No need to change daily revision in fuel prices regime: Dharmendra Pradhan

Petroleum Minister Dharmendra Pradhan on Monday said the dynamic pricing regime, whereby prices of transport fuels are revised daily, would continue despite petrol prices going up by over Rs 6 per litre since the scheme was introduced pan-India from mid-June.

Speaking to reporters here after taking over additional charge of the Skill Development and Entrepreneurship Ministry following

Telecom Comm to decide on North East mobile towers project

The inter-ministerial panel Telecom Commission is likely to consider this week a proposal for setting up mobile towers in unconnected villages of the North East, as per official sources, reported PTI. "Telecom connectivity plan for improving connectivity in the North East will be placed before Telecom Commission on September 8," a government official, who did not wish to be named, tol

Insurance regulator empanels 7 creative agencies

Insurance regulator Irdai has empanelled seven creative agencies for production of TV spots, radio jingles and organising exhibitions with an aim to increase insurance penetration in the country, reported PTI. The empanelled agencies would be carrying out publicity campaigns at the national level.

The agencies are: Astral Advertising & Marketing India, Pamm Advertising & Marke

Sebi sees significant fall in pending investor complaints

Investor grievances pending with Sebi have declined nearly 18 per cent till March-end, with the markets regulator working on expeditious disposal of the complaints, according to the latest data reported by PTI.

The number of pending grievances has fallen sharply to less than one-tenth from 49,113 in 2008-09. The number of pending actionable complaints, which stood at 5,452 as on March

Railways planning flexi-fares for suburban railways: Reports

A railway committee has said that it is mulling flexibility in ticket pricing for suburban railways based on demand and competing facilities. As per reports, the committee, set up by Railway Minister Suresh Prabhu under the Minimum Government and Maximum Governance campaign, is considering changes in the present practice of a pan-India tariff even for suburban and other short distance services.

Railways to rename trains after renowned literary works

The railways ministry has said that it is looking at a proposal to rename trains after famous literary works, referencing not just their authors but the region they come from. Commenting on the issue, a senior rail official told the media, “So, passengers travelling to West Bengal could soon board a train named after a novel by Mahashweta Devi and a train ride to Bihar could reference a w

Government notifies hike in GST cess on mid, large cars to 25%

The government has notified hike in GST cess on a range of cars from mid-size to hybrid variant to luxury ones to a maximum of 25 per cent, from earlier 15 per cent, reported PTI. Following assent by President Ram Nath Kovind, the government has notified the Goods and Services Tax (Compensation to States) Amendment Ordinance, 2017.

The Ordinance was last week approved by the Union Cab

Kerala IT firms group expects vibrant start-up policy from Alphons

Welcoming former Kerala bureaucrat-turned-BJP leader K.J. Alphons getting charge of Tourism, Information Technology and Electronics in the Narendra Modi government, GTech, a body of Kerala's IT companies, on Sunday said it expects a vibrant start-up policy from him.

Group of Technology Companies (GTech) President K.Nandakumar told IANS that start-ups is just not for software alone

Prabhu indicates loss of portfolio

Suresh Prabhu on Sunday indicated that he was set to lose his Railway portfolio.

"Thanks to all 13 Lacs plus rail family for their support, love, goodwill. I will always cherish these memories with me. Wishing you all a great life," Prabhu tweeted after a swearing in ceremony of ministers at Rashtrapati Bhavan.

Prabhu, whose tenure as Railway Minister has

NHAI operationalises dedicated FASTag lane at toll plazas

In a fresh initiative for electronic toll collection (ETC), the National Highways Authority of India (NHAI) on Friday operationalised one dedicated FASTag lane at all toll plazas on National Highways.

"Now FASTag enabled vehicles can cruise through the dedicated FASTag lane without stopping at toll plazas on National Highways," said a Road Transport and Highways Ministry sta

Call drop rate comes down by 8% in one year: Manoj Sinha

The call drop rate has reduced by 8 per cent in the last one year, Communications Minister Manoj Sinha said here on Friday, adding that the government aimed to bring it down further by the year-end.

After a review meeting with telecom operators, the minister told reporters that the rate had come down by 8 per cent since the last review meeting held a year ago. Sinha also said that the

Deposit another Rs 5 cr, Supreme Court tells Unitech

The Supreme Court on Friday asked real estate major Unitech's Managing Director Sanjay Chandra to deposit another Rs 5 crore as it said that his bail plea would be considered on September 8.

The bench of Chief Justice Dipak Misra, Justice A.M. Khanwilkar, and Justice D.Y. Chandrachud noted that Rs 15 crore, as directed in the last hearing on August 24, has been deposited with the

Rajiv Kumar takes charge as new Financial Services Secretary

Rajiv Kumar, a 1984-batch IAS officer, on Friday assumed charge as the new Department of Financial Services (DFS) Secretary in place of Anjuly Chib Duggal after her retirement.

Kumar has wide administrative experience of more than 30 years in service, during which he held important assignments, including administrative postings in his home state of Jharkhand.

Before his late

Subsidised LPG hiked by Rs 7 per cylinder, jet fuel by 4%

State-run oil marketing firms hiked the price of subsidised cooking gas by Rs 7 per LPG cylinder, effective from Friday, as part of the decision to increase prices every month so as to eliminate subsidies.

Petroleum Minister Dharmendra Pradhan had informed Parliament in July of the government's decision to raise LPG prices by Rs 4 per cylinder every month to eliminate all the subs

Sebi eases financial reporting norms for bond issuers in IFSC

Sebi has allowed bond issuers in the International Financial Services Centre (IFSC) to prepare their financial statements as per accounting standards applicable in their country of incorporation. Besides, such issuers have to obtain the credit ratings either from an agency registered with Sebi or from any other agency registered in a Financial Action Task Force (FATF) member jurisdiction.

Indian businesses adapting to water scarcity: Survey

Businesses in India are adapting to water scarcity. Most sectors are feeling the heat of recent droughts, leading to increased costs of raw materials, says a survey of mega companies operating in India.

It says despite flooding in several states, water storage in reservoirs across India is 55 per cent of total capacity compared with 84 per cent on an average during the same period ove

IMG on telecom favours spectrum auction next fiscal

The inter-ministerial group (IMG), looking at measures to mitigate financial stress in the telecom sector, has recommended that the new round of spectrum auction be held in the next fiscal and not the current one, an official source said as per the PTI report. In its report, the IMG has also recommended that the payments for spectrum be taken in 16 instalments (16 years) as against the current

India invites Total to boost investment in oil, gas projects - minister

NEW DELHI  - India has invited French oil major Total SA to invest in the country's oil and gas infrastructure, Oil Minister Dharmendra Pradhan said on Friday.

"Encouraged Total to invest in infrastructure, gas pipelines, LNG terminals and petrochemicals," Pradhan said in a tweet after a meeting with Total chairman Patrick Pouyanne.

Total

Government seeks feedback on draft OAMDR (Amendment) Bill, 2017

The Ministry of Mines has prepared the draft Offshore Areas Mineral (Development and Regulation) Amendment Bill, 2017 seeking to amend the Offshore Areas Mineral (Development and Regulation) Act, 2002. As part of the Pre-Legislative Consultation Policy, the draft Bill along with an Explanatory Note explaining the provisions of the proposed draft Bill are available on the website of the Ministry

Government invites suggestions on draft Mineral (Amendment) Rules

The Ministry of Mines has prepared the draft Mineral (Auction) (Amendment) Rules, 2017 seeking to amend the Mineral (Auction) Rules, 2015. As part of the Pre-Legislative Consultation Policy, the draft Amendment Rules along with an Explanatory Note explaining the provisions of the proposed draft Amendment Rules are available on the website of the Ministry at www.mines.gov.in and are made availab

Union Bank, Dena Bank reduce MCLR rates

State-run lenders Union Bank of India and Dena Bank today reduced their marginal cost of lending rates across various tenors with effect from today. Union Bank has cut its MCLR by 20 basis points across all tenors. The new one-year MCLR has been set at 8.20 per cent as against 8.40 per cent earlier, Union Bank said in a statement.

Six-month MCLR has been cut to 8.05 per cent while two

AIIB to pump $1.5 bn in 6 Indian projects: Reports

A top Official has said that the Asian Infrastructure Investment Bank (AIIB) is planning to pump in USD 1.5 billion (Rs 9,599 crore) in six new projects in India that includes Rs 1,279 crore in India's National Investment and Infrastructure Fund (NIIF). As per reports, India has been trying to attract investments for NIIF from several international institutional investors. The Indian govern

Rajiv Kumar takes charge as NITI Aayog Vice Chairman

Rajiv Kumar, who took over as Vice Chairman of NITI Aayog on Friday, rejected criticism that demonetisation was responsible for the fall in Gross Domestic Product growth and said it cannot be blamed for that.

"Demonetisation should not be seen as the reason for the fall in GDP. There was a six-week period when cash deficit existed and from January (2017) things were fine," h

Kerala CM lays foundation for new IT campus

Kerala Chief Minister Pinarayi Vijayan on Friday laid here the foundation stone for the Rs 150-crore new campus of IT product company SunTec.

The new campus is coming up on a 10-acre land at the Technocity campus near Technopark. It would be ready in 24 months and would see the staff strength double.

The 17-storeyed building is the first block, which would have a 3.1 lakh sq

President invites Swiss firms to join India initiatives

President Ram Nath Kovind on has invited Swiss technology companies to participate in various initiatives of the Indian government and pursue closer business partnerships in priority sectors like precision and high-tech manufacturing.

Kovind's suggestion came after he received visiting Swiss President Doris Leuthard at Rashtrapati Bhavan here on Thursday and subsequently hosted a