Former Bihar CM praises Greenpeace’s micro solar project

Environmental campaign agency Greenpeace said Nitish Kumar, former chief minister of Bihar, has praised its micro-grid solar project in Jehanabad district. “Elated to see homes, shops and streets lit up at night, Kumar praised Greenpeace and the unique energy model, upholding it as a crucial step towards rural electrification of Bihar,” the agency said in […]

Builder Emaar MGF penalised for delay, deceptive practice

Real Estate builder Emaar MGF has been penalized by the National Consumer Disputes Redressal Commission for “deceptive practice” for “mischievously and cleverly” not giving a fixed delivery date before taking 11 lakhs from the customer for plot in Mohali. The Commission found that Emaar MGF had induced its customer to pay more than Rs 11 […]

Standard Chartered Bank fined for levying “minimum balance” charges

Standard Chartered Bank has been told to pay two of its customers in India Rs 34,293.24 for levying ‘minimum balance’ charges on them without sufficient intimation. The bank had charged Rs.750, Rs.830 and Rs.830 to the accounts of Surinder Pal Arora and Nirmal Arora of Kirti Nagar, New Delhi, for failing to maintain Rs 10,000 […]

Govt blocks two channels for defamatory content

The ministry of information and broadcasting has imposed a one-day ban on transmission of two Assamese news channels, DY 365 TV and News Time Assam, for carrying a story alleging wrong relationship between an MLA and two young girls, including a minor. In the order, the ministry of information and broadcasting narrated the examination of […]

RBI guidelines on long-term infra bonds positive for banks – Moody’s

Rating agency Moody’s said the Reserve Bank of India’s new guidelines on exempting long-term from reserve requirements will allow banks to compete more effectively in the infrastructure loan market. “The new regulations are also likely to foster an improvement of banks’ competitive positioning vis-à-vis housing finance companies and infrastructure finance companies, because the banks’ lower […]

Global distributor Brightstar acquires majority in Bharti’s Beetel Tele

Global corporation Brightstar has acquired a majority interest in Beetel Teletech Ltd, part of the Bharti group. The aim is to bring latest mobile technologies and services to the Indian market, the companies said. Beetel is a maker of land phones and other telecom equipment, and offers communication services. “As the largest specialized wireless distributor […]

Medha Patkar, NAPM opposes diluting Land Acquisition Act

The National Alliance of People’s Movements has opposed any move by the government to dilute the strict provisions of the Land Acquisition, Resettlement and Rehabilitation Act of 2013. The Act, which was championed by Jairam Ramesh during his tenure as the environment minister, puts tough conditions on the forcible acquisition of citizens’ land by the […]

Fund manager explains how India’s onion cartel works

Sandip Sabharwal, a Mumbai-based fund manager and investment expert, has explained how unscrupulous hoarders and traders in India jack up the prices of onions. In a post on his Facebook page, Sabharwal described the exact methodology of how India’s onion cartel, that pushes up onion prices to as much as Rs 100 per KG, operates. […]

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