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Government Providing 600 Crore Subsidy To Merchant Exporters

Proposal by the Department of Commerce

Sharp decline in export credit is impacting exporters and MSME units. Sop proposal entails benefits of around Rs. 600 crore to exporters. It’s a proposal by the Department of Commerce.

Commerce Minister Suresh Prabhu has raised the issue of declining export credit repeatedly. Loans to exporters should be considered as priority sector lending by banks. Federation of Indian Export Organisations (FIEO) endorsed.

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".. The government .. decided to provide 3 % interest subsidy to merchant exporters to enhance flow of funds for them with a view to boosting outbound shipments.

The decision was taken by the Cabinet Committee on Economic Affairs. .."

".. These products are largely in MSME/labour-intensive sectors such as agriculture, textiles, leather, handicraft and machinery. ..

.. inclusion of merchant exporters in the scheme is expected to make exporters more competitive, encourage them to export more products manufactured by MSMEs.

".. The present scheme, which is in force from April 1, 2015, for five years, provides interest equalisation (or subsidy) rate of 3 % to all manufacturing exporters shipping 416 products and 5 % on all merchandise products manufactured and exported by MSMEs (micro, small and medium enterprises).

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Find this at http://www.livemint.com/Politics/tJ9qF0MmMhTVhTKHcZQbSI/Government-to-provide-Rs-600-crore-subsidy-sops-to-merchant.html .

This is from January 2019.

InterGlobe Aviation - IndiGo operator's Q3 net profit Rs 191 crore

Revenues rose 28 percent at Rs 7,916.2 crore from Rs 6,178 crore

There has been adverse impact of crude and rupee. Revenues rose 28 percent (YoY) at Rs 7,916.2 crore from Rs 6,178 crore last year.

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".. InterGlobe Aviation, the operator of low-cost carrier IndiGo, reported a net profit of Rs 191 crore for the December quarter. The airline had posted a profit of Rs 762 crore. Profit of the company was hit due to adverse impact of crude oil prices as well as depreciation in the rupee. .."

".. The earnings before interest, taxes, depreciation, amortization and rentals fell 16 percent to Rs 1,681.4 crore against Rs 2,001 crore posted last year. The EBITDAR margin came in at 21.2 percent, down from 32.4 percent year on year. .."

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Find this at http://www.moneycontrol.com/news/business/earnings/indigo-operators-q3-net-profit-at-rs-191-crore-on-adverse-impact-of-crude-rupee-3425591.html .

Tag: Airline.

This is from January 2019.

RBI Relief To MSMEs

 Debt Restructuring by Reserve Bank Of India

RBI offers relief to MSMEs; allows restructuring of debt up to Rs 25 crore.

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".. debt of up to 25 crore rupees for the companies which have defaulted on payment but the loans given to them have continued to be classified as standard assets. The decision will help the micro, small and medium enterprises (MSMEs) which are facing cash crunch in the wake of demonetisation and GST implementation. .."

".. To be eligible for the scheme, the aggregate exposure, including non-fund based facilities of banks and NBFCs, to a borrower should not exceed 25 crore rupees as on January 1, 2019, and the restructuring has to be implemented by 31st of March 2020. .. "

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Find this at http://www.newsonair.com/Main-News-Details.aspx?id=357431 .

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Prices start with Rs. 1750 and then increase in Rs. 350 quantums minimum. To understand 'Rs. 350 quantum minimum' make contact please.

Trivia for many, additional info for some: 1 Crore is 10 Million, 100 Crore is a Billion. 1 Lakh Crore is a Trillion - mentioning just in case.