GS-III

Mahindra First Choice Services to raise Rs. 125 cr.

Mahindra First Choice Services to raise Rs. 125 cr.

Mahindra First Choice Services (MFC), part of the $20.7 billion Mahindra group, is open to talks with strategic investors to raise Rs. 125 crore. “We need at least Rs. 125 crore to accelerate our expansion programme,” said CEO YVS.Vijaykumar. “The funds will be invested in technology and brand building.”He said …

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Note ban woes still rankle in farm belt

Note ban woes still rankle in farm belt

Congress president Rahul Gandhi’s repeated attacks on Prime Minister Narendra Modi over demonetisation at election meetings in Madhya Pradesh led the Prime Minister to declare that Mr. Gandhi’s party is yet to revive from the “shock” inflicted by the note ban.“Only the Congress and one family are still crying because …

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India to study marijuana-derived drugs

India to study marijuana-derived drugs

Three major science administrators in India — the Council of Scientific and Industrial Research, the Indian Council for Medical Research and the Department of Biotechnolgy — are getting together to promote research in herbal drugs, some of which involve deriving new drugs from marijuana.Among the first such studies likely to …

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Lunar lander faces crucial test

Lunar lander faces crucial test

The Chandrayaan-2 lunar lander’s sensors are set to undergo a crucial test in the next few days as the mission races towards a planned take-off in around two months.The Indian Space Research Organisation (ISRO) plans to fly the sensors on an aircraft over its artificial lunar site at Challakere to …

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Why the RBI board needs to be recast

Why the RBI board needs to be recast

At the height of the global financial crisis in 2008 when liquidity crunch hit the Indian credit market, the then finance minister P. Chidambaram constituted a liquidity management committee headed by the then finance secretary Arun Ramanathan. The decision raised eyebrows as liquidity management is a key function of the …

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Falling crude puts OMC pricing under scanner

Falling crude puts OMC pricing under scanner

Are oil marketing companies recovering the Rs. 1 per litre price cut of October 4 which they had made on the Centre’s instructions and absorbed into their financials?While oil marketing companies (OMCs) deny that they are doing so, , analysts argue that the pricing mechanism is so opaque and complex …

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RBI carries the bat

The Reserve Bank of India seems to have carried the day, after all, in Monday’s marathon 9-hour board meeting. Going by the brief statement that it put out, of the six deliveries that it had to play, the RBI has shouldered arms to two — PCA relaxation and capital framework …

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Talks on with 150 nations to reform WTO: Prabhu

Multilateral trading system is under stress, says Minister Commerce Minister Suresh Prabhu on Monday said he was in talks with at least 150 countries to work out the way forward for reforming the World Trade Organisation (WTO). He said that the multilateral trading system was under stress and a number …

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SEBI acts on illiquid options trade manipulators

SEBI acts on illiquid options trade manipulators

The Securities and Exchange Board of India (SEBI) has started acting against entities that are alleged to have executed manipulative and orchestrated non-genuine trades in the illiquid stock option segment of BSE almost five years ago.The penalty, however, imposed in most cases has been the minimum stipulated Rs. 5 lakh, …

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Army selects Russian Igla-S missile

India has picked Russia’s Igla-S missile system as the choice for the Army’s multibillion dollar contract for man-portable air defence systems, officials said on Monday. “The Igla-S bid from Rosoboronexport of Russia has been declared the L1 in the Very Short Range Air Defence (VSHORAD) deal,” said a defence official …

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