India, Fiji ink MoU on defence cooperation

India and Fiji has discussed expanded defence partnership in maritime security as Fijian Defence Minister Ratu Inoke Kubuabola met his Indian counterpart Arun Jaitley. An official statement said expanding cooperation in maritime security and naval cooperation were identified as an area of promise by the two ministers.

An MoU on defence cooperation envisaging several areas of cooperati

Government to operationalise 10 National Waterways next year: Reports

The Indian Government has said that it is planning to operationalise at least 10 of the 111 National Waterways next year. As per reports, the Government last week approved allocation of 2.5 per cent of the Central Road Fund (CRF) for NWs that would result in about Rs 2,000 crore proceeds a year for their development.

Commenting on the issue, Union Minister Nitin Gadkari told the media

Airlines should appoint directors only after security clearance: Ministry

Civil Aviation Ministry has said that airline companies should appoint directors only after receiving security clearance and they have at least 90 days time to make the appointment under the companies law.

As per reports, the ministry has come across instances where airline companies have been found violating norms by appointing directors on their boards without getting prior security

Affordable housing emerging as new focus of housing finance firms: Industry

 With a slew of reforms and push from the government, affordable housing -- so far the poor second-cousin of real estate -- is emerging as the preferred segment for housing finance institutions and developers alike, say industry stakeholders and experts.

"Affordable housing is now attracting the interest of more developers who had previously shunned it because of its do

India not yet ready for electric cars: Honda Cars India

Honda Cars said India is not yet ready to have electric cars in large numbers due to the lack of necessary infrastructure and affordability factor, reported PTI. Yoichiro Ueno, President and CEO of Honda Cars India said that his company is developing electric cars but to anticipate a significant number of such cars plying on Indian roads is little early, chiefly because of infrastructure and af

Higher GST on biodiesel to adversely impact industry: BDAI

Raising concerns over the implementation of the Goods and Services Tax (GST), the Biodiesel Association of India feels higher GST rates could adversely impact the sector, reported PTI. "High GST rate could shut the biodiesel industry, which is already reeling under the pressure of complex and varied taxation policies of the states.

Lack of clarity on the policy front has made it

28% GST on tractor parts to hurt companies, farmers: Sonalika

Sonalika International Tractors opposed the 28 per cent levy on tractor parts proposed under the Goods and Services Tax (GST) structure, saying it will hurt the sector and also farmers, reported PTI. The tractor manufacturer said the tax on tractor parts should remain at the existing level of 14 per cent.

"The government has proposed to raise GST on tractor and car parts to 28 pe

Cut prices, pass GST benefits to customers: Government tells telecoms

The finance ministry asked telecom companies to rejig costs and lower prices to pass on the benefits of tax rate reduction under GST to customers from July, reported PTI. Under the Goods and Services Tax regime, which will come into being from July 1, telecom services will attract an 18 per cent levy.

Service providers can claim input tax credit (ITC) which will bring down the effecti

7.45 cr small businesses get loans under Mudra Yojana: Amit Shah

As part of government's effort to fund the unfunded, more than 7.45 crore entrepreneurs have been given bank loans under Pradhan Mantri Mudra Yojana, BJP President Amit Shah said as per the PTI report.

Easy loans have been provided to small businesses like barber shop owners, cobblers and cycle mechanics etc under Mudra Yojana, he told PTI in an interaction. "More than 7.45 c

NPPA asks drug cos to ensure adherence to price control norms

National drug pricing regulator NPPA asked pharma firms to ensure that prices of all their drugs have been fixed correctly by following provisions of drug price control order by the end of next month, reported PTI.

Companies must "self check, self correct and self report violations of law if any by June 30, 2017", National Pharmaceutical Pricing Regulator (NPPA) tweeted. The

RBI to auction 77-Day GOI cash management bill

The Reserve Bank of India on Friday said it will auction a 77-Day Government of India Cash Management Bill worth Rs 30,000 crore on May 30, 2017.

“The auction will be conducted on May 30, 2017 using Multiple Price Auction method, while Settlement Date is May 31, 2017, while Maturity date is August 16, 2017,” said RBI in a notification.

The competitive bids for th

DMRC launches ITO-Kashmere Gate `Heritage Line` to boost tourism

The DMRC has said that it has started the ITO-Kashmere Gate 'Heritage Line'. It has three stations -- Delhi Gate, Jama Masjid and Red Fort. As per reports, the new line, which is essentially an extension of the Violet Line that runs between Faridabad and ITO presently, will take considerable load off the Chandni Chowk and Chawri Bazar stations of the Yellow Line.

As per report

General insurance industry`s GWP grows 16% in April: Reports

General insurance industry has said that it has grown 16 per cent to Rs 12,206 crore in April in terms of gross written premium (GWP) collection. According to Irdai data, in April last year, GWP stood at Rs 10, 500 crore.

The industry saw a higher growth of 30 per cent in terms of GWP during fiscal 2017. However, the April figure doesn't include the crop insurance segment that dro

Government approves investment for improving urban infrastructure: Reports

Union minister M Venkaiah Naidu has said that investments worth over Rs 4 lakh crore have been approved for improving urban infrastructure in the three years of the Modi government.

Commenting on the issue, Union minister M Venkaiah Naidu told the media, "Three years of urban transformation infused new vigour in city and state governments for building a resurgent urban India...Ci

BoB to raise Rs 9k cr via equity dilution in FY18

State-owned lender Bank of Baroda (BoB) plans to raise Rs 9,000 crore through various instruments, including follow-on public offer (FPO), to fund growth during the current financial year, as per the media reports.

The decision in this regard was taken by the board on May 27, 2017. In a filing to the Bombay Stock Exchange, the bank said, “The board has approved raising of additi

Government kicks off hunt for new SBI chief to replace Bhattacharya

The Finance Ministry has started the process for finding the new chief of the country's largest lender State Bank of India (SBI) as Arundhati Bhattacharya’s extended tenure comes to an end on October 6, as per the media reports.

According to a senior finance ministry official, quoted PTI that, “Department of Financial Services has communicated to Banks Board Bureau the

MoEF to finalise emission standards for diesel locomotives: Reports

The National Green Tribunal has said that it has directed the Ministry of Environment and Forests (MoEF) to finalise the emission standards for diesel locomotives within two months.

As per reports, a bench headed by NGT Chairperson Justice Swatanter Kumar passed the order after the counsel for the Central Pollution Control Board (CPCB) refuted its own earlier submission that the emiss

Audi India commences sales offer

German luxury car manufacturer Audi India has commenced a discount offer on its entire range of vehicles ranging from Rs 50,000 to Rs 10 lakh, dealer sources said on Friday.

According to the German luxury car manufacturer, it has commenced offers on sales and service on the entire range of its product offerings with immediate effect until the end of June, 2017.

The company,

Need to promote electric vehicles: Gadkari

Union Road Transport and Highways Minister Nitin Gadkari on Friday said that electric vehicles need to be promoted in order to cut down expenses incurred on crude oil imports.

"E-vehicles need to be promoted in order to cut down the huge crude oil bill, reduce pollution and create cost effectiveness in transportation," Gadkari said at the launch of India's first multi-mo

People more united than ever before in nation building, says Venkaiah Naidu

Minister of Urban Development and Information & Broadcasting M.Venkaiah Naidu on Friday said that the government led by Prime Minister Narendra Modi during the last three years has unified the people more than ever before in nation building besides bringing them out of despair and guiding them towards new horizons and making every citizen proud of being Indian.

He said that by emp

Railways to push for Rs 35k cr fund infrastructure building

Aiming at a major push for infrastructure, the railways will raise Rs 35,000 crore with World Market assistance to create a separate fund for investment in rail sector.

The proposed Railways of India Development Fund (RIDF) would be independent of rail budget and intended for all big ticket rail-based projects, including station redevelopment, rail expansion, port connectivity and fre

Tea Board engages agency to carry out study on tea industry

The Tea Board India on Thursday said it has decided to engage a professional agency to carry out a comprehensive study on the status of tea industry after share of organised sector declined to 66 per cent of country's tea production.

"It has been decided by the Tea Board to carry out a comprehensive study through a professional agency and publish a paper on tea industry

Railways to export 18 diesel locos to Myanmar

The Indian Railways will export 18 modern diesel locomotives to Myanmar soon. The engines worth about Rs 200 crore are manufactured at the Diesel Locomotive Works (DLW) in Varanasi. The first lot of six locomotives are ready to be shipped next month, while the rest will be delivered by December this year.

A high-level team of Myanmar Railways led by the chief of its mechanical and ele

Will request Finance Minister to reduce tax rate on hybrid vehicles: Nitin Gadkari

Union Minister Nitin Gadkari today said that he will urge Finance Minister Arun Jaitley to bring down GST rate on hybrid vehicles and other automobiles that run on alternate fuels. Under the GST rates announced last week, hybrid cars, which are considered eco-friendly, are slated to attract a 15 per cent cess over and above peak rate of 28 per cent, same as those of large luxury cars and SUVs.<

GST implementation may increase expense ratio of fund houses

With 3 per cent increase in service tax likely after the implementation of Goods and services Tax (GST) from 1 July, the expense ratio of mutual fund houses across the country will also go up by 3 per cent. Expense ratio is the measure of the cost incurred by an investment company to operate its mutual fund.

The GST will, however, benefit small MF distributors having an annual income