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Oct 08, 2017 09:06 PM IST IST | Source: Moneycontrol.com
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highlights
PNB puts 32 NPAs with outstanding loan of Rs 1,176 crore on block
State-owned Punjab National Bank (PNB) has put up assets worth as many as 32 bad loans, with outstanding loan exposure of Rs 1,176 crore, on the block in an effort to bring down its NPAs. These non-performing assets (NPA), include Hanung Toys & Textiles, Harbs India, United Foods, and Harman Textile.
PNB has a total exposure of Rs 771.65 crore to the consortium that extended the loan to Hanung Toys and Textile, as per public auction notice put up by the bank.
PM Modi holds roadshow in birthplace Vadnagar
Prime Minister Narendra Modi today held a roadshow in Vadnagar, his birthplace, in Mehsana district as he arrived here on the second day of his visit to Gujarat. A large number of Vadnagar residents queued up along the route to greet Modi who was visiting his birthplace for the first time after becoming the prime minister office in 2014.
PM Modi lays foundation stone for Bhadbhut barrage project
Prime Minister Narendra Modi today laid the foundation stone for the Rs 4,337-crore Bhadbhut Barrage project here which aims to stop the ingress of salinity along the Narmada river.
Modi, on the second day of his two-day visit to poll- bound Gujarat, also flagged off a new train between Udhna in Surat and Jaynagar in Bihar.
PM Modi launches 'Intensified Mission Indradhanush'
Prime Minister Narendra Modi today launched an intensive immunisation drive from Gujarat's Vadnagar today, saying no child should suffer from any vaccine-preventable disease.
Through the 'Intensified Mission Indradhanush' or IMI, the government aims to reach every child below the age of two years and pregnant women still uncovered under the routine immunisation programme, an official statement said.
Idea Cellular tops TRAI's 4G upload speed rankings in September
Idea Cellular today said it achieved the highest 4G upload speed in September citing data compiled by telecom regulator TRAI's MySpeed app.
Idea Cellular topped the chart in terms of average 4G upload speed for September at 6.307 mbps, the private telecom player said in a statement reeling off the TRAI data.
PM not ready to accept reality of demonetisation, GST impact: Akhilesh Yadav
Slamming the Centre over demonetisation and the GST, Samajwadi Party president Akhilesh Yadav said today that Prime Minister Narendra Modi was not prepared to accept the reality of their impact.
The former Uttar Pradesh chief minister also accused the BJP of misleading the people on issues such as the loan waiver for farmers and corruption.
US President Trump says North Korea diplomacy has failed, 'Only one thing will work'
US President Donald Trump has said that diplomatic efforts with North Korea have consistently failed, adding that "only one thing will work."
Trump has engaged in an escalating war of words with North Korean strongman Kim Jong-Un, trading insults amid rising tensions between the two nuclear-armed rivals.
Air India subsidiary AIESL inks MoU with SIAEC
Air India's subsidiary AIESL has forged a partnership with Singapore Airlines' engineering arm, as AIESL seeks to get a foothold in the global MRO market besides tapping the local business.
Under a non-binding Memorandum of Understanding (MoU) signed between Air India Engineering Services Limited (AIESL) and SIA Engineering Company (SIAEC) last week, the two "will collaborate to offer line maintenance and ancillary services at various airports in India as well as engineering training".
Petroleum dealers on nationwide strike on October 13
United Petroleum Front (UPF) today announced nationwide strike of dealers on October 13 to press for various demands including better margins and inclusion of petroleum products in the Goods and Services Tax.
It warned that if the demands were not met at the earliest, fuel dealers will be forced to stop, indefinitely, purchase and sale operations from October 27.
UPF represents over 54,000 dealers from the Federation of All-India Petroleum Traders, the All-India Petroleum Dealers Association and the Consortium of Indian Petroleum Dealers.
Supreme Court to announce verdict on plea to restore ban on firecracker sale on Monday
The Supreme Court would pronounce on Monday its verdict on the issue whether firecrackers would be sold in the Delhi-National Capital Region (NCR) during the upcoming festive season of Diwali.
A bench headed by Justice AK Sikri had on October 6 reserved its order on a plea seeking restoration of the apex court's last year order banning the sale of firecrackers in Delhi-NCR.
The top court, through its November 11 order last year, had suspended all licences which "permit sale of fireworks, wholesale and retail within the territory of NCR".
Kingfisher probe: Officials, directors under lens for violations
The role of bank executives, directors and government officials has come under the scanner for alleged violations at the now-defunct Kingfisher Airlines as multi-agency probes against fugitive liquor baron Vijay Mallya gather steam, regulatory and banking sources said.
With the Serious Fraud Investigation Office (SFIO) submitting a detailed report on the misdoings at Kingfisher Airlines, which went belly up in 2012, the government, regulators and banks are set to initiate strict actions to zero in on the guilty.
Spain's PM warns of using constitutional powers to suspend Catalonia's autonomy
Spanish PM Mariano Rajoy has warned that his government could use constitutional powers to suspend Catalonia's autonomy if it declares independence. Rajoy's comments, published in the El Pais newspaper, came on Sunday when thousands gathered in Barcelona, calling for Spanish unity.
Suzuki Motorcycles eyes 1 mn volume by 2020, double market share
Japanese two-wheeler maker Suzuki Motorcycles, which had "got into the wrong bus all these years" is betting big on India now with a strategy to double the market share to 10 percent with 1-million volume by 2020.
Thousands protest across Australia against Adani's $16.5bn coal mine project
Several protests were held across Australia against Indian mining giant Adani's proposed $16.5 billion Carmichael coal mine project, which has been delayed for years over environmental and financing issues.
Rallies were held on Saturday in Sydney, Brisbane, Melbourne, the Gold Coast and Port Douglas in North Queensland where thousands of protesters took to streets as part of a National Day of Action, according to media reports.
Saudi Aramco opens office in India, eyes higher sales
The world's top oil exporter Saudi Aramco today opened an office in India to boost its crude sales in the world's third-largest oil consuming nation.
Saudi Aramco CEO Amin H Al-Nasser opened the office of the company's subsidiary, Aramco Asia India, at Gurugram (formerly Gurgaon), an official statement said. Saudi Arabia is the second-largest crude oil supplier to India after Iraq.
Iran warns United States against imposing fresh sanctions
Iran has warned the United States against designating its Revolutionary Guards Corp as a terrorist group and said US regional military bases would be at risk if new sanctions are passed, according to The Straits Times.
President Ram Nath Kovind launches Rs 100 crore clean water initiative
President Ram Nath Kovind today launched Mata Amritanandamayi Math's Rs 100 crore clean water initiative for rural India at the math headquarters in the coastal hamlet of Vallikkavu near here.
Kovind, who is on his maiden visit to the southern state after assuming office, inaugurated the 'Jivamritam' filtration system, envisaged to provide clean drinking water to 10 million villagers across the nation.
PM Modi has inaugurated the The Antyodaya Express in Bharuch
"The Antyodaya Express is a commendable initiative by the @RailMinIndia. It connects people and particularly helps those who are from Uttar Pradesh, Bihar and work away from their home," PM Modi has tweeted.
New limit for reporting gold transactions soon: Government
The government will soon notify a new threshold for reporting to authorities about transactions in gold and other precious metals and stones with a view to curb parking of black money in bullion, Revenue Secretary Hasmukh Adhia said.
The government had on Friday reversed its August order of bringing gems and jewellery dealers under the purview of the reporting requirement of the Prevention of Money Laundering Act (PMLA).
Haj subsidy to be abolished gradually: Mukhtar Abbas Naqvi
The Centre would abolish the subsidy for Haj pilgrims in accordance with a Supreme Court order, Union minister Mukhtar Abbas Naqvi said today.
"A constitutional bench of the Supreme Court had, during the Congress regime in 2012, directed that the Haj subsidy be done away with. Hence, in the new policy, as per the recommendations of a committee, we have decided to do away with the Haj subsidy gradually," he told PTI.
Seven of 10 most valued cos add Rs 63,444 crore in m-cap
Only HDFC Bank, HDFC and Maruti Suzuki India suffered losses in their market capitalisation (m-cap) for the week ended Friday. Rest seven companies, including Tata Consultancy Services (TCS), ITC and Hindustan Unilever (HUL) saw rise.
PNB puts 32 NPAs with outstanding loan of Rs 1,176 crore on block
State-owned Punjab National Bank (PNB) has put up assets worth as many as 32 bad loans, with outstanding loan exposure of Rs 1,176 crore, on the block in an effort to bring down its NPAs. These non-performing assets (NPA), include Hanung Toys & Textiles, Harbs India, United Foods, and Harman Textile.
PNB has a total exposure of Rs 771.65 crore to the consortium that extended the loan to Hanung Toys and Textile, as per public auction notice put up by the bank.
Exporters' pending GST refunds to be cleared in 2 months: Revenue Secy
The government will clear pending GST refunds of exporters by November-end and over the next six months no tax will be levied on exports as the Council has decided to revert to the pre-GST era, Revenue Secretary Hasmukh Adhia said.
PM Modi holds roadshow in birthplace Vadnagar
Prime Minister Narendra Modi today held a roadshow in Vadnagar, his birthplace, in Mehsana district as he arrived here on the second day of his visit to Gujarat. A large number of Vadnagar residents queued up along the route to greet Modi who was visiting his birthplace for the first time after becoming the prime minister office in 2014.