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Bank credit likely to grow at 4-year high of 11-12% in FY23: Report

Mumbai, Apr 29 (PTI) Bank credit is likely to grow at a four-year high of 11-12 per cent in fiscal 2023, on the back of better economic growth and budgetary support from the government, according to a report.In the fiscal ended March 2022, bank advances have likely grown at 9-10 per cent."Healthy economic growth and [...]

Approval to chip makers likely in 6-8 months: Ashwini Vaishnaw

The government expects to grant approvals to electronic chip makers in the next 6-8 months as it looks to encourage domestic manufacturing of semiconductors, union minister Ashwini Vaishnaw said on Friday. Speaking at the Semicon India-2022 conference here, Vaishnaw said it will be done in "the next 6-8 months". Minister of state for electronics and [...]

Govt may not auction 27.5-28.5 Ghz band, leave it for satellite firms

New Delhi, Apr 29 (PTI) The government may not auction spectrum frequency range between 27.5-28.5 gigahertz and leave it for satellite services, according to official sources. The Telecom Regulatory Authority of India (Trai) had recommended a base price for this frequency range and suggested that it can be used for both mobile as well as [...]

Sri Lanka ruling party dissidents brief India on political impasse

Colombo, Apr 29 (PTI) A delegation of the ruling SLPP coalition dissidents representing the former President Maithripala Sirisena-led SLFP, has met the Indian High Commissioner in Sri Lanka Gopal Baglay and briefed him on the current political impasse in the country and plans for an interim government arrangement to address the worst economic meltdown.Sri Lanka [...]

Pakistan’s top Islamic court asks govt to implement interest-free banking system by 2027

Islamabad, Apr 28 (PTI) Pakistan's top Islamic court on Thursday declared the prevailing interest-based banking system as against the Sharia law and directed the government to replace it with an interest-free system by the end of 2027.Announcing the verdict in a long-pending case on Riba (interest), the Federal Shariat Court (FSC) directed the government to [...]

FHRAI seeks rationalisation of GST rates for hospitality sector

New Delhi, Apr 28 (PTI) Citing high inflation, the Federation of Hotel and Restaurant Associations of India on Thursday appealed to the GST Council to rationalise the GST rates for the hospitality sector.  FHRAI has also asked the government to consider simplification of goods and services tax (GST) rules to enable the establishments falling under [...]

Renewable energy comes to rescue amid rising power demand: Official

New Delhi, Apr 28 (PTI) Renewable energy has come to the rescue during the ongoing power crisis triggered by surging demand amid the heat wave condition in the country, especially when the peak electricity supply hit the record level of 201.06 GW earlier this week, a senior official said on Thursday. The maximum pan-India power [...]
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