Daily Archives: October 4, 2018

Japan drops new robot on asteroid

The German-French observation device is part of a mission to find clues to the solar system’s origins A Japanese probe launched a new observation robot towards an asteroid on Wednesday as it pursues a mission to shed light on the origins of the solar system. The Hayabusa2 probe launched the …

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PIN code a must for e-way bill

Tightening the norms for issuance of e-way bill, the GST Network has made it mandatory for businesses and transporters to mention PIN codes of places of loading and unloading of consignments. Quoting of PIN codes will help in calculating the correct distance and determine the validity of the e-way bill, …

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Lenders keep their fingers crossed

BoI has highest exposure with Rs. 2,388 cr., followed by SBI at Rs. 2,140 crore Lenders to the crisis-hit Infrastructure Leasing and Financial Services, which has dues of Rs. 34,480 crore are keeping their fingers crossed. Almost all the public sector banks have exposure to the group companies of IL&FS. …

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Crisis blew up when banks stopped funding

With banks stopping refinancing and major shareholders not agreeing on fresh equity infusion, IL&FS started facing a liquidity crunch leading to loan defaults, according to a former board member. As long as banks were refinancing, there was no asset-liability mismatch. However, such refinancing started drying up since 2015, which forced …

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Floor price for rabi crops hiked

Move will provide additional return of Rs. 62,635 crore to farmers: Centre In what should come as a boost to farmers, the Union Cabinet on Wednesday approved raising the minimum support prices of rabi crops such as wheat, barley, gram, masur, rapeseed and mustard, and safflower for 2018-19. “Giving a …

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‘A default by IL&FS would have been catastrophic’

Firm had a non-functioning Risk Management Committee that met just once, says govt.Default by firm could have led to cancellation of licences of 1,500 smaller NBFCsConsolidated group loss of Rs. 2,670 cr. in2017-18 and a leveraging of 13 times equity Concerns of a “catastrophic” impact on the financial markets if …

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Trio gets Chemistry Nobel

They harnessed the power of evolution to produce novel proteins Two Americans and a Briton won the 2018 Nobel Prize for Chemistry on Wednesday for harnessing the power of evolution to produce novel proteins used in everything from environmentally friendly detergents and biofuels to cancer drugs. The fruits of this …

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‘Will return to Maldives come what may’

Former President of the Maldives and exiled leader Mohamed Nasheed on Wednesday said he intends to return to the troubled island nation soon, “come what may”. Regarded a “fugitive” by the outgoing President Abdulla Yameen’s administration, Mr. Nasheed has been living in exile the last couple of years, largely in …

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