GS-III

India remains a preferred destination for foreign direct investment (FDI) as domestic consumption remains strong, according to the RBI Annual Report. With manufacturing sector gathering momentum, helped by both services and agriculture sectors, consumption demand remains robust in the country making it an attractive investment destination, the report said. India …

The Cabinet on Wednesday approved an increase of 79.3% in the project outlay for setting up the India Post Payments Bank to Rs. 1,435 crore. The move comes three days ahead of the nationwide roll-out of the payment bank by Prime Minister Narendra Modi. The additional sum of Rs. 635 …

Power generator NTPC is undertaking due diligence of some of the stressed power assets in the country. NTPC was not averse to acquiring them as long as they met a certain criteria, a top official of the public sector enterprise said, adding: “We are evaluating… already due diligence is being …

Production of refined copper has slumped by 47.1% during the first quarter of FY19. This is primarily attributed to the shutdown of the 400 KT (kilo tonne) Thoothukudi smelter of Sterlite Copper, which accounted for 40% of the country’s copper smelting capacity. Domino effect The decline in domestic production has …

Beginning September 1, motor third party (MTP) insurance for new cars and two-wheelers will be issued for a longer duration as opposed to one year now. From next month, motor third party insurance for new cars will have to be purchased for a period of three years. For new two-wheelers, …

The number of cases of fraud reported by banks increased both in terms of numbers and value in 2017-18, the Reserve Bank of India said in its annual report. Fraud cases, which were generally hovering at about 4,500 in the last 10 years, increased to 5,835 in 2017-18, the report …

State-owned Indian Oil Corporation Limited (IOCL), India’s largest fuel retailer is planning to almost double its retail outlets to more than 52,000 in the next three years, from 27,000 now to maintain its market leadership in fuel retail. These include both company-owned and franchisee-run outlets. Together, state-owned oil marketing companies …

The Reserve Bank of India (RBI) has warned about upside risks to inflation during the remaining part of the current financial year, ‘warranting vigil and readiness’ to deal with them. The risks could emanate from rising commodity prices, especially crude oil, global financial market developments and second-round impact from revision …

A grade separator at the Karnataka Polytechnic Junction and an overpass at Nanthoor Junction here will be built under the Sagar Mala Project, according to Nalin Kumar Kateel, Member of Parliament, Dakshina Kannada. Speaking at a function organised by Mangaluru City Corporation to launch 27 new development projects and inaugurate …

The Reserve Bank of India’s annual report for 2017-18 said more than 99% of the Rs. 500 and Rs. 1,000 notes withdrawn from circulation in November 2016 had been returned to the central bank. According to the report, after verification and reconciliation, the total value of the Rs. 500 and …