Sebi allows convergence of stock, commodity exchanges

The Securities and Exchange Board of India (Sebi) on Thursday gave its nod to the convergence of both equities and commodity-backed stocks on exchanges from October 2018.

The decision taken at the Sebi's Board Meeting was announced by the regulator's Chairman Ajay Tyagi.

Tyagi said the convergence will be effective from October 2018 and will help in cross-listing and

We are not collecting Indian users` Aadhaar data: Facebook

A day after some reports suggested that Facebook was asking new users in India to enter their names as mentioned in their Aadhaar Card when they sign up for an account, the social media giant on Thursday clarified that it is not collecting Aadhaar data.

Facebook said it ran a small test to help new users understand how to sign up to the social network with their real name and connect

India`s first bitcoin trading app launched

At a time when bitcoins are in focus also for the wrong reasons, cryptocurrency dealer Pluto Exchange on Thursday announced the launch of India's first mobile application for transacting in virtual currencies.

At a press conference here, Pluto Exchange founder and Chief Executive Bharat Verma said his company is all set to launch the country's first app-based wallet that enabl

Railways revise station categories to improve services

 In a bid to provide better passenger services and amenities at railway stations across the country, the Railways on Thursday said that it has revised categories of various stations.

The major policy decision was taken with a view to make it more practical and rational, the Ministry of Railways said in a statement.

The step comes after Railways and Coal Minister Piyush

Railways to develop 2 speed raising projects: Minister

The Indian Government has said that the Indian Railways plans to develop two speed raising projects of 3,000 km on Delhi-Mumbai and Delhi-Howrah routes at an estimated cost of Rs 18,000 crore. As per reports, the proposed speed under these projects will be 200 kmph. Commenting on the issue, Minister of State for Railways Rajen Gohain told the media, "Two speed raising projects have been in

24 hours power to all by March 2019: Power Minister

By March 2019, all homes in the country will be provided uninterrupted 24-hour power supply throughout the year, Power Minister R K Singh said today. Singh said by December 2018, 1,694 villages, which are yet to be electrified, will have electricity connection and works in this regard has been going on.

All homes will get 24-hour power by March 2019, he said during Question Hour in th

Ticketing scam: Goyal orders strengthening of cyber security

Railway Minister Piyush Goyal has directed the IRCTC and the Centre for Railway Information Systems (CRIS) to strengthen cyber security in the wake of an alleged ticketing scam unearthed by the CBI. The CBI earlier this week nabbed a software programmer of its anti-corruption division and a former employee of the Indian Railway Catering and Tourism Corporation (IRCTC) for allegedly operating an

More than 3000 trains delayed due to fog in November -December : Minister

The Indian Railways has said that more than 3,000 trains were delayed due to fog between November 1 and December 21 this year. Commenting on the issue, Railway Minister Piyush Goyal told the media, “3,119 trains were delayed during the period on account of fog.” "The services of 25 pairs of mail and express trains were cancelled, while the frequency of 29 pairs of such trains w

Government positive about coal sector in 2018 on demand upswing

The government is looking at 2018 with renewed optimism for the coal sector in the wake of demand upturn and expecting 6-7 per cent growth in supply of the dry fuel next year, reported PTI. Also, the government is hopeful of a better show by state-owned Coal India (CIL), which is expected to achieve an output of 600 million tonnes (MT) in 2017-18. In 2017, there has been a resumption in demand

Sebi slaps Rs 5.6L fine on 2 entities for disclosure lapses

Markets regulator Sebi today imposed a total penalty of Rs 5.60 lakh on Eduexel Infotainmentand one Vinod Dugar for disclosure lapses. According to two separate orders, Sebi has levied a fine of Rs 3 lakh on the firm for violating PIT (Prohibition of Insider Trading) Regulations and Rs 2.60 lakh on Dugar for breaching SAST (Substantial Acquisition of Shares and Takeovers) Regulations. The Sebi

Government to push ahead with banking reforms in new year

The government is likely to push ahead with banking sector reforms alongside infusion of fresh capital in state-owned lenders in the new year as it looks to lift banks out of NPA crisis and revive lending growth from a 25-year low, reported PTI. The government in October announced infusion of an unprecedented Rs 2.11 lakh crore capital over two years in public sector banks that are reeling unde

Auctioned coal blocks bring states Rs 4,109 cr till November : Minister

The Indian Government has said that a total revenue of Rs 4,109.3 crore has accrued to states, including Chhattisgarh and Madhya Pradesh, from auctioned and allotted coal blocks till November.

As per reports, of the total revenue of Rs 4,109 crore, Rs 2,543 crore are generated from the auctioned coal blocks Commenting on the issue, Coal Minister Piyush Goel told the media, "Total

Sebi orders attachment of bank, demat accounts of 22 entities

Markets regulator Sebi has ordered attachment of bank accounts as well as share and mutual fund holdings of 22 entities, including individuals, to recover dues totalling Rs 2.8 crore. The decision was taken after the entities failed to pay the fine imposed on them by Sebi for violating securities regulation in 20 different cases.

These entities include Triumph International FinanceInd

Telangana minister invited to WEF meet

Telangana's Commerce Minister K.T. Rama Rao has received an invitation to the World Economic Forum (WEF) annual meeting in Switzerland next month -- an invite generally restricted to Union Ministers or Chief Ministers, said an official statement on Wednesday.

The Information Technology, Industries and Commerce Minister has been invited to the prestigious meet in recognition of his

Global firms prefer Indian techies despite US visa issues: Nasscom

Despite rising visa barriers, global firms prefer to hire Indian techies in the US due to shortage of skills in North America, said IT industry apex body Nasscom President R. Chandrashekhar on Wednesday.

Global firms continue to find India suitable for talent and skilled workers in the US where there is an acute shortage of skills and despite stringent rules in granting H-1B visas for

Facebook asks new users in India to enter names as per Aadhaar

Facebook has begun testing a feature with a set of new users in India where they are being asked to enter names as per their Aadhaar details.

The social media giant, however, is not asking new users to give their Aadhaar number but just the name as written on their Aadhaar cards.

"This is a small test where we provide additional language when people sign up for an accou

President inaugurates Andhra Fibre Grid project

President Ram Nath Kovind on Wednesday inaugurated the Andhra Pradesh Fibre Grid project under which internet, television and telephone services will be available to every household for Rs 149 per month.

The President dedicated the project to the nation under which three services will be available at tariffs starting as low as Rs 149 for 5 GB data at 15 MBPS speed, 250 television chan

All trains to have bio-toilets by March 2019

 The government on Wednesday said it plans to complete the work of installing bio-toilets in all passenger trains by March 2019.

Minister of State for Railways Rajen Gohain, in a written reply to a question in the Lok Sabha, said that to achieve this, all railway workshops have been instructed to compulsorily install bio-toilets in all existing in-service eligible coaches undergo

Parrikar`s letter to Yeddyurappa on Mhadei a political stunt: Goa Minister

 Dismissing Chief Minister Manohar Parrikar's letter to Karnataka BJP leader B.S. Yeddyurappa as a "political stunt", Goa Water Resources Minister Vinod Palienkar on Wednesday said that his state will not share "a drop of water" of the Mhadei river with the neighbouring state.

"As Water Resources Minister I have made my stand clear. Whatever he (Parri

DoT suggests cutting GST on telecom services to 12%: Manoj Sinha

The Telecom Department has suggested the Finance Ministry that GST for telecom services be lowered to 12 per cent against the existing 18 per cent, Parliament was informed, reported PTI.. The recommendation was made during the process of the Budget exercise, and the matter is with the Department of Revenue under Ministry of Finance for necessary action, Telecom Minister Manoj Sinha said in a wr

S and P puts Indian banks in `Group 5` with Italy, Spain, UAE

The Indian banking sector has been classified under 'Group 5' along with countries such as Italy, Spain, Ireland, the UAE and South Africa by rating agency Standard & Poor's (S&P) on the basis of their economy and industry risk criteria, the American analysts said on Wednesday.

Noting that the "low-income" Indian economy and the government's limited f

Sebi may put 10% cross-shareholding cap in mutual funds

To avoid the potential conflict of interest, markets regulator Sebi is considering to put a 10 per cent cross-shareholding cap in mutual funds, senior officials said. The new measure may have an impact on the shareholding pattern of UTI Asset Management Company (AMC). State Bank of India (SBI), Punjab National Bank (PNB),Bank of Baroda (BoB) and Life Insurance Corporation (LIC) are having their

Irdai norms allow insurers to begin offshore biz from GIFTIFSC

Sectoral regulator Irdai has issued regulations for insurance firms to carry out offshore business from Gujarat-based GIFT International Financial Services Centre (IFSC). Insurance operations will get a major boost withInsurance Regulatory and Development Authority of India (Irdai) issuing enabling regulations for undertaking offshore insurance business from IFSC, Gujarat International Finance

India to save $1 mn in UN contributions after US pushes budget cuts

 India is likely to save about $1 million from its mandatory contribution to the world body next year as a result of the five per cent budget cut pushed by the US.

India's assessed share of the regular UN budget in 2017 was $20.46 million and a five per cent cut would amount to $1.023 million.

The UN General Assembly approved a two-year regular budget of $5.397 bill

New India to jobs, Niti Aayog has a cracker of year ahead

Year 2018 for the Niti Aayog, by all means, is going to be challenging -- after all, it has arguably the toughest job of giving shape to Prime Minister Narendra Modi's call for a New India by 2022 and a sharper focus on agriculture, malnutrition, higher education and jobs. The Aayog, Vice-Chairman Rajiv Kumar says, has already met various stakeholders and will soon finalise the New India @2