Centre clears Rs 5,700-cr hydro project to be set up in Nepal

The government today approved a 900 MW hydro power project to be set up in Sankhuwasabha district of Nepal at a cost of Rs 5,723.72 crore. The decision to approve the Arun-III project was taken at a meeting of the Cabinet Committee on Economic Affairs headed by Prime Minister Narendra Modi..

“The Cabinet today approved setting up of Arun-III project at an estimated cost of Rs 5,

Portfolio managers` assets swell to Rs 12 lakh cr in January

Wealthy investors continued to repose faith in portfolio managers or advisory services as the assets under management of such entities rose to about Rs 12 lakh crore in the Indian capital market at January-end, reported PTI. It also marks the 13th consecutive monthly rise in asset base of portfolio managers.

According to the Securities and Exchange Board of India (Sebi), total assets

Snapdeal to lay off 600 people over next few days

SoftBank-backed Snapdeal will lay off around 600 people across its e-commerce, logistics and payments operations over the next few days, reported PTI. According to sources, the company started the process last week and will lay off 500-600 people across Snapdeal, Vulcan (logistics) and Freecharge (digital payments business).

The sources added that the reduction will include employees

Government clears coastal surveillance project

The Defence Ministry has cleared a project to set up 38 radar stations to significantly ramp up surveillance of the country's over 7,500 km long coastline.

The Defence Acquisition Council, chaired by Defence Minister Manohar Parrikar, gave in-principle approval for the Rs 800-crore project. Four mobile surveillance stations will also be set up and they will be integrated with the

South Eastern Railways scores highest among 16 railway zones: Reports

The South Eastern Railway has said that it has scored the highest among 16 railway zones in performance rating by the Ministry of Railways across different sectors like freight loading and passenger traffic.

Commenting on the issue, SER spokesman Sanjoy Ghosh told the media, “The SER topped the chart with 75.48 per cent marks as per performance from April, 2016 to December, 2016

IATA launches e-billing solution for airport operators

The state-owned AAI, along with International Air Transport Association (IATA) have launched its e-billing solution for airport operators and air navigation services providers across the world, said media reports.

As per reports, developed in-house, the electronic billing solution for data, e-invoicing and collection of tariff from the airlines is being used by the AAI for several yea

Railways finalises DPR for semi-high speed rail routes

The Indian Railways has said that it has finalised the detailed project report (DPR) for an ambitious project aiming at running trains at 160 kmh on two busy corridors. As per reports, New Delhi-Howrah and New Delhi-Mumbai corridors would be upgraded to run trains at speed of 160 kmph as part of 'Mission Raftaar' launched by railways.

'Mission Raftaar' aims to reduce t

Industry relieved that Jio will start charging: COAI

Cellular operators' association COAI expressed relief that newcomer Reliance Jio has announced "price points" for data services post April 1, which although "aggressive" will not bleed the industry, reported PTI. The Cellular Operators Association of India (COAI) said the pricing along with customer experience determined by a telecom network's ability to take data tr

Future of real estate sector is in affordable housing: M. Venkaiah Naidu

Union Minister M. Venkaiah Naidu on Tuesday urged real estate developers to take up affordable housing projects in a big way while stressing that the future of the real estate sector lay there.

"The government's focus on ensuring Housing for All including the Middle Income Groups offers immense opportunities both at the bottom and the middle of the pyramid which needs to be s

Corporate bonds to fill void as government cuts borrowing: SEBI

 As the government has been reducing its borrowing programme, the vacuum is going to be filled by corporate bonds, a senior SEBI official said on Tuesday.

"As the Centre's borrowing programme is going to come down, the space is going to be taken over by corporate bonds," Securities and Exchange Board of India (SEBI) Member G. Mahalingam said here.

"As

Passengers to grade Rajdhani, Shatabdi trains on cleanliness

Passengers will now be involved in judging cleanliness level of popular trains including Rajdhani, Shatabdi and Duronto as well as major stations across the country. Focusing on cleanliness and hygienic conditions on premises, which has been a problematic area for it, the Railways will undertake a detailed survey cum audit of 407 busy stations and about 200 trains shortly.

A passenger

India Ratings and Research maintains negative outlook on infra sector for FY18

India Ratings and Research (Ind-Ra), a leading rating agency, has maintained a negative outlook on the infrastructure sector for FY18, albeit with revised outlooks for a couple of sub-sectors. The increase in receivables position of wind power plants limited the headroom available to handle low wind patterns; hence, Ind-Ra has revised wind energy’s outlook to negative for FY18 from stable

M&A and InvITs in infra sector to gain traction in 2017: India Ratings and Research

Infrastructure deals particularly in road sector in the form of Infrastructure Investment Trusts (InvITs) is likely to gain traction in 2017, says India Ratings and Research (Ind-Ra). The agency estimates Rs 0.4 trillion of funds to be raised by infrastructure sector from 25 major mergers and acquisitions (M&A) and InvITS in 2017.

While this could support several cash strapped inf

Medical tourism will drive India's pharma market: Study

Indian pharmaceuticals market is expected to touch USD 55 billion by 2020 in which medical tourism would be a major growth driver, according to a latest ASSOCHAM-IITTM joint study. The year 2015 witnessed the growth of 140 per cent of foreign tourist`s arrival on medical visa from the year 2013, where more than 50, 000 people visited India on medical visa.

This number rose to approx 1

Indian pharma industry to reach $55 bn in 3 years: Study

Indian pharmaceuticals market is expected to touch USD 55 billion by 2020 from the current level of USD 36.7 billion in 2016 growing at a compound annual growth rate (CAGR) of 15.92 per cent, according to a latest ASSOCHAM-IITTM joint study. Indian pharmaceuticals market increased at a CAGR of 17.46 per cent during 2005-16 with the market increasing from USD 6 billion in 2005 to USD 36.7 billio

Government spends Rs 153.5 cr as reward to boost digital payment

In a bid to make digital payments a mass movement in India, the government of India has rewarded money worth over Rs 153.5 crore to nearly 10 lakh citizens, according to latest data published by the NITI Aayog. It has been 58 days since the launch of NITI Aayog’s two incentive schemes – Lucky Grahak Yojana and Digi Dhan Vyapar Yojana to promote digital payments and the public respon

RBI Mumbai office closed today

The RBI said that its Mumbai offices will remain closed on February 21 on account of Municipal Corporation elections in Greater Mumbai, Thane and Ulhasnagar. In exercise of powers under Section 25 of the Negotiable Instruments Act, the Maharashtra Government has also declared February 21 as public holiday within the jurisdiction of 11 Zilla Parishads and 118 Panchayat Samitis under these Zilla

Government approves construction of 90,000 houses under PMAY: Reports

The Indian Government has said that it has approved construction of over 90,000 more affordable houses for the urban poor under Pradhan Mantri Awas Yojana (Urban) with an investment of Rs 5,590 crore. As per reports, the central assistance for construction of these houses would be to the tune of Rs 1,188 crore.

Commenting on the issue, a Government Official told the media, "The M

Niti Aayog wants Railways to link all districts: Reports

Government think-tank Niti Aayog has said that it wants the Railways to prepare a plan similar to Pradhan Mantri Gramin Sadak Yojana (PMGSY) and National Highways Development Programme (NHDP) to link districts which are not on rail map. Commenting on the issue, a senior Government Official told the media, "We need schemes like NHDP, PMGSY in Railways also.

Even today, some parts

DMRC unveils park made of waste material

The Delhi Metro Rail Corporation (DMRC) has said that it has unveiled a one of a kind park which is adorned with artistic installations built with waste material from Metro construction sites and is mostly powered by the solar energy. Commenting on the issue, a DMRC Official told the media, "The main highlights of the park are the artistic installations created from waste materials generat

Sebi eases norms for MF investments in derivatives

Existing mutual fund schemes will not require approval of a majority of unit holders to invest in derivatives segment provided the investors are given the exit option, Sebi said according to the PTI report. Among other conditions, the relaxation, effective immediately, would be in place only if the mutual fund scheme concerned provides the investors 30 days time to exit the scheme without any c

India Ratings maintains stable outlook for auto for FY18

India Ratings & Research (Ind-Ra) has maintained a stable outlook on the auto sector for FY18. This is based on the expectation of a moderate yoy volume growth of 6 per cent-9 per cent for the passenger vehicle (PV) segment, and despite an expected negative 2 per cent to 2 per cent slowdown in the commercial vehicle (CV) segment.

The agency believes that growth in the PV segment w

Telecom industry to consolidate amid hypercompetition in FY18

India Ratings and Research (Ind-Ra) has revised its outlook on the telecommunications services sector for FY18 to negative from stable-to-negative. The negative outlook reflects Ind-Ra’s expectation of longer and deeper than expected deterioration in the credit profile of telcos following the extended free services by Reliance Jio Infocomm.

According to the rating agency, a redi

Ind-Ra assigns `IND AA(SO)` rating to UPPCL`s Rs 100 bn bonds

India Ratings and Research (India Ratings) has assigned UP Power Corporation Limited’s (UPPCL) proposed INR 100 billion bonds a Provisional ‘IND AA(SO)’ rating with a stable outlook. This is India’s first state government revenue supported bond.

India Ratings notes that while state/central government supported bonds, in the form of an unconditional and irrevoca

Auto ancillaries to see 7-9% growth in FY17: Ind-Ra

India Ratings and Research (Ind-Ra) has maintained a stable outlook on the auto ancillaries sector for FY18, citing the expectations of a healthy demand from original equipment manufacturers (OEMs) for two-wheeler and passenger vehicle (PV) components along with a marginal improvement in profitability and a stable credit profile.

The agency expects the sector companies to see volume g