Page 19 - Bs Reads

Cabinet extends IVFRT scheme for 5 years to upgrade immigration services

The Union Cabinet on Wednesday approved the extension for five years of the Immigration, Visa, Foreigners Registration & Tracking (IVFRT) Scheme, which aims to interlink and optimise functions related to immigration, visa issuance, and registration of foreigners in India. The Cabinet, chaired by Prime Minister Narendra Modi, approved the continuation of the scheme from April 1, 2026, to March 31, 2031, with a budget outlay of Rs 1,800 crore, a government statement said. The continuation of the scheme is not just a "technical upgrade, but a strategic transformation" aligned with the vision of the government to promote international mobility through a world-class immigration and visa issuance system, it said. "After the recent enactment of the Immigration and Foreigners Act, 2025 and its subsequent Rules and Order, it has become imperative to strengthen and modernize the Immigration, Visa, Foreigners Registration & Tracking (IVFRT) system to effectively meet emerging ...

India ready for peak power demand, but supply, transmission risks remain

India is better prepared to meet a record 270 Gw peak power demand this summer, supported by strong coal stocks and renewables, though geopolitical tensions and grid constraints pose risks

Govt asks RBI to maintain 4% retail inflation target till March 2031

The government on Wednesday asked the Reserve Bank to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side for another five years ending March 2031. To control the price rise, the government in 2016 gave a mandate to the RBI to keep the retail inflation at 4 per cent with a margin of 2 per cent on either side for five years ending March 31, 2021. Subsequently, in March 2021, the government maintained the same target. This is the second time the government has retained the inflation target. The central government, in consultation with the Reserve Bank, hereby notifies the inflation target for the period beginning April 1, 2026, and ending on March 31, 2031, a gazette notification issued by the Department of Economic Affairs dated March 25 said. According to the notification, the inflation target is 4 per cent with an upper tolerance level of 6 per cent and a lower tolerance level of 2 per cent. India adopted the inflation-targeting framework and formall

The Khilafat movement united India briefly, but deepened its divides

How a mass movement in India, centered on a grievance among Muslims, could have prevented the Partition in an alternative vision of history

NDR InvIT raises ₹410 crore via bonds to expand warehousing portfolio

NDR InvIT Trust on Wednesday announced raising Rs 410 crore through the issuance of bonds primarily for the acquisition of logistics and warehousing portfolio across key markets in the country. The issuance was anchored by the International Finance Corporation (IFC), with participation from India Infrastructure Finance Company Limited (IIFCL), which subscribed to Rs 205 crore of the total issue, NDR InviT said. The bonds are secured, rated, listed, redeemable non-convertible debentures with a tenor of 5-years and carry a coupon of 7.61 per cent. "NDR InviT announces the successful closure of its Rs 410 crore bond issuance, which was fully subscribed, reflecting strong investor demand for high-quality infrastructure-backed assets," the company said. The issuance is rated AAA (Stable) by leading rating agencies, indicating a high degree of safety regarding timely servicing of financial obligations, the company said, adding the strong participation from marquee institutional investors

Meta is laying off hundreds of employees across multiple teams: Report

Meta had nearly 79,000 employees as of December 31, according to its annual filing

BBC names former Google executive Matt Brittin as new director-general

Former Google executive Matt Brittin will be the new director-general of the BBC, the broadcaster announced Wednesday, taking the helm as the UK's national broadcaster faces an uncertain future and a USD 10 billion lawsuit from US President Donald Trump. Brittin, 57, spent almost two decades at Google, becoming the company's president in Europe, the Middle East, and Africa. He does not have a background in broadcasting. He said the 104-year-old BBC is "an extraordinary, uniquely British asset." "Now, more than ever, we need a thriving BBC that works for everyone in a complex, uncertain and fast changing world," he said in a statement. Brittin will start the job on May 18. He replaces Tim Davie, who resigned in November over criticism of how the broadcaster edited a speech Trump made on January 6, 2021, before some of the president's supporters stormed the US Capitol. A documentary aired days before the 2024 presidential election spliced together three quotes from the speech into w

Sula Vineyards acquires Chandon's wine facility, estate in Nashik

Wine producer Sula Vineyards on Wednesday announced the acquisition of Chandon's wine production facility and estate in Dindori, Nashik, for Rs 20 crore, which will help expand its wine tourism footprint. Sula Vineyards is pleased to announce that it has signed a definitive agreement with Moet Hennessy India to acquire Chandon's estate in Dindori, Nashik, for Rs 20 crores, which will be raised through internal accruals, according to a statement. Chandon's wine production facility spreads across 19 acres, comprising a highly advanced facility with an annual capacity of 4.5 lakh litres, scalable up to 13 lakh litres. The acquisition is being undertaken through the company's wholly-owned subsidiary, Artisan Spirits (ASPL) and is expected to close by the end of the first quarter of FY27, subject to completion of regulatory approvals. Following completion, Chandon will cease wine production in India, and Sula will market wines produced from the estate under its own portfolio, with no ..

West Asia crisis: 426,000 passengers have returned to India, says MEA

Amid the West Asia conflict, a total of 1,043 Indian nationals, including 717 students, have crossed out of Iran with the assistance of the mission in Tehran, the Ministry of External Affairs said on Wednesday. At an inter-ministerial briefing here on the West Asia situation, Aseem R Mahajan, Additional Secretary (Gulf), MEA, also said the overall flight situation continues to improve, and that around 4.26 lakh passengers have returned from the region to India since February 28. "During this period, a total of 2,149 flights, including scheduled and non-scheduled flights of Indian as well as foreign carriers, have operated from the region to India," he said. The MEA said it continues to closely monitor the evolving situation in the Gulf and the West Asia region. "We are according the highest priority to ensure the safety, security, and well-being of the large Indian community in the region," Mahajan said. The ministry's dedicated Control Room remains operational to address queries

Iran rejects Trump's 15-point ceasefire plan, presents its own 5 demands

Tehran termed the US proposal excessive, and said it would continue operations; it also outlined five conditions including security guarantees and control over the Strait of Hormuz

RBI rejects all treasury bill bids as investors seek higher returns

The Reserve Bank on Wednesday rejected all bids for treasury bills offered at auction, as investors demanded yields that were 0.05-0.10 percentage points higher than those seen in previous auctions amid tight liquidity conditions in the banking system, market participants said. The central bank did not accept any investor bids for 91-day, 182-day and 364-day T-bills. The RBI announced the auction of short-term government securities on February 21. "Tight liquidity in the banking system has prompted investors to bid 0.05-0.10 per cent higher cut-off yields at the auction, which the RBI rejected," said Balasubramanian R, head of treasury at Dhanlaxmi Bank. The Government of India issues treasury bills (T-bills) as money market instruments that function as promissory notes, guaranteeing repayment at a later date. Typically, banks, primary dealers, retail investors, and institutional investors participate in these auctions. Treasury bills are short-term borrowing instruments with ...

IBC helped recover over ₹4 trillion in last decade: Anurag Thakur

The introduction of the Insolvency and Bankruptcy Code (IBC) has led to the recovery of over Rs 4 lakh crore in the last decade through the resolution of bankrupt companies, senior BJP MP Anurag Thakur said in the Lok Sabha on Wednesday. Participating in the debate on the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, Thakur said IBC is not a recovery mechanism but a revival and resurrection of the company. The IBC enacted in 2016 has done a recovery of 50 per cent, while the SARFAESI Act, 2002 (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) has done a recovery of 20 per cent, and the Debts Recovery Tribunals have done a recovery of 10 per cent, he said, adding, "This indicates greater efficiency of IBC." It has changed the debtor-creator relationship and companies and promoters are afraid of getting into insolvency after IBC. Citing instances, he said, about 32,000 applications have been withdrawn and the underlying debt of more

Sonia Gandhi to remain under medical observation for a few more days

Veteran Congress leader Sonia Gandhi, who is admitted at Sir Ganga Ram Hospital here, is stable and under close medical supervision, doctors said on Wednesday. According to hospital authorities, she was admitted at around 10.22 pm on Tuesday. Chairman Dr Ajay Swaroop said that her condition remains stable and a team of doctors is closely monitoring her health. Doctors are conducting further examinations to check for a possible infection in the stomach and urinary tract, and antibiotics have been administered as part of the treatment, the hospital said. Sources had earlier said that Gandhi was unwell, possibly due to the weather change, and was admitted for observation. They said there is no cause for concern and her condition is not serious.

Businesses can pay customs duty via UPI, cards on ICEGATE portal: CBIC

Businesses can now use UPI, debit or credit cards for paying Customs duty on the ICEGATE portal, the Central Board of Indirect Taxes and Customs (CBIC) has said. The CBIC in a circular said ICEGATE e-Payment platform has enabled 'Payment Aggregator' as an authorised mode to facilitate customs duty payment. ICEGATE essentially functions as the digital backbone of Indian customs and acts as an interface through which importers and exporters file documents, track clearances, and discharge duty payments. While the system has evolved significantly over the time, the payment mechanism remained largely anchored to a limited set of authorised banks and conventional channels such as net banking and NEFT/RTGS. "With the rollout of a payment aggregator on ICEGATE, duty payments are no longer confined to specific banking channels. Businesses can now use UPI, debit or credit cards, and access a significantly wider banking network bringing a greater degree of ease and convenience in making paymen

Questions on caste to be notified before second phase of Census 2027: Govt

The questions on caste to be asked by enumerators will be notified before the commencement of the second phase of the Census 2027, Rajya Sabha was informed on Wednesday. In a written reply, Minister of State for Home Affairs Nityanand Rai said the questions will be finalised on the basis of inputs and suggestions received from different ministries, departments, organisations, Census data users, etc., before each Census. "The questions, including on caste, for the second phase will be finalised and notified as per the established procedure," he said. The Census will be conducted in two phases - houselisting and housing census from April to September 2026, and population enumeration (PE) in February 2027. The houselisting and housing census will systematically list all structures, houses and households throughout the country to provide a sound framework for the conduct of the population enumeration. The Union Cabinet has approved Rs 11,718 crore for conducting the Census of India, 2

Power ministry directs plants using imported coal to run at full capacity

The Power Ministry is believed to have directed imported coal-based thermal plants to operate at full capacity for three months from April 1, to avoid any electricity shortage amid the estimated peak demand of 270GW during this summer. Sources said that in letters sent to imported coal-based plants in the country, the power ministry invoked Section 11 of the Electricity Act, asking them to run at full capacity. The step has been taken to ensure optimal power availability, considering the prevailing demand-supply scenario and the expected rise in electricity demand in the coming months, according to the letter. The ministry has estimated the peak power demand to be over 270GW during this summer season (April onwards). However, during last summer (April 2025 onwards), the peak power demand was 242.77 GW in June, 2025. According to government estimates, peak power demand was expected to touch 277 GW in the summer of 2025. The peak power demand touched an all-time high of about 250 G

Govt says no shortage of petrol, diesel, urges public to avoid panic buying

The government on Wednesday said there is no shortage of petrol, diesel or LPG in the country, and urged citizens not to believe rumours circulating on social media or resort to panic buying. LPG supplies remain affected due to the ongoing disruption in the Strait of Hormuz. In a media briefing, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said all refineries are operating at high capacity with "adequate crude inventories", while "sufficient stocks of petrol and diesel are being maintained" and retail outlets are functioning normally nationwide. "Don't believe in rumours. We have adequate fuel stocks and the government is making all efforts to reach them to consumers," she said. She said "panic buying was reported in some areas due to rumours", leading to unusually high sales and crowding at petrol pumps, even though "adequate stocks of petrol and diesel are available at all petrol pumps". "There are enough stock of petrol and diesel and there is no

Bank fraud case: ED attaches ₹7.5-cr asset near London's Heathrow Airport

An immovable asset worth Rs 7.5 crore and located near London's Heathrow Airport has been attached under the anti-money laundering law in connection with an alleged bank loan fraud case, the Enforcement Directorate (ED) said on Wednesday. The provisional attachment order was issued on Tuesday in the case involving Neo Corp International Ltd, and its directors and promoters, the federal agency said in a statement. The market value of the attached asset is about Rs 7.5 crore and it is situated near the Heathrow Airport in London, it said. The ED case filed under the Prevention of Money Laundering Act (PMLA) stems from two FIRs registered by the Central Bureau of Investigation (CBI). The first case involves a company named Poly Logic International Pvt Ltd, its director Utkarsh Trivedi and others who are accused of cheating the Punjab National Bank of Rs 57 crore. The second case is against Neo Corp International, its MD Sunil Kumar Trivedi and others who are alleged to have defrauded

Indian refiners seek alternatives to US dollar for Russian oil payments

Transactions are being carried out by depositing Indian rupees into special overseas bank accounts held by Russian sellers which are then being converted into UAE's dirham or the Chinese yuan

Ceigall India signs PPA with Maharashtra discom MSEDCL for solar projects

Ceigall India on Wednesday said it has signed power purchase agreements with Maharashtra state utility MSEDCL for two solar projects of 337 MW capacity to be set up at an investment of Rs 1,369 crore. Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) signed power purchase agreements (PPAs) with the company's two wholly-owned subsidiaries on March 24, Ceigall India said in an exchange filing. The agreements cover the development of solar photovoltaic power-generating stations with a combined capacity of 337 MW under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0). The first project, with a capacity of 190 MW, will be developed across four districts in Maharashtra and another with a capacity of 147 MW will span two districts. The combined EPC value of the projects stands at approximately Rs 1,369 crore (inclusive of GST). The execution timeline for the projects is 18 months. Ramneek Sehgal, Chairman & Managing Director, Ceigall India Limited, said, "These PPAs .