Chennai auto-rickshaws to be equipped with GPS & electronic digital printers

Chennai auto-rickshaws to be equipped with GPS & electronic digital printersTamil Nadu Chief Minister J Jayalalithaa on Sunday announced that all auto-rickshaws in the state's capital Chennai would be equipped with new meters having global positioning system (GPS) and an e-digital printer.

Jayalalithaa also announced that all the auto-rickshaws in the capital would be fitted with the meters by the government, free of cost.

Insurance regulator soft on errant firms: Activists

Bajaj-AllianzChennai, Aug 24 : India's insurance regulator, with a mandate to protect policyholders' interests, seems to be soft on errant life insurers, say consumer activists, citing the recent penalty on Bajaj Allianz Life Insurance Company Ltd.

The Insurance Regulatory and Development Authority (IRDA) had, Aug 21, levied a penalty of Rs. 7,800,000 on the Pune-based Bajaj Allianz Life Insurance Company Ltd for rejecting 78 death claims without any valid reason.

Ashok Leyland launches Neptune engine

Ashok-LeylandChennai, Aug 23 : Commercial vehicles major Ashok Leyland Ltd Friday announced the launch of its own Neptune family of engines to be fitted its vehicles in a phased manner.

In a statement issued here, the company said: The future-ready Neptune engine will be available in BS-III (Bharat Stage) and BS-IV versions and is also package protected for BS-V and BS-VI."

According to the company, the modular sub-system design ensures maximum vehicle uptime and better noise, vibration and harshness (NVH) characteristics.

ISRO may use standby engine to launch GSLV

ISROChennai, Aug 20  : Indian space agency ISRO will look at options of using a standby engine for the early launch of its heavy geosynchronous satellite launch vehicle (GSLV) after examining what forced the postponement of the launch Monday, an official said.

"We have a standby for the second stage engine. But first we have to study the problem. If the problem is due to a faulty component, then we have to look at the batch to which the component belonged and have to replace the entire components from that batch," an Indian Space Research Organisation (ISRO) official told IANS preferring anonymity.

Naam Tamizhar won't allow release of 'Madras Cafe' in Tamil Nadu

Naam Tamizhar won't allow release of 'Madras Cafe' in Tamil NaduChennai, Aug 19 :  After attending the special screening of John Abraham-starrer "Madras Cafe" here Sunday, members of Tamil activist group Naam Tamizhar vowed not the allow the film's release in Tamil Nadu contending it portrays LTTE cadres as terrorists.

The private screening was attended by Tamil filmmaker and group chief Seeman and director R. K Selvamani along with many others.

ISRO rocket launch Monday with indigenous cryogenic engine

ISRO rocket launch Monday with indigenous cryogenic engineChennai, Aug 17 : In a month marked by key advances in indigenously-developed technology, India's space agency will also test its mettle with a crucial rocket, powered by a cryogenic engine built in the country, slated to blast off Monday.

The countdown for the flight of the heavy geosynchronous satellite launch vehicle (GSLV) is set to begin Sunday evening, Indian space agency officials said.

Jayalalithaa's food bill poser for Karunanidhi

Jayalalithaa's food bill poser for KarunanidhiChennai, Aug 10 : Tamil Nadu Chief Minister J. Jayalalithaa Saturday asked DMK chief M. Karunanidhi whether his party would vote against an unchanged Food Security Bill if moved in parliament.

In a statement issued here, Jayalalithaa challenged Karunanidhi to answer her question before the bill was taken up for discussion in parliament.

She wanted to know whether the DMK would move amendments to the bill.

Indian Overseas Bank addressing complaints on education loan

indian-overseas-bankChennai, Aug 8 : The Indian Overseas Bank (IOB) is alive to complaints of students pertaining to education loan and to a large extent has succeeded in addressing them, a senior official of the government-owned bank said Thursday.

"Some of the branch managers are new and hence they need to be trained. We have also issued a master circular on the various aspects of education loan. Whenever complaints are received they are sorted out immediately. The complaints have come down to a large extent," Indira Padmini, general manager told IANS here.

TVS Motor bets big on Uganda, Kenya

TVS-MotorsChennai, Aug 2 : Two- and three-wheeler-maker TVS Motor Company Ltd Friday said it plans to set up an assembly line in Uganda in six months time and also launch two new motorcycle models in the East African nation to capture 25 percent market share in a year's time.

"During the course of next two quarters we intend to step up an ultra modern assembly line through which we will roll out products that are tailor made for the Ugandan region. We also intend to launch two new motorcycle models during this period.

Stable exchange rate is important: RBI governor

D-SubbaraoChennai, August 1 : The Reserve Bank of India (RBI) will continue its cash-tightening measures till the volatility in the foreign exchange market is controlled, said its governor Thursday stressing the importance of a stable exchange rate.

"Having a stable exchange rate is important," D. Subbarao said here while delivering the R. Venkataraman endowment lecture at the Madras School of Economics on 'Dilemmas in Central Banking'.

He said the recent cash tightening measures will not impact growth though there might be short-term pain.

The banking regulator said it is important to bring down inflation.

TVS Motor's July sales down

TVS-MotorChennai, August 1 : Two- and three-wheeler maker TVS Motor Company Ltd sold a total of 153,676 units last month -- down 7,579 units compared to the total sold in the same month last year.

In a statement issued Thursday, the company said it sold 153, 676 units (two-wheelers 146,671 units, three-wheelers 7,005 units) last month as against 161,255 units (two-wheelers 157,954 units, three-wheelers 3,301 units) sold in July 2012.

The company's total exports grew by 37 percent with sales increasing from 19,142 units in July 2012 to 26,145 units in July 2013. (IANS)

Toyota Kirloskar sales down in July

Toyota-KirloskarChennai, August 1 : Japanese-Indian car joint venture Toyota Kirloskar Motor Thursday said it sold 14,470 units last month, down from 16,062 units sold in July 2012.

In a statement, the company said it sold 11,515 units in India as against 14,575 units sold in July 2012.

Last month, the company exported 2,955 units of Etios series.

"Market continues to be sluggish and it seems that we are heading for tougher times in view of the current market outlook," Sandeep Singh, deputy managing director and chief operating officer - marketing and commercial, was quoted as saying in the statement. (IANS)

Ford India sells 12,338 units

Ford-IndiaChennai, August 1 : Ford India, the Indian subsidiary of the US auto major Ford Motor Company, Thursday said it sold 12,338 units last month, up 48 percent over the same period in the previous year.

In a statement, the company said it sold 7,867 units in the domestic market and shipped out 4,471 units last month.

In July, Ford India commenced shipments of the EcoSport to South Africa, Mexico and Aruba.

The company inaugurated a dedicated car parking yard at the Chennai port to handle the increased export vehicle volume more efficiently. (IANS)

Cholamandalam Investment net up by 30 percent

CholamandalamChennai, July 31 : Cholamandalam Investment and Finance Company Wednesday said its net profit grew by 30 percent at Rs. 91 crore during the first quarter of the current fiscal from Rs. 70 crore posted during corresponding period of the previous year.

The income of the non-banking finance company (NBFC) rose 37 percent to Rs. 762 crore from Rs. 558 crore during the like period of the previous fiscal.

The aggregate disbursements of the company for the quarter are Rs. 3,279 crore as against Rs. 2,535 crore in the first quarter of fiscal 2012-13, registering a growth of 29 percent. (IANS)

Shriram City Union Finance to raise Rs.1,000 crore

Shriram-CityChennai, July 31 : Non-banking finance company (NBFC) Shriram City Union Finance plans to raise around Rs. 1,000 crore issuing debentures and through other debt this fiscal to achieve a growth of around 25-30 percent over the next couple of years, a top company official said Wednesday.

"The fund raising is expected to happen sometime this year to support the company's target. The company will continue to grow its non-corporate book size in a focused manner," G. S. Sundararajan, managing director, told reporters here.

Going by the growth plans, the company would need around Rs. 2,500 crore for the next 2 to 3 years.

BGR Energy promoter Raghupathy dead

B-G-RaghupathyChennai, July 29 : BGR Energy Ltd chairman and managing director B. G. Raghupathy passed away in Singapore Sunday night, said the company. He was 59.

In a statement issued here Monday, the company said Raghupathy passed away suddenly around 10 p. m.

"He was on a business visit to Singapore. As per information available, he developed severe stomach ache and was admitted to a hospital where he breathed his last," a senior company official told IANS.

Official expect the body to reach here Tuesday and funeral to be held later in the evening.

Reliance Life Insurance lodges complaints against fraudsters

Reliance-LifeChennai, July 24 : Reliance Life Insurance Company Ltd has lodged hundreds of police complaints across India to put an end to the menace of spurious phone calls by fraudsters using its name, the company said Wednesday.

The private life insurer has filed 190 complaints at various police stations across the country against call centres and spurious callers offering lucrative loans or insurance policies with huge gains using its name, an statement from Reliance Life Insurance said.

Advani to visit Tamil Nadu Aug 1

Lal-Krishna-AdvaniChennai, July 23 : BJP leader L. K. Advani will visit Salem Aug 1 to take part in a meeting to condole the murder of the party's Tamil Nadu general secretary V. Ramesh.

Ramesh was hacked to death Friday night in Salem, around 340 km from here, by unidentified men.

Ganesan said a three-member BJP team will separately visit Tamil Nadu this month to probe the attacks on party members. (IANS)

'Naam Thamizhar' group seeks ban on 'Madras Cafe'

Madras-CafeChennai, July 18 : "Naam Thamizhar" (We Tamils), a Tamil activist party, has sought a ban on John Abraham-starrer "Madras Cafe" for showing the members of the Liberation Tigers of Tamil Eelam (LTTE) as terrorists in the recently released trailer of the movie.

"We have requested the government of Tamil Nadu to intervene and stop the film from releasing. We would like to see the film before its release as it is learnt from the trailer that LTTE cadres were shown as terrorists," Tamil filmmaker Seeman, who heads the party, told IANS.

Reliance Capital Asset Management adds Rs.7,000 crore

Reliance Capital Asset Management adds Rs.7,000 croreChennai, July 17 - Reliance Capital Asset Management (RCAM) closed the first quarter of the current fiscal increasing its asset under management (AUM) by Rs. 7,000 crore as compared to previous year's comparable quarter, said the company.

In a statement Wednesday, RCAM - part of Reliance Capital Ltd. - said the total asset under management stands over Rs. 180,000 crore across mutual/pension funds, offshore mandates and others.

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