UCO Bank declares Yash Birla wilful defaulter, puts notice with photo

In a master circular on July 1, 2015, the Reserve Bank of India (RBI) had said no additional facilities should be granted by any bank or financial institution to listed wilful defaulters.
Banking & Finance News

Good News! Take-home salary of nearly 4 crore workers set to rise as ESIC contribution cut

ESI scheme being contributory in nature, all the employees in the factories or establishments to which the Act applies shall be insured in a manner provided by the Act.

Centre lowers mandatory ESIC contribution News

Agri-rural issues top agenda for NITI Governing Council meeting

The meeting, to be held at Rashtrapati Bhavan, would also be attended by lieutenant governors of Union territories, several Union ministers and senior government officials. This will be the first gove

The meeting, which is to be held on June 15, would deliberate on measures to address pressing issues such as drought situation, rain-water harvesting and structural reforms in agriculture News

Major hurdle in flexible power generation scheme rollout removed

The power ministry, in April 2018, had allowed thermal power generation companies (gencos) the flexibility of using renewable energy sources to meet their contractual generation obligations.

Power procured through the scheme would now qualify for meeting renewable purchase obligations News

Centre to soon decide on Huawei participation on 5G rollout

The source further said a decision has to be taken in India’s interests keeping in view the country’s capabilities, commercial and strategic requirements.

The trials for 5G are set to commence by the end of this month News

Resignations by auditors of listed corporates continue unabated, 14 firms quit so far in 2019

Resignations by auditors of listed corporates continue unabated with as many as 14 firms losing their auditors so far in 2019 for reasons varying from lack of corporate governance in the firms to the

On resigning, the auditor is required to file a return in e-form ‘ADT-3’ with the RoC concerned and is required to furnish the reasons for the resignation. (Representational image) News

Arvind Subramanian’s GDP claims: PMEAC to issue point-to-point rebuttal

The council not just questioned the methodology used by Subramanian to buttress his claim but also rejected the notion that views of experts were not taken into account while changing the methodology

But using ‘cross-country regressions to estimate GDP is a most unusual exercise News

Green energy push: SECI Solar auctions witness intense aggression by developers, tariff of Rs 2.54 per unit discovered

Though the latest tariff is higher than the all-time low solar rate of Rs 2.44 per unit, it is still lower than the weighted average solar tariff of Rs 2.73/unit discovered in calendar year 2018 (vs `

Though the latest tariff is higher than the all-time low solar rate of Rs 2.44 per unit News

Budget 2019: FM Sitharaman indicates agriculture, rural economy and industry to be focus areas

Union Budget 2019 India: The Modi government faced stringent criticism from the Opposition for its handling of farm distress before the general election.

Budget 2019 India: Finance Minister N Sitharaman focussed on measures to boost economic and social infrastructure of the rural sector News

GST rates: Centre to resist demand for pruning 28% slab

Two important items for which a rate cut to 18% has been sought are two wheelers and cement, for which the annual revenue impacts are seen to be Rs 8,400 crore and Rs 12,000 crore respectively.

A need to spur consumption, given the slowing down of economic growth, is being flagged by those who advocate the GST rate reductions. News

Steel cost of engineering exporters to drop

Engineering goods exporters complain that local steel producers are charging them 15-20% more than the price at which the latter are shipping out to other countries.

For its part, the steel industry on Tuesday demanded that a 25% safeguard duty on ad valorem basis be imposed on six product categories News

NHAI sets all-time high building target of 4,500 km for 2019-20

The source said though some banks are not still forthcoming to fund projects under HAM, 105 among 124 projects awarded thus far under the route have achieved financial closure.

The authority is projected to get budgetary support worth around Rs 37,000 crore in the current fiscal. (Representational image) News

Govt acts tough, dismisses 12 senior IRS officers for corruption

At least twelve Indian Revenue Service (IRS) officers have been removed from service recently in the light of serious corruption charges against them, official sources said.

The first Narendra Modi government made an attempt to make use of this rule but it could get only about 230 officers to leave government service before their scheduled superannuation (PTI File photo) News

Under pressure, govt reaffirms pledge to statistical autonomy

MoSPI had last month said only 16.4% of the companies in the database of service-sector firms are either closed or non-traceable, against 38.7% reported by sections of media, citing the NSSO report on

The ministry also said initial estimates of GDP tend to be conservative and the revision occurs when data coverage from administrative sources improves over time and get well documented. News

Modi’s plan to tackle job crisis in India

Panel for jobs and skill development set up; states also to step up hiring

Job creation, jobs in india, jobs vacancy, Narendra Modi, Modi 2.0 Cabinet,  BJP, Union Public Service Commission, Staff Selection Commission, skill development,  railway recruitment, railway jobs News

Jagan Mohan keeps promise, unveils Rs 13,000 crore DBT scheme for farmers

Under the scheme, all farmers of the state with land patta passbook will get Rs 12,500 per annum in their bank accounts, irrespective of size of land holdings.

YS Jagan Mohan Reddy, DBT scheme for farmers, DBT scheme for Andhra Pradesh, Annadata Sukhibhava scheme, PM-Kisan scheme, narendra modi,  News

Export credit: Decline in loans to exporters a concern, says Piyush Goyal

Various departments concerned have been asked to provide details for improving the gold card scheme for export credit to be submitted to the RBI.

Export credit, Piyush Goyal, MSME, HDFC Bank, Kotak Mahindra Bank, Bank of America, loans in foreign currency News

CERC calculates FY19 average power price at Rs 3.60 per unit

The national-level cost was derived by computing average prices paid by all states/UTs, weighted by volume of conventional power purchased by them.

Electricity tariffs, CERC, non-renewable electricity, Rs 3.60/unit, renewable energy, power prices News

Modi 2.0: PMO seeks 100-day, 5-year plans from govt departments

The government on Wednesday set up two Cabinet committees to tackle these issues on a priority basis.

Modi 2.0, Prime Minister Office, BJP, NITI Aayog, narendra modi News

Subscription in some debt plans temporarily suspended by funds

“Investors have been provided 30 days' load-free exit period to redeem from the schemes. The 30 days' load-free exit period will expire on June 14, 2019,” said the release.

debt plans, DHFL, fixed income schemes, NAV, DHFL Pramerica MF, Tata Corporate Bond Fund, Sebi, RBI News

Private thermal power plant utilisation rises in May on election demand growth

Conventional power plants (coal, gas, nuclear and hydro) generated 111.1 billion units (BU), and private power plants seemed to have gained the most with their utilisation levels (PLF) rising by 4.8 p

Private thermal power plant, Conventional power plants, average thermal PLF, Tata Power, Adani Power, Adani Power, renewable energy News

Non-stop power supply, sector’s sustainablitity main challenges before new govt

Financially-weak discoms trigger a domino effect in the sector, as they are unable to pay power producers on time, who in turn fail to service their debt.

Non stop power supply, UDAY, discoms, RK Singh, power producers, 24×7 affordable and quality power, electricity tariffs News

East West Gas Pipeline: Steep hike in tariffs to hit user industries

The tariff for zone 1 has been revised to Rs 65.50 per million British thermal unit (mmBtu) on the gross calorific value (GCV) basis from the existing Rs 15.

East West Gas Pipeline, EWNGP, city gas distributors, PNGRB, KG D6 gas, Mukesh Ambani, PIPL News

Gujarat launches pilot of unique emission trading scheme

The scheme wouldn't change or remove any existing legal and regulatory requirement for industries to meet the prescribed concentration standards for particulate emissions.

emission trading scheme, Emission Trading Scheme, ETS-PM, Gujarat government, GPCB, Vibrant Gujarat Summit  News
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