Kerala government seeks moratorium on repayment of loans
THIRUVANANTHAPURAM: The Kerala government has approached the Centre to put in place a moratorium on repayment of loans till December 31 in order to provide relief to individuals in the unorganised sector, MSMEs, agriculture and others adversely affected by COVID-19 pandemic and the subsequent lockdown. Kerala has sought a moratorium of loans without accrual of […]
Narendra Modi government open to more measures to boost economy
NEW DELHI: The Narendra Modi government is open to coming out with more measures to boost the economy which has been hit by the second wave of the coronavirus pandemic, says Chief Economic Advisor (CEA) K V Subramanian. He, however, added that the demand for a fresh stimulus package has to be considered against the […]
Modi government asks states to ensure lockdown opening up is ‘carefully calibrated’
NEW DELHI: The easing of Covid-related lockdown norms has led to crowding in some markets and other places, the Narendra Modi government ( Centre) said on Saturday, as it urged states to ensure the “extremely important” five-fold strategy of Covid-appropriate behaviour, test-track-treat and vaccination to prevent the spread of the disease. In a communication to […]
WHO working with AstraZeneca, SII, Indian government to restart Covid-19 vaccines shipment
NEW DELHI: The WHO is urgently trying to work with AstraZeneca, Serum Institute of India (SII) as well as the Indian government to restart shipments of COVID-19 vaccines to countries that had to suspend the rollout of second doses of vaccines amid the disruption in supplies, a senior official at the UN health agency has […]
Tremendous potential for proliferation of Wi-Fi hotspots in India: TRAI
NEW DELHI: Tremendous opportunity exists for the rapid proliferation of public Wi-Fi hotspots in India, and the PM WANI initiative can result in a massive scale-up of the internet in rural areas, which will be transformative, Trai Chairman said on Friday. India needs all kinds of technology to serve its digital ambitions, and the technology-neutral […]
Nitish Kumar launches schemes to encourage entrepreneurship in Bihar
PATNA: Bihar Chief Minister Nitish Kumar on Friday launched two schemes aimed at giving a boost to the spirit of enterprise among the states women and youth. Both Mahila Udyami Yojana and Yuva Udyami Yojana promise an assistance of Rs 10 lakh each to applicants. Addressing a function organized on the occasion, the chief minister […]
Support from all sides needed to nurture economic recovery hit by 2nd wave of Covid-19: RVI Governor
MUMBAI: Reserve Bank of India (RBI) Governor Shaktikanta Das has pitched for policy support from all sides — fiscal, monetary and sectoral — to nurture recovery of the economy hit by the second wave of the coronavirus pandemic. The dent on economic activity due to the second wave of the pandemic during April-May necessitated continuation […]
Polycab to acquire Silvan Innovation Labs Private Limited
NEW DELHI: Polycab India Limited (PIL) has signed an agreement to acquire 100% stake in Silvan Innovation Labs Private Limited (Silvan). Silvan is a technology company focused on providing cutting edge automation offerings for homes, offices, banks, retail outlets, hotels and other spaces. Silvan pioneered the concept of home automation in the Indian residential building […]
PNB Housing says pricing for Rs 4,000 crore-deal in line with applicable law
NEW DELHI: Amid concerns raised in certain quarters about its proposed Rs 4,000 crore-deal with Carlyle group, PNB Housing Finance on Wednesday said the process followed in determining the issue price for its securities was in line with the “market practice” followed by listed companies and in compliance with the applicable law. Responding to clarifications […]
Mehul Choksi siphoned off Rs 6,345 crore PNB loan through Hong Kong firms: CBI
NEW DELHI: Absconding businessman Mehul Choksi was running a “circular trade” with companies propped up by him as pearl suppliers in Hong Kong, through which he had managed to siphon off over Rs 6,345 crore borrowed from Punjab National Bank, the CBI has alleged in its supplementary charge sheet in the loan fraud case. The […]
Gautam Adani loses $9 billion in 3 days
By Alex Sazonov NEW DELHI: Indian billionaire Gautam Adani’s dream run up the global wealth rankings is faltering after a media report raising questions about some offshore investors triggered a rout in his conglomerate’s six listed stocks. The 58-year-old tycoon lost more money this week than anyone else in the world, with his personal fortune […]
PHDCCI seeks Modi government support for domestic vaccine industry
NEW DELHI: Industry body PHD Chamber of Commerce and Industry (PHDCCI) has urged the government to play an enabler’s role for the vaccine sector, and sought clarity on the status of the segment under the ambit of the production-linked incentive (PLI) scheme announced for the pharmaceutical sector. In a letter to the Prime Minister’s Office, […]
LIC Housing Finance net profit down by 5% to Rs 398.92 crore in fourth quarter
NEW DELHI: Mortgage financier LIC Housing Finance (LIC HFL) on Tuesday reported a 5 per cent decline in its profit after tax at Rs 398.92 crore in the quarter ended in March 2021 due to higher provisioning for bad loans. It had reported a profit after tax of Rs 421.43 crore in the year ago […]
Ashok Leyland arm acquires electric vehicles maker Switch Mobility Automotive
NEW DELHI: Commercial vehicles major Ashok Leyland on Tuesday said its subsidiary Switch Mobility has fully acquired electric vehicles maker Switch Mobility Automotive Ltd, India. “Switch Mobility Ltd, UK, a subsidiary of the company, acquired the entire shareholding in Switch Mobility Automotive Ltd, India on June 14, 2021,” Ashok Leyland said in a regulatory filing. […]
Shipping Ministry and Civil Aviation Ministry signs MoU for development of Sea Plane Services
NEW DELHI: A Memorandum of Understanding (MoU) between the Ministry of Ports, Shipping and Waterways, Government of India and Ministry of Civil Aviation, Government of India for development of Sea Plane services in India was signed today. Minister of State (I/C) Ministry of Ports, Shipping and Waterways,Mansukh Mandaviya and Minister of Civil Aviation Hardeep Singh […]
Mindtree foundation wins the 2020 golden peacock award for CSR
NEW DELHI: Mindtree Foundation has won the 2020 Golden Peacock Award for Corporate Social Responsibility. The annual Golden Peacock Awards are considered a benchmark of corporate excellence worldwide. A jury chaired by Justice M. N. Venkatachaliah, former chief justice of India, chairman of the National Human Rights Commission, and head of the National Commission for […]