Railway Board to gauge impact of process reforms: Reports

Railway Board chairman Ashwani Lohani has said that he has been given the responsibility to find out during a 15-day drive about the impact of empowerment and process reforms. As per reports, Lohani has said that while he has received informal feedback over the past few months on instructions issued by the board with regards to delegation of power and process reforms, he now wants a structured

Increasing automation, Infosys spat disrupted India`s IT industry

The resilient Indian IT industry, which has been going through challenging times on multiple fronts, faced disruption in 2017 from increasing automation and the boardroom spat in software major Infosys spilling into the public domain.

Though the $150-billion (almost Rs 10 trillion) software sector reconciled to single digit export growth of 7-8 per cent for the 2017-18 fiscal, demand

Only `moral financing` prevails, says Anil Ambani

For Reliance Communications, repaying its debt was not just about business but a moral imperative, Reliance Group Chairman Anil Ambani said while announcing the roadmap to cutting RCOM's debt to Rs 6,000 crore.

Replying to a question on Tuesday, Ambani said: "This is not just about business and repaying debt. Morally, what is right has to be done. That's always been our a

India, Israel hold talks on cooperation in defence, security

Ahead of Israeli Prime Minister Benjamin Netanyahu's visit to India next month, the two countries today reviewed their cooperation in strategic areas such as defence and homeland security. The review was done during the foreign office consultations in which the Indian delegation was led by Secretary Economic Relations in the Ministry of External Affairs (MEA) Vijay Gokhale while the Israeli

Bivoltine silk output may rise 19% in 2017-18: Government

The production of import substitute bivoltine silk in the country is expected to reach around 6,200 million tonnes (MT) in 2017-18 as compared to 5,266 MT a year ago, registering an increase of 19 per cent, the Textile Ministry said as per the PTI report. The ministry, in an official statement on the significant achievements in the current year, said Muga silk has recorded highest ever producti

Indians travel more in 2017 on low airfares, hotel rates

The year 2017 saw Indians travelling more frequently than before, fuelled by affordable airfares and hotel rooms besides ease of booking combined with enhanced technology, says a survey as per the PTI. Besides, inbound travel increased during the year with spike in medical and wellness travellers from neighbouring destinations of Bangladesh, Nepal and Bhutan as also with the government extendin

`Telecom a money guzzler, even Tatas had to gift it away`

Months after voicing fears of an emerging monopoly in the sector and a forceful shutdown of Reliance Communications' consumer business, Anil Ambani on Tuesday said telecom has become a money guzzler where only those with deep pockets can survive, reported PTI. Even the "mighty" house of Tatas had to "gift away" their telecom business (to Airtel), Ambani asserted, soundin

India inks $318 mn World Bank loan for TN irrigation scheme

The governments of India and Tamil Nadu on Tuesday signed an agreement with the World Bank for the multilateral lender to provide a $318 million loan for modernisation of irrigation projects in Tamil Nadu, improve market opportunities for small and marginal farmers and their adoption of climate resilient techniques.

According to an official statement here, around 5 lakh farmers, of wh

UP Gate-Raj Nagar Extn elevated road in Ghaziabad to open mid-January

The city's ambitious elevated road project -- connecting UP Gate at Delhi border and Raj Nagar Extension -- will be completed by December 31 this year and become operational by January 15, 2018, said a senior official on Tuesday.

"We are in the process of inviting Uttar Pradesh Chief Minister Yogi Adityanath," Ghaziabad Development Authority (GDA) Vice Chairperson and Di

Only 1.7% Indians paid income tax in AY-2015-16: Data

According to data released by the I-T department, just over 2 crore Indians, or 1.7 per cent of the total population, paid income tax in the assessment year (AY) 2015-16. Commenting on the issue, an IT Official told the media, “The number of income-tax return filers increased to 4.07 crore in assessment year 2015-16 (FY 2014-2015) from 3.65 crore in the previous year but only 2.06 crore a

RBI sets rupee reference rate at 64.0538 against US dollar

The Reserve Bank of India (RBI) on Tuesday fixed the reference rate of the rupee at 64.0538 against the US dollar and 76.0255 for the euro. The corresponding rates were 64.0409 and 75.8821, as on 22 December 2017.

According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 85.6720 and 56.53 per 100 yens, respectively, based on reference rates for

Machine learning will not replace people in all jobs, say experts

 Machine learning (ML) systems, an element of what is known as Artificial Intelligence (AI), can outperform people in a number of tasks though they are unlikely to replace people in all jobs, say researchers.

In a "Policy Forum" commentary published in the journal Science, Tom Mitchell of Carnegie Mellon University and Erik Brynjolfsson of Massachusetts Institute of Tec

Sebi directs Suvidha Farming to complete refund by March

Markets regulator Sebi has ordered Suvidha Farming and Allied Ltd and its directors to complete by March the repayment of investors' money that the firm had collected through illegal investment schemes, reported PTI. The company had raised Rs 28.22 crore from 2,69,905 investors through Collective Investment Schemes (CIS) from 2010 to 2014 without obtaining the regulator's approval.

Cloud, AI top technology trends that ruled BFSI sector in 2017

Cloud computing and using Artificial Intelligence (AI) to process vast amounts of disparate data were most picked up in 2017 that brought success for the Banking, Financial Services and Insurance (BFSI) sector in India, Microsoft said on Tuesday.

"The year 2017 witnessed a revolution in the BFSI sector as far as technology integration is concerned. A digital culture shift, design

20% hike in water, sewer charges in Delhi

 The Delhi Jal Board on Tuesday increased a combined water and sewer tariff in the city by 20 per cent for consumption of more than 20,000 litres per month.

"No change in water tariff in Delhi for households using upto 20,000 litres per month for third consecutive year. Above 20,000 litres, a 20 per cent combined hike on water and sewer charges approved in Delhi Jal Board me

Assocham urges interest equalisation of 3% in yarn exports in 2018-19 budget

 Assocham on Tuesday urged the government to provide interest equalisation of three per cent in respect of yarn exports in the budget for 2018-19, with a view to boost yarn exports and ensure that domestic product can compete in global markets.

As part of its pre-budget recommendations on indirect taxes submitted to the Centre, the industry lobby also requested that two per cent

Online hiring up 16% YoY in November : Report

Online hiring activity registered a 16 per cent growth year-on-year (YoY) during November primarily driven by growth in the non-IT sector, a report by job portal Naukri.com said on Tuesday.

According to the survey, the Naukri JobSpeak index for November at 2,113 saw a 16 per cent growth from the corresponding month in 2016, with a broad-based growth in jobs observed in multiple indust

Indian airlines to induct 900 aircrafts in next few yrs

According to official data, Indian airlines are likely to induct more than 900 aircraft in the coming years, with IndiGo alone expected to add 448 planes. As per reports, India is one of the fastest growing aviation markets in the world and most airlines have ambitious expansion plans, especially to tap the potential on regional routes.

As per data available with the civil aviation mi

Railway launches India`s First AC EMU on Mumbai Suburban

The long awaited dream of Nation especially of Mumbaikars for ‘Cool Travelling’ in ‘Air Conditioned local train’ is going to be a pleasant reality, as First Ever Broad Gauge Air-conditioned AC EMU suburban train consisting of 12-car (12 coaches) fitted with Indigenous 3-phase Propulsion system of BHEL on Mumbai Suburban Section of Western Railway was introduced on Decemb

RBI to sell four dated Government securities for Rs 15,000 cr

The Reserve Bank of India on Friday said that Government of India will sell of four dated securities for Rs 15,000 crore on December 29, 2017. “The auction will be conducted using multiple price method,” RBI said in a press release. Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E

UP introduces power scheme to mark Vajpayee`s birthday

Uttar Pradesh has launched a free household power connection scheme for the poor in the state to mark former prime minister Atal Bihari Vajpayee's birth anniversary. "To begin with Lohban and Gausana, the two villages of Mathura district have been covered for 100 per cent electrification on the birth anniversary of former prime minister Atal Bihari Vajpayee," said Srikant Sharma,

213 railway projects see cost overrun worth Rs 1.6 lakh cr

According to a government report, the Indian Railways' 60 per cent projects out of the total 353 central sector projects are facing huge cost overrun due to various reasons. As per the flash report of the Ministry of Statistics and Programme Implementation (MOSPI) for September, 2017, as many as 213 railway projects are facing total cost overrun of Rs 1.6 lakh crore.

As per report

FPIs` net outflow from equities at Rs 7,300-cr in December so far

Overseas investors have pulled out a massive Rs 7,300 crore from the country's stock markets this month so far, primarily due to rising crude prices and widening fiscal deficit, reported PTI. This comes following an eight-month high inflow of Rs 19,728 crore in November, mainly on account of the government's plan to recapitalise PSU banks and surge in India's ranking on the World Ba

Bond market issuances likely to remain stable: India Ratings

The primary market activity in the corporate bond markets is likely to remain stable in the near future but growth in the segment may take time to pick up due to weak capex plans by industries, says a report as per the PTI.

During the second half of the fiscal 2017-2018, the corporate bond market remained stable at Rs 1.52 trillion as against Rs 1.64 trillion in the April-June quarter

India to link its major highway corridors: Nitin Gadkari

The Indian Government has said that to facilitate trade with bordering countries like Nepal and Bangladesh, India will link its major highway corridors to international trade points at a cost of Rs 25,000 crore.

Commenting on the issue, Union Minister Nitin Gadkari told the media, "About 2,000 kms of highways will be constructed to link major highways corridors to international t