Page 765 - Business Finance
Score sheet of RRB exam candidate viral social media is morphed: Railways
Railways on Tuesday said a score sheet of a Group-D exam candidate, which has gone viral on social media, is "morphed". The scorecard that is doing the rounds of social media sites shows a candidate of the railways' Group-D exam scoring 109, 148, 102,130, 354 marks out of 100 marks in the different sections of the test. "A candidate score sheet with very high score is being made viral. Please note that this score sheet is morphed. The correct score sheet is given below. "Please don't be misguided by unscrupulous elements. Indian Railways Recruitment system is fair and transparent," the Ministry of Railways tweeted the clarification. The Railway Recruitment Board (RRB) has announced the result for the RRB Group-D exam. It was conducted to fill 62,907 vacancies. Over 1.8 crore candidates registered for the exam, according to officials. The Railways has uploaded the result and it is available on its websites, including those of RRB Bilaspur, Allahabad and Kolkata. About 1,90,000 people ..
BEL to make helmet-mounted display system
State-run Bharat Electronics Ltd (BEL) on Tuesday said it will make helmet-mounted display system for military pilots with Israeli firm Elbit System Ltd.
GCX reports strong cash flows in Q3
Global Cloud Xchange (GCX), a subsidiary of Reliance Communications, here on Tuesday reported a 55 per cent increase in cash flow in the third quarter of FY19 against the year ago period.
Shailesh Haribhakti to be Blue Star's Chairman from April
Air conditioning major Blue Star on Tuesday said its board has appointed Shailesh Haribhakti as its next Chairman with effect from April 1.
Maha MoU conversion rate higher than national average: CM
The rate of conversion of Memorandums of Understanding (MoUs) into actual investments in was far higher in Maharashtra than the national average, Chief Minister Devendra Fadnavis said Tuesday. Fadnavis was addressing a gathering after unveiling a new 5-year industrial policy, effective from April 1 this year, which lays emphasis on high-technology and employment generating businesses and aims to attract investments worth Rs 10 lakh crore. "Nowadays, every state is organising investment conferences. Our Prime Minister talks of competitive federalism. But I must tell you, among all states which have been organising investment seminars, Maharashtra's rate of conversion of MoUs into investments is higher than any other state," he said. He said the national average of converting Memorandums of Understanding into actual investments, after a period of one year from the agreements being inked, could be pegged at 30-35 per cent. "Our average is more than 45 per cent. For ...
China allows Tesla Model 3 into country after brief halt
After temporarily holding Tesla cars at customs, China on Tuesday allowed 1,600 Model 3 sedans to enter the country, according to media reports.
9.7 per cent salary hike seen in 2019
The salary increment projections across most industries in 2019 would be 9.7 per cent, said a survey on Tuesday.
GMR doesn't account for Chhattisgarh power plant's Rs 2,250 cr diminution, defends move
Infrastructure conglomerate GMR Group has not accounted for diminution of GMR Chhattisgarh Energy Ltd's (GCEL) value to the tune of Rs 2,250 crore according to its auditor's note in its financial results for the December-ended quarter.
Icra downgrades Reliance Capital to A1
Reliance Capital Tuesday informed that Icra has revised its rating by one notch to A1 for the short-term debt programme of the company due to delay in monetising non-core investments. The agency has downgraded the rating with negative implications outlook. "ICRA has stated this action is primarily due to refinancing risk of short term maturities and delay in monetising the noncore investments. The company considers the rating action completely unjustified and inappropriate," Reliance Capital said in a regulatory filing. The company also places on record the fact that the rating agency arbitrarily refused to provide the company an opportunity to meet the members of the Review Committee and address any concerns, thereby turning the entire review process prescribed by the Sebi into a futile, pointless and unfair exercise, it said. As publicly informed, it said, the company is in the process of monetising its entire 42.88 per cent stake in Reliance Nippon Life Asset Management Limited, ...
SPV for proposed Kanniyakumari port launched
Union Minister of State for Shipping Pon Radhakrishnan on Tuesday launched a special purpose vehicle (SPV) Kanniyakumari Port Ltd that would build a major port in Kanniyakumari district, said an official.
SpiceJet to operate 12 new direct flights
Budget carrier SpiceJet will operate 12 new direct flights encompassing international and regional sectors as well as regular domestic routes.
RBI to inject durable liquidity worth Rs 12,500 cr
To ease liquidity concerns, the Reserve Bank of India (RBI) on Tuesday said it will inject Rs 12,500 crore through open market operations (OMOs) on March 7.
IndiGo commences 3-day Holi sale, fares start at Rs 899
Budget carrier IndiGo on Tuesday commenced a three-day special Holi sale across its network.
Punjab CM approves Master plan of Banur
Punjab Chief Minister Amarinder Singh Tuesday gave in-principle approval to the master plan for development of Banur as an industrial hub and directed the town planning department to make necessary amendments for time-bound completion of the project. Chairing the 37th meeting of Punjab Regional, Town Planning and Development Board here, Singh underlined the importance of the move to boost the region's industrial development in the light of the pro-investment environment, backed by the policies and incentives announced by his government, according to an official release. The CM also gave approval to effect amendments in the development control regulations, thus acceding to the demand of the Confederation of Real Estate Developers Association of India (CREDAI) Punjab regarding calculation of saleable area of EWS sites and alignment of zonal roads for connectivity of sector and inter-sector roads in various master plans. He also gave the go-ahead to make amendments in the unified zoning .
Jaitley promises to lower rate, broaden tax base
Finance Minister Arun Jaitley Tuesday assured the industry that the government would strive to lower tax rates and broaden the tax base to increase revenue collection. In an interaction with Ficci, the minister also called upon the industry to pass on benefits of GST rate reduction to consumers. "The finance minster said that the thrust of the government is to lower the tax rate and increase the tax base and keep the revenue collections moving up. He said that the indirect tax collections will further increase in future," a finance ministry statement said. The minister said GST is now on the track and is in process of fast settling down and the government will continue with direct and indirect tax reforms in order to facilitate and further expedite the process of ease of doing business in the country. "He (Jaitley) asked the captains of Indian industry to comply with the recent recommendations of the GST Council with regard to reduction of rates of various items and pass on the ...
NHB proposes higher capital adequacy for mortgage firms by March 2022
To improve solvency of housing finance companies, the regulator National Housing Bank (NHB) has proposed to increase capital adequacy ratio to 15 per cent in a phased manner. The proposed norms are being issued in the wake of liquidity problem being faced by housing finance companies (HFCs) after IL&FS crisis. NBFC sector including HFCs came under pressure after series of default by group companies of IL&FS beginning September last year. Keeping in view the long term nature of the housing finance business model and requirement of long term capital, the following proposal relating to progressive increase in the minimum capital adequacy requirement for HFCs, from the present stipulation of 12 per cent in phased manner to 15 per cent by March 31, 2022, NHB said in the draft guidelines. As per the roadmap, HFCs have to increase minimum Capital Adequacy Ratio (CAR) to 13 per cent by March 31 next year and 14 per cent by March 31, 2021. CAR is one of the important parameters from ...
Corporate tax could be cut on better GST collections: FICCI
The government on Tuesday said corporate tax rates can be cut to 25 per cent from 30 per cent if the goods and services tax (GST) collections improve, but wanted the firms to pass on the benefit of lower GST rates to the consumers.
Uber appoints Manisha Lath Gupta as India marketing head
US-based ride-hailing major Uber Tuesday said it has appointed Manisha Lath Gupta as the head of marketing for India. The announcement follows the recent appointment of Pavan Vaish as the head of central operations. She will oversee marketing initiatives for Rides and Eats Business for India South Asia, Uber said in a statement. With over 20 years of experience, she takes over from Sanjay Gupta, who will soon move to Uber US and Canada in a new role, it added. She started her career with Unilever in India and has worked with Colgate Palmolive and Axis Bank. She turned full-time entrepreneur in 2014 with her start-up venture IndianArtCollectors.com that was later acquired. "Having completed over 1 billion trips in India and South Asia region in July 2018, the company plans to continue driving growth by offering more modes and entering more cities this year under the strategic stewardship of a stronger and bigger India leadership team," Uber said. Uber India and South Asia President ...
Haryana unveils new excise policy, targets Rs 7,500 cr from liquor
The Haryana government Tuesday unveiled a new excise policy for 2019-20, targeting revenue mobilisation of Rs 7,500 crore from liquor against Rs 6,300 crore for current fiscal. Under the new excisepolicy, the government gave nod for approving the receipt of applications and grant of licences through department's portal as part of its ease of doing business initiatives. Emphasizing its commitment to environment protection, at least 20 per cent of the liquor will be sold in glass bottles. The Policy alsoenables liquor manufacturers to market Indian Made Foreign Liquor in tetrapacks (biodegradable) of 180 ml, called Nips. To provide qualitycountry liquor to the consumers at lower rates, thepolicy allowed the launch of superior 65 degree proof country liquor called "Metro Liquor" to be distilled and marketed by the State based distilleries. "The policy fulfills the expectations of the armed forces by lowering excise duty on Rum sold through Canteen Stores Department canteens in the State .
ICICI-Videocon case: NuPower-Matrix Group deal on ED's focus (IANS Exclusive)
The Enforcement Directorate (ED) has extended its probe to find out if there was an illegal fund trail between Mauritius-based Firstland Holdings and NuPower Renewables Pvt Ltd owned by Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar, in a multi-crore money laundering case.