Indian News

Delhi Police issues 3,900 challans on first day of newly amended Motor Vehicles Act

Non-Life, Policy       Sep 03, 2019

  New Delhi: The Delhi Police issued 3,900 challans, including 45 to drink and drive and 557 for dangerous driving, to traffic rule violators on the first day of the newly amended Motor Vehicles Act, which came into effect, officials said.   Parliament had in July passed...

Fintech panel suggest legal framework to protect digital services consumers

New Delhi: An inter-ministerial panel on fintech on Monday submitted its report to Finance Minister Nirmala Sitharaman suggesting a comprehensive legal framework to protect consumers of digital services.   The Steering Committee headed by the Economic Affairs Secretary also recommended adoption of regulation technology (or RegTech)...

FPIs pulled out Rs 38,930 cr in FY19 due to weak market sentiments: Sebi

Eco/Invest/Demography, Policy, Regulation       Sep 02, 2019

  New Delhi: As macroeconomic headwinds weighed on investor sentiments through the year, foreign portfolio investors pulled out Rs 38,930 crore in 2018-19, according to market regulator Sebi's annual report.   "In order to further develop the Indian securities market as an avenue for fundraising, eligibility norms...

Auto sales remain subdued in Aug

Eco/Invest/Demography, Non-Life       Sep 01, 2019

  New Delhi: The auto sales in the country remain depressed in the month of August.   Auto industry body SIAM sought immediate steps from the government, including reduction in GST rates and initiation of scrappage policy, as sales continued to plummet with passenger vehicle makers witnessing...

Costs making it difficult for EV to make a good value proposition: Maruti Suzuki

Eco/Invest/Demography, Non-Life, Technology       Sep 01, 2019

  New Delhi: Maruti Suzuki India, which plans to launch is first electric vehicle (EV) in the country next year, is finding cost of EVs to be prohibitive for mass adoption besides charging infrastructure proving to be a big issue, according to a senior company official.  ...

Foreign investors pull out Rs 5,920 cr In August despite surcharge rollback

Eco/Invest/Demography       Sep 01, 2019

  Mumbai: Foreign investors pulled out a net amount of Rs 5,920 crore from the Indian capital markets in August even as the government rolled back enhanced surcharge on FPIs last week.   The withdrawal from the capital markets (both equity and debt) in August is "contrary...

There will not be single job loss due to merger of banks: FM Sitharaman

  New Delhi: Finance minister Nirmala Sitharaman on Sunday allayed fears of job losses following the proposed merger of public sector banks, saying not even one employee shall be removed following the amalgamation.   "Absolutely, ill informed. I want to assure every union in everyone of these...

PSBs consolidation building block for $5 trillion economy: Finance secy

New Delhi: The government's decision to consolidate 10 public sector banks (PSB) into four mega state-owned lenders will act as a building block for achieving $5 trillion economy target, Finance Secretary Rajiv Kumar has said.   "To support next level of growth, the country needed big...

LIC settles 259.54 lakhs of claims amounting to Rs1,63,104 cr in 2018-2019

Eco/Invest/Demography, Life       Aug 31, 2019

  Mumbai: The Life Insurance Corporation that has entered in to  64th year of its incorporation on 1st September, has achieved 92.95 per cent of maturity claims and 98.27 per cent of death claims settlement for 259.54 lakhs claims amounting to Rs. 1,63,104.50 crore of in...