Indo-US relations, which have become more stable than before because of the new economic relationship, now have an unexpected major underpinning — investments by the Reserve Bank of India in US Government bonds. The latest figures released by the International Monetary Fund (IMF) have brought out the fact that as Japanese investments in the US have fallen drastically, most of the new investments in the US have come from the central banks of developing countries like India, Malaysia, Taiwan, Braal, Mexico and Chile.
SEBI receives 25,524 complaints against companies
The Securities and Exchange Board of India received 25,524 complaints against 1,903 companies and 832 companies have resolved 15,102 complaints during the first fortnight of July. During the same period, 7,039 interim replies were also received from 399 companies reporting delay in redressal of complaints due to requirement of full information from the investors, banks, registrars to issue/share transfer agents, etc. This is in contrast to the 21,946 complaints against 1,786 companies that it received in the second fortnight of June.
Software industry should improve, says Minister
The Indian software industry has to overcome weaknesses such as the lack of sustained marketing, over-dependence on services rendered on site and dependence on the US to become a global player, the Union Minister of State for Electronics, Chemicals and Fertilisers, Mr. Eduardo Faleiro, said. To help the industry, the Government had launched a set of policy initiatives such as a five-year tax holiday for software export units, software technology parks and reduced customs duty, the Minister said.