Latest News | Business Briefs DPIIT to Release Report on Logistics Cost on Dec 14
Get latest articles and stories on Latest News at LatestLY. The commerce and industry ministry will release a report on logistics cost on Thursday.
New Delhi, Jun 16 (PTI) The commerce and industry ministry will release a report on logistics cost on Thursday.
The Department for Promotion of Industry and Internal Trade (DPIIT) was working on a framework to assess the logistics cost in the country.
At present, the government is going by certain estimates, which suggest that India's logistics cost stands at about 13-14 per cent of the country's GDP (gross domestic product).
"The report on 'Logistics Cost in India: Assessment and Long-Term Framework' will be released on Thursday.
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The framework would include elements of this cost and how to measure that.
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ICICI Pru Life and Ujjivan Small Finance Bank forge bancassurance partnership *
ICICI Prudential Life Insurance and Ujjivan Small Finance Bank (Ujjivan SFB) have entered into a bancassurance partnership for the distribution of life insurance products.
Under the partnership, Ujjivan SFB, will offer the entire suite of ICICI Prudential Life's customer-friendly protection, long-term savings and retirement products to its customers through its extensive network of about 700 branches across 26 states and Union Territories, ICICI Pru said in a statement on Wednesday.
****** Bank of India unveils BOI STAR EXPORT CREDIT product for exporters *
Bank of India (BOI) has launched its latest financial offering for exporters, 'BOI STAR EXPORT CREDIT' -- a product designed to fuel the growth of export-oriented units in the country with specific focus on Agriculture and MSME exporters.
BOI expects the product to find favour among exporters since exports play a major role in the economy's overall development by creating more job opportunities while introducing technological advancements and global product offerings as well as boosting forex reserves, the bank said in a statement on Wednesday.
Launched by the bank's MD Rajneesh Karnatak, the product has features such as competitive interest rate starting from 7.5 per cent per annum, ECGC premium cost being shared by the bank, pre- and post-shipment limit interchangeability, standby line of credit facility, no capping on the upper limit of financing and other benefits, the bank said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)