The Reserve Bank on Wednesday said the amalgamation of Lakshmi Vilas Bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The RBI issued the statement within hours of the Cabinet clearing the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL).
"I took some time to explore the contours of this initiative. I don't use the term 'game-changer' too often but it's apt in this case. For me, what's much more important than the mechanics of the scheme is the dramatic shift it signals in the attitude towards industry," Mahindra said in a tweet.
For the first time, the government on Wednesday delegated financial powers for capital procurement projects worth up to Rs 200 crore to armed forces officials below the level of vice chiefs to help them meet emerging security challenges, officials said.
The Union Cabinet also decided to promulgate an ordinance -- The Jammu and Kashmir Reservation (Amendment) Ordinance, 2019 -- to give reservation benefits to the people living along the International Border in Jammu and Kashmir, who often face shelling from across the border.
The Kerala high court on Monday dismissed petitions filed by Kerala government and others challenging the Centre's decision to lease Thiruvananthapuram international airport to Adani Enterprises.
Paras, who was sworn in as a Cabinet Minister on Wednesday in the Narendra Modi-led government and made the Minister of Food Processing Industries, asked Chirag Paswan to do "self-introspection" about his mistakes.
The Union Cabinet on Wednesday is learnt to have cleared a bill on electoral reforms, including the one to link electoral roll with Aadhaar on a voluntary basis to root out multiple enrolments.
The Union Cabinet on Wednesday approved a Rs 76,000 crore policy boost for semiconductor and display manufacturing ecosystem in the country in an bid to position India as a global hub for hi-tech production. Announcing the decision of the Cabinet, IT and Telecom Minister Ashwini Vaishnaw observed that electronics plays an important role in everyday life, and semiconductor chips forms a crucial part of electronics. Outlining the details of the scheme, he said the Rs 76,000 crore programme has been approved for the development of semiconductors and display manufacturing ecosystem.
The PM launched the multi-disciplinary sporting event through a video conference facility.
A day after unprecedented violence in Delhi during the tractor parade, the government on Wednesday said it has never stated that the doors for dialogue with farmers are closed and stressed that it will inform whenever the decision is taken for fresh talks.
From opposing the NPR and NRC to demanding special status for Bihar to staying out of the Union Cabinet on principle to showing the BJP who was boss in Bihar, Nitish Kumar has wasted no opportunity at cocking a snook at the BJP leadership. But how long can he continue, asks Gopal Krishna.
The HYV describes itself as "a fierce cultural and social organisation dedicated to Hindutva and nationalism". Alongside cow protection, its stated objectives are "complete abolishment of the differentiation between touchable-untouchable and high-low, promote the harmonious development of society".
The disengagement process between India and China in eastern Ladakh is in final stages and on the brink of completion, top officials of the country's defence establishment on Thursday told a parliamentary panel during a meeting, which sources said turned 'stormy' amid several questions asked by opposition members including Congress leader Rahul Gandhi.
Prime Minister Narendra Modi has boosted the representation of backward castes, dalits, tribals and women in his Council of Ministers in a big shake-up of his government with a focus on politically crucial states, including the all-important Uttar Pradesh.
Sonowal, a law graduate, is considered to be a rarity -- an honest politician who also worked to unite different communities with his oft-repeated lines 'Barak-Brahmaputra-plains-hills'.
The Congress hit out at the government, alleging that it was treating the EC as its "subservient tool".
The Union Cabinet on Wednesday approved the participation of the private sector in the entire range of space activities, including planetary exploration missions, Union minister Jitendra Singh said. The newly-created Indian National Space Promotion and Authorisation Centre (IN-SPACe) will provide a level playing field for private companies to use Indian space infrastructure, Singh, who is the minister of state in the Prime Minister's Office, said.
Congress president Sonia Gandhi on Tuesday wrote to Prime Minister Narendra Modi suggesting five measures to conserve money for the fight against COVID-19, including a complete ban on media advertisements by government and PSUs for two years and suspending the Central Vista beautification project.
A formal decision is expected to be announced next week after the meeting of the Union Cabinet.
JD-U national president RCP Singh reacted with a sense of vindication to the developments in the party founded by late Ram Vilas Paswan, whose son has been left cornered in a revolt led by the former's younger brother Pashupati Kumar Paras and supported by four other MPs, including nephew Prince Raj.
If AAP dominates both state and local elections, the move for unification may become the illness for the BJP instead of the medicine it was supposed to have been.
Bharti would visit the site after the official ceremony.
Last week, the Union Cabinet decided to import 1.2 lakh tonnes of onions to improve the domestic supply and control prices, which touched Rs 100 per kg earlier this month.
New ministry will bring much-needed transparency in the functioning of the cooperatives, which so far have been riddled with allegations of political interference and mismanagement.
In her four-page resignation letter addressed to the prime minister, she said, 'In view of the decision of the government of India to go ahead with the Bill on the issue of marketing of agricultural produce without addressing and removing the apprehensions of farmers and decision of my party, Shiromani Akali Dal, not to be a part of anything that goes against the interest of farmers, I find it impossible to continue to perform my duties as a minister in the union council of ministers.'
FDI is a major driver of economic growth and a source of non-debt finance for the economic development of the country. The government has put in place an investor-friendly policy on FDI, under which investment up to 100 per cent is permitted on the automatic route in most sectors/ activities. At $ 64.37 billion, FDI in 2018-19 is the highest ever investment received for any financial year.
"In view of the crisis arising out of Covid-19, it has been decided that additional instalment of dearness allowance payable to central government employees and dearness relief (DR) to central government pensioners due from January 1, 2020, shall not be paid. "The additional instalment of DA and DR due from July 1, 2020, and January 1, 2021, shall also not be paid," the department of expenditure said in an office memorandum.
The change in leadership at the railway ministry comes at a time when the national transporter is grappling with low passenger earnings even as it is trying to increase freight loading and open up its doors to private investment. Union Minister Ashwini Vaishnaw took charge from Piyush Goyal who got the railway portfolio in 2017 after Prime Minister Narendra Modii dropped Suresh Prabhu from the Union Cabinet. Completing freight corridors, negotiating land for the bullet train, and speeding up monetisation plans would be some of the major focus areas for Vaishnaw.
A court at Mahad in Maharashtra, while granting bail to Union Minister Narayan Rane, said his arrest over his controversial remarks against Chief Minister Uddhav Thackeray was "justified", but his custodial interrogation was not necessary.
Fifteen Cabinet ministers and 28 Ministers of State were sworn-in by President Ram Nath Kovind at a ceremony at Rashtrapati Bhavan on Wednesday evening.
Rajasthan Chief Minister Ashok Gehlot is determined to implement the Eastern Rajasthan Canal Project despite the Centre's indifference.
The government on Wednesday permitted NRIs to invest up to 100 per cent stake in disinvestment-bound Air India. The decision comes at a time when the government has sought preliminary bids for 100 per cent stake sale in the national carrier. "Today's decision on Air India is one milestone decision where NRIs... will get permission to invest 100 per cent in the airline," Union Minister Prakash Javadekar told reporters at a briefing about the Union Cabinet's decision.
The government on Wednesday said that all urban cooperative banks and multi-state cooperative banks will come under the supervision of the Reserve Bank of India, a development aimed at providing comfort to depositors and prevent repeat of PMC Bank like scams. The President of India will promulgate an ordinance to this effect, Information and Broadcasting Minister Prakash Javadekar told reporters after the meeting of the Union Cabinet.
The Union Cabinet will meet on Thursday to discuss the Telangana crisis in detail and the government is expected to announce a time-bound programme for the formation of a separate state, reports Vicky Nanjappa.
Addressing a press conference, Leader of Opposition in the Rajya Sabha Mallikarjun Kharge, leader of the Congress in the Lok Sabha Adhir Ranjan Chowdhury and the party's chief whip in the Upper House Jairam Ramesh alleged that the government is throttling the voice of the Opposition leaders to prevent them from raising issues of public importance.
He later had tea served in 'kulhad' with minority affairs minister Mukhtar Abbas Naqvi and paid Rs 40 for two cups.
Paswan, one of the most prominent Dalit leaders of the country who had been a part of several governments headed by rival parties, died on Thursday at the age of 74.
Notwithstanding Andhra Pradesh assembly's rejection of Telangana bill, a Group of Ministers on Tuesday cleared the draft legislation to be placed before the Union Cabinet on Thursday to pave the way for its tabling in Parliament.
The GoM recommended that activities of all religious organisations should not be allowed till May 15 as a precautionary measure to check spread of coronavirus infection, the sources added.
Here are some of the key farmer leaders who fronted the protests.
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