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Indian Railways to resume food on tracks from February 1: Know how to order a meal

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The catering arm of the Indian Railways — Indian Railway Catering and Tourism Corporation (IRCTC) — will resume its e-catering services at 62 stations in the first phase.

Starting February 1, passengers travelling by trains on select routes will be able to enjoy hot and tasty food.

The catering arm of the Indian Railways — Indian Railway Catering and Tourism Corporation (IRCTC) — will resume its e-catering services at 62 stations in the first phase.

New Delhi, Howrah, Patna, Vijayawada and Ernakulam among others are those stations that have been chosen for the first phase of resuming the service.

The IRCTC had temporarily suspended this service last year on March 22, due to COVID-19 guidelines and the subsequent lockdown.

In a tweet, the Ministry of Railways stated that the service will be resumed by following all safety guidelines, and passengers will be able to order tasty food again.

Here’s how you can order food:

  • While travelling, passengers can order food through an e-catering mobile app called ‘Food on Track’. The IRCTC has started this app to provide quality cuisine to travellers. The app is available on Google Play for Android smartphone users and on the App Store for Apple users.
  • Passengers can also avail the e-catering services by logging into https://www.ecatering.irctc.co.in/.
  • On the site, they need to enter their PNR.
  • Once they do that, a list of stations will appear in the drop-down menu.
  • After selecting the station where the order is to be delivered, a menu will open with the prices, from where passengers will have to choose the vendor and select the food items to be booked.
  • Passengers can take a pick from a range of options available on the revamped menu. There are options for north and south Indian cuisines, pizzas, among others. The IRCTC has also partnered with Domino’s, Zoop, Yatri, etc for the e-catering service.
  • On placing the order, passengers have to choose the payment method — online or cash-on-delivery.
  • E-catering orders through the phone will be restored soon.

IRCTC had started the e-catering service in 2014, where passengers could order food of their choice from reputed brands through phone or online while travelling on trains.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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DLF’s rental arm appoints consultants to prepare itself for REIT launch

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Realty major DLF’s rental arm DCCDL on Friday said it has appointed consultants, including banker, tax advisor and law firm, to prepare itself for the launch of its Real Estate Investment Trust (REIT) but the timing of the public issue will be decided by its shareholders. DLF Cyber City Developers Ltd (DCCDL) is a joint venture between DLF Ltd and Singapore sovereign wealth firm GIC. While DLF holds 66.67 per cent stake in the JV, the GIC has 33.33 per cent shareholding.

Realty major DLF’s rental arm DCCDL on Friday said it has appointed consultants, including banker, tax advisor and law firm, to prepare itself for the launch of its Real Estate Investment Trust (REIT) but the timing of the public issue will be decided by its shareholders. DLF Cyber City Developers Ltd (DCCDL) is a joint venture between DLF Ltd and Singapore sovereign wealth firm GIC. While DLF holds 66.67 percent stake in the JV, the GIC has 33.33 percent shareholding.

”The timing of launch of REIT will be decided by the two shareholders — DLF and GIC. The management has taken a decision to be REIT-ready. We have hired banker, legal firm and tax consultant to prepare ourselves for the REIT,” DLF’s MD (Rental Business) Sriram Khattar told analysts in an investors call. The timing of launch of REIT will depend on many factors including the interest rate and cap rates, he said.

DLF’s whole-time director Ashok Tyagi said the consultants have been appointed to restructure the business and be ready to launch the REIT whenever the two shareholders decide. In an investors presentation, DLF listed out that there are favourable market indicators for REIT listing such as enough liquidity in capital markets, low-interest rate regime, efficient listing framework by the regulator and successful listing of two REITs. DCCDL has appointed Shardul Amarchand Mangaldas & Co as legal advisor, Morgan Stanley as banker and KPMG as financial/tax advisor.

”Deliberations being done on key points: corporate structure, capital structure and asset perimeters. Completion expected in around 12 months,” the presentation said. The DCCDL has rent-yielding commercial assets of around 35 million sq ft, with about Rs 3,500 crore annual rental income. DLF had formed a joint venture with GIC in December 2017 after its promoters sold their entire 40 percent stake in the DCCDL for nearly Rs 12,000 crore. This deal included sale of 33.34 percent stake in DCCDL to GIC for about Rs 9,000 crore and buyback of remaining shares worth about Rs 3,000 crore by the DCCDL. In India, there are two listed REITs — Embassy Office Parks REIT and Mindspace Business Parks REIT.

The first REIT of Rs 4,750 crore issue size was listed in April 2019 by Embassy group and Blackstone backed Embassy Office Parks. In August last year, K Raheja and Blackstone backed Mindspace Business Parks launched the country’s second REIT to raise Rs 4,500 crore. Global investment firm Brookfield is launching next week the country’s third REIT to raise Rs 3,800 crore.

Also Read: Embassy REIT raises Rs 2,600 cr via debentures to refinance existing debt

Real estate investment trust (REIT), a popular instrument globally, was introduced in India a few years ago aimed at attracting investment in the real estate sector by monetising rent-yielding assets. It helps unlock the massive value of real estate assets and enable retail participation.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

PNB scam case: Court denies bail to retired bank official

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

A special court here on Saturday denied bail to retired bank official Gokulnath Shetty, a key conspirator and prime accused in the Punjab National Bank (PNB) scam case. Shetty was arrested in March 2018 for allegedly playing a key role in the Rs 13,700crore loan fraud while working as a deputy manager at PNB’s Brady House branch in Mumbai.

A special court here on Saturday denied bail to retired bank official Gokulnath Shetty, a key conspirator and prime accused in the Punjab National Bank (PNB) scam case. Shetty was arrested in March 2018 for allegedly playing a key role in the Rs 13,700-crore loan fraud while working as a deputy manager at PNB’s Brady House branch in Mumbai.

Special judge for cases under the Prevention of Money Laundering Act (PMLA) V C Barde rejected Shetty’s bail plea. The scam came to light when jewellery firms of prime accused Nirav Modi and Mehul Choksi approached the Brady Road branch of the PNB in January 2018, seeking Letters of Understanding (LoU) for payment to suppliers.

The bank realised that LoUs were being issued to these firms fraudulently for seven years by bypassing its core banking system, and Shetty was allegedly instrumental in this. An LoU is a guarantee given by the issuing bank to overseas branches of Indian banks to grant short-term credit to an applicant, and in case of loan default, the bank issuing the LoU has to honour the liability.

Efforts are on to bring back Modi and Choksi to India from abroad to face trial in the case, which is being probed by the Enforcement directorate and CBI.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Farmer leaders observe fast; Stir regains momentum as Tikait succeeds in mobilising support from western UP

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

More farmers gathered at Ghazipur, on the Delhi-Meerut highway, that has now become the new focal point of the stir, while union leaders claimed that protesters were also heading back to Singhu and Tikri borders from Punjab and Haryana, days after the crowds had waned following the violence at the tractor rally on January 26.

Agitating farmer leaders held a day-long fast at various protest sites on Delhi’s borders on Mahatma Gandhi’s death anniversary on Saturday as the stir against the agri laws appeared to regain momentum after rallying support from the agricultural community of the crucial western Uttar Pradesh region. More farmers gathered at Ghazipur, on the Delhi-Meerut highway, that has now become the new focal point of the stir, while union leaders claimed that protesters were also heading back to Singhu and Tikri borders from Punjab and Haryana, days after the crowds had waned following the violence at the tractor rally on January 26.

The administration remained on high alert with Internet services temporarily suspended at the Singhu, Ghazipur, and Tikri borders of the national capital, as well as the adjoining areas. Haryana has already suspended the internet in 14 districts. Security personnel, including from anti-riot police and paramilitary forces, were deployed in strength. Multiple layers of barricades including concrete blocks were being put at the protest sites. Wearing garlands, the farmer leaders, who had called for observing ’Sadbhavana Diwas’ (Harmony Day) on Saturday after the immense outrage over violence by protesters during their Republic Day tractor rally, sat on the dais during the fast, as crowds of supporters swelled, especially in Gazipur where the Bharatiya Kisan Union is leading the protest.

Addressing the protesters in Gazipur, BKU leader Rakesh Tikait, whose emotional appeal had galvanised farmers from Uttar Pradesh and Uttarakhand to flock to the protest site, said they have fought this battle for over two months now, and ”they won’t relent or retreat”. ”The movement was and is strong,” BKU’s Meerut Zone president Pawan Khatana said, a day after tens of thousands of farmers from politically sensitive western Uttar Pradesh had gathered in Muzaffarnagar to participate in a mahapanchayat in a massive outpouring of support for the Bharatiya Kisan Union-led protest.

Till now, the agitation was seen as mainly being led by Punjab-based farmer unions. A multitude of green-and-white caps, symbolic of the unions spearheading the battle, union flags and the tricolour, planted on tractors, dotted the highway On various tractors and camps, photos of legendary farmer leaders such as Chaudhary Charan Singh and Mahendra Singh Tikait have been put up.

Khatana, who is at the demonstration site with Tikait, said there has been continuous support for the ”peaceful protest” against the farmers’ demand for removal of the new agri laws. ”This is not a political protest. Anybody who shares the ideology of the BKU and Rakesh Tikait is welcome here. But it is our appeal to those who do not wish to support the movement till the end that please do not come only to leave in between,” he said.

Also Read: Govt offer on farm laws still stands; phone call away for talks: Modi in all-party meeting

Several opposition parties including the Congress, TMC AAP, RLD and the Left have openly supported the stir. Abhimanyu Kohar, a senior member of Samkyukt Kisan Morcha which is an umbrella body of farmer unions, said the ongoing agitation will gain strength as farmers in large numbers will join them in the coming days.

Farmer leader Balbir Singh Rajewal said in Chandigarh that he expects a record gathering by February 2 at the border points of Delhi. ”People in large numbers from Punjab, Haryana, Uttar Pradesh, Rajasthan and Uttarakhand are reaching the protest sites,” Rajewal claimed.

The president of the Bharatiya Kisan Union (Rajewal) also condemned the violence in Delhi on the Republic Day and said it was unfortunate. ”Possibly by February 2, there will again be a record gathering of people at the protest sites,” he said, adding that the agitation would remain peaceful.

Rajewal also criticised the Haryana government for suspending internet services. He accused the Centre of instilling a sense of fear among people by showing pictures of the ”unfortunate incidents”, apparently referring to the January 26 violence in the national capital.

Rajewal appealed to those joining the agitation at Delhi’s borders to keep the protest peaceful. ”It is our responsibility to keep the agitation peaceful,” he stressed.

The farmer leader appealed to the Centre to shun its ”stubborn attitude” and withdraw the three farm laws. Asked about the next meeting between the protesting farmers and the government, he said, ”When they call us, we will certainly go”.

To a question on joining the investigation following notices issued by the Delhi Police to farmer leaders in connection with the Republic Day violence, Rajewal said, ”We will send them a reply.” The Delhi Police has issued the notices to around 20 farmer leaders, including Rajewal, over the violence during the farmers’ tractor parade, asking why legal action should not be taken against them. A team of forensic experts on Saturday visited the Red Fort, where the protesters had indulged in vandalism, hoisted a religious flag and attacked the police personnel, to collect evidence.

Heavy security deployment, including personnel of the Provincial Armed Constabulary (PAC), Rapid Action Force (RAF) in anti-riot gears and civil police, continued at the protest site. Police had on Friday used tear gas and baton charge to break up a clash between farmers and a large group of men who claimed to be local residents at the Singhu border.

The Delhi Traffic Police said movement on the National Highway 24 (Delhi-Meerut Expressway) has been stopped. Apart from the three borders of Delhi, internet services will remain suspended in their adjoining areas too effective from 11 pm of January 29 to 11 pm of January 31, a Union Home Ministry official said. The decision has been taken to ”maintain public safety and averting public emergency” under Temporary Suspension of Telecom Services (Public Emergency or Public Safety) Rules 2017, the official said.

Thousands of farmers have been protesting at Delhi’s borders with Haryana and Uttar Pradesh, demanding a rollback of the Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Act, 2020, the Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Act, 2020 and the Essential Commodities (Amendment) Act, 2020. The protesting farmers have expressed apprehension that these laws would pave the way for the dismantling of the minimum support price (MSP) system, leaving them at the ”mercy” of big corporations.

However, the government has maintained that the new laws will bring better opportunities to farmers and introduce new technologies in agriculture.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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EESL to install 23.4 lakh smart prepaid electricity meters in Bihar

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Stateowned Energy Efficiency Services Ltd (EESL) has entered into agreements with two Bihar utilities for installation of 23.4 lakh smart prepaid meters in Bihar. This is the first time that smart prepaid meters are being installed at this scale, and are set to have a transformative impact on the state’s energy landscape, EESL said in a statement. “EESL…signed agreements with South Bihar Power Distribution Company Ltd (SBPDCL) and North Bihar Power Distribution Company Ltd (NBPDCL) for the installation of 2.34 million smart prepaid meters in Bihar, under its Smart Meter National Programme,” it said. The agreements were signed in the presence of Bihar Energy Minister Bijendra Prasad Yadav.

State-owned Energy Efficiency Services Ltd (EESL) has entered into agreements with two Bihar utilities for installation of 23.4 lakh smart prepaid meters in Bihar. This is the first time that smart prepaid meters are being installed at this scale, and are set to have a transformative impact on the state’s energy landscape, EESL said in a statement. ”EESL…signed agreements with South Bihar Power Distribution Company Ltd (SBPDCL) and North Bihar Power Distribution Company Ltd (NBPDCL) for the installation of 2.34 million smart prepaid meters in Bihar, under its Smart Meter National Programme,” it said. The agreements were signed in the presence of Bihar Energy Minister Bijendra Prasad Yadav.

The power sector is facing high aggregate technical and commercial losses and implementation of smart prepaid meters can play a crucial role in addressing these challenges in Bihar. I am confident that these meters will be a boon for the state’s energy landscape and will help DISCOMs in shoring up their finances, Yadav said. The smart prepaid meters will optimise the DISCOM operational performance by increasing the billing and collection efficiency, reduce the operation and maintenance cost, and enhance the quality of service, along with providing the consumers with demand side management (DSM) options, the statement said.

”We have made significant progress in this journey in the state of Bihar, which has become the first state in the country to witness smart prepaid meter installation at this scale. Now, with the commercial launch of the smart prepaid system for Bihar utilities, we’re certain that this will help bring a transformation in the entire power sector, Saurabh Kumar, Executive Vice Chairperson, EESL, said. The smart prepaid meters are connected through a web-based monitoring system, which will help reduce commercial losses of utilities, enhance revenues and serve as an important tool in power sector reforms. EESL’s smart metering initiative is revamping the current manual system of revenue collection, which suffers from low billing and poor collection efficiencies.

The implementation of these meters will also enable considerable energy and monetary savings for consumers, who will have an avenue to track their power usage in real-time. The prepaid functionality of the smart meters is also an added advantage, as it provides distribution companies (DISCOMs) with an option to switch to prepaid mode, wherein the consumers pay upfront for the electricity. The utility of this feature was quite apparent during the lockdown, as DISCOMs in Bihar were able to generate a daily revenue of Rs 5,00,000, with consumers on an average recharging their prepaid smart meters with a credit balance of Rs 20 daily.

The immediate generation of working capital for DISCOMs is also highly advantageous, as the revenue is generated at the point of sale, which otherwise takes a couple of months. Some other key benefits of smart prepaid metering include, a marked reduction in peak power purchase cost, the ability to conduct power quality analysis in near-real time such as power factor, maximum demand, and a sharp reduction in carbon footprint. The Smart Meter National Programme aims to replace 25 crore conventional meters with smart meters in India.

Under this programme, EESL and Intellismart have installed over 16 lakh smart meters in the country. A joint venture of NTPC, Power Finance Corporation, REC and Power Grid Corporation of India, EESL was set up under the Ministry of Power to facilitate implementation of energy efficiency projects.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Should Elon Musk be able to buy Twitter?

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Govt offer on farm laws still stands; phone call away for talks: Modi in all-party meeting

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The all-party meeting is convened for the government to put forth its legislative agenda before political parties. Leaders from various parties flag issues they wish to raise during the meeting.

Prime Minister Narendra Modi on Saturday told floor leaders of various political parties that his government’s offer on agri laws made to protesting farmers ”still stands” and it was a ”phone call away” for talks, days after violence broke out in parts of the national capital on Republic Day. Addressing these leaders at the customary all-party meeting convened by the government for the smooth conduct of the Budget Session, the prime minister, responding to the references by opposition leaders about the ”unfortunate incident” on Republic Day, said that the ”law will take its own course”.

Sharing the details of the meeting chaired by Modi and attended by Defence Minister Rajnath Singh, Parliamentary Affairs Minister Pralhad Joshi said, ”The prime minister assured that the Centre is approaching the farmers issue with an open mind.” ”The prime minister said the Centre’s stand is same as it was on January 22, the last meeting between the protesting farmers and the Centre and proposal given by Agriculture Minister on the farm laws still stands. Modiji reiterated what Tomarji had said – that he (Narendra Singh Tomar) is phone call away for talks,” Joshi said quoting Modi. Emphasising on the need for smooth functioning of Parliament, Modi said smaller parties suffer the most due to disruptions as they do not get chance to raise their issues.

”It is for the bigger parties to ensure Parliament functions smoothly, there are no disruptions and thus, the smaller parties are able to voice their views in Parliament,” Joshi said citing Modi’s remarks. The all-party meeting is convened for the government to put forth its legislative agenda before political parties. Leaders from various parties flag issues they wish to raise during the meeting.

The prime minister also condemned the vandalism of Mahatma Gandhi’s statue in California in the US, the parliamentary affairs minister said. At Friday’s meeting, various leaders including Ghulam Nabi Azad of Congress, Sudip Bandyopadhyay of Trinamool Congress, Balwinder Singh Bhunder of Shiromani Akali Dal and Vinayak Raut of Shiv Sena raised the issue of protesting farmers, sources said.

All major opposition parties sought discussions on farmers’ issues during the meeting. While almost all opposition parties condemned the violence and vandalism at Red fort by a group of protesting farmers on Republic Day, they asserted that other farmers protesting peacefully should not be held responsible for it. Meanwhile, the BJD demanded the passage of women’s reservation bill during the budget session which was supported by the YSR Congress and the TRS.

TMC’s Bandyopadhyay said boycott of President’s address by 20 opposition parties was a strong message for the government to withdraw the farm laws, the sources said.

Click here for the complete coverage of Budget 2021. 

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Rama Mohan Rao Amara appointed MD & CEO of SBI Card for 2 years

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Rama Mohan Rao Amara, a veteran banker, succeeds Ashwini Kumar Tewari, SBI Card said in a release.

Rama Mohan Rao Amara has taken charge as the new managing director and chief executive officer of SBI Cards and Payment Services (SBI Card). Amara’s appointment has come into effect from today (January 30). He has been appointed for two years, subject to all requisite approvals, including those of shareholders.

Amara, a veteran banker, succeeds Ashwini Kumar Tewari, SBI Card said in a release. With a career spanning over 29 years at State Bank of India (SBI), Amara was the chief general manager of SBI Bhopal Circle before taking charge at SBI Card. While he was in Bhopal circle, he handled Madhya Pradesh and Chhattisgarh.

Also read: How to generate SBI ‘Green PIN’? Here’s a step-by-step guide

Tewari welcomed Amara as the MD & CEO of SBI Card and said his vision and strategic approach would facilitate the rapidly growing credit card business of SBI. He added that the company was confident that Amara would be able to further strengthen SBI Card’s position.

Amara said it was an exciting time to join SBI Card, with the economy gradually coming out of the grip of the COVID-19 pandemic.

“With a renewed focus towards cashless and digital payments, the country is firmly on the path to becoming a digital economy,” he said. He added that there is a huge growth potential in the credit card market in India due to “favourable demographic changes and extremely low credit card penetration rate”.

Also read: BACKSTORY: When an upset FII hammered SBI shares, but was let off with a warning

Amara began his banking career with SBI in 1991 as a probationary officer. Over the years, he has gained expertise in credit, risk, and International Banking, both, in India and abroad. He was also posted on international shores twice — first in Singapore and then in the US.

Tewari was, meanwhile, elevated as the managing director of SBI. On Wednesday, the appointments committee of the Cabinet cleared the names of Tewari and Swaminathan Janakiraman as new MDs of SBI. The appointments are for a period of three years. Janakiraman was the deputy managing director (Finance) at the country’s largest lender.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Revival of animal spirits with 11% growth rate next fiscal year: CEA Subramanian

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Chief Economic Adviser K V Subramanian on Saturday said the country would witness revival of ‘animal spirits’ of private enterprises with the economy staging a ‘Vshaped’ 11 per cent growth in the next fiscal year beginning April. The Economic Survey 202021 presented in Parliament on Friday expects the growth rate to rebound sharply from an estimated record contraction of 7.7 per cent in the current financial year on account of the impact of the COVID19 pandemic.

Chief Economic Adviser K V Subramanian on Saturday said the country would witness revival of ’animal spirits’ of private enterprises with the economy staging a ’V-shaped’ 11 percent growth in the next fiscal year beginning April. The Economic Survey 2020-21 presented in Parliament on Friday expects the growth rate to rebound sharply from an estimated record contraction of 7.7 percent in the current financial year on account of the impact of the COVID-19 pandemic.

”I think next year with an 11 percent growth rate, that is anticipated. Private sector moves in when they see opportunities,” Subramanian said when asked about the revival of ’animal spirits’ in private investment. The expression ’animal spirits’ was coined by celebrated economist John Maynard Keynes to refer to investors’ confidence in taking action in terms of investment.

Subramanian, the lead author of the Economic Survey, also made a case for strong counter-cyclical measures to encourage private investment. Observing that there are business cycles in the economy and there are peaks and troughs, he said, when the economy is doing really well, private sector is also doing very well and it’s time for the government to step back and consolidate its fiscal position.

”But when the economy is not doing well, it’s in a trough, the private sector, therefore, is not doing very well, the void that is left on consumption, investment etc, the government moves in and fills that void,” he told.

Click here for the complete coverage of Budget 2021.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Shree Cements Q3 profit jumps over two folds to Rs 632 cr

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Revenue from operations was up 12.57 percent to Rs 3,541.38 crore during the quarter under review as against Rs 3,146.01 crore in the year-ago period. Total expenses were at Rs 2,797.24 crore as against Rs 2,801.89 crore.

Shree Cements on Saturday posted over a two-fold jump in consolidated net profit to Rs 631.58 crore for the third quarter ended December 31, 2020. It had reported a net profit of Rs 311.83 crore in October- December period a year ago, Shree Cements said in a filing to BSE.

Revenue from operations was up 12.57 percent to Rs 3,541.38 crore during the quarter under review as against Rs 3,146.01 crore in the year-ago period. Total expenses were at Rs 2,797.24 crore as against Rs 2,801.89 crore.

Meanwhile, in a separate filing, Shree Cements said its board has reappointed Hari Mohan Bangur as Managing Director of the company for a further period of five years. His reappointment comes into effect from April 1, 2021 and would be subject to the approval of the shareholders.

The company operates in the market with brands Bangur Cement, Shree Cement, Shree Jung Rodhak and Rockstrong. It also operates in the power sector and produces Autoclaved Aerated Concrete (AAC) blocks.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Two lithium battery plants to be set up in Karnataka: Deputy chief minister C N Ashwath Narayan

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Deputy chief minister C N Ashwath Narayan said one unit would be established in Hubballi region and the other near Chikkaballapura.

Two lithium battery manufacturing plants would be set up in Karnataka to promote e-vehicles in order to reduce air pollution, deputy chief minister of the state C N Ashwath Narayan said on Saturday. The state was also preparing an exemplary energy policy, he said.

Speaking after launching an e-vehicle rally organised by the Rotary Club in Bengaluru, Narayana said one unit would be established in Hubballi region and the other near Chikkaballapura. The state had implemented an e-vehicle policy in 2018 for the first time in the country, he said.

A discount has been given to consumers – Rs 5 per unit is being charged in the place of Rs 9 per unit which is the rate of electricity for commercial use. Noting that the days are not far off when the manufacturers would be producing vehicles without fuel tanks/batteries, the deputy chief minister said the consumers can use the pre-charged batteries on a hiring basis.

To facilitate this, ‘battery banks’ would be set up across the state. The banks work in a similar fashion as that of petrol bunks, he said. “This will also make e-vehicles cheaper,” he said.

The e-vehicle manufacturing sector is growing rapidly and this may result in the extinction of petrol or diesel-driven vehicles in the next 10 years, Narayan was quoted as saying in a press release.

The state government is boosting this sector and the Bangalore Electricity Supply Company Limited (BESCOM) has been made to work as the nodal agency for establishing more charging stations, he said. BESCOM has already set up 150 charging stations and collaborated with NTPC to establish 150 more such stations, he added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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Should Elon Musk be able to buy Twitter?