Suresh Prabhu unveils Antyodaya rail coaches for common man

Equipped with cushioned seats, aluminium composite panels, and LED lights, the Antyodaya Express, a new fully unreserved train for the common man with specially designed colourful coaches was unveiled today by Railway Minister Suresh Prabhu.

Ready to be pressed into service on busy routes, the first Antyodaya Express will be launched between Mumbai and Tatanagar, and the second will b

Government launches free anti-virus for PC, mobile phones

The IT Ministry today launched botnet cleaning and anti-malware analysis centre for Rs 90 crore to provide free anti-virus to computers and mobile phones for removing malicious softwares. "I would like ISPs (Internet Service Provider) to encourage their consumers to come on board, there is a free service available.

Come and use it in the event some malware has sneaked in to the s

Air services agreement between India and Greece get Cabinet nod

The union Cabinet, chaired by the Prime Minister Narendra Modi, on Wednesday approved the signing of air services agreement (ASA) between India and Greece. “The agreement has the potential to spur greater trade, investment, tourism and cultural exchange between the two countries bringing it in tune with the developments in the civil aviation sector,” according to a Cabinet statement

CCEA okays enhancement of solar parks capacity to 40,000 MW

The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved the enhancement of capacity from 20,000 MW to 40,000 MW of the scheme for development of solar parks and ultra mega solar power projects.

“The enhanced capacity would ensure setting up of at least 50 solar parks each with a capacity of 500 MW and above in various parts of the country. Smaller parks in Himalay

Centre clears Rs 5,700-cr hydro project to be set up in Nepal

The government today approved a 900 MW hydro power project to be set up in Sankhuwasabha district of Nepal at a cost of Rs 5,723.72 crore. The decision to approve the Arun-III project was taken at a meeting of the Cabinet Committee on Economic Affairs headed by Prime Minister Narendra Modi..

“The Cabinet today approved setting up of Arun-III project at an estimated cost of Rs 5,

Portfolio managers` assets swell to Rs 12 lakh cr in January

Wealthy investors continued to repose faith in portfolio managers or advisory services as the assets under management of such entities rose to about Rs 12 lakh crore in the Indian capital market at January-end, reported PTI. It also marks the 13th consecutive monthly rise in asset base of portfolio managers.

According to the Securities and Exchange Board of India (Sebi), total assets

Snapdeal to lay off 600 people over next few days

SoftBank-backed Snapdeal will lay off around 600 people across its e-commerce, logistics and payments operations over the next few days, reported PTI. According to sources, the company started the process last week and will lay off 500-600 people across Snapdeal, Vulcan (logistics) and Freecharge (digital payments business).

The sources added that the reduction will include employees

Government clears coastal surveillance project

The Defence Ministry has cleared a project to set up 38 radar stations to significantly ramp up surveillance of the country's over 7,500 km long coastline.

The Defence Acquisition Council, chaired by Defence Minister Manohar Parrikar, gave in-principle approval for the Rs 800-crore project. Four mobile surveillance stations will also be set up and they will be integrated with the

South Eastern Railways scores highest among 16 railway zones: Reports

The South Eastern Railway has said that it has scored the highest among 16 railway zones in performance rating by the Ministry of Railways across different sectors like freight loading and passenger traffic.

Commenting on the issue, SER spokesman Sanjoy Ghosh told the media, “The SER topped the chart with 75.48 per cent marks as per performance from April, 2016 to December, 2016

IATA launches e-billing solution for airport operators

The state-owned AAI, along with International Air Transport Association (IATA) have launched its e-billing solution for airport operators and air navigation services providers across the world, said media reports.

As per reports, developed in-house, the electronic billing solution for data, e-invoicing and collection of tariff from the airlines is being used by the AAI for several yea

Railways finalises DPR for semi-high speed rail routes

The Indian Railways has said that it has finalised the detailed project report (DPR) for an ambitious project aiming at running trains at 160 kmh on two busy corridors. As per reports, New Delhi-Howrah and New Delhi-Mumbai corridors would be upgraded to run trains at speed of 160 kmph as part of 'Mission Raftaar' launched by railways.

'Mission Raftaar' aims to reduce t

Industry relieved that Jio will start charging: COAI

Cellular operators' association COAI expressed relief that newcomer Reliance Jio has announced "price points" for data services post April 1, which although "aggressive" will not bleed the industry, reported PTI. The Cellular Operators Association of India (COAI) said the pricing along with customer experience determined by a telecom network's ability to take data tr

Future of real estate sector is in affordable housing: M. Venkaiah Naidu

Union Minister M. Venkaiah Naidu on Tuesday urged real estate developers to take up affordable housing projects in a big way while stressing that the future of the real estate sector lay there.

"The government's focus on ensuring Housing for All including the Middle Income Groups offers immense opportunities both at the bottom and the middle of the pyramid which needs to be s

Corporate bonds to fill void as government cuts borrowing: SEBI

 As the government has been reducing its borrowing programme, the vacuum is going to be filled by corporate bonds, a senior SEBI official said on Tuesday.

"As the Centre's borrowing programme is going to come down, the space is going to be taken over by corporate bonds," Securities and Exchange Board of India (SEBI) Member G. Mahalingam said here.

"As

Passengers to grade Rajdhani, Shatabdi trains on cleanliness

Passengers will now be involved in judging cleanliness level of popular trains including Rajdhani, Shatabdi and Duronto as well as major stations across the country. Focusing on cleanliness and hygienic conditions on premises, which has been a problematic area for it, the Railways will undertake a detailed survey cum audit of 407 busy stations and about 200 trains shortly.

A passenger

India Ratings and Research maintains negative outlook on infra sector for FY18

India Ratings and Research (Ind-Ra), a leading rating agency, has maintained a negative outlook on the infrastructure sector for FY18, albeit with revised outlooks for a couple of sub-sectors. The increase in receivables position of wind power plants limited the headroom available to handle low wind patterns; hence, Ind-Ra has revised wind energy’s outlook to negative for FY18 from stable

M&A and InvITs in infra sector to gain traction in 2017: India Ratings and Research

Infrastructure deals particularly in road sector in the form of Infrastructure Investment Trusts (InvITs) is likely to gain traction in 2017, says India Ratings and Research (Ind-Ra). The agency estimates Rs 0.4 trillion of funds to be raised by infrastructure sector from 25 major mergers and acquisitions (M&A) and InvITS in 2017.

While this could support several cash strapped inf

Medical tourism will drive India's pharma market: Study

Indian pharmaceuticals market is expected to touch USD 55 billion by 2020 in which medical tourism would be a major growth driver, according to a latest ASSOCHAM-IITTM joint study. The year 2015 witnessed the growth of 140 per cent of foreign tourist`s arrival on medical visa from the year 2013, where more than 50, 000 people visited India on medical visa.

This number rose to approx 1

Indian pharma industry to reach $55 bn in 3 years: Study

Indian pharmaceuticals market is expected to touch USD 55 billion by 2020 from the current level of USD 36.7 billion in 2016 growing at a compound annual growth rate (CAGR) of 15.92 per cent, according to a latest ASSOCHAM-IITTM joint study. Indian pharmaceuticals market increased at a CAGR of 17.46 per cent during 2005-16 with the market increasing from USD 6 billion in 2005 to USD 36.7 billio

Government spends Rs 153.5 cr as reward to boost digital payment

In a bid to make digital payments a mass movement in India, the government of India has rewarded money worth over Rs 153.5 crore to nearly 10 lakh citizens, according to latest data published by the NITI Aayog. It has been 58 days since the launch of NITI Aayog’s two incentive schemes – Lucky Grahak Yojana and Digi Dhan Vyapar Yojana to promote digital payments and the public respon

RBI Mumbai office closed today

The RBI said that its Mumbai offices will remain closed on February 21 on account of Municipal Corporation elections in Greater Mumbai, Thane and Ulhasnagar. In exercise of powers under Section 25 of the Negotiable Instruments Act, the Maharashtra Government has also declared February 21 as public holiday within the jurisdiction of 11 Zilla Parishads and 118 Panchayat Samitis under these Zilla

Government approves construction of 90,000 houses under PMAY: Reports

The Indian Government has said that it has approved construction of over 90,000 more affordable houses for the urban poor under Pradhan Mantri Awas Yojana (Urban) with an investment of Rs 5,590 crore. As per reports, the central assistance for construction of these houses would be to the tune of Rs 1,188 crore.

Commenting on the issue, a Government Official told the media, "The M

Niti Aayog wants Railways to link all districts: Reports

Government think-tank Niti Aayog has said that it wants the Railways to prepare a plan similar to Pradhan Mantri Gramin Sadak Yojana (PMGSY) and National Highways Development Programme (NHDP) to link districts which are not on rail map. Commenting on the issue, a senior Government Official told the media, "We need schemes like NHDP, PMGSY in Railways also.

Even today, some parts

DMRC unveils park made of waste material

The Delhi Metro Rail Corporation (DMRC) has said that it has unveiled a one of a kind park which is adorned with artistic installations built with waste material from Metro construction sites and is mostly powered by the solar energy. Commenting on the issue, a DMRC Official told the media, "The main highlights of the park are the artistic installations created from waste materials generat

Sebi eases norms for MF investments in derivatives

Existing mutual fund schemes will not require approval of a majority of unit holders to invest in derivatives segment provided the investors are given the exit option, Sebi said according to the PTI report. Among other conditions, the relaxation, effective immediately, would be in place only if the mutual fund scheme concerned provides the investors 30 days time to exit the scheme without any c