Aakash Tablets, the cheapest Tablets available in the market, is under severe criticism from the Indian Cellular Association. The Association has officially written a letter to the HRD Ministry, pointing out that it is based on outdated technology and inadequate specifications. The Association also continued to add that the project to make cheap tablets should have been handed over to large and integrated global players like, Samsung and Nokia who have global reputation in making similar devices. Instead the project was handed over to DataWind, a lesser company as compared to the likes of Samsung, Nokia etc. The association sternly believes that the partners have a minimum turnover of Rs 500 crore, net worth of Rs 100 crore and a service network of at least 200 points across the country. The association also felt that the project could have been handed over to an Indian Company also.
Category Archives: Business
India Iran oil Payments
India has paid all oil debts. News was disclosed by Mahmoud Bahmani, Central bank governor of Iran told to the IRNA news agency. The payment was done in cash not by any bartering system. India is the second largest oil buyer of Iran. The Indian interest of repay the debts by bartering system or by any goods was rejected by Iran. Thus the five billion Dollar debt was cleared.
India was struggling to pay the amount for last six months. The main reason was the American pressure on the grounds of Iran’s nuclear programs. Tehran was beaten by the International agencies for the Uranium Enrichment Process. Both U.S. and European Union placed prohibitive restrictions on the transactions with Iranian banks and financial institutions. Many Asian and European banking channels were using New Delhi to pay the amount to Iran. Those actions were closed by the regulations.
Tree House Education and Accessories IPO coming
Tree House Education and Accessories is a company working in the education sector. They are trying an IPO by issuing 96,96,343 equity shares of Rs 10 each. They are trying to collect Rs 150 Cr by IPO. Out of this money, Rs 41.3 Cr will be spent for the expansion of pre-school business, Rs 28.58 Cr for repayment of loans, Rs 40 Cr for the construction of infrastructure for educational complexes in Rajasthan and Gujarat, Rs 15.6 Cr for procurement of exclusivity rights to provide educational services and Rs 11 Cr for acquisition of office space.
Gold Loan in India
Gold loan business has become one of the hot businesses in India. Many companies have this business. Excellent growth rate is disclosed by the gold loan companies include Manappuram and Muthoot capital etc. Indian houses hold almost 20000tn gold. It is the double of the US central bank gold reserve. The main attraction is that there is no delay in the loan for gold. The institutions are ready to give loans because of the increasing gold prices.
High interest rates were realized by the regional financial institutions earlier. Since our commercial banks were very tight to give other loans, gold loan was the only resort for the common people. The number of people were very high who took loan with high interest could not repay and lose their gold. The poor people were cruelly exploited earlier. The situation has changed now and the people can get fast loan for gold now. It is mainly because the fresh high price creation of gold.
