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Software exports leapfrog 64%, top Rs 5,800 crore
Software exports registered a growth of 64% in 1997 to gross revenues of Rs 5,860 crore as compared to Rs 3,580 crore during the previous year. According to a study done by the National Association of Software and Service Companies (Nasscom), the apex body of the Indian software industry, software exports during the year went up by 59% in dollar terms.
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European Commission to disburse Rs 18 crore to aid small firms in Asia
The European Commission (EC) has launched a programme to help small and medium enterprises (SMEs) in Asia and Europe to enhance their international business. The Asia-Invest programme will disburse ECU 45 million (around Rs 18 crore) for the purpsoe in five years. However, as China has already received the lion's share of ECU 10 milion, the balance will have to be shared by the remaining 17 nations.
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Poor service seen crippling banks
Erosion in the quality of service among public sector banks has led to a fall in recovery, rise in the number of frauds and a general apathy towards public, a recent nation-wide consumer survey has revealed. More than 75% of the consumers have expressed "disgust" with the poor quality service rendered by the banks since nationalisation and over 57% favour competition from private and foreign banks.
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Transporters to approach Mumbai court for stay on third-party premium
Transporters plan to approach the Mumbai high court for obtaining a stay on the steep hike in third-party motor-tariff premium proposed by the Tariff Advisory Committee (TAC). The new rates will come into force from February 15, 1998. The Maharashtra Rajya Truck Tempo Tanker Vahatuk Mahasangh contemplates taking legal recourse along with the Bombay Goods Transport Association (BGTA) and the Maharashtra Truck Operators Association.
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