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Defence imports contracts set to rise
- The contracts on imports for meeting defence requirements is likely to increase significantly over the coming years owing to the increased purchases sourced from abroad.
- The quantum of imports stood at Rs. 10,000 crore during the previous financial year and it is expected to cross Rs. 18,000 crore this fiscal.
- The private sector should develop the capability of manufacturing and assembling components into the vertical niches of the sector
SBI hopeful of getting fund infusion this fiscal
- State Bank of India is likely to get an equity infusion of between Rs.3,000 crore and Rs.4,000 crore within this fiscal year, Chairman Pratip Chaudhuri said.
- Mr. Chaudhuri was here to attend a meeting with the Union Finance Minister and the chief ministers and finance ministers of the four eastern and seven north-eastern states. Several other chiefs of banks and financial institutions participated in the meeting whose main agenda was to review credit flow to these states.
- referring to the scheme of making available short-term crop loans at an interest rate of 4 per cent.
- in the first-half of this fiscal, the banking system had already extended a credit of Rs.2.23-lakh crore against the year's target of Rs.4.75-lakh crore.
