Economy

IL&FS fallout: Tighter investment norms for pension funds on cards – All you need to know

According to the current investment guidelines of PFRDA, the PFMs could invest only in corporate bonds which are rated at least ‘AA’ by rating agencies. So a tightening could mean that investments

Rafale deal: SC seeks details of decision-making process

Clarifying that it is not getting into “pricing or suitability” of the jets, the CJI said, “We want to satisfy ourselves on the steps taken in the decision-making. We are not going into the issu

M&As: CCI amends combination rules on withdrawal, refiling of notices for clearance

In July this year, the fair trade regulator had invited comments for the amendments in the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations)

Diwali dhamaka! Big good news for railway employees – Modi Cabinet approves productivity-linked bonus

The Union Cabinet on Wednesday approved productivity-linked bonus (PLB), which is equivalent of 78 days’ wages, for 11.91 lakh eligible non-gazetted railway employees for 2018-19. The decision will

IMF warning for Modi government: Growth projection at 7.3 per cent, CAD may rise to 3 per cent

The IMF appreciated the Modi government for implementing important reforms, including GST, the inflation-targeting framework, the Insolvency and Bankruptcy Code, and steps to liberalise foreign invest

Attention erring taxpayers! CBIC says administrative jurisdiction no bar for launching enforcement action

While the GST Act lays down the jurisdiction of state and Central tax officials over taxpayers, sources said ambiguity on the issue of initiating enforcement action was holding up progress in several

Trouble for maggi dealer in UP: GST NAA holds guilty of profiteering

The National Anti-profiteering Authority (NAA) ordered the dealer to deposit Rs 90,778 along with an interest of 18% per annum to the consumer welfare fund and refund Rs 2,253 to the complainant.

Rupee slips to record low of 74.39 on CAD fears, fund outflows

The currency depreciated 32 paise amid deepening concerns over India’s current account deficit (CAD), fund outflows and the continued pressure from RBI’s unexpected decision of keeping the repo ra

How India can attract big electronic manufacturing units moving out of China

It is estimated by 2030, China’s private consumer market will reach $9.6 trillion and account for 47% of its GDP, up from $4.4 trillion and 39% of GDP today.

NHB enhances refinancing to HFCs by 25%

NHB had set an initial limit to sanction Rs 24,000 crore this year (July 2018-June 2019) towards refinancing eligible institutions. So far this year, it has sanctioned Rs 8,835 crore.

Net neutrality: Telecom department amends unified licence norms for operators & VNOs

The Department of Telecommunications (DoT) has amended the Unified Licence (UL) norms for telecom operators and virtual network operators (VNOs) to include the regulatory framework for application of

Tamil Nadu goverment seeks early settlement of Rs 5,427-crore IGST dues for 2017-18

The Tamil Nadu government has sought an early settlement of Rs 5,427-crore integrated goods and services tax (IGST) dues to the state for the financial year 2017-18, along with the ad-hoc settlement o

Migrant workers flee Gujarat leaving industries on edge, state government urges them to return

What makes the situation worse is that businesses are likely to take a hit during the peak festival season when huge amounts of orders are pending completion.

Examine steps taken for implementing MCLR regime: SC to RBI

The Supreme Court on Monday asked RBI to examine within six weeks the steps being taken for proper implementation of the marginal cost of funds based lending rate (MCLR) regime and whether repo rate b

PM Narendra Modi inaugurates Uttarakhand investors’ summit, says India to aid global development

The Uttarakhand government has identified 12 focus areas to attract investment.

NCLAT order stayed; SC asks cement cos to pay 10% of Rs 6,300-cr penalty

The Supreme Court on Friday stayed the National Company Law Appellate Tribunal (NCLAT)’s order that had upheld the Competition Commission of India’s verdict imposing Rs 6,300-crore penalty on 11 c

Spot power trading volume rises 40% in September

The daily trading volume had touched an all-time high of 306 MU on September 28 on the IEX. According to sources, the top states which sold the highest volume of electricity were Punjab, Delhi, Himach

Corporate advance tax growth rate doubles

The tax department collected Rs 2.10 lakh crore as advance tax, which is 18.7% higher compared with the corresponding period a year ago.

Panel asks RBI to explore rupee-renminbi trade

The meeting took place on a day when the rupee settled at an all-time low of 73.81 against the dollar.

ISA assembly okays $9-m annual budget

The first assembly of the International Solar Alliance (ISA) provisionally approved the prospective annual budget of $9 million for calendar years 2019 and 2020.

‘Low solar tariffs warrant strict due diligence’

Bankers and experts were speaking during a panel-discussion at the second edition of RE-Invest India.

Spot power prices soar to 10-yr high

Electricity prices on the Indian Energy Exchange continue to soar, with the highest rate for a 15-minute block to be supplied on Thursday going up to as high as Rs 18.2/unit, the highest in 10 years.

Oil marketing companies can borrow working capital from overseas now

The Reserve Bank of India (RBI) on Wednesday announced liberalisation of the policy for public sector oil marketing companies (OMCs) in the case of external commercial borrowings (ECB) for working cap

Non-essential imports: Suresh Prabhu to hold key inter-ministerial meet today

“The discussion will also centre around how to substitute imports through higher local production,” said a senior government official.

Modi-led cabinet’s big decision for Indian Railways! Stations to be redeveloped on PPP model with many passenger amenities

The Cabinet on Wednesday approved the long-pending station redevelopment programme of the railways, paving the way for revamping of stations by private parties to enhance facilities for passengers.

Gujarat invites tenders for 700 MW solar projects sans ceiling tariff

Gujarat is inviting tenders to set up 700 MW of solar projects in the state under the reverse-auction mechanism.

Govt mulls creating steel giant through merger

SAIL, the largest state-run steel maker, achieved a sales turnover of Rs 58,297 crore during FY18, 19% higher than the previous year.

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