Mirzapur: Prime Minister Narendra Modi and visiting French President Emmanuel Macron on Monday inaugurated the biggest solar power plant of Uttar Pradesh in Mirzapur district. The 100 MW plant will be producing 75 MW electricity for the time being. Smiling all along and holding hands off and on, both Modi[Read More…]
New Delhi: The government on Monday introduced a Bill in the Lok Sabha to amend the Chit Funds Act, 1982, to facilitate orderly growth of the sector and provide more financial products to investors. The Chit Funds (Amendment) Bill, 2018, was introduced by Minister of State for Finance Shiv Pratap[Read More…]
New Delhi: Secondary agriculture is an important and independent activity and a division needs to be created in all the three departments of the agriculture ministry to promote it, says the Doubling Farmers’ Income (DFI) Committee. In the 9th of 14 reports uploaded on the ministry’s website, the committee, headed[Read More…]
New Delhi: The Goods and Services Tax (GST) Council on Saturday finalised April 1, 2018 for the nationwide mandatory rollout of inter-state e-Way Bill, Finance Minister Arun Jaitley said here. “Intra-state e-Way Bill will be rolled out in phased manner with four groups of states. Each group will come under[Read More…]
Hyderabad: India will require 1,750 new passenger and cargo aircraft over the next 20 years to meet an exponential rise in both passenger and freight traffic, according to Airbus latest India Market Forecast. To help meet this growth, India will need 1,320 new single-aisle aircraft and 430 wide-body aircraft valued[Read More…]
New Delhi: Gitanjail Group promoter Mehul Choksi, accused of involvement in the Rs 12,600 crore fraud against the Punjab National Bank (PNB), has said it was “impossible” for him to return to India, citing health reasons and suspension of his passport. In a March 7 dated letter emailed to the[Read More…]
New Delhi: Aiming to save Rs 10,000 crore a year by increasing competition and reducing expenditure on procurement, Indian Railways will implement an electronic reverse auction process for high-value items from April 1, a first-of-its-kind initiative for the national transporter. The reverse auction will apply to purchases such as wagons,[Read More…]
New Delhi: The CBI on Thursday said that it has registered a fresh case against diamantaire Nirav Modi for causing a loss of Rs 321 crore to Punjab National Bank (PNB) by availing different credit facilities between 2013 and 2017. According to a Central Bureau of Investigation official, the case[Read More…]
New Delhi: The Supreme Court on Tuesday put a stay on proposed amendments to the Delhi Master Plan 2021 that sought to protect traders from a sealing drive in the national capital by increasing the floor area ratio (FAR). A bench of Justice Madan B. Lokur and Justice Deepak Gupta[Read More…]
New Delhi: The deadline for linking Aadhaar with all customer bank accounts by March 31, 2018, should be extended in view of the disruption to the banking system on account of the Rs 12,600 crore fraud on state-run Punjab National Bank (PNB) by accused diamantaire Nirav Modi, industry chamber Assocham urged[Read More…]
Mumbai: The Indian media and entertainment sector revenues reached $22.7 billion in 2017, and are expected to cross $31 billion by 2020, at a compound annual growth rate (CAGR) of 11.6 per cent, said a study released here on Sunday. The report by the Federation of Indian Chambers of Commerce and[Read More…]
San Francisco: To help local businesses hire the right people, Facebook has expanded the ability to apply to jobs directly on its platform to more than 40 countries. Rolled out in the US and Canada in 2017, Facebook’s job application feature is different from Microsoft-owned LinkedIn as it is focused[Read More…]
New Delhi: The Rs 12,600 crore fraud-hit Punjab National Bank on Thursday clarified that the Reserve Bank of India (RBI) had done risk-based supervision of the bank on an annual basis. “There have been reports in a section of media that Reserve Bank of India has not conducted any audit[Read More…]
New Delhi: A day after the government set a 15-day deadline for public sector banks (PSBs) to examine all non-performing assets above Rs 50 crore for possible fraud and to identify operational and technical gaps, industry chamber Ficci on Wednesday said the move would help in ensuring the much-required cleansing[Read More…]
Mumbai: The fraud-hit Punjab National Bank (PNB) has reported an additional Rs 1,300 crore unauthorised transactions, taking the estimated quantum to Rs 12,600 crore in the scam related to diamond trader Nirav Modi and owner of Gitanjali Gems, Mehul Choksi. In a 11.22 p.m., late night filing with the stock exchanges[Read More…]
Chennai: The Central government is working on different new technologies, including fuel, for maritime transport to cut costs, said Union Shipping and Water Resources Minister Nitin Gadkari here on Monday. “We are working with lot of new technologies nowadays. We are planning to use methanol as a fuel for all[Read More…]
New Delhi: The decision taken by the previous UPA government to tax British telecom multinational Vodafone Group retrospectively was an “erroneous” one, the likes of which the ruling NDA would be loath to repeat, Finance Minister Arun Jaitley said on Saturday. He was responding to a question from the audience here[Read More…]
San Francisco: Twitter has lost almost all of the $70 million money it had invested in music streaming platform SoundCloud, the company said in its 2017 annual report. According to the filing, the company had to write off a total of $66.4 million of the $70 million it had invested[Read More…]
New Delhi: Three fresh cases of financial fraud have come to light after the CBI filed cases against a jeweller, a businessman and a public servant on complaints by three different banks earlier this week, an official said on Saturday. On Thursday, the Central Bureau of Investigation registered a case[Read More…]
Washington: In a move that is likely to hit Indian IT firms and their employees, the Trump administration has announced a new measure that makes it tougher to issue H-1B visas to those to be employed at one or more third-party worksites. The US Citizenship and Immigration Services (USCIS) published[Read More…]
New Delhi: The practice of illegally issuing Letters of Understanding (LoUs) and Foreign Letter of Credits (FLCs) and then rolling them over to favour Nirav Modi and Mehul Choksi groups started in 2008 and continued till these were discovered in January this year, according to CBI officials. The illicit activities resulting[Read More…]
New Delhi: Aiming to help domestic smartphone manufacturers recover lost ground, the government has taken several measures in the recent past, like easing norms for local manufacturing and hiking customs duty on mobile phones. The efforts, however, have brought little cheer for the beleaguered local vendors, as Chinese players —[Read More…]
New Delhi/Mumbai: The Enforcement Directorate on Thursday said it has seized nine high-end luxury cars belonging to Nirav Modi besides crores of assets in connection with its ongoing probe into the Rs 11,300 crore Punjab National Bank fraud case. Coming down on the diamond czar, the ED seized one Rolls[Read More…]
In a blow to government employees, the Employees Provident Fund Organisation (EPFO) on Wednesday decided to lower the interest rate on provident fund deposits to 8.55 per cent from the existing 8.65 per cent. The rate cut decision for the fiscal 2017-18 was taken at the meeting of the Central[Read More…]
Mumbai: Essar Oilfields Services India Ltd announced on Wednesday that it has won a contract worth Rs 28 crore from state-run gas utility GAIL India to drill three firms and two optional wells in the Cambay Basin in Gujarat. Drilling for the project is expected to commence in April-May 2018, Essar[Read More…]
