United Bank of India increases MCLR by 5 basis points
NEW DELHI: Public lender United Bank of India has increased the marginal cost of funds based lending rate (MCLR) by 5 basis point or 0.05 per cent across tenors. “The Asset Liability Management Committee of the Bank..has revised the tenor based MCLR of the bank with effect from September 14, 2018,” United Bank of India […]
Jet Airways’ Mumbai-Manchester service to now operate five days a week
NEW DELHI: Jet Airways, India’s premier international airline is all set to introduce the country’s first non-stop service between Mumbai and Manchester effective 05th November, 2018. The airline’s latest service connecting India via its commercial capital, with Manchester – the 3rd largest city in the UK will further strengthen Jet Airways’ connect with the United […]
Indian Rupee sinks to new low of 72.91, drops 22 paise against USD
NEW DELHI: The Indian rupee of Wednesday collapsed to a lifetime low of 72.91 against the dollar at the interbank foreign exchange market. The domestic currency was quoting 22 paise lower at a fresh record low of 72.91 against the US dollar in morning trade amid surging crude oil prices and uanabated foreign fund outflows. […]
Chemists call for strike on September 28 against online medicine sale
NEW DELHI: All India Organisation of Chemists and Druggist (AIOCD), announced that they plan to strike on September 28 to oppose online sale of medicines. “We are observing one day strike on Friday, September 28 to protest against any move by the government allowing sale of medicines through internet or allowing e-pharmacies to operate in […]
Haryana announces cut in power tariffs
CHANDIGARH: Haryana chief minister Manohar Lal Khattar on Tuesday announced relief for power consumers in the state. Khattar announced to reduce the power tariff on monthly consumption of up to 200 units from Rs 4.50 per unit to Rs 2.50 per unit. Announcing further relaxation for the people belonging to poor families, Khattar while speaking […]
Jewar airport: Over 90 per cent farmers’ agree to land acquisition
NEW DELHI: As many as 307 farmers Monday consented for acquisition of their land – the maximum in a single day so far – for a proposed international airport at Gautam Buddh Nagar district’s Jewar, officials and MLA Dhirendra Singh said. After initial resistance by some farmers, district officials and Jewar MLA Singh have been […]
German’s Blaupunkt launches 3 series of its LED Televisions
NEW DELHI: Blaupunkt, one of the most admired German consumer electronics brands, accredited with the tag of “Brand of the Century” is making a trailblazing entry into the Indian LED Televisions market. Blaupunkt has unveiled 3 series of its LED Televisions at IFA Berlin on 31st August 2018 in Germany. Subsequently, the Global Management Team […]
ICICI Bank files insolvency plea against Jaiprakash Associates
NEW DELHI: Leading private sector lender ICICI Bank has filed insolvency petition against Jaiprakash Associates before the National Company Law Tribunal (NCLT). The Allahabad bench of NCLT has asked ICICI bank to serve notice to its corporate debtor Jaiprakash Associates within three days and directed Jaypee group firm to file reply by September 17. If […]
Chhattisgarh can become bio-fuel production hub: Nitin Gadkari
NEW DELHI: India’s Road Transport Minister Nitin Gadkari said Monday that Chhattisgarh has immense potential for production of bio-fuel. Addressing a gathering at Charoda in Durg district of the state, he said use of alternative fuels will cut down our dependence on petrol and diesel. Gadkari laid foundation stones of or dedicated total of eight […]
Two independent directors of Jaypee Infratech resign
NEW DELHI: Jaypee Infratech Ltd, which is facing insolvency proceedings, Monday said that the company’s two independent directors — Keshav Prasad Rau and Basant Kumar Goswami — have resigned. While Rau has cited personal reasons for the resignation, Goswami resigned because of his growing age and indifferent health, the debt-ridden firm said in a regulatory […]
Property mapping via drones to boost transparency: Experts
MUMBAI: India’s new drone regulations are set to change the landscape of the real estate sector from December, as the 3-D mapping of properties will not just become powerful tool for marketing but will further boost transparency and accountability, industry experts say. The commercial use of drones under the recently announced DGCA norms has been […]
CBI moves extradition request against Nirav Modi’s brother Nishal
NEW DELHI:The CBI has moved an extradition request to bring back Nishal Modi, the brother of fugitive billionaire Nirav Modi who is accused in USD 2-billion banking fraud case in Punjab National Bank, officials said Monday. The request was sent to the Home Ministry on Friday. The Home Minister will send it to Belgium, where […]
NTPC to invest Rs 9,785 crore for expansion of Talcher plant in Odisha
NEW DELHI: State-run power giant NTPC’s board has approved an investment of Rs 9,785 crore for the 1,320 MW Stage-III expansion of its Talcher thermal power plant in Odisha, a source said. The Talcher plant, one of the oldest and top performing power stations in the country, is situated in Angul district of Odisha. The […]
Foreign investors pull out Rs 56 billion in September on rupee fall
NEW DELHI: Foreign investors have pulled out a massive Rs 56 billion from the Indian capital markets in the last five trading sessions, after putting in money during the previous two months, on unabated fall in rupee and rise in crude oil prices. The latest outflow comes following a net infusion of close to Rs […]
Extremely sad on campaign to run down electric vehicles: Piyush Goyal
NEW DELHI:Union Minister Piyush Goyal Friday expressed disappointment over some companies running a campaign to run down electric vehicles to promote their hybrid cars in India. Speaking here at the Global Mobility Summit ‘MOVE’, the minister alleged that the companies promoting hybrid vehicles “want us to settle for the second best”. “I am extremely sad […]
Niti Aayog asks auto cos to stick to timeline to achieve full e-mobility
NEW DELHI: Niti Aayog Vice Chairman Rajiv Kumar Saturday urged the automobile sector to confine to a timeline for achieving 100 per cent fully electric mobility solutions, powered by renewables. Kumar in his address at the Global Mobility Summit said transformation in the mobility sector requires a collaborative effort from states and all other stakeholders. […]