Amazon bribery case | One Indian and one Indian American among six indicted in the US, all you need to know

Amazon bribery case | One Indian and one Indian American among six indicted in the US, all you need to know

Six people, including an Indian national and an Indian-American, were indicted by a US grand jury on September 18 for conspiring to pay over $100,000 in commercial bribes to employees and contractors of Amazon for unfair competitive advantage on its merchant platform. Here’s everything you need to know about the case:  — All six were […]

Continue Reading
Covid blues: Govt’s liabilities jump 7% in June quarter

Covid blues: Govt’s liabilities jump 7% in June quarter

As of end-March, the total liabilities, which also include the liabilities under the ‘Public Account’, stood at Rs 94.62 lakh crore. The government’s total liabilities rose by a steep 7.1%, or Rs 6.73 lakh crore, in the April-June period to over Rs 101.35 lakh crore, against a 0.8% increase in the previous quarter, a finance […]

Continue Reading
Karnataka CM Yediyurappa discusses state’s development with PM Modi, invites to inaugurate Bengaluru tech summit

Karnataka CM Yediyurappa discusses state’s development with PM Modi, invites to inaugurate Bengaluru tech summit

The state government’s flagship ‘Bengaluru Tech Summit’, actually scheduled in September this year, was postponed to November in view of the COVID-19 pandemic. Karnataka Chief Minister B S Yediyurappa on Friday met Prime Minister Narendra Modi in New Delhi and discussed various developmental issues pertaining to the state. He also invited Modi to inaugurate the […]

Continue Reading
Majority opp parties back amendement to IBC; Some flag possible misuse by corporates, demand relief for farmers

Majority opp parties back amendement to IBC; Some flag possible misuse by corporates, demand relief for farmers

A majority of opposition parties supported ‘The Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020’, which was passed by Rajya Sabha on Saturday, and also urged the government to provide interest waiver on loans to farmers and poor people suffering due to the COVID crisis. During the debate on the Bill, which grants relief to […]

Continue Reading
Centre says rural jobs scheme won’t be starved of funds

Centre says rural jobs scheme won’t be starved of funds

As per the MG-NREGS dashboard, the Centre has released Rs 61,071 crore to states so far in the current fiscal. The Centre on Friday reaffirmed its commitment of making funds available under the Mahatma Gandhi National Rural Employment Guarantee Schemes (MG-NREGS) to states and union territories (UTs), keeping in view the rising demand for work. […]

Continue Reading
Petrol, diesel prices cut for second straight day in Delhi, Mumbai and other metros

Petrol, diesel prices cut for second straight day in Delhi, Mumbai and other metros

Petrol and diesel prices have been slashed for the second day in a row across metro cities on September 18. In Delhi, the cost of petrol was lowered by 26 paise points to Rs 81.14 per litre, while the diesel price was lowered by 35 paise to Rs 72.20 per litre, according to data available on the Indian Oil Corporation (IOCL) website. In […]

Continue Reading
India’s fuel demand to contract 11.5% in 2020: Fitch Solutions

India’s fuel demand to contract 11.5% in 2020: Fitch Solutions

Fitch Solutions has revised downward its forecast for fuel demand contraction in India to 11.5 percent in 2020 in line with further deterioration in the country’s economic outlook. Its economists forecast India’s real GDP to contract by 8.6 percent in the fiscal year 2020-21 (April 2020 to March 2021), down from -4.5 percent previously. “Demand […]

Continue Reading
Rules of origin: Stricter regime soon to screen FTA benefits

Rules of origin: Stricter regime soon to screen FTA benefits

The Budget earlier this year had introduced a change in Section 28DA of the Customs Act that pertains to procedures regarding claim of preferential rate of duty. The concessional customs duties, including zero duty, under free-trade agreements (FTAs) would be available to importers only if they can prove that products have undergone value addition of […]

Continue Reading
India Ratings revises banking sector outlook to negative for H2 FY21

India Ratings revises banking sector outlook to negative for H2 FY21

Domestic rating agency India Ratings and Research on Friday revised its outlook on the country”s banking sector to negative for the second half of this fiscal from stable due to the likely increase in stressed assets, credit costs and weak earnings. It expects restructuring/slippages pool from the corporate sector to be around Rs 3.3 lakh […]

Continue Reading
19 | How to ship a vaccine at minus 80 degrees Celsius, and other obstacles

19 | How to ship a vaccine at minus 80 degrees Celsius, and other obstacles

David Gelles Many things will have to work out to end the coronavirus pandemic. Drug companies will have to develop a safe and effective vaccine. Billions of people will have to consent to vaccination. But there are more prosaic challenges, too. Among them: Companies may have to transport tiny glass vials thousands of miles while […]

Continue Reading