News digest: PSU bank recapitalisation, Nilekani versus Murthy, and more

From Trai's fresh clarification on internet telephony rules to NDA govt's track record in farm spending, BS brings you up to speed with latest news

Govt clears Rs 2.11 lakh crore bank recapitalisation plan

With economic revival being big on the agenda, the government on Tuesday unveiled a Rs 2.11-lakh crore support for public sector banks (PSBs), struggling with mounting bad loans, in order to spur “genuine” infrastructure lending for upcoming mega projects.

The move is aimed at creating jobs and boosting economic growth, which slumped to a three-year low of 5.7 per cent in the first quarter of the current financial year. Read more

In a snub to Murthy, Infosys gives Sikka thumbs up; cuts FY18 guidance

Infosys co-founder N R Narayana Murthy on Tuesday expressed his disappointment after the company’s board led by Nandan Nilekani gave a clean chit to former chief executive Vishal Sikka over allegations of governance failure in the Panaya acquisition. Read more

Trai clarifies internet telephony rules, call charges to fall

In a move that is likely to bring down voice calling charges further, sectoral regulator the Telecom Regulatory Authority of India (Trai) has clarified that internet telephony — including voice calling — can be provided by telecom operators using any internet connection and not just through their own networks. Read More

India, US to talk trade for first time under Donald Trump

The urgent need for a totalisation agreement, besides the long pending issue of higher charges for H-1B visas, will be taken up by India in its first ministerial-level deliberation with President Donald Trump-led United States later this week. Read more

GST collections rise to Rs 92,150 crore in September

Collections under the goods and services tax (GST) rose by Rs 1,481 crore to Rs 92,150 crore in September against Rs 90,669 crore in the previous month. However, these were marginally lower by Rs 133 crore than Rs 92,283 crore in July. Read more

Our track record in farm spending much better than UPA's: Radha Mohan Singh

The NDA government has a much better track record than the previous UPA regime in budgetary allocation and spending in the farm sector, Union Agriculture Minister Radha Mohan Singh said at the Business Standard Agriculture Round Table On ‘Doubling Farmers Income by 2022’ on Tuesday. Read More