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Why banning private vehicles is a bad idea

Experts on Wednesday reiterated that a ban on all private vehicles that do not run on CNG, as being pushed for by the Supreme Court-appointed Environment Pollution (Prevention and Control) Authority (EPCA), would be ‘impractical’. They also doubted if the existing transport infrastructure could support the sudden increase in passengers.

12:55:01 on 16 Nov

Read more at Hindustan Times

Continuing its recovery momentum, the rupee vaulted 34 paise to close at a two-month high of 71.97 against the US dollar on robust foreign fund inflows amid low crude oil prices. Dealers said the strength in the rupee was also supported by increased selling of the greenback by exporters and banks. Globally, dollar and yen gained on Brexit-induced safe-haven buying.

09:10:02 on 15 Nov

Read more at NDTV

Jawa, the iconic motorcycle brand, has been reintroduced in India after a gap of around 25 years. Classic Legends, a subsidiary of the Mahindra Group, introduced three 300 cc Jawa motorcycles in India. The all-new Jawa motorcycle models were unveiled by Mahindra Group chairman Anand Mahindra.

04:25:01 on 15 Nov

Read more at The Hindu

The government is planning to soon make hallmarking mandatory for gold jewellery sold in the country, Food and Consumers Affairs Minister Ram Vilas Paswan said. The hallmarking of gold, which is voluntary in nature at present, is a purity certification of the precious metal. The BIS, under the Consumer Affairs Ministry, is the administrative authority of hallmarking.

03:58:50 on 15 Nov

Gold regained its sheen with prices climbing by ₹350 to ₹32,250 per 10 gram at the bullion market on increased buying by local jewellers coupled with a firming trend overseas.Traders said sentiment turned upbeat on firm global cues as the dollar slipped further from a 16-month high, raising demand for the precious metals as a safe haven.

03:31:47 on 15 Nov

Read more at The Hindu

Warren Buffett has cut bait on Bentonville. Buffett’s Berkshire Hathaway Inc. has sold its last Walmart Inc. shares, ending a relationship that dates back more two decades. The world’s largest retailer was once one of Berkshire’s five biggest equity holdings, valued at more than $5 billion but Inc.’s encroachment has prompted Berkshire to pare down that stake.

05:25:01 on 15 Nov

Read more at Livemint

The government on Tuesday, 13 November, announced that it will release a Rs 75 coin to commemorate the 75th anniversary of hoisting of Tricolour for the first time by Netaji Subhash Chandra Bose at Port Blair. The 35 gram coin will be composed of 50 percent silver, 40 percent copper, and 5 percent each of nickel and zinc.

12:25:01 on 15 Nov

Read more at The Quint

Driven by digital business transformation initiatives from both private and public enterprises, India's IT spending is poised to hit $89.2 billion in 2019, an increase of 6.7 per cent from the estimated spending of $83.6 billion in 2018, Gartner said on Wednesday.

10:40:01 on 14 Nov

Read more at The News Minute

For the Lok Sabha elections next year, online search major Google plans to replicate an exercise that it undertook during the recently concluded mid-term elections in the US, where they attempted to put in place “tight control” on who is spending on political advertisements, alongside guidelines requiring all such as to include a disclosure identifying who paid for it.

07:41:01 on 14 Nov

Read more at Indian Express

Chinese companies invested nearly $2 billion in Indian startups in 2017, a sharp increase from previous years and indicating their inclination to shift to India for its expanding market and less domestic vulnerability. In the 1st Startup India Investment Seminar held in Beijing last year, 12 Indian startups participated out of which four secured funding.

05:40:02 on 13 Nov

Read more at Hindustan Times

Gold prices came down by ₹100 to ₹32,050 per 10 grams at the bullion market on Tuesday owing to slackened demand from local jewelle₹despite a firm trend in overseas markets. Silver followed suit and cracked below the ₹38,000-mark by plunging ₹700 to ₹37,450 per kg due to reduced offtake by industrial units and coin makers.

04:52:54 on 13 Nov

Read more at The Hindu

After the five accused in the Salem train heist have been in the CB-CID custody for 14 days, they were lodged in the Puzhal prison. The interrogations have revealed their plans and execution of the heist in which they looted around Rs 5.78 crore. The arrested men have claimed that much of the cash they got became useless due to demonetisation within 3 months of the heist.

03:25:02 on 13 Nov

Odisha received investment commitments totalling over Rs 1,38,000 crore as RIL chairman Mukesh Ambani, Aditya Birla Group chairman Kumar Mangalam Birla and other industry captains pledged to pump in additional funds into existing projects in the state. On the first day of the 'Make in Odisha Conclave' here, Ambani said he would make a fresh investment of Rs 3,000 crore.

10:25:01 on 12 Nov

Read more at Times Now

The share of diesel cars in the overall passenger car segment has come down to around 22%, against a high of 50% in 2012-13. Among many factors that is instrumental in decreasing the demand for diesel cars, the reduction in price difference gap between petrol and diesel tops the chart. From a peak price gap of `29 a litre, diesel is now cheaper by only `5-8 a litre.

01:36:01 on 12 Nov

With the Central Government keen on revenue generation by privatising six airports in the country, including the one at Thiruvananthapuram, air transportation is going to be a high-priced affair for travellers. Any change in airport handling charges, including the landing and navigation charges, would be directly passed onto the passengers.

10:57:02 on 12 Nov

Finance Minister Arun Jaitley hit out at the "critics and cynics" who blame GST for growth deceleration, saying the tax reform had only a transient impact on growth and that too for two quarters. Thes remarks were apparently aimed at Raghuram Rajan, who blamed the GST and demonetisation for lower GDP growth. But the minister was silent on Rajan's criticism of the note-ban.

07:26:01 on 12 Nov

Read more at New Indian Express

What would a householder do when its expenses threaten to outstrip income? Dip into reserves, of course. The Indian government is not above this behaviour either. Hence when it looked like its fiscal math was too difficult to manage, the government seems to have hit upon a new reserve, called the Reserve Bank of India (RBI).

08:26:01 on 11 Nov

Read more at Livemint

Former Union finance minister P Chidambaram asked the Centre what was its "tearing hurry" to "fix" the capital framework of RBI when the ruling dispensation had just four months to complete the term. In a series of tweets, the senior Congress leader slammed the government for allegedly seeking funds from the RBI despite claiming that its (Centre) fiscal math was correct.

01:55:01 on 11 Nov

In an attempt to put at rest speculation about the government seeking Rs 3.6 lakh crore from the RBI, economic affairs secretary Subhash Chandra Garg on Friday said that the Centre’s fiscal math is on track and does not require any money from the Central bank. A “lot of misinformed speculation is going around in the media. The govt’s fiscal math is completely on track.

06:25:01 on 10 Nov

Read more at Deccan Chronicle

In a startling development, it has now been revealed that hours before Prime Minister Narendra Modi’s address to the nation on demonetisation on 8 November 2016, the Reserve Bank of India (RBI) had rejected two of his key justifications — black money and counterfeit notes — for taking the decision.

12:40:02 on 09 Nov

Read more at The Quint

Arun Jaitley posted a strong defence of demonetisation on its second anniversary today as opposition parties targeted the govt and even demanded an apology from PM Narendra Modi. In a FB post, he described PM Modi's overnight ban on higher currency notes on November 8, 2016, as a "key step in a chain of important decisions taken by the govt to formalise the economy".

11:49:44 on 08 Nov

Read more at NDTV

Petrol and diesel prices in New Delhi witnessed a drop and will be sold at Rs 78.21 per litre (decrease by 21 paise) and Rs 72.89 per litre (decrease by 18 paise) respectively on Thursday. In Mumbai, a litre of petrol is being retailed at Rs 83.72 (decrease by Rs 0.20), while diesel is being sold at Rs 76.38 per litre (decrease by Rs 0.19).

11:26:01 on 08 Nov

The National Tiger Conservation Authority (NTCA) recommended complete rejection of the 164.44 km broad gauge Hubballi-Ankola Rail project that would have gone through the bio-diversity hot spots of Karnataka. They cite the extremely fragile ecosystem of the Western Ghats will not be able to sustain or buffer the impacts caused by the construction of the rail project.

09:25:02 on 08 Nov

The GI Registry has accepted the application seeking a GI tag for Erode turmeric. The application is filed by law firm GMS Law Associates, on behalf of Erode Manjal Vanigarkal Matrum Kidangu Urimaiyalargal Sangam . A GI tag is a sign used on products that have a specific geographical origin and possess qualities or a reputation by virtue of their geographical association.

07:41:01 on 08 Nov

Read more at The Hindu

Traders in Sadar Bazar here on Wednesday stuffed old firecrackers inside vegetables to protest the SC's order on use of green crackers this Diwali. Members of the Sadar Bazar Welfare Association sold firecrackers inside bitter gourds, cauliflowers, capsicums and ladies' fingers. SC had said people in the country can burst firecrackers from 8 pm to 10 pm on Diwali.

06:40:01 on 08 Nov

Two years after demonetisation was announced, the big impact seems to have been on rural India in two ways – one, the relative erosion of rural agricultural wages; and two, the fall in bargaining power of farmers in receiving an attractive price for their produce. Both may have contributed to the crisis in many parts of rural India.

10:25:01 on 07 Nov

Read more at Hindustan Times

The ferment in institutions such as the CBI recently and in the Supreme Court earlier this year are “internal issues,” and, therefore, call for “internal correctives,” Vice President M Venkaiah Naidu said here Tuesday. Speaking to The Indian Express, Naidu said “there is a self-correction needed in those institutions” and there have to be internal discussions.

08:26:01 on 07 Nov

Read more at Indian Express

In a significant move related to the proposed integrated steel plant in Kadapa, the AP Cabinet has resolved to set it up as a govt-owned entity with private participation and to form a SPV called RSC. This is in response to the Central govt dragging its feet on fulfilling the assurance to set up the steel plant in accordance with A.P. Reorganization Act, 2014.

09:25:02 on 06 Nov

Read more at The Hindu

The standoff between the RBI and the government has, in the last few days, escalated to an extent which is rare, if not unprecedented. While there are more than one bone of contention between the two, at the heart of it lies the government asking for a surplus transfer of Rs 3.6 lakh crore from the central bank and the RBI being in firm opposition to the idea.

06:40:01 on 06 Nov

Read more at The Quint

Former RBI Governor Raghuram Rajan defended the central bank's call for greater autonomy from the govt, saying ultimately the nation stands to benefit from an independent and robust RBI. In an interview on CNBC-TV 18 telecast on Tuesday Rajan said current rift between the RBI and the government can be resolved if both sides respect each other's intent and autonomy.

05:10:01 on 06 Nov

Read more at NDTV

The Hyderabad metro stretch between Ameerpet and Hitec City will begin service by the end of December this year, said NVS Reddy, the managing director of Hyderabad Metro Rail Limited on Monday. There are 10 stations along this stretch, which are part of Phase 3 of the Hyderabad Metro Rail Project.

03:10:01 on 06 Nov

Read more at The News Minute

China’s online giants Alibaba and are taking their battle for relevance in the lucrative luxury goods market to a new level, as they aim to crack e-commerce tie-ups with top brands that usually shun selling through third parties. From Hugo Boss to La Perla underwear, the online shopping giants have recruited dozens of labels since launching their rival luxury sites.

03:25:01 on 06 Nov

Read more at Deccan Chronicle

TCS was pulled up by a US jury asking why engineers hired at its American outposts are 13 times as likely to be fired if they’re not South Asian, according to a report by Bloomberg. The Indian IT outsourcing company will be going on trial on Monday in California over racial discrimination claims by American workers who lost their jobs at TCS offices in the US.

02:10:01 on 05 Nov

Read more at News 18

S Venkatesh, a B Tech student of Velagaleru in Krishna district, is a busy man these days. A potter by profession, he is busy making diyas for the festival of lights in front of his modest house. The average income of a family is just Rs 8,000 to Rs 10,000 a month.Though busy, things are not rosy for Venkatesh or the hundreds of other families of potters.

10:10:02 on 05 Nov

Regular savings bank accounts require customers to maintain a certain AMB every month. Leading banks such as SBI, HDFC Bank and ICICI Bank have fixed their monthly average balance requirements according to the location of a customer's account. Banks charge a penalty from the customers who fail to maintain an average monthly balance in their savings account.

02:55:01 on 05 Nov

Read more at NDTV

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 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 governor Raghuram Rajan on bad loans.

09:25:01 on 04 Nov

Gold edges up on festive demand

Gold prices recovered by Rs 20 to Rs 32,650 per 10g at the bullion market on festive season demand even as the precious metal weakened overseas. Tracking gold, silver too rose by Rs 30 to Rs 39,530 per kg. Traders attributed the moderate recovery in gold prices to fresh purchases by jewellers to meet festive season demand but a weak trend in global market capped the gains.

09:25:01 on 03 Nov

Read more at Deccan Chronicle

Grand Naine, a variety of large size banana produced using scientific-technological interventions in Theni district, is on its way to European countries now. This attempt is the first of its kind from India to Europe for banana crop. It paves way for opening up professional banana export from TN and explores the business opportunities for India grown banana varieties.

02:11:01 on 02 Nov

The U.S. has agreed to let eight countries -- including Japan, India and South Korea -- keep buying Iranian oil after it reimposes sanctions on the OPEC producer on Nov. 5. While the Trump administration's goal remains to choke off revenue to Iran's economy, waivers are being granted in exchange for continued import cuts so as not to drive up oil prices.

01:40:01 on 02 Nov

Read more at NDTV
Online pharmacies challenge Madras HC stay

Acting swiftly, online pharmacies, who were aggrieved over the interim stay granted, which banned sale of medicines online, have moved the HC to vacate the stay. They submitted that though the drugs are booked online, they are sourced from licensed pharmacies. The firms that deliver the medicines are doing only delivery services and do not actually sell medicines.

12:53:26 on 02 Nov

Apple reported a strong September quarter, registering $62.9 billion in revenue. Even as the company saw record iPhone sales globally, India continued to be a low point. Following the publication of Q4 earnings report, Apple CEO Tim Cook addressed the company’s dwindling position in India. Cook blamed weak currency for snail paced growth in emerging markets like India.

12:05:01 on 02 Nov

Read more at Hindustan Times

The world's second-largest payments processor Mastercard told the US government in June that Prime Minister Narendra Modi was using nationalism to promote the use of domestic payments network RuPay, and his government's "protectionist policies" were hurting foreign payment companies, a document seen by Reuters showed.

11:55:01 on 02 Nov

Read more at NDTV

In a good news for Delhi residents heading to work on Friday morning, the fuel prices in the national capital have been decreased further. While petrol price has been decreased by Rs 0.19, diesel rates have been slashed by Rs 0.14. After the cut, petrol will now be available at 79.18 per litre and diesel at Rs 73.64 per litre.

10:11:01 on 02 Nov

Read more at News 18

At first glance, this narrow lane in Old Delhi, just seemed like a place where it's impossible to not find a particular kind of light. It's crowded to the brim, with people pulling, pushing, and bargaining in the several tiny shops dotting both sides. If you're in Delhi and looking for lights to brighten up your home during Diwali, Bhagirath Palace is the place to be.

04:55:02 on 02 Nov

Read more at News 18

The Competition Commission is looking at algorithms used by airlines to determine fares, as part of a detailed probe into alleged fixing of air ticket prices, according to its chief Sudhir Mital. Currently, the fair trade regulator is investigating allegations of similar pricing as well as simultaneous increase in ticket prices by the airlines.

08:55:01 on 01 Nov

Read more at News 18

The rupee rallied by 50 paise to close at 73.45 against the US dollar on Thursday, posting its biggest single-session spurt in three weeks on increased selling of the greenback by exporters, softening crude oil prices and upbeat economic numbers. At the Interbank Foreign Exchange (Forex) market, the domestic unit opened higher at 73.88.

07:27:57 on 01 Nov

Read more at The Hindu

In a fresh crackdown on Sahara, regulator Sebi has found another group firm to have raised over Rs 14,000 crore in violation of rules and has ordered the company and its then directors including Subrata Roy to refund the money with 15 per cent annual interest. The order, also bars the company, SICCL, from the markets and from associating with any public entity

06:06:36 on 01 Nov

The BSE Sensex erased all gains in a highly volatile session to end 10 points lower as losses in shares of software exporters and pharmaceutical companies offset gains in capital goods, banking and auto counters. The benchmark indices swung between gains and losses, with Sensex gyrating over 376 pts both ways on alternate bouts of buying and selling.

05:11:01 on 01 Nov

Read more at Deccan Chronicle

India has jumped 23 spots to rank 77 out of 190 countries in the World Bank’s ‘ease of doing business’ ranking released on Wednesday. Last year, India had moved up 30 places to 100th position, showing an improvement on eight out of 10 indicators for “Doing Business”. On Tuesday, Commerce Minister Suresh Prabhu hinted that India is likely to move up the rankings.

06:50:49 on 31 Oct

Read more at Indian Express

The growth of eight infrastructure sectors slowed down to 4.3 per cent in September, the lowest in the last four months, as the production of crude oil and natural gas declined. Previously, the lowest growth rate was in May 2018 when the core sectors expanded at 4.1 per cent. Eight infrastructure sectors had grown by 4.7 per cent in September 2017.

06:28:51 on 31 Oct

Read more at Deccan Chronicle

Amid reports of its mounting tension with the RBI, the Finance Ministry Wednesday said the government has "nurtured and respected" autonomy of the central bank and has been holding extensive consultations with it on many issues. Both the government and RBI, in their functioning, have to be guided by public interest and the requirement of the Indian economy, it said.

01:39:51 on 31 Oct

India’s standing in the WB ranking of countries by ‘ease of doing business’ is set to improve, a year after the country jumped 30 places to clinch the 100th spot, a person familiar with the matter said, a day before the index is made public. The country recorded an impressive rise in the rankings last year on the back of policy reforms that improved business climate.

11:08:55 on 31 Oct

Read more at Hindustan Times

Reports on Wednesday, 31 October suggested that the government has issued “several” letters to the Reserve Bank of India initiating consultations under Section 7 of the RBI Act. The section allows it to issue directions to the central bank governor on matters of public interest. The development comes amid a widening rift between the Modi government and Patel.

10:05:04 on 31 Oct

Read more at The Quint

State Bank of India has reduced the per day cash withdrawal limit for all Classic and Maestro Debit Cards holders from Rs. 40,000 to Rs. 20,000 with effect from Wednesday. The decision has reportedly been taken by the bank to curb increasing instances of ATM frauds. According to bank's statement, for higher withdrawal limit, one can apply for higher card variant.

09:37:39 on 31 Oct

Read more at NDTV