Rating agency Moody's Investors Service has upgraded India's sovereign rating outlook to 'stable' from 'negative', following an improvement in the financial sector and faster-than-expected economic recovery across sectors.
The Centre has approved the setting up of seven new mega textile parks, or PM MITRA parks across the country to help to further the growth of the textile sector in the economy and position India strongly on the Global textiles map.
As per Section 3 of the SARFAESI Act, a company can carry the business of asset reconstruction only after obtaining a certificate of registration from RBI and, having the owned fund of not less than Rs 2 crore.
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