Business

E-vehicle sector for priority-lending, R&D incentives in Budget

NEW DELHI:  With government committed to bringing the electric vehicle (EV) revolution to India in the next few years, the industry expectations from the Union Budget 2019-20 run high.

Don't regulate us for the sake of it: Pichai

NEW YORK: Facing an anti-trust probe from the US government, Google CEO Sundar Pichai has cautioned against those who may want to regulate the tech giants "for the sake of regulating."

Uber, Bajaj introduce passenger quadricycle in Bengaluru

BENGALURU:   Ride-hailing giant Uber on Thursday announced partnering with Bajaj Auto to introduce its Bajaj Qute passenger quadricycle in its fleet of UberXS services.

IDBI Bank hopes to exit PCA framework this year: MD

NEW DELHI: State-run IDBI Bank on Thursday said it expected to come out of the RBI's prompt corrective action framework (PCA) this year by lowering its net non-performing assets (NPAs or bad loans) level, which is the key benchmark for moving out of the PCA restrictions.

IL&FS case: Rating agencies faked IFIN ratings to dupe investors

NEW DELHI:  Credit rating agencies played major villain in the IL&FS crisis as they adjudged positive and impressive ratings on a regular basis to commercial papers and non-convertible debentures (NCDs) of IL&FS Financial Services (IFIN) despite unhealthy financial condition of the company, revealed an investigation report submitted by the Serious Fraud Investigation Office (SFIO) to the Ministry of Corporate Affairs.

FDI in India grew by 6% to $42bn in 2019: UNCTAD

UNITED NATIONS:  Foreign Direct Investment (FDI) in India grew by 6 per cent to $42 billion last year, according to the UN Conference on Trade and Development (UNCTAD).

After tyre burst, SpiceJet aircraft makes safe landing in Jaipur

JAIPUR:  Timely co-ordination by pilots and the air traffic control (ATC) helped avert a major tragedy at the Jaipur airport on Wednesday, when a SpiceJet aircraft made a safe landing after one of its tyres burst while taking off from Dubai.

Jalan panel on RBI surplus hope to submit report in June

NEW DELHI:  The Bimal Jalan-led committee tasked to make recommendations on the RBI's Economic Capital Framework regarding the central bank's reserves, will meet once again this month and hopes submit its report by end of June, panel Chairman Bimal Jalan said on Wednesday.

Cash-rich global giants unable to compete with homegrown payments leader Paytm

NEW DELHI:  With 550 crore transactions in the financial year 2018-19 and a gross transaction value (GTV) of over $50 billion (around Rs 34,706 crore), homegrown digital payments company Paytm continues to dominate its global counterparts -- Google Pay, Whatsapp Pay and Walmart-Phonepe.

Domestic passenger cars sales down 26% in May

NEW DELHI:  Domestic passenger cars' sales continued to decline in May, the segment's off-take fell 26.03 per cent.

Heat in plains sets Himachal's cash register ringing

SHIMLA : To escape the scorching heat in the plains, tens of thousands of people are heading to the cool environs of Himachal Pradesh.

Finance ministry mulling 3-5% tax in Budget on cash withdrawal of 10 lakh a year

NEW DELHI:  Withdrawing a cumulative Rs 10 lakh a year can attract 3-5 per cent tax if a proposal going around in the Finance Ministry takes shape in the Budget to track high value cash deals and make digital payments mandatory.

Videocon loan case: Chanda Kochhar skips ED questioning

NEW DELHI: Former ICICI Bank CEO and managing director Chanda Kochhar on Monday skipped questioning by the Enforcement Directorate (ED) in connection with a Rs 1,875-crore Videocon loan case citing poor health.

G20 Finance Ministers call for creation of digital tax

TOKYO: The Finance Ministers of the G20 member nations on Saturday called for the creation of a digital tax for multinational technology companies, the details of which will be finalized next year.

Traits of the 360 Degree Feedback System

There is the implication of the 360 degree feedback appraisal. This is the incredible platform to help in the successful assessment of the employees. The kind of assessment will help in giving the complete picture of the employee performance in the field. The appraisal will also state his or her conduct at the job place with the collection of the essential feedback from the several stakeholders. In the usual case, the 360 degree option is introduced in case of the employees through the administrative mechanism and this includes the various human resources at length. The process is highly effective and absolutely hassle-free.

MCA hints at RBI inaction on non-compliance of IFIN on key benchmarks

NEW DELHI:The Ministry of Corporate Affairs (MCA) has hinted at the indifference of RBI on the IL&FS's financial services arm (IFIN) for not meeting the basic criteria on CRAR (Capital-to-risky Asset ratio) and NOF (Net owned Funds) and the company's auditors' taking refuge in such lack of response from the apex bank in taking action on time against the company.

ILAMED launches Aesthetic Medicine Mobile App for Physicians

NEW DELHI: ILAMED, an Aesthetic Medicine Training network in India and Abroad exclusive to physicians, today introduced ILAMED Mobile App, an application that allows physicians to access the country's greatest concentration of Aesthetic medicine knowledge in real-time. ILAMED Mobile App, an online resource where physicians from across the globe can collaborate, discuss and consult with each other to provide the highest quality care to their patients.

IMF raises forecast for US to 2.6% in 2019

WASHINGTON:  The International Monetary Fund (IMF) has raised economic growth forecasts for the US to 2.6 per cent this year and 2 per cent in 2020, compared to 2.3 per cent and 1.9 per cent in April respectively, despite the trade war with China and threats to Mexico.

Gen VK Singh opens Rs 49 crore Vasundhara flyover

GHAZIABAD: Union Minister of State for Surface Transport Gen (retired) V.K. Singh opened the Vasundhara flyover for public here on Thursday.

RBI to remove transaction charges on RTGS, NEFT

MUMBAI:  In a bid to boost digital fund transfer systems, the Reserve Bank on Thursday said that it will remove charges levied on transactions conducted through Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT).

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