Banks` net profit declines by 18% in Q2: CARE Ratings

Net profit of banks during the second quarter declined by 17.8 per cent as a result of fall in other income coupled with slower growth in interest income, CARE Ratings said in a report as per the PTI. The study takes into account 23 banks. Of this, 13 are private banks and 10 public sector lenders that announced their results on or before November 6, 2017.

However, the decline in net

Rural areas need affordable tariff structure to promote Digital India

The Ministry of Communications has said that Digital India, to provide Digital Services in rural and remote areas, is one of the priority areas of the Government. In order to provide affordable broadband services in rural India under the dynamic leadership of our Prime Minister of India Narendra Modi, a new attractive and affordable tariff structure has been decided with the principle of more y

Government seeks report from IndiGo over passenger manhandling incident

 Union Minister of State for Civil Aviation Jayant Sinha on Tuesday said that a detailed report has been sought from budget carrier IndiGo regarding an incident at Delhi airport last month, when a passenger was manhandled by the airline's staff.

The incident which took place on October 15 surfaced on Tuesday after a video showed passenger -- Rajiv Katiyal -- being manhandled

American expert favours Indo-US pact in IT sector

 A bilateral agreement in the IT sector between India and the US would benefit many sectors, including defence and aerospace, said a top official of an American advisory services firm on Tuesday.

"A bilateral US-India IT sector agreement will benefit many sectors such as defence, aerospace, banking, science and technology, infrastructure and flow of people," said The St

Railways` revenue through digital payment up 12%

The Indian railways on Tuesday reported a rise of over 12 per cent in its cashless revenue stream generated from the reserved segment of e-tickets till August, 2017 from the period of 2016-17.

The massive rise in cashless revenue stream from the reserved segment category was attributed to various steps initiated by the railways, a railway ministry official said.

"The ca

40% increase in bilateral trade with India: Vietnamese Ambassador

There has been an over 40 per cent increase in bilateral trade between India and Vietnam in the first nine months of this year compared to the same period last year, Vietnamese Ambassador Ton Sinh Thanh said on Tuesday.

He added that this growth was "much higher" than growth in Vietnam's bilateral trade with any other country and also made India one of the top ten tradin

Coal India app for smooth fuel delivery by road launched

The Union Coal Ministry launched a mobile application to facilitate smooth despatch of coal by road transport to customers of state-run Coal India Ltd (CIL), an official statement said on Tuesday.

The "Grahak Sadak Koyla Vitaran" app was unveiled recently in Kolkata by Coal and Railway Minister Piyush Goyal, a Ministry statement said here.

"This app is a step

US India`s biggest trade partner: US diplomat

With bilateral trade between India and the US reaching $115 billion last year, US is now India's "number one trade partner", a US diplomat said here on Tuesday.

"The United States is now India's number one trade partner and US exports of goods in services to India support more than 200,000 US jobs," US Consul General in Chennai Robert G. Burgess said at the

TRAI issues advisory to DTH operators to enable online payment

The Telecom Regulatory Authority of India (TRAI) has issued an advisory to all direct-to-home (DTH) operators for enabling online payment system using Bharat Interface for Money (BHIM)/Unified Payments Interface (UPI) and Bharat QR code.

"Government of India is making efforts for promoting a less cash economy and Digital Payments in various utilities. To achieve the above mention

Can build French-style ropeways, cable cars: Nitin Gadkari

There is potential to build thousands of ropeways, cable cars and funicular railways in India's hilly regions, just like in France, Union Road Transport and Highways and Shipping Minister Nitin Gadkari said on Tuesday.

Gadkari, who was in Goa to conduct a review of all works related to major ports in the country, also said that the newly formed Indian Port Rail Corporation would b

PE activity zooms 77% in October: Report

Private equity (PE) activity in the country rose by 77 per cent to $2.1 billion worth of transactions in October, a report said on Tuesday.

According to EY's monthly PE deal tracker for October 2017, the industry witnessed $2.1 billion worth of transactions spread across 56 deals.

In October 2016, the country's PE activity recorded 60 deals worth $1.2 billion.

Will transport liquid cargo by road, waterways : Nitin Gadkari

The Shipping Ministry has decided to transport liquid cargo like LNG, LPG, methanol, CNG and edible oils by waterways and railways instead of roads, and will focus on creating infrastructure for it, Union Road Transport and Highways and Shipping Minister Nitin Gadkari said on Tuesday.

Gadkari, who was here to conduct a review of all works related to major ports in the country, said: &

Fund raising via preferential allotment rises 25% in April-September

Indian companies garnered over Rs 23,000 crore through issuance of shares on preferential basis during April-September of the ongoing fiscal, a jump of nearly 25 per cent from the year-ago period. The funds were mobilised for business expansion, refinancing of debt, working capital requirements and other general corporate purposes. As per the Securities and Exchange Board of India data, funds r

`Policy on recycling batteries needed for electric vehicles`

The government should draw up a recycling policy on batteries before going in full speed towards electric vehicles, failing which there will be the risk of water getting polluted due to old batteries, said a top Mercedes-Benz India official here on Tuesday.

Interacting to reporters here after launching two new models - Mercedes-AMG CLA 45 and GLA 45 4MATIC, Managing Director and CEO R

Telecom department looks to bring in new telecom policy by February: Manoj Sinha

The telecom department (DoT) looks to finalise the new telecom policy by February and would release its draft by December-end for public comments, Union minister Manoj Sinha said today. "We are trying to bring new telecom policy by February. For this the working group has started the process. We expect to finalise draft by end of December and place it for public comments," the Communi

Pet coke ban to render 25 lakh workers in NCR jobless:Assocham

The Supreme Court’s decision to ban distribution, sale and use of furnace oil and pet coke in the national capital region will render over 25 lakh workers jobless, Assocham said. “The industries are already under tremendous stress after the implementation of GST and the ban on use of pet coke will prove to be the final nail in the coffin. Over 25 lakh workers will be rendered jobles

Moody`s ups rating outlook for BoI, Union Bank, OBC to stable

Moody's Investors Service said it has revised the rating outlook on three PSU lenders - Bank of India, Union Bank and Oriental Bank of Commerce - to stable from negative, reported PTI. The upgrade in outlook follows the government's announcement last month to infuse an unprecedented Rs 2.1 lakh crore into public sector banks over two years.

"Moody's changed the outloo

Foxconn to expand in TN at Rs 300 cr outlay: Minister

Taiwanese consumer electronic gadget contract manufacturer Foxconn is expected to invest Rs 300 crore in expansion of their operations here and the government has approved allotment of 49 acres land, said Tamil Nadu Industries Minister M.C.Sampath.

Interacting with reporters on the sidelines of Connect-2017 organised by Confederation of Indian Industry (CII), he said Foxconn has said

Power ministers to meet on electrifying all households by 2018

Central and state Power Ministers are slated to brainstorm over how to realise the 'Saubhagya' scheme target of reaching electricity to all households by the end of 2018, at a two-day meeting in Bihar beginning on Friday, an official statement said here.

The conference of Power and New and Renewable Energy Ministers of states and union territories, to be held in Bihar's Ra

Railway unveils its first refurbished Shatabdi Express under Operation Swarn

The Indian Railways on Monday unvieled its first Shatabdi Express train with upgraded comfort, enhanced hygiene, value-added features and improved interior under its 'Operation Swarn' programme.

The train, which will run between Uttarakhand's Kathgodam and New Delhi, covering a distance of 282 km, now has a complete new refurbished interior with colorful vinyl wrapped seat

AAI installs new ILS at Chennai airport

To augment air navigation services in Chennai, state-run Airports Authority of India (AAI) on Monday said that it has installed a new Instrument Landing System (ILS) at the city's airport.

According to AAI, the new ILS has been installed at a cost of Rs 5 crore.

In aviation parlance, the system provides necessary guidance to the aircraft for landing in various weather co

Airbus signs pact with UTair India for support services

The European aviation major Airbus has entered into a pact with UTair for providing various support services like fleet maintenance, spares supply and operations training to the private helicopter operator. The five-year contract signed with UTair India Privater Limited will cover its H125 helicopter fleet, a release said today. UTair India, which is a subsidiary of UTair Aviation of Russia, ha

Farmers can be paid Rs 2 lakh in cash: Central Board of Direct Taxes

 Traders can pay farmers up to Rs 2 lakh in cash against the purchase of their wheat produce notwithstanding income tax rules, the Central Board of Direct Taxes has said.

The move comes due to disaffection among farmers as they were not being paid even Rs 50,000 in cash for agricultural produce bought under the Minimum Support Price scheme despite instructions to this effect from

Supreme Court seeks Aviation Ministry`s response on transgender`s job plea

The Supreme Court on Monday sought the response of the Civil Aviation Ministry on a petition by a transgender person challenging a medical board's rejection of her job application as a cabin crew in Air India.

A bench of Chief Justice Dipak Misra, Justice A.M. Khanwilkar and Justice D.Y. Chandrachud gave the Ministry four weeks time to respond.

Advocate K.P. Singh, who a

Guinea becomes new member of International Solar Alliance

In tune with India's growing engagements with Africa, External Affairs Minister Sushma Swaraj held a meeting with Guinea's Foreign Minister, Mamady Toure, during the course of which the latter handed over his country's instrument accession to the India-initiated International Solar Alliance (ISA).

According to a statement issued by the External Affairs Ministry, Sushma Swa