Contributions by corporate towards Swach Bharat Kosh and Clean Ganga Fund will be considered as social welfare spending

Contributions made by corporate towards Swach Bharat Kosh and Clean Ganga Fund will be considered as social welfare spending under the new Companies Law. Swach Bharat Kosh and Clean Ganga Fund are among the key initiatives unveiled by the Narendra Modi-led government as part of its efforts to ensure...

Nepal set to become founding member of proposed AIIB

Rupee strengthens to Rs 61.17 against dollar in early trade

Maintaining its rising trend for the fourth straight day, the rupee strengthened by another 14 paise to 61 rupees 17 paise against the dollar in early trade today. The rise was attributed to sustained foreign capital inflows amid government announcing key reforms in the oil and gas sector. The domes...

NSEL scam: Two top honchos of defaulting firms arrested

Mumbai Police on Tuesday arrested two top honchos of different defaulting companies, which collectively owe over Rs 1,000 crore to the crisis-hit NSEL. Additional Police Commissioner (EOW) of Mumbai Police, Rajvardhan Singh informed Gagan Suri, one of the directors of Yathuri Associates, was apprehe...

RBI puts onus of forming JLF on lead bank; warns of penalty

The Reserve Bank of India (RBI) put the onus of forming a Joint Lenders' Forum (JLF) on the bank with highest exposure to a distressed borrower and said on Tuesday that failure to do so would attract higher provisioning penalties for that bank alone.The RBI in a notification issued in Mumba...

TRAI seeks more information on availability of 3G spectrum

Telecom Regulatory Authority of India (TRAI) has sought more information on the availability of 3G spectrum while proposing that vacant 3G slots be put up for upcoming auction along with the spectrum in 900 Megahertz (MHz) and 1,800 MHz bands. In a letter to the Department, the regulator said, it wi...

Govt orders merger of NSEL with its holding company FTIL

To ensure speedy recovery of dues for investors and others hit by 5,600-crore rupees fraud at the National Spot Exchange Ltd, the government today ordered merger of the scam-hit firm with its holding company Financial Technologies India Ltd, FTIL.The decision, which comes over a year after the payme...

Foreign employees to get PF money in their own countries<br/>

Retirement fund body Employees&apos; Provident Fund Organisation has started a new facility to transfer provident funds of foreign employees to bank accounts in their own countries. The facility will help international workers to avoid opening of bank accounts in India for settling their PF clai...

Govt orders merger of NSEL with its holding company FTIL

To ensure speedy recovery of dues for investors and others hit by 5,600-crore rupees fraud at the National Spot Exchange Ltd, the government today ordered merger of the scam-hit firm with its holding company Financial Technologies India Ltd, FTIL.The decision, which comes over a year after the payme...

CBI files revised closure report in a coal block allocation case in a Delhi court today

The CBI today filed a revised final closure report before a special court in a coal block allocation scam case involving Kumar Mangalam Birla, former Coal secretary P C Parakh and others. The agency filed the report before Special CBI Judge Bharat Parashar and said that it contains a detailed report...