Doubling farm income to make farming sustainable, says FM

Monday, 18 Dec 2017 | PNS | New Delhi

Finance Minister Arun Jaitley on Saturday said the Government has undertaken the ambitious task of doubling farmers income by 2022 so that farming becomes sustainable. Observing that India has a huge population dependent on agriculture for livelihood, he said, “therefore, increase in the purchasing power of this group is extremely important...

Will carry forward SBI’s 211-yr-old legacy with same level of efficiency, vision like my predecessors: Rajnish Kumar

Monday, 18 Dec 2017 | Excerpts

State Bank of India Chairman Rajnish Kumar believes that credit growth and a forward movement on resolution of stressed assets are his immediate top priorities in the bank. Kumar, who assumed the charge as Chairman on October 7, 2017, after the departure of his predecessor Arundhati Bhattacharya, has served in...

FinMin asks banks to open MSME intensive branches

Monday, 18 Dec 2017 | PNS | New Delhi

In order to increase credit availability to small businesses, the Finance Ministry has asked public sector banks to open MSME intensive branches. Micro, small and medium enterprises (MSMEs), which are a huge employment generator in the country, contribute 40 per cent of the India's manufacturing. To cater to the segment, banks have...

PSB recap: Not all banks to get capital support in first tranche

Monday, 18 Dec 2017 | PNS | New Delhi

Not all banks will be eligible for capital support of the Government this fiscal, but those who have performed relatively better and need capital most will be considered for fund infusion, sources said. It is not necessary that all banks will be issued recapitalisation bonds in the first tranche, but the...

Govt should dilute stake in PSBs to 33% in next 3 years, says CII

Monday, 18 Dec 2017 | PTI | New Delhi

The Government should bring down its stake in public sector banks (PSBs) to 33 per cent in the next three years as it plans to recapitalise banks to strengthen NPA-hit lenders, industry body CII said. “Over the next 2-3 years, the Government could consider bringing down its stake in most PSBs...

Indian exports to China goes up by over 53% in Oct

Monday, 18 Dec 2017 | PTI | Beijing

India’s exports to China registered a sharp increase of over 53 per cent year-on-year to reach $1.24 billion in October, but the trade deficit continued to mount, according to data released by the customs. The trade deficit for October stood at $3.86 billion. Despite the strains in the bilateral ties,...

ONGC tears into DGH proposal to sell oil, gas fields

Monday, 18 Dec 2017 | PNS | New Delhi

State-owned ONGC has torn into regulator DGH’s proposal for auctioning its discovered oil and gas fields, saying national oil companies can raise production if they are offered the same fiscal concessions as being extended to private companies. In para-wise comments on the Directorate General of Hydrocarbons’ (DGH) proposal to auction 60...

DoT mulls to allot backhaul spectrum through auction in lieu of ‘fixed fee’

Monday, 18 Dec 2017 | PTI | New Delhi

The Department of Telecom’s (DoT) working group on backhaul spectrum -- including E and V bands that connect mobile towers with each other -- is mulling to allot such airwaves through auction instead of ‘fixed fee’ as suggested by the sector regulator TRAI. “The working group on microwave access and microwave...

Bitcoin-inspired illicit investment schemes to face regulatory axe

Monday, 18 Dec 2017 | PTI | New Delhi

Market watchdog Sebi will come down heavily on illicit ‘initial coin offers’ seeking public investments with promise of high returns from Bitcoins and other virtual currencies, amid a mushrooming of such schemes in the absence of any regulatory regime. However, Sebi is not keen to take on the mantle of a...

SIAM seeks two GST rates for PVs

Monday, 18 Dec 2017 | PNS | New Delhi

Automobile industry body SIAM is seeking two tax rates for passenger vehicles (PVs) under the GST regime instead of multiple rates levied currently, as part of its wish list for the upcoming budget. The industry body has also sought from the FM Arun Jaitley a special tax rate of 12...


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‘Ban entry into Puri temple Garvagriha’

17 Dec 2017 | PNS | BHUBANESWAR

The State Government has recommended to the Shree Jagannath Temple Administration (SJTA) to stop entry of devotees into the sanctum sanctorum (Garvagriha) of the shrine. In a letter to the SJTA, the Government has asked for restrictions on darshan of the deities by devotees, including VIPs...

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Police probing from different angles in dead bodies’ case

18 Dec 2017 | PNS | Dehradun

Police are investigating different possibilities in the case of the two men found dead at the Sant Nirankari Satsang Bhawan on Friday. The bodies of Kamal Ram, a native of Rudraprayag and Sonu Kumar of Dehradun were found at Sant Nirankari Satsang Bhawan near Haridwar Bypass...

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