Adani Group to invest Rs 5,500 crore in Uttar Pradesh’s food processing, power sectors
NEW DELHI: Adani Group will invest Rs 5,500 crore over the next five years in power transmission and food processing sectors in Uttar Pradesh, its chairman Gautam Adani said on Sunday. Speaking on the occasion of the second ground breaking ceremony that will see the launch of multiple projects by corporates, Adani said he had […]
Flipkart CEO sees Uttar Pradesh becoming India’s first trillion-dollar state economy
NEW DELHI: Projects that formed part of the second Ground Breaking Ceremony will help in Uttar Pradesh’s quest to be first trillion-dollar state economy in India, Flipkart Group Chief Executive Officer Kalyan Krishnamurthy said in Lucknow on Sunday. “The groundbreaking ceremony will play a key role in propelling Uttar Pradesh as an industrial and innovation […]
ICICI Bank posts standalone net profit of Rs 1,908 crore for June quarter
NEW DELHI: Improvement in asset quality led ICICI Bank to report a consolidated net profit of Rs 2,513.69 crore for the June quarter on Saturday, against Rs 4.93 crore profit in the year-ago period. On a standalone basis, the second largest private sector bank by assets reported a net profit of Rs 1,908 crore against […]
Reliance Jio is India’s biggest telecom player; Voda Idea user base dips to 320 million
NEW DELHI: Reliance Jio has become India’s largest telecom company with 331.3 million subscribers, after Vodafone Idea on Friday reported a decline in its user base to 320 million in June 2019. Reliance Jio had a user base of 331.3 million in June 2019. Jio, which started operations three years ago and is owned by […]
DCC approves imposing Rs 3,050 crore penalty on Airtel, Vodafone Idea
NEW DELHI: The Digital Communications Commission (DCC), the telecom department’s apex decision-making body, on Wednesday approved imposing cumulative penalty of Rs 3,050 crore on Bharti Airtel and Vodafone Idea for not providing points of interconnection to Reliance Jio. “DCC has accepted Trai recommendation on penalty on Airtel, Vodafone Idea. It will send same recommendation to […]
Rajya Sabha clears RTI Bill; Parliament session to go on till August 7
NEW DELHI: The government of India has decided to extend Parliament session till August 7, Parliamentary Affairs Minister Pralhad Joshi said in the House on Thursday, after the Triple Talaq Bill was passed in the Lok Sabha. The Right to Information (RTI) Amendment Bill was also passed in the Rajya Sabha by a voice vote. […]
Maruti Q1 net dips 32 per cent at Rs 1,377 crore
NEW DELHI: The country’s largest carmaker Maruti Suzuki India (MSI) on Friday reported 31.67 per cent decline in consolidated net profit at Rs 1,376.8 crore for the first quarter ended June 30, on account of lower sales volume and higher depreciation expenses. It had posted a net profit of Rs 2,015.1 crore in April-June 2018-19, […]
$2.7 billion investment in real estate sector in first half of 2019
NEW DELHI: Sanjay Dutt, Chairman, FICCI Real Estate Committee, and MD and CEO, Tata Realty and Infrastructure Ltd today said that the Indian real estate sector has started reviving and the first half of the year has already seen $2.7 billion investment. Speaking at the ‘Conference on Real Estate Financing’, organised by FICCI,Dutt said that […]
CAIT demands action against M S Dhoni for endorsing realtor Amrapali
NEW DELHI: Traders’ body CAIT on Thursday wrote to Union Consumer Affairs Minister Ram Vilas Paswan seeking action against cricketer M S Dhoni for his endorsement and advertisements promoting realtor Amrapali Group, whose registration has been cancelled by the Supreme Court. Court-appointed forensic auditors have told the Supreme Court that Amrapali Group had entered into […]
China gave India satellite data on flood-hit areas on Isro request
NEW DELHI: China has provided India satellite data on the country’s flood-hit regions to assist in New Delhi’s flood relief efforts, the Chinese ambassador here said on Friday. The satellite data was given after the Indian Space Research Organisation’s (ISRO) request for international disaster relief support, China’s Ambassador to India Sun Weidong said. “Following ISRO’s […]
RBI panel for hike in collateral free lending, MUDRA loan limit to Rs 20 lakh
NEW DELHI: A committee constituted by the Reserve Bank of India (RBI) has recommended increase in the collateral free lending limit to Rs 20 lakh for MSMEs and self-help groups, Parliament was informed on Thursday. The committee has also recommended revision of loan limit sanctioned under MUDRA (Micro Units Development and Refinance Agency) to Rs […]
Bhutani Infra to invest Rs 1,200 crore in Noida
NEW DELHI: Realty firm Bhutani Infra is investing Rs 1,200 crore to develop a commercial project in Noida (Uttar Pradesh) to tap into the rising demand for office space from corporates and co-working players, a top company official said. The company has so far completed about a dozen commercial projects in East Delhi as well […]
Maharashtra government doubles minimum wages of workers
MUMBAI: The Maharashtra government on Wednesday doubled the minimum wages of workers employed in shops and establishments across the state. Talking to reporters, Labour Minister Sanjay Kute said the decision will benefit nearly one crore workers employed in 10 lakh shops and establishments in the state in 67 different types of employment. “As per clause […]
GDP growth to be flat at 6.8% in FY20: Report
NEW DELHI: The economy will not be able to achieve the official forecast of 7 percent growth in FY20, making it a second consecutive year of sub-7 percent expansion, says a report. Singaporean lender DBS estimates FY20 growth to stay at 6.8 percent, the same as FY19. The economic survey earlier this month had pegged […]
Illegal sand mining: Supreme Court issues notices to Centre, CBI, 5 states
NEW DELHI: The Supreme Court on Wednesday sought responses from the Centre, CBI and five states on a plea which sought prosecution of entities involved in illegal sand mining. A bench headed by Justice S A Bobde issued notices to the Centre, the Central Bureau of Investigation, Tamil Nadu, Punjab, Madhya Pradesh, Maharashtra and Andhra […]
254 startups get Rs 1,700 crore investment from AFI
NEW DELHI: As many as 254 startups have received investment to the tune of over Rs 1,700 crore from the SEBI-registered Alternative Investment Funds (AIF) and the central government has also set up a Fund of Funds for Startups (FFS) with corpus of Rs 10,000 crore, Commerce Minister Piyush Goyal said on Wednesday. Goyal said […]