 2011 in the value of the rupee.
In 2010, India received $ 54bn in remittances. 
This is [...]<p>&copy;2009 Copyright by <strong><a href="http://investmoneyinindia.com" title="Invest In India"><strong>Invest In India</strong></a></p>
]]></description>
			<content:encoded><![CDATA[<p><span style="font-size: small;"><span style="font-family: Times New Roman;">Non-resident Indians (NRIs) have sent $ 63.6bn to India through remittances. Overseas Indians have sent more money than ever before. According to the World Bank, the increase in value of remittances is also due to a sharp fall in 2011 in the value of the rupee.</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">In 2010, India received $ 54bn in remittances. </span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">This is the highest amount of money sent by overseas nationals to any country, according to the World Bank data. India has been the largest recipient of remittances since 2008 when it surpassed China.</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">China received $62.5bn in overseas remittances in 2011.</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">An overseas remittance is the money sent back to families by migrant workers. Indians living in US, Europe and the Middle East sent money to their families in India. Same holds true for China, Philippines, Mexico, Pakistan and others.</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">“Worldwide remittance flows, including those to high-income countries, reached $501 billion in 2011 and are expected to increase to $615 billion by 2014,” World Bank release said.</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">The flow of money from NRIs is important in the context of the rising current account deficit that hurts India’s economy. India imports more than it exports.</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">These remittances account for about 3 per cent of India’s $ 2 trillion gross domestic product or GDP. To put things in perspective, India’s current account deficit is 3.7 per cent of GDP for the financial year ended March 2012. This is despite such a high inflow of funds from NRIs. Current account deficit occurs when a country imports more goods and services than exports.</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">India imported gold and silver worth $60 billion in 2011/12, pushing up the trade deficit to near $185 billion.</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">Experts say that India needs to boost foreign investment to finance this deficit.</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">The high current account deficit is seen negatively by international investors. Standard &amp; Poor’s, a global credit rating agency, downgraded India’s economic outlook to negative from stable. The International Monetary Fund on Friday cut India’s growth forecast to 6.9 per cent from 7 per cent 2012-13</span></span></p>
<p>Source – NDTV Profit<br />
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<h4>Incoming search terms:</h4><ul><li><a href="http://investmoneyinindia.com/4053/nris-remittances-to-india-at-record-63-6-bn-world-bank" title="www research report about difference between islamic investment banking and convection investment banking">www research report about difference between islamic investment banking and convection investment banking</a></li><li><a href="http://investmoneyinindia.com/4053/nris-remittances-to-india-at-record-63-6-bn-world-bank" title="nri money flow india">nri money flow india</a></li><li><a href="http://investmoneyinindia.com/4053/nris-remittances-to-india-at-record-63-6-bn-world-bank" title="india and worldbank">india and worldbank</a></li><li><a href="http://investmoneyinindia.com/4053/nris-remittances-to-india-at-record-63-6-bn-world-bank" title="india location:georgia">india location:georgia</a></li><li><a href="http://investmoneyinindia.com/4053/nris-remittances-to-india-at-record-63-6-bn-world-bank" title="nri remmitance to india">nri remmitance to india</a></li><li><a href="http://investmoneyinindia.com/4053/nris-remittances-to-india-at-record-63-6-bn-world-bank" title="nri world bank statestics">nri world bank statestics</a></li><li><a href="http://investmoneyinindia.com/4053/nris-remittances-to-india-at-record-63-6-bn-world-bank" title="pakistan gdp">pakistan gdp</a></li><li><a href="http://investmoneyinindia.com/4053/nris-remittances-to-india-at-record-63-6-bn-world-bank" title="pakistan remittance">pakistan remittance</a></li><li><a href="http://investmoneyinindia.com/4053/nris-remittances-to-india-at-record-63-6-bn-world-bank" title="pakistan remittances">pakistan remittances</a></li><li><a href="http://investmoneyinindia.com/4053/nris-remittances-to-india-at-record-63-6-bn-world-bank" title="philippines investment">philippines investment</a></li></ul>]]></content:encoded>
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		<title>India in danger of losing BRIC Status?</title>
		<link>http://investmoneyinindia.com/4049/india-in-danger-of-losing-bric-status</link>
		<comments>http://investmoneyinindia.com/4049/india-in-danger-of-losing-bric-status#comments</comments>
		<pubDate>Wed, 02 May 2012 11:58:23 +0000</pubDate>
		<dc:creator>Malvika</dc:creator>
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		<description><![CDATA[Standard &#38; Poor&#8217;s (S&#38;P) credit analyst Takahira Ogawa listened politely as Indian govt officials at the finance ministry made an hour-long pitch for a ratings upgrade, citing economic growth prospects, revenues and their efforts to contain the government&#8217;s fiscal deficit.
At the meeting two weeks ago, officials argued that tax returns were rising and debt levels [...]<p>&copy;2009 Copyright by <strong><a href="http://investmoneyinindia.com" title="Invest In India"><strong>Invest In India</strong></a></p>
]]></description>
			<content:encoded><![CDATA[<p>Standard &amp; Poor&#8217;s (S&amp;P) credit analyst Takahira Ogawa listened politely as Indian govt officials at the finance ministry made an hour-long pitch for a ratings upgrade, citing economic growth prospects, revenues and their efforts to contain the government&#8217;s fiscal deficit.</p>
<p>At the meeting two weeks ago, officials argued that tax returns were rising and debt levels were on the decline compared to gross domestic product, two officials who were at the meeting revealed.</p>
<p>&nbsp;</p>
<p>Singapore-based Ogawa gave no sign of what he was thinking &#8211; and could not immediately be reached for his version of events &#8211; but evidently he left unconvinced.</p>
<p>On Wednesday, the ratings agency cut its outlook on India&#8217;s BBB- rating to negative from stable and warned it had a one-in-three chance of losing investment-grade status, sending shockwaves through the ministry. Its decision could raise costs for Indian borrowers and undermine foreign investor confidence in Asia&#8217;s third-largest economy.</p>
<p>We were not expecting this downgrade, one senior adviser at the ministry said.</p>
<p>&nbsp;</p>
<p>The misplaced optimism before the cut suggest the finance ministry may be out of touch with opinion among private economists, investors and even the central bank about the faltering economy. But it also reflects the view in New Delhi that India is unfairly saddled with a low sovereign rating.</p>
<p>In February, the finance ministry&#8217;s chief economic adviser Kaushik Basu complained that India&#8217;s fast growth was not reflected in global agencies&#8217; ratings. In relative terms, India has become a better investment destination, Basu said.</p>
<p>&nbsp;</p>
<p>As the news broke, top finance ministry officials huddled in their offices, eyes glued to monitors and television screens for signs of an investor exodus from the markets.</p>
<p>India has lost some of its shine recently. After growing at an enviable average <a href="mortgage" class="kblinker" title="More about rate &raquo;">rate</a> of more than 8 percent annually for the previous five years, it expanded less than 7 percent in the last fiscal year, its slowest pace in three years.</p>
<p>&nbsp;</p>
<p>Source &#8211; Agencies<br />
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<h4>Incoming search terms:</h4><ul><li><a href="http://investmoneyinindia.com/4049/india-in-danger-of-losing-bric-status" title="bric">bric</a></li><li><a href="http://investmoneyinindia.com/4049/india-in-danger-of-losing-bric-status" title="bric india">bric india</a></li><li><a href="http://investmoneyinindia.com/4049/india-in-danger-of-losing-bric-status" title="economic prospects for india">economic prospects for india</a></li><li><a href="http://investmoneyinindia.com/4049/india-in-danger-of-losing-bric-status" title="fiscal deficit and debt in brics">fiscal deficit and debt in brics</a></li><li><a href="http://investmoneyinindia.com/4049/india-in-danger-of-losing-bric-status" title="india bric">india bric</a></li><li><a href="http://investmoneyinindia.com/4049/india-in-danger-of-losing-bric-status" title="india bric status">india bric status</a></li><li><a href="http://investmoneyinindia.com/4049/india-in-danger-of-losing-bric-status" title="india deficit">india deficit</a></li><li><a href="http://investmoneyinindia.com/4049/india-in-danger-of-losing-bric-status" title="india losing i status in the bric">india losing i status in the bric</a></li><li><a href="http://investmoneyinindia.com/4049/india-in-danger-of-losing-bric-status" title="investor india exsodus">investor india exsodus</a></li></ul>]]></content:encoded>
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		<title>India Inc puts its might behind innovations</title>
		<link>http://investmoneyinindia.com/4046/india-inc-puts-its-might-behind-innovations</link>
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		<pubDate>Wed, 02 May 2012 11:52:15 +0000</pubDate>
		<dc:creator>Malvika</dc:creator>
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		<description><![CDATA[It is a problem that confronts most steel makers, but few have been able to work round it. The one who has is Tata Steel. The Rs 29,396-crore steel major is piloting a technology at Vizag in Andhra Pradesh that will help it reduce wastage when it removes the ash content from coal mines. The [...]<p>&copy;2009 Copyright by <strong><a href="http://investmoneyinindia.com" title="Invest In India"><strong>Invest In India</strong></a></p>
]]></description>
			<content:encoded><![CDATA[<p>It is a problem that confronts most steel makers, but few have been able to work round it. The one who has is Tata Steel. The Rs 29,396-crore steel major is piloting a technology at Vizag in Andhra Pradesh that will help it reduce wastage when it removes the ash content from coal mines. The issue can be put in perspective when the ash content in Indian coal is noted: it is almost 35 per cent, which makes it unusable as a raw material for steel. To tide over this problem, most steel makers import high-grade coal from countries such as Australia. Tata Steel, which was feted for its technology at the 2012 edition of Tata Innovista (awards that recognise innovations within the Tata Group), is looking to cut imports once it is commercialised in three to four years.</p>
<p>The Mumbai-headquartered company, whose largest plant is located at Jamshedpur in Jharkhand, is not the only one to be devoting its attention to break-through technology of late. Information technology company Tata Consultancy Services (TCS) has rolled out a new software for farmers in Maharashtra and Gujarat that allows them to have easy access to information that counts, whether it is about the arrival of the monsoons, soil quality or pest control. Called Samriddh Krishi, TCS has collaborated with Tata Chemicals for the project, and the rollout, according to R Gopalakrishnan, director, Tata Sons, will be expanded over time.</p>
<p>Here is another example of clutter-breaking work: Tata Chemicals, the maker of Tata Salt, the largest table salt in India, has just launched an iron fortified salt. Now table salt is packed with iodine, which is a vital nutrient. But recognising that Indians also grapple with the problem of iron deficiency, the agro-chemical major tied up with the Hyderabad-based National Insitute of Nutrition to launch Tata Salt Plus this month. “This is the first time that an iron-fortified salt has been launched in India,” points out Gopalakrishnan.</p>
<p>The work that group companies within the Rs 4.15-lakh-crore (or $83-billion) Tata conglomerate are doing is part of a system that was put in place almost seven years ago. Recognising the need to harness creative ideas and solutions, the group formed a total quality management services division under holding company Tata Sons that, among other things, actively promotes innovations.</p>
<p>The group, which is eying a turnover of Rs 26 lakh crore (or $500 billion) by 2020, also instituted the Innovista Awards to help recognise good innovations. Besides this, the group also attempted to recognise those innovations that dared to try, basically ideas, which though attempted seriously, turned out to be failures.</p>
<p>Source – Business Standard<br />
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		<title>Indian empowered US economy in recession</title>
		<link>http://investmoneyinindia.com/4042/indian-empowered-us-economy-in-recession</link>
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		<pubDate>Thu, 26 Apr 2012 08:46:24 +0000</pubDate>
		<dc:creator>Ziaulla Namani</dc:creator>
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		<description><![CDATA[Applauding the role of Indian companies in stimulating US economy and creating jobs during the tough days of economic recession, top American lawmakers, cutting across party lines, pledged to strengthen economic ties between the two countries.
In a rare show of solidarity, more than 20 top American lawmakers turned up for a Capitol Hill reception organised [...]<p>&copy;2009 Copyright by <strong><a href="http://investmoneyinindia.com" title="Invest In India"><strong>Invest In India</strong></a></p>
]]></description>
			<content:encoded><![CDATA[<p>Applauding the role of Indian companies in stimulating US economy and creating jobs during the tough days of economic recession, top American lawmakers, cutting across party lines, pledged to strengthen economic ties between the two countries.</p>
<p>In a rare show of solidarity, more than 20 top American lawmakers turned up for a Capitol Hill reception organised by the Confederation of Indian Industry (CII).</p>
<p>The reception was organised to release the report &#8216;Indian Roots: American Soil&#8217;.</p>
<p>&#8220;This survey confirms that Indian companies are key drivers of US job creation and economic activity,&#8221; said Senator Mark Warner, co-chair of Senate India Caucus.</p>
<p>&#8220;I am excited about the growing number of R&amp;D partnerships with US colleges and universities, and the high level of involvement of Indian firms with community-based non-profit organisations,&#8221; Warner said.</p>
<p>According to the CII report, the surveyed companies operate in 40 states and the District of Columbia, and 70 per cent have increased the number of employees since 2005, despite the US economic downturn.</p>
<p>More than 34 per cent of the surveyed companies have established manufacturing facilities in the US, investing more than USD 820 million in those facilities, the report said.</p>
<p>Since 2005, the surveyed companies have collectively conducted 72 mergers and acquisitions in the US, saving, creating and sustaining thousands of jobs the report said, adding that the projected research and development investments of the surveyed companies are estimated to be over $190 million in 2012 alone.</p>
<p>According to the report, nearly 65 percent of companies surveyed engage in Corporate Social Responsibility (CSR) initiatives, including programs that support 27 universities, community colleges and high schools in developing curriculum, establishing training programs and encouraging Science-Technology-<wbr>Engineering-Mathematics (STEM) education.</wbr></p>
<p>Applauding the role of Indian companies in the US, lawmakers praised the role of companies like Tata and Wipro in employment generation.</p>
<p>Source &#8211; Agencies<br />
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		<title>Private airlines owe a total of Rs 14,573 crore to PSUs</title>
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		<pubDate>Wed, 25 Apr 2012 07:28:09 +0000</pubDate>
		<dc:creator>Ziaulla Namani</dc:creator>
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		<description><![CDATA[The Financial crunch faced by the Indian Airlines is affecting the Banks of government of Indian Undertaking.
&#160;
In a reply to the Rajya Sabha by finance minster of state the amount due are outstanding.
&#160;
It is learnt that private airlines owe a total of Rs 14,573 crore to state-run banks, with loss making air carriers Kingfisher Airlines [...]<p>&copy;2009 Copyright by <strong><a href="http://investmoneyinindia.com" title="Invest In India"><strong>Invest In India</strong></a></p>
]]></description>
			<content:encoded><![CDATA[<p>The Financial crunch faced by the Indian Airlines is affecting the Banks of government of Indian Undertaking.</p>
<p>&nbsp;</p>
<p>In a reply to the Rajya Sabha by finance minster of state the amount due are outstanding.</p>
<p>&nbsp;</p>
<p>It is learnt that private airlines owe a total of Rs 14,573 crore to state-run banks, with loss making air carriers Kingfisher Airlines and Jet Airways together accounting for almost 80 per cent of the outstanding as on the second quarter of 2011-12.</p>
<p>&nbsp;</p>
<p>While country&#8217;s second largest airline Jet Airways owes Rs 5,899 crore to public banks, the outstanding amount of struggling air carrier Kingfisher Airlines is Rs 5,748 crore, Minister of State for Finance Namo Narain Meena said in a written reply to the Rajya Sabha.</p>
<p>&nbsp;</p>
<p>He was giving details of total <a href="http://everythingfinanceblog.com/offers/capwest" class="kblinker" title="More about loan &raquo;">loans</a> given to private airlines as on the second quarter of last fiscal.</p>
<p>One being asked if State Bank of India, leader of consortium of lenders to debt-strapped Kingfisher Airlines, plans to lend more to the company, Meena said the lender &#8220;has not extended any further relief to Kingfisher Airlines&#8221;.</p>
<p>&nbsp;</p>
<p>Kingfisher Airlines has a debt of Rs 7,057.08 crore and the financial crunch has hit its operations with dozens of flights being either cancelled or clubbed.</p>
<p>&nbsp;</p>
<p>Source &#8211; PTI<br />
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		<title>An Indian making waves in Gulf commerce industry</title>
		<link>http://investmoneyinindia.com/4034/an-indian-making-waves-in-gulf-commerce-industry</link>
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		<pubDate>Tue, 24 Apr 2012 08:30:47 +0000</pubDate>
		<dc:creator>Ziaulla Namani</dc:creator>
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		<description><![CDATA[Kerala-born M. A. Yusuffali is today dubbed as one of the most influential Indians in the Gulf Cooperation Council (GCC), a political and economic alliance of six Middle Eastern countries &#8211; Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman.
He is the first non-Arab elected member of Abu Dhabi Chamber of Commerce and [...]<p>&copy;2009 Copyright by <strong><a href="http://investmoneyinindia.com" title="Invest In India"><strong>Invest In India</strong></a></p>
]]></description>
			<content:encoded><![CDATA[<p><span style="font-family: Times New Roman; font-size: small;">Kerala-born M. A. Yusuffali is today dubbed as one of the most influential Indians in the Gulf Cooperation Council (GCC), a political and economic alliance of six Middle Eastern countries &#8211; Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman.</span></p>
<p><span style="font-family: Times New Roman; font-size: small;">He is the first non-Arab elected member of Abu Dhabi Chamber of Commerce and Industry, Khaleej Times reported. </span></p>
<p><span style="font-family: Times New Roman; font-size: small;">The Thrissur-born Yusuffali is managing director of the Middle East&#8217;s retail giant Emke Lulu Group. The group is all set to register a 20 percent business growth this year, hitting $5.4 billion as the UAE&#8217;s <a href="http://everythingfinanceblog.com/offers/capwest" class="kblinker" title="More about home &raquo;">home</a>-grown regional brand expanded outlets to 100 with the opening of a hypermarket at its newly built mall last week. </span></p>
<p><span style="font-family: Times New Roman; font-size: small;">Lulu, which started out as supermarket and department store chain, has gradually moved onto to the big format hypermarkets (retail store that combines a department store and a grocery supermarket), and now manages 10 shopping malls in the GCC, said Yusuffali. </span></p>
<p><span style="font-family: Times New Roman; font-size: small;">The retail major, accounting for 32 percent of the retail business within the GCC, cruised to a 19 percent sales growth in 2011 to $4.5 billion despite the general downturn.</span></p>
<p><span style="font-family: Times New Roman; font-size: small;">Yusuffali said despite the global financial meltdown and industry-wide recession, the Lulu Group has gone ahead with its plan. It opened 23 hypermarkets and shopping malls in last three years in almost all major cities of the GCC.</span></p>
<p><span style="font-family: Times New Roman; font-size: small;">Speaking to reporters over the weekend, Yusuffali said Lulu brand&#8217;s success story would continue apace with the opening of more outlets in the Middle East and India this year. </span></p>
<p><span style="font-family: Times New Roman; font-size: small;">He said the retail major would have four new stores in 2012 in the GCC and Egypt and would make a retail foray into India with the opening of a hypermarket by end-2012.</span></p>
<p><span style="font-family: Times New Roman; font-size: small;">The group&#8217;s next move is to launch a &#8220;Webstore&#8221;.</span></p>
<p><span style="font-family: Times New Roman; font-size: small;">&#8220;One of the most popular and recognised local brands of the region, Lulu today is a market leader in almost all the countries that they operate,&#8221; he said</span></p>
<p><span style="font-family: Calibri; font-size: small;">Source &#8211; IANS</span><br />
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		<title>Indian second most confident about her economy</title>
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		<pubDate>Tue, 24 Apr 2012 08:24:57 +0000</pubDate>
		<dc:creator>Ziaulla Namani</dc:creator>
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		<description><![CDATA[Indians continue to be among the world&#8217;s most confident people about their economy on account of moderating inflationary pressure and the easing of tight money policy stance of the Reserve Bank, says a report.
According to global research firm Ipsos, India has emerged as the second most economically confident nation for the second consecutive time.
India&#8217;s economic [...]<p>&copy;2009 Copyright by <strong><a href="http://investmoneyinindia.com" title="Invest In India"><strong>Invest In India</strong></a></p>
]]></description>
			<content:encoded><![CDATA[<p><span style="font-size: small;"><span style="font-family: Times New Roman;">Indians continue to be among the world&#8217;s most confident people about their economy on account of moderating inflationary pressure and the easing of tight money policy stance of the Reserve Bank, says a report.</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">According to global research firm Ipsos, India has emerged as the second most economically confident nation for the second consecutive time.</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">India&#8217;s economic confidence jumped by five points to 75 per cent in March compared to the previous month, to retain the second most economically confident nation title after Saudi Arabia which tops the table with 89 per cent.</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">China is the third most economically confident country, where 71 per cent are optimistic about their economy, followed by Sweden (70 per cent), Germany (68 per cent), Canada (64 per cent) and Australia (62 per cent).</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">&#8220;India has overtaken Japan to become the third-largest economy in terms of purchasing power parity (as per IMF report) and is heading for accelerated growth, following RBI cutting repo <a href="mortgage" class="kblinker" title="More about rate &raquo;">rate</a> by 50 bps and inflation moderating to acceptable level,&#8221; Ipsos India CEO Mick Gordon said.</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">&#8220;This should provide some confidence to the overall sentiments and help in stimulating investment. If the inflation momentum eases in near future, it will give RBI more room to cut rates further to boost investments and growth,&#8221; he added.</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">More than half of Indian citizens (56 per cent) believe their economy, which impacts their personal finances, is good and 57 per cent people expect that the economy in their local area will be stronger in the next six months, the report said.</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">Looking ahead, 34 per cent global citizens surveyed said their local economy would be stronger six months from now. The natives of Brazil are the quite optimistic about the state of their economy in the next six months, followed by Saudi Arabia and India.</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">The survey was conducted in March this year among nearly 19, 000 people in 24 countries.</span></span></p>
<p><span style="font-size: small;"><span style="font-family: Times New Roman;">Source &#8211; PTI</span></span><br />
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		<title>India to be world&#8217;s 3rd largest energy user: Shinde</title>
		<link>http://investmoneyinindia.com/4028/india-to-be-worlds-3rd-largest-energy-user-shinde</link>
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		<pubDate>Sun, 22 Apr 2012 07:52:57 +0000</pubDate>
		<dc:creator>Ziaulla Namani</dc:creator>
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		<description><![CDATA[Power Minister Sushilkumar Shinde has said that India is projected to become the world&#8217;s third-largest energy consumer by 2020 after the US and China.
Speaking at the World Energy Leaders Summit in Istanbul, Shinde said India has conducive policy environment as well as regulatory framework for securing a sustainable energy future.
Noting that energy requirement is expected [...]<p>&copy;2009 Copyright by <strong><a href="http://investmoneyinindia.com" title="Invest In India"><strong>Invest In India</strong></a></p>
]]></description>
			<content:encoded><![CDATA[<p>Power Minister Sushilkumar Shinde has said that India is projected to become the world&#8217;s third-largest energy consumer by 2020 after the US and China.</p>
<p>Speaking at the World Energy Leaders Summit in Istanbul, Shinde said India has conducive policy environment as well as regulatory framework for securing a sustainable energy future.</p>
<p>Noting that energy requirement is expected to increase in the coming years, Shinde on Friday said India is projected to become third-largest energy consumer in the world by 2020.</p>
<p>Shinde said that a two-pronged strategy has been adopted to meet this challenge. It would look at augmenting domestic supply sources including renewable energy apart from focusing on demand-side management and energy efficiency measures, according to an official release.</p>
<p>Domestic capacities for building power plants with super critical and ultra-super critical technologies are also being established to reduce dependency on coal for power generation.</p>
<p>International players such as Mitsubishi, Toshiba, Hitachi, Alstom and Ansaldo have already started the process of partnering with Indian manufacturers to set up super critical manufacturing facilities in India, Shinde said.</p>
<p>The fast-growing Indian economy is grappling with acute power shortage. Estimates show that to achieve an economic growth of 9%, the country&#8217;s energy supply would need to rise 6.5% a year.</p>
<p>Source &#8211; PTI<br />
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		<title>India&#8217;s services exports grew 1.8 per cent to USD 11.23 billion</title>
		<link>http://investmoneyinindia.com/4020/indias-services-exports-grew-1-8-per-cent-to-usd-11-23-billion</link>
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		<pubDate>Sat, 21 Apr 2012 10:43:15 +0000</pubDate>
		<dc:creator>Ziaulla Namani</dc:creator>
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		<description><![CDATA[India&#8217;s services exports grew 1.8 per cent to USD 11.23 billion in February this fiscal over the previous month, the Reserve Bank said on Friday. Export of services were USD 11.02 billion in January.
With the RBI making available data for the penultimate month of 2011-12, total services exports during April-February has totalled USD 124.25 billion.
However, [...]<p>&copy;2009 Copyright by <strong><a href="http://investmoneyinindia.com" title="Invest In India"><strong>Invest In India</strong></a></p>
]]></description>
			<content:encoded><![CDATA[<p>India&#8217;s services exports grew 1.8 per cent to USD 11.23 billion in February this fiscal over the previous month, the Reserve Bank said on Friday. Export of services were USD 11.02 billion in January.</p>
<p>With the RBI making available data for the penultimate month of 2011-12, total services exports during April-February has totalled USD 124.25 billion.</p>
<p>However, the central bank said that the figures for January and February are provisional and &#8220;would undergo revision&#8221; when the Balance of Payment (BoP) data are released.</p>
<p>Services exports, as per the BoP data, were USD 102 billion during April-December 2011-12 as against USD 96.4 billion in the same nine months of the previous fiscal.</p>
<p>India&#8217;s major services export include computer, telecommunications and information services, construction services, and transport and travel services.</p>
<p>The services exports data has been released on a day, the government announced that country&#8217;s merchandise overseas shipments have crossed USD 300 billion mark in 2011-12.</p>
<p>The RBI data further revealed that the import of services declined in February to USD 6.75 billion from USD 7.33 billion in the previous month.</p>
<p>India&#8217;s outlfows on import of services during April-February have totalled USD 72.08 billion</p>
<p>Source &#8211; Agencies<br />
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		<title>Offer a &#8216;basic savings bank deposit accounts&#8217; without a minimum balance: RBI</title>
		<link>http://investmoneyinindia.com/4018/offer-a-basic-savings-bank-deposit-accounts-without-a-minimum-balance-rbi</link>
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		<pubDate>Sat, 21 Apr 2012 10:39:19 +0000</pubDate>
		<dc:creator>Ziaulla Namani</dc:creator>
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		<description><![CDATA[The Reserve Bank of India (RBI) has advised banks to offer all customers a &#8216;basic savings bank deposit accounts&#8217; which will not insist on a minimum balance.
&#8220;Banks are being advised to offer a &#8216;basic savings bank deposit account&#8217; with certain minimum common facilities and without the requirement of a minimum balance to all their customers,&#8221; [...]<p>&copy;2009 Copyright by <strong><a href="http://investmoneyinindia.com" title="Invest In India"><strong>Invest In India</strong></a></p>
]]></description>
			<content:encoded><![CDATA[<p>The Reserve Bank of India (RBI) has advised banks to offer all customers a &#8216;basic savings bank deposit accounts&#8217; which will not insist on a minimum balance.</p>
<p>&#8220;Banks are being advised to offer a &#8216;basic savings bank deposit account&#8217; with certain minimum common facilities and without the requirement of a minimum balance to all their customers,&#8221; the RBI said in its credit policy today.</p>
<p>However, the central bank did not disclose more about the &#8216;basic savings bank deposit account&#8217; in its policy statement.</p>
<p>As far as customers&#8217; savings accounts in banks are concerned, at present, minimum balance in the savings accounts varies from Rs 500 to Rs 25,000, depending upon the nature of the accounts. It is higher in case of most private and foreign banks.</p>
<p>RBI has also advised banks to initiate steps to allot a unique customer identification code (UCIC) number to all their customers.</p>
<p>RBI said financial inclusion has been high on its agenda. &#8220;The nomenclature of the account in this manner has tended to signify that these accounts are opened more with a view to indicating achievement of numerical targets under the financial inclusion plans,&#8221; it added.</p>
<p>Source &#8211; Agencies<br />
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		<title>State govt may seize assets of entrepreneurs, who have defaulted on loan repayment</title>
		<link>http://investmoneyinindia.com/4016/state-govt-may-seize-assets-of-entrepreneurs-who-have-defaulted-on-loan-repayment</link>
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		<pubDate>Sat, 21 Apr 2012 10:37:57 +0000</pubDate>
		<dc:creator>Ziaulla Namani</dc:creator>
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		<description><![CDATA[The state government is considering the option of seizing assets of entrepreneurs in Pune district who have defaulted on loan repayment to the Industries department. There are around 1,700 entrepreneurs who have availed themselves of the soft loans totalling around Rs 17 crore. Most of the defaulters are engaged in the service and manufacturing industry.
This [...]<p>&copy;2009 Copyright by <strong><a href="http://investmoneyinindia.com" title="Invest In India"><strong>Invest In India</strong></a></p>
]]></description>
			<content:encoded><![CDATA[<p>The state government is considering the option of seizing assets of entrepreneurs in Pune district who have defaulted on loan repayment to the Industries department. There are around 1,700 entrepreneurs who have availed themselves of the soft loans totalling around Rs 17 crore. Most of the defaulters are engaged in the service and manufacturing industry.</p>
<p>This comes after a recovery notice issued last year by the District Industries Centre (DIC), Pune, to some 600 entrepreneurs across a range of businesses including computer and mobile repairing services and manufacturing utilities in food processing, plastic and autocomponents. Some 423 of them started making the payments after the notice and recovery under the state government’s Seed Money Scheme improved with realization reaching Rs 1.17 crore against Rs 10-15 lakh per year earlier.</p>
<p>Officials, however, said it was not enough as the money to be repaid was significantly higher than recovery being made, which is why they are considering seizure of properties under the Revenue Recovery Code of 1967.</p>
<p>“We are contemplating seizure of properties of those not repaying the loan. We have also approached the Regional Transport Office (RTO) to prevent renewal of vehicle permits of such defaulters. We will begin seizure of property under the recovery code after involving the district collectorate in the process,” said General Manager DIC Pune, S S Survase. He added that the seizure move is being considered following heavy defaults.</p>
<p>Under the Seed Money scheme, people domiciled in the state and aged between 18 and 50 years are eligible for the 15 percent soft loan on a project cost upto Rs 25 lakh. The soft loan incurs simple <a href="http://everythingfinanceblog.com/offers/capwest" class="kblinker" title="More about interest &raquo;">interest</a> of only 6 percent for a period of 3 years as a concession for promotion of industrial activity.</p>
<p>&nbsp;</p>
<p>Source – Financial Express<br />
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		<title>India tops consumer confidence in Asia: Survey</title>
		<link>http://investmoneyinindia.com/4014/india-tops-consumer-confidence-in-asia-survey</link>
		<comments>http://investmoneyinindia.com/4014/india-tops-consumer-confidence-in-asia-survey#comments</comments>
		<pubDate>Sat, 21 Apr 2012 10:36:11 +0000</pubDate>
		<dc:creator>Ziaulla Namani</dc:creator>
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		<description><![CDATA[India has been ranked as the most optimistic nation in Asia in a global consumer confidence survey.
At 81.2, in an index which is calculated with zero as the most pessimistic 100 as the most optimistic, India was the leader of the pack in Asia, said MasterCard Worldwide Index of Consumer Confidence.
The index is based on [...]<p>&copy;2009 Copyright by <strong><a href="http://investmoneyinindia.com" title="Invest In India"><strong>Invest In India</strong></a></p>
]]></description>
			<content:encoded><![CDATA[<p>India has been ranked as the most optimistic nation in Asia in a global consumer confidence survey.</p>
<p>At 81.2, in an index which is calculated with zero as the most pessimistic 100 as the most optimistic, India was the leader of the pack in Asia, said MasterCard Worldwide Index of Consumer Confidence.</p>
<p>The index is based on a survey which measures consumer confidence on prevailing expectations in the market over the next six months, based on indicators such a economic growth, employment, stock market, regular income and quality of life.</p>
<p>It involved 12,915 respondents in 25 countries and recorded a three-point rise in Middle East consumer confidence from the previous six month period, bringing the index to (85.7), significantly higher than Africa (73.8) and Asia Pacific (52.1).</p>
<p>Nigeria (96.4) retained the top spot in Africa, followed by Morocco (87.2), said the survey carried out between December 5, 2011 and February 8, 2012.</p>
<p>In the Middle East, Qatar and Oman topped the index with a remarkable score (93.6); followed closely by Egypt (88.3), Kuwait (88.3), Saudi Arabia (83.9) and the UAE (82.1)</p>
<p>Source &#8211; PTI<br />
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		<title>Indian economy is mature enough to absorb &#8216;shocks&#8217;: RBI</title>
		<link>http://investmoneyinindia.com/4012/indian-economy-is-mature-enough-to-absorb-shocks-rbi</link>
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		<pubDate>Sat, 21 Apr 2012 10:34:32 +0000</pubDate>
		<dc:creator>Ziaulla Namani</dc:creator>
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		<description><![CDATA[Describing the current downturn a short-term phenomenon, RBI Governor D Subbarao said Indian economy is mature enough to absorb &#8216;shocks&#8217; and the country&#8217;s growth story is intact.

&#8220;The structure of the economy has changed (since 1991). Our financial markets are more matured, more diverse and much deeper. They have the resilience to absorb shocks,&#8221; he said [...]<p>&copy;2009 Copyright by <strong><a href="http://investmoneyinindia.com" title="Invest In India"><strong>Invest In India</strong></a></p>
]]></description>
			<content:encoded><![CDATA[<div>Describing the current downturn a short-term phenomenon, RBI Governor D Subbarao said Indian economy is mature enough to absorb &#8216;shocks&#8217; and the country&#8217;s growth story is intact.</div>
<div></div>
<p>&#8220;The structure of the economy has changed (since 1991). Our financial markets are more matured, more diverse and much deeper. They have the resilience to absorb shocks,&#8221; he said while participating at a panel discussion on India&#8217;s economic reforms and development here.</p>
<div>The Governor, who will be unveiling the annual credit policy on April 17, however, expressed concern over widening fiscal and current account deficits and talked about governance issues.</div>
<div></div>
<div>&#8220;There are serious concerns about macro-economic, about our policy and governance&#8221;, he said.</div>
<div></div>
<div>Subbarao further said although the key indicators like fiscal deficit and current account deficit were at the same level as in 1991 when the country had to take drastic actions to deal with the problem, but &#8220;implosion was not imminent in 2012&#8243;.</div>
<div></div>
<p>He said, &#8220;India&#8217;s growth story is intact &#8230; current downturn is short-term phenomenon&#8221;.</p>
<div>India&#8217;s economic growth during 2011-12 slipped to three year low of 6.9 per cent, down from 8.4 per cent in the preceding two years. The government expects the GDP to expand by 7.6 per cent in the current fiscal.</div>
<div></div>
<div>Subbarao said the country&#8217;s &#8220;regulatory system under crisis response mechanism is more robust and more sophisticated. The services sector that dominates today, was less than 50 per cent in 1991. Today it is over 60 per cent.&#8221;</div>
<div></div>
<p>He further said that although India has not insulated itself from all crisis, the probability of &#8220;implosion&#8221; is low.<br />
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		<title>State-run banks trading lower on fears</title>
		<link>http://investmoneyinindia.com/4008/state-run-banks-trading-lower-on-fears</link>
		<comments>http://investmoneyinindia.com/4008/state-run-banks-trading-lower-on-fears#comments</comments>
		<pubDate>Sat, 21 Apr 2012 10:25:31 +0000</pubDate>
		<dc:creator>Ziaulla Namani</dc:creator>
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		<category><![CDATA[Contraction]]></category>
		<category><![CDATA[Fear]]></category>
		<category><![CDATA[Fears]]></category>
		<category><![CDATA[Government Directive]]></category>
		<category><![CDATA[Hurry]]></category>
		<category><![CDATA[Margins]]></category>
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		<category><![CDATA[Quarters]]></category>
		<category><![CDATA[RBI]]></category>
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		<description><![CDATA[India&#8217;s state-run banks were trading lower on fears that margins may be hit after some cut their base rate, reacting to a government directive to review lending rates after RBI&#8217;s deeper than expected cut in its policy rate on Tuesday.
The fear is banks may not be able to bring down deposit rates, or cost of [...]<p>&copy;2009 Copyright by <strong><a href="http://investmoneyinindia.com" title="Invest In India"><strong>Invest In India</strong></a></p>
]]></description>
			<content:encoded><![CDATA[<p>India&#8217;s state-run banks were trading lower on fears that margins may be hit after some cut their base <a href="mortgage" class="kblinker" title="More about rate &raquo;">rate</a>, reacting to a government directive to review lending rates after RBI&#8217;s deeper than expected cut in its policy rate on Tuesday.</p>
<p>The fear is banks may not be able to bring down deposit rates, or cost of funds, as much as lending rates.</p>
<p>Bankers have said that it was difficult to bring down deposit rates when there were other competiting assets like small savings offering similar rates.</p>
<p>IDBI Bank, Punjab National Bank, Syndicate Bank and private lender ICICI Bank have all cut their base rates by 25 bps each.</p>
<p>There are expectations or fear in the market that government will force PSU banks to cut rates in a hurry that will result in some contraction in margins in coming quarters, Manish Ostwal, sector analyst at brokerage KR Choksey said.</p>
<p>He said that the repricing of deposit and asset books will result in 15-20 basis points margin contraction for state-run banks.</p>
<p>PNB, IDBI were down 0.5 percent each, while Bank of Baroda and Bank of India were down 1.2 percent and 1.7 percent respectively.</p>
<p>Please see an important advisory about the change in Reuters&#8217; markets coverage for India by double clicking.</p>
<p>&nbsp;</p>
<p>Source &#8211; Agencies<br />
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		<title>Indians one of fastest growing Asian group in US</title>
		<link>http://investmoneyinindia.com/4003/indians-one-of-fastest-growing-asian-group-in-us</link>
		<comments>http://investmoneyinindia.com/4003/indians-one-of-fastest-growing-asian-group-in-us#comments</comments>
		<pubDate>Thu, 12 Apr 2012 08:03:59 +0000</pubDate>
		<dc:creator>Malvika</dc:creator>
				<category><![CDATA[india]]></category>
		<category><![CDATA[6 Million]]></category>
		<category><![CDATA[Asian Group]]></category>
		<category><![CDATA[Asian Groups]]></category>
		<category><![CDATA[Asian Indian Population]]></category>
		<category><![CDATA[Asian Indians]]></category>
		<category><![CDATA[Asian Population]]></category>
		<category><![CDATA[Asians]]></category>
		<category><![CDATA[Census Bureau]]></category>
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		<category><![CDATA[Filipinos]]></category>
		<category><![CDATA[Koreans]]></category>
		<category><![CDATA[Metro Areas]]></category>
		<category><![CDATA[Mixed Race]]></category>
		<category><![CDATA[Proportion]]></category>
		<category><![CDATA[Proportions]]></category>
		<category><![CDATA[Race Group]]></category>
		<category><![CDATA[Total Population]]></category>
		<category><![CDATA[Us Census Bureau]]></category>
		<category><![CDATA[Us Population]]></category>

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		<description><![CDATA[Asians are the fastest growing race group in the United States with Indians (3.2 million) making up the third largest Asian group after the Chinese (four million) and Filipinos (3.4 million).
Reflecting a surge in immigration from the entire region over a decade, those who identified themselves as Asian alone, and not mixed race, grew by [...]<p>&copy;2009 Copyright by <strong><a href="http://investmoneyinindia.com" title="Invest In India"><strong>Invest In India</strong></a></p>
]]></description>
			<content:encoded><![CDATA[<p>Asians are the fastest growing race group in the United States with Indians (3.2 million) making up the third largest Asian group after the Chinese (four million) and Filipinos (3.4 million).</p>
<p>Reflecting a surge in immigration from the entire region over a decade, those who identified themselves as Asian alone, and not mixed race, grew by 43.3 percent, according to the US Census Bureau.</p>
<p>That was more than four times faster than the <a href="mortgage" class="kblinker" title="More about rate &raquo;">rate</a> of growth for the overall US population, which grew 9.7 percent in the same period to 308,745,538, a census bureau official told reporters in a conference call Wednesday.</p>
<p>Some 14.7 million people, or 4.8 percent of the total population, identified themselves as Asian alone. Another 2.6 million, or 0.9 percent, said they were Asian in combination with another race group, most commonly white.</p>
<p>Among the Asian alone population that only reported one detailed Asian group, the order of the second and third largest groups switched-the Asian Indian (2.8 million) group was the second largest, followed by Filipino (2.6 million). The Chinese alone population remained the largest.</p>
<p>Large proportions of Chinese (49 percent), Vietnamese (49 percent) and Koreans (44 percent) lived in the West. A much lower proportion of Asian Indians (25 percent) also lived in the West.</p>
<p>Among all detailed Asian groups, the Asian Indian population was the largest in 23 states, of which 13 were in the South, six in the Midwest and four in the Northeast.</p>
<p>The Asian Indian population was also the largest detailed Asian group in six of the 20 metro areas (Chicago, Washington, Dallas-Fort Worth, Philadelphia, Atlanta and Detroit).</p>
<p>California is <a href="http://everythingfinanceblog.com/offers/capwest" class="kblinker" title="More about home &raquo;">home</a> to America&#8217;s largest proportion of all major Asian groups, including Asian Indians, with 5.6 million, or almost a third of all those included in the 2010 census nationwide, the report showed,.</p>
<p>The state&#8217;s Asian population increased 34 percent during the decade, but was outpaced by Nevada (116 percent), Arizona (95 percent) and North Carolina (85 percent).</p>
<p>New York had the biggest Asian population with 1.1 million, followed by Los Angeles (484,000) and San Jose, California (327,000).</p>
<p>&nbsp;</p>
<p>Source &#8211; IANS<br />
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