VVIP Chopper case: Enforcement Directorate arrests Christian Michel
NEW DELHI: The Enforcement Directorate (ED) on Saturday arrested Christian Michel, the alleged middleman arrested in the AgustaWestland VVIP chopper deal case. Michel was produced before Special Judge Arvind Kumar where the ED sought his 15 days custody. The court allowed the ED to interrogate the British national inside courtroom for 15 minutes after the […]
India authorises 10 central agencies to monitor any computer; sets off political storm
NEW DELHI: Ten central agencies have been authorised by the government of India to intercept information from any computer, a move that set off a political storm Friday with the opposition accusing the government of trying to create a “surveillance state” But the Centre said the rules for intercepting and monitoring computer data were framed […]
India to infuse Rs 83,000 crore in PSBs in next few months
NEW DELHI: Finance Minister Arun Jaitley on Thursday said the government will infuse Rs 83,000 crore in public sector banks (PSBs) in the next few months of the current fiscal. Earlier in the day, the government sought Parliament’s approval for infusion of an additional Rs 41,000 crore in the state-owned banks through the second batch […]
Huge investment opportunities for Turkish construction firms in India: Suresh Prabhu
NEW DELHI: Huge investment opportunities exist in India in various sectors including construction for Turkish companies, Commerce and Industry Minister Suresh Prabhu said on Tuesday. He said all issues such as trade deficit, raised by Turkey, would be looked upon by India. “There is a huge potential for Turkish construction companies to operate in India,” […]
FIIs outflows near Rs 1 trillion so far in 2018
NEW DELHI: Foreign investors’ portfolio investments have long been known as ‘hot money’ that comes in fast but can go out even faster and it is the outward journey that seems to be the underlying theme for the Indian capital markets as 2018 draws to a close, with net outflows nearing the Rs 1 lakh […]
India extends USD 1.4 billion assistance to Maldives
NEW DELHI: Prime Minister Narendra Modi on Monday announced USD 1.4 billion financial assistance to Maldives after he held extensive talks with President Ibrahim Mohamed Solih during which both sides vowed to deepen security cooperation in the Indian Ocean region. The two countries also inked four pacts, including one on visa facilitation. “We held successful […]
RBI’s forex reserves marginally up to $393.734 billion
NEW DELHI: India’s foreign exchange reserves increased by $ 16.6 million to $393.734 billion in the week to 7 December, mainly due to a rise in foreign currency assets, according to the Reserve Bank of India (RBI) data. In the previous week, the reserves had increased by $932.8 million to $393.718 billion. In the reporting […]
Public sector banks do not have any plan to close ATMs
NEW DELHI: Public Sector Banks (PSBs) do not have any plans to shut down their ATMs, Minister of State for Finance Shiv Pratap Shukla informed Parliament. The statement assumes significance amidst a report by the Confederation of ATM industry (CATMi) warning that nearly half of the 2.38 lakh machines run the risk of closing down […]
Jawa opens dealerships in Pune, first in India after re-entry
NEW DELHI: Czech motorcycle brand Jawa, which re-entered the Indian market last month with the introduction of three models, on Saturday announced the launch of its first two dealerships in the country in Pune. With the two dealerships— at Chinchwad and Baner in Pune — becoming fully operational, customers can book and test-ride Jawa and […]
India rules out JPC probe in Rafale deal
NEW DELHI: Bolstered by the Supreme Court of India verdict on the Rafale deal, the government on Friday ruled out the possibility of a Joint Parliamentary Committee probe into the contract and mounted a strident counter-attack on the Congress, saying the “deaf” will never hear an answer. At a joint press conference with Defence Minister […]
Exports up 0.8% in November; trade deficit widens to $16.6 billion
NEW DELHI: India’s exports grew by 0.80% to $26.5 billion in November, according to commerce ministry data. Imports rose by 4.31% to $43.17 billion during the month, leading to widening of the trade deficit to $16.67 billion. The deficit widened despite a steep decline of 15.6% in gold imports to $2.75 billion during the month […]
India to increase public health spending to 2.5 per cent of GDP
NEW DELHI: India is set to increase its public health spending to 2.5 per cent of its GDP by 2025, Prime Minister Narendra Modi said Wednesday, as he asserted that women, children and youth will continue to remain at the heart of every policy, programme and initiative of the government. Addressing the 2018 Partners’ Forum […]
India sells over 3% stake in NBCC to CPSE ETF
NEW DELHI: The government of India has sold 5.72 crore shares, representing 3.18 per cent stake, in state-owned NBCC Ltd to Reliance Nippon Life Asset Management Ltd, which manages central public sector enterprise exchange traded fund (CPSE-ETF), the construction company said on Friday. In a filing to the BSE, NBCC said the President of India, […]
Qualcomm hopeful of faster 5G deployment in India
NEW DELHI: Mobile chipmaker Qualcomm is hopeful that 5G technology would be deployed in India at the same pace 4G networks were rolled out and noted the new-age technology offered great potential for consumers and enterprises alike. Speaking to PTI, Qualcomm Incorporated President Cristiano Amon said he is extremely happy with the pace at which […]
India appoints Krishnamurthy Subramanian as Chief Economic Adviser
NEW DELHI: The government of India on Friday appointed ISB Hyderabad professor Krishnamurthy Subramanian as Chief Economic Adviser for a period of three years. The post of CEA had been lying vacant since Arvind Subramanaian left the finance ministry after a four-year stint earlier this year. “The Appointments Committee of the Cabinet (ACC) has approved […]
AgustaWestland scam: UK seeks information from India on Christian Michel extradition
NEW DELHI: The UK government on Wednesday said it has sought urgent information from India on the circumstances surrounding the detention and extradition of Christian Michel, the alleged middleman in the Rs 3,600-crore AgustaWestland VVIP chopper scam case, who is facing allegations of bribery. The businessman, a British national, was arrested in the UAE and […]