E-comm cos rake in Rs 9K cr during festive sale: RedSeer

E-commerce companies generated sales of an estimated Rs 9,000 crore (USD 1.5 billion) in the festive sale offered last week on most platforms, research firm RedSeer Consulting said as per the PTI report. "E-tailers generated their higher ever sale performance over the five festive days from September 20-24, 2017...For these festive sale days, RedSeer analysis shows that the e- tailing indu

Government to hold Mudra promotion campaigns from September 27

The government on Monday said it will hold pan-India Mudra promotion campaigns from September 27 to October 17.

A total of 50 campaigns will be organised by the Department of Financial Services (DFS) under the Ministry of Finance.

"The campaign will start on September 27 at Varanasi in Uttar Pradesh, where Union Minister for Railway and Coal Piyush Goyal will participat

MRP mandatory on food packets supplied on trains: Piyush Goyal

A Railway Official has said that Railway Minister Piyush Goyal has ordered listing details to be printed on food packets/casseroles on trains which should also include the MRP of all food items.

As per reports, the Railway Board's circular had listed details like names of the supplier/contractors, weight/grams, date of packing and distinctive symbol of veg/non-veg food items. Surp

Free electricity connections to 4 cr rural households: Prime Minister

Prime Minister Narendra Modi on Monday announced that the government will provide free electricity connections to four crore rural homes so that the poor can have access to power.

The decision will cost the government Rs 16,000 crore which will not be passed on to the poor, Modi said.

He said the connections will be delivered at the doors of the rural poor for which they wou

ACB unearth assets worth Rs 100 cr of Andhra Pradesh official

Andhra Pradesh Anti-Corruption Bureau (ACB) on Monday unearthed assets worth over Rs 100 crore held by a senior government official, its officials said.

Town Planning Department Director Golla Venkata Raghu allegedly amassed wealth disproportionate to his known sources of income, they said.

As many as 15 ACB teams conducted raids at various places in Andhra Pradesh, Telangan

Narendra Modi asks ONGC to make efficient electric `chulha`

Prime Minister Narendra Modi on Monday invited the Oil and Natural Gas Corporation (ONGC) to take up a challenge of making an efficient electric 'chulha' (stove), which would enable cooking through the use of electricity.

At the ONGC function to mark the launch of the SAUBHAGYA Yojana, Modi said: "This innovation would, in one stroke, significantly impact the nation's

ONGC to fund solar electric stove project: Dharmendra Pradhan

 The union government on Monday said energy major ONGC will fund and encourage startups to carry out research and innovation for development of advance electric household stoves which can be powered using solar power.

According to Union Petroleum and Natural Gas Minister Dharmendra Pradhan, funds from the "ONGC StartUp Program" will be used to make the idea of solar-pow

Nitin Gadkari to unveil NH projects worth Rs 1,928.46 cr in Andhra Pradesh

A Government Official has said that Road Transport and Highways Minister Nitin Gadkari will inaugurate national highway projects worth Rs 1,928.46 crore and lay the foundation stone for projects worth Rs 2,539.08 crore in Andhra Pradesh.

As per reports, Gadkari, who is scheduled to visit Vijaywada on October 3, will also lay the foundation stone for the development of Muktyala to Vija

Fight against corruption to continue, I have no relatives: Prime Minister

Prime Minister Narendra Modi on Monday declared that the government's fight against corruption is "uncompromising" and nobody indulging in graft can escape.

He also said that the battle against terrorism will continue and disclosed that 90 hardcore wanted terrorists have been be deported to India from other countries.

"My battle against corruption will be

India unveils $2.5 billion plan to electrify all households by end 2018

NEW DELHI - India's Prime Minister Narendra Modi on Monday launched a $2.5 billion project to electrify all of the country's households by the end of 2018.

More than 40 million households - about a quarter of all in the country - are yet to be electrified and about 300 million of India's 1.3 billion people are still not hooked up to the grid.


Jaitley says planning steps to address growth concerns

NEW DELHI - The Indian government is planning measures to revive economic growth, Finance Minister Arun Jaitley said on Monday.

Growth in Asia's third-largest economy slowed to a three-year low of 5.7 percent in the quarter that ended in June, and Jaitley last week said that New Delhi was looking for ways to speed it up.

The government is considering a p

Telecoms seek two more quarters to implement Quality of Services norms

 Telecom service providers on Monday requested the sector regulator for another two quarters of time to implement Quality of Services regulations.

"We have requested that. We have said the last thing we want to be is in a situation where there are new norms to play... and all of a sudden all the industry is found to be non-compliant... and the next thing, we are looking

Digital payments up, debit card use declines: Report

 Investment banking firm Jefferies on Monday said there is growth in digital payment mode by bank customers post-demonetisation whereas there has been a decline in usage of debit cards.

In a report, Jefferies also said the RuPay adoption for e-commerce has increased while the growth of credit cards has been secular.

The National Electronic Funds Transfer (NEFT

Government to set up 5 scrap-based steel plants worth Rs 500 cr

The Indian Government has said that it is planning to set up five scrap-based steel plants at an investment of Rs 500 crore within a year. As per report, this move will ensure that a chunk of the country's targeted 300 million tonne steel output is met through scrap. India's target is to more than double the steel output by 2030, from 10 MT at present.

Commenting on the issue,

Growth in phone, fashion segments in festive sale: Amazon

E-commerce major Amazon said its ongoing festive sales have been the "biggest till date", driven by strong growth in segments like smartphones, large appliances and fashion, reported PTI. Amazon's four-day festive sale, which commenced on September 21, clashed with those by rivals Flipkart and Paytm.

"We have seen 2.5X growth in smartphone sales, 4X increase in larg

Process of finalising plan to consolidate PSBs on: Finance Minister

Union Finance Minister Arun Jaitley said the government is more keen to merge stronger banks rather than weaker ones and is in the process of finalising a strategy on consolidation of state-run lenders, reported PTI. "The object of consolidation is to create bigger and stronger banks," Jaitley said, speaking at Bloomberg's India Economic Forum. "I would rather have stronger b

`IRDAI scrutinising if PEs will make good promoters in cos`

Insurance regulator Insurance Regulatory and Development Authority of India (IRDAI) is scrutinising if private equities (PEs) will make good promoters in insurance companies, a top official said as per the PTI report. "In insurance companies, we look at it in two different ways. Investors and promoters. Anybody can invest in the company, for promoter, we are studying as to know what is the

Telecom sector under stress: SBI chief

State Bank of India (SBI) reiterated that the telecom sector was under stress and the bank was doing extra provisioning for this, reported PTI. SBI chairman Arundhati in Bhattacharya said, "The telecom sector is undergoing a lot of stress and the bank is extra provisioning due to this." She said this when asked whether TRAI's decision to reduce the IUC charges would affect incumbe

95 mobile companies have set up plants in India: IT Minister

Information Technology (IT) Minister Ravi Shankar Prasad on Sunday said 95 mobile manufacturing companies have set up their plants in the country.

"Today 95 mobile manufacturing factories have come up in India and India is becoming a big hub of electronics and mobile manufacturing. Of these, 32 units have come up in Noida and Greater Noida," Prasad said at the Capital Founda

District-level panels to be formed to check road accidents

Union Road Transport and Highways Minister Nitin Gadkari on Saturday said district-level committees will be constituted to check road accidents.

He said the committee in each districte will be headed by the MP. It will visit the scene of accident, find out the reason and suggest corrective measures.

In his speech at the Indian School of Business Leadership Summit, he said a

Jaitley annoyed as man asks for Hindi translation of `bullet train`

Union Finance Minister Arun Jaitley was visibly annoyed on Sunday when a man interrupted him during an event here and sought to know the Hindi equivalent of ‘bullet train.

As Jaitley was expounding on the bullet train initiative of the Narendra Modi government and rued that most debates on the issue he came across in India were "ill-informed", a man in the audience sto

Exports of petrol, diesel cars can continue, hints Gadkari

 Union Road Transport and Highways Minister Nitin Gadkari on Saturday hinted that automobile industry could continue exports of petrol and diesel cars even as government will go ahead with its plan to transition India to all-electric mobility by 2030.

He told reporters on the sidelines of Indian School of Business Leadership Summit here that the government is not against automobi

Extend GST return deadline by 2 months to resolve issues: CII

Industry chamber CII on Sunday said that in view of certain pending issues, the deadline for filing Goods and Services Tax (GST) returns should be further extended by up to a couple of months.

"In view of the difficulties of online filing, CII suggested that the due dates for filing GSTR-1, GSTR-2 and GSTR-3 should be deferred for another month or two. This will stabilise the sys

Modi asks Indians to see more of India, promote tourism

Prime Minister Narendra Modi on Sunday asked people to promote tourism spots in their states and also to visit the numerous tourist sites within the country instead of getting attracted by "superficial glitter" abroad.

"It is a matter of concern when we do not see our own country, we do not know about its diversities nor do we understand them. Impressed by mere superfic

Don`t see Khadi as cloth but movement: Narendra Modi

Prime Minister Narendra Modi on Sunday referred to Khadi not as a cloth but a "movement" which should be taken forward as a campaign.

"I had earlier mentioned that Khadi was not a cloth but a movement which should be taken forward," Modi said in the 36th edition of his monthly radio programme, "Mann Ki Baat".

Stating that he has observed a surge