ECONOMY & NATION


 Lending major ICICI Bank on Tuesday said it has successfully on-boarded over 250 corporates on its blockchain platform for domestic and international trade finance transactions.   The private sector bank said that with this, leading Indian corporates -- including ones from the "S&P...

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To enable customers to see tariffs of different telecom service providers (TSP) and different licensed service areas at a single place, the Telecom Regulatory Authority of India (TRAI) has introduced a portal, an official statement said here on Monday.   "For easy access, various...

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Amit Kapoor (IANS) 17 April 2018
All economies want to produce more within national borders. This urge arises from the popular belief that manufacturing is a good source of jobs for low-skilled workers. President Donald Trump's fixation with bringing back jobs to American factory floors by any means necessary is merely an...

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It is scam season. Rather, scam awareness season. The corporate sector and the banking sector always play games. Banks try to take the depositors’ money, lend to various people and hope to make money. Given the size of operations and scale, banks would rather give a single loan of Rs100 crore...

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India is set to get a normal monsoon this year, with average rainfall likely to be 97 per cent, the India Meteorological Department (IMD) announced on Monday.   The prediction stands at a moderate error estimated of plus-minus 5 per cent of the Long Period Average (LPA).   A...

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The Supreme Court on Monday ordered adequate security to the Kathua rape victim's family, their lawyer Deepika Singh Rajawat and others and sought the Jammu and Kashmir government's response to a plea for transfer of the case trial to Chandigarh.   A bench headed by Chief Justice...

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 India's wholesale price-indexed (WPI) inflation softened to 2.47 per cent in March from 2.48 per cent reported for the previous month, official data showed on Monday.   According to the Commerce Ministry data, the WPI inflation in March 2017 was more than double at 5.11 per...

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Sanjiv Kataria (IANS) 16 April 2018
It's April and a time to celebrate for millions of young Indians who have just finished their school-leaving class XII examinations. The days that follow help them unwind after months of exam preparation. The celebrations, however, are short-lived. The next many weeks and months are consumed...

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The CBI will soon question former Chairman and Managing Director (CMD) of UCO Bank Arun Kaul in connection with its ongoing probe into an alleged Rs 737 crore bank loan fraud case, officials said on Sunday.   A Central Bureau of Investigation (CBI) official, privy to the...

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The Allahabad High Court (HC) on Friday called for the arrest of BJP legislator Kuldeep Singh Sengar accused of gang rape in Uttar Pradesh's Unnao, and said that mere detention was not enough.   The court, which had reserved its verdict on a petition regard the alleged rape of a...

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Software major Infosys Ltd on Friday reported 28.1 per cent sequential decline in consolidated net profit, in rupee terms, to Rs 3,690 crore for the fourth quarter of 2017-18.   In a regulatory filing on the BSE, the city-based IT firm said consolidated revenue for the quarter under...

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Leading bankers point out that three of the four members of the newly constituted Bank Board Bureau (BBB) have ICICI Bank links. Of these only one is really controversial, but it is an indicator of the all-pervasive influence of the large private bank and probably explains the silence of the...

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Telecom major Reliance Jio and employee benefits provider Sodexo on Thursday announced a partnership in the mobile wallet segment.   According to the telecom major, the partnership between JioMoney and Sodexo will enable digital transactions across retail point of sales like grocery...

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The government on Thursday appointed former Union Personnel Secretary Bhanu Pratap Sharma as Chairman of the Banks Board Bureau (BBB), replacing first chairman Vinod Rai on completion of the latter's two-year term.   According to an announcement by Financial Services Secretary Rajeev...

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Reliance Industries (RIL) on Friday announced it has agreed to buy a majority stake of 72.69 per cent in the artificial intelligence (AI)-based education platform Indiavidual Learning Pvt Ltd (Embibe) from existing investors over the next three years.   In a statement here, the Mukesh...

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Justice J. Chelameswar, the second senior-most judge of the Supreme Court, on Thursday refused to hear a case filed by former Law Minister Shanti Bhushan questioning the authority of the Chief Justice of India (CJI) as master of the roster, saying "why should I, let this country decide its...

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Twitter CEO and co-founder Jack Dorsey in 2017 declined for the third straight year any salary. He did not take a single penny for running the micro-blogging platform.   "As a testament to his commitment to and belief in Twitter's long-term value creation potential, our CEO, Jack...

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Rajnish Singh (IANS) 12 April 2018
The CBI is probing another loan of Rs 5,280 crore taken by diamond trader Mehul Choksi and his companies from a consortium of 31 banks led by ICICI Bank, informed sources said.       The probe is part of the existing FIR filed against Choksi and his Gitanjali Group of...

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The Union Finance Ministry on Wednesday said GST is not applicable on food and drinks supplied by schools directly to the students, while it is 5 per cent without input tax credit for mess and canteens in educational institutions.   "If schools up to higher secondary level supply food...

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The Supreme Court on Wednesday said that it was the "prerogative" of the Chief Justice of India - a high constitutional functionary - to constitute the benches and allocate cases and that authority can't be regulated on the mere apprehension of being exercised arbitrarily.   Holding...

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