Aadhaar not needed for pension withdrawals for now: EPFO

Retirement fund manager EPFO said Aadhaar will not be required for withdrawal benefits under the Employees' Pension Scheme for now, but furnishing the 12 digit unique number is mandatory in case of final settlement of pension, reported PTI. "It is reiterated that the requirement of submitting Aadhaar is not insisted for the time being only in withdrawal benefit (10 C) cases under Emplo

Focussed to become defence strategic player: Abhyuday Jindal

The Jindal Stainless (Hisar) Ltd on Wednesday said that they want to become tier one players in the defence sector and want to enter the sector as a strategic player.

"We want to become strategic partner and focus more on our strength, which is stainless steel and special steel. So, we want to supply the raw material to PSUs and private companies in the defence segment... We

NGT notice to automobile manufacturers on BS-III emission vehicles

The National Green Tribunal (NGT) on Wednesday issued notice to an automobile manufacturers association after their stated inability to discard vehicles running on BS-III complaint fuel from April 1.

The NGT bench, headed by Justice Swatanter Kumar, also issued notice to the Road Transport and Environment Ministries and the Central Pollution Control Board.

In Febru

Ericsson deploys 'OSS fulfilment suite' for Reliance Jio

Swedish communication technology firm Ericsson on Wednesday said that it has successfully deployed an end-to-end Operations Support System (OSS) fulfilment suite for Reliance Jio Infocomm Limited.

The OSS deployment includes order management, inventory management and activation solutions. 

"The deployment of the OSS stack by Ericsson is helping us in critical areas

Projects worth Rs 1050 cr awarded for sewage treatment in Patna

Government has awarded projects worth Rs 1,050 crore under Namami Gange programme to develop adequate sewage treatment infrastructure in Patna, as per the government release. The Ministry of Water Resources said in a statement that, the amount will be spent for setting up 2 Sewage Treatment Plants (STPs), renovation of 1 existing STP, construction of 2 pumping stations and laying of new undergr

Indian PEs see a stronger deal pipeline in 2017

A significant majority of private equity firms in India are optimistic about stronger deal activity this year, with funds looking at financial services and healthcare as the top sectors for investment, says a survey.

According to News Corp VCCircle's PE-VC Outlook Survey 2017, which covered heads and partners of large global and Asian funds that invest in India, 63 per cent are op

OECD signs MoU with CII for greater collaborative work

India with 7 per cent growth rate is flowing against the tide despite the difficult economic environment prevailing across the world,” said Angel Gurria, Secretary-General of Organisation for Economic Cooperation and Development (OECD).

The CII hosted Gurria for an interactive session and the official signing of a MoU between the two organizations. The MoU reinforces their commo

India Ratings and Research maintains stable outlook on education sector for FY18

India Ratings and Research (Ind-Ra), a country’s leading rating agency, has maintained a stable outlook on the education sector for FY18. Although enrolments increased marginally in the school segment and moderately in higher education, Ind-Ra believes the sector has the potential to grow due to a huge demand-supply gap.

Besides new educational institutions, the existing institu

Spends on digital media to reach 24% by 2020: Report

With digital advertising gaining momentum, the share of digital media spends is likely to be 24 per cent of the total advertising pie by 2020 from 12 per cent at present, says a report as per the PTI. The digital advertising industry currently stands at Rs 6,825 crore and is expected to grow at a CAGR of 37 per cent to reach Rs 23,795 crore by 2020, according to the digital advertising report b

Government hikes non-subsidized LPG cylinder price by Rs 86

The government has increased non-subsidized price of LPG cylinder by Rs 86 with effect from March 01, 2017. “With effect from 1st March, 2017, non-subsidized price of LPG cylinder has increased by Rs 86,” said ministry of petroleum & natural gas on Wednesday. The ministry said that this is in line with the rise in global LPG product prices, adding that there will be no impact on

EPFO permits withdrawals from pension a/c without Aadhaar card

Retirement fund body EPFO has allowed full and final withdrawal of funds by the subscribers from their pension account without providing Aadhaar number, said the media report. "All those members filing claims for withdrawal of funds from their pension account would not be required to submit Aadhaar as mandated in an earlier order of the EPFO," a senior official said.

The mem

Cibil pegs MSME bad loans at Rs 55K-cr, launches score for them

Warning that the banking industry is staring at a potential stress of nearly Rs 55,000 crore in its MSME exposure, Transunion-Cibil has launched a ranking for small businesses to take care of "information asymmetry". It estimates the gross non-performing assets ratio for MSMEs -- which it defines as those having total exposure between Rs 10 lakh and Rs 10 crore -- to rise to 9.8 per c

India factory activity expands at a slightly faster pace in February

BENGALURU  - Indian factory activity expanded for a second straight month in February, while an increase in raw material costs pushed firms to raise prices at the fastest rate in nearly three and a half years, a business survey showed on Wednesday.

The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, rose to 50.7 in February from 50.4

Government working on policy to use high frequency spectrum bands: Reports

The Indian Government has said that it is working on a policy on usage of high-frequency spectrum bands to ensure India moves quickly towards 5G, the next-generation of telecom services. Commenting on the issue, Telecom Secretary J S Deepak told the media, "We were late in 3G and 4G, so we are keen that we should not be deprived of 5G. It has a wider application for the industry including

Government planning to make spectrum auction an annual event: Reports

The Indian Government has said that it is looking at making spectrum auction an annual event and will reach out to sectoral regulator Trai for its recommendations. Commenting on the issue, Telecom Secretary JS Deepak today the media, "We are looking for spectrum auction every year. We are very soon going to request to Trai for its recommendations." “Once the recommendations come

India issues new guidelines for antibiotics: Reports

India, one of the world's biggest consumers of antibiotics, has issued new national guidelines on their use as part of a drive to fight the rise of drug-resistant superbugs. As per reports, superbugs are seen as a growing threat to modern medicine, with the emergence in the past year of infections resistant to even last-resort antibiotics.

According to the Review on Antimicrobial

Delhi metro smart cards to be non-refundable from 1st April: Reports

The DMRC has said that the Delhi Metro's smart cards will be non-refundable from April 1. The Delhi Metro Rail Corp (DMRC) said in a statement that it has been done to comply with the Reserve Bank of India (RBI) guidelines. The smart cards sold after April 1 and the cards already in circulation will become non-refundable, it said. As per reports, the passenger-holders will be given a "

World Bank CEO commutes second class in Mumbai local train

World Bank CEO Kristalina Georgieva on Tuesday morning bought a ticket and travelled by a Western Railway suburban local train to inspect Mumbai's lifeline first hand, officials said.

Accompanied by Mumbai Rail Vikas Corporation (MRVC) CMD Prabhat Sahai and other top railway officials, Georgieva travelled in a second class women's compartment from Churchgate to Dadar, the busi

Moving at airline speed - Hyperloop One unveils 'Vision for India'

A futuristic technology in the transport system could see one whiz from Delhi to Mumbai in a pod-like car in just under one hour.

The system, unveiled by Hyperloop One here on Tuesday as part of its "vision for India", promises to revolutionize the advanced surface system by moving people and things at airline speeds.

Hyperloop One is developing the world's fir

India's infrastructure output growth slows in January

NEW DELHI - India's annual infrastructure output growth slowed to 3.4 percent in January from 5.6 percent in the previous month on a fall in refinery production and a deeper contraction in cement output, government data showed on Tuesday.

The output growth came in at 4.8 percent for the first 10 months of the current fiscal year, which ends in March 2017.

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Robust profitability to support credit metrics of pharma cos in FY18: India Ratings and Research

India Ratings and Research (Ind-Ra) has maintained a stable outlook on the pharmaceuticals sector for FY18, as the agency believes the sector’s profitability will remain stable and support credit metrics. Regulatory actions resulted in a dip in the sector’s profitability during FY15, which recovered in FY16 and 1HFY17. Ind-Ra continues to maintain the overall sector growth at 8 per

India Ratings and Research maintains stable outlook on cement sector for FY18

India Ratings and Research (Ind-Ra) has maintained a stable outlook on Indian cement manufacturers for FY18, citing that the operating profitability of cement manufacturers in FY18 to be around the FY16 and estimated FY17 levels, due to stable demand growth, despite an increase in input cost. “Demand will be backed by an increase in government expenditure,” said the rating agency.

Railways delinks food distribution & cooking in new catering policy

The Railways unveiled a new catering policy separating its cooking and onboard food distribution sections, reported PTI. Flooded with complaints on the food quality, the railways replaced the existing policy after seven years giving back onboard catering responsibility to the IRCTC for majority of trains, including all the new ones. Announcing the new policy, Railway Minister Suresh Prabhu said

Unions go ahead with bank strike, services suffer

Branches of public banks remained either closed or non-operational today as staffers and officers went ahead with their day-long strike pressing for various demands, including accountability of top executives in the wake of mounting bad loans. Services like cash deposits and withdrawal from branches and cheque clearances have been hit hard by the strike, which has been called under the aegis of

Cargo traffic at 12 major ports up 7.14% at 535 MT in April-January

Buoyed by pick up in demand, India's 12 major ports saw cargo traffic increase by 7.14 per cent to 535.35 million tonnes (MT) during the first 10 months of the current fiscal. These top ports under the Centre had handled 499.68 MT cargo during the April-January period of the last fiscal.

"Increased demand from various sectors including iron ore, POL and containers saw cargo t