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4:22 PM

Congress releases names of candidates for MP bypolls

4:08 PM

RBI lays down guidelines for banks to appoint chief compliance officers

RBI on Friday laid down guidelines for appointment of chief compliance officer (CCO) in banks to ensure uniform approach with regard to compliance and risk management culture across the banking industry.

 

According to an RBI circular, the CCO should be appointed for a minimum fixed period of three years in the rank of a general manager or not below two levels of the rank of CEO.

 

"Such an independent compliance function is required to be headed by a designated CCO selected through a suitable process with an appropriate 'fit and proper' evaluation/selection criteria to manage compliance risk effective," the RBI said.

4:02 PM

Andhra CM launches 'YSR Asara' to free women from debt trap

Andhra Pradesh Chief Minister Y. S. Jagan Mohan Reddy on Friday launched the 'YSR Asara' scheme, which will benefit 87 lakh women belonging to 8.71 lakh self-help groups (SHGs).

 

"Today, your Jagan stands before you as someone who is fulfilling the promise he made. I promised that I will reimburse all outstanding loans of SHGs as on April 11, 2019 in four installments and today, I am releasing the first," said Reddy.

 

He asked if any other state government ever introduced such a big scheme, benefiting so many women.

3:52 PM

India's FDI to Nepal stood at Nepali Rs 3.24 billion for 2019-20

India in 2019 has committed foreign direct investment (FDI) of Nepali Rupees 3.24 billion for the year 2019-20, data from the Department of Industry showed.

 

India in last the fiscal year proposed a total of 16 FDI proposals with pledges mainly targeting hotels with restaurants, manufacturing industry and construction industry and software development. In the year of 2018-19, the investment proposals stood at 50.

3:47 PM

Japan's Orix to invest $980 million in Indian green energy firm Greenko

Japan's Orix Corp said on Friday it would invest about $980 million in Indian renewable energy firm Greenko Energy Holdings as the company sees the fast-growing Asian market as a pillar of its overseas strategy.

 

The move comes as Japanese companies including utilities, oil refineries and trading houses are stepping up their investments in renewable energy assets at home and abroad as countries around the globe switch to cleaner energy to meet pledges to curb climate change.

 

Orix will take a stake of more than 20% in Greenko within this year, according to a statement.

3:33 PM

Govt releases Rs 6,195 crores to 14 states as devolution of taxes

3:24 PM

Rupee settles 7 paise lower at 73.53 against US dollar

The rupee depreciated 7 paise to close at 73.53 against the US dollar on Friday tracking muted domestic equities.

 

The local unit opened at 73.50 at the interbank forex market, and settled for the day at 73.53 against the US dollar, down 7 paise over its last close. During the session, the domestic unit witnessed an intra-day high of 73.40 and a low of 73.61 against the greenback.

 

The local currency settled at 73.46 against the American currency on Thursday. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.13 per cent to 93.21.

3:13 PM

Adani Green Energy posts Rs 22 cr profit for June quarter

Adani Green Energy on Friday posted a consolidated net profit of Rs 21.75 crore for June quarter mainly on the back of higher revenues.

The company had a net loss of Rs 97.44 crore in April-June 2019-20, a BSE filing said. Total income rose to Rs 878.14 crore in April-June 2020-21 from Rs 675.23 crore in the same period last year.

The net export (of electricity) increased to 1,382 million units in the first quarter, up 24 per cent from the year-ago period.

3:06 PM

Air India Express to get $51 million for loss of aircraft in Kozikode accident

The Air India Express will get about $51 million towards the loss of its Dubai-Kozhikode aircraft in the accident in Kozhikode airport last month, a senior insurance industry official said.

 

On August 7, the ill-fated Air India Express skidded off the runway of the Kozhikode airport and fell into a valley before breaking into two pieces, killing 18 persons and leaving scores injured.

 

"The total claim amount to be paid to Air India Express for loss of aircraft/hull will be about $51 million. The aircraft has been insured for $50 million which will be paid as it is a total loss. A sum of $1 million will also be paid towards increased cost of working," the senior official with one of the four insurers told IANS preferring anonymity.

2:48 PM

UK and Japan strike Britain's first post-Brexit trade deal

Britain struck its first post-Brexit trade deal with Japan on Friday, hailing the agreement as a "historic moment", just as it is struggling to clinch a deal with its closest trading partners in the European Union.

 

Britain said the deal, which had been agreed in principle, meant 99% of its exports to Japan would be tariff-free. Digital and data provisions in the agreement went "far beyond" those in the EU's trade deal with Japan, helping British fintech firms operating in the Asian country, it said.

 

Financial services firms, food producers, coat-makers and biscuit bakers - as well as cheese producers - would benefit from the agreement which represented an "important step" towards Britain joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in the Asia-Pacific region.

2:35 PM

Uttarakhand: Vigilance dept declared 'intelligence org', out of RTI ambit

The Vigilance department in Uttarakhand has been declared an intelligence organisation putting it out of the ambit of the Right To Information (RTI) Act.

 

A notification on this was issued by the state government on Thursday following the Governor's consent.

 

The step has been taken using powers vested in the Governor under sub-section 4 of section 24 of the RTI Act, 2005 and sub-section 1 of section 4 of Uttar Pradesh Vigilance Establishment Act, 1965, the notification signed by secretary, personnel and vigilance, Radha Raturi said.

2:23 PM

Passenger vehicle sales up 14% in Aug; snaps 9 months of continuous slide

Passenger vehicle wholesales in India rose by 14.16 per cent in August to 2,15,916 units driven by pent-up demand, industry body SIAM said on Friday.

 

According to the latest data by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicles wholesales stood at 1,89,129 units in the same month last year.

 

Passenger vehicle sales have returned to positive territory in August after nine consecutive months of decline. It was in October last year that the segment had posted a marginal growth snapping 11 continuous months of decline in sales.

2:14 PM

Centre urges states, UTs not to restrict movement of medical oxygen

No restriction should be imposed on inter-state movement of medical oxygen, the Union Health Ministry said on Friday, while strongly reinforcing that it is the responsibility of every state and Union Territory to ensure hospitalised Covid-19 patients receive oxygen.

 

The ministry said it has come to its knowledge that a few states are trying to curb free inter-state movement of oxygen supplies by exercising provisions under various Acts and also mandating manufacturers or suppliers in their jurisdiction to restrict oxygen supplies to only hospitals of the state.

2:06 PM

Kerala to request EC to conduct by-polls along with 2021 Assembly Elections

1:54 PM

MP govt to provide 15 ventilators to AIIMS Bhopal

In a bid to increase the number of ICU beds at All India Institute of Medical Sciences (AIIMS) in Bhopal, the Madhya Pradesh government will soon provide 15 ventilators and all other possible assistance, state minister Vishwas Sarang said.

 

After reviewing the facilities at AIIMS in light of the Covid-19 pandemic on Thursday, the medical education minister said the state government has discussed with the Centre the matter of procuring 100 ventilators for the institute.