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SC refuses to vacate stay on Franklin Templeton’s e-voting

New Delhi: The Supreme Court on Friday ruled that all cases related to Franklin Templeton India shutting down six of its debt schemes being heard in various high courts — Gujarat, Madras and Delhi — will be transferred to the Karnataka High Court within two weeks. Dismissing a Special Leave Petition (SLP) by Franklin Templeton Mutual Fund against a Gujarat …

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Manipal Hospitals Goa performs first ever bone marrow transplant PANAJI: The doctors at Manipal Hospitals Goa, performed the first ever bone marrow transplant in the state on a 54-year-old man using the revolutionary Apheresis technology. The patient was suffering from Plasma Cell Leukaemia, which is a form of myeloma (a type of blood cancer). He was admitted at the Manipal …

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India returning to normal business activity: PM

PTI New Delhi Prime Minister Narendra Modi on Thursday said business activity in India is fast returning to normal levels with consumption and demand approaching pre-COVID levels as visible in macro data on power, fuel and other consumption.  India faced a recession-like scenario after a national lockdown was imposed on March 25 to curb spread of coronavirus. The lockdown, that …

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India’s outlook to negative: Fitch

IANS New Delhi Fitch Ratings on Thursday revised India’s outlook to negative from stable and affirmed the sovereign rating at ‘BBB-’. Accordingly, Fitch said the revision of the outlook to negative on India’s Long-Term IDRs reflects concerns over economic contraction that the country is expected to encounter due to Covid-19 pandemic. “The coronavirus pandemic has significantly weakened India’s growth outlook …

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Cotton Industry body retains crop estimate at 330 lakh bales

IANS New Delhi The industry body, Cotton Association of India (CAI) has retained its crop estimate for 2019-20 at 330 lakh bales of 170 kg each, the same level as estimated by it in the previous month. CAI released its May estimate of the cotton crop for the season 2019-20 (October-September) on Thursday. The cotton crop finalised by the CAI …

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MNRE sets up project development cell

IANS New Delhi In its bid to facilitate investors with ready to use on-tap projects, the Ministry of New and Renewable Energy (MNRE) has set up a Project Development Cell (PDC) headed by a joint secretarylevel officer. The PDC will develop investible projects in coordination between the central and state governments. It main job would be to create projects for …

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SC says no merit in ‘charging interest on interest’

New Delhi: The Supreme Court Wednesday said there is “no merit in charging interest on interest” for deferred loan payment instalments during the moratorium period announced in wake of the COVID-19 pandemic.  A bench headed by Justice Ashok Bhushan observed that once moratorium is fixed then it should serve the desired purposes and the government should consider interfering in the …

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RBI proposes to increase minimum Net Owned Fund size of HFCs

Mumbai: The Reserve Bank on Wednesday proposed to increase the minimum Net Owned Fund size of Housing Finance Companies (HFCs). The proposal comes as part of a draft regulatory framework which will be applicable to HFCs. “The Bank proposes to increase the minimum NOF for HFCs from the current requirement of Rs 10 crore to Rs 20 crore,” the draft …

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World’s largest carbon-free energy project clears milestones

New Delhi: The ITER project — a collaboration of 35 nations, comprising India, to prove that fusion power can be produced on a commercial scale and is sustainable — is nearing the start of assembly in France despite the challenging circumstances from the horrid coronavirus, officials announced on Wednesday. ITER, the world’s largest experimental fusion facility, is being built in …

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Airtel invests in edtech startup Lattu Kids

New Delhi: Bharti Airtel on Wednesday announced it has acquired a strategic stake in edtech startup Lattu Kids as part of the Airtel Startup Accelerator Programme. Mumbai-based Lattu Kids specialises in digital learning tools for children and the investment would give distribution scale to quality-learning material from the app, the company said in a statement. Airtel, however, did not disclose …

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