Page 15 - Government

Rs 1.45 trillion extra resources for FCI's capital needs, says govt

The IEBR of FCI for FY24 - in line with the Budget documents - is projected to jump a staggering 164 per cent to nearly Rs 1.45 trillion, from the 2022-23 (FY23) Revised Estimates (RE) of Rs 55,000 cr

Regulations strictly followed while making investments: LIC tells govt

Amid concerns in certain quarters over LIC's exposure to Adani group companies, the government on Tuesday said the insurer has informed that it strictly follows the statutory framework and regulations while making investments. Last week, state-owned Life Insurance Corporation (LIC) said it has investments of Rs 35,917.31 crore in Adani group's debt and equity securities. The amount is 0.975 per cent of the insurer's total assets under management of more than Rs 41.66 lakh crore. The total purchase value of equity, purchased over the last many years, under all the Adani group companies is Rs 30,127 crore and the market value for the same as at close of market hours on January 27, 2023, was Rs 56,142 crore, as per LIC. "LIC has informed that all investments of LIC are carried out strictly as per the statutory framework of the Insurance Act, 1938 and the IRDAI Investment Regulations, 2016 and are guided by a detailed governance mechanism," Minister of State for Finance Bhagwat Karad to

Centre appoints K Satyanarayana Raju as new MD & CEO of Canara Bank

State-owned Canara Bank on Tuesday said the Union Government has appointed K Satyanarayana Raju as its Managing Director and CEO, with immediate effect. He will be replacing L V Prabhakar who demitted office on December 31, 2022. Raju, who is a Physics Graduate, Post Graduate in Business Administration (Banking and Finance) and CAIIB (Certified Associate of Indian Institute of Bankers), had earlier served Canara Bank as Executive Director since March 10, 2021. He has a very rich and vast experience in all segments of banking including Branch Banking, Corporate Credit, Retail Credit, Agri Financing, Credit Monitoring, Credit Recovery, Compliance etc. Also his rich experience and exposure led to digital transformation of banking products and services, the bank said in a release.

No proposal at present to increase amount under PM-KISAN: Govt in Lok Sabha

The government on Tuesday informed Parliament that there is no proposal at present to increase the amount under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) from the existing Rs 6,000 per annum per beneficiary. The PM-KISAN was launched in February 2019 but implemented with effect from December 2018. Under the scheme, eligible farmers are provided with a financial benefit of Rs 6,000 per year in three equal instalments of Rs 2,000 each every four months. The fund is directly transferred to the bank accounts of the beneficiaries. "There is no such proposal at present," Agriculture Minister Narendra Singh Tomar said in his written reply to the Lok Sabha when asked if there is any proposal to increase the amount under the PM-KISAN. As of January 30 this year, more than Rs 2.24 lakh crore have been disbursed to eligible farmers through various instalments as income support to take care of expenses related to agriculture and allied activities as well as domestic needs, he ...

Delayed decision

Govt should have moved fast in Vodafone Idea matter

US jobless insurance claims near historic low despite cooling economy

Applications for US unemployment insurance last week fell slightly, hovering around historically low levels as the labor market holds strong despite a weakening economy

Govt-recognised startups eligible for angel tax exemption: DPIIT Secy

More than 84,000 DPIIT-recognised start-ups in the country, data shows

Beware! Govts do default on pension liabilities

The faith displayed by employees in a future government's ability to pay pension is perplexing when stories abound of state governments having difficulty in paying salaries

Govt set to invite EoIs for Rs 41k-cr Great Nicobar Port on Saturday

Ambitious Rs 41k-cr transhipment terminal plan mired by environmental concerns

Govt rejects panel push for effect-based test in Competition Amendment Bill

Recommendation, made by Jayan Sinha-led Parliamentary Committee in Dec, was cleared by cabinet earlier this week; govt sees difficulty in quantifying impact

Budget 2023: Real Estate expects further fiscal stimulus - Dr. Mohit Ramsinghani - Runwal Group

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India's Rs 8,000-cr green bond debuts today, analysts see strong demand

Future premium hinges on incentives for banks, FII participation

Facing user complaints, DoT considers launching 5G service quality test

Coverage reaches nearly 200 cities; telcos say they're continuously assessing situation

A step too far

'Fake news' rules will damage press freedom

Madhya Pradesh govt's emphasis on self-employment of SC-ST youth

A ministerial group will present report of recommendations after in-depth discussion on suggestions from various stakeholders

Indians' trust increases in govt and business, dips in media, NGOs: Survey

India is also among 11 countries where trust in government has increased

Business trusted most among govts, NGOs, media in polarizing world: Report

People are more gloomy about their economic prospects than ever before and trust business far more than other institutions like governments, nonprofits, and the media in an increasingly divided world

Centre to fully exit IDBI Bank once it gets 'upside value': Dipam secy

It would make complete exit once it gets upside value on the remaining stake

From RIL to L&T and Adani, corporate giants build on EPC rule change

A shift from the high-debt hybrid annuity scheme for infra projects to a low-debt, performance-linked model is encouraging government and private majors to pivot to this business in a bigger way

Will send 44 judges' names within two-three days: Govt to Supreme Court

The collegium system has become a major flashpoint between the Supreme Court and the central government, with the mechanism of judges appointing judges drawing criticism from different quarters