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India likely to clock 7.5% growth this fiscal: Panagariya

Monday, 24 Jul 2017 | PTI | New York

India is likely to clock a 7.5 per cent economic growth in the current fiscal, NITI Aayog Vice Chairman Arvind Panagariya has said, even as he acknowledged that creation of “good jobs” in the country remains a big challenge. “For the current fiscal year of 2017-18, I expect that we will...

Trai to begin consultation on mobile apps seeking user data

Monday, 24 Jul 2017 | PTI | New Delhi

Mobile apps seeking blanket access to phone users’ information -- even if irrelevant to their functions -- have come under the lens of Trai, which will start consultation on data privacy and security in the telecom sector, according to a top official. “There should be a link between what an application...

MPC members to get Rs 1.5 lakh per meeting, disclose assets every yr

Monday, 24 Jul 2017 | PTI | New Delhi

The Government appointees on the powerful Monetary Policy Committee (MPC) will be paid Rs 1.5 lakh per meeting along with air travel and other reimbursements, but will need to observe a ‘silent period’ seven days before and after the rate decision for ‘utmost confidentiality’. The silent period and confidentiality requirements...

‘ONGC not to make open offer post HPCL acquisition’

Monday, 24 Jul 2017 | PTI | New Delhi

ONGC will not be required to make an open offer to minority shareholders of HPCL fter buying out government’s 51.11 per cent stake as the deal won't trigger takeover norms as did the IOC-IBP merger in 2002, a senior Government official said. The Cabinet Committee on Economic Affairs (CCEA) last week...

Launching Rs 200 note will fill missing middle: SBI report

Monday, 24 Jul 2017 | PTI | NEW DELHI

Introduction of Rs 200 note will fill in the ‘missing middle’ even as the new currency in circulation (CIC) has already reached 84 per cent of the pre demonetisation level, says a report. Cash with banks, a CIC component, has however witnessed a decline over November 2016 level, said...

26 chartered accountants under scanner amid shell companies crackdown

Monday, 24 Jul 2017 | PTI | NEW DELHI

At least 26 chartered accountants (CAs) have come under the scanner of the ICAI for allegedly helping shell companies, a senior official said. The Institute of Chartered Accountants of India (ICAI) is the regulator for accountancy professionals and can initiate disciplinary action against erring members. “The role of (around) 26 chartered...

EIL share buyback to open on July 25

Monday, 24 Jul 2017 | PTI | New Delhi

State-owned Engineers India Ltd’s Rs 658.80 crore share buyback will open on July 25 and close on August 7. According to a regulatory notice by lead manager IDBI Capital Markets and Securities Ltd, EIL plans to acquire 4.19 crore shares at a price of Rs 157 through the...

Govt scraps plan to divest MSTC's arm

Monday, 24 Jul 2017 | PNS | NEW DELHI

The Prime Minister’s Office (PMO) has agreed not to go ahead with the divestment of MSTC's arm Ferro Scrap Nigam Ltd (FSNL) as the entity has no tangible assets barring machinery, a top official said. FSNL, under the administrative control of the Steel Ministry, undertakes disposal of ferrous and non-ferrous...

Jet Airways asks junior pilots to furnish Rs 1 cr bonds

Monday, 24 Jul 2017 | PTI | MUMBAI

Jet Airways has asked junior pilots to furnish surety bonds worth up to Rs 1 crore and serve the airline for at least five to seven years, union sources said. The development comes at a time when many of its junior pilots have been asked to take 10 days off...

Mercedes calls for lower taxes on luxury cars in India

Monday, 24 Jul 2017 | PTI | NEW DELHI

German carmaker Mercedes-Benz has pitched for lower taxes on luxury cars in India, saying the move will help in job creation as well as increase tax collection from the segment. The company reasoned that "better treatment" in terms of taxation could lead to growth of luxury car segment in the...


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Of 4,862 large dams, only 349 have emergency disaster action plans: CAG

23 Jul 2017 | IANS | New Delhi

Only 349 of 4,862 India's large dams have emergency disaster action plans in place, the Comptroller and Auditor General (CAG) of India's performance report on flood control and management schemes of the Water Resources Ministry has revealed. "Out of 4,862 large dams, emergency action plans or disaster management plans of only 349 dams, which is seven per cent, were prepared (March 2016)...

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Sanskar Bharti holds Rangoli-Mehndi competition

25 Jul 2017 | PNS | HAZARIBAGH

The Hazaribagh district unit of Sanskar Bharti organized Rangoli-Mehndi competition in the premises of Hindu +2 High School. Despite continuous rain 140 participated in the Rangoli competition and 78 in Mehndi competition...

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