Briefly Business: Farm loan target fixed at Rs 6 lakh cr

Farm loan target fixed at Rs 6 lakh cr

Written by Express News Service | Published: August 26, 2012 1:08:59 am

Farm loan target fixed at Rs 6 lakh cr

KARAIKUDi: Union finance minister P Chidambaram on Saturday said that public sector banks have set a target to disburse Rs 6 lakh crore as agriculture loan during the current fiscal. The banks,which had collectively targeted to disburse Rs 5.75 lakh crore have revised the target upwards by Rs 25,000 crore.

Gold rises to new record at R31,300

NEW DELHI: Buoyed by a strong rally overseas,gold rose to touch a new high of Rs 31,300 per 10 grams in the bullion market here on Saturday. Gold added Rs 185,registering gains for the sixth day in a row,while silver added Rs 950 to Rs 57,800 per kg on increased buying. In New York,the yellow metal rose by $2.10 to $1,674.90 an ounce,posting its biggest weekly gain since January 27. Silver also rose 0.5 per cent to $30.70 an ounce.

AI bans free excess baggage for VIPs

New Delhi: In an attempt to plug revenue loss of Air India,civil aviation minister Ajit Singh wrote to the airline CMD Rohit Nandan to impose a blanket ban on excess baggage checked in by ministers and civil servants,which is generally carried free by the airline. Usually,the free baggage allowance is 20 kgs for a passenger but Air India has been lenient in dealing with special requests,especially by VIPs who fly by the national carrier.

‘Orissa best state for pilgrimage tourism’

New Delhi: Orissa Tourism has been awarded as ‘Best State for Pilgrimage Tourism’ by Safari India a regional tourism magazine covering India,Nepal,Sri Lanka,Bangladesh,Pakistan and South East Asia.

Sweeping Apple win,but Samsung set for bounce-back

Defeat in a bitter patent wrangle with Apple,its smartphone rival and biggest customer,will dent Samsung’s $21 billion cash-pile,but could actually help cement its leadership in the global smartphone market.

While the verdict was a big win for Apple,the damages are less than half the $2.5 billion compensation it sought — although that could yet be increased by the judge — and are just 1.5 per cent of annual revenues from Samsung’s telecom business. That phone and tablet business is the powerhouse behind Samsung’s growth,earning around 70 per cent of total profit.

Samsung could also see its popular Galaxy smartphone banned from sale in the US.

But its skill as a fast executioner — quick to match others’ innovations — would likely mean tweaked,non-patent infringing devices would be on the market soon after any ban came into place.

Also,Apple’s demands for Samsung to pay it a royalty on its phone sales could hit rival phones using Google’s Android operating system more than it hits Samsung. If anything,the blaze of publicity from the high-profile,high-stakes US litigation has made Samsung’s brand more recognisable.

Suzuki to meet Hooda today

Suzuki Motor Corporation chairman Osamu Suzuki will meet Haryana Chief Minister Bhupinder Singh Hooda on Sunday.

The meeting assumes significance in the backdrop of violence at Maruti Suzuki’s Manesar plant last month,which he would bring up at the meeting with Hooda.

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