Court convicts Rose Valley group official for money laundering
NEW DELHI: A special PMLA court in Kolkata has convicted an official of a Rose Valley group company and awarded him seven years rigorous imprisonment on money laundering charges, the Enforcement Directorate (ED) said on Saturday. The central probe agency had registered an FIR against the firm, its Chairman Gautam Kundu and others in 2014 […]
Labour Ministry finalises rules under 4 codes, reform to be a reality soon
NEW DELHI: The Ministry of Labour and Employment has finalised rules under the four labour codes paving the way for making reforms a reality by notifying those for implementation soon. The four broad codes on wages, industrial relations, social security and occupational safety, health & working conditions (OSH) have already been notified after getting the […]
Market capitalisation of seven of top-10 most valuable firms jump over Rs 1.40 lakh crore
NEW DELHI: Seven of the top-10 most valuable companies together added Rs 1,40,430.45 crore in market capitalisation last week, in line with a bullish broader market trend with Reliance Industries emerging as the biggest gainer. During the week, the BSE benchmark surged 812.67 points or 1.60 per cent. The companies that witnessed gain in their […]
FASTag declared mandatory from midnight tomorrow
NEW DELHI: Ministry of Road Transport & Highways has decided that all lanes in the fee plazas on National Highways shall be declared as “FASTag lane of the fee plaza” w.e.f midnight of 15th/16th February 2021. Therefore, as per NH Fee Rules 2008, any vehicle not fitted with FASTag or vehicle without valid, functional FASTagentering […]
All steel to be allowed to be used for Highway construction
NEW DELHI: The Ministry of Road Transport and Highways has issued orders that all steel – whether produced from ore, billets, pellets or melting of scrap – would be allowed to be used for National Highway construction, as long as it meets the standards required for specific grades of steel. The steel proposed to be […]
Indian Railways freight revenue surges to Rs 98,000 crore
NEW DELHI: In a heartening new development, first time post Covid, Indian Railway’s cumulative Freight Revenue has surged past last year’s levels and stands at Rs 98068.45 crore as compared to Rs 97342.14 crore to Fy 20-21 in same corresponding. On a month to month basis as well, in first 12 days of February, Railways […]
Narendra Modi inaugurates and lays foundation stones of key projects in Tamil Nadu
NEW DELHI: The Prime Minister Narendra Modi inaugurated and laid the foundation stones for several key projects and handed over the Arjun Main Battle Tank (MK-1A) to the Army, at Chennai today. Speaking in the occasion, the Prime Minister said “these projects are symbols ofInnovation and Indigenous development. These projects will further the growth of […]
Tesla to set up electric car manufacturing unit in Karnataka
BANGALURU: Billionaire Elon Musk’s Tesla Inc will set up an electric-car manufacturing unit in the southern Indian state of Karnataka, according to a government document seen by Reuters on Saturday. “The U.S. firm Tesla will be opening an electric car manufacturing unit in Karnataka,” the state government said in a brief statement. The statement was […]
Prestige Estates’ profit down 59% at Rs 87.8 crore in Q3 FY21
NEW DELHI: Realty firm Prestige Estates Projects Ltd on Thursday reported a 59 per cent fall in consolidated net profit at Rs 87.8 crore for the quarter ended December. Its net profit stood at Rs 216.4 crore in the year-ago period. Total income fell to Rs 1,928.2 crore in the third quarter of this fiscal […]
Finance Bill proposes amendments for enabling FPIs to subscribe to listed debt of REITs
NEW DELHI: The finance ministry on Thursday said the Finance Bill has proposed amendments permitting foreign portfolio investors (FPIs) an entry into debt financing of emerging investment vehicles REITs and InvITs. In the Union Budget for 2021-22, Finance Minister Nirmala Sitharaman proposed to permit FPIs to invest in listed debt securities issued by REITs and […]
Karnataka Chief Minister directs banks to speed up loan approval under PMAY scheme
BENGALURU: Karnataka Chief Minister B S Yediyurappa on Thursday directed the banks not to delay disbursement of loans to eligible beneficiaries under central schemes such as Pradhan Mantri Awas Yojana (PMAY) and Pradhan Mantri Swanidhi Yojana (PMSY). Reviewing the progress of the schemes with bankers and officials at a meeting in Vidhana Soudha here, the […]