BUSINESS AWAAZ

FSSAI proposes ban on sale of nutraceuticals as medicines

Food Safety and Standards Authority of India, FSSAI has proposed a ban on the sale of health supplement products as medicines. Under the draft regulations published in official gazette, the FSSAI said, the companies cannot claim that their nutraceuticals and health supplement products are of therapeutic and curative value. Every package of food or health … Continue reading FSSAI proposes ban on sale of nutraceuticals as medicines

FIs pull out Rs 7,000 Cr from capital markets in 2 weeks

Foreign investors have pulled out nearly 7,000 crore rupees from the capital markets in about two weeks mainly on account of a combination of global and domestic issues. Foreign portfolio investors withdrew a net sum of 6,109 crore rupees from equities, while they pulled out 773 crore rupees from the debt markets during September 1 … Continue reading FIs pull out Rs 7,000 Cr from capital markets in 2 weeks

India, US to increase bilateral trade to 500 billion dollar: Jaitley

AMN / India’s Finance Minister Arun Jaitley today invited US businesses to take advantage of the huge investment opportunity in the infrastructure sector in India and raise bilateral trade to 500 billion US dollars. Presently, the trade between the two countries stands at 100 billion dollars. Addressing the 11th Indo-US Economic Summit in New Delhi, … Continue reading India, US to increase bilateral trade to 500 billion dollar: Jaitley

WPI inflation falls to 4.95 % in Aug

AMN / The Wholesale Price Index (WPI) inflation fell for the tenth straight month, plunging to a historic low of minus 4.95 percent in August on cheaper fuel and vegetables. The WPI inflation was minus 4.05 per cent in July. It has been in the negative zone since November 2014. As per official data released … Continue reading WPI inflation falls to 4.95 % in Aug

India ready to deal with US interest rate hike: Fin Min

Economic Affairs Secretary Shaktikanta Das has said the government and RBI are prepared for all eventualities in case of a possible rate hike by US Federal Reserve. Speaking at a function in New Delhi, Mr Das said US administration will do it in a calibrated and cautious manner so that it doesn’t affect other economies … Continue reading India ready to deal with US interest rate hike: Fin Min

RBI cancels certificate of Sahara India Financial Corporation as NBFC

Reserve Bank has cancelled the certificate of registration of the Sahara India Financial Corporation as Non-bank financial company, NBFC. In a statement on Monday, RBI said that the registration of the Lucknow-headquartered NBFC stands cancelled with effect from 3rd of September. It said, following the cancellation of registration certificate, the company cannot transact business as … Continue reading RBI cancels certificate of Sahara India Financial Corporation as NBFC

India’s Exports dip for 9th month in a row; Decline 20.7% in Aug

Contracting for the ninth straight month, the country’s exports plunged 20.7 per cent in August this year, to 21.3 billion dollars. The export slump was due to the global economic slowdown, and falling commodity prices. According to Commerce Ministry data, imports declined almost 10 per cent in August, to 33.7 billion dollars. And the trade … Continue reading India’s Exports dip for 9th month in a row; Decline 20.7% in Aug

Govt approves scheme to provide urban facilities in rural areas

TIA NEWS / The Union Cabinet today approved a scheme to transform rural areas into economically, socially and physically sustainable spaces. Named as Shyama Prasad Mookerjee Rurban Mission, SPMRM, the government has earmarked over Rs 5,000 crore for this scheme to drive economic, social and infrastructure development in rural areas. Addressing the media after Cabinet … Continue reading Govt approves scheme to provide urban facilities in rural areas

Govt approves promulgation of Negotiable Instruments Ordinance

AMN / The Union Cabinet today approved a proposal to promulgate the Negotiable Instruments (Amendment) Ordinance, 2015. The ordinance provides for filing of cheque bounce cases at the place where the cheque was issued. An official release said, the clarity on jurisdictional issues for trial of cases of cheque bouncing would increase the credibility of … Continue reading Govt approves promulgation of Negotiable Instruments Ordinance

Indian economy to grow 7.2% this fiscal: OECD

Organisation for Economic Cooperation and Development OECD has said that India is projected to grow at a slightly lower pace than expected earlier at 7.2 per cent this fiscal. Releasing its interim economic outlook report today, OECD, however said the country is expected to be the fastest-growing major economy over the coming two years. It … Continue reading Indian economy to grow 7.2% this fiscal: OECD

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MARQUEE

Policy for Eco-tourism will provide livelihood to local communities

AMN / NEW DELHI GOVERNMENT OF INDIA has prepared a policy for Eco-tourism in forest and wildlife areas, which ...

Living index: Pune best city to live in, Delhi ranks at 65

The survey was conducted on 111 cities in the country. Chennai has been ranked 14 and while New Delhi stands a ...

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