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

Private participation in Bharatmala project challenging: India Ratings

Owing to the stressed balance sheets of many infrastructure developers, the participation from the private sector for the government's ambitious Bharatmala project seems challenging, says India Ratings (Ind-Ra), reported PTI. For the Bharatmala Pariyojana project, the second biggest highway development programme after the National Highways Development Programme (NHDP), the government expect

Over 1,000 new FPIs registered with Sebi in 6 months of FY'18

Over 1,000 fresh foreign investors were registered with Sebi in April-September 2017-18, primarily due to their continued interest in the Indian capital markets, latest data from the regulator showed. This comes on top of close to 3,500 new foreign portfolio investors (FPIs) registering with Sebi in the past financial year. According to Sebi data, the number of FPIs with the regulator's app

Bids moderating now in mineral mine auctions: Secretary

After an aggressive phase of bidding for mineral blocks earlier, realism has set in and there is moderation now, Mines Secretary Arun Kumar said as per the PTI report. Replying to a question on the issue of high bids, he said: "There is always time of euphoria and there is always a time of realism. So, the realism has set in...on the whole, the bids are now moderating." Kumar was spea

`Banks opting to set up more currency recyclers, instead of plain ATMs`

 Banks are opting to set up multi-functional machines like currency recylers, instead of plain cash dispensing automatic teller machines (ATM).

Although the number of ATMs have gone up between September 2016 and 2017, the number of recyclers are on the rise, according to a senior official of the FIS payment solutions and services provider.

"Banks are taking a reloo

All transactions were fully disclosed, says Sinha on Paradise Papers

Union Minister Jayant Sinha on Monday defended himself through a series of tweets after his name appeared in the "Paradise Papers" leak.

Sinha said all transactions related to him which have been mentioned in the Indian Express investigation were "fully disclosed" to relevant authorities and were done in his "official capacity, not personal".

Th

202 railway projects report cost overrun of Rs 1.5 lakh cr

Railway projects account for over 60 per cent of the 331 central sector projects that are facing cost overrun of Rs 1.5 lakh crore due to various reasons. A total 202 projects of railways are facing total cost overrun of Rs 1.5 lakh crore, as per the flash report of the Ministry of Statistics and Programme Implementation for July, 2017. The statistics ministry monitors central sector projects e

Sharp decline, quick recovery defined Indian smartphone market

 The first three quarters of 2016 were going just great and smartphone players had raked in super profits right up to Diwali -- then demonetisation caught them by surprise, as it did others.

The note ban hit manufacturers across the spectrum -- especially domestic handset makers who primarily rely on cash sales in smaller cities and towns.

The subsequent cash crunch res

India Posts bank to have nationwide operations by April

India Posts Payments Bank services are expected to be available across the country by April, Communications Minister Manoj Sinha said according to the PTI report. "(India Posts) Payments Bank branches will be opened across 650 districts by around April. All these branches will be linked to rural post offices. This will be largest banking network in the country," Sinha said on the side

Finance ministry likely to hold meeting with bankers on November11-12

The finance ministry is likely to hold a meeting with top management of public sector banks on November 11 and 12 to discuss various issues, including bad loans and recapitalisation, PTI report said. The meeting assumes significance in the light of the recent government announcement of fund infusion in the public sector banks over a period of two years.

Last month, the government had

Keep ready sizeable amount, Supreme Court tells Jaypee

The Supreme Court on Monday told Jaypee Associates to keep ready a sizeable amount of Rs 2,000 crore before its next hearing as it refused to permit it to deposit a part amount of Rs 400 crore by Friday.

A bench of Chief Justice Dipak Misra, Justice A.M. Khanwilkar and Justice D.Y. Chandrachud asked the real estate major to keep ready the amount as company counsel Anupam Lal Das said

RBI to auction State Government sec worth Rs 7,500 cr

The Reserve Bank of India on Friday said the State Governments have offered to sell 3/10/15/20 Years of security by way of auction for an aggregate amount of Rs 7,500 crore. The auction will be conducted on the Reserve Bank of India Core banking Solution (E-Kuber) system on November 07, 2017, the RBI notified.

The Government Stock up to 10 per cent of the notified amount of the sale o

India Inc raises over Rs 36,000 cr via QIP in Apr-Sept

Indian firms mobilised over Rs 36,000 crore through issuance of shares to institutional investors during April-September period of the current fiscal, a 13-fold rise from the year-ago period. As per the latest data available with the Securities and Exchange Board of India (Sebi), capital garnered by the listed companies through the Qualified Institutional Placement (QIP) route stood at Rs 36,65

Investment commitment of $11.25 bn from private sector at World Food India

The three-day mega food fair ended on Sunday with investment commitment of worth $19 billion including $11.25 billion from private sector in 50 MoUs signed while many participants said it would help bringing focus on India's food processing sector.

During the World Food India conference, delegates from across the states and over 60 countries held meetings over opportunities and ex

India should aim for quantum jump in agro-processing: Piyush Goyal

 India should not get satisfied with 10 to 20 per cent growth rate in agro-processing but should aim for a quantum jump to truly improve lives of the country's farmers, Railways Minister Piyush Goyal said on Sunday.

"I think we should not rest on the laurels of numbers. 10 or 20 per cent cent growth in agro-processing or 8 per cent growth in credit finance frankly doesn&

Pradhan takes part in cyclothon to promote fuel conservation

Terming fuel conservation a collective responsibility, Petroleum Minister Dharmendra Pradhan on Sunday flagged off and, thereafter, also took part in an awarenes promoting "cyclothon" event here that saw participation of around 5,000 people.

With a direct relation between cycling and conserving transport fuel, the Petroleum Conservation Research Association (PCRA) had organi

Work begins on Rs 946 cr IMAGE Tower in Hyderabad

In a move to make Hyderabad a key destination of animation, gaming and visual effects industry, the Telangana government has embarked on developing an exclusive IMAGE tower "as a one stop shop" for the sector at an investment of Rs 946 crore.

The IMAGE Tower is being built by the state with the help of real estate developer Salarpuria Sattva in the Public Private Partnership

No new project without land acquisition: Railways

To stop delays in project completion, the Indian Railways has decided that no new lines will be built without completion of land acquisition, officials said.

A railway official told IANS that the decision was taken a meeting last week and a letter was sent to the General Managers of all railway zones on October 30. 

A copy of the letter accessed by IANS reads: "The