About 1 crore people got jobs under TMC government in West Bengal
KOLKATA: One crore people have got jobs and unemployment has been reduced by 40 per cent under the Mamata Banerjee government in West Bengal since 2011, ruling Trinamool Congress MP Nusrat Jahan claimed on Monday. Addressing a press conference at the party headquarters here, the MP said, more than 28,000 people have got loans of […]
Q&A: Where are we in the COVID-19 vaccine race?
NEW DELHI: Drug makers and research centres around the world are working on COVID-19 vaccines, with large global trials of several of the candidates involving tens of thousands of participants well underway. The following is what we know about the race to deliver vaccines to help end the coronavirus pandemic that has claimed more than […]
NAREDCO announces Zero Stamp Duty for home buyers on its members project in Maharashtra
NEW DELHI: Bringing back the homebuyers into the State’s residential real estate sector, NAREDCO Maharashtra has announced yet another spell of zero- stamp duty on housing sales until 31st December 2020. The decision will allow more homebuyers to buy affordable and luxury residential properties at the lowest ever prices during the pandemic. Over 1,000 NAREDCO […]
Rail services resume in Punjab, says Piyush Goyal
NEW DELHI: Railway Minister Piyush Goyal on Monday said that the Indian Railways is going to commence services from and through Punjab as the farmer unions have announced complete lifting of blockades starting from the day. “After the postponement of the farmer movement on railway tracks and stations in Punjab from November 23, Indian Railways […]
As bank failures mount, RBI decision on new bank licenses could be controversial: Macquarie
NEW DELHI: At a time when bank failures are increasing in India, the decision to distribute licenses could be controversial. As per a report by Macquarie Research, the RBI just released an internal working group (IWG) report to review ownership guidelines and corporate structure for private sector banks. “While the arguably bold recommendations suggest NBFCs […]
Visa, ICICI Bank tie-up to aid fintechs
NEW DELHI: Digital payments major Visa on Monday announced a collaboration with ICICI Bank on its ‘Visa in a Box’ programme for fintech acceleration. Through this collaboration, fintechs can access APIs and the developer sandbox of Visa and ICICI Bank, to rapidly build, test and deploy consumer payment applications, Visa said in a statement. ICICI […]
Hiring outlook in manufacturing sector still bleak: FICCI Survey
NEW DELHI: The outlook for hiring in the manufacturing sector has marginally improved but the sentiments still remain weak, according to a survey by FICCI. The latest quarterly survey of the sector for July-September showed that 80 per cent of the respondents said that they are not likely to hire additional workforce in the next […]
Rs 280.68 crore loan default as on September 30: Coffee Day’s Sical Logistics
CHENNAI: Integrated logistics provider and part of the Coffee Day group, Sical Logistics, on Sunday said it has defaulted a sum of Rs 280.68 crore of loans taken from banks and financial institutions and interest on that. In a regulatory filing, the city-based Sical Logistics said its total outstanding -short and long term borrowings – […]
GST Council panel for 2-pronged strategy to curb fake invoices
NEW DELHI: The Law Committee of the GST Council has suggested a two-pronged strategy to tackle the issue of fake invoices, sources said. According to people in the know, the panel has recommended that new or fresh registrations in GST may adopt an Aadhaar-like registration process under which new registration can be done online with […]
Cargo movement issues likely to stay as supply chains resume: ADB
MUMBAI: As international trade gets back to normalcy with gradual lifting of lockdowns across countries, difficulties in cargo movement and clearance processes are likely to continue, said an Asian Development Bank (ADB) blog post. Emphasising the need for automations, the blog post said that although the South Asia Subregional Economic Cooperation (SASEC) countries have made […]
CAIT urges DPIIT to penalise Amazon, Flipkart for alleged violations
NEW DELHI: The Confederation of All India Traders (CAIT) has written to the Department for Promotion of Industry and Internal Trade (DPIIT) to take action against e-commerce major Amazon and Flipkart for alleged violation of FDI and FEMA norms. In a letter to the DPIIT Secretary, Guruprasad Mohapatra, the traders’ body said: “Our association has […]
Lenders of CG Power approve loan restructuring
NEW DELHI: The lenders of CG Power and Industrial Solutions have approved a one-time restructuring of loans to the company, paving the way for its acquisition by Murugappa Group-led Tube Investments of India. In a regulatory filing, CG Power said: “The company, TI (Tube Investments) and the lenders have now executed the requisite binding agreements […]
Resume mining to overcome jobs, economy issues: CII to Goa government
PANAJI: The Confederation of Indian Industry (CII) Goa chapter has emphasised the need for prompt resumption of mining activities in the coastal state to overcome disruption in economy and unemployment caused by the Covid-19 pandemic. Alterations to the National Mineral Policy, phasing out of mining activities from eco-sensitive areas, setting up of a comprehensive regulatory […]
Current account surplus likely due to recent reforms: CEA
NEW DELHI: India may witness a current account surplus due to the recent economic reforms announced by the government, said the Chief Economic Adviser (CEA), Krishnamurthy Subramanian. Speaking at CII’s MNCs Conference 2020 on Monday, the CEA also said that the implementation of the labour law reforms has eased compliance burden by way of increased […]
Realty brokers upbeat about sector outlook: Report
NEW DELHI: As housing demand has improved over the past couple of months, the sentiments of real estate brokers have also risen regarding the outlook for the sector, showed a report by 360 EDGE. Ankit Kansal, Founder & MD, 360 Realtors and 360 EDGE said: “Incremental growth across various macroeconomic and socio-economic parameters has also […]
Greater Noida West gets it first hotel-The Gaurs Sarovar Portico
NEW DELHI: Noida-based realty firm Gaurs Group has announced the opening of its first hotel The Gaurs Sarovar Portico in Gaur City, Greater Noida West. Sarovar Hotels is a renowned chain of Hotels and brings with it the glamour and glitz of hospitality industry. The Gaurs Sarovar Portico is the first luxury hotel in the […]