Dharmendra Pradhan to co-chair IGC meet with Kazakhstan

Petroleum Minister Dharmendra Pradhan will co-chair the two-day meeting of the Inter-Governmental Commission (IGC) with Kazakhstan beginning on Tuesday in the central Asian nation's capital at Astana, an official statement said here.

According to the Indian petroleum ministry, Kazakhstan will be represented in the talks by its Energy Minister Kanat Bozumbayev.

"The

Poor sanitation keeps away many tourists from India: Prakash Javadekar

India has more to offer to tourists than any other country but many prefer to stay away given the poor sanitation in the country, union HRD Minister Prakash Javadekar said on Tuesday.

"We have more places worth visiting than any other country, but Paris alone draws 10 times more tourists than entire India. You know why this is so? Because our tourist spots are not clean," Ja

Exclusive: U.S. defence firms want control over tech in Make-in-India plan

By Aditya Kalra and Sanjeev Miglani

NEW DELHI - U.S. defence firms offering to set up production lines in India to win deals worth billions of dollars want stronger assurances they won't have to part with proprietary technology, according to a business lobby group's letter to India's defence minister.

These companies are also saying they shouldn&

Two Indian renewable power producers plan to sell $750 million in domestic bonds: sources

By Promit Mukherjee and Krishna Merchant

MUMBAI/SINGAPORE - Two of India's biggest renewable energy companies, Greenko Group PLC and ReNew Power Ventures Pte Ltd, plan to sell a combined $750 million worth of rupee-denominated bonds in the domestic market, three bankers told Reuters on Tuesday.

The pair turned to the domestic market after the central ban

Normalisation of India-Denmark relations to boost trade ties

Normalisation of India-Denmark relations, that got a push with the launch of a direct flight between New Delhi and Copenhagen, will boost bilateral trade, which is billed to touch the $3 billion-mark by the end of 2017.

The relations between India and Denmark have historically remained cordial. In 2011, however, they were affected by the non-extradition of Niels Holck, better known as

Railways planning faster trains on Mumbai-Delhi line: Report

The Indian Railways has said that it is planning to introduce a brand new and faster Rajdhani Express on the Mumbai-Delhi line, the third Rajdhani train on the route, in the next few months. Commenting on the issue, a Rail Official told the media, “The new train, likely to be launched by the Diwali this year, will cover the distance between Bandra (in Mumbai) to Nizamuddin station (in Del

Foreign tourist arrivals rise 11% in August 2017

An increase of around 11 per cent was registered in foreign tourist arrivals (FTAs) in the country in August compared to the same period last year. The number of FTAs in August was 7.24 lakh as compared to 6.52 lakh in August 2016 and 5.99 lakh in August 2015, a ministry of tourism release said. "The growth rate in FTAs in August, 2017 over August, 2016 is 11.0 per cent compared to 8.8 per

RBI cancels licence of Lokseva Sahakari Bank

The Reserve Bank of India (RBI) has cancelled the licence of Lokseva Sahakari Bank Ltd., Pune, Maharashtra to carry on banking business, with effect from the close of business on September 18, 2017.

The Registrar of Co-operative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appointing a liquidator for the bank, the central bank said in a

L&T Mutual Fund declares 0.01% dividend

L&T Mutual Fund has announced 0.01 per cent dividend under dividend payout option of scheme named as “L&T Liquid Fund - Daily Div Reinvestment Plan” on the face value of Rs 1000 per unit. The record date for the dividend was September 14. The latest NAV of the scheme is Rs 1011.78.

The investment objective of the open ended liquid fund scheme is to generate reasona

Government plans to make India no. 1 in power generation: Minister

Union minister R K Singh has said that the Government is planning to make India the number one country in both generation and consumption of power but set no time-frame to achieve the goal. Commenting on the issue, Union minister R K Singh told the media, "We are the third largest country in the world vis-a-vis power generation but we are the fourth largest in power consumption. We have to

Bank unions approach Finance Minister for FRDI Bill withdrawal

Bank unions have requested Finance Minister Arun Jaitley to withdraw the FRDI Bill as it proposes to empower authorities with sweeping powers to wind up public sector banks and insurance companies, reported PTI. Already, there are many rules and legislations in place under the existing Acts that deal with winding up of financial institutions, United Forum of Bank Unions (UFBU) said in its repre

Mutual Funds folios surpasses 6-cr mark at August -end on high retail push

Showing a growing interest for mutual funds among investors, the number of folios has grown by 2.4 per cent to cross 6 crore at the end of August, according to ICRA, reported PTI. The total folio count at the end of August stood at 6.08 crore, 2.4 per cent higher compared to July.

The growth was primarily on the back of 10.9 lakh new folios added to the equity category (including equi

Fuel prices may come down by Diwali: Dharmendra Pradhan

Petroleum and Natural Gas Minister Dharmendra Pradhan said that fuel prices may come down by Diwali, which is next month, reported PTI. The comments come amid criticism by opposition parties of a sharp rise in oil prices after the daily rate revision mechanism was introduced by the government recently.

"Fuel prices may come down by Diwali festival," said the minister who was

Steel ministry focuses on converting thermal coal into coking

Steel Minister Chaudhary Birender Singh on Monday said the ministry was focusing on converting thermal coal into coking coal which is considered to be an important ingredient of steel making.

"Some sort of innovation showed thermal coal can be used as coking coal. For that, we wanted private sector to put up their washeries at the pit-head. If, by 2020, at least 20 washeries woul

TRAI issues consultation paper on local manufacturing of telecom equipment

In order to give the necessary boost to local manufacturing of telecom equipment, the Indian telecom regulator on Monday issued a consultation paper.

The main objective of the paper is to identify the policy measures required to boost innovation and productivity of local telecom manufacturing in India and examine the existing patent laws in the context of promoting local manufacturers

Rs 300,000 cr road sector loans saved from turning NPAs: Nitin Gadkari

The National Democratic Alliance (NDA) government has managed to save bank loans worth Rs 300,000 crore to the road sector from turning into non-performing assets (NPAs), Union Minister for Road Transport, Highways and Shipping Nitin Gadkari said here on Monday.

He said 403 road projects involving Rs 300,000 crore were stalled when the NDA assumed power at the Centre in 2014.

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Talented developers` community gives India an edge: IBM

India has a distinct advantage over other countries when it comes to deploy digital solutions owing to its talented developers' community, an executive from IBM said on Monday.

According to Harriet Green, General Manager, Watson Internet of Things (IoT), Customer Engagement and Education, IBM, the capabilities that the vast Indian developers' community is mastering is unparall

India`s domestic air passenger traffic up 16% in August

Domestic air passenger traffic rose to 96.90 lakh in August -- up 15.63 per cent -- from 83.81 lakh reported for the corresponding month of 2016, official data showed on Monday.

On a sequential basis, total domestic air passenger traffic had risen by 12.43 per cent to 95.65 lakh in July.

Data furnished by the civil aviation regulator Directorate General of Civil Aviation (DG

Traders can register under GST Composition scheme up to month-end

Traders with up to Rs 75 lakh annual turnover, who are yet to register themselves under GST, can do so now until September 30, as the Goods and Services Tax Network (GSTN) on Monday opened a window for such registrations, it said.

"Many taxpayers who migrated after August 16 could not avail this facility. To make this facility available to all those who could not opt for Composit

Nuclear much cheaper option than renewable energy: Rosatom

With falling renewable energy prices worldwide, as seen from domestic rates of Rs 2.44 and Rs 3.46 per unit revealed through auctions for solar and wind, respectively, a leading nuclear operator has said that atomic power still remains a cheaper clean energy option given the additional costs involved in making renewables grid-compatible.

"Let's be very careful with these figu

Maharashtra governemnt plans to set up 9 textile parks

With an aim to supplement farmers' income through value-added products, the Maharashtra government is planning to set up nine textile parks in the northern cotton-growing regions of the state. "There is ample cotton growing in northern Maharashtra and there is no value addition. We are planning to set up nine textile parks there," said Subhash Rajaram Desai, industries minister of

RBI to sell government securities worth Rs 100 bn on September 28

The Reserve Bank of India on Friday said that it will auction Government of India Dated Securities worth Rs 100 billion on September 28, 2017. “Based on the current assessment of prevailing and evolving liquidity conditions, the Reserve Bank has decided to conduct sale of Government securities under Open Market Operations for an aggregate amount of Rs 100 billion on September 28, 2017 thr

Cement sector to be boosted by big infrastructure projects: Shailendra Chouksey

Industry body CMA has said that Indian cement sector will be bolstered by big infrastructure projects like high speed rail corridors, and their cascading effect will spur demand. According to the Cement Manufacturers Association (CMA), the industry has 100 mt (million tonnes) of excess capacity and so, it is in a comfortable position to supply additional demand of 3 5 mt every year coming from

AEPC for fiscal support to boost textile exports

The Apparel Export Promotion Council (AEPC) has called on the government to extend fiscal support to the sector to boost exports, reported PTI. A delegation of AEPC, led by its Vice Chairman H K L Magu, met Commerce and Industry Minister Suresh Prabhu on the issue. The council apprised the minister about the major constraints being faced by apparel exporters, AEPC said in a statement.

Tariff discount of power cos may lead to Rs 125 cr savings

The 10 power firms engaged in long-term coal supply contracts have offered tariff discount of up to 4 paise per unit, a move that may result in savings of nearly Rs 125 crore per annum, reported PTI. Coal India Ltd (CIL) held the bidding on September 11-12 for independent power producers (IPPs) with power purchase agreements (PPAs).

"Out of 14 eligible bidders, 10 participated in