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Bangalore may face oversupply of luxury rooms
This is one luxury Bangalore can afford not to have. The city is set to add the highest number of “keys” in the upscale rooms category at a time when demand is not so certain.

Composite silk unit in near Guwahati
Assam, which produces three types of indigenous wild silks – Muga, Pat and Eri, today got a composite silk unit at Chaygaon Industrial Growth Centre, near Guwahati. The composite unit, or Eri Spun Silk Mill, came up with an investment of Rs. 5.5 crore, which includes infrastructure for spun silk mill, machineries, looms etc. The unit is expected to go a long way in adding value to the silk industry of Assam. The unit was inaugurated by union minister of textiles, Dayanidhi Maran. For the establishment of the unit, along with additional facilities like weaving processing and dyeing etc., the Central Silk Board (CSB), under the ministry of textiles, and the state government of Assam had provided a subsidy of Rs. 155.30 lakh and Rs. 48.10 lakh respectively to the promoter of the unit, Fabric Plus Pvt. Ltd., for installation of machineries, equipments etc. The promoter also contributed an amount of Rs. 22.60 lakh.

News of the day

M&M utility vehicle sales grow 32.11% in Oct
Auto company Mahindra & Mahindra (M&M) today reported 32.11 per cent growth in domestic sales of its utility vehicles in October at 18,410 units.
Public Relations

Oil regulator seeks infra lending for CGD projs

Oil regulator PNGRB has asked the Reserve Bank of India (RBI) to include networks built for sale of CNG to automobiles and piped gas to households in the definition of infrastructure so they can get project financing. - Uco Bank posts 20.7% business growth in Q3 - ICICI-First Data look at 500,000 PoS terminals by 2015 - Banks may duck impact of rising yields - Bankers likely to meet RBI on Jan 14 ahead of policy - Should RBI raise interest rates? - MJ Antony: Free hand for arbitrators">MJ Antony: Free hand for arbitrators Currently, only gas, crude oil and petroleum product pipelines are covered under the RBI guidelines for infrastructure lending. Petroleum and Natural Gas Regulatory Board Chairman L Mansingh this week wrote to RBI Governor D Subbarao seeking expansion of the scope of Infrastructure Lending to include city gas distribution (CGD) networks. "CGD networks should be considered as an integral part of the infrastructure facility for reaching natural gas to the bulk of consumers in the domestic, transportation, commercial and industrial sectors," he wrote on January 4. Unlike petroleum and other products, natural gas can mainly be transported and distributed through pipelines and CGD networks only, he said. Setting up of CGD networks require massive investments, he said, "I would request you to kindly include specifically city gas distribution networks in the guidelines for infrastructural lending in order to facilitate the flow of credit to this sector and speedy implementation of the projects."


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