Subhiksha has intention to relocate around 5-10% of the company`s existing stores to take benefit of the decreasing rentals, reports Business Standard.
It is learnt that the company is slowing down its growth plan by 10-12% for the remaining part of the current fiscal.
The company had at the beginning of this year announced Rs 12 billion growth plan for the company`s retail and grocery format, besides plans for venturing into the consumer durables retailing business.
Electrolux said it will cut down more than 3,000 jobs primarily because of falling demand in Europe and North America, reports Business Standard.
The company has also cautioned that there can be more job cuts as it proceeds to move production capacity to low-cost countries.
The firm has about 57,000 employees worldwide. Electrolux noted that decline in demand for appliances in Europe and North America, in the last two weeks of November, has negatively impacted its sales volume and product mix for the fourth quarter.
Fernandes said that the focus was also on productive employment at a faster pace than before and growth target for agricultural target was set at 4% per annum in order to raise the income of rural masses and to bring about a general improvement in their living conditions.
He said that the government was also implementing various employment generation and poverty alleviation programs. According to him, some of the important ones were Swarna Jayanti Shahari Rozgar Yojana (SJSRY), Prime Minister`s Employment Generation Programme (PMEGP), Swarnajayanti Gram Swarozgar Yojana (SGSY) and National Rural Employment Guarantee Act, 2005 (NREGA).
The Reserve Bank of India (RBI) has permitted ABN AMRO Bank N.V. to undertake primary dealer business in government securities market with effect from today, Dec. 16, 2008.
At the same time, with this move, the authorization given to ABN AMRO Securities (India) as primary dealer stands withdrawn.
The RBI had announced in its annual policy statement for the year 2005-06 that the permitted structure of primary dealership business would be expanded to include banks, which fulfill certain minimum eligibility criteria.
Accordingly, RBI had issued guidelines on Feb. 27, 2006 addressed to all scheduled commercial banks [excluding regional rural banks (RRBs)], on eligibility criteria for banks to undertake primary dealer business departmentally.
