Full functional autonomy for PSU general insurers not privatisation: Unions

By Venkatachari JagannathanChennai, July 31 (IANS) Demanding functional autonomy and opposing privatisation, the major unions in the government owned general insurers are not buying Finance Minister Nirmala Sitharaman’s views about the reasons for the government amending the General Insurance Business (Nationalisation) Act, 1972. The unions also do not rule out a Lakshmi Vilas Bank (LVB) […]

Read More

Odisha approves industrial projects worth Rs 2,083 cr

Bhubaneswar, July 31 (IANS) The Odisha government on Friday approved seven industrial projects worth Rs 2083.88 crore, which will generate employment opportunities for over 2,144 people in the state, officials said. The State Level Single Window Clearance Authority (SLSWCA) headed by Chief Secretary Suresh Chandra Mahapatra approved the proposals, which include three grain-based ethanol plants, […]

Read More

Fuel prices remain unchanged for 5th day

New Delhi, July 22 (IANS) Oil marketing companies (OMC) continued the pause on fuel price revision for the fifth consecutive day, the longest period in weeks, as global development on oil production and rising US inventories softened crude and product prices. Accordingly, in the national capital, petrol continued to be sold at Rs 101.84 per […]

Read More

Telangana Cabinet approves logistics policy

Hyderabad, July 14 (IANS) The Telangana cabinet on Wednesday approved a logistics policy against the backdrop of the rapid growth in industries, e-commerce and services sector. The government will develop basic infrastructure facilities like warehouses, cold storages, dry ports, truck dock parking and other in the logistics sector. The Cabinet meeting, chaired by Chief Minister […]

Read More

Hyundai Motor India rolls out fastest 10 millionth car

New Delhi, June 30 (IANS) Automobile major Hyundai Motor India Ltd (HMIL) has achieved the fastest rollout of 10 million cars from its state-of-the-art manufacturing facility near Chennai, Tamil Nadu. According to the company, production of 10 million cars is a result of smart manufacturing and re-affirms Hyundai’s commitment towards making India self-reliant. Besides, the […]

Read More

Nepal introduces digital visa system

Kathmandu, June 29 (IANS) Nepal on Monday launched a digital visa system to replace its 45-year-old hand-written visa regime. Deputy Prime Minister and Home Minister Bishnu Prasad Paudel inaugurated the new system under which visas are produced digitally from the integrated information system of the Department of Immigration, the Xinhua news agency reported. According to […]

Read More

DoT further liberalises norms for Other Service Providers

New Delhi, June 23 (IANS) In a boost to the BPO sector in the country, the Department of Telecommunications (DoT) on Wednesday further liberalised the guidelines for Other Service Providers (OSPs). These entities are Business Process Outsourcing (BPO) organisations providing voice-based services in India and abroad. The guidelines further liberalised the special dispensation given to […]

Read More

FM for changing financing & development priorities

New Delhi, June 23 (IANS) Finance minister Nirmala Sitharaman on Wednesday participated virtually in Asia Infrastructure Forum (AIF2021) on ‘Enabling sustainable infrastructure for Asia’s recovery’. Speaking at the forum co-organised by InfrastructureAsia, EnterpriseSingapore, Ministry of Finance Singapore and Monetary Authority of Singapore, Sitharaman called for re-thinking financing and development priorities for inclusive, sustainable and resilient […]

Read More

India’s forex reserves rise by over $3 bn

Mumbai, June 19 (IANS) India’s foreign exchange reserves rose by $3.074 billion during the week ended June 11. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $608.081 billion from $605.008 billion reported for the week ended June 4. India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, […]

Read More

Delhivery launches C2C express parcel service

New Delhi, June 18 (IANS) Supply chain services provider Delhivery has launched its consumer-to-consumer (C2C) express parcel service. The new product enables individuals to ship parcels to friends and family across over 19,000 pin codes and over 2,500 cities in India, from the convenience of their homes, the company said. Easily accessible on direct.delhivery.com, customers […]

Read More

U.P emerges as top investment destination

Lucknow, June 17 (IANS) Uttar Pradesh is emerging as a top investment destination in the country with 98 investment proposals worth Rs 13,408.19 crore (over Rs 134 billion) having been received in the manufacturing sector during the past three and a half years. Industrialists from the country and abroad are investing heavily in infrastructure, food […]

Read More

TKM partially resumes ops at Bidadi plant

New Delhi, June 15 (IANS) Automobile manufacturer Toyota Kirloskar Motor (TKM) has partially resumed its operations at Bidadi plant in Karnataka. Accordingly, the partial resumption of operations began on Tuesday. “Operating at the prescribed workforce strength of 50 per cent, TKM will resume its operations as well as enhance training of all employees for the […]

Read More

Biz concerns exist, but knowledge sharing will boost investment interest: Aussie official

By Rituraj BaruahNew Delhi, June 15 (IANS) Knowledge among investors of both Australia and India regarding the commercial interests and regulatory framework in both the country would help improve the trade and investment relations between the two countries, said Catherine Gallagher, Minister Commercial, Australian High Commission New Delhi and Head of Austrade South Asia. Observing […]

Read More

Logistics firm Chetak delivers over 400 ambulances via railways

New Delhi, June 14 (IANS) Logistics major Chetak on Monday said it has used multi-modal transport model for delivering ambulances to various military hospitals across India. According to the company, it has forayed into multi-modal transportation model by venturing into the transportation of finished auto goods, through railways. The company used ‘Rail and Road’ transport […]

Read More

US labour market: Heed the signs (Opinion)

By Sreejith BalasubramanianImported tightening is a possible risk to the Reserve Bank of Indias (RBI) current accommodative monetary policy stance, but it is likely mitigated now. The US Fed’s new framework places high weightage on equitable job growth, does not link monetary policy action to only a headline employment number and thus focuses much more […]

Read More

DLF logs Q4 net profit of Rs 481 crore

New Delhi, June 11 (IANS) DLF on Friday reported a net profit of Rs 481 crore for the January-March qaurter of FY 2020-21, reflecting a year-on-year growth of 42 per cent. Its consolidated revenue increased 2 per cent to Rs 1,907 crore, the company said in a statement. “Our business exhibited resilient performance amidst a […]

Read More

India’s forex reserves rise by over $6 bn

Mumbai, June 11 (IANS) India’s foreign exchange reserves rose by $6.842 billion during the week ended June 4. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $605.008 billion from $598.165 billion reported for the week ended May 28. India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, […]

Read More

Flipkart partners with Telangana for ‘Medicines from Sky’ project (Ld)

Hyderabad, June 11 (IANS) Flipkart, India’s homegrown e-commerce marketplace, on Friday announced its partnership with the Telangana government to lead a consortium tasked with the development and execution of the drone deliveries of medical supplies to remote areas under the ‘Medicines from the Sky’ project. As part of the consortium, Flipkart will utilise learnings from […]

Read More

LIC Chairman Kumar’s term extended

Chennai, June 9 (IANS) The Central Government on Wednesday extended Life Insurance Corporation of India (LIC) Chairman M.R. Kumar’s term till March 13, 2022. He was set to retire on June 30, 2021. According to the order, Kumar’s term is extended till 13.3.2022, the date on which he completes three years as LIC Chairman or […]

Read More

Hyundai commences booking for SUV Alcazar

New Delhi, June 9 (IANS) Automaker Hyundai Motor India on Wednesday commenced bookings for upcoming premium SUV Alcazar. Accordingly, the company is accepting bookings at Dealerships and on its online car buying platform for Rs 25,000. “Customers can choose from four powertrains that include 2.0 l Petrol MPi engine and 1.5 l Diesel CRDi engine […]

Read More

NCLT approves Piramal’s resolution plan for DHFL

Mumbai, June 7 (IANS) The National Company Law Tribunal (NCLT) has approved the resolution plan of Piramal Capital & Housing Finance Ltd for Dewan Housing Finance Corporation Ltd (DHFL). Piramal Capital & Housing Finance Ltd is a wholly owned subsidiary of Piramal Enterprises. In a regulatory filing, Piramal Enterprises said: “National Company Law Tribunal, Mumbai […]

Read More

DHFL logs Q4 net profit of Rs 96.75 cr

Mumbai, June 6 (IANS) Dewan Housing Finance Corporation Ltd (DHFL) on Sunday reported a consolidated net profit of Rs 96.75 crore for the January-March quarter. During the same quarter of FY2019-20, the bankrupt NBFC had posted a consolidated net loss of Rs 7,507.01 crore. Its total revenue from operations during the fourth quarter of FY21 […]

Read More

IndiGo’s Q4FY21 net loss widens

New Delhi, June 5 (IANS) Budget passenger carrier IndiGo on Saturday reported a wider net loss for the fourth quarter of 2020-21 on a year-on-year basis. Accordingly, the airline’s net loss widened by 31.7 per cent to Rs 1,147.2 crore in the three months ended March 31, 2021, from Rs 870.8 crore in the same […]

Read More

India’s forex reserves rise by over $5 bn

Mumbai, June 4 (IANS) India’s foreign exchange reserves rose by $5.271 billion during the week ended May 28. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $598.165 billion from $592.894 billion reported for the week ended May 21. India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, […]

Read More

Airbus expands India Covid relief operations

New Delhi, June 2 (IANS) Aerospace major Airbus has expanded its Covid relief operations in India by delivering more than 36 tonnes of additional medical equipment to the Indian Red Cross Society (IRCS). Besides, it had deployed humanitarian flights to move supplies from abroad as well as within the country. Notably, Airbus is delivering oxygen […]

Read More

ITC’s Q4 standalone net profit falls 1.3%

Mumbai, June 1 (IANS) FMCG-to-hospitality major ITC on Tuesday reported a 1.3 per cent year-on-year decline in its standalone net profit for the January-March quarter, at Rs 3,748.41 crore. During the same period of FY20, the company had posted a standalone net profit of Rs 3,797.08 crore. Its revenue from operations during the period under […]

Read More

Exports boost TVS Motor’s May sales

Chennai, June 1 (IANS) Backed by exports, two- and three-wheeler maker TVS Motor Company Ltd closed last month selling 166,889 units up from 58,906 units sold in May 2020. In a statement, the company said it sold 166,889 units (two-wheelers 154,416 units, three-wheelers 12,473 units) as against 58,906 units (two-wheelers 56,218 units, three-wheelers 2,688 units) […]

Read More

Glenmark Pharma launches Rufinamide tablets

Chennai, June 1 (IANS) Pharma major Glenmark Pharmaceuticals Limited on Tuesday announced the launch of Rufinamide tablets, 200 mg and 400 mg, a therapeutic equivalent of Banzel tablets, 200 mg and 400 mg of Eisai, Inc. In a statement issued Glenmark said it was one of the first Abbreviated New Drug Application (ANDA) applicants to […]

Read More

SaveIN aims market expansion after pre-seed funding

New Delhi, May 30 (IANS) Social finance-based neo bank SaveIN aims at market expansion and product development after its recently completed pre-seed funding round. The company, which has not disclosed the funding amount, got investments from a number of Indian and international angel investors and industry leaders across banking, consulting, blockchain, and fintech. “The company […]

Read More

Petrol prices unchanged across metros

New Delhi, May 30 (IANS) Petrol prices across the four metros remained unchanged on Sunday, with the fuel priced at Rs 93.94 per litre in the national capital. In Mumbai, petrol remained unchanged above the Rs 100 per litre mark. On Saturday, the city witnessed petrol prices reached the landmark three-digit level at Rs 100.19 […]

Read More

PMAY creates over 1.2 cr employment opportunities so far

New Delhi, May 29 (IANS) The Centre’s flagship housing programme – Pradhan Mantri Awas Yojana – has created over 1.2 crore employment opportunities, said Grant Thornton Bharat’s ‘Affordable Housing in India’ report. The report cited that these employment opportunities so far were created through forward and backward linkages across 21 sectors. Besides, the report said […]

Read More

Petrol prices unchanged across metros

New Delhi, April 18 (IANS) Oil marketing companies (OMC) kept petrol and diesel prices unchanged for the third straight day across four metro cities. In the national capital, petrol was sold for Rs 90.40 per litre on Sunday. Similarly, price of the fuel in Mumbai, Chennai and Kolkata also was unchanged at Rs 96.83, Rs […]

Read More

GMR launches ‘AeroCity Hyderabad’

Hyderabad, April 16 (IANS) Infrastructure major GMR Group on Friday announced the launch of GMR AeroCity Hyderabad which offers a gateway airport with the best-in-class logistics hub with smart technology. Spread across 1,500 acres, GMR AeroCity Hyderabad is envisaged to be an integrated mixed-use development, which includes key ports and establishments like business park, retail […]

Read More

Asmbhav Summit moots stricter regulation, central agencies led investigation over foreign platforms

New Delhi, April 15 (IANS) The ‘Asmbhav Summit’, successfully held virtually across India representing the voices and aspirations of lakhs of small retailers and traders across India saw enthusiastic participation from participants across industry. A key point that emerged was the need for stricter regulation and penalization for wrongs done by the foreign retailers posing […]

Read More

Huge losses from fresh Maha lockdown, says industry body

Mumbai, April 14 (IANS) Having barely recovered from the one-year pandemic lockdown, the fresh 15-day ‘lockdown-style’ restrictions in Maharashtra could lead to massive economic and business losses, the Mumbai-headquartered All India Association of Industries (AIAI) said on Wednesday. “The restrictions will impact over Rs 7,500 crore tax revenues and the Centre will lose over Rs […]

Read More

Covid Effect: Airlines demand assistance package, capacity reduction (IANS Exclusive)

By Rohit VaidNew Delhi, April 13 (IANS) Resurgence of Covid infections along with the re-imposition of partial travel restrictions in some major states have triggered a clamour among a section of airlines for financial assistance as well as reduction of flight capacity. Industry insiders have contended that rising Covid cases have severely impacted demand, leading […]

Read More

Amplus acquires rooftop solar projects from Sterling and Wilson

New Delhi, April 13 (IANS) Distributed solar energy company Amplus Solar, Asia’s has acquired 17 On-site operational solar projects from Sterling and Wilson totalling 7.2 MW. Spread over Haryana, Punjab, Madhya Pradesh, Rajasthan, Maharashtra, Telangana and Karnataka, these 17 projects have been supplying solar power to 13 leading Industrial, Commercial, and Institutional customers. This addition […]

Read More

Vivek Kanade named Managing Director of Siemens Healthcare

Mumbai, April 12 (IANS) Siemens Healthcare Private Ltd, a wholly-owned subsidiary company of global medtech company Siemens Healthineers AG, has elevated Vivek Kanade as its Managing Director. Kanade will continue to lead the business for Siemens Healthineers India including manufacturing, sales and distribution, strategy for ‘Zone India’, comprising of neighboring countries — Bangladesh, Nepal, Sri […]

Read More

AEPC urges govt for uninterrupted manufacturing at factories

New Delhi, April 12 (IANS) Concerned over possible imposition of lockdowns due to a resurgence in coronavirus infections, the Apparel Export Promotion Council (AEPC) has urged the government to keep factories free from lockdowns and requested for essential service sector tag for the labour-intensive apparel export industry. For ensuring uninterrupted manufacturing at factories, the industry […]

Read More

Aramco signs $12.4 bn infra investment deal with EIG-led consortium

Dhahran, April 10 (IANS) Aramco has signed a deal with a consortium led by EIG Global Energy Partners (EIG), one of the world’s leading energy infrastructure investors, to optimise its assets through a lease-and-lease-back agreement involving its stabilised crude oil pipeline network. Upon closing, Aramco will receive upfront proceeds of around $12.4 billion, further strengthening […]

Read More

India, Sri Lanka finalise ‘Air Bubble’ agreement

New Delhi, April 10 (IANS) Travel between India and Sri Lanka will become easier in the near future as the two countries have finalised an ‘Air Bubble’ agreement. Notably, the current international flights are operated under the ‘Air Bubble’ agreements between India and other countries. This special arrangement mandates certain prerequisites along with permissions which […]

Read More

India’s OEMs accelerating shift towards EVs: HDFC Securities

New Delhi, April 10 (IANS) India’s automobile OEMs are accelerating their shift towards EVs by investing in startups and enhancing collaborations, HDFC Securities said. “Along with developing electric products in-house, OEMs are open to collaborations, to reduce the speed-to-market as well as maintain capital efficiency,” HDFC Securities said in a report. “Part suppliers are attempting […]

Read More

JioMart activity scaling up

New Delhi, April 10 (IANS) JioMart activity is scaling up as per a report by JP Morgan research which found brisk online activity across stores and formats it visited in Mumbai in the last week of March that could have been nudged further by rising Covid-19 cases. “We found the delivery infrastructure to be a […]

Read More

Mini-lockdown casts cloud over MFI collections

Mumbai, April 10 (IANS) States have once again begun imposing restrictions to prevent the spread of Covid-19 virus. For instance, Maharashtra, which is seeing the maximum number of cases, has announced the most stringent one — a mini-lockdown through April 30. Many other states have also announced night curfews and weekend lockdowns. Maharashtra is also […]

Read More

Petrol, diesel prices remain unchanged

New Delhi, April 10 (IANS) Fuel prices in the country remained unchanged on Saturday with oil marketing companies continuing on the pause mode and keeping petrol and diesel prices static for 11th consecutive day. Accordingly, pump price of petrol and diesel remained at previous days level of Rs 90.56 and Rs 80.87 a litre, respectively, […]

Read More

India’s forex reserves down by over $2.4 bn

Mumbai, April 9 (IANS) India’s foreign exchange reserves fell $2.415 billion during the week ended April 2. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves decreased to $576.869 billion from $579.285 billion reported for the week ended March 26. India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, special […]

Read More

Yogi opts for RBI’s e-Kuber system for payment disbursement

Lucknow, April 9 (IANS) To ease government transactions and improve transparency and efficiency, the Yogi Adityanath government has decided to implement the e-Kuber system of RBI to disburse government funds directly to the payee’s bank account, in times of natural disasters like flood, drought, hailstorm, excess rain, lightning, etc. Chief minister Yogi Adityanath has issued […]

Read More

Yogi opts for RBI’s e-Kuber system for payment disbursement

Lucknow, April 9 (IANS) To ease government transactions and improve transparency and efficiency, the Yogi Adityanath government has decided to implement the e-Kuber system of RBI to disburse government funds directly to the payee’s bank account, in times of natural disasters like flood, drought, hailstorm, excess rain, lightning, etc. Chief minister Yogi Adityanath has issued […]

Read More

Infosys wins bid for ArcelorMittal’s digital transformation (Lead)

Bengaluru, April 8 (IANS) Global software major Infosys on Thursday said it won a contract for digital transformation of steel maker ArcelorMittal’s IT operations. “As part of the deal, we will deliver next-generation application and business process management (BPM) services to ArcelorMittal,” the city-based firm said in a statement. Infosys will work with the London-based […]

Read More

Infosys wins ArcelorMittal digital contract

Bengaluru, April 8 (IANS) Global software major Infosys on Thursday said it won a contract for digital transformation of steel maker ArcelorMittal’s IT operations. “As part of the deal, we will deliver next-generation application and business process management (BPM) services to ArcelorMittal,” the city-based firm said in a statement. Infosys will work with the London-based […]

Read More

Malaysia’s MMC Corporation selects Ramco for digital transformation

Chennai, April 8 (IANS) Malaysia’s MMC Corporation Behard, a utility and infrastructure conglomerate has chosen India’s Ramco Systems Ltd’s enterprise resource planning (ERP) for digital transformation of its five ports business systems, said top officials. The MMC Corporation has five ports under its fold in Malaysia. Internationally, MMC has presence in Saudi Arabia via Red […]

Read More