Railways to procure modern inspection cars

With a view to ensure safe rail operation, the Railways will procure modern inspection cars to examine the electrical overhead equipment (OHE) on the tracks, reported PTI. The Railways has decided to introduce eight-wheeler OHE maintenance and inspection cars to carry out the overhead electrical inspection work, according to a release.

The Research Design Standard Organisation (RDSO),

Non-life insurance sector looks for lower GST rates

The non-life insurance industry is looking for centralised registration facility and comparatively lower rates for a smooth implementation of GST, a senior official from the sector said as per the PTI report. Goods and Services Tax (GST), which seeks to turn India into a single market for the first time, is likely to be implemented by the Government during the next fiscal.

"In th

Cabinet nod for merging SBI with 5 associate banks

The Union Cabinet on Wednesday approved the merger of State Bank of India and its five associate banks, Finance Minister Arun Jaitley announced here.

"The cabinet approved the merger into SBI of its five subsidiaries, namely, State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Travancore, State Bank of Mysore and State Bank of Patiala," Jaitley told

Indian cabinet approves State Bank`s planned merger with subsidiaries

MUMBAI - India's union cabinet has approved top lender State Bank of India's (SBI) planned merger with its five subsidiary banks, Finance Minister Arun Jaitley said on Wednesday.

SBI is merging with State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore.

SBI has said th

India Ratings and Research revises CV loans to stable to negative for FY18

India Ratings and Research (Ind-Ra), a leading research agency, has revised the outlook on commercial vehicle loans to stable to negative for FY18 from stable for FY17. The agency believes that the combined effect of the marginal 0.4 per cent yoy growth in industrial activity and 8 per cent increase in diesel price without a similar improvement in freight rates over April to November 2016 will

Market share gains to continue for NBFCs in FY18, says India Ratings and Research

India Ratings and Research (Ind-Ra) has maintained a stable outlook on the non-bank finance company (NBFC) sector and on the major NBFCs rated by it for FY18. Ind-Ra believes that NBFCs would continue to gain market share on account of their nimbleness & efficiency and fill the space vacated by mid-sized public sector banks owing to either capital constraints, flight to safety or limited ab

Insurance penetration in India may cross 4% this year: Report

Insurance penetration in India is expected to cross the 4 per cent mark by the end of the year amid proliferation of insurance schemes, says a report. "The insurance penetration has started its northward journey is evident from the fact that it has increased from 3.3 per cent in 2014 to 3.44 per cent in 2015 on the back of various insurance schemes launched by the government," said th

E-commerce likely to touch USD 50-55 bn by 2021: Study

E-commerce market is expected to be at USD 50-55 billion by 2021 from the current USD 6-8 billion, according to a recent report.

The report by Retailers Association of India and Boston Consulting Group revealed that on decoding the digital opportunity sectors that could see maximum e-commerce penetration would be consumer electronics, apparel, homeware and furniture, luxury, health, F

Urea imports decline 36.43% till January this fiscal: Reports

A senior government official has said that Urea imports declined by 36.43 per cent to 51.65 lakh tonnes till January this fiscal on better domestic output and less diversion of the subsidised fertilizer. As per reports, the country had imported 81.26 lakh tonnes of urea in April-January period of 2015-16 fiscal. Commenting on the issue, a senior Fertiliser Ministry told the media, "Urea im

Government wants Air India to survive: Minister

Union Minister for Civil Aviation Ashok Gajapathi Raju has said that the Centre wants Air India to survive and does not mind who runs it as long as it serves the Indian people. Commenting on the issue, Civil Aviation Ashok Gajapathi Raju told the media, "If it is left like what it is, it is bound to die.... we want Air India to survive, we don't mind where it is, who runs it.

Railways to offer space for app-based cab services

Encashing the growing demand for application-based cab services, the Railways is all set to provide space for such facility at about 500 major stations, eyeing an annual profit of Rs 300 crores, reported PTI.

Railway Minister Suresh Prabhu will unveil the new policy for app-based cab service next month along with providing parking space and kiosks near major stations. The Railways at

Modern retail to reach Rs 1,71,800 cr in top 6 cities by 2019: Knight Frank

Size of modern retail in India in the top six retail markets is set to double and reach Rs 1,718 billion by 2019, says a research report as per the PTI. According to the Knight Frank India and Retailers Association of India (RAI) third edition of 'Think India. Think Connected Retail' report, modern retail channel is projected to reach Rs 1,718 billion by 2019 in the top six retail marke

Trai shifts deadline for Net neutrality comments to March 15

Telecom regulator Trai has extended the last date for comments on the contentious Net neutrality by a month to March 15, reported PTI. Telecom operators and Internet-based companies have been at loggerheads on the issue which is linked to providing preferential access to select customers.

"On request from the stakeholders, the last date for receipt of written comments, if any, fr

Pharma pricing regulator cuts stent prices by up to 85%

 In a major measure of relief to cardiac patients in India, the government on Tuesday fixed the ceiling price of coronary stents which are used to open up blocked arteries.

The National Pharmaceutical Pricing Authority, in a notification, put a ceiling price on drug eluting stents (DES) and bioresorbable stents at Rs 29,600, and that of bare metal stents at Rs 7,260, effective fr

India currently home to a booming e-commerce business

Digital is not perceived only as a sales channel anymore as it has become a way of life, says a representative of Fossil Group, a brand that owns the franchisee of some sought after foreign labels like Michael Kors, Emporio Armani and Kate Spade.

The Indian e-commerce business is projecting a jump of upto $45 billion by 2021. Close to 240 million people are forecast to purchase produc

Strong payment mechanism to ease fund raising for solar projects

The strong payment security mechanism from the counterparty in the recently concluded auctions for 750 MW of solar projects in Rewa Solar Park, Madhya Pradesh, will enable fund raising at competitive rates, says India Ratings and Research (India Ratings). The agency believes that the reduced risk from the counterparty because of payment security mechanisms is one of the levers for the steep fal

Bonds and rupee to witness measured weakness in FY18: Ind-Ra

India Ratings and Research (Ind-Ra) has said that it expects overall yield curves to stay elevated. The expectation is against a backdrop of evolving unfavourable global conditions and limited role by the Reserve Bank of India (RBI). However, the agency believes that the banking sector’s large appetite for government bonds will anchor interest rates in FY18.

The 10-year benchmar

Cos raise Rs 1.52 lakh cr via bonds on BSE e-book platform

PFC has raised Rs 2,551 crore by issuing bonds on private placement basis on BSE's electronic book mechanism, taking the total fund raising by companies to Rs 1.52 lakh crore since the launch of this platform last July. The BSE-BOND was launched on July 1 to facilitate online bidding for private placement of debt securities.

Since then, 53 companies have raised Rs 1,51,865 crore t

Railways to unveil auto door locking system to enhance safety

The Indian Railways has said that to enhance passengers safety and curb criminal activities onboard, train coaches will be fitted with automatic door locking mechanism soon. Under the new system to be controlled by train guard from his cabin, all doors will automatically open when a train arrives at station and close before it departs.

As per reports, incidents of passengers falling o

Viability Gap Funding to support infra projects: Reports

The Indian Government has said that Viability Gap Funding, which has been provided a budgetary support of Rs 550 crore, will support projects worth Rs 2,750 crore towards infrastructure building in 2017-18. The VGF was Rs 1,000 for the current fiscal. VGF of up to 20 per cent of the total project cost is provided under this scheme.

The Output-Outcome Framework for Schemes 2017-18 said

Capacity addition from renewable resources after 2023-24: TERI

A TERI report has said that new capacity additions could all come from renewable sources like solar, wind and hydro power, but that is only after 2023-24, subject to cost competitiveness and the grid's ability to handle clean energy.

According to the Energy and Resources Institute report released by Power Minister Piyush Goyal, new power generation capacity could be all renewables

Government to extend deadline for thermal plants to meet emission norms

The Indian Government has said that the Environment Ministry is on board to consider extension of December 2017 deadline for coal-based thermal power plants to meet stricter emission norms. Commenting on the issue, Power Minister Piyush Goyal told the media, "I don't want that we import equipment (to meet deadline for meeting emission norms). We realised after discussions that it would

IoT to grow rapidly in India by 2020: Report

 Internet of Things (IoT) units in India are expected to see a rapid 31-fold growth to reach 1.9 billion by 2020, Deloitte predicted on Monday, adding that the market value of IoT is expected to reach $9 billion by 2020.

IoT is going to be the next big thing for operators as India will rapidly grow into a hub for IoT solutions. 

"With advances in reliability,

Court frames charges against Domco, others in coal scam

A court here on Monday framed charges against a Ranchi-based company Domco Private Limited and five individuals accused in a coal block allocation case.

Special Judge Bharat Parashar framed charges against Domco (earlier known Domco Smokeless Fuels Pvt. Ltd.) and its directors -- Binay Prakash, Vasant Diwakar Manjrekar and Parmananda Mondal -- and chartered accountants Manoj Kumar Gup

E-commerce major Snapdeal receives ISO/IEC 27001:2013 certification

E-commerce major Snapdeal announced that it has received the ISO/IEC 27001:2013 certification making it among the few ecommerce companies in the country to do so, reported PTI. The ISO 27001 is the only auditable international standard which defines the requirements for an Information Security Management System to ensure that sufficient security controls are instituted within the certified orga