India International Times Latest Business News from India

The Indian Cabinet, chaired by Prime Minister Narendra Modi has given its ex-post facto approval to the proposal of Ministry of New & Renewable Energy (MNRE) for ratification of ISA’s Framework Agreement by India. ISA was launched jointly by the Prime Minister of India and the President of France on 30th November, 2015 at Paris on the side-lines of the ...

The Income Tax Department has carried out investigations since the de-monetisation of Old High Denomination (OHD) currency announced by the Government on 8th November, 2016 and unearthed  Rs.2,600 crore in 291 cases across the country. In addition, open enquiries have been effected in more than 3,000 cases. Approximately Rs. 393 Crore including Rs. 316 Crore cash and Rs. 77 Crore worth ...

Ayush ministry is collaborating with International Agencies in its quest for promotion of cooperation in the field of medicinal plants, the National Medicinal Plants Board (NMPB) signing a Memorandum of Understanding (MoU) with University of West Indies, Trinidad & Tobago in 2014. To give further impetus to the promotion of international cooperation in the field of Medicinal plants, the NMPB ...

The Ministry of Finance, Government of India through its Department of Financial Services(DFS) has asked all the Public Sector Banks(PSBs) and the Indian Bankers Association (IBA) to ensure hundred percent(100%) that deposits of new currency is properly reflected in the customers’ counterfoils. In a letter addressed to all the Managing Directors (MDs) & Chief Executive Officers (CEOs)/Chairman cum Managing Directors ...

The Indian Ministry of Shipping has identified 14 Coastal Economic Zones (CEZ) along the coastline under National Perspective Plan (NPP) of Sagarmala Program, said Minister of State for Shipping Mansukh Lal Mandaviya in reply to a question in Lok Sabha on Thursday (08 Dec 2016). The CEZ are  spatial economic regions spread over multiple coastal districts with strong port linkage. Within each ...

To further accelerate the cashless economy, after the cancellation of old Rs.500 and Rs.1,000 notes, the Central Government has decided on a package of incentives and measures for promotion of digital and cashless economy in the country. These incentives include: 1. The Central Government Petroleum PSUs will offer a discount at the rate of 0.75% of the sale price to consumers ...

As the demonetisation laid bare the difficulties of rural India not matching the urban centres in banking and payment technology, the Indian government has decided to pitch for a campaign provide information, education and communication, holding camps for transiting to the digital mode of payment. Among the series of measures undertaken include incentives to the district administration which will give ...

The satellite rights of “Baahubali: The Conclusion” (Telugu version) starring Prabhas and Rana Daggubati has been sold to Zee Network for a whopping Rs.26 crore, said publicists for the film. “satellite rights have been acquired by Zee Network for a whopping price of Rs 26C, which would surpass the record of “Baahubali,” said #Mahesh, publicist for the film. Ever since ...

The Supreme Court on Friday warned the government to find ways to end the cash crisis as people standing in long queues for hours every day may turn violent anytime leading to anarchy. Brushing aside the government contention, the court made it clear that “It is a serious issue.” Since it affects the entire population, it said, “You cannot deny ...

Piyush Goyal, Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, said that Indian entrepreneurship needs to be promoted in global electrical industry. While speaking at Light India Exhibition 2016, Goyal said, “We welcome technology from all around the world but at the end of the day, we would like to strengthen our Indian hands. ...

India’s Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given its approval to an cquisition by ONGC Videsh Limited (OVL) for 11% stake in JSC Vankorneft from M/s Rosneft Oil Company (Rosneft), the National Oil Company (NOC) of Russian Federation (Russia). Rosneft operates Vankor fields, with Vankorneft, its wholly owned subsidiary. OVL will be paying an ...

With global growth subpar at 3.1% in 2016, with slight increase to 3.4% next year, persistent stagnation in advanced economies could further fuel anti-trade sentiment with calls for protectionism in developed economies, said IMF in its latest outllok that may send warning bells to India and China. Global economic growth will remain subdued this year following a slowdown in the ...

Purchasing jewellery for a big occasion could mean pouring out one’s hard-earned savings but to make it notionally less burdensome, Candere.com, an online jewellery retailer, has come to the rescue of jewellery lovers. Candere.com offers easy EMI on diamond jewellery to its consumers without charging any interest, or additional cost over and above the price of the jewellery. The entire ...

Indian business sentiment fell for the first time in three months in March 2016 as companies faced lower demand amid rising input prices on the back of the weak rupee, though political atmosphere remained stable after the release of JNU student leaders. The MNI India Business Sentiment Indicator, a gauge of current sentiment among BSE-listed companies, fell to 62.7 in ...

Scientists were surprised to find fragments of DNA of extinct human species in 35 people living in islands off New Guinea in Melanesian tribes. The DNA was traceable to two early human species: Denisovans, whose remains were found in Siberia, and Neandertals, first discovered in Germany. D. Andrew Merriwether, a molecular anthropologist at Binghamton University, collected the modern-day blood samples ...

BY POONAM GUPTAADD COMMENT Capital flows to emerging economies are considered to be volatile. Influenced as much by global liquidity and risk aversion as by economic conditions in receiving countries, capital flows move in a synchronous fashion across emerging economies. There are periods of rapid capital inflows, fueling credit booms and asset price inflation; followed by reversals when exchange rates ...