Mahindra Defence, part of the Mahindra Group, has been selected as the local partner for Japanese aircraft maker ShinMaywa’s manufacturing and related operations for its US-2 seaplane in India. The amphibious aircraft can be used for both civilian and military purposes and the Indian Navy is expected to be among the customers for the same […]
AU Small Finance Bank, which was formed a little over two years ago, said it has started offering interest of 6.5% for its savings account holders with balance above Rs 1 lakh. This makes the bank the only one to offer such a high interest rate on its savings account. The bank was earlier giving […]
Japan’s Suzuki Motor Corp said it has started exporting vehicles from its recently established 100% Indian unit Suzuki Motor Gujarat Pvt Ltd. The first model to be shipped was the new Swift, destined for the South African market, the company said. “This is the first time an SMG model is being exported,” the company said. […]
Vedanta, one of the world’s largest metal producers, said its application for renewal of consent for operating its smelter plant in Thoothukudi in Tamil Nadu has been rejected. The company had shut down the copper smelting plant on March 27 “as part of a regular maintenance program,” it said. “..the Company had applied for renewal […]
The ongoing allegations around the sanction of a loan by ICICI Bank to the Videocon Group and the bank’s reluctance to support an independent probe into the matter has created doubts about the bank’s internal governance standards, global ratings agency Fitch said. “..the presence of the bank’s CEO on this credit committee – and the […]
The Supreme Court today asked the government why it was dragging its heels on the implementation of the court’s order on the sharing of the Cauvery river water. The court asked the center to file a draft sharing plan by May 3. The court’s sharp comments come in the context of it missing the March […]
Anil Ambani Group’s construction and infrastructure arm Reliance Infrastructure said it received an order of Rs 1,081 crore for the construction of a “Common Services System, Structure & Components (SSC) package” and allied civil works for the upcoming Unit 3 and 4 of Kudankulam Nuclear Power Project at Tirunelveli District in Tamil Nadu. SSC’s are […]
Bank of Baroda, India’s second biggest bank by assets, raised its lending interest rate by 10 basis points across all tenures up to one year. With this, the one-year marginal cost of funds based lending rates or MCLR has been raised to 8.4% from 8.3% with effect from tomorrow, Apr 7. The six-month rate has […]
India has a total registered demand of 175 satellite transponders for DTH services, but only 111 transponders are currently available, Rajyavardhan Rathore, junior minister for information and broadcasting said, adding that efforst are on to rectify the situation. Satellite transponders refer to the terminals on satellites that emit TV signals that are captured by dish […]
Bollywood’s second biggest star Salman Khan has been handed a prison term of five years by the court of Chief Judicial Magistrate of Jodhpur in the black buck killing case after a 20-year trial. The sentence implies that Salman Khan is most likely to spend at least one day in jail, before he applies for […]
Construction major Larsen & Toubro said its Hydrocarbon Engineering unit, along with its partner, won an order to supply three Gas Production Deck Modules from Saudi Aramco, one of the world’s largest oil companies. “This is the fourth award for the consortium of L&T Hydrocarbon Engineering (LTHE) with Subsea 7,” the Indian company said. The […]
Salman Khan has been convicted of killing a black buck, a protected animal, while out on a ‘hunt’ 20 years ago during the shooting of “Hum Saath Saath Hain”. UPDATE: Media has reported that the actor has been given 2 years of imprisonment, but there’s no confirmation yet. UPDATE 2: The final quantum of punishment […]
The Central Bureau of Investigation has closed its investigation into complaints of financial irregularities at the Delhi & District Cricket Association, the Lok Sabha was informed today. “A preliminary enquiry was registered in SC-II branch (of the CBI) on 23.10.2015 against unknown office bearers of Delhi & District Cricket Association (DDCA) and unknown others, on […]
Construction company Capacit’e Infraprojects said it won two orders from Mumbai-based Oberoi Realty Group for a total of Rs 365 cr. The first is for the construction of a residential “rehab and sale tower” at Tardeo in South Mumbai. The order was obtained from group entity Shri Siddhi Avenues LLP and is worth Rs 145.50 […]
Royal Enfield, which makes the iconic ‘Bullet’ retro motorbikes in India, said it will invest Rs 800 cr this financial year to create the second phase of its factory at its Vallam Vadagal site near Chennai. The company, whose products cost upwards of Rs 1.15 lakh, has seen sales of its motorbikes rise rapidly in […]
WhatsApp, the biggest interpersonal text-messaging platform in India, has started rolling out its ‘verified accounts’ feature with IndusInd Bank as one of its first customers. For now, verified accounts are limited to businesses, and will be used to assure customers that they are communicating with the official, and authorized, phone number of a business or […]
The core sector growth in India’s Index of Industrial Production was at 5.3% for February 2018, the government said today. In January, the growth was 6.1%. The highest growth was seen in refinery output (7.8%) and cement (22.9%), while crude oil and natural gas production went down. With this, the overall growth for the IIP […]
Hero MotoCorp said it sold 7.3 lakh motorcycles in March 2017, marking the highest number of monthly sales in its history. The strong performance also helped Hero MotoCorp make another record for the highest ever number of motorcycles sold in a year. The company sold 7.59 million (76 lakh) motorcycles and scooters in a financial […]
Chief Justice of India Deepak Misra refused to hear a petition filed by a Dalit activists’ organization seeking urgent relief from the a recent judgment by another bench that imposed restrictions on the powers of the police in cases filed under the SC ST Prevention of Atrocities Act. “If you have filed a petition, it […]
Finance Minister Arun Jaitley is unlikely to withdraw the defamation case filed against Aam Aadmi Party Supremo Arvind Kejriwal, according to sources. Instead, the legal team of Arun Jaitley, himself a lawyer, will mention the matter before the Chief Justice of the Delhi High Court today. Jaitley wants a legal settlement in which the allegations […]
