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Goldman makes 'call of decade' by promoting BRICs
Goldman Sachs Group Inc’s forecast that Brazil, Russia, India and China would eventually eclipse the Group of Seven countries economically has been described as “the biggest market call of the decade.”

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Ruias to raise Rs 100 cr for Falcon, dilute 10% in Dunlop
Tyre maker Ruia Group today said it will raise Rs 100 crore in listed entity Falcon Tyres through private placement of shares and dilute 10 per cent in Dunlop India for capacity expansion over the next few months.

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Proposed Base Rate likely to benefit MSME exporters: FIEO
Exporters today welcomed RBI"s proposal to shift to the base rate system for pricing of loans, saying the move would help in raising competitiveness of Indian goods in international markets by 3 to 4 per cent.
Small Business

PNB, DFC join hands to provide working capital to SMEs

Small and medium borrowers taking term-loans from the Delhi Financial Corporation(DFC) will now be eligible for working capital loans from Punjab National Bank(PNB). - Bank of India FY"09 Net up 58 % at Rs 3,087.54 cr - Bank of Maharashtra to recruit specialised staff in 2009-10 - Corporation Bank aims for 22-25 % credit, deposit growth - Dhanalakshmi Bank launches spl home loan product - "Citi rules out selling stakes in Indian, Chinese banks" - Poor presence of private banks in LBS: RBI committee According to an MoU inked by PNB Executive Director Nagesh Pydah and DFC CMD X K Mehto today, borrowers availing term loans from DFC will be eligible for availing working capital facilities from PNB. Stressing the importance of small and medium enterprise in his business, Pydah said he expects the bank"s SMEs credit disbursal to rise to 25 per cent of the total portfolio by the end of this fiscal from 16 per cent in 2008-09. The bank had total credit disbursal of Rs 1,55,000 crore by the end of 2008-09, of which SMEs" shares was Rs 23,700 crore, he told reporters here. "PNB has taken various initiatives to meet the credit requirements of MSME sector. Specialised MSME branches have been set up to focus on working capital as well as other credit requirements of MSME sector," Pydah said. PNB Delhi Circle General Manager R K Dubey added that the tie-up with DFC would ensure credit delivery to the entrepreneurs in the national capital, especially in industrial areas like Bawana, Mayapuri, Patparganj, Okhla, Naraina, Narela, among others. "To meet the expectation of this priority sector segments, six MSME branches and two SME hubs have been set up in Delhi," Dubey added. In the last financial year, the annualised growth of SME advance was 86 per cent in Delhi Circle. DFC Chairman and Manging Director X K Mehto said both the institutions would extend financial assistance to the industrial units for acquiring fixed assets. DFC is a state-run organisation to promote and develop small and medium enterprises in Delhi and Chandigarh.


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