Indian Army signs MoU with and PNB
NEW DELHI: On 08 Jan 2019, a Memorandum of Understanding (MoU) was signed between the Indian Army and PNB on the Defence Salary Package. The signing ceremony was chaired by the Adjutant General, Lt Gen Ashwani Kumar and was attended by top dignitaries of PNB headed by Mr Naveen Kumar. A number of additional facilities […]
India introduces quota bill in Lok Sabha
NEW DELHI: The government on Tuesday introduced a Bill in the Lok Sabha for 10% reservation in jobs and educational institutions for the economically backward section in the general category. The Bill, approved by the Cabinet on Monday, was brought in on the last day of the Winter Session of the Lok Sabha. Union Minister […]
Home Minister introduces Citizenship Amendment Bill, 2019 in Lok Sabha
NEW DELHI: India’s Home Minister Rajnath Singh introduced the Citizenship Amendment Bill, 2019 in Lok Sabha today. The Bill seeks to facilitate acquisition of citizenship by six identified minority communities namely Hindus, Sikhs, Jains, Buddhists, Christians and Parsis from Afghanistan, Pakistan and Bangladesh who came to India before 31st Dec., 2014. Moving the Bill, the […]
Securitisation volumes at all-time high of Rs 1.44 trillion in April to December
NEW DELHI: The securitisation market volumes in the country touched a life-time high of Rs 1.44 trillion in the nine months of the current fiscal, with around Rs 78,000 crore generated in the third quarter, says a report. The securitisation market remained buoyant in the third quarter driven by the prevailing liquidity crisis, following defaults […]
Nirav Modi says he can’t return to India
NEW DELHI: Fugitive diamond merchant Nirav Modi, a prime accused in the PNB fraud case, told a court here Saturday that he cannot return to India due to safety concerns and also because his case has been politicised. Modi’s lawyer filed his reply to the Enforcement Directorate’s (ED) plea seeking to declare the diamond merchant […]
India plans to sanction one crore houses before 2020
NEW DELHI: India’s Housing and Urban Affairs Ministry initiated several schemes in 2018 and plans to sanction construction of one crore houses before 2020 under the Pradhan Mantri Awas Yojana (urban), a move aimed at ensuring ‘housing for all by 2022’. The ministry is mandated to implement a number of flagship programmes – Swachh Bharat Mission, […]
Government plans hiring professionals for Air India top positions through global search
NEW DELHI: The government of India plans to rope in professionals for top positions at Air India through a global search process, as part of efforts to revive the national carrier, according to Civil Aviation Minister Suresh Prabhu. With the proposed strategic stake sale of the Air India failing to take off in May this […]
Restrictions on foreign e-commerce companies to hit FDI in India: US industry body
WASHINGTON: Expressing concern over India tightening restrictions on foreign e-commerce companies operating in the country, leading American industry advocacy groups have said that such a move would have a long-term negative impact on the foreign direct investment as well as consumers. Earlier this week, the government announced changes to the foreign direct investment policy for […]
India announces Rs 4,500 crore assistance to Bhutan
NEW DELHI: Prime Minister Narendra Modi on Friday announced a Rs 4,500 crore financial assistance to Bhutan for its 12th five-year plan after holding wide-ranging talks with his Bhutanese counterpart Lotay Tshering In his media statement, Modi said hydro power cooperation with Bhutan is a key aspect of bilateral ties and that work on the […]
Nirav Modi located in UK, British authorities inform India
NEW DELHI: British authorities have informed India that bank fraud fugitive Nirav Modi is living in the UK, the government has said. Replying to a question, Minister of State for External Affairs V.K. Singh told Rajya Sabha that National Central Bureau of Manchester conveyed to Indian agencies that their investigations have led to the location […]
India mulling farm package ahead of 2019 general polls
NEW DELHI: Under attack for the agrarian crisis, the government is contemplating several incentives, including a big financial package, to woo farmers ahead of the 2019 Lok Sabha elections, according to sources. The government’s likely announcement of incentives to boost rural income will come following feedback given by BJP leaders and MPs, besides other stakeholders, […]
PSU banks set to get Rs 28,615 crore capital infusion
NEW DELHI: The government of India is likely to infuse Rs 28,615 crore into seven public sector banks (PSBs) through recapitalisation bonds by the end of this month, sources said on Thursday. This will help banks meet regulatory capital requirement. The disbursement is likely to take place before December 31, sources added. Out of the […]
Investment through P-notes rises to Rs 79,247 crore in November
NEW DELHI: Investments in the Indian capital market through participatory notes climbed to Rs 79,247 crore in November after hitting a nine-and-a-half year low at the end of preceding month. P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be part of the Indian stock market without registering themselves […]
RBI launches survey to capture retail payment habits in 6 cities
NEW DELHI: The Reserve Bank of India (RBI) will capture payment habits of individuals in six cities, including four metropolitan towns. For the purpose, the central bank has launched a ‘Survey on Retail Payment Habits of Individuals (SRPHi)’. The survey will cover a sample of 6,000 individuals from various socio-economic backgrounds across six cities — […]
No need for division of Uttar Pradesh: Rajanth Singh
NEW DELHI: India’s Home Minister Rajnath Singh on Sunday ruled out the division of Uttar Pradesh into four parts and said it was not needed as the state had no dearth of resources. His remarks come after the Aam Aadmi Party (AAP) announced in September that it will launch a campaign to fulfil people’s long-standing […]
GST rates on 22 items cut; cement, auto parts still in highest slab in India
NEW DELHI:Federal indirect tax body, the Goods and Services Tax (GST) Council, on Saturday reduced tax rates on 22 items, of which seven were from the highest slab of 28%. Taxes on items with big revenue implications for the exchequer, such as cement and automobile components, still remain within the 28% bracket. India’s Finance Minister […]