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Finance


Kerala Chief Minister Pinarayi Vijayan on Monday sought to send a firm message to officials in his administration that he will not tolerate the “red tape” mindset and asked them to get cracking on investment proposals without loss of time. “The era of red tape mindset is over. We have to change our attitude,” he …

CAG of India

The Ministry of Finance spent Rs 1,157 crore on several heads during 2017-18 without obtaining prior approval of Parliament, the Comptroller and Auditor General (CAG) report tabled in Parliament Tuesday said. Over-expenditure aggregating Rs 1,156.80 crore was incurred during 2017-18 without obtaining prior approval of Parliament, the CAG report ‘Financial Audit’ of the Accounts of …

R Venkataraman, managing trustee of Tata Trusts, India’s biggest charitable group, may move to another part of the Tatas. The issue of Venkat’s continuation and his possible shift into another role may be taken up at the Trusts’ upcoming board meet next week, sources said. An email sent to Tata Trusts’ spokesperson on the matter …

The Serious Fraud Investigation Office (SFIO) has filed a petition in the National Company Law Tribunal, Mumbai, for winding up the Indian Bullion Market Association (IBMA) and Juggernaut Projects Ltd., which are being probed in connection with the stated Rs 5,600 crore National Spot Exchange (NSEL) scam. IBMA is a subsidiary of NSEL and step-down …

Anil Ambani-led Reliance Group companies on Saturday alleged that they will take all appropriate legal steps against L&T Finance to protect and enhance the value of their respective stakeholders. The group companies which have decided to take independent legal recourse covering Reliance Infrastructure, Reliance Capital and Reliance Power. The development comes a day after Reliance …

Baba Ramdev-promoted Patanjali Ayurved has said the government’s revamped e-commerce policy on foreign direct investment (FDI) which was rolled out on February 1 this year “will help to create a level playing field for all retail platforms, and encourage fair and healthy competition among them”, one year after it penned extensive partnerships with leading e-retailers …

The matter of alleged horse trading in Karnataka echoed in Lok Sabha on Monday as the Congress cited a purported audio clip of BS Yeddyurappa to accuse the BJP of trying to lure ruling coalition MLAs, a charge firmly rejected by Union Minister Sadananda Gowda. Congress members, comprising Sonia Gandhi, staged a walkout from the …

India’s most celebrated marketers and global gurus will come together in the country’s first marketing festival, Star FLOW — The Change Festival, to be held in New Delhi on March 14-15. Renowned American theoretical physicist, screenwriter, and author Leonard Mlodinow, communications expert Roger Fisk (widely credited with playing a key behind-the-scenes role in the back-to-back …

Soon, your bad traffic record may cost you big in the manner of the higher car insurance premium. The transport department is planning to penalize recent traffic offenders and incentivize those who have not been involved in any road mishap or booked by traffic police in the last five years. As per a ToI report, …

Banks are looking for ways of harnessing technology to transform customer service by automating customer queries, minimizing human intervention and extending services to accomplish financial tasks over chat or voice conversation. Major lenders like HDFC Bank, IndusInd Bank, Kotak Mahindra Bank, and Yes Bank are adopting chatbots and voice bots for customer care. The shift …

Diamantaire Mehul Choksi’s name has cropped up in suspicious land deals dating back to 2008 for a Panvel-rooted gems and jewelry special economic zone that never got off the ground. Records show Choksi bought land for a diamond SEZ in his own name and a few of his associates, and not in his company’s, in …

Having announced guaranteed pension of Rs 3,000 per month for 100 million unorganized workers, the finance ministry has demanded the labor ministry to see if it could fund the proposed hike in minimum pension under the Employee Pension Scheme (EPS) for its subscribers from its own kitty rather than seeking funds from the Centre. The …