Economy

FIR against J&K Bank ex-chief, 23 others for Rs 1,100-crore fraud

According to an ACB release, officers of the bank’s Mahim branch in Mumbai and a branch in New Delhi allegedly sanctioned loans worth Rs 800 crore in favour of REI Agro based on “fake documents and in violation of the laid down banking procedure durin
 J&K Bank, ex chief, J&K Bank fraud, Kashmir Valley, Jammu, Kashmir, Non Performing Assets, NPA, industry news, banking news, FIR, News

Myths linked to nuclear energy should be busted: MoS Jitendra Singh

“I have been trying to sensitise states about nuclear energy, making them aware of its diverse benefits,” Singh said at the India Energy Forum 11th Nuclear Energy Conclave held here.

Myth, nuclear energy, MoS, Jitendra Singh, industry news, electricity generation, electricity  News

Air Traffic growth in September disappointing: DGCA Chief

Kumar said even though the September growth is disappointing, the domestic aviation industry had largely weathered the impact of the grounding of the beleaguered Jet Airways.

Air Traffic, Air Traffic growth, DGCA Chief, Civil Aviation, industry news, Jet Airways, SpiceJet, IndiGo  News

Ring duration: Trai views within 2 weeks as Airtel, Jio, Vodafone Idea and BSNL fail to reach consensus

Jio reiterated that the issue of ringing duration should be kept in forbearance and not regulated, which made Trai chairman RS Sharma to clarify that the authority was forced to intervene as operators

Ring duration, Trai, Airtel, Jio, Vodafone Idea, BSNL, consensus,  Telecom Regulatory Authority of India, DoT, department of telecommunications, MTNL, industry news

DMF funds for mineral-rich states grossly underutilised

Of the DMF collections, states have approved Rs 22,999 crore towards various projects, categorised as 'priority areas' like drinking water supply, education and healthcare and 'other priority areas' l

McNally creditor, insolvency petition, NCLT settlement, NCLT, industry news, Aditya Khaitan News

Watch Live: The Economist – India Summit 2019

Financial Express is live-streaming the event and you can watch it here or on our YouTube channel - https://www.youtube.com/channel/UCmk6ZFMy1CT80orXca4tKew/videos .

financial express News

India imposes anti-dumping duty on certain steel imports

JSW Steel Coated Products had moved a petition before the DGTR for imposition of the trade remedial measure on imports

India anti dumping duty, india imports, india garbafe, imports of galvalume steel products from China, india imports china, china steel, jsw steel, import taxes india, taxes on imports, duties on imports in india, JSW Steel Coated Products, JSW Steel, sajjan jindal, Directorate General of Trade Remedies, dgtr, india import aluminium, india import zinc, galvalume imports india, auto parts News

IMF slashes India’s GDP growth forecast from 7.5% to 6.1% in 2019

Moody’s Investors Service had last Thursday cut its forecast for India’s FY20 GDP growth by 40 bps to 5.8%, in what reflected a continuing trend of such downward revisions by prominent domestic an

Moodys on india, moody indian economy, economic slowdown india, india growth, india gdp, economic slowdown china, Moodys Investors Service, MIS, moody on india, imf india, world bank india, rbi repo rate News

Coal is still the mainstay, climate debate needs reformulation: Power minister RK Singh

The country is working to attain the intended nationally determined contribution (INDC) target of reducing the emissions intensity of its GDP by 33-35% by 2030 from the 2005 level, as promised in the

Economy News

Sitharaman allays investor community fears, says will ensure contracts are honoured

The recent decision of Andhra Pradesh to renegotiate the state’s power purchase agreements with renewable power producers had unnerved the investment community.

Nirmala Sitharaman, economy, india economy, growth, worrying fiscal situation, P Chidambaram, Arvind Subramanian, Foreign Institutional Investors, FII, inflation, government expenditure, investments, finance minister News

RCEP negotiators asked to settle issues by October 22

Trade ministers and negotiators of the 16 nations will have to present to their respective leaders which issue can or can’t be settled now so that appropriate announcement can be made at the leaders

RCEP, import duty India, South Korea, asean, india joining rcep, rcep talks, tpp, trade deficit News

Law agencies should have access to source of social media messages spreading rumour: Ravi Shankar Prasad

The issue of traceability was discussed in detail between WhatsApp and the government in July this year when the messaging app’s global head Will Cathcart came to meet Prasad.

social media messages rumour, fake viral messages, fake news, social media fake news, mobile india congress 2019, Ravi Shankar Prasad News

BPCL disinvestment to be cleared in 2 weeks; Cabinet puts stake sale in 5 PSUs on fast track

The threshold of minimum government holding for PSUs to be in ETF baskets is 52%. Bharat-22 ETF is a diversified index of 22 stocks, largely comprising PSU stocks.

PSU banks, PSU banks profit, PSU banks profit 2019, PSU banks treasury gain, psu disinvestment, psu crisis News

Spectrum auction this fiscal; pricing reforms in the works: Telecom minister

Going by global standards the price of `492 crore per MHz for 5G spectrum is on the higher side as the South Korean auctions which happened last year had the price at `130 crore per MHz.

Telecom Regulatory Authority of India, trai high reserve price spectrum, spectrum auctions 2019, spectrum prices, telecom minister Ravi Shankar Prasad. spectrum industry, pricing airwaves, India Mobile Congress 2019, 5g band in india, premium 4G spectrum News

How to make IBC fool-proof: Govt crowd sourcing for ideas as delays hit insolvency resolutions

The Insolvency and Bankruptcy Board of India has an electronic facility using which stakeholders can submit their feedback on even clauses or words of a particular regulation throughout the year.

Insolvency, E marketplace, toxic assets, delay in resolution, IBBI, e marketplace solution, e marketplace insolvency, insolvency and bankruptcy code News

Govt against attachment of insolvent firm’s assets once CIRP is completed

In its affidavit submitted on October 10, the MCA said once a resolution plan is approved by the NCLT, it is binding on all stakeholders.

JSW Steel, JSW Steel capex plan, steel prices, Bhushan Power and Steel, steelmaker News

Government to form group to study shortcomings of cooperatives: FM Nirmala Sitharaman

The idea is to amend specific Cooperative Acts in the winter session of the Parliament in December to prevent repetition of PMC like events in future.

Economy News

OECD proposal: Global tech firms’ tax liability here may rise

The proposal would be finalised by end of next year with formulae to calculate allocation of profits and corresponding taxing rights to countries and jurisdictions.

SEP criteria would determine ‘business connection’ of a company in India and whether it is liable to tax as a corporate entity and be covered under the rules of corporate taxation. News

RCEP Bangkok Ministerial: Talks on investment, e-commerce, trade remedies yet to be settled

Commerce and industry minister Piyush Goyal will attend the RCEP ministerial in Bangkok on October 11 and 12.

Economy News

PM-Kisan: No compulsory Aadhaar seeding for benefits till November 30

The farmers' data received from August 1 (about 1.35 crore, so far) will be considered for their first installment during August-November period.

Farmers have received about Rs 9,000 crore since August 1 when Aadhaar seeding was made mandatory. News

Liberal increase in DA for central government employees, pensioners-check details

The government said the combined impact on the exchequer on account of both DA and DR would be Rs 15,909 crore per annum and Rs 10,606 crore in financial year 2019-20 (for a period of eight months fro

Beginning January 2019, the government had raised the DA/DR to 12% from 9%. News

175 GW renewables by December 2022, clarifies government

The ministry of new and renewable energy (MNRE) clarified on Wednesday that the deadline for installing 175 giga-watt (GW) of renewable energy is December 31, 2022.

The renewable energy industry is one of the major FDI earners with the sector attracting $4.8 billion foreign capital since FY15. News

Uttar Pradesh to host brain-storming meet on RERA on November 1

The conclave, ‘Transforming Realty with RERA’, will be inaugurated by chief minister Yogi Adityanath and Union minister Hardeep Singh Puri and is likely to be attended by RERA chairmen of all stat

UP-RERA chairman Rajive Kumar said the objective of the one-day event is to find ways to strengthen the RERA Act. (Representational Image) News

Modi govt to offer Ayushman, Ujjwala benefits for PMAY users

The government will not just cover these beneficiaries under schemes like Ujjawala and Ayushman Bharat, but will also offer them solar energy run devices like solar cookers, etc as part of its efforts

Around 24.75 lakh houses have been occupied under PMAY (Urban) News
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