Railways reveals charter for grievance redressal: Reports

The Indian railways has said that it has notified a first of its kind charter for its employees guaranteeing time-bound redressal of their grievances. As per reports, the charter or guidelines will be followed by a similar document for passengers using the rail services. The Minister also announced a slew of measures that his ministry has taken in the last three weeks to streamline the working

Fund infusion to help NPA-hit PSBs: Care Ratings

The government's plan to infuse Rs 2.11 lakh crore in PSU banks is a "concrete and timely move" that brings much needed help to public sector lenders that are ailing under asset quality pressures and sluggish credit growth, Care Ratings said as per the PTI report. "The government's announcement of the Rs 2.11 lakh crore recapitalisation plan for public sector banks (PSBs)

`New highways plan offers huge scope for construction cos`

Rating agency ICRA said the new highways programme, unveiled by the Cabinet, offers huge opportunities for construction companies, reported PTI. The government yesterday approved a mega plan to build 83,677 km of highways by March 2022 at a cost of about Rs 7 lakh crore, which includes the ambitious Bharatmala project.

"This could result in significant jump in annual awards - mor

Need to harness culture of hospitality to attract tourists: Finance Minister

Finance Minister Arun Jaitley said along with strengthening of infrastructure, the culture of hospitality and warmth needs to be developed in order to attract more tourists into the country, reported PTI. Speaking at the Paryatan Parv organised by the Ministry of Tourism, he said tourism, world over, has become one of the most powerful economic resources.

"While we are in the pro

India should have 5-7 big banks, both public and private: CEA

 India should ideally have 5 to 7 large banks, Chief Economic Adviser (CEA) Arvind Subramanian said on Wednesday pitching for consolidation in the banking sector.

"The big question also going forward is should there be more majority private sector ownership in the banking system? What is a good banking structure for India 5-10 years from now," Subramanian said during a

India`s September domestic air passenger traffic up 16%

Domestic air passenger traffic rose to 95.83 lakh in September -- up 16.43 per cent -- from 82.30 lakh reported for the corresponding month of 2016, official data showed on Wednesday.

On a sequential basis, total domestic air passenger traffic had risen by 15.63 per cent to 96.90 lakh in August.

Data furnished by the civil aviation regulator Directorate General of Civil Avia

Petroleum Ministry launches Rs 320 cr startup fund

 In a novel initiative by the Petroleum Ministry, 10 oil and gas companies under it on Wednesday launched a startup programme for entrepreneurs with a fund corpus of Rs 320 crore to be disbursed over a 3-year period to support innovations in the energy sector.

The scheme was launched here with memoranda of understanding (MoU) being signed by 36 startups for partnering with variou

India slaps anti-dumping duty on some stainless steel imports

NEW DELHI  - India imposed anti-dumping duty on some cold-rolled flat products of stainless steel from China, the United States, South Korea and the European Union, to curb the influx of cheaper imports and help local producers.

The duty, which will be in effect until Dec. 10, 2020, exempts certain grades of stainless steel, an official notification said.

3 new methods introduced to link mobile number with Aadhaar: Manoj Sinha

New Delhi,   The government has introduced three new methods, including through one-time password (OTP), to ease the process of linking the 12-digit Aadhaar identity number with individual mobile numbers, Communications Minister Manoj Sinha said here on Wednesday.

The Department of Telecommunications has introduced the three new rules - through one-time pass

A quarter-century later, Kerala`s IT exports at Rs 12,000 crore

Thiruvananthapuram Despite having a promising start by launching the first Technopark in the country in 1990, Kerala lags behind neighbouring states in IT exports. Over a quarter of a century later, the figure stands at Rs 12,000 crore for FY 2016-17.

There are close to one lakh IT professionals working in nine million square feet space at Technopark, Infopa

Odisha announces drought package for farmers

The Odisha government on Wednesday announced a drought package for the Kharif season for farmers.

Announcing it here, Chief Minister Naveen Patnaik said agriculture input subsidy will be provided to small and marginal farmers who have sustained crop loss of 33 per cent and above.

He added that Rs 6,800 per hectare of land in rainfed/non-irrigated areas and Rs 13,500 per hect

Government spends Rs 50,000 cr on rail safety this fiscal: Report

The Indian Government has said that it has spent over Rs 50,000 crore out of a total outlay of Rs 1.31 lakh crore on rail safety in this fiscal. Commenting on the issue, Finance Secretary Ashok Lavasa told reporters after a Union Cabinet meeting, “The government has planned a capital expenditure outlay of Rs 131,000 crore for railway safety in 2017-18, of which it spent Rs 50,762 crore ti

Government retains GPF interest rate at 7.8% for October-Decemeber

The government has retained the rate of interest for General Provident Fund (GPF) and other related schemes at 7.8 per cent for the October-December quarter, reported PTI. The rate is in line with that for Public Provident Fund. In July-September quarter too, the interest rate was 7.8 per cent. "The Government of India has announced that during the Financial Year 2017-18, accumulations at

PSU bank recapitalisation plan is a `monumental step forward` : Urjit Patel

The Reserve Bank of India Governor, Urjit Patel, today said the Rs. 2.11 lakh crore bank recapitalisation plan is a ‘monumental step forward’ in safeguarding India’s economic future and a comprehensive policy would be put in place to address the challenges faced by the sector, reported PTI. Finance Minister Arun Jaitley had yesterday announced that Rs. 2.11 lakh crore would be

India to have 478 mn air passengers by 2036: IATA

Global airlines' grouping IATA has said that India is expected to have 478 million air passengers in 2036 on the back of strong demand. The country is projected to see a staggering growth from 141 million passengers in 2016. Commenting on the issue, the International Air Transport Association (IATA) told the media, “Globally a total of 7.8 billion passengers are expected to travel in

Regrob expanding operations in India's immediate neighborhood

Regrob, India’s second largest tech enabled Real Estate Brokerage Company with 26 branches running pan India, is planning to expand their business internationally in five countries (Nepal, Bhutan, Thailand, Bangladesh and Philippines). “This is an opportunity for us to grow", said Mr. Ashish Kaushik, chief executive officer & co-founder, Regrob Technologies said, adding, &q

All-India House Price growth moderated in Q1: RBI

The Reserve Bank of India (RBI) on Tuesday released the quarterly house price index (HPI) (base: 2010-11=100) for first quarter of financial year 2017-18, based on transactions data received from housing registration authorities in ten major cities (viz., Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi).

“The All-India HPI recorded a sequ

EPCH hails GST notification to ease norms for exporters

The Export Promotion Council for Handicrafts has welcomed the Government’s decision to ease the procedure for merchant exporters. Handicrafts merchant exporters can now purchase the goods from registered suppliers by paying 0.1 per cent GST and amount paid as GST will be refunded within 90 days of the export transaction.

The full notification is available here. Chairman, EPCH, O

Prabhu reviews government`s initiatives on IPR

The Minister for Commerce and Industry, Suresh Prabhu took a review of the Intellectual Property Rights (IPR) related initiatives taken by the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, for strengthening the IPR regime in the country.

The Minister said that the government of India has been working relentlessly to streamline IP processes an

Capital infusion for PSBs to propel economic activities: SBI

The unprecedented Rs 2.11 lakh crore capital infusion road map announced by the government today for the public sector banks will trigger economic activities, said SBI Chairman Rajnish Kumar as per the PTI report. "This milestone announcement on recapitalising banks in one-go is a bold and courageous move and was indeed the need of the hour. It will generate balance in overall demand and s

PSU bank capital infusion plan gets thumbs-up from IMF

Stressing that India will have to reform continuously to accelerate growth, the International Monetary Fund (IMF) welcomed the government announcement to up the recapitalisation of state-run banks as a "positive", reported PTI. "We have a long view that more resources are needed for recapitalisation and from that sense, the plans put out is a positive step," said Andreas Bau

India`s air passenger traffic to reach 478 million by 2036

 India's air passenger traffic is expected to reach 478 million passengers by 2036, a global airline association said on Tuesday.

According to the International Air Transport Association's (IATA) 20-year air passenger forecast, India will add 337 million new passengers by 2036.

"UK will fall to fifth place, surpassed by India in 2025, and Indonesia in 2030,

Recapitalisation will lead to more growth, jobs : Narendra Modi

Prime Minister Narendra Modi on Tuesday said the government's recapitalisation plan announced for state-run banks is a historic step that will lead to more investments, more growth and more jobs.

In a stimulus package aimed to boost flagging economic growth, create more jobs and increase the credit flow, the Union Cabinet on Tuesday approved a recapitalisation plan of Rs 2.11 lakh

GVK gets nod for Navi Mumbai International Airport project

Nearly nine months after it won the bid, the GVK-led Mumbai International Airport Ltd on Tuesday got the green signal to start work on the Rs 16,000-crore Navi Mumbai International Airport, officials said here.

Chief Minister Devendra Fadnavis, who presided over the cabinet meeting said that the City & Industrial Development Corporation will be the nodal agency for the project and

TRAI issues recommendations for Internet Telephony

The Indian telecom regulator on Tuesday released its recommendations on "Regulatory framework for Internet Telephony", which said this service can be provided by the access service provider to its subscriber who may be using Internet of other access service providers.

The Department of Telecommunications (DoT) should issue a clarification to the effect, the recommendations b