Business News

NEW DELHI, 12 Jan 2017/--/Union finance minister Arun Jaitley today said excessive use of paper currency is detrimental to society and hoped banking transaction charges will fall with the entry of new players. Expressing satisfaction that digitisation is expanding at a much faster space than...

Kolkata, 12 Jan 2017/--/Addressing the members of the MCC Chamber of Commerce & Industry (MCCI), Craig Hall, Consul General of the United States of America in Kolkata said that the strategic interest of the US Consulate was to facilitate Indian investments to US. The Consulate had also been...

KHARAGPUR, 12 Jan 2017/--/Private Life Insurer, Shriram Life Insurance Co. Ltd. inaugurated its office in Kharagpur. With this, Shriram Life has its presence in 19 locations of West Bengal with total of 601 branches Pan India. In last 3 years, Shriram Life has exponentially grown its branch network...

KOLKATA/NEW DELHI, 12 Jan 2017/--/Enthused by the acceptability of language versions of its mobile app, Indian mobile wallet service provider MobiKwik today released five more language versions to further connect with millions of customers who want to transact via their hand-held devices. The app...

Kolkata, 12 Jan 2017/--/Ghanshyam Singh, General Manager, Eastern Railway inspected Lalgola–Krishnanagar section of Eastern Railway’s Sealdah Division today. He inspected the Krishnapur station, Panel building, Booking office, TXR Office and inaugurated a Children Park in Krishnapur Railway Colony...

NEW DELHI, 12 Jan 2017/--/Moving ahead with the strategic sale of Pawan Hans, the Union government on Thursday said it would sell its entire 51 per cent stake and transfer the management control of the helicopter service operator. Pawan Hans is a joint venture where state-owned ONGC holds 49 per...

NEW DELHI, 12 Jan 2017/--/State-run NTPC has signed a non-binding agreement with Rajasthan Rajya Vidyut Utpadan Nigam Ltd and Rajasthan Urja Vikas Nigam Ltd for takeover of Chhabra Thermal Power Plant. "NTPC Ltd has signed a non-binding MoU with Rajasthan Rajya Vidyut Utpadan Nigam Ltd and...

NEW DELHI, 12 Jan 2017/--/Belying fears of a slowdown due to demonetisation, industrial production in November grew by 5.7 per cent compared to a contraction of 3.4 per cent in the same month a year ago. Factory output measured in terms of Index of Industrial Production (IIP) got a push in November...

NEW DELHI, 12 Jan 2017/--/Retail inflation eased further to nearly 3-year low of 3.41 per cent in December, reflecting weak demand as consumers grappled with cash crunch following demonetisation. The decline in retail inflation has been mainly on account of falling prices of vegetables and pulses....

NEW DELHI, 12 Jan 2017/--/Paving the way for Rs 3,050 crore cumulative penal action on telecom operators Bharti Airtel, Vodafone and Idea Cellular, the Attorney General is learnt to have opined that the Department of Telecom has power to impose penalty on grounds of poor quality of service. "AG has...

Mumbai, 12 Jan 2017/--/India's biggest software services firm TCS on Thursday reported 10.9 per cent jump in profit to Rs 6,778 crore for the third quarter of the current fiscal. It had reported net profit of Rs 6,110 crore in the October-December period of last fiscal. The operating profit was at...

NEW DELHI, 12 Jan 2017/--/The Supreme Court on Thursday refused to grant extension of time to Sahara chief Subrata Roy to pay Rs. 600 crore by February 6. The court observed that if Mr. Roy fails to pay the amount within the stipulated time, he should  commit himself to jail. A Bench of Chief...

NEW DELHI, 12 Jan 2017/--/The Centre's ambitious Digital India programme is facing multiple challenges in successful implementation due to lack of clarity in policies and infrastructural bottlenecks, according to a report. The issues pertaining to taxation and other regulatory guidelines have...

NEW DELHI, 12 Jan 2017/--/After residents, NRIs and People of India Origin (PIO) are now braving long queues to exchange the old Rs 500/1000 notes at 5 designated RBI branches across the country but because of stringent conditions several of them have had to return disappointed. Tempers ran high...

NEW YORK/NEW DELHI, 12 Jan 2017/--/US-based retail giant Walmart Stores' Indian arm has appointed Fortuna Public Relations as its communications advisor. Walmart India is a wholly owned subsidiary of Walmart Stores Inc, the world's leading retailer, and owns and operates 21 Best Price Modern...

NEW DELHI, 12 Jan 2017/--/Techno Electric & Engineering Company Thursday said it has sold 33 MW wind power asset in Tamil Nadu for Rs 165 crore. "Company has sold 33 MW Wind Power Assets situated in the state of Tamil Nadu at an effective valuation of Rs. 165.19 crore," Techno Electric &...

Jammu, 12 Jan 2017/--/The work on Jammu and Kashmir's first wind power project, to be built in Reasi district at an estimated cost of Rs 46 crore, will begin in 2017-18 fiscal, Finance Minister Haseeb Drabu has said. "National Institute of Wind Energy (NIWE), an autonomous institute under the...

Mumbai, 12 Jan 2017/--/The rupee Thursday staged a spectacular recovery against the American currency by surging 24 paise to end at one-week high of 68.08 on fresh bouts of dollar selling from banks and exporters. A rally in domestic equities along with heavy dollar unwinding by speculative traders...

NEW DELHI, 12 Jan 2017/--/Continuing uptrend for the third straight session, gold prices on Thursday rose by another Rs 150 to trade at an over one-month high of Rs 29,250 per 10 grams at the bullion market here on persistent buying by local jewellers and firming trend overseas. However, silver...

Mumbai, 12 Jan 2017/--/Tata Capital Housing Finance Thursday said it has reduced interest rates on home loans by up to 35 basis points (bps). For home loan up to Rs 75 lakh, rate has been reduced to 8.75 per cent from 9.10 per cent earlier. Women borrowers will get loans 0.5 per cent lower rate at...

Mumbai, 12 Jan 2017/--/To curb grey market and boost the organised players, the Gem and Jewellery Export Promotion Council (GJEPC) is expecting Finance Minister Arun Jaitley to reduce the import duty on gold to around 5 per cent in the upcoming Union Budget. "We are expecting the Finance Minister...

NEW DELHI, 12 Jan 2017/--/Rating agency Crisil Thursday announced the launch of a new credit rating framework for infrastructure projects that would facilitate greater participation from long-term investors and lenders. "Crisil, in consultation with the Ministry of Finance and other stakeholders,...

KOLKATA/NEW DELHI, 10 Jan 2017/--/Bharat Heavy Electricals Limited (BHEL) has bagged a prestigious order from Powergrid for the augmentation of three Extra High Voltage (EHV) substations in the state of Karnataka, on turnkey basis. Valued at Rs 96 crore, the order has been won against stiff...

KOLKATA/MUMBAI, 10 Jan 2017/--/On the occasion of National Road Safety week, United Spirits (USL) and Essar Oil Limited, have announced a path-breaking collaboration to create a paradigm shift in road safety in India. This programme that brings two big corporate houses together in a unique...

Kolkata, 10 Jan 2017/--/A high level safety meeting was held at Eastern Railway’s Headquarters at Fairlie Place today wherein all Principal Heads of Departments alongwith DRMs of Howrah, Sealdah, Asansol and Malda were attended the meeting. Ghanshyam Singh, General Manager, Eastern Railway honoured...