IDBI Bank launches short 'Moneymobile' service
New Delhi: IDBI Bank has launched retail mobile banking facility 'Moneymobile' across 10 cities -- including four metros to enable its customers access balance enquiry, transaction updates and cheque paid status on mobile phones. The Moneymobile service, which is based on wireless application protocol and short messaging service, will also offer services like request for chequebook, bank statements and information relating to interest rates on mobile phones. The facility would also help customers locate the nearest branch with contact numbers on their mobile sets, he said.
The new service, with technical support from Hexware Technologies, will be available in Hyderabad, Bangalore, Ahemdabad, Baroda, Pune and Indore, apart from the four metros.
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Food processing laws to be revamped soon
New Delhi: The government is set to introduce a new - Processed Food Development Act which overhaul the existing acts governing the processed food industries. The new laws are targeted at removing impediments in the foreign direct investment (FDI) as well as domestic investment and introduction of new technologies in the sector.
The proposed laws, presently in the form of a bill to be approved by the parliament seek to introduce a single window system through the constitution of the Processed Foods Authority of India to improve the investment climate in the sector. It would also address several concerns of the industry relating to the manufacturing and processing of processed foods for the domestic and export markets and harmonising of existing laws relating to the sector, which adversely affect the growth of the sector. The bill also seeks to introduce good manufacturing practices and development of the processed food industry and trade on scientific lines to make the domestic industry compete in the new era of globalisation.
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Chinese goods worth $115 m in Indian market
New Delhi: An internal study reportedly conducted by the Commerce ministry has found that China is flooding the Indian market with cheap electronic goods. The value such cheap imports is put at $115 million during the first half of the current fiscal - a 50 per cent increase over the same period last year. The study, which focused on the trends of exports to and imports from China in the past few years found that there has also been a sharp increase of 65 per cent in imports of Chinese electrical machinery, amongst other electronic machinery, during April-September 2000 over April-September 1999. India's total imports from China during the first half of 2000-01 have gone up by 26 per cent over the same period last year.
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