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Chamber of commerce, MSMEs flay bank strike : Rashtra News #Chamber #commerce #MSMEs #flay #bank #strike The trade and business organisations in Mysuru have flayed the two-day strike called by central trade unions of various public sector organisations which crippled banking operations this week. Though many public sector units took part in the strike called
India News: Engineers' Day is celebrated on September 15th in India to honor Mokshagundam Visvesvaraya, a prominent engineer. He played a key role in India's infr
Engineers' Day in India is celebrated on September 15th to honor the contributions of engineers. It coincides with the birth anniversary of Mokshagundam Visvesvaraya, a renowned engineer in India. Visvesvaraya played a significant role in shaping India's infrastructure and industrial landscape, including overseeing the construction of the Krishna Raja Sagara Dam. He also served as the Diwan of Mysore and received India's highest civilian honor, the Bharat Ratna.
The Reserve Bank of India (RBI)'s latest repo rate hike of 35 bps, following four previous hikes of 40 bps in May and three successive hikes of 50 bps from June to October, is understandably due to the need to tame rising inflation, but the fact is it is hurting the industry, services and trade who operate on very thin margins, observed FKCCI, and appealed to the government to take note of the flip side and suggested alternate incentives may be given to help them tide over the overall 225 bps hike in fiscal 2022-23 (FY23).
Get latest articles and stories on Business at LatestLY. "There are no two views that taming inflation is critical," said BV Gopal Reddy, president, Federation of Karnataka Chambers of Commerce and Industry (FKCCI). "But at the same time the measures that are contemplated should not adversely affect businesses. Otherwise, it will have the result of dampening growth and the government will have another major problem of tackling de-growth in the economy." Business News | Repo Rate Hikes Hitting Industry Bottom Line, Reliefs Needed: Karnataka's Industry Body.