Business News

• Rural complaints against banking up
• Bharti Walmart in deal with Ansal
• HML may launch small car in July

Rural complaints against banking up

Consumers in rural India are showing increasing awareness of their rights when it comes to banking service.

The annual report of the Indian central bank's banking ombudsman office says complaints from rural areas constituted 32% of the total 79,266 complaints received in 200910. For the rest, complaints by metropolitan customers account for 34% and that of urban and semi urban areas 20% and 14%, respectively. Rural complaints have gone up by 80% while metros have shown 9% decline in such complaints in fiscal 2010.

Bharti Walmart in deal with Ansal

Bharti Walmart Pvt. Ltd has signed a deal with New Delhi based realty firm Ansal Properties and Infrastructure Ltd to set up a 60,000 sq ft of cash and carry store in Lucknow.

A senior ranking official in the realty firm, who did not want to be named, confirmed the news. “The space will be given to the leading retail chain on a long term lease basis of seven years,“ he said.

“After seven years of minimum stay, they will either have the option to buy or sell out the space with both parties agreeing for the sale. This would be a part of the 3,500acre township in Lucknow”. He refused to give further information on the deal.