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Trade Talk

Eye on Forex

Foreign exchange department (FED) of Reserve Bank of India (Patna) held a daylong workshop for bankers and traders who deal in foreign exchange at Chamber Bhavan in Ranchi on June 20. The meet stressed on updates of Foreign Exchange Maintenance Act (FEMA) and foreign exchange transactions. M.K. Verma, RBI regional director (Bihar and Jharkhand), who inaugurated the workshop, spoke on “trade in a global environment where the mantra was export or perish”. “The exchange rate is determined by market forces and the RBI intervenes only to reduce volatility when required,” he added. Satyajit Deb, DGM (FED), spoke on the importance of guiding exporters and importers. Aditya Sengupta and Santha Paul, faculty members of Mumbai training centre of RBI, touched on various aspects of FEMA in detail

Power milestone

Private major Tata Power achieved generation of 2,670 MUs (million units) in the fourth quarter of fiscal year 2013-14 and 13,183MUs in the whole of 2013-14. The company, with subsidiaries and jointly controlled entities, has an installed gross generation capacity of 8,585 MW including thermal and hydroelectric power, renewable energy and waste heat recovery. “The company’s gross generation has touched 8,585MW, once again reinforcing its position as the largest integrated power company in India. We are proud to achieve this milestone,” Tata Power managing director Anil Sardana said

Glittering draws

New entrant in Ranchi, PC Jeweller, which opened its store in May last week, recently gave away mega prizes to a few customers as part of their lucky draw. Kiran Kumari won a Honda City car, while S.S. Roy received a diamond jewellery set worth

Rs 1 lakh and Amit Kumar and Seema Kumari each got diamonds worth Rs 50,000. Trusted brand Jevar Jewellers, operating in the capital since 1973, is offering 40 per cent discount on making charges on ornaments to mark 40 years of business in the city

Future on your cellphone

Aircel, one of India’s leading mobile service providers, launched “Astro Buddy” for subscribers on June 12, wherein customers can subscribe to daily astrology updates based on zodiac signs. Well-known astrologer Bhupesh Sharma is lending his expertise for daily updates, which also double up as a wake-up alarm


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