The performance of public sector commercial banks in the immediate future would depend on their coping with competitive pressures from within the banking industry and from the financial sector in general, according to the Report on Trend and Progress of Banking in India, 1993-94 (July-June) released by the RBI. This in turn will depend on the extent of functional and organisational restructuring that banks are able to bring about as well as the changes in management culture and the strategies adopted to capitalise on their experience. The ultimate objective ought to be customer satisfaction.

Trade surplus in April at $ 207 m.

The external trade sector has started the current financial year on a bright note with a trade surplus of $ 207 millions and an impressive 24.08 per cent growth in exports. The Commerce Minister, Mr. P. Chidambaram, said exports in April amounted to $ 2.466 billions against $ 1.988 billions in the same month last year, when it registered a growth of 12.61 per cent. Imports in April stood at $ 2.259 billions, up 15.38 per cent over the-previous year's $ 1.958 billions, indicating a growth of 13.54 per cent.

Govt. bans conversion of milk in North

The Centre has decided to ban the conversion of liquid milk into products in the North this summer, considering the shortage. The ban will, however, be imposed after consultation with the States. The decision was taken by the Cabinet Committee on Prices (CCP) following its assessment that the North would face severe milk shortage in the summer. Usually, the ban is restricted to the Delhi region. Sources said Haryana has agreed to the ban, which will apply to cooperative and private dairies.

Published on June 2, 2015