Five firms work on Expressway; Modi to inaugurate it in August

Five major infrastructure firms have been involved to complete within the targeted 400 days the Eastern Peripheral Expressway, which will be dedicated to the nation by Prime Minister Narendra Modi in August, the government said on Friday.

The 135-km six-lane Expressway will help divert over two lakh vehicles, currently passing through Delhi, while travelling between neighbouring/adjoi

UDAN scheme to create 100 airports over the next 2-3 years: Jayant Sinha

Union Minister Jayant Sinha on Friday said that central government's regional air connectivity scheme -- UDAN -- which was launched on April 27 is slated to create additional 100 airports over the next 2-3 years.

The Minister for State for Civil Aviation was speaking at the Confederation of Indian Industry's (CII) annual session 2017 themed 'Future of Globalisation: Can In

Amazon to keep investing in tech, infra in India: Jeff Bezos

Global e-commerce major Amazon will keep investing in the Indian market to strengthen technology and infrastructure as it looks to overtake local rival Flipkart, reported PTI. The US-based company has already committed investments to the tune of USD 5 billion in India.

"Our India team is moving fast and delivering for customers and sellers... It's still day 1 for e-commerce i

Good policy intervention unlocked huge investment in infra: Minister

The Indian Government has said that wisely crafted policy interventions not only unlocked huge investments but saw record awards for building 15,948 km highways in 2016-17.

Commenting on the issue, Union Minister Nitin Gadkari told the media, “2016-17 has surpassed all previous figures” with “issue of award letters, after completion of all preproject formalities for

Import licence norms for RF equipment should be scrapped: COAI

Cellular industry body COAI has said that the norms requiring telecom firms to acquire import licence for radio frequency (RF) equipment such as antennas and base station should be abolished as they hurt network rollout plans.

Commenting on the issue, a COAI Official told the media, “A single window clearance process should be established for the satellite spectrum assignment co

Commercial coal mining to reduce power cost: Coal Secretary

A top official has said that the opening up of commercial coal mining to private companies will bring in competition in the coal sector and reduce power tariff. Commenting on the issue, Coal Secretary Susheel Kumar told the media, "Let's begin by saying commercial coal mining is a very big reform in the coal sector and the idea is to bring in competition for the monopoly coal miner, wh

Tourism offers development, employment opportunities: Mahesh Sharma

Tourism can create vast development and employment opportunities, Union Tourism Minister Mahesh Sharma said as per the PTI report. Speaking at the concluding session of a three-day training programme for BJP workers here, he said India, under the leadership of Prime Minister Narendra Modi, had made considerable progress on the economic front and this was now being accepted globally.

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Government ratifies 8.65% rate of interest on EPF for FY17

The government has ratified 8.65 per cent rate of interest on EPF deposits for 2016-17 which would now be credited into the accounts of members of the retirement fund body EPFO, reported PTI. The Employees Provident Fund Organisation (EPF) has asked its field formation to credit 8.65 per cent rate of interest into the accounts of subscribers after the Labour Ministry informed the body about app

BMW to be Aditya Birla Group's choice of mobility

BMW Group on Thursday said that it has entered into an international alliance with the Aditya Birla Group to be its preferred premium mobility supplier.

According to the luxury automobile manufacturer, it will supply premium mobility products for the Aditya Birla Group across 50 countries and over 70 companies internationally.

"Our alliance with Aditya Birla Group is ye

Government to resolve NPA issue very soon: Minister

The Indian Government has said that it is not worried about the huge load of bad loans of public sector banks and a likely solution will be worked out soon. The Government also assured that the issue of NPAs would be resolved very soon. Commenting on the issue, Union minister Santosh Kumar Gangwar told the media, "Non-performing assets (NPAs) are not a subject to worry about too much.

Hopeful GST slab will be low for tourism sector

 The Travel Agents Federation of India (TAFI) on Thursday said it is hopeful that the Union government will keep the GST rate low for the tourism sector.

"Anything new that gets rolled out will have a teething problem. What we are looking at is the percentage which is going to be implemented. The lower the percentage, it is good for us because this tax component has to be bo

India, Poland ink agriculture agreement

India and Poland on Thursday signed an agreement on the exchange of information and technology in the agriculture sector.

The agreement, signed by Minister of State of Small Industries Giriraj Singh from the Indian side, will see cooperation between the two nations and emphasise on the need to expand their trade relations.

The signing ceremony took place after the formal tal

Now Northeast set to boost India's global IT business

The northeastern region, long considered backward in growth and business terms, is poised to add heft to India's dominant position in global software exports and the IT industry, a top official said

"Aiming to further boost India's software exports and strengthen the IT industry, six IT parks and hubs have already been set up in six capitals or cities of the northeastern

Suresh Prabhu rules out privatisation of Indian Railways

Railway Minister Suresh Prabhu has ruled out privatisation of Indian Railways, saying it cannot ignore the common man who depends hugely on the public transporter. He also said that the railways will have to bear the public service obligation - which is currently between Rs 30,000 and 35,000 crore - for the foreseeable future.

Prabhu rejected a suggestion that in the long-run the rail

Sebi allows investors to buy MFs via digital wallets

Investors will be permitted to purchase mutual funds worth up to Rs 50,000 through digital wallets with the market regulator Sebi approving the proposal. The proposal, part of efforts to channelise household savings into the capital market as well as promote digital payments in the mutual funds industry, was approved by the Sebi board during its meeting. "Investments up to Rs 50,000 per mu

60% people facing frequent call drops: DoT survey

Nearly 60 per cent people are still facing frequent call drops, with most of them experiencing problem indoors, found a survey by the Department of Telecom (DoT). Out of 3.56 lakh subscribers surveyed across telecom service providers, 2.15 lakh (about 60 per cent) complained about frequent call drops. The DoT, however, made 26.97 lakh calls to subscribers of various telecom operators in the cou

RBI slaps fine on Panjabrao Deshmukh Urban Co-op Bank

The Reserve Bank of India has slapped a fine of Rs 5 lakh on Panjabrao Deshmukh Urban Co-operative Bank Ltd for violation of Know Your Customer (KYC) norms. “The Reserve Bank of India has imposed a monetary penalty of Rs 5.00 lakh on Dr. Panjabrao Deshmukh Urban Co-operative Bank Ltd., Amravati in exercise of powers vested in it under the provisions of Section 47A (1) (b) read with Sectio

Railways continue to acquire land for Indo-Bangla rail link: Reports

The Indian Government has said that land acquisition has been continuing before starting construction work for the Indo-Bangla railway network from Tripura. Commenting on the issue, district Land Acquisition Officer PK Deb told the media, “The West Tripura district administration has started land acquisition process for Agartala-Gangasagar (Bangladesh) railway link and it was likely to be

Railways to develop transparent digital platform to curb corruption

The Indian Railways has said that it is developing a common digital platform integrating information from all departments as a roadmap for the future for bringing transparency in the system. As per reports, this will enable the public transporter to save about Rs 60,000 crore.

Besides, the entire supply and procurement chain of Railways will be digitised to curb corruption. Commenting

Indian Railways seeks partnership with industry

The Indian Railways on Wednesday asked the industry to partner with it for the "complete transformation" of the railway network in the country.

Addressing the fourth Global Rail Convention under the aegis of PHD Chamber of Commerce and Industry here, Railway Board Member (Rolling Stock) Ravindra Gupta said close to 6,000 coaches would be refurbished in near future and this o

FII inflows expected to be $5-10 billion in 2017-18: ICRA

 FII inflows into Indian debt market in 2017-18 are expected to be limited to $5-10 billion, said a report released on Wednesday.

"Aggregate FII (Foreign Institutional Investors) inflows into the Indian debt market in 2017-18 are expected to be limited to $5-10 billion, for which sufficient headroom exists within the existing limits for FIIs," said ICRA rating agency in

Sebi brings in reforms to woo investors, sets stricter rules

Unveiling a raft of reform measures, Sebi approved options in commodity derivatives, unified licence for brokers, mutual fund investments through digital wallets, stricter public offer norms and enhanced safeguards to curb illicit fund flows, reported PTI. The first board meeting of regulator Sebi under the chairmanship of Ajay Tyagi also decided to relax preferential allotment norms for schedu

Prime Minister calls for adapting technology for infrastructure creation

The Prime Minister Narendra Modi on Tuesday reviewed progress of key infrastructure sectors including roads, railways, airports, ports, digital, and coal, and stressed on the use of technology for infrastructure creation.

 The review meeting, which lasted for about four and a half hours, was attended by top officials from PMO, NITI Aayog and all infrastructure Ministries of the G

RBI levies penalty on two Authorised Dealer Banks

The apex banking institution, Reserve Bank of India has slapped a monetary penalty of Rs 70,000 and Rs 10,000 on The Hongkong and Shanghai Banking Corporation Ltd. and Kotak Mahindra Bank respectively for violation of instructions on reporting requirements of FEMA 1999.

The penalties have been imposed in exercise of powers vested in the Reserve Bank under the provisions of section 11(

Rupee hits 20-month high; surges 27 paise against greenback

The Indian rupee continued gaining momentum against the greenback, hitting 20-months high on Wednesday amid persistent selling of dollar by banks and exporters, while sustained fund inflows by foreign portfolio investors also boosted rupee movement.

 The home currency was also supported by weak dollar overseas and firmness in equity market. At the Interbank Foreign Exchange Marke