This is being done keeping in mind the urgency of these transactions, and it would help the ongoing insolvency cases, including the 12 accounts referred by RBI to banks.
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
The decision was taken by the ministry this week, a top Coal Ministry official said, while refusing to reveal the names of the companies.
If cleared, the ONGC arm will become the first subsidiary company of an existing Maharatna to get into this superior league among government-owned entities.
The S&P BSE Sensex ended down 371 points at 24,966 and the Nifty50 closed 101 points lower at 7,615.
'After decades, there is movement on multiple fronts in artillery development. Now let us see how quickly we can get these guns into service'
The government hopes that the PLI schemes would provide 200,000-300,000 direct employment over five years, according to sources in the know.
In a first, Prime Minister Narendra Modi on Wednesday met the secretaries of all the government departments collectively and asked them to directly get in touch with him to resolve issues and expedite decision-making.
The government's ambitious plan to make Steel Authority of India Limited a mega PSU may hit a roadblock with several smaller PSUs under the Steel Ministry expressing unwillingness to merge with the steel behemoth.
Jindal Steel and Power and JSW Steel, are in competing talks to buy parts of insolvent Italian steelmaker Lucchini.
The company has obtained the stage-I forest clearance from the Union Ministry of Environment and Forests. Subject to fulfilment of the stage-I conditions in terms of mitigation measures, steps will be taken for the next stage of approval, said official sources.
In the third reshuffle since coming to power, Prime Minister Modi raised the strength of his Council of Ministers from 73 to 76.
Among the major ones are fewer restrictions on market access for US medical device manufacturers, as well as access for other key products.
Eight of the 30 companies in the BSE Sensex that shared data reported 99 fatalities in 2016-17 against 86 in the previous year. These lives were lost due to industrial accidents at manufacturing facilities. Fatalities owing to road accidents were excluded from the count.
The NCEAR has indicated some improvement in the fourth quarter of the current financial year.
POSCO officials have said it was unlikely to build the plant without assured supply of iron ore.
Last month, the FAC passed the buck to the tribal affairs ministry to see if the project proponents violated any tribal rights.
The fate of industrial projects worth over Rs 60,000 crore will be decided by an expert committee of the environment ministry at a two-day meeting beginning Wednesday. The committee will take up 32 new proposals, including modernisation and expansion of steel, aluminium and cement plants belonging to the top-notch companies.
'The target for next year is unlikely to be more than that of this year. The more you divest in any cycle, the less your potential pipeline for the next,' said an official. 'The first two issues we want to tackle and complete in FY20 are Air India and Hotel Ashok.'
The eight core industries -- fertilisers, cement, steel, electricity, crude oil, coal, petroleum refinery products and natural gas -- have a combined weight of about 38 per cent in the Index of Industrial Production.
Mr Tata said a letter had arrived in his office from a young woman who had applied for the graduate engineering programme of TELCO Pune and been turned down. 'I wouldn't interfere with your selection process, Maira,' he said. 'However, I am calling you because this lady says that her rejection letter says that though she is very well qualified for the programme, TELCO Pune cannot select her because she is a woman.' 'Why are you discriminating against women?' he asked. A must read excerpt from Arun Maira's The Learning Factory: How The Leaders Of Tata Became Nation Builders.
The Central Bureau of Investigation has recorded statements of the then ministers of state in the coal ministry Santosh Bagrodia and Dasari Narayan Rao in connection with the coal block allocation scam.
In order to increase its payload capacity and save fuel, the railways are considering a proposal to procure aluminium wagons by 2012-13, when the dedicated freight corridor is scheduled to become operational. The final decision would be taken after a cost-benefit study, said senior railway ministry officials. Aluminium wagons will be costlier than the steel and stainless steel wagons that are in use currently.
They said that massive public investment in infrastructure, social sectors and agriculture would generate employment and the Union Budget should give it a priority and allocate necessary funds for this.
The prime minister is likely to talk about its possible extension.
A slew of draft documents -- for Request for Qualification (RFQ), Concession Agreement Guiding Principles, Project Information Memorandum (PIM) along with a presentation on the salient features of the project -- for discussion on private participation in passenger trains have been uploaded by Niti Ayog on its website which outline the railways' plans of running 150 trains on 100 routes by private operators, envisaging an investment of Rs 22,500 crore.
Taking forward the drive to sell stake in state-owned firms, the Finance Ministry has asked the Ministry of Steel to divest about 10 per cent of its stake in RINL within next two years and list the firm on bourses or else the PSU's status of Navratna will be withdrawn.
The base price would be made public only after the close of market hours on Thursday.
A virologist answers questions on the deadly virus presently haunting the world.
The growth of eight core sectors slowed down to 2.6 per cent in August mainly due to contraction in steel output.
5 commodities namely crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of GST's purview given the revenue dependence of state governments on these sectors.
Former Union minister Virbhadra Singh on Tuesday said he was ready to face a probe into allegations that he received payments from a private steel firm provided the role of others, including Madhya Pradesh Chief Minister Shivraj Singh Chouhan is also investigated.
The 606 positive cases includes 43 foreign nationals, the ministry said. On Tuesday, the number of cases was 519.
Steel Ministry is unwilling to sell shares at lower than the present book value of Rs 22.50 a share. Merchant bankers UBS Securities and Deutsche Equities (India) have proposed Rs 15-17 as the price band.
Growth in output of coal, cement and electricity slowed to 0.3%.
India's export basket for Pakistan has a limited portfolio as Pakistan has not given 'most favoured nation' status to New Delhi and such goods have ready market in South Asia and the Middle East.
The Centre stressed that the next three weeks will be critical for the country reeling from the worst health crisis as it announced a series of measures to shore up medical infrastructure and supplies and scale up vaccination.
A Ganesh Nadar/Rediff.com brings you some fascinating facts and photographs from India's first international rail exhibition.
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