India aspires to and moving towards a $5 trillion economy: PM
Sunday, February 18, 2018, 10:06 PM
Prime Minister Narendra Modi on Sunday reiterated that India aspires to, and is moving towards, a $5 trillion economy over the next few years with sustained, comprehensive and holistic development. Inaugurating the first mega global investors summit, "Magnetic Maharashtra: Convergence 2018" here, he said the country is on the firm path of development simultaneously with the development of the states.
ED conducts searches at Gitanjali Gems stores in city malls
Sunday, February 18, 2018, 10:02 PM
The Enforcement Directorate (ED) today conducted search operations at Gitanjali Gems stores located in shopping malls here and at Rajarhat, in connection with the Rs 11,400-crore Punjab National Bank fraud. A senior ED official told PTI that its officers conducted searches at five malls which house Gitanjali Gems stores, including in Salt Lake and Rajarhat.
LG to launch IoT enabled ceiling fans in Indian market by June
Sunday, February 18, 2018, 9:50 PM
South Korean consumer electronics maker LG would foray into the premium ceiling fans segment this season, which will have advanced features such as the Internet of Things (IoT) technology, a top company official has said. The smart fans would be connected to the Internet and would automatically adjust its speed according to change in temperature and could be controlled from anywhere through cloud computing.
Remove T20 cricket from international schedule - Trevor Bayliss
Sunday, February 18, 2018, 9:43 PM
England coach Trevor Bayliss has called for less Twenty20 cricket to be played on the international calendar and predicted that the format will become increasingly separated from the sports longer forms in future. Bayliss' side was eliminated from the trans-Tasman tri-series in New Zealand on Sunday, having won only one of their four matches in a tournament dominated so far by Australia.
Government transforming aviation sector: Narendra Modi
Sunday, February 18, 2018, 9:38 PM
The government is transforming the aviation sector and focusing on providing connectivity and making air travel affordable, Prime Minister Narendra Modi said today. "Our aviation sector is growing tremendously. This makes quality infrastructure in the aviation sector important. Our government brought an aviation policy that is transforming the sector," he said.
RIL plans Rs 60,000-cr digital industrial area in Maharashtra
Sunday, February 18, 2018, 7:59 PM
Mukesh Ambani said his firm RIL and its global partners will set up the country's first integrated digital area in Maharashtra entailing investments of Rs 60,000 crore. "Reliance along with other global companies will invest over Rs.60,000 crore in the next 10 years in Maharashtra, which will be the first integrated digital industrial area in the country," Ambani said.
Industry cites glitches in GSTN portal as major concern: Survey
Sunday, February 18, 2018, 7:52 PM
Glitches in the GSTN portal, cumbersome procedures and documentation as well as the cost of compliance are major areas of concern that need to be addressed to make the Goods and Services Tax (GST) a success, a Ficci survey said on Sunday. All the respondents to the survey pointed out issues with the robustness and volume handling capacity of the GST Portal, it said.
Make Pluto a planet again, 6-year-old girl urges NASA
Sunday, February 18, 2018, 7:38 PM
Six-year-old Cara O'Connor of Ireland, who dreams of becoming a NASA astronaut one day, wrote a letter to the space agency urging it to reclassify Pluto as a planet, The Washington Post reported this week. Pluto was downgraded from a planet to a dwarf planet in 2006 by the governing body of astronomy, the International Astronomical Union (IAU).
PNB fraud: ED raids over 45 locations in 15 cities
Sunday, February 18, 2018, 7:33 PM
The Enforcement Directorate conducted searches at over 45 more locations in 15 cities across India in connection with the multi-crore PNB fraud, an official said. The agency raided 10 places in Bengaluru, seven in Delhi, five each in Kolkata and Mumbai, four each in Chandigarh and Hyderabad, three each in Patna and Lucknow, two in Ahmedabad and one each in Chennai and Guwahati.
Financial conditions deteriorate in Jan-Mar: Report
Sunday, February 18, 2018, 6:09 PM
An index mapping the country's short-term financial conditions has plunged over 12 points for the fourth quarter of the current fiscal ending March 31, as compared to the previous quarter. The CII-IBA Financial Conditions Index stood at 53.2 for the fourth quarter(Q4) of 2017-18 as against 65.3 in the October to December period.
PNB fraud case: Officials of other banks under scanner
Sunday, February 18, 2018, 6:05 PM
As investigations into the Rs.11,400 crore scam at PNB gather momentum, officials at overseas branches of other banks, where the fraudulently issued Letter of Undertaking were encashed, are under scanner. Officials of Hong Kong branches of Indian lenders including Allahabad Bank, State Bank of India, Union Bank, UCO Bank and Axis Bank are part of the entire fraud which continued for 7 years.
New upgraded coaches in trains ' patronized by poor'
Sunday, February 18, 2018, 5:56 PM
The railways will now deliver gold-standard coaches, meant for Rajdhani and Shatabdi trains, to trains "patronized by the poorest of the poor", a note from a meeting of senior railway board officials has said. The upgradation work will be done under the project Swarna, which was launched last year to refurbish railway coaches but covered only the premium Rajdhani and Shatabdi trains.
More than 40 Indian languages may be heading for extinction: Official
Sunday, February 18, 2018, 5:45 PM
More than 40 languages or dialects in India are considered to be endangered and is believed to be heading towards extinction as only a few thousand people speak them. According to a report of the census directorate, there are 22 scheduled languages and 100 non-scheduled languages in the country which are spoken by a large number of people - one lakh or more.
The 21st century is the age of "knowledge economy": Ram Nath Kovind
Sunday, February 18, 2018, 5:37 PM
President Ram Nath Kovind today said the 21st century was the age of "knowledge economy" and the power of new ideas and innovation was greater than money. He said a sustainable development of the human society was possible through the confluence of Indian values and modern science and technology. Kovind was addressing the diamond jubilee celebrations of University of Delhi's PGDAV College here.
RBI to maintain status quo through first half of this year: Report
Sunday, February 18, 2018, 5:27 PM
The Reserve Bank is expected to be in the wait-and-watch mode in the near term and is likely to maintain status quo, through the first half of this year. According to Kotak Institutional Equities, besides rising retail inflation, the other factors that are expected to keep RBI's Monetary Policy Committee on guard include clarity on monsoons, MSP hike decisions and crude oil prices.