Cabinet clears bill for stricter law against cheque bouncing

Union Cabinet chaired by Prime Minister Narendra Modi on Friday cleared a bill for imposing stricter provisions for cheque bounce, and incentive for the payee who suffers, Law and Justice Minister Ravi Shankar Prasad said.

Prasad said the bill would amend the Negotiable Instrument Act, 1881 to bring "stricter provisions for cheque bouncing and incentive for the payee who suffers&

Global investors` summit: Assam expects investments from Asean nations

Assam expects investments in Tourism, Information Technology, Agriculture, Food Processing, Energy and Pharmaceutical sectors from across the globe, especially Asean member-nations, in the state's first global investors' summit on February 3-4, 2018.

At a press conference here, Assam Chief Minister Sarbananda Sonowal on Friday also announced allocation of Rs 100 crore for impr

Cabinet clears bill to extend deadline for Delhi`s unauthorised colonies

A bill to give extension to the unathorised colonies in Delhi till 2020 was cleared by the Union Cabinet on Friday, Law and Justice Minister Ravi Shankar Prasad said on Friday.

The Cabinet, chaired by Prime Minister Narendra Modi, cleared a bill to further extend the deadline for unauthorised colonies in Delhi, maintain status quo with respect to encroachment or unauthorised developme

Britain` Swindon, hub of expat Goans `highly polluted`, says Parrikar

Britain is the most polluted country in Europe and its Swindon town, which has a sizeable population of Goan expats, is also "highly polluted", Goa Chief Minister Manohar Parrikar said on Friday.

He was speaking during a discussion in the assembly on a private members' resolution moved by former Congress Chief Minister Ravi Naik, seeking action against those responsible

RBI imposes Rs 5 cr penalty on Syndicate Bank

 The Reserve Bank of India (RBI) has imposed a penalty of Rs 5 crore on Syndicate Bank for non-compliance with its directions on "Cheque Purchase or Discounting, Bill Discounting, and Know Your Customer (KYC)" norms.

According to the RBI, the penalty was imposed on December 12, 2017 after "considering the bank's reply and oral submissions made in the personal h

84% manufacturing firms globally embraced software over hardware: Report

 With the device manufacturing industry embracing software over hardware as its primary business model, a new report said on Friday that 84 per cent of the organisations in the sector globally have already put software at its core in delivering services and generating revenue.

According to a report by global IT security firm Gemalto, nearly all (94 per cent) device makers have in

Railways to discuss structural, cultural reforms

The Indian Railways will hold a conclave on Saturday to discuss structural and cultural reforms and ways to increase its market share and revenue, a Railway Ministry official said on Friday.

The day-long event, titled Sampark-Samanvay-Samvad (connection, coordination and conversation), will also see discussions on changes in processes and ways to increase market share and revenue of t

202 railway stations sensitive, 106 covered by CCTV: Minister

The government on Friday said that 202 railway stations across the country have been identified as "sensitive" and 106 have been covered with CCTV cameras for surveillance.

"Based on the recommendations of a high level committee, 202 railway stations have been identified as sensitive for the purpose of installation of an Integrated Security System (ISS) to strengthen su

Exports rise to $26 bn in November

India's exports grew to $26.19 billion in November from $23 billion in October and $20.06 billion during the corresponding month of last year, official data showed on Friday.

According to the Ministry of Commerce and Industry, exports during last month exhibited a growth of 30.55 per cent on a year-on-year (Y-o-Y) basis.

"Exports during November 2017 have exhibited

Tobacco industry trumps as India court cancels stringent health labelling rules

NEW DELHI - An Indian court on Friday quashed federal rules that mandated stringent graphic health warnings on tobacco products, lawyers involved in the case said, in a decision seen as a major victory for the tobacco industry and a setback for health advocates.

India's Supreme Court last year ordered enforcement of the government's 2014 federal rules that req

Cabinet nod to amend Specific Relief Act for ease of business

 In a move to further ease procedures for doing business in the country, the cabinet on Friday approved a bill proposing to amend the Specific Relief Act, 1963, Law Minister Ravi Shankar Prasad announced here.

Briefing reporters here after a cabinet meeting, the Minister said that with the concerned bill slated to be tabled in the winter session of Parliament, he was unable to el

Government to reimburse MDR charges on small transactions

In a bid to encourage electronic payments, the central government will now reimburse the Merchant Discount Rate (MDR) applicable on transactions worth Rs 2,000.

According to the Minister of Electronics, IT and Law and Justice Ravi Shankar Prasad, the government will reimburse the MDR on conducted via debit cards, UPI and Adahar-based transactions.

The decision was taken by t

Railways to explore if a Rajdhani train can make round trip daily

The railways will explore if it is possible for a Rajdhani Express train to make a round trip within 24 hours with half-an-hour gaps for inspection at either end, to maximise utilisation of such rakes. This is one of the ideas that will be discussed at a day-long conclave -- 'Sampark, Samanvay evam Samvad' (connection, coordination and conversation) -- here on December 16.

The

`Goa exported 17.64mn tonnes iron ore in two years`

 While 32.29 million tonnes of iron ore was extracted from the 44 operational mining leases in Goa over the last two years, only 17.64 million was exported during the period, Chief Minister Manohar Parrikar told the state legislative assembly on Friday.

Parrikar, who is also the Goa's mines minister, said that leases of several mines were not being operated by their respectiv

ArcelorMittal to make auto steel in India in 3 years as car output booms: official

NEW DELHI  - India's state steel company will start producing automotive steel in a $1 billion partnership with ArcelorMittal in three years, a top government official said, helping cut imports of high-grade steel as the country revs up car manufacturing.

Steel Authority of India Ltd has approved entering into a "non-binding" agreement of terms on t

India raises import tax on cellphones, move to hurt Apple

NEW DELHI - India has increased the import tax on dozens of electronic products such as mobile phones and television sets, a government statement said, to help curb supplies from overseas and build up the domestic industry.

The rise in tax from 10 percent to 15 percent on handsets will make imports of phones - including most of Apple's iPhone models - more expensi

ArcelorMittal extends conversion date for USD 1bn bonds

The world's largest steelmaker ArcelorMittal today said it has extended conversion date for USD 1 billion mandatory convertible bonds. "ArcelorMittal announces the extension of the conversion date for the USD 1 billion privately placed mandatory convertible bond (MCB) issued on December 28, 2009 by one of its wholly-owned Luxembourg subsidiaries," the steel giant said in a stateme

India to exceed its RE target of 175 GW by 2022: Minister

Power Minister R.K. Singh has said that the country is well on track to surpass its renewable energy (RE) target of 175 GW by 2022 and would comfortably cross 200 GW. Further, India’s RE capacity would be 57 per cent of the total installed capacity by 2030, including hydropower, the Minister said. Emphasizing the importance of energy in a country’s economic growth, R.K. Singh said t

RBI slaps Rs 1 lakh fine on Radhakrishna Finance

The Reserve Bank of India has imposed a monetary penalty of Rs 1 lakh on Radhakrishna Finance Pvt. Ltd. for violation of various directions issued by central bank from time to time. A scrutiny of the company under section 45N of Reserve Bank of India Act, 1934 (the RBI Act, 1934) with reference to its financial position as on March 31, 2016 was conducted on February 16, 2017.

During t

Industry must help government to set up energy banks: President

President of India, Ram Nath Kovind has that the Government is committed towards sustainable growth of the economy, for which, achieving the target of 24x7 Power for All is imperative. Ram Nath Kovind, presided as the Chief Guest over the National Energy Conservation Day celebrations, he added that such a tall target can only be achieved by the cooperation of every individual in the society and

Strengthening banks most important agenda for next year: Finance Minister

Having implemented the Goods and Services Tax (GST), Finance Minister Arun Jaitley said strengthening the public sector banks is most important agenda for the next year, reported PTI. "There are important tasks when we look at the next year...fixing the banks and completing the unfinished task of strengthening the public sector banks (PSBs), I think, is unquestionably one of the most impor

SC extends deadline for Aadhaar linking till Mar 31, 2018

The Supreme Court on Friday extended the deadline for linking of Aadhaar to various government schemes, as also mobile phones and bank accounts from December 31 to March 31, 2018.

However, the Constitution Bench headed by Chief Justice Dipak Misra said that those who did not have an Aadhaar number but were opening bank accounts would have to furnish their enrollment numbers for the un

India`s first offshore wind projects auction for 5GW in 2018

India will invite bids for the first time to set up offshore wind power projects in the country with the government planning to auction for 5 gigawatt (GW) of capacity, New and Renewable Energy Minister R.K Singh said on Thursday.

Addressing the National Energy Conservation Awards event here with President Ram Nath Kovind as the chief guest, Singh also said that India will surpass its

Home Ministry sets new time deadline for ATM replenishment

 In view of spate of cash van robberies across the country earlier, the Union Home Ministry has proposed a new draft standard operating procedures (SOP) for replenishing ATMs, setting a deadline for 9 p.m. in urban areas, 6 p.m. in rural areas and 4 p.m. in Maoist-affected areas, an official said on Thursday.

The proposal has been sent to the Law Ministry for issuing the guidelin

DAC may clear all backlog by year end: Nirmala Sitharaman

Defence Minister Nirmala Sitharaman on Thursday said the Defence Acquisition Council (DAC) may clear all its backlog by the end of December.

Addressing the 90th Annual General Meeting of Ficci, she also said that government will allocate more funds for defence research and development in next budget.

Sitharaman, after taking charge of the crucial ministry in September this y