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67% companies chose NGOs for CSR implementation
Sixty seven per cent of domestic companies have chosen non-government organisations (NGOs) as partners to undertake their Corporate Social Responsibility (CSR) projects, while 58 per cent prefer government departments for the spread of CSR obligations, Associated Chambers of Commerce and Industry of India (Assocham) says. The chamber, in its assessment, ‘CSR: Quantitative Analysis’, said 21 domestic companies were working with multilateral or bilateral organisations for CSR activities. The study added 37 per cent of the firms had a well-structured foundation for implementing their CSR, while 58 per cent domestic companies had formed a separate department to implement CSR. http://smallpersonalloans.org.uk

No major strike in '09 but challenges remain for Home Min
In the shadow of 26/11, the Home Ministry took measured steps to bring changes in the complex intelligence-security system during 2009 that saw India pass through without any major terror attack and it could be in for some reforms in the new year if P Chidambaram has his way.

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Spring in winter
Business Standard / New Delhi December 21, 2009, 0:39 IST
Small Business

US auto bankruptcies hit Indian auto suppliers: Fitch

The bankruptcies of leading American car makers Chrysler and General Motors coupled with depreciation of the rupee could adversely impact the prospects of the Indian auto suppliers, says a report. - 52 US banks go belly up in 2009; 7 fail in a single day - Survey calls for a new bankruptcy law - GM to export 20% of Mini Car production - GM may emerge from bankruptcy protection a month early: report - Fiat may bring Chrysler brands to India - Light rules, firmly applied "The high degree of consolidation in the US auto market, which has become the second-largest export destination for the Indian auto component sector, may clearly hinder the prospects of early revival," global credit ratings agency Fitch Ratings today said. According to the report, the export-oriented suppliers have suffered an even sharper decline in sales and profitability, due to the slump in the global markets and the bankruptcy filing by major US auto makers (Chrysler and GM)." While Chrysler has exited bankruptcy, GM is expected to come out of bankruptcy in the coming weeks. Fitch Ratings asserted that reduction in export revenues and depreciation of the rupee against the dollar has forced some auto suppliers to restructure their borrowings into longer maturities, in order to reduce the imminent pressure on cash flows. In its report on the Indian auto suppliers, Fitch Ratings pointed out that such a situation could prolong the payment period for outstanding dues from these automakers.


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