Government puts off 5th round of coal mine auction

The government has deferred e-auction of the fifth tranche of coal mines for the steel sector and any further development will be intimated in due course, reported PTI. "With reference to the fifth tranche of coal mines auction, bidders may kindly note that following events (e- auction for the qualified bidders scheduled between July 7-14, 2017) shall not take place as per the schedule,&qu

Subhash Garg nominated on RBI Central Board

The government has nominated Subhash Chandra Garg, Secretary in the Department of Economic Affairs in the Ministry of Finance, to replace Shaktikanta Das as the Director on the Central Board of Directors of the RBI.

The nomination came into effect from July 12, the Reserve Bank of India said in a statement here on Friday. Das superannuated as the Economic Affairs Secretary on May

IBM, Automation Anywhere join hands for data-intensive processes

 IBM and Automation Anywhere, a developer of robotic process automation software, on Friday collaborated to offer solutions to help industries streamline their data-intensive processes such as banking, financial services, insurance and health care.

As part of the agreement, the two companies plan to integrate Automation Anywhere's Robotic Process Automation (RPA) platform --

Railways to fast track plans for robust infra: Suresh Prabhu

The Indian Railways has said that the Government has sanctioned plans for doubling and tripling of 16,500 km of railway tracks in few years as against only 22,000 km in last 70 years to fast-track creation of a robust infrastructure. Commenting on the issue, Union Minister Suresh Prabhu told the media, "We have decided to create an infrastructure at a much faster pace...16,500 km of doubli

Darjeeling planters seek financial support amid ongoing shutdown

Faced with an "unusual situation" arising out of the indefinite shutdown in the northern West Bengal hills, Darjeeling's tea planters have sought "financial support" from the central government, according to a representative body.

All plucking and manufacturing operations in the 87 gardens in the Darjeeling hills have been suspended since June 9 and the es

0.02% Div announced by Birla Sun Life Mutual Fund

Birla Sun Life Mutual Fund has announced 0.02 per cent dividend under dividend payout option of scheme named as “Birla Sun Life Cash Plus - Retail Plan” on the face value of Rs 100 per unit. The record date for the dividend was July 10.The latest NAV of the scheme is Rs 163.69.

The investment objective of the open ended liquid fund scheme is to provide reasonable returns a

Non-exec chairman can be part of banks audit committee: RBI

Reserve Bank of India said the non- executive chairman of a bank can also be nominated to the audit committee of board of directors, reported PTI. Earlier, any one of the non-executive/non-official directors was supposed to chair the audit committee of the board of the directors of a public sector bank. In 2015, the government had bifurcated the posts of chairman and managing directors in Publi

Nutraceuticals market may grow to $10 bn by 2022

Indian nutraceuticals market is expected to grow at a compounded annual growth rate of 21 per cent and reach USD 10 billion by 2022 from USD 4 billion now, according to a report brought out by MRSS India for industry body Assocham. The growth in nutraceuticals - food and drinks which have potential health benefits - is seen largely driven by the modern day's consumer lifestyle that is impac

Coal consumption growth in India may remain tepid:India Ratings and Research

Growth of coal consumption in India may remain tepid as plant load factor of thermal power plants (PLF) is likely to drop in the current fiscal, India Ratings and Research said as per the PTI report. The credit rating agency said it expects the PLF to remain at sub-65 per cent in the medium term. "Ind-Ra expects domestic coal consumption growth in India to remain tepid on account of an exp

Most Indians prefer mobile apps for telecom services: Survey

Mobile apps are becoming the most preferred way for getting telecom services for customers while local mobile retailers and company stores are falling out of favour, a new survey revealed on Thursday.

Conducted by mobile services aggregator 10digi in the Delhi-NCR region, the survey found that 23 per cent of customers regarded websites as second preference for them to get telecom serv

Housing societies' services not to get costlier under GST: Government

 Services provided by housing societies across the country will not become expensive under the Goods and Services Tax (GST) system, the government said on Thursday.

"There are some press reports that services provided by a Residents Welfare Association (RWA) will become expensive under the GST. These are completely unsubstantiated," a Finance Ministry statement here sai

Gartner cuts 2017 global IT spend growth estimate to 2.4%

Global IT research firm Gartner today further lowered its 2017 IT spending growth estimate to 2.4 per cent from the 2.7 per cent earlier on worries on digitisation. The firm had first predicted for a 3 per cent growth in worldwide IT spends, which got revised down to 2.7 per cent in January this year. The downward revision in growth estimates comes amid growing anxieties over the future of the

Government planning to improve connectivity to hilly areas: Report

The Indian Government has said that it is likely to improve air connectivity to the country's hilly areas and islands by use of smaller aircraft. As per reports, the Centre is likely to ease norms for bidding under its regional connectivity scheme (RCS).The government has categorised these regions as "high priority areas" for enhancing connectivity.

The RCS, also known a

Deskera partners with NASSCOM for 10,000 start-ups program

Deskera, a global provider of cloud-based software solutions for small and mid-size businesses, has partnered with the National Association of Software and Services Companies (NASSCOM) to support their 10,000 Start-ups initiative as a sponsor of their start-up kit. In order to support start-ups in the NASSCOM program, Deskera software will now be included in the complimentary start-up kit provi

Two airlines to commence operations under low-cost scheme

The Civil Aviation Ministry has said that Air Odisha and Air Deccan are likely to start operations under the low-cost flying scheme by September end after they informed the government about having acquired aircraft for the purpose. As per reports, the two airlines were among five operators which were awarded a total of 128 routes in March under the regional connectivity scheme, also known as UD

Entire railway system to be brought on digital platform: Suresh Prabhu

Railway Minister Suresh Prabhu has said that the Government is making an effort to bring the entire railway system on digital platform to reduce costs. "Efforts are being made to bring entire railway system on integrated digital platform," the Minister said after launching the RailCloud, a virtual server with an inbuilt security system that will enable faster connectivity at a reduced

Trai issues draft design of public wifi network system

Trai issued draft design of public wifi network project that aims to provide low-cost wireless Internet services, reported PTI. Under the proposed system, any entity with valid pan number will be able to set up public data offices (PDOs), similar to PCOs of yesteryears, for providing public wifi hotspots, as per the draft released by Trai. The regulator has invited proposals from all entities w

Cement prices to increase by 7% on QoQ basis: Reports

A report has said that average cement prices are expected to rise by 6 per cent YoY and 7 per cent on QoQ basis across the country despite volume decline in the southern and central regions. As per reports, the eastern region is likely to see a strong growth in demand for the key building material. Commenting on the issue, an ICICI Securities Official told the media, "Average pan-India cem

India Inc. calls for lending rate cut to boost industrial output

India Inc. on Wednesday called for an easing of the monetary policy to give a boost to the country's industrial output.

Corporate India's calls for a reduction of key lending rates comes after the Index of Industrial Production (IIP) released by the Central Statistics Office (CSO) showed that on a sequential basis, the output rose slower than the revised estimates for Apr

Road projects worth Rs 2 lakh crore in north-east by 2019: Nitin Gadkari

The Centre would initiate road projects in the north-east with an estimated expenditure of Rs 2 lakh crore by 2019, Road Transport and Highways Minister Nitin Gadkari announced on Wednesday.

Gadkari said that while projects with expenditure of Rs 1.5 lakh crore would be carried out through the National Highways and Infrastructure Development Corporation Ltd. (NHIDCL), state Public Wor

Domestic shipping should be at par with road transport: Experts

 Domestic shipping (coastal and inland water transport) should be at par with the road transport sector in all aspects so as to take away bulk of the cargo movement from the trucks, experts said here on Wednesday.

"The coastal shipping is viable and does not need any viability gap funding. What it needs is the parity in regulations vis-a-vis the road transport sector,"

Railways system being put on digital platform: Suresh Prabhu

 Railway Minister Suresh Prabhu on Wednesday said that efforts are being made to bring the entire railway system on digital platform to reduce costs.

"Efforts are being made to bring entire railway system on integrated digital platform," Prabhu said at a press confernce here after launching the RailCloud, a virtual server with an inbuilt security system that will enable

Cabinet approves road linking Manipur with Myanmar

The Union Cabinet on Wednesday approved upgradation of a 65-km-long National Highway in Manipur to boost the state's connectivity with south and southeast Asia via Myanmar.

Road Transport and Highways Minister Nitin Gadkari told reporters here that NH-39 from Imphal to Moreh near the Myanmar border would reduce travel time from three-and-a-half hours to one hour and 45 minute

Assocham seeks review of GST rate on bio-fertilisers

Industry body Assocham today asked the government to review 18 per cent GST rate on select agriculture inputs like bio-fertilisers, bio-pesticides and organic manures so as to compress the use of chemical fertilisers. In a letter to Finance Minister Arun Jaitley, the industry body said a higher GST on bio-fertilisers, organic manures will promote the use of chemical fertilisers and impact publi