BUSINESS AWAAZ

India- Africa Summit would provide unique platform for these countries: Sitharaman

AMN / Commerce and Industry Minister Nirmala Sitharaman Friday said that the upcoming India- Africa Forum Summit would provide a unique platform for India and African countries to identify areas of cooperation and enhancing the partnership. Speaking at the 4th India- Africa Trade Ministers’ Meeting in New Delhi, Ms Sitharaman said, cooperation in Trade, Technology … Continue reading India- Africa Summit would provide unique platform for these countries: Sitharaman

Japan offers soft loan for bullet train project

Facing competition from China and other countries keen to be part in the first bullet train project, Japan has offered financial support besides technology for India’s ambitious rail project. Railway Ministry sources said, Japan has offered to finance Mumbai-Ahmedabad high speed rail corridor estimated to cost about Rs 90,000 crore at an interest rate of … Continue reading Japan offers soft loan for bullet train project

RBI allows banks to fix interest rates on gold scheme

  AMN /    … Reserve Bank has issued guidelines for the Gold Monetisation Scheme that allows banks to fix their own interest rates on gold deposits. The gold deposit scheme is aimed at mobilizing a part of an estimated 20,000 tonnes of idle precious metal with households and institutions. As per the guidelines, banks … Continue reading RBI allows banks to fix interest rates on gold scheme

Pulses importers seek exemption from stock holding limit

Importers of pulses have sought exemption from stock holding limit saying prices will come down only when there is smooth availability of imported Dal. In a meeting with Finance Minister Arun Jaitley in New Delhi today, they requested him to grant an exemption from the stock limit, as any kind of restriction will dry the … Continue reading Pulses importers seek exemption from stock holding limit

Govt approves bonus hike for industrial workers

AMN / The Cabinet has approved increase in bonus ceiling to 7,000 rupees per month for industrial workers. According to the proposal, the wage ceiling for getting bonus has also been increased from existing 10,000 rupees per month to 21,000 rupees per month. The decision will make workers eligible for the reward. It also proposes … Continue reading Govt approves bonus hike for industrial workers

M’rarashtra imposes MACOCA against hoarders

AMN Maharashtra has decided to use stringent MACOCA law against the hoarders and black marketeers while the state machinery began large-scale raids on suspected hording of pulses by the commercial establishments. It has also imposed stock limits on pulses, edible oil and edible oil seeds on the lines of the measures recently taken by the … Continue reading M’rarashtra imposes MACOCA against hoarders

Over 5,800 tonnes of pulses seized after action against hoarders

AMN The Centre today said action against hoarders and blackmarketeers has been stepped up and the state governments have seized over 5,800 tonnes of pulses in five states over the last few months. Cabinet Secretary Pradeep Kumar Sinha reviewed the prices, production, procurement and availability of pulses in a meeting with secretaries of Consumer Affairs, … Continue reading Over 5,800 tonnes of pulses seized after action against hoarders

Series of banking reforms initiated to curb black money: PM

AMN / Prime Minister Narendra Modi has said that the government has initiated a series of banking reforms including re-capitalisation of PSU banks, change in rules for hiring top management and paper-less transactions to curb the black money menace. Speaking at the launch of IDFC Bank in New Delhi, he said, the entire banking sector … Continue reading Series of banking reforms initiated to curb black money: PM

Govt to import 2000 tonnes more Arhar, 1000 tonnes of Urad dal

Government will import an additional quantity of 2000 tonnes of Arhar and 1000 tonnes of Urad dal. MMTC will float tender immediately. This was decided during a high level meeting on availability of pulses chaired by Cabinet Secretary P K Sinha in New Delhi today. Mr. Sinha also reviewed the imposition of stock limits and … Continue reading Govt to import 2000 tonnes more Arhar, 1000 tonnes of Urad dal

Pulses hoarding: Centre imposes stock limits for traders

AMN / Government has imposed stock limits on pulses held by importers, exporters, licensed food processors and large departmental retailers to prevent its hoarding. Food and Consumer Affairs Ministry in a release said, the Central Order under Essential Commodities Act, 1955 has been amended with immediate effect to increase the availability of pulses. The government … Continue reading Pulses hoarding: Centre imposes stock limits for traders

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