Business Companies Industries Market

Exports rise but trade deficit widens to $17 billion cause alarm

Exports bounced back in October after a contraction in September, as engineering goods, pharmaceutical and chemical shipments picked up pace.  However, this didn’t prevent trade deficit from widening, as crude oil bill continued to shoot up. Outbound trade rose by 17.86 per cent in October to $26.98 billion. In September, exports had declined for the Read More…

Companies South India

600 Crores Scam , 15000 investors duped, Ex Minister BJP’s janardhan arrested

Karnataka  Central Crime Branch (CCB) police arrested Ballari mining baron and former BJP minister G Janardhan Reddy, after 20 hours of interrogation.  Police also arrested Reddy’s close aide Ali Khan on charges of criminal conspiracy in a multi-crore cheating case. Speaking soon after the arrest on Sunday afternoon, Additional Commissioner of Police (Crime) Alok Kumar Read More…

Business National Politics

Centralised Power, Demonetisation, GST hampered India’s economic growth : Rajan

Addressing an audience at the University of California in Berkley on Friday, Former India’s RBI Governor Raghuram Rajan said for four years — 2012 to 2016 India was growing at a faster pace before it was hit by two major headwinds. Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that Read More…

Companies Market

Royal Enfield’s 650cc goes International

Royal Enfield, the global leader in the mid-size motorcycle segment, on Wednesday launched the much awaited 650cc twin bikes called the Interceptor and Continental GT 650 for the international market in California. The company said both motorcycles would be launched in India later this year. Both bikes are available in three variants such as Standard, Read More…

Business Legal South India

BJP Ex Minister goes underground fearing arrest

Cops launch hunt for Minning Mafia  and BJP Ex Minister Janardhana Reddy. The Central Crime Branch (CCB) sleuths are on the lookout for Ballari’s mining baron Gali Janardhana Reddy and his personal assistant Ali Khan over their alleged involvement in a money laundering case.  Fearing that Reddy may flee the country, police have collected his Read More…

America Asia China Market World

India, China and six others temporary exempted from Iran oil sanctions

The US has told various countries, including India, to cut oil imports from the Persian Gulf nation to “zero” by November 4 or face sanctions. India, which is the second biggest purchaser of Iranian oil after China, is willing to restrict its monthly purchase to 1.25 million tonnes or 15 million tonnes in a year Read More…

Business Market

Gems and jewellery market in India to reach 100 billion $ by 2025 says Gold traders

The jewellery industry witnessed increased footfalls on Monday, which is celebrated as Dhanteras, considered to be an auspicious day to purchase gold.  In the fourth quarter last year, during which Deepavali was celebrated, the demand for gold was 249.3 tonnes, valued at Rs 66,220 crore. This year, the industry expects around 10% growth over last Read More…

Companies Legal National Politics

CIC issues notice to PMO, RBI on disclosure of the wilful defaulters NPA list

The Central Information Commission (CIC) has issued a show-cause notice to RBI Governor Urjit Patel for “dishonouring” a Supreme Court judgment on disclosure of the wilful defaulters’ list. The CIC has also asked the Prime Minister’s Office, the Finance Ministry and the Reserve Bank of India (RBI) to make public the letter of former RBI Read More…

Business Technology

HSBC facilitates blockchain-based international trade transaction In India

In a first for India, British banking major HSBC has executed a trade finance transaction involving an export by Reliance Industries to an American client using the blockchain, which massively reduced the time taken for processing the documents. The blockchain-enabled letter of credit transaction facilitated a shipment between Reliance and the US-based Tricon Energy, a Read More…

Companies Technology Women World

“Walkout For Real Change” Tsunami hits google

In Silicon Valley, women also are becoming fed up with the male-dominated composition of the technology industry’s workforce a glaring imbalance that critics say fosters unsavoury behaviour akin to a college fraternity house. Hundreds of Google engineers and other workers around the world walked off the job Thursday to protest the internet company’s lenient treatment Read More…

Companies Legal

ED fiercely fights for PC custody inside court

The Enforcement Directorate on Wednesday opposed in a Delhi court the anticipatory bail plea of former Union minister and Congress leader P Chidambaram in the Aircel-Maxis money laundering case and sought his custodial interrogation. ED, which filed its response to the anticipatory bail plea of Chidambaram, said that he has remained evasive and was not Read More…

Business Market National

Governments that do not respect central bank independence will sooner or later incur the wrath of financial markets says Viral RBI Dy.Gov

The Reserve Bank of India needs to be independent to improve the macroeconomic stability, and policies need to be rule-based, the deputy governor Viral Acharya said on Friday. “To secure greater financial and macroeconomic stability, these efforts need to be extended to effective independence for the Reserve Bank in its regulatory and supervisory powers over Read More…

Companies Legal

Amnesty International Bengaluru offices raided by ED

The Enforcement Directorate (ED) Thursday conducted searches at two locations here in connection with a foreign exchange contravention case against human rights watchdog Amnesty International India, officials said. They said the searches are being conducted under the Foreign Exchange Management Act (FEMA) and the central probe agency is looking for documents. The ED, they said, Read More…

Environment Industries Life Style National

No Bharat Stage IV vehicles to be sold from 1st April 2020 : Supreme Court

The Supreme Court Wednesday said that no Bharat Stage IV vehicle shall be sold across the country with effect from April 1, 2020. The Bharat stage emission standards are standards instituted by the government to regulate output of air pollutants from motor vehicles.  The Bharat Stage VI (or BS-VI) emission norm would come into force Read More…

Business Market

Economy turmoils – FPIs pull out over 32000 Crores from markets in 3 weeks

According to the latest depository data, foreign portfolio investors (FPIs) sold equities to the tune of Rs 19,810 crore during October 1-19 and bonds worth Rs 12,167 crore, taking the total to Rs 31,977 crore (USD 4.3 billion).  Foreign investors have pulled out close to Rs 32,000 crore from the Indian capital markets in the Read More…

Business National Politics

UAE delegation preference of HAL products cause embarrassment to ruling establishments

India and the UAE are planning to expand their joint military training with a focus on improving desert operations. The issues were discussed between defence minister Nirmala Sitharaman and the UAE’s minister of state for defence, Mohammed Ahmed Al Bowardi Al Falacy, on Tuesday.  The UAE minister  be in Bangalore on Wednesday to visit the Read More…

Business Companies Industries Market

Super bumper Diwali harvest for E malls Portals

Diwali has come early for e-tailers like Amazon and Flipkart whose Great Indian Festival and Big Billion Days Sales got over recently. With the 5-day long sale fst, both Amazon and Flipkart have amassed a whopping Rs 15,000 crore.  RedSeer Consulting in its report said e-tailers had a better “sales performance over the five festive Read More…

Business

Internet users may loose critical 48 hours usage

Internet users around the world may experience network connection failures as the main domain servers and related infrastructure controlling the web will be powered down for some time, a Russia Today report stated. The Internet Corporation of Assigned Names and Numbers (ICANN), which is responsible for maintaining the registry of domain names and IP addresses, Read More…

Companies Industries Market

Investor wealth eroded by Rs 2.69 trillion ; 370 scrips hit their 52-week lows on BSE

Investor wealth eroded by Rs 2.69 trillion Thursday hit hard by massive sell-off in the equity market where the BSE benchmark index plummeted over 1,000 points in intra-day trade. Following the weak show by equities, the market capitalisation (m-cap) of BSE-listed companies witnessed an erosion of Rs 2.69 trillion to Rs 1.5 trillion. “Indian stock Read More…

Companies Market

Mahindra to offer vehicles on lease

Homegrown automaker Mahindra & Mahindra Wednesday launched a new vehicle acquisition scheme that allows customers to lease vehicles for a period of up to five years. The lease option scheme will be available on Mahindra’s personal portfolio of vehicles such as the entry level sports utility vehicle (SUV) KUV100, compact sports utility vehicle TUV300, mid-sized Read More…

Industries Market National

Rupee hit 74.39 amid Concern over fiscal deficit and rising current account deficit.

The unabated outflow of foreign funds continues to pinch Indian rupee, as domestic currency slumped by 33 paise to finish at a fresh lifetime low of 74.39 against the US dollar  on Tuesday. This is the six consecutive fall for the rupee against US dollar Earlier in the day, the domestic currency erased all its Read More…

Industries Life Style North India

Nine dead and 14 Critical in Bhilai Plant Blast

Till now   nine people were reported dead Tuesday following a blast at the Bhilai Steel Plant in Chhattisgarh, located some 32 kilometres from Raipur. The blast was sudden and people working there had no time to escape. The Bhilai plant, operated by SAIL, produces a range of products, including rails. District collector visited hospital Read More…

Business Industries Market National Technology

WhatsApp adheres RBI Circular for Payment data localisation policy.

Mobile messaging platform WhatsApp Tuesday said it has built a system that stores payments-related data in India, in line with RBI’s data localisation policy.  The Reserve Bank of India (RBI), in a circular in April, had said all system providers will have to ensure that the entire data relating to payment systems operated by them Read More…

America Asia China Europe Market Russia World

Putin – Modi Summit Signed eight Pacts

Prime Minister Narendra Modi and Russian president Vladimir Putin met on Friday for the 19th India-Russia annual bilateral summit and the two sides signed eight pacts after talks between the leaders. Modi said that talks with Putin have given a new direction to the bilateral strategic partnership and Russia has always been a part of India’s growth Read More…

Market National

Fuel cry : Center reacted with 2.50 paise cut but opposition calls it as cheating on Indian people

Bowing to public anger finally   Centre winked on Thursday and announced a cut of Rs 2.50 per litre on diesel and petrol across the country. Finance Minister Arun Jaitley announced that the Centre and oil companies will take a hit of Rs 1.50 per litre and Re 1 per litre respectively in their revenue. Read More…

Market National Opinion Politics

At 73.77 government is clueless , Rahul Gandhi says it is not breaking but broken

As the Rupee hit a record low of Rs 73.77 against the US dollar, Congress President Rahul Gandhi Thursday said the Indian currency is not breaking, but is “broken”. The rupee collapsed to a fresh low of 73.77 against the US dollar Thursday, deepening concerns about the current account deficit and capital outflows. “Breaking: Rupee Read More…

Companies National Supreme Court

Ericsson knocks SC door not to allow Anil Ambani go out of India

Swedish telecom equipment company Ericsson was to get the payment from  the business transactions it had done with the embattled Anil Ambani group that has debt running up to Rs 45,000 crore. Ericsson had earlier agreed to scale down its dues towards Ambani’s group from Rs 1,600 crore to Rs 550 crore as part of Read More…

Companies Europe Life Style Technology

Hyperloop capsule unveiled at Spain

Hyperloop Transportation Technologies (HyperloopTT/HTT) provided the first look of their full-scale passenger Hyperloop capsule at an unveiling ceremony in Puerto de Santa Maria, Spain. The capsule, “Quintero One” is constructed almost completely out of HyperloopTT’s Vibranium — a specially made dual-layer smart composite material.  It was built at the Southern Spain aerospace facilities of HyperloopTT’s Read More…

Asia Business Companies Europe Market

BJP government awards 84.6% contracts to Vedanta, and 16.4 % to Government giants ONGC, IOC

Indian Government   has set a target of cutting oil import bill by 10 per cent to 67 per cent by 2022 and to half by 2030.  But Import dependence has increased since 2015 after set of  target. India currently imports 81 per cent of its oil needs.  BJP Government under Prime Minister  Modi  had Read More…

Companies Market National Opinion Supreme Court

Jio growth to get slower after SC bars aadhaar link to SIM

The apex court order disallowing telcos from using the faster Aadhaar-based verification system could slow the pace of subscriber additions significantly, potentially delaying the company’s plan to acquire a 50% revenue market share, analysts said.  Jio added 11.78 million customers in July, outpacing Airtel’s 313,000, Vodafone India’s 609,000 and Idea Cellular’s paltry 5,489, according to Read More…

Business Market National

Axe in drawing cash limit for Classic and Maestro Cards in SBI ATM on cards

Days before  Diwali festival that falls on November 6th SBI plans to reduce ATM daily withdrawal limit to Rs 20,000 and this restriction comes into effect from October 31 onwards  “In view of the increase in the number of complaints received by banks around fraudulent transactions at ATMs and to encourage digital and cashless transactions, Read More…

Companies Industries Legal Technology

Mobile Companies Instructed to submit plan to discontinue Aadhar based eKYC

The Supreme Court, last week, struck down Section 57 of the Aadhaar Act, which allowed private companies to use the 12-digit biometric ID-based eKYC.  Days after the Supreme Court imposed curbs on the use of Aadhaar, biometric-issuing authority UIDAI Monday asked telecom companies to submit, within the next 15 days, a plan to stop using Read More…

America Business Industries Women

Indian Origin USA Citizen Gita appointed Chief Economist in IMF

The International Monetary Fund (IMF) on Monday appointed Indian-origin Harvard University professor Gita Gopinath as its new chief economist. “International Monetary Fund (IMF) Managing Director Christine Lagarde appointed Gita Gopinath on Monday as Economic Counsellor and Director of the IMF’s Research Department,” IMF said in a statement. “Gita is one of the world’s outstanding economists, Read More…

Business Companies Market

PayTM founder share diluted again

Paytm’s parent firm had raised $30 million from SAIF Partners, Intel Capital, Silicon Valley Bank and SAP Ventures among others since 2007. In 2010, the company had filed for an initial public offering but shelved the plan after receiving regulatory clearance Alibaba and its payment unit Alipay together would have close to 40 per cent equity Read More…

Companies National Supreme Court

Aadhaar link to bank account and SIM card is not required : Supreme Court

Today Apex  court said it wasn’t mandatory to link Aadhaar to bank accounts or mobile numbers, but that that the identification was compulsory for the filing of I-T returns and for the allotment of Permanent Account Numbers (PAN). It said no child can be denied benefits of any schemes if he or she can’t produce Read More…

Business Companies

Nitin Sandesara another Gujarathi fled India looting 5000 crores bank money

The CBI and the ED have booked Vadodara-based Sterling Biotech  , its directors Nitin, Chetan and Dipti Sandesara, Rajbhushan Omprakash Dixit, Vilas Joshi, chartered accountant Hemant Hathi, former Andhra Bank director Anup Garg and unidentified persons for cheating banks of Rs 5,000 crore. Related to this case the ED arrested Delhi-based businessman Gagan Dhawan and Read More…

Industries National Politics Voice

Another pact with Russian arms firm by Reliance when Modi visited Moscow during dec 2015

Will the opposition in India also  include Reliance Defence announcement  on Thursday 24th dec 2015 that it had signed a manufacturing and maintenance deal potentially worth $6 billion with Russia’s Almaz-Antey, the maker of an air defence system  is a point  been pondered with . It is important to note Prime Minister Narendra Modi on Read More…