Jalan panel to suggest RBI transfer surplus capital to government in over 3-5 years
NEW DELHI: The Bimal Jalan committee, constituted to assess the optimum size of capital reserves that the RBI should hold, Wednesday finalised its report, sources said. The six-member panel, under former RBI Governor Jalan was appointed on December 26, 2018, to review the economic capital framework (ECF) for the Reserve Bank of India (RBI) after […]
IT dept attaches Rs 400 crore ‘benami’ plot of Mayawati’s brother, wife
NEW DELHI: The Income-Tax Department has attached a ‘benami’ plot worth Rs 400 crore in Noida belonging to BSP supremo Mayawati’s brother and his wife, an official order said. The provisional order for the attachment of the seven-acre plot, “beneficially owned” by Anand Kumar and his wife Vichiter Lata, was issued on July 16 by […]
Jammu and Kashmir governor reassigns portfolios to his advisors
NEW DELHI: Jammu and Kashmir Governor Satya Pal Malik on Wednesday reassigned the charge of departments to his advisors, after former IPS officer Farooq Ahmad Khan joined the team. Khan who was appointed as the governor’s advisor on Saturday, has been assigned the charge of the departments of school education, technical education, Hajj and Auqaf, […]
India approves seven amendments to insolvency law
NEW DELHI: To ensure timely completion of resolution process as well as provide more clarity on rights, the government of India on Wednesday cleared substantial changes to the insolvency law. As many as seven amendments would be made to the Insolvency and Bankruptcy Code, which is helping in resolution of stressed assets. The amendments are […]
Sebi fines GKS Properties Rs 5 lakh for fraudulent trade
NEW DELHI: Markets regulator Sebi levied a fine of Rs 5 lakh on GKS Properties for executing non-genuine trades in the illiquid stock options segment at BSE. The ruling follows an investigation conducted by Sebi in the stock options segment of the bourse between April 2014 and September 2015. During investigation, Sebi noted that 81.38 […]
Action against 836 officers in housing scam in Odisha
BHUBANESWAR: Action has been taken against 836 officers for their alleged involvement in corruption under various housing schemes in Odisha in last two years, said a minister on Tuesday. Punitive measures have been taken against the officials based on complaints of corruption in the poverty alleviation schemes – Indira Awas Yojana/Pradhan Mantri Awas Yojana (G) […]
Delhi government built 23 flyovers in 4.5 years
NEW DELHI:Delhi Chief Minister Arvind Kejriwal Tuesday inaugurated the 2.85 km signal-free new RTR Flyover, and said a few more such projects will come up in the national capital before the end of his government’s tenure. The elevated corridor of Rao Tula Ram Flyover, built at a cost of Rs 205 crore on the Outer […]
Allahabad Bank reports Rs 1,774 crore fraud by Bhushan Power and Steel
NEW DELHI: After Punjab National Bank (PNB), another state-owned lender Allahabad Bank Saturday reported a fraud of over Rs 1,774 crore by Bhushan Power and Steel to the Reserve Bank of India. In a regulatory filing, Allahabad Bank said on the basis of the findings of the forensic audit investigation and the CBI’s FIR against […]
2,000 acres of forest land recovered in Jharkhand
HAZARIBAG: Over 2,000 acres of forest land in two districts of Jharkhand have been recovered from the land mafia since 2017 and their registrations cancelled, a forest official said on Thursday. A plantation drive has been launched in the recovered land to create awareness among the public and generate employment, Sanjeev Kumar, Regional Chief Conservator […]
Modi government removes 312 officials from service for corruption, lack of integrity
NEW DELHI: MoS for PMO Jitendra Singh on Wednesday said that the Centre has forced 312 officials to retire on the grounds of ineffectiveness or lack of integrity. In the Parliament, the government said that the action against the official was taken after reviewing works of around 1.2 lakh officials at the Group A and […]
Fuel price hike to have very marginal impact on inflation: Finance Secretary
NEW DELHI: Finance Secretary Subhash Chandra Garg said on Saturday increased petrol and diesel prices after the duty hike will have “very marginal impact” on inflation and any worry on that front is immaterial. He also said the government expects Rs 90,000 crore from the Reserve Bank of India (RBI) as dividend during the current […]
Key highlights of union budget 2019-20
NEW DELHI: The Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman made her maiden Budget Speech today and presented the Union Budget 2019-20 before the Parliament. The key highlights of Union Budget 2019 are as follows: 10-point Vision for the decade Building Team India with Jan Bhagidari: Minimum Government Maximum Governance. Achieving green Mother Earth and Blue […]
GST collections in June fall to Rs 99,939 crore, down from Rs 1 trillion in May
NEW DELHI: In signs of sluggish momentum in tax collections, Goods and Services Tax (GST) receipts in June fell to Rs 99,939 crore, down from over Rs 1 trillion in the previous month, the finance ministry said on Monday. While the GST collections in June were lower than Rs 1,00,289 crore in May, they were […]
Haryana Chief Minister announces relief for MSME units
NEW DELHI: Giving major relief to Micro, Small and Medium Enterprises (MSME) units of Industrial Area Faridabad, Chief Minister Manohar Lal on Friday made several announcements including regularisation of MSME units developed in more than 70 per cent geographical area of the non-conforming area. The Chief Minister was addressing the entrepreneurs present in Haryana Maha […]
India’s external debt increases 2.63% to $543 billion at March-end: RBI
NEW DELHI: India’s external debt increased 2.6 per cent to $543 billion at end-March 2019, primarily on account of a rise in short-term debt, commercial borrowings and non-resident Indian (NRI) deposits, the RBI said on Friday. The increase in external debt was partially offset by valuation gain resulting from the appreciation of the US dollar […]
India plans common platform for RERA of all states,Union Territories; move to help buyers
NEW DELHI: The government of India has planned to set up a common online platform for the Real Estate Regulatory Authority (RERA) of all states and Union Territories (UTs), a move which will provide an opportunity to home-buyers, builders and authorities to exchange views. Announcing the government’s plan here, Housing and Urban Affairs Secretary Durga […]