GJ Town India

Seeks to serve Advisory Committee member & also at Sub-Saharan Africa Advisory Committee The Export-Import Bank of the United States (EXIM) now is accepting nominations of persons to serve as members of the bank’s 2019 Advisory Committee and the 2019 Sub-Saharan Africa Advisory Committee. The nominations period begins today and will close on July 24, 2019. Notices inviting submissions of nominations for both committees have been published in the Federal Register. More information, including how to submit nominations, is available on EXIM’s website at Advisory Committee and Sub-Saharan Africa Advisory Committee. Both advisory committees were established by the U.S. Congress in EXIM’s charter to provide direct input and advice to EXIM’s board of directors on the bank’s programs and policies from individuals representing the private sector and state government. Appointments to the advisory committees require votes by the board of directors. Due to the lapse of the...

RBI places Prudential Framework For Resolution of Stressed Assets! RBI to direct banks for initiation of insolvency! Hon’ble Supreme Court, vide its order dated April 2, 2019, had held the RBI circular dated February 12, 2018 on Resolution of Stressed Assets as ultra vires. In light of the same, the Statement on Framework for Resolution of Stressed Assets issued by the Governor on April 4, 2019 had clarified that the Reserve Bank of India will take necessary steps, including issuance of a revised circular, as may be necessary, for expeditious and effective resolution of stressed assets. Accordingly, the Reserve Bank has today placed on its website the prudential framework for resolution of stressed assets by banks in the wake of the judgement of the Hon’ble Supreme Court of India. The fundamental principles underlying the regulatory approach for resolution of stressed assets are as under: 1: Early recognition and reporting of default in respect of large borrowe...

Tariff Wild Card threatens US retail With retail sales continuing to grow, imports at the nation’s major retail container ports are expected to remain strong this month after setting three new records this summer, according to the monthly Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates. “More tariffs could come any day, and retailers have been bringing in record amounts of merchandise ahead of that in order to mitigate the impact on their customers,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Retail sales are growing stronger than expected this year thanks to tax cuts and job creation, but tariffs are the wild card that threatens to throw away a significant portion of those benefits.” “The current boom in shipping can primarily be explained by importers’ response to the U.S. trade war with China,” Hackett Associates Founder Ben Hackett said. “Consumers appear to be spending money on go...

Cut & Polished export grew up to 20.11%, Gold jewellery export goes up to 9.38% and Coloured gemstones export rose up to 10.55% Rough import grew up to 14.13%, Cut & Polished import goes up to 22.36% and Synthetic stone import rose up to 55% Total GJ export registered growth of 16% Although what available is a provisional fact-n-figure of India GJ Export - Import for the FY 2009-10 yet I think it is enough to say that India GJ Industry has arrived at the ‘Global GJ Hub’ stature. Cut & polished diamonds grew up to 20.11% and that worth of US $ 17.54bn to that previous FY worth US$ 14.60bn. Where as export of Synthetic stone which does not refers in general has grew up 100% and contributed minuscule value. Men-made stone is a strategic segment. Upon looking at jewellery side, the interesting is non-gold jewellery than the gold jewellery. Gold jewellery segment has grown up to 9.38%...