The finance ministry has asked public sector banks (PSBs) to do proper monitoring of top loans and make adequate provisions for pledged shares of big corporates in view of the current global financial scenario emanating from the failure of some international banks in the US and Europe. According to sources, there is a need for [...]
Equity benchmark indices climbed in early trade on Tuesday tracking a firm trend in Asian markets and buying in index major Reliance Industries, HDFC twins and IT counters. The 30-share BSE Sensex climbed 295.59 points to 57,949.45 in early trade. The broader NSE Nifty advanced 76.05 points to 17,061.75. Among the Sensex firms, Tata Steel, [...]
Retirement fund body EPFO fixed 8.15 per cent rate of interest on employees’ provident fund (EPF) deposits for 2022-23 at its meeting on Tuesday. In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent [...]
IT Minister Ashwini Vaishnaw on Monday hinted at a "big announcement" in a few weeks in the context of conversational AI tools. To a specific question on whether India can build something equivalent to the conversational AI tool ChatGPT, the minister said "wait for a few weeks, there will be a big announcement". When asked [...]
Pakistan has begun in-house consultations to decide whether to attend the Shanghai Cooperation Organisation (SCO) meetings of the defence and foreign ministers in India, a report said on Monday. New Delhi has already extended invitations to Defence Minister Khawaja Asif and Foreign Minister Bilawal Bhutto-Zardari. The defence ministers’ meeting is scheduled in April in New [...]
The government will set up a Centre for Processing Accelerated Corporate Exit (C-PACE) to process and dispose of applications for removal of company names from the records under the companies law. In a written reply to Lok Sabha on Monday, Minister of State for Corporate Affairs Rao Inderjit Singh said the centre will be established [...]
State-owned Food Corporation of India (FCI) on Monday said wheat sale at discounted rates via e-auction to bulk consumers, institutions and state governments has been stopped for now as procurement of the fresh crop begins next month. Under the Open Market Sale Scheme (OMSS), the FCI has sold 33 lakh tonnes of wheat till March [...]
Facing high aggregate technical and commercial (AT&C) losses in electricity distribution, Kashmir Power Development Corporation has initiated several measures, including disconnecting services to defaulters, to reduce the deficit. "As far as KPDCL is concerned, it has the highest AT&C losses in the country. I would say we are around 64 per cent," Chief Engineer KPDCL [...]
A parliamentary committee has stressed on the need for increasing the draft depth of almost all the ports of the country under the Sagarmala Programme according to their respective cargo profile. Increased draft depth helps ports handle larger vessels. In its latest report, the department-related parliamentary standing committee on transport, tourism and culture said that [...]
Several asset management companies (AMCs) have opened up subscription for international schemes to maximise inflows ahead of new taxation rules for debt mutual funds kicking in from April 1. The fund houses that resumed their international schemes are -- Franklin Templeton Mutual Fund, Mirae Asset Mutual Fund and Edelweiss Mutual Fund. Edelweiss Mutual has opened [...]
