Rajya Sabha adjourned for day amidst ruckus over currency notes

The Rajya Sabha was on Wednesday adjourned for the day after repeated disruptions in the post-lunch session over different sizes of currency notes of same denomination.

As soon as the House met at 2 p.m., Congress member and former Union Minister Kapil Sibal again raised the issue of Rs 500 currency notes of varies sizes. He had first raised the matter on Tuesday.

"I ha

Many organisations willing to pay more for 5G: Gartner

5G is still a few years away but several organisations worldwide have already showed willingness to embrace it, market research firm Gartner said on Wednesday.

Nearly 75 per cent end-user organisations would be willing to pay more for 5G mobile capabilities, of which 31 per cent are ready to pay up to 10 per cent higher price than existing 4G, 22 per cent willing to pay 10 to 20

Farm loan waiver should not become a policy: Bimal Jalan

Former Reserve Bank of India (RBI) Governor Bimal Jalan on Wednesday said farm loan waivers should be a 'need based' one-time decision and should not be turned into a policy.

"Farm loan waiver as a one-time effect is all right. But you can't make it a policy," Jalan said here on the sidelines of the 'Economics and Governance' event organised by think tank

Customers dissatisfied with telecos performance: Survey

As per a survey conducted by the sector regulator Trai across three circles -- Delhi, Madhya Pradesh and Karnataka, telecom operators failed to meet customer satisfaction benchmark, said media reports. As per the survey report, a majority of customers in these circles are dissatisfied by efforts of telecom operators to address the call drop issue and other major counts such as network signal, d

Passenger vehicle sales to grow 9-10% in FY`18: ICRA

Domestic passenger vehicle sales will grow by 9-10 per cent during the ongoing fiscal driven by factors like low penetration levels and increasing disposable income, rating agency ICRA said today. The sales are expected to grow in the range of 9-11 per cent at a compounded annual growth rate (CAGR) over the next five fiscals. "Industry's long-term prospects remain favourable given the

Government tweaks HPCL sale terms to avoid`open offer`

The government has tweaked the terms of sale of its 51.11 per cent stake in HPCL to ONGC by including phrases that will help avoid triggering an open offer, an official said. The Cabinet Committee on Economic Affairs (CCEA) had on July 19 granted 'in-principle' approval for strategic sale of the government's existing 51.11 per cent stake in Hindustan Petroleum Corp Ltd (HPCL) to Oil

GMR to develop greenfield International Airport at Mopa in Goa

The GMR Goa International Airport Limited, an SPV formed by the GMR Airports Limited has signed Concession Agreement with Government of Goa for development and operation of Greenfield International Airport at Mopa on 8th November 2016. The GMR Airports Limited has won the project through international competitive bidding process with highest revenue share of 36.99per cent, said an official stat

Nabard arm Nabsamruddhi to finance non-farm activities

Nabsamruddhi Finance, a subsidiary of the National Bank for Agriculture and Rural Development (Nabard), said that it will be expanding its operations to non-farm sectors. The company will provide credit to NBFCs, Mutually Aided Cooperative Thrift and Credit societies (MACTs), NGOs, FPOs, SHG federations for on-lending to eligible rural borrowers for taking up various non-farm activities.

Foreign buyers can buy more in Ramkrishna Forgings, Quess Corp

Foreign investors can now buy more shares in Ramkrishna Forgings and Quess Corp as boards of the companies have passed resolutions to hike such limit to 49 per cent and 74 per cent, respectively. The RBI today notified that FII and FPI limits under PIS in Quess Corp has increased from 24 per cent to 74 per cent of its paid-up capital. For Ramkrishna Forgings, the limit under portfolio investmen

Medical devices, pharma should be under new ministry: Minister

The Indian Government has said that the Department of Pharmaceuticals (DoP) feels that subjects and regulatory bodies related to pharmaceuticals and medical devices should preferably be under a new ministry. Commenting on the issue, Minister of State for Chemicals and Fertilisers Mansukh L Mandaviya told the media, “The new ministry could be named Ministry of Pharmaceuticals and Medical D

Telecom sector stress:IMG to meet soon to finalise report

The inter-ministerial group constituted to suggest measures to ease financial stress in the telecom sector will meet next week to discuss and finalise its report, according to a senior DoT official, reported PTI. The high-level group will hold its next meeting on August 14 and August 16 to "discuss, finalise and sign" its report, said the official who did not wish to be named.

Diesel car sales fell to 27% in 2016-17: Government

Three-fourths of fuel cars sold in India in 2016-17 were of petrol whereas sales of diesel cars plummeted to 27 per cent, from 47 per cent in 2012-13, the government said as per the PTI report. According to data on fuel-wise sales percentage in domestic sales placed in Parliament today, the percentage of diesel cars sold in India has been consistently declining since 2012-13.

Society

4.22 lakh hectare of agricultural land affected by floods: Mamata Banerjee

West Bengal Chief Minister Mamata Banerjee on Tuesday said as much as 4.22 lakh hectares of agricultural land was affected by the recent flood, which she once again called "man-made" due to excessive release of water by Damodar Valley Corporation (DVC).

"As much as 4.22 lakh hectares of agricultural land was affected and more than 1.06 lakh people have taken shelte

Trai questions 3rd party right over user-generated data

Telecom regulator Trai questioned the control of third-party entities such as app stores to "limit" mobile users' right over their own data in the name of data security and privacy, reported PTI. Trai Chairman R S Sharma said the question is who owns data like call logs and messages that a user receives on his/her mobile, and whether third-party entities can actually "extingu

Titan to enter US market on Amazon.com

 Leading watch and jewellery maker Titan would foray into the US market on the e-tailer Amazon.com, said its Chief Executive S. Ravikant on Tuesday.

"Our entry into the US as part of the Amazon global selling programme allows us direct access to the American market. We will offer value for money to its online customers through the partnership," he told reporters he

NTPC will not purchase any stressed assets: Piyush Goyal

State-run power generator NTPC will not acquire stressed assets, but is open to operating projects owned by others as a business proposition, Power Minister Piyush Goyal said on Tuesday.

"NTPC is not taking over any stressed assets. If the banks take over any stressed assets and they run a due process, everybody will be free to participate in that, including the PSU (public secto

Rs 354 crore FDI in agriculture in April-May: Minister

India has received Foreign Direct Investment (FDI) of Rs 354 crore in the agriculture sector between April and May this year, Minister of State for Agriculture S.S.Ahluwalia told the Lok Sabha on Tuesday.

In a written reply, Ahluwalia said the FDI in 2014-15 was Rs 365 crore while it was Rs 553 crore in 2015-16 and Rs 515 crore in 2016-17.
 

Online travel agents can deduct 1% tax collected at source: CBEC

 Online travel agents fall in the category of e-commerce operators and can deduct 1 per cent tax collected at source (TCS) under the GST, the Central Board of Excise and Customs (CBEC) said on Tuesday.

"Online travel agents providing services through digital or electronic platform will fall under the category of e-commerce operators (ECO) liable to deduct TCS under Section 5

Biofuels related work taken away from MNRE, given to oil ministry

Work related to biofuels has been taken away from the Ministry of New and Renewable Energy (MNRE) and placed under the oil ministry, an order issued by the Cabinet Secretariat said according to the PTI report. President Ram Nath Kovind has given the approval for the change in rules relating to this, it said. According the recent order, MNRE will not handle work related to the national policy on

Ensure safety of customers` lockers: RBI to banks

The Reserve Bank has asked banks to ensure customers' lockers remain safe and there is "no negligence" that could render banks liable to claims by locker holders, Parliament was informed as per the PTI report. Besides, banks are being probed by fair trade regulator CCI for alleged cartelisation in providing locker services to their customers. In a written reply to the Rajya Sabha,

Indian handset market records over 350mn shipments in 2017

With smartphones constituting 43 per cent of the total handset shipments in 2016 -- having gained immense popularity in the last four years -- the Indian handset market has recorded over 350 million shipments in 2017, a joint study said here on Tuesday.

According to the Assocham-KPMG study, there has been a surge in revenue from Rs 111,000 crore in 2015 to Rs 135,000 crore in 2016.

Government forms panel to make drugs more affordable

The government has formed a committee in its bid to make drugs more affordable in the country, Parliament was informed today. "Government has constituted a committee of joint secretaries for ensuring enhanced affordability, availability and accessibility of drugs for the citizens," Minister of State for Chemicals and Fertilisers Mansukh L Mandaviya said in a written reply to Lok Sabha

Monsoon not stopping Indians from planning holidays: Survey

The monsoon season was once considered a lean period for travel, but Indians are planning holidays with full gusto this time, according to a survey.

Online travel portal Yatra.com conducted its annual monsoon survey, which witnessed the participation of 1,500 people from cities like Mumbai, Bengaluru, Hyderabad, Kolkata, Vadodara and more. It brings into spotlight the changes in the w

`Namaskar 2007` expo aims to boost India-West Africa trade

A three-day "Namaskar 2007" exposition, to be held here later this month, aims to brand India as a leading economic player and partner of the West African region and boost two-way trade.

It will help facilitate Indian investments into Ghana and neighbouring West African countries, create awareness about the best Indian technologies and products in the region as well as explo

CAG reports Rs 1,900 cr illegally extracted Iron ore in Goa

The Comptroller and Auditor General (CAG) has said that in its report it has pointed out that overall Rs 1,900 crore worth illegal extraction of iron ore was reported in the state between 2009-16 in violation of the mining plan and environment clearances (ECs). According to the report, the performance audit on systems and controls in collection of minerals receipts has revealed a number of syst