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Parliament passes Lokpal amendment bill

New Delhi, July 29 -- A bill to amend the Lokpal and Lokayukta Act, 2013, was passed by parliament on Thursday doing away with the time limit for public servants to furnish details of their assets and liabilities, which as per the original act was July 31 every year.

The Lokpal and Lokayukta (Amendment) Bill, 2016, which was passed by the Lok Sabha on Wednesday, was passed by the upper house on Thursday.

It allows extension of the time given to... Read More


SC to examine if state entry tax violates 'freedom of trade'

New Delhi, July 18 -- A nine judge constitution bench of the Supreme Court bench will hear from Tuesday a batch of petitions by some top corporate houses and business associations challenging the imposition of entry tax by the various state governments, contending that it was violative of the freedom of trade and commerce provided under the Constitution.

The bench of Chief Justice T.S.Thakur, Justice A.K.Sikri, Justice S.A. Bobde, Justice Shiva ... Read More


Major natural gas reserve found in Indian Ocean: USGS

Sri Lanka, July 26 -- The U.S. Geological Survey (USGS) says it has assisted the Government of India in the discovery of large, highly enriched accumulations of natural gas hydrate in the Bay of Bengal.

"Advances like the Bay of Bengal discovery will help unlock the global energy resource potential of gas hydrates as well help define the technology needed to safely produce them," said Walter Guidroz, USGS Energy Resources Program coordinator.

N... Read More


Tagore House wins Oak Grove Inter House Dramatics Competition with 'Kabuliwala'

Mussoorie, April 18 -- Inter House Dramatics of Oak Grove School was held under the roof of the school auditorium. Tagore House staged 'Kabuliwala', based on the famous story by Rabindranath Tagore. The play mesmerised the audience. Patel, Shivaji and Ashoka Houses performed 'Baal Majduri', 'Aladad Khan' and 'Daroga Ji Chori Ho Gaayi', respectively.The Chief Guest on the occasion was Principal JP Pandey. The event began with the school song by th... Read More


AXA FY16 Profit Rises; Proposes Dividend Increase - Quick Facts

India, Feb. 23 -- French insurer AXA (AXAHY.PK) on Thursday reported fiscal 2016 net income of 5.829 billion euros, up 4 percent from 5.617 billion euros last year. On a per share basis, earnings increased to 2.30 euros from 2.18 euros last year. On an adjusted basis, earnings per share rose to 2.41 euros from 2.34 euros in the prior year.

Underlying earnings increased 3 percent to 5.69 billion euros from 5.51 billion in the previous year. Under... Read More


Aareal Bank Q4 Profit Plunges, Warns On FY17 Results; Lifts Dividend

India, Feb. 23 -- Real estate lender Aareal Bank Group (AAALF.PK) on Thursday reported that its fourth-quarter consolidated net income allocated to ordinary shareholders amounted to 33 million euros, sharply lower than last year's 60 million euros.

Consolidated operating profit for the fourth quarter fell to 85 million euros from 92 million euros last year.

Net interest income stood at 169 million euros, down from 198 million euros a year ago. ... Read More


Telecom Commission raises concerns of incumbents over promotional tariff

India, Feb. 23 -- The inter-ministerial panel Telecom Commission has asked the regulator Trai to implement orders on promotional mobile tariffs in "letter and spirit" amid spat between incumbents and new entrant Reliance Jio, reported PTI.

It also asked Trai to review existing rules to ensure financial growth of the industry, an issue that incumbents -- Airtel , Vodafone and Idea Cellular -- have raised after the launch of Reliance Jio offering ... Read More


PM presses for accountability to bring improvement in telecom services

India, Feb. 23 -- Clearly unhappy over poor telecom services, Prime Minister Narendra Modi on Wednesday pressed for efficiency and accountability at all levels to bring about a visible change in the situation at the earliest, reported PTI.

He reviewed the progress towards handling and resolution of grievances related to the telecom sector while chairing a meeting of Pro-Active Governance and Timely Implementation (PRAGATI), an ICT-based multi-mo... Read More


Idea of creating state-owned ARCs to tackle NPAs gaining traction

India, Feb. 23 -- The idea of setting up a state- owned asset reconstruction company (ARC) or bad bank to deal with mounting NPAs is gaining traction and it needs to be created quickly, Chief Economic Adviser Arvind Subramanian said as per the PTI report.

"Essentially, there seems like a growing convergence towards the idea (of state-backed asset reconstruction company). The broad idea that we should do like this is gaining traction," he said.

... Read More


Jio's offer to compel rivals to bundle more data: Analysts

India, Feb. 23 -- Reliance Jio's move to end its freebies will come as a "mild" not an "absolute" relief to rivals, who will be forced to match the newcomer's offer and pack more data to stop customer churn, say analysts as per the PTI report.

Actions from competition would bring down overall pricing levels in the industry or compel a lot more data content in lower Average Revenue Per User or ARPU bundles, said a note by JP Morgan.

"RJio's new ... Read More