Suresh Prabhu calls for government-level agreement for diamond imports from Russia
NEW DELHI: India’s Commerce and Industry Minister Suresh Prabhu on Friday called for a government-level agreement with Russia for diamond imports in a manner that does not adversely impact balance of payment of India. He said that India is the hub for cutting and polishing of diamonds and Russia has huge diamond reserves. “If we […]
RBI keeps policy rate unchanged at 6.5% in surprise move
BY: Suvashree Dey Choudhury and Swati Bhat MUMBAI: The Reserve Bank of India (RBI) held its policy rate unchanged, surprising most analysts who had expected a rate increase to combat inflationary pressures arising from high oil prices and a weakening rupee. The monetary policy committee kept the repo rate unchanged at 6.50 percent on Friday, […]
Ravi Shankar Prasad meets top IT honchos, says industry will team up for social initiatives
NEW DELHI: India’s IT minister Ravi Shankar Prasad said on Thursday the Indian IT industry has decided to pool its combined expertise for contributing to various social initiatives, including volunteering for social cause. The minister also stressed that the IT sector needs to work towards coordinated CSR efforts on a common platform for the interest […]
India to finalise Air India revival package in 10-15 days
NEW DELHI: The government of India is likely to finalise a revival package for debt-laden Air India in 10 to 15 days, a senior official said on Thursday. Earlier this year, efforts for strategic disinvestment of the airline failed to take off. The national carrier is estimated to have a debt burden of more than […]
Residential complexes can now be built around railway stations
NEW DELHI: Construction of residential complexes will now be allowed around Indian railway stations as part of an ambitious redevelopment programme of the Indian Railways approved by the Union Cabinet on Wednesday, a source said. The Cabinet approval has cleared the way for the railways to commercially develop land and air space in and around […]
Petrol, diesel prices cut by Rs 2.50 after excise reduction; oil cos absorbing Re 1
NEW DELHI: The government of India on Thursday announced a Rs 2.50 a litre cut in petrol and diesel prices, factoring in excise duty reduction of Rs 1.50 per litre and asking oil companies to absorb another Re 1. Finance Minister Arun Jaitley said the excise duty cut would have an impact of Rs 10,500 […]
Supreme Court of India allows ArcelorMittal, NuMetal to bid for Essar Steel
NEW DELHI: The Supreme Court of India on Thursday granted one more opportunity to mining major ArcelorMittal and Russia’s VTB Capital-backed NuMetal to bid for Essar Steel if they clear their Non-Performing Asset (NPA) dues in two weeks. A bench comprising Justices R F Nariman and Indu Malhotra held that both the firms were ineligible […]
Cabinet approves MoU between India, Russia
NEW DELHI: The Union Cabinet chaired by Prime Minister of India Narendra Modi has approved the Memorandum of Understanding (MoU) between India and Russia on Bilateral Cooperation in the Road Transport and Road Industry. The MoU will be signed during the upcoming visit of Russian President to India. In order to develop and establish formal […]
NAREDCO joins hands with Housing and Urban Affairs ministry for skill training
NEW DELHI: NAREDCO (National Real Estate Development Council) has entered into a Memorandum of Understanding (MoU) with Ministry of Housing & Urban Affairs (MoHUA), Government of India to strengthen the skill trainings and employment opportunities in the construction sector for the urban poor under Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM). The collaboration will also […]
Extremely unfortunate that 5,000 construction workers in Mumbai not registered
NEW DELHI: The Supreme Court of India Monday said it was “extremely unfortunate” that around 5,000 construction workers in Mumbai were not registered under an Act meant for their welfare and directed the Maharashtra government to take action against builders and contractors in this regard. A bench headed by Justice Madan B Lokur asked the […]
40 new petitions in Gujarat High Court against land acquisition for bullet train project
AHMEDABAD: As many as 40 new petitions have been filed in the Gujarat High Court by farmers challenging the land acquisition process for the Mumbai-Ahmedabad bullet train project. A division bench of Chief Justice R Subhash Reddy and Justice V M Pancholi is likely to hear the petitions on Thursday along with similar pleas submitted […]
IGL to set up CNG stations in housing complexes
NEW DELHI: Indraprastha Gas, India’s biggest city gas retailer, is looking at setting up CNG dispensing stations within residential housing complexes to ease queues at CNG pumps, its Managing Director E S Ranganathan said. IGL also plans to foray into e-vehicle charging segment by setting up charging facility at its CNG stations, he said. The […]
India, Uzbekistan ink 17 pacts; to deepen ties in counter-terrorism, defence
NEW DELHI: India and Uzbekistan on Monday inked 17 pacts to boost ties in key areas including defence after extensive talks between Prime Minister Narendra Modi and Uzbek President Shavkat Mirziyoyev on a host of important bilateral and regional issues such as Afghanistan and counter-terrorism. The two countries will also hold joint military training exercises […]
Mamata Banerjee, Raghubar Das resolve to end Massanjore Dam impasse
RANCHI: Chief Minister of Jharkhand Raghubar Das and his West Bengal counterpart Mamata Banerjee have resolved to end the Massanjore Dam dispute through official-level meeting. During Eastern Zonal Council meeting in Kolkata on Monday, Das raised the matter in the presence of Banerjee, an official statement read. The meeting, which was chaired by Union Home […]
PNB scam: ED attaches Nirav Modi’s immovable properties worth Rs 216 crore
NEW DELHI: The Enforcement Directorate (ED) said on Monday it has attached foreign properties of fugitive diamond jeweller Nirav Modi worth Rs 637 crore, including two apartments in New Yorks Central Park, even as the agency continued its investigation into the Punjab National Bank (PNB) fraud case. A senior ED official said the agency had […]
IBBI needs to have more powers, says NCLAT Chairperson
NEW DELHI: The Insolvency and Bankruptcy Board needs to be given more powers, NCLAT Chairperson Justice Sudhansu Jyoti Mukhopadhaya said on Monday and also suggested that there should be regulations for the Committee of Creditors (CoC). The number of cases coming up for resolution under the Insolvency and Bankruptcy Code (IBC) is on the rise, […]