Business
Additional 1.7 Lakh vials of Amphotericin-B to states, UTs
IPA Webdesk The government has allocated an additional 1.7 lakh vials of Amphotericin-B drug, used to treat black fungus infection, to states and union territories, Union Minister Sadananda Gowda said on Wednesday. “Ensuring adequate availability and smooth supply of #Amphotericin-B across the country, additional 1,70,000 vials of the drug...
Rs 25,000-cr makeover for Railways to run faster, safer trains
The Union Cabinet on Wednesday approved allotment of 5 MHz Spectrum in 700 MHz frequency band to Indian Railways for public safety and security services at stations and in trains. The estimated investment in the project is more than Rs. 25,000 crore, the ministry of railways said in a...
Mumbai Hyatt Regency shuts doors after payment defaults
Hyatt Regency Mumbai has suspended all operations and attributed the action due to lack of funds from the owners. “This is to inform all the on-roll staff of the hotel that no funds are forthcoming from Asian Hotels (West) Ltd., the owner of Hyatt Regency Mumbai, to enable payment...
Petrol, diesel prices at record high, hiked 16 times in last one month
With the latest round of increase, the price of both petrol and diesel has reached new highs across the country. In the last one month alone, prices of both key fuels witnessed a hike 16 times, which saw a collective increase of nearly Rs 5 per litre in petrol...
Nandan Nilekani again backs cryptocurrencies
NandanNilekani Aadhaar architect Nandan Nikelani has once again called for encouraging the use of cryptocurrencies as an asset class, to be bought and sold like a commodity amid reports of India relooking at regulating the market. “Just like you have some of your assets in gold or real estate,...
Old Rs 500 Note Can Get You Rs 10,000. Here’s How
If you are stuck with demonetised notes of Rs 500 and Rs 1,000, you may still be able to not only redeem them, but earn more than their face value. The demonetization announced on November 8, 2016, had put an end on the acceptance of Rs 500 and Rs...
Govt Eases Procedure for Import of Oxygen Cylinders, Tankers
The government on Wednesday further eased the process of registration and approval for importing oxygen cylinders and cryogenic tankers amid shortage of the life-saving gas due to a spike in Covid-19 cases in the country. The government has done away with the norm of physical inspection of global manufacturers...
RBI Says Monitoring 2nd Covid Wave Situation
IPA Webdesk Reserve Bank of India said Governor Shaktikanta Das as part of his unscheduled speech on Wednesday, said that the RBI is monitoring the situation very closely and added that localised containment measures is keeping demand buoyant as compared to last year. Thsi comes at a time when...
Petrol, Diesel Price Up Second Day in Row
IPA Webdesk Petrol and diesel prices were raised for the second day in a row on Wednesday as state-owned fuel retailers resumed daily rate revision after a more than two-week long hiatus during assembly elections in states like West Bengal. Petrol price was increased by 19 paise per litre...
Serum Institute to Invest 240 Million Pounds in UK
By IPA Web Team Vaccine maker the Serum Institute of India is set to invest in facilities in Britain and could even manufacture inoculations in the UK in future, Prime Minister Boris Johnson said Monday. Johnson’s Downing Street office said the £240 million ($334 million) project would include a...
IDBI Invites Application for Chief Data Officer and Other Posts; Salary up to Rs 60 lakh
The Industrial Development Bank of India (IDBI) has invited applications for Chief Data Officer, Deputy Chief Technology Officer, Chief Information Security Officer, and Head- Digital Banking posts from experienced candidates on a contractual basis. The interested and eligible candidates can apply for the same by visiting the official website...
Now You Can Apply for Aadhaar Cards that Fit Your Wallet. Here’s How
Aadhaar card, the most important identification documentin India, has undergone a change. It will now come in an entirely new form – smaller, portable and more durable. As per the new notification of the Unique Identification Authority of India (UIDAI), new Aadhaar cards will be reprinted as polyvinyl chloride...
IDBI Bank Back in Black in FY21 After 5 Years, Posts Profit of Rs 1,359 Crore
LIC-controlled IDBI Bank turned profitable in the fiscal ended in March 2021 after five years, posting a net profit of Rs 1,359 crore for the year. In 2019-20, the lender had posted a net loss of Rs 12,887 crore. IDBI Bank is back in black after five years, said...
Looking For a Guaranteed Regular Return After Retirement? Check this New Pension Plan
If you are looking to invest in a retirement fund for an assured regular return, you may consider this new Saral Pension Plan. The regulator has asked the insurers to offer a single premium, non-linked, non-participating immediate annuity plan, starting from April 1. The pension plan offers a guaranteed return that does...
Net Profit Rises 33% to Rs 1,682.4 Crore, NII Improves
Kotak Mahindra Bank reported a 33% year-on-year increase in standalone profit to Rs 1,682.4 crore in the quarter ended March 2021. The lender clocked 8% year-on-year rise in net interest income to Rs. 3,843 crore for the quarter. Net Interest Margin (NIM) for Q4FY21 was at 4.39%. Operating profit for...
CII Calls for Strongest National Steps, Curbs on Economic Activity
New Delhi: Industry body CII has urged the government to take “strongest” national steps including curtailing economic activity to contain the spike in COVID-19 cases in the country. CII President Uday Kotak has asked for highest-level response measures to address the rising wave of COVID-19 cases, as currently safeguarding...
Health Insurers to Settle Cashless Claims Within an Hour
In a bid to help thousands of COVID-19 patients amid second wave of the pandemic, the regulator has asked the insurance companies to settle health insurance claims within an hour. This move came after Delhi High Court in its April 28 order, had directed the regulator to advise “insurers...
Markets to Be Guided by COVID-19 pandemic, Macro Data, Earnings This Week: Analysts
Market movement this week will be influenced by updates on the COVID-19 front, macroeconomic data announcement, quarterly earnings and global trends, said analysts. They also added that state election results are unlikely to have any major impact on the markets and the major determining factor will be the rising...
