Indian News

World Bank discontinues business climate report after ethics review

Eco/Invest/Demography       Sep 16, 2021

  The World Bank Group said on Thursday it has decided to discontinue publication of its "Doing Business" rankings of country business climates after a review of data irregularities in the 2018 and 2020 reports. In a statement, the World Bank said that after the irregularities...

National Asset Reconstruction Company to acquire stressed assets of about Rs 2 lakh crore in phases

New Delhi: Union Cabinet approved the Central Government guarantee of Rs 30,600 crore to back Security Receipts issued by National Asset Reconstruction Company Limited (NARCL) for acquiring stressed loan assets on Wednesday. Union Ministry of Finance on Thursday said NARCL proposes to acquire stressed assets...

Finance Minister Nirmala Sitharaman

Govt guarantee of Rs 30,600 cr to NARCL for acquiring stressed assets: FM

New Delhi: Finance Minister Nirmala Sitharaman on Thursday announced a Rs 30,600 crore government guarantee for the National Asset Reconstruction Company Limited (NARCL) for acquiring stressed loan assets, paving the way for operationalisation of the bad bank. The decision to provide sovereign guarantee for security...

Investors richer by over Rs 4.46 lakh cr in three days of market rally

  Mumbai, Sept 16: Investors have become richer by over Rs 4.46 lakh crore in three days of market rally where the benchmark Sensex scaled the 59,000-mark for the first time on Thursday, driven by various reform measures. In its third consecutive session of gain, the...

GST Council to meet on Friday; rate review, tax concession to 11 COVID drugs on cards

Eco/Invest/Demography, Health, Policy       Sep 15, 2021

New Delhi, Sept 16: The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on Friday, which among other things may review the tax rate of over four-dozen items and extend till December 31, tax concessions on 11 COVID drugs. Also, taxing petrol and...

Fresh cyclonic circulation to bring heavy rainfall over east India from Sep 18-19

Non-Life       Sep 15, 2021

New Delhi: Afresh cyclonic circulation is likely to develop over north Bay of Bengal on September 17 and bring heavy rainfall over eastern India, the India Meteorological Department (IMD) said on Wednesday. The IMD said north and central India are likely to witness intense rainfall...

Sold electric scooters worth over Rs 600 cr in a day: Ola co-founder

New Delhi: Ola co-founder Bhavish Aggarwal on Thursday said Ola Electric sold scooters worth over Rs 600 crore on the first day of the sale of its model S1. The executive noted that the company will shut the purchasing process from Thursday midnight. Ola Electric...

India's top 10% urban families own Rs 1.5 cr in assets against Rs 2K at rock bottom decile: Survey

New Delhi: India's top 10 per cent urban households on an average own Rs 1.5 crore in assets as against Rs 2,000 at the bottom decile, reflecting the sharp divide between the rich and the poor in cities, showed a government survey. The situation, however,...

India reported 11.8% rise in cyber crime in 2020; 578 incidents of 'fake news on social media': NCRB Data

  New Delhi: India recorded 50,035 cases of cyber crime in 2020, with a 11.8 per cent surge in such offences over the previous year, as 578 incidents of "fake news on social media" were also reported, official data showed on Wednesday. The rate of cyber...

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