Business India News


State limit of cash account holder can withdraw: SC to government
New Delhi, Dec 9 : The Supreme Court on Friday asked the government to state the threshold limit of cash that each account holder can withdraw from banks across the country without being refused. Read Full Story

Lok Sabha adjourned for the day over demonetisation
New Delhi, Dec 9 : The Lok Sabha was on Friday disrupted again, witnessing two adjournments before noon, and being adjourned for the day with ruling and opposition members sparring over the demonetisation issue. Read Full Story

India should brace for tough period due to note ban: Manmohan
New Delhi, Dec 9 : Former Prime Minister Manmohan Singh said in remarks published on Friday that Indians should be ready to face "a tough period over the coming months" due to demonetisation. Read Full Story

Kapture CRM gets selected for Google launchpad
New Delhi [India], Dec 9 : Kapture CRM, the fast growing Indian Mobile-first SaaS CRM Startup has been selected to be a part of the third batch at Google Launchpad Accelerator. This program will enable the team to work closely with Google engineers, mentors and resources for six months. The opportunity will be utilized to improve its product offerings and market strategy. Read Full Story

'World Business Conclave' 2016 to recognize importance of SMEs in India
New Delhi [India], Dec 9 : Celebrating Asia-Pacific's success story and offering impetus to the world's fastest growing economy India, Stimulus Research Services has proudly announced the World Business Conclave 2016, which will take place on December 11, 2016 in one of the palatial properties Hotel Grand Hyatt, Hong Kong. Read Full Story

Maruti Suzuki, Ola collaborate to create pool of skilled drivers
New Delhi [India], Dec 9 : Maruti Suzuki India Limited on Friday announced signing of an MoU with Ola to train aspiring drivers-partners under the 'Maruti Ola Training Program' where the company aims to target and benefit Ola partner-drivers in safe driving, over a period of three years. Read Full Story

Less cash economy to help India leap frog to levels of developed world in doing business, says ASSOCHAM President
New Delhi [India], Dec 9 : Prime Minister Narendra Modi's bold drive to take the economy into a 'less cash' mode through a multi-pronged strategy would not only check the menace of black money and corruption but would also lead to a large part of the informal economy into the organized sector, said ASSOCHAM President Sunil Kanoria. Read Full Story

Short covering buoys Indian equities
Mumbai, Dec 9 : Indian equities markets were on Friday buoyed by short covering, coupled with higher crude oil prices and mixed global indices, during the mid-afternoon trade session. Read Full Story

Will make India net exporter of fighter aircraft: Saab ( Interview)
New Delhi, Dec 9 : Swedish aerospace major Saab says it would set up a brand new production line in India if it wins an Indian Air Force (IAF) contract for single-engined combat jets and would make the country a net exporter of such fighters -- once the necessary procedures are in place. Read Full Story

Opposition should apologise to people: Naidu
New Delhi, Dec 9 : Information and Broadcasting Minister M. Venkaiah Naidu on Friday took on the Opposition asking it to apologise to the country for not letting Parliament function over the issue of demonetisation. Read Full Story

Microsoft unveils Azure Blockchain as Service
New Delhi, Dec 9 : Microsoft on Friday launched Azure Blockchain as a Service (BaaS) that provides a rapid, low-cost and low-risk platform for organisations to collaborate together by experimenting with new business processes, backed by a Cloud platform. Read Full Story

Foodpanda log massive growth in 2015-16
New Delhi, Dec 9 : Online marketplace for food delivery Foodpanda earned a revenue of Rs 37.81 crore in the financial year 2015-16 -- a whopping 800 per cent increase -- as compared to 4.7 crore in the previous financial year, the company said on Friday, adding that it saw a 40-50 per cent spike in the order numbers during the demonetisation phase. Read Full Story

Demonetisation to cut GDP growth by 2 per cent in Q3: HSBC
New Delhi, Dec 9 : The demonetisation will cloud the GDP growth in the current and next quarter, pulling it down by as much as two percentage points, HSBC said on Friday. Read Full Story

Two hurt as drunk driver rams into ATM queue
Solapur (Maharashtra), Dec 9 : At least two persons were injured when a drunk driver rammed his car into an ATM queue in Solapur city in Maharashtra on Friday, an official said. Read Full Story

Gupshup, Google partnership to bring 'Actions' on Google Assistant
Mumbai, Dec 9 : Silicon Valley-based bot platform Gupshup on Friday partnered with Google to enable enterprises quickly build 'Actions' on artificial intelligence-powered Google Assitant. Read Full Story

A quake will come if I speak in Parliament: Rahul Gandhi
New Delhi, Dec 9 : Congress Vice President Rahul Gandhi on Friday accused the government of not allowing him to speak in Parliament despite his speech being ready, and said an "earthquake will come" if he gets the opportunity to speak. Read Full Story

Rajya Sabha adjourned till 2.30 p.m.
New Delhi, Dec 9 : The Rajya Sabha was on Friday adjourned till 2.30 p.m. amid chaos over the government reducing wheat import duty to zero per cent. Read Full Story

Cash crunch to dampen merry-making in Himachal's icy heights (Human Interest Feature)
Keylong (Himachal Pradesh), Dec 9 : Locals in this landlocked town and nearby villages in the picturesque Lahaul Valley, known worldwide for growing virus-free seed potatoes, are worried. Read Full Story

107 trains running late due to fog
New Delhi, Dec 9 : At least 107 trains were running behind schedule and four were cancelled due to dense fog in parts of north India on Friday morning, railway officials said here. Read Full Story

Look Sabha disrupted again
New Delhi, Dec 9 : The Lok Sabha was disrupted again on Friday over the issue of demonetisation. The house witnessed two adjournments even before noon. Read Full Story

Rajya Sabha adjourned till noon
New Delhi, Dec 9 : The Rajya Sabha was adjourned till noon on Friday as the Opposition criticised the government for reducing import duty on wheat to zero per cent. Read Full Story

Vijay Mallya's twitter account hacked
New Delhi, Dec 9 : The official twitter handler of controversial liquor baron Vijay Mallya appeared to be hacked on Friday morning. Read Full Story

Time for India, China to become manufacturing hub again: Akbar
New Delhi, Dec 9 : The time has come for India and China to regain the reputation of being a global manufacturing hub, Minister of State for External Affairs M.J. Akbar said on Friday. Read Full Story

Lok Sabha adjourned till 11.30 a.m.
New Delhi, Dec 9 : The Lok Sabha was adjourned till 11.30 a.m. minute after the house met on Friday, as opposition created ruckus once again. Read Full Story

Modi greets Sonia Gandhi on birthday
New Delhi, Dec 9 : Prime Minister Narendra Modi on Friday greeted Congress President Sonia Gandhi on her 70th birthday. Modi wished her a long life. Read Full Story

Key Indian equity indices trade higher during early session
Mumbai, Dec 9 : Key Indian equity market indices opened in the green on Friday following global cues. Read Full Story

70 percent think demonetisation can help curb corruption: Survey
New Delhi/Mumbai, Dec 9 : As many as 70 percent of respondents in a survey conducted last month agree that the Narendra Modi government's demonetisation initiative can help curb corruption in the long term, said multinational professional service Ernst and amp; Young (EY) on Thursday. Read Full Story

40% respondent never attended ABAC training, says report
Mumbai, Dec 8 : Ahead of the International Anti-Corruption Day, observed annually on December 9, a report released on Thursday showed that 40 percent of the respondents have never attended an anti-bribery and anti-corruption (ABAC) training done by their organisation. Read Full Story

Rs 43 lakh seized in MP, three held
Hoshangabad (Madhya Pradesh), Dec 8 : Three youth caught with Rs 43 lakh in new notes in this Madhya Pradesh district on Thursday were taken into custody and are being questioned, police said. Read Full Story

Andaman requests air sorties to evacuate tourists, send supplies
Port Blair, Dec 8 : With the deep depression over Southeast Bay of Bengal intensifying into a cyclonic storm, the Andaman and Nicobar administration on Thursday requested the Defence Ministry to provide air sorties to expedite the movement of tourists trapped in the islands and ensure essential supplies. Read Full Story

AAP accuses government of partnering blacklisted currency paper supplier
New Delhi, Dec 8 : The AAP on Thursday accused the Narendra Modi government of compromising national security by partnering with a currency paper supplier who was earlier blacklisted for working with a fake currency nexus. Union Finance Minister Arun Jaitley denied the allegations. Read Full Story

More than 5,500 complaints received against Air India
New Delhi, Dec 8 : a total of 5,879 passenger complaints have been received against Air India from January to October 2016, Parliament was told on Thursday. Read Full Story

Climate change will escalate migration in South Asia in coming year: Study
New Delhi, Dec 8 : Cautioning the South Asian countries, especially India to prepare themselves, a study said on Thursday that migration in south Asia will escalate uncontrollably due to climate change. Read Full Story

Bank official among three arrested for money laundering
Kolkata, Dec 8 : Three persons, including an Axis Bank official, were arrested by the Central Bureau of Investigation here on Thursday over their alleged involvement in money laundering after demonetisation, an agency official said. Read Full Story

Government's demonetisation drive biggest scam: Amit Mitra (Roundup)
New Delhi, Dec 8 : West Bengal Finance Minister Amit Mitra on Thursday called the demonetisation drive started by Prime Minister Narendra Modi-led National Democratic Alliance (NDA) government a "scam". Read Full Story

DGCA asks airlines to follow low visibility operations' guidelines
New Delhi, Dec 8 : Civil aviation regulator Directorate General of Civil Aviation (DGCA) on Thursday directed domestic passenger carriers to follow its guidelines on low visibility operations and not to plan flights to and from IGI airport during zero visibility periods. Read Full Story

Tata governance framework needs urgent repair: Cyrus Mistry
Mumbai, Dec 8 : Seeking support from shareholders of Tata Chemicals, ahead of December 23 extra-ordinary general meeting, Tata Sons ousted Chairman Cyrus P. Mistry on Thursday said the group's governance framework needs urgent repair. Read Full Story

Demonetisation a well considered step, says Manoj Tiwari
New Delhi, Dec 8 : Delhi BJP leader Manoj Tiwari on Thursday said the decision of demonetisation is a well considered step of the central government and its objective is to create a clean economic system by ending black money. Read Full Story

Government has failed to give black money recovery amount: Asim Dasgupta
Kolkata, Dec 8 : Lambasting the Narendra Modi government's demonetisation move and sops announced by Union Finance Minister Arun Jaitley to incentivise digital payments, noted economist Asim ADasgupta on Thursday said the central government has not been able to declare how much black money was recovered during the past month after the banning high value currency notes. Read Full Story

30 days since note ban: Cash crunch plays leveller (Roundup)
New Delhi, Dec 8 : Demonetisation turned one-month-old on Thursday, but the hassles being faced by the public are far from over with the victims being not just the common man but also those representing him in Parliament. Read Full Story

Post 50-day deadline, 'cashless' focus must stay: BJP
Panaji, Dec 8 : Even after the 50-day deadline of Prime Minister Narendra Modi to end post-demonetisation hardships, the BJP would not like to revert to the pre-November 8 times of 'cash transactions', said a party spokesperson on Thursday. Read Full Story

'Lifeline Express' gets two more coaches for detection of oral cancer
New Delhi, Dec 8 : The Indian Railways on Thursday added two more coaches to the 'Lifeline Express' for the detection and control of oral, breast and cervical cancer, officials said. Read Full Story

Passenger cars sales inched up in November: SIAM
New Delhi, Dec 8 : Sales of passenger cars rose 0.29 per cent in November to 173,606 units from 173,111 units in the corresponding month last year, industry data showed on Thursday. Read Full Story

Government announces sops to promote digital payments
New Delhi, Dec 8 : Admitting that there are visible and hidden costs in reducing cash volume in the economy, the government on Thursday announced a series of eleven measures designed to increase the pace of digital payments to usher in a cashless economy. Read Full Story

Man held in Axis Bank money laundering case sent to 7 days ED custody
New Delhi, Dec 8 : A court here on Thursday sent Rajeev Singh Kushwaha who was arrested in the case of alleged irregularities in conversion of demonetised notes, to Enforcement Directorate's (ED) custody till December 15. Read Full Story

India responds to Mongolia's call for help
New Delhi, Dec 8 : With Mongolia seeking India's help after China hiked transit tariffs on Mongolian trucks, New Delhi on Thursday said that the landlocked country can use an Indian credit line already on offer to get over its crisis. Read Full Story

Pandemonium continues in Parliament over demonetisation (Intro Roundup)
New Delhi, Dec 8 : Pandemonium continued for the 16th consecutive day in Parliament on Thursday as the government failed to find common ground with the opposition that is protesting in both Houses. However, the Lok Sabha passed the Supplementary Demands for Grants amid the din before adjourning for the day. Read Full Story

Modi government acting like salesman: Mamata
Kolkata, Dec 8 : Taking a dig at Union Finance Minister Arun Jaitley's bunch of announcements designed to promote digital payments, West Bengal Chief Minister Mamata Banerjee on Thursday said the central government was acting like a "salesman" in a desperate bid to divert from the main issue. Read Full Story

'Eco Rent a Car' appoints Gautam Nath as new CEO
New Delhi [India], Dec 8 : India's leading ground transportation service provider Eco Rent a Car has announced the appointment of its new CEO Gautam Nath. Read Full Story

India closely working with Mongolia to implement US$ 1 billion credit line: MEA
New Delhi [India], Dec. 8 (ANI): India is closely working with the Mongolian government to implement the US$ 1 billion credit line announced during the visit of Prime Minister Narendra Modi to Mongolia in May 2015 in a manner that is deemed beneficial to the friendly people of Mongolia by its leadership, said the Ministry of External Affairs (MEA) on Thursday. Read Full Story

Paytm introduces 'App Password' feature to secure Paytm Wallet
New Delhi [India], Dec 8 (ANI): Paytm on Thursday announced the launch of its new 'App Password' feature on its Android mobile app that will enable Paytm users to set a secure pin, password, pattern or fingerprint as a means to ensure money stored in the Paytm wallet remains safe even if the owner's phone is lost or misplaced. Read Full Story

Digital payments get a boost; cheaper fuel, train tickets on digital transaction: Arun Jaitley
New Delhi [India], Dec 8 (ANI): One month after Prime Minister Narendra Modi announced demonetisation of high-value currency notes of 500 and 1,000 which accounted for 86 percent of the cash in circulation, Finance Minister Arun Jaitley on Thursday announced various discounts on digital payments for fuel and train tickets. Read Full Story

Revv raises USD 9 million in Series A equity and debt
New Delhi [India], Dec 8 : Delhi-NCR based shared mobility solutions platform Revv has announced USD 9 million of funds raised, across equity and debt. Series A equity funding was led by Edelweiss Private Equity, and debt funding from financing partners such as Mahindra and Mahindra Financial Services and car leasing partner LeasePlan India. Read Full Story

Venture Catalysts Angels fuel a revolution in the way with a USD 250K seed investment into GoMechanic
New Delhi [India], Dec 8 : Adding yet another promising start-up to its impressive portfolio of tech-based ventures, Venture Catalysts, India's leading and fastest growing seed investment and innovation platform, has facilitated seed investment worth USD 250k into GoMechanic. Read Full Story

OPPLE lighting announces monthly winners for 'Become a Millionaire' offer
New Delhi [India], Dec 8 : Opple, a global integrated lighting solutions company and one of World's Leading LED Lighting brand announced their monthly winners for 'Become a Millionaire' Offer for its customers. The offer encompasses a special initiative launched by the brand that extends full amount of benefits to the customers. Read Full Story

RedGirraffe launches 'RentPay': Now pay rent via credit cards
New Delhi [India], Dec. 8 : RedGirraffe.com, a Fintech and Real Estate technology company, recently announced the launch of 'RentPay', a product which enables cashless rental transactions between landlords and tenants through credit cards. Read Full Story

Three, including bank official, arrested for money laundering
Kolkata, Dec 8 : Three persons, including an Axis Bank official, were arrested by the Central Bureau of Investigation here on Thursday over their alleged involvement in money laundering after demonetisation, an agency official said. Read Full Story

National Rail Plan 2030 website launched
New Delhi, Dec 8 : Railway Minister Suresh Prabhu on Thursday launched Indian Railways website for National Rail Plan (NRP), 2030. Read Full Story

Indian economy will take Rs 4.7 lakh cr hit on demonetisation: Amit Mitra
New Delhi, Dec 8 : Calling demonetisation "a big magnum-sized tsunami", West Bengal Finance Minister Amit Mitra on Thursday said India's gross domestic product (GDP) in the current fiscal (2016-17) will take a huge hit on account of demonestisation. Read Full Story

Diplomats may be allowed to withdraw money on priority
New Delhi, Dec 8 : With foreign missions here expressing difficulties in running their day-to-day affairs due to the government's demonetisation move, the Finance Ministry has been asked to direct banks to allow diplomats to withdraw money on a priority basis, a senior official said on Thursday. Read Full Story

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