Over 860 fresh FPIs registered with Sebi in April-August period of FY18

More than 860 fresh overseas investors were registered with Sebi in the first five months of 2017-18, driven by their continued interest in the Indian capital markets, latest data from the regulator showed. This comes on top of close to 3,500 new foreign portfolio investors (FPIs) registering with Sebi in the past financial year. According to Sebi data, the number of FPIs with the regulator'

RBI to conduct OMO sale of government sec worth Rs 100 bn

The Reserve Bank of India on Friday said it would conduct sale of government securities under open market operations for Rs 100 billion on November 09, 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 Novembe

Government plans to expand phased manufacturing programme

The Ministry of Electronics and IT is mulling to expand phased manufacturing programme, aimed at increasing use of locally-produced electronic components in mobile phones, to other product segments as well, reported PTI. "Phased manufacturing programme (PMP) at present is meant to promote use of locally made components in mobile phones. MeitY (Ministry of Electronics and IT) is exploring t

Railways to create 1 mn jobs in next 5 years: Reports

The Indian Railways is looking to invest over USD 150 billion over the next five years which would help create one million additional jobs, said rail minister Piyush Goyal. Commenting on the issue, Rail Minister Piyush Goel told the media, "During the next five years, the Railways alone will be looking at an investment of upwards of USD 150 billion. And when I translate that into jobs, I s

`Closed bids not reverse auction, repowering way to go for wind power`

The reverse auction for determining wind power tariff should be scrapped in favour of closed/sealed bids if the Indian wind turbine manufacturers are to survive in the long run, said a top industry official.

He also said there should be clear policy for repowering - replacing of low powered turbines with high powered ones at the existing sites so that the increase capital cost gets re

Italian PM accorded ceremonial welcome

 Italian Prime Minister Paolo Gentiloni, who is on a two-day visit to India, was accorded a ceremonial welcome at the Rashtrapati Bhawan on Monday.

Gentiloni was welcomed by President Ram Nath Kovind and Prime Minister Narendra Modi.

Later in the day, Modi will hold delegation-level talks with Gentiloni, following which a number of agreements are expected to be signed.<

Railway coach factory to be set up near Hyderabad: Reports

A Telangana minister has said that Medha Servo Drivers, a manufacturer of propulsion systems, will set up a railway coach factory near Hyderabad with an investment of Rs 800 crore. As per reports, the company signed a MoU with the state government. The factory to come up near Kondakal in Sangareddy district is expected to provide direct employment to 2,000 people.

The unit will be set

Railways to create suburban rail network in Bengaluru: Minister

Railway Minister Piyush Goyal has said that the Railways is working on a proposal to create a suburban railway network for Bengaluru, much like the one in Mumbai, to decongest the city and link it to the airport. As per reports, the idea was suggested to the Minister before he took over as the railway minister by senior BJP leader Ananth Kumar who told him that he had been pushing for a suburba

M-Aadhaar acceptable as id-proof to enter airports: BCAS

According to a circular issued by aviation security agency BCAS, mobile Aadhaar can be used as an identity proof to enter airports, while identification documents will not be required for minors accompanied by parents. As per reports, passengers entering airport premises need to produce any one of the ten identity proofs listed by the Bureau of Civil Aviation Security (BCAS) in its latest commu

More green energy should power India: Narendra Modi

 Green energy like solar power would power India as 175 gigawatt (GW) of electricity is expected to be generated from renewable sources, Prime Minister Narendra Modi said here on Sunday.

"By 2022, when India will be celebrating 75 years of independence, 175 GW of renewable energy will be generated. The government is working towards meeting 40 per cent of the country's en

PPF closes, NSC gets encashed if holder status changes to NRI

With changes in investment rules for select small savings schemes including National Savings Certificate (NSC), the government has said such accounts will be closed before their maturity in case status of the holder changes from resident to non-resident Indians (NRIs). Such holders will earn only post office savings account rate of 4 per cent and not the higher rate on those instruments when th

Kerala`s main industries escape stress, but farmers bore the brunt

The two main industries of Kerala, seafood and tourism, escaped the brunt of demonetisation, as did the information technology sector. But agriculture -- rubber plantation in particular -- suffered adverse impact, from which it is yet to fully recover.

Seafood exports from the state bring in a large proportion of Kerala's revenue. It showed no adverse impact. If anything, exports

New Delhi, Dhaka to restore pre-1965 rail links: Bangladesh Minister

India and Bangladesh will restore the pre-1965 status of rail connections between the two neighbours, Bangladesh Railway Minister Mazibul Hoque said here.

"India and Bangladesh will jointly restore the pre-1965 status of our rail connections.

"Currently India and Bangladesh have four operational rail links between West Bengal and western Bangladesh. More rail conne

Nirmala Sitharaman pushes for `Make in India` in defence sector

Defence Minister Nirmala Sitharaman on Saturday interacted with industry representatives from Indian as well as foreign companies in defence sector at a round table on "Energising Make in India".

Sitharaman ordered officers to take time-bound action on key issues raised at the round table, including commercialization of technologies developed by the DRDO and timely conclusio

Demonetisation was blessing for realty sector, RERA and GST will clean it up

Though the government's radical measure of demonetisation has disrupted the economy and has hit the real estate sector -- already reeling under prolonged slowdown -- it will turn out to be a blessing in disguise in the medium-to-long term.

As an asset class, real estate has been a big source of generating and consuming black money. The cash component in real estate has been there

Nitin Gadkari flags off 185 trucks to Bangladesh via sea route

Shipping Minister Nitin Gadkari on Saturday flagged off a Roll-on-Roll-off (RoRo)-cum-general cargo vessel carrying 185 trucks from Chennai Port to Mongla port in Bangladesh which is expected to save around 15-20 days of travel time.

Digitally flagging off the vessel from Nagpur, Gadkari said that transport through the sea route will save about 15-20 days of travel time.


Oil firms hold online draw for LPG distributorships in Punjab

Punjab became the first beneficiary of the digital selection process for LPG distributorship as 26 new distributorships in the state were selected on Friday through the online draw system, the Union Petroleum Ministry said.

State-run oil marketing companies (OMCs) have recently changed their selection process for cooking gas distributorships from physical to digital mode, introducing

LPG subsidy payment issue relates to Airtel customers: Ministry

Taking cognizance of complaints by cooking gas customers of non-credit of their LPG subsidy, the government on Friday said that these were mainly from customers of Airtel payments bank and that the subsidy amount had been credited to their respective accounts.

"It is found that these complaints mainly pertain to those LPG consumers who are Airtel customers and have opened account

Himachal traders resent barring cigarette shops from selling eatables

Small retailers in Himachal Pradesh on Friday resented the Centre's decision that restricted those dealing with tobacco products not to sell non-tobacco products.

"This is grossly an unfair decision. Any forced reduction in products sold by us will have a severe financial implication on all of us who have regular fixed clientele," Pan, Biri and Cigarettes Associatio

More time given to airlines to shift flights to T2: DIAL

IGI airport operator DIAL on Friday said it has given more time to various airlines to shift some of their flight operations to Terminal 2 (T2) from Terminal 1 (T1).

The shifting of flight operations to T2 is a prerequisite for the commencement of T1's expansion plan.

According to the Delhi International Airport Limited (DIAL), it continues to consult IndiGo and SpiceJet

Nordic bank to cut 6K jobs by 2021, robots to take over

The Nordic banking giant Nordea has announced it would shed 6,000 jobs during the next four years. One of its reasons is replacement of human positions with "robots".

Nordea has around 32,000 employees. CEO Casper von Koskull explaining the layoff in a statement on Thursday said "need to cut costs" and "improvement in efficiency" were key factors, Xinhua

Indian Railways working towards 100% electrification: Goyal

Indian Railways is working with a "will do, can do" spirit in order to achieve aggressive targets and will achieve 100 per cent electrification of lines, Railway Minister Piyush Goyal said on Friday.

"Indian Railways is working with a renewed attitude and confidence. The mindset of Indian Railways has changed," Goyal said here after inaugurating the International C

ONGC proposes to partner in building n-reactors: Minister

In a bid to push nuclear power development in India, the state-run Oil and Natural Gas Corporation (ONGC) has submitted a plan to collaborate with the Nuclear Power Corp for setting up reactors, a minister said on Friday.

"ONGC has come forward with a plan. They have a lot of money they would like to invest and we have the technical expertise," Minister of State in the Prime

Dhirubhai Ambani Aerospace Park bags Indias biggest FDI in defence

The Dhirubhai Ambani Aerospace Park (DAAP) coming up with an capital investment of Rs 6,500 crore in partnership with Dassault Aviation will be the biggest FDI in the Indian defence sector till now, top officials said here on Friday.

The foundation stone laying ceremony, scheduled to take place here later in the day, will be attended by Maharashtra Chief Minister Devendra Fadnavis, Un

Agartala Rajdhani Express inaugural run tomorrow

The much awaited Rajdhani Express would be formally flagged off from Agartala railway station by Minister of State for Railways Rajen Gohain tomorrow, official sources said. Agartala-Anand Vihar Rajdhani Express train would be flagged off from Agartala railway station on October 28 by Union Minister of State for Railways, Rajen Gohain.

Tripura Governor Tathagata Roy would be the Chief