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All PMAY houses to be sanctioned by March 2020

New Delhi: The government would sanction all the targeted 1.12 crore houses under the Pradhan Mantri Awas Yojana (PMAY) by March 2020, said Union Minister for Housing and Urban Affairs Hardeep Singh Puri at the 15th annual convention of the National Real Estate Development Council (NAREDCO), here on Tuesday. Of the initial target of 1 crore houses in urban India, …

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Resolve stressed assets in time for maximum value: RBI

Mumbai: Reserve Bank of India Deputy Governor N S Vishwanathan on Tuesday advised lenders to ensure timely resolution of stressed assets under the new framework to extract the maximum value and asked them for deal only with “genuine” cases. Addressing the annual industry event Fibac, he also said that the central bank will be coming out with the final guidelines …

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End deep discounts, NRAI tells online food aggregators

New Delhi: In a bid to stop “unethical” deep discounting practices of online food aggregators amid nationwide #logout campaign, the National Restaurant Association of India (NRAI) on Tuesday told the platforms to realign their offerings to create a restaurant-friendly ecosystem, thus ending freebies and detox the consumers from discount addiction. In a meeting with the five top players — Zomato, …

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BIZ SCAN

MPT awards work of hiring shunting locomotive to RITES VASCO: The Mormugao Port Trust (MPT) has awarded the work of hiring of one (No-1400 HP) diesel/electric shunting locomotive for a period of 7 years to M/s RITES Ltd, New Delhi, a government of India enterprises on nomination basis to meet the day to day requirement of port’s railway operations. The …

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Sensex, Nifty end marginally higher; bank, auto stocks restrict gains

Mumbai: Benchmark indices Sensex and Nifty saw their gains restricted on Monday after financial and auto stocks came under selling pressure towards the fag-end of the session. A sense of caution still prevail among investors who are awaiting some measures from the government to arrest demand slowdown in various sectors which has been pulling down the economy. Further, lingering concerns …

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Loan issues, red tapeism at state level hits entrepreneurship

Kolkata: Reluctance of banks and financial institutions to provide loans to start-ups, bureaucratic red tapeism and sloth, lack of coordination and infrastructure at the level of state governments and absence of proper mentoring are among the major reasons that are killing the spirit of entrepreneurship in the country, say industry watchers and experts. Kolkata-headquartered Federation of Small & Medium Industries …

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New digital system hits India, Bangladesh trade

Agartala: Due to introduction of a new online trade management system — Electronic Data Interchange (EDI) – the India-Bangladesh trade through Tripura has been hugely affected for the past two weeks, traders and officials said on Monday. A custom official said that the EDI was introduced on August 5 in all the border trade centers in the Northeastern states along …

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Amid slowdown, RBI Governor hints at softer approach on rates

Mumbai: Indicating a softer approach on rate cuts in the wake of economic slowdown, RBI Governor Shaktikanta Das on Monday said growth is the top priority at a time when the Indian banking system is facing many challenges. In his inaugural address at the Indian Banks’ Association annual flagship conference, FIBAC 2019, here, the Reserve Bank of India (RBI) Governor …

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Rajendra Sethia: acquitted after 34 years in a trumped up case

IANS New Delhi In many ways, Rajendra Singh Sethia, the world’s biggest bankrupt in the 1980s, long before the insolvency and bankruptcy code emerged in India or the US saw its share of Chapter 11 bankruptcies, represents the archetype of a Greek tragic hero. The Nigeria and Sudan experience meant that the wheel of fortune had taken a dive, a …

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IIT researchers develop product to recover fertilizers, water from urine

PTI New Delhi Researchers of the Indian Institute of Technology (IIT) have developed a prototype that can produce green fertilizers and water from human urine. The product, ‘Water Chakra’, works on the development of a modular on-site toilet treatment unit. It recovers about 96 per cent of phosphorus and 85 per cent of nitrogen in the form of commercial grade …

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