Delhi discoms losing Rs 150 crore annually to power theft by e-rickshaw owners
NEW DELHI: Organised theft of power in Delhi for charging of e-rickshaws has assumed serious proportions with discom sources putting the annual losses due to it at nearly Rs 150 crore. There are three power distribution companies — BYPL and BRPL of BSES and Tata Power Delhi Dsitribution (TPDDL) — that supply electricity to the […]
Maruti Suzuki should aim to export 25% of production: CEO Kenichi Ayukawa
NEW DELHI: The country’s largest carmaker Maruti Suzuki India (MSI) should aim for up to 25 per cent of its production to be exported although it expects overseas shipments to touch 2 lakh units by 2020, according to company MD and CEO Kenichi Ayukawa. The company’s total production combined with that of parent Suzuki will […]
Piyush Goyal announces ‘Vande Bharat Express’
NEW DELHI: Today, Railways & Coal, Minister Piyush Goyal announced the name Vande Bharat Express for Train 18, acknowledging its made-in-India status. He called it a ‘vandaniya’ step towards realisation of New India vision. This train set has been manufactured by Integral Coach Factory (ICF) in the period of 18 months under ‘Make in India’ […]
After Jaitley’s tweet, CBI officer who signed FIR against Kochhar in ICICI-Videocon case transferred
NEW DELHI: The CBI officer-in-charge who lodged FIR in the alleged irregularities pertaining to the sanctioning of loans by the ICICI bank, has been transferred out. Two days later, Union Minister Arun Jaitley went on social media against the CBI FIR suggesting it was “investigative adventurism” and a “journey to nowhere.” On Friday, Finance Minister […]
ACB raids residence of IRS officer, seizes Rs 2.26 crore cash, 82 plots, 25 shops, and 1 petrol pump
NEW DELHI: The Anti-Corruption Bureau (ACB) raided the residence of an Indian Revenue Service (IRS) officer Sahi Ram Meena in Rajasthan’s Jaipur on January 26 and seized Rs 5 lakh in cash. Sahi Ram Meena is currently posted as Deputy Commissioner (Narcotics) in Rajasthan’s Kota. Around Rs 2,26,00,098 in cash, jewellery worth Rs 6 lakh, […]
FPIs pull nearly Rs 6,000 crore in January on global headwinds, upcoming elections
NEW DELHI: Foreign investors have pulled out close to Rs 6,000 crore so far from the Indian stock markets in January and experts believe this trend will continue in the coming months as well. This comes following a collective net inflow of Rs 8,584 crore in the equity markets by Foreign Portfolio Investors (FPIs) during […]
SpiceJet head at Davos: Ambitious fleet growth, expansion plans underway
NEW DELHI: Confident of growth with an ambitious fleet and route expansion plan underway, airline major SpiceJet’s head Ajay Singh has said the focus is also on keeping costs low to ensure profitability. Singh, who was here to participate in the World Economic Forum Annual Meeting that ended Friday, also hoped that the airline would […]
India’s media and entertainment sector may touch Rs 3.73 trillion by 2022
NEW DELHI: The Indian media and entertainment industry is estimated to touch $52,683 million (around Rs 3.73 lakh crore) by 2022 led by increasing disposable income, population and content consumption across the formats, according to a survey. Besides the traditional media such as TV and cinema, new-age digital platforms such as over-the-top (OTT) services would […]
Global issues notwithstanding, 2019 to be growth year for Indian IT
DAVOS: The Indian IT sector faces global headwinds like Brexit but developments around Globalisation 4.0 and 5G technology will bring growth for the industry this year, Tech Mahindra’s MD and CEO C P Gurnani said. He also flagged currency risks, but added that the domestic IT sector will benefit from investments in digital. “Uncertainty and […]
ONGC preparing strategic vision document for 2040
NEW DELHI: State-owned Oil and Natural Gas Corp (ONGC) is mulling on a vision document for 2040 that will lay the strategic roadmap for the nation’s largest oil and gas producer for the next two decades. ONGC Chairman and Managing Director Shashi Shanker, in his speech after hoisting the national flag at the company headquarters […]
ED arrests VVIP chopper scam accused Gautam Khaitan in fresh money laundering case
NEW DELHI: The Enforcement Directorate (ED) has arrested lawyer Gautam Khaitan, accused in the AgustaWestland VVIP chopper case, in connection with a fresh case of possession of black money and money laundering, officials said on Saturday. They said Khaitan was placed under arrest Friday night by the agency sleuths under the Prevention of Money Laundering […]
Supreme Court notice to RBI on pleas seeking contempt proceedings for violating RTI
NEW DELHI: The Supreme Court of India on Friday sought RBI’s response on two pleas seeking contempt proceedings against the central bank and its former Governor Urjit Patel for non-disclosure of information under RTI about some banks. A bench headed by Justice L N Rao issued the notice to the Reserve Bank of India (RBI) […]
Competition Commission clears RIL’s stake purchase in Den Networks, Hathway
NEW DELHI: The Competition Commission of India (CCI) has given go-ahead to Mukesh Ambani-led Reliance Industries Ltd (RIL) to acquire majority stakes in DEN Networks and Hathway Cable & Datacom for a total of Rs 5,230 crore. RIL earlier said it will acquire 66 per cent stake in DEN Networks for Rs 2,290 crore and […]
RIL becoming consumer giant like Alibaba, may rival Amazon, Walmart: Study
NEW DELHI: Oil-to-telecom conglomerate Reliance Industries is evolving from an integrated energy company into a consumer giant like China’s Alibaba and potentially could rival likes of Amazon and Walmart, says a report on Thursday. India’s No1 oil refining and petrochemical company plans to roll out its online shopping platform that will combine its retail arm’s […]
India announce package to boost farmers’ income soon
NEW DELHI: The government of India will soon announce a package for farmers to boost their income, Minister of State for Agriculture Parshottam Rupala said on Thursday amid speculations that the Centre is considering various measures to address distress in the farm sector. The minister, however, did not clarify whether the relief package would be […]
Sebi orders release of Alchemist Infra’s demat account in Rs 1,900 crore illegal scheme case
NEW DELHI: Sebi has ordered release of demat account of Alchemist Infra Realty, the firm allegedly involved in raising over Rs 1,900 crore through unregistered collective investment scheme (CIS). The release order is passed in compliance with the directions passed by Calcutta High Court in December 2018 wherein it had directed to defreeze the demat […]