The Reserve Bank of India via notification on 23 February 2018, launched Ombudsman Scheme for non-banking financial companies (NBFCs), registered with RBI under section 45-IA of the RBI Act, 1934, for redressal of complaints against them. The scheme was announced Read More …
Category: Economy
Inland Waterways Authority of India has engaged KPMG for Jal Marg Vikas Project
The Inland Waterways Authority of India (IWAI) has engaged KPMG, a reputed consultant, to study and devise a framework for operationalization and maintenance of the assets being built on National Waterways-1 under the World Bank funded Jal Marg Vikas Project (JMVP) . Read More …
Cabinet approves new methodology for auction of coal mines
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi on 20 February 2018, approved the methodology for auction of coal mines / blocks for sale of coal under the Coal Mines (Special Provisions) Act, 2015 and Read More …
Union Cabinet approved National Urban Housing Fund (NUHF)
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi on 20 February 2018, gave approval for creation of National Urban Housing Fund (NUHF) for Rs.60,000 crores. This fund will be situated in Building Materials and Technology Promotion Council Read More …
National Banana Festival, 2018
The National Banana Festival, 2018 is being held at Kalliyoor in Thiruvananthapuram (Kerala) between 15- 17 February 2018. The Union Agriculture & Farmers Welfare Minister, Shri Radha Mohan Singh inaugarated the festival on 17 February and highlighted the scenario of Read More …
GDP base year changed to 2017-18 and four new surveys launched
The central government has changed the base year to 2017-18 to calculate Gross Domestic Product (GDP), Index of Industrial Production (IIP) and Consumer Price Index (CPI) to accommodate and factor the changes take place in the economic scenario of the Read More …
RBI’s revised guidelines for resolution of bad loans
Reserve Bank of India on 12 February issued a revised guidelines for expeditious resolution of bad loans, harmonising the existing guidelines with the norms specified in the Insolvency and Bankruptcy Code (IBC). The new guidelines have specified framework for early Read More …
India’s first ever Highway Capacity Manual
The Minister of Road Transport & Highways Shri Nitin Gadkari released India’s first ever Highway Capacity Manual in New Delhi on 12 February 2018. The manual, known as Indo-HCM, has been developed by CSIR – CRRI on the basis of an extensive, Read More …
International Intellectual Property (IP) Index 2018-India at 44th place
India has jumped by one place in the sixth edition of the the U.S. Chamber of Commerce Global Innovation Policy Center’s (GIPC) ’ International Intellectual Property (IP) Index 2018. India has been ranked at 44th place among 50 nations with 30% Read More …
Wipro launched ‘Internet of Lighting’ solutions
Wipro Lighting, an electric arm of Wipro, launched ‘Internet of Lighting’ (IoL) solutions for smart homes, smart buildings, smart cities. The company has collaborated with Cisco and pureLi-Fi, Scotland for this new age solutions. Like Internet of Things (IoT), Internet of Lighting (IoL) Read More …
SBI posted first quarterly loss since 1999
State Bank of India, India’s largest lender, reported a loss of Rs 2,416.37 crore in third-quarter of 2017-18 financial year. This is the highest quarterly loss State Bank of India has reported since January-March 1999, when it recorded a loss Read More …
ASH TRACK App for Fly Ash managment launched
Union Minister of State for Power and New & Renewable Energy, Shri R.K Singh, launched a Web based monitoring System and a Fly Ash mobile application named ASH TRACK on 9 February 2018. These platforms will enable better management of Read More …
Major Port Authorities Bill 2016-incorporation of the Official Amendments
The Union Cabinet on February 7, 2018 approved the incorporation of the Official Amendments to the ‘Major Port Authorities Bill 2016’, which is pending in the Parliament. The Amendments are based on the recommendations of the Department-related Parliamentary Standing Committee. Following Read More …
Basis of classifying Micro, Small and Medium enterprises has been changed
The Union Cabinet on 7 February 2018 approved change in the basis of classifying Micro, Small and Medium enterprises from ‘investment in plant & machinery/equipment’ to ‘annual turnover’. Section 7 of the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 Read More …
Indian Railway introduced ‘General Conditions of Contract for Services (GCC)’
Indian Railway on February 5, 2018, first time introduced ‘the new policy of General Conditions of Contract for Services” (GCC). What is GCC: It is a simplified, outcome focused GCC catering specifically to Services to improve contract management, delivery of Read More …