GS-III

However, rival ArcelorMittal has to clear the dues of 2 firms to be eligible to bid The National Company Law Appellate Tribunal (NCLAT) on Friday ruled as eligible the second bid of Russian VTB Bank-promoted consortium NuMetal for debt-ridden Essar Steel. And, rival bidder ArcelorMittal would have to first clear …

“They have moved as per schedule so far and we hope the handover will happen as agreed,” said an official informed of the matter. The positive observation came a day after Iran’s Transport Minister said here that Tehran would proceed with handing over responsibility of running the port to an …

As fuel prices soar, PM’s push for public transport gets attention What should the future of mobility be for India? “Safe, Adequate, Holistic Infrastructure or SAHI.” That is the recommendation of a report presented to Prime Minister Narendra Modi at the Global Mobility Summit, Move, in New Delhi on Friday. …

Individual houses to get incentivesto build toilets Four years into the Swachh Bharat programme, Bihar has finally given up on a model of only allowing community-based incentives for toilet construction. Two weeks ago, the State switched to allowing individual household-based incentives, according to Parameswaran Iyer, Secretary of the Department of …

State govt. awardsRs. 1.6 crore to‘Dhing Express’ The Assam government on Friday accorded Hima Das, India’s newest sprint star, a red carpet welcome on her arrival at the Lokapriya Gopinath Bardoloi International Airport in Guwahati. Almost everyone from Chief Minister Sarbananda Sonowal and Health Minister Himanta Biswa Sarma to Director …

In a significant move, Chinese smartphone maker Xiaomi has decided to migrate its cloud servers to India to store data locally. The migration would cover all Indian user data across Xiaomi’s e-commerce platform — (www.mi.com/in/), Mi Community (in.c.mi.com), Mi Cloud, MIUI (Xiaomi Market, feed, Mi Video, advertising, Mi Messaging, push …

Longer duration motor third party insurance cover is all set to become mandatory for new cars and two-wheelers as scheduled from September 1, with the Supreme Court on Friday refusing to extend the deadline. A bench of Justices Madan B. Lokur and S. Abdul Nazeer dismissed an application filed by …

Idea Cellular has merged Vodafone India with itself to create the country’s largest telco with a subscriber base of 408 million, overtaking Bharti Airtel. The merged entity, Vodafone Idea Ltd., will have Kumar Mangalam Birla as the chairman. However, both Vodafone and Idea that have a strong consumer base across …

Former Finance Minister P. Chidambaram, however, pointed out in a tweet, “Happy that the rate of growth has quickened, but…Q1 growth rate is based on the lowest base (5.6) in the last 8 quarters.” “Going forward, the base effect will not be so favourable. And when we reach Q3 and …

Milita Odisha Nisha Nibaran Abhijan (MONNA), an organisation of social activists pressing for complete prohibition in the State, will start a signature campaign in all the Assembly constituencies. The month-long campaign will start on September 2 from the Hinjli Assembly segment in Ganjam district, which is represented by Odisha Chief …

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 …