News digest: PNB fraud, tax cuts on gold, pseudoscience, and more

Steel giant ArcelorMittal has signed a joint venture formation agreement with Japan's Nippon Steel & Sumitomo Metal Corporation

PNB chief Sunil Mehta admits the collusion of employees in LoUs scam

Punjab National Bank’s (PNB’s) managing director and chief executive, Sunil Mehta, admitted the collusion of employees in the letters of undertaking (LoUs) scam while being questioned by the Enforcement Directorate (ED) on Thursday, according to sources. Read More...

NITI Aayog panel recommends tax cuts on gold, revamping monetisation scheme

A committee of the NITI Aayog has recommended drastic cuts in taxes on gold and also proposed a more liberalised approach towards the yellow metal to increase its contribution to the gross domestic product (GDP) to 3 per cent by 2022. Read More...

ArcelorMittal signs JV agreement with Nippon for Essar Steel acquisition

Steel giant ArcelorMittal has signed a joint venture (JV) formation agreement with Japan’s Nippon Steel & Sumitomo Metal Corporation (NSSMC) to acquire and manage Essar Steel, currently undergoing proceedings under the Insolvency and Bankruptcy Code (IBC), subject to approval of its bid from regulatory authorities. Read More...

From cure in cow urine to 'superior child', pseudoscience inviting research 

A pregnant woman should wear a specific gemstone, clothes of specific colours, offer specific flowers to the gods and recite a specific chapter from The Gita to receive the benefits of planets that influence her and the foetus in each month of pregnancy. That was the advice Shraddha Vyas had for a group of Ayurveda practitioners, or vaidyas, who sat in a building named Kunverbhai Jain Dharamshala in Jamnagar district of Gujarat. Read More...

Compliance issues: BS-VI cars to remain a luxury until April 2020  

Delhi is one of the country’s top markets for vehicles, especially cars and sports utility vehicles. An early shift to Bharat Stage VI emission norms (in April 2018 against the national plan of an April-2020 roll-out) in the city is to regulate vehicular emission. Read More...