Chennai, Apr 7 (PTI): Taiwan-based Hong Fu Group would invest Rs 1,000 crore to set up a footwear unit in Tamil Nadu and signed a memorandum of understanding with the State government in this connection. The MoU was signed between top officials of the company and Guidance Tamil Nadu, the State investment promotion agency, in [...]
Mumbai, Apr 7 (PTI) Reserve Bank of India on Thursday proposed to modify the existing norms to simplify and rationalise the process for settlement of payment for exports and imports through e-commerce. RBI has issued draft guidelines on 'Processing and Settlement of small value Export and Import related payments' facilitated by Online Export-Import Facilitators (OEIF) [...]
Thiruvananthapuram, Apr 7 (PTI) Bucking the grim pandemic-induced crisis in the last two years, Kerala's cooperative dairy major Milma recorded a 25 per cent increase in its turnover in 2021-22. Significantly, the higher turnover has been achieved by Milma in the last two financial years without cutting down the procurement price of milk from farmers [...]
New Delhi, Apr 7 (PTI) Capital markets regulator Sebi on Thursday imposed penalties totalling Rs 25 lakh on five entities for indulging in non-genuine trades in illiquid stock options on BSE. In five separate orders, the regulator slapped a fine of Rs 5 lakh each on Krishna Kumari, Rajeshree Haresh Lathia, Priya Abhay Nahar, Nayana [...]
Customs officers have seized 5.85 kg of cocaine at the Indira Gandhi International Airport here, the biggest seizure at any Indian airport so far, the Finance Ministry said on Thursday. In the past six months, Customs at the IGI Airport alone has booked no less than 16 cases under NDPS Act, the highest number at [...]
Traders' body CAIT on Thursday asked the government to prohibit online marketplaces from selling drugs in the country, a day after e-retailer Flipkart announced its entry into the medicine vertical. In a statement issued on Thursday, the Confederation of All India Traders (CAIT) said it has written to commerce minister Piyush Goyal and health minister [...]
New Delhi, Apr 7 (PTI) Reserve Bank of India Deputy Governor T Rabi Sankar on Thursday said a nuanced and calibrated approach is essential for launch of India's maiden digital currency as it would have various implications for the economy and monetary policy. RBI is planning to come out with a central bank backed digital [...]
Mumbai, Apr 7 (PTI) Coffee exporter Allana Group on Thursday announced its foray into the domestic market and said it will set up a coffee unit in Karnataka at an investment of Rs 40 crore.The group, which has been exporting the green bean since 1987, is planning to introduce international grade coffees to Indian consumers, [...]
Mumbai, Apr 7 (PTI) Pursuing projects like the Rs 3 lakh crore mega refinery on the west coast raises questions about India's commitment to its stated goals to save the planet, an American academic said on Thursday.If countries like Saudi Arabia, which have themselves come out with their own targets to reduce carbon emissions, help [...]
Mumbai, Apr 7 (PTI) RBI on Thursday imposed several restrictions on Bengaluru-based Shushruti Souharda Sahakara Bank Niyamita, including a withdrawal cap of Rs 5,000 per account, following a deteroriation in the lender's financial position.The directions shall remain in force for a period of six months from the close of business on April 7, 2022, and [...]
