Economy

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. …

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 …

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 …

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 …

Centre’s nod for mental health institute in M.P. The Union Cabinet on Wednesday approved the setting up of the National Institute of Mental Health Rehabilitation in Madhya Pradesh’s Sehore. The latest approval revises a government decision in May which chose Bhopal as the location. Source :  https://www.thehindu.com/todays-paper/tp-national/centres-nod-for-mental-health-institute/article25117087.ece

Nagaland Chief Minister Neiphiu Rio on Wednesday launched the Measles-Rubella Vaccination Campaign (MRVC) in the State targeting to vaccinate 4.72 lakh children in the age group of 9 months to 15 years during the next five weeks.PTI Source :  https://www.thehindu.com/todays-paper/tp-national/nagaland-cm-launches-vaccination-campaign/article25117455.ece

Air India will launch six new flights this month to New York, Frankfurt, London, Bangkok and Jaipur as part of its plans to better utilise its aircraft, some of which have been lying idle for the past several months due to lack of funds for maintenance. The airline will introduce …

Days after the Union Health Ministry ordered an inquiry into the Type-2 polio virus contamination detected in the vials used for immunisation in Uttar Pradesh, Maharashtra and Telangana and ordered for additional immunisation in the three States, the ministry on Wednesday issued a statement stating that “India was certified polio-free …

The National Green Tribunal on Wednesday came down heavily on the National Highways Authority of India for not maintaining green cover along national highways. Rapping the NHAI for not implementing the policy to maintain a mandatory green cover along the highways, a Bench headed by NGT chairperson Justice Adarsh Kumar …

The way forward has to be through fuels found above the ground, PM tells ISA Prime Minister Narendra Modi on Tuesday urged world leaders to move towards a future of ‘one world, one sun, one grid’ in which countries around the world would share electricity so that none is without …

Shareholders say they will decide on rights issue after board’s deliberations at the meeting on Oct. 8 All eyes are on the first board meeting of Infrastructure Leasing & Financial Services’ (IL&FS), as shareholders said a decision would be taken on the rights issue after the board’s deliberations. The board …

More than 94% of rural households across the country have now been declared open defecation free in comparison to just 39% when the mission was launched four years ago. The PM’s deadline to eradicate open defecation in the country is Mahatma Gandhi’s 150th birth anniversary on October 2, 2019. “Between …

25 lakh vulnerable populace to benefit The Naveen Patnaik government launched its own food security scheme on the occasion of Gandhi Jayanti on Tuesday, benefiting 25 lakh people who were left out of the National Food Security Act. “On Gandhi Jayanti, launched Odisha’s own food security scheme to benefit 25 …

‘Countries need to make policy shifts and invest more’ The world will not reach the goal of universal sanitation coverage – where every person has access to toilets – by 2030 unless countries make comprehensive policy shifts and invest more funds, the World Health Organization (WHO) warned on Tuesday as …

Facility at Marine Drive cost Rs. 90 lakh Mumbai’s first Rs. 90 lakh clean-technology toilet was thrown open to the public at Nariman Point along Marine Drive on Tuesday. The environment-friendly toilet block, an initiative of the Brihanamumbai Municipal Corporation (BMC),and Nariman Point Churchgate Citizens’ Association (NPCCA), will serve the …

3,700 tractors, a few hundred buses and trollies took part in the journey, say participants Members of the Bhartiya Kisan Union (BKU) sat on the road, inside their tractors, on pavements and on barricades installed by police near east Delhi’s Ghazipur at the Delhi-Uttar Pradesh border on Tuesday. Though, they …

Drug major Lupin on Monday announced partnership with Eli Lilly and Company (India) to distribute Eli Lilly’s diabetes injection Aplevant in the country. Lupin said the expansion of the business partnership with Eli Lilly is aimed at widening access to diabetes medicines in India. Lupin will distribute and market Lilly’s …

International Monetary Fund (IMF) appointed India-born Gita Gopinath as Economic Counsellor and Director of the IMF’s Research Department. Ms. Gopinath will succeed Maurice (Maury) Obstfeld, who announced he would retire at the end of 2018, an official statement said on Monday. Source : https://www.thehindu.com/todays-paper/tp-business/gita-gopinath-is-imf-chief-economist/article25100829.ece

Collections from the Goods and Services Tax (GST) in September increased marginally to Rs. 94,442 crore from the Rs. 93,690 crore collected in August. “The total gross GST revenue collected in the month of September 2018 is Rs. 94,442 crore of which CGST is Rs. 15,318 crore, SGST is Rs. …

Growth in new orders, gains in output and employment boosts index Manufacturing activity improved in September on the back of stronger gains in new orders, output, and employment, according to a private sector survey. The Nikkei India Manufacturing Purchasing Managers’ Index (PMI) rose to 52.2 in September from 51.7 in …