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The government will set up design centres to help khadi institutions develop trendy designs in line with the market demand. The National Design and Product Development Centre for khadi products will be established by the Khadi and Village Industries Corporation (KVIC) under the Ministry of Micro, Small and Medium Enterprises. On Wednesday, MSME Minister Nitin Gadkari outlined the broad plan which includes a concerted push to maximize the production and sale of khadi and make it a global brand. "There is a need to make khadi designs more trendy and modern, without compromising with tradition. We need to make khadi attractive for the youth of the country. The product designs should be aligned to customer choices and demand, and take into account the local and regional preferences and requirements like weather condition and local designs," Gadkari said. Read Complete Article

Financial News Arun Tiwari, about to complete 42 months as chairman and managing director of government-owned Union Bank of India , to Abhijit Lele on current challenges. Edited excerpts: Union Bank has been able to report net profit for all quarters during and after the Asset Quality Review in 2015-16. Beside handling of stressed accounts, did limited exposure to large-ticket cases also help? Correct. Always at the back of my mind is the prescriptive limits for single party exposure or sector exposure. The single party limit might be Rs 5,000 crore but for a particular borrower we might not go beyond, say, Rs 1,000 crore. We have to be prudent in decisions. We don’t have to take exposure up to the Reserve Bank’s set limit. Are we still struggling to find a solution for resolution of stressed assets? If 10-12 coaches of a train get derailed ,it takes time to get these back on track. Being in an out-of-sync situation for three-four years, the curation period will also be l...