RBI to sell 7 state government securities for Rs 8,900 cr on May 09

The Reserve Bank of India on Friday said it will auction seven state government securities for Rs 8,900 crore on May 09, 2017. “The auction will be conducted on the Reserve Bank of India Core banking Solution (E-Kuber) system on May 09, 2017,” RBI said in a notification.

Both competitive and non-competitive bids for the auction should be submitted in electronic format on t

Mutual Funds` asset base surpasses Rs 19 lakh cr mark

The mutual fund (MF) industry's asset base has crossed the Rs 19 lakh crore mark in April on the back of fresh inflows in equity, debt and money market segments.

The assets under management (AUM) of the MF industry, comprising 42 players, rose to an all-time high of Rs 19.26 lakh crore at the end of April from Rs 17.55 lakh crore at the end of March, as per the data from Associati

Volatile coking coal prices may put pressure on steel sector spreads: Ind-Ra

The volatility in input cost, mainly coking coal prices is likely to keep the steel sector spreads (difference between price and raw material cost) under pressure in FY18, says India Ratings and Research (Ind-Ra).

According to Ind-Ra, the price of coking coal, a key raw material restarted its up move in April 2017, after softening from the elevated levels of November 2016. Ind-Ra beli

DIPP, WIPO to set up technology and innovation support centers

The Department of Industrial Policy and Promotion (DIPP) and World Intellectual Property Organization (WIPO) have signed an agreement to establish technology and innovation support centers (TISC), according to an official statement released by the ministry of commerce & industry.

WIPO’s Technology and Innovation Support Centers (TISC) program provides innovators in developin

Finance Minister asks ADB to reduce time lag in loan approval and disbursal

India has urged the Asian Development Bank to reduce the time it takes to approve a loan as well as to disburse as the developing countries in the Asian region need to build their infrastructure and increase social sector spending.

Speaking at the business session of the ADB Board of Governors, Finance Minister Arun Jaitley also asked the multilateral lender to set up a regional hub i

Government begins multiple waterways transportation in WB: Reports

The Indian Government has said that it has started integrated cargo transportation along multiple waterways, with a cement consignment from the banks of Rupnarayan in West Bengal to Bhagalpur, Bihar.

Commenting on the issue, a Ministry of Shipping Official told the media, "MV VV Giri, a vessel of the Inland Waterways Authority of India (IWAI) began a landmark pilot movement on Ap

Government to provide 5 crore LPG connections to poor by 2019: Reports

The Indian Government has said that it is planning to raise the target for Ujjwala, the flagship social welfare scheme for providing free LPG connection to 5 crore poor households by 2019. As per reports, the Government has proposed to invest nearly Rs 30,000 crore on creating import and distribution infrastructure for widening the clean fuel coverage in the country.

The proposal is b

Prabhu lays foundation of new rail line between Assam, Arunachal

Railways Minister Suresh Prabhu on Sunday laid the foundation stone for a 26-km-long new broad gauge railway line from Assam's Murkongselek to Arunachal Pradesh's Pasighat while also announcing surveys for seven new broad gauge railway lines in the latter state.

Laying the foundation by remote through video link from Northeast Frontier Railway (NFR) headquarters here, he

Create SAFs to revive NPAs: Assocham

 A leading industry body on Sunday advocated the formation of 'Stressed Assets Funds' (SAFs) to revive non-performing assets (NPAs) in the banking system.

The formation of SAFs will complement the recent steps taken by the government and the Reserve Bank of India (RBI) to tackle stressed assets, the Associated Chambers of Commerce of India (Assocham) said in a statem

India assists Mauritania with $65.68 mn electrification project

Despite very low trade between India and Mauritania, New Delhi has approved letters of credit worth $65.68 million for a solar-diesel hybrid rural electrification project in the north African country, the Embassy of Mali, which is also accredited to the country, has said.

The aid, which is in line with India's policy of assisting African countries, has also another two lines

All states should have at least one NIELIT: Prasad

Aiming to make the nation digitally more vibrant, IT Minister Ravi Shankar Prasad on Saturday urged that all states should have at least one National Institute of Electronics and Information Technology (NIELIT).

The NIELIT is an autonomous scientific society under the Ministry of Electronics & Information Technology to carry out human resource development and related activiti

Madras Atomic Power Station unit 2 to restart on Monday

 The second 220 MW unit of the Madras Atomic Power Station (MAPS), run by Nuclear Power Corporation of India Ltd (NPCIL) at Kalpakkam near here, is expected to restart operations on May 8, a senior official said.

The Unit is under annual maintenance shutdown since March this year.

Speaking to IANS about the 220 MW Unit II, the Station Director at MAPS R. Satya

Kudankulam Unit-II shut down due to water, steam leakage

The second unit of the Kudankulam Nuclear Power Project (KNPP) has been shut down due to water and steam leakage, an official said on Saturday.

The plant's operator, Nuclear Power Corporation of India Ltd (NPCIL) said the Unit-II is likely to restart on May 11.

"The unit was shut down due to steam and water leakage. We have to first cool the reactor and th

India ready to lead animation industry: Expert

India boasts of all the factors necessary to emerge as the leader in animation for the media, education and entertainment industry, said a well known animation expert here on Friday.

While inaugurating the "Toonz Animation Masters Summit 2017", Fred Wang Cheung Yue, Honorary Vice President of the China Film Foundation, said India had huge creative talent, distribution n

MoUs worth Rs 2 lakh crore signed at summit

Road Transport and Highways Minister Nitin Gadkari on Friday stressed the need to integrate different modes of transport and said 34 MoUs worth over Rs 2 lakh crore were signed at a transport and logistics summit here.

Speaking at the end of the three-day event, Gadkari said there was an urgent need to bring down logistics cost in the country to globally comparable rates to achie

2.2 crore LPG connections given to BPL women

Petroleum Minister Dharmendra Pradhan on Friday said over two crore LPG connections have been provided to women below the poverty line (BPL) under the Pradhan Mantri Ujjawala Yojana (PMUY).

"Under the scheme, which took off on May 1, 2016, we had a target of providing LPG connections to 5 crore BPL women within three years. In the first year the target was 1.5 crore. Today i

Minister questions open handling of coal at Goa port

Open handling of coal at Goa's Mormugao Port Trust should be reviewed because of the pollution it causes, said Town and Country Planning Minister Vijai Sardesai in Friday.

Emerging from a meeting with Chief Minister Manohar Parrikar at the state Secretariat, Sardesai of the Goa Forward party, a partner of the ruling alliance, said that the issue of coal pollution was discussed at

Fund-raising via NCD dips 24% to Rs 29,328 cr in FY17

Indian companies raised Rs 29,328 crore by issuing non-convertible debentures (NCDs) to retail investors in 2016-17 to meet their business requirements, a plunge of 24 per cent from the preceding year. In 2015-16, they had mobilised Rs 38,812 crore through this route, according to the latest data with the Securities and Exchange Board of India (Sebi). Overall, in terms of volume, there were 15

Air Cargo sector to grow at 9% in next few years: Aviation Minister

Civil Aviation Minister Ashok Gajapathi Raju said that the air cargo sector is likely to grow at nine per cent over the next few years. Raju said this while delivering the key note address at the India Integrated Transport & Logistics Summit 2017. He disclosed that the sector had grown by seven percent in the last decade. The minister elaborated that erection of logistic parks and regional

Over 2 lakh mobile towers set up in 9 months

The government has set up more than 2 lakh mobile towers in nine months, Communications Minister Manoj Sinha said here.

The minister also reiterated about the government's recent initiative to check the mobile tower radiation to allay fears about its adverse effect on health.

The minister was speaking to Zee Regional channels' CEO Jagdish Chandra in the "A DIALO

Rupee continues losing spree against greenback as Fed turns hawkish

The Indian Rupee extended losing streak against the greenback on Friday amid sustained fund outflows by foreign funds and importers due to strong demand for the American currency. The US dollar was boosted by the Federal Reserve’s hawkish policy statement as the US central bank kept interest rate unchanged, but hinted that it was still on track for rate hike in June later this year. Furth

Government signs MoAs to purchase 1000 MW wind power: Reports

The Indian Government has said that it has signed a Memorandum of Agreements (MoAs) for purchase of 1,000 MW wind power under its first wind auction scheme. Commenting on the issue, Ministry of New and Renewable Energy (MNRE) told the media, "MoAs for purchase of 1000 MW wind power under MNRE's first wind auction scheme were signed here today between PTC India, the trading company, and

Government proposes national no-fly list for unruly passengers

The central government on Friday proposed a national no-fly list for unruly passengers and has called for the views of all stakeholders on this.

According to the Ministry of Civil Aviation, the proposal for public consultation envisages a flying ban in the time range of three months to two years or beyond depending upon different levels of misdemeanour.

The new rules were an

Government signs MoAs to purchase 1000 MW wind power: Reports

The Indian Government has said that it has signed a Memorandum of Agreements (MoAs) for purchase of 1,000 MW wind power under its first wind auction scheme. Commenting on the issue, Ministry of New and Renewable Energy (MNRE) told the media, "MoAs for purchase of 1000 MW wind power under MNRE's first wind auction scheme were signed here today between PTC India, the trading company, and

Railways targeting Rs 40,000 cr revenue in ten years: Reports

The Indian railways has said that it has spelt out a target of Rs 40,000 crore revenue from monetising its soft assets in the next 10 years. As per reports, in a two-pronged strategy, the railways aims to increase earnings through traditional as well as non-traditional sources, while at the same time reducing expenditure. Commenting on the issue, Railway Minister Suresh Prabhu told the media, &