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  • Business

    Karnataka preparing policy to regulate tech innovation

    Bengaluru, Aug 22 (IANS) The Karnataka government is drafting a policy to regulate innovation in technology and address the new age challenges with a sound legal framework, a top official said on Wednesday."Our IT department is drafting a policy on innovation in technology to address the new age challenges such as regulatory sandboxes with a sound legal framework," Additional...

    • 10 hrs ago
  • Business

    What caused RBI to shift from convention on rate cut (Lead)

    Mumbai, Aug 22 (IANS) The Reserve Bank of India had raised quite a few eyebrows when it announced an unconventional 35 basis points rate cut during its bi-monthly policy meet earlier this month.RBI Governor Shaktikanta Das, according to the minutes of the meeting released on Wednesday, said that "the economy needs a larger push" and a reduction in the policy repo rate by...

    • 11 hrs ago
  • Business

    Tribunal stays withdrawal of Karnataka iron ore mine lease

    New Delhi, Aug 21 (IANS) The Mines Tribunal has stayed the Karanatka government's order to withdraw the extension of mining lease of Donimalai Iron Ore Mine. The order will prohibit the state government to take any further action regarding mining lease or initiate auction process of Donimalai mine.The Karnataka government's decision was challenged by the National Minerals...

    • 12 hrs ago
  • Business

    NCLAT asks Jet CoC if it will work with Dutch administrator

    New Delhi, Aug 21 (IANS) The National Company Law Appellate Tribunal (NCLAT) on Wednesday asked the Committee of Creditors of Jet Airways to file an affidavit stating whether it is ready to cooperate with the Dutch bankruptcy administrator which is also pursuing insolvency proceedings against the airline.The appellate tribunal has directed the CoC to file the affidavit within a...

    • 13 hrs ago
  • Business

    Renewables won't overtake coal soon in power sector: CIL

    Kolkata, Aug 21 (IANS) Iterating that renewable energy sources were unlikely to overtake coal as the major source of power generation in India any time soon, state-owned Coal India Ltd on Wednesday said the energy migration would happen "differently" in the country as compared to many other countries switching to renewables."The question is can renewables take over coal...

    • 13 hrs ago
  • Business

    Loans from NBFCs to developers halved in FY19: Report

    New Delhi, Aug 21 (IANS) The liquidity crisis in the NBFC sector was so grave that net loan disbursal by non-banking financial companies (NBFC) and housing financing companies (HFC) to realty developers declined by nearly 50 per cent in 2018-19 on a year-on-year (YoY) basis to an estimated amount of Rs 27,000 crore, a joint report by CII and JLL saud on Wednesday.The report observed that...

    • 13 hrs ago
  • Business

    Zomato rejigs 'Gold' service, NRAI refuses to budge (Lead)

    New Delhi, Aug 21 (IANS) Giving in to the demands of offline restaurants to stop "unethical" deep discounting practices, online food aggregator Zomato on Wednesday announced to immediately reconstruct its 'Gold' service to help drive better margins for the restaurants.In a letter to its partner restaurants accessed by IANS, Zomato CEO Deepinder Goyal said the company...

    • 14 hrs ago
  • Business

    Crude, gas and refinery output slips

    New Delhi, Aug 21 (IANS) Production of crude oil, natural gas and refinery products declined in July, 2019 against the monthly target with experts attributing it to the mix of economic slowdown and seasonal trend.As per data released by Ministry of Petroleum & Natural Gas, crude oil production during July, 2019 was 2768.95 TMT (thousand metric tons) which is 5.41 per cent lower than target and 4.40 per...

    • 14 hrs ago
  • Business

    Sensex ends 267 points lower, Yes Bank shed 8% (Lead)

    Mumbai , Aug 21 (IANS) Sensex on Wednesday closed 267 points lower over growth concerns amid news of more and more job losses and slowdown effects in the economy. Investor sentiments saw no revival as an expected announcement of a stimulus package was not made."Cyclicals, including financials, metals, energy, industrials and auto, came under selling pressure as hopes of a quick stimulus...

    • 15 hrs ago
  • Business

    Assam to engage consultant to study tea industry problems

    Guwahati, Aug 21 (IANS) Assam industry minister Chandra Mohan Patowary on Wednesday said that the government will engage an outside consultant to study the problems of the tea industry.The minister's assurance came after he met stakeholders of the industry on Wednesday."The tea industry is seemingly in crisis. I am told that the planters have to purchase ration for workers from...

    • 15 hrs ago

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