Economy

Guilty participants face temporary or permanent stoppage of access to markets The Reserve Bank of India (RBI) on Friday issued the draft guidelines on prohibiting market abuse, which propose to debar errant participants from accessing the market. “Participants found guilty of market abuse may be subject to regulatory action, including …

Only 10 States have revenue deficit of over 20%, says Jaitley The average revenue shortfall of States due to the Goods and Services Tax has fallen to 13% in the ongoing financial year up to August 2018, from 16% in 2017-18, Finance Minister Arun Jaitley said on Friday after the …

There is a dire need to develop and deepen the debt market, says the MD of Sundaram Finance Rates may have eased in the shorter-end with the Reserve Bank of India (RBI) relaxing the SLR (statutory liquidity ratio) norms but liquidity, especially in the longer-end, is a challenge, according to …

Bank had to cut promoters’ stake to 40% by August 22 which was not done The Reserve Bank of India (RBI) has cracked the whip on Bandhan Bank freezing the remuneration of its MD and CEO Chandra Shekhar Ghosh for not bringing down promoters’ shareholding in the bank to 40% …

Garden Reach extends IPO closure date, lowers price band to get fully subscribed The underlying weakness of the secondary markets and increased volatility have taken a toll on the primary market with two issues, including a government-backed offering, facing difficulties in getting fully subscribed. Garden Reach Shipbuilders & Engineers — …

Swedish Air chief on tech transfer If India chooses the Gripen fighter jet, then the choice of the private Indian company to partner with Sweden’s SAAB to build the aircraft should be the Indian Government’s and “nobody else’s”, Swedish Air Force chief Major General Mats Eric Helgesson said on Thursday. …

  Global Language Park in Pune to promote linguistic diversity In what is certainly the first such experiment in the country, and perhaps the world, the eminent linguist Ganesh Devy plans to set up a Global Language Park ( bhasha van in Hindi) in Pune. It will be located on …

Kerala government will have to scale up security and provide more facilities Crowd management and scaling up of security infrastructure in Sabarimala and its precincts to host thousands of women pilgrims following the Supreme Court verdict will throw new challenges for the Kerala government and the Travancore Devaswom Board. Board …

The district has now become the grain basket of the State, says Chief Minister Patnaik In the 1980s, Kalahandi was a synonym for poverty. Today, Odisha’s western district is ready to shed its image of being a land of perpetual poverty. The progress made by the district in different fields …

IHCL bid for 32.5% of gross turnover wins in NDMC auction The Taj Mahal Hotel on Mansingh Road in Lutyens’ Delhi will remain with the Tata Group’s Indian Hotels Company Limited (IHCL), which won the auction for a 33-year lease on Friday, the New Delhi Municipal Council (NDMC) said. The …

The Union Cabinet approved increasing the government’s ownership in the Goods and Services Tax Network (GSTN) to 100% from the existing 49% and also change the existing structure in line with a transition plan. “The Union Cabinet approved acquisition of the entire 51% equity held by the non-government institutions in …

Proposes to attract $100 bn investment in digital communications sector The Union Cabinet on Wednesday approved the new telecom policy that aims to provide broadband access to every citizen at 50 Mbps speed by the year 2022. The National Digital Communications Policy 2018, which envisions attracting $100 billion investments into …

Direct shipments of almonds from California to India grew by 68% from 53,965 tonnes to 90,500 tonnes between 2011-12 and 2017-18, according to the Almond Board of California (ABC). ABC president and CEO Richard Waycott told The Hindu that the board was now targeting to sustain 20% year-on-year growth rate …

Cabinet clears Rs. 5,538-crore proposal that includes higher production aid to ryots For the fourth time in the last five months, the Centre has approved incentives to help the cash-starved sugar mills clear thousands of crore in arrears of payment to cane farmers. On Wednesday, the Cabinet Committee on Economic …

The government on Wednesday released a list of 19 categories of items on which it would be hiking import duties, which include white goods such as air-conditioners, refrigerators and washing machines as well as non-essential items such as gems, travel bags and aviation turbine fuel (ATF). The new rates will …

Greenpeace activists on Tuesday scaled storage tanks at an Indonesian palm oil refinery along with a popular rock band which played pro-environment songs, protesting against a commodity found in everything from soap to biscuits. The green group said 30 activists and Indonesian metal group Boomerang had been “occupying” the site …

India ranks 158th in the world for its investments in education and health care, according to the first-ever scientific study ranking countries for their levels of investment in human capital. The nation is placed behind Sudan (ranked 157th) and ahead of Namibia (ranked 159th) in the list. The U.S. is …

Udalazhamtells the story of A. Raju who was born in a tribal settlement inside the Nilambur forest in Kerala While the country continues to debate social exclusion and marginalisation of the third gender, the life and struggles of Kerala’s only known tribal transgender, who died seven months ago, is now …

The Supreme Court wants the government to quickly fill the vacancies at the Securities Appellate Tribunal (SAT), which is an important appellate body for filing appeals against orders passed by the capital market, insurance and pension regulators. While hearing an appeal filed by Quantum Securities, the apex court highlighted the …

Short-term power trading volumes for delivery, on Tuesday, hit an all-time high of 268.3 million units (MU) at the Indian Energy Exchange, in the wake of a surge in demand for electricity in the eastern, southern and western States mainly due to inadequate supply of coal and decrease in wind …