Wednesday , 18 September 2019
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SC cancels RERA registration of Amrapali Group

New Delhi: The Supreme Court on Tuesday came down heavily on Amrapali Group, a major real estate company, by penalising it extensively for committing fraud on thousands of homebuyers who invested their hard-earned money in its various projects. A Bench headed by Justice Arun Mishra cancelled registration of Amrapali Group of Companies under RERA (Real Estate Regulatory Authority) along with …

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BSNL chairman gets tough, sets targets for business verticals

New Delhi: State-run telecom firm BSNL chairman P K Purwar has set sales targets for the company’s various business verticals – fixed line, enterprise businesses, Fibre-to-Home and consumer mobility or wireless – to be achieved by the telecom circles in the current fiscal. The move is aimed at checking the build-up of operational losses that is pushing the public sector …

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Stall privatisation of ordinance factories, Mamata urges PM

Kolkata: West Bengal Chief Minister Mamata Banerjee here on Tuesday wrote to Prime Minister Narendra Modi to stall and reverse the move to corporatise all the ordinance factories, including the Ordinance Factory Board, headquartered in Kolkata. Noting that industrial policies under the Modi government have gradually been made more and more friendly towards the private companies, Banerjee said some core …

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BIZ SCAN

IMF lowers India’s economic growth projection NEW DELHI: The International Monetary Fund (IMF) on Tuesday slightly lowered India’s economic growth projection in 2019 to 7 per cent. According to IMF’s World Economic Outlook Update, India’s economy is set to grow at 7 per cent in 2019, picking up to 7.2 per cent in 2020. “The downward revision of 0.3 percentage …

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‘India will achieve 8% plus growth from FY 2020-2021 onwards’

New York: India will achieve a GDP growth of 8 per cent plus from fiscal year 2020-2021 onwards as the structural reform measures like the GST are set to yield the intended benefits, NITI Aayog Vice Chairman Rajiv Kumar has said. The eminent economist was in the city for the high level political forum ministerial meeting on Sustainable Development Goals …

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SC orders status quo on NCLAT verdict in Essar Steel insolvency case

New Delhi: The Supreme Court Monday ordered status quo as of today in the Essar insolvency case. A bench headed by Justice R F Nariman said the monitoring committee will continue its work till the case is heard on August 7. The bench was hearing a plea of the Committee of Creditors challenging NCLAT’s order of July 4 in which …

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New Classic and Bold Duster launched

PANAJI: With more than 1.90 Lakh Dusters on Indian Roads, Renault Goa had launched the new Classic and Bold Duster at the Priority Renault Taleigao Showroom at the hands of  Prakash Azavedo, Deputy Director of Transport.  It comes with superior SUV capabilities and 25 enhanced features;  with more audacious and bold, dominating exteriors elements – Tri winged full chrome grille, …

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BIZ SCAN

Bandhan Bank strengthens senior management Kolkata: Private lender Bandhan Bank, which reported a net profit of Rs 701 crore in the first quarter of the current financial, on Monday announced the appointment of Sanjeev Naryani as head of business. The bank said in a statement that Naryani would spearhead branch banking, wholesale banking, agri-business, retail lending, third party products and …

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‘Loss of cheque to be compensated by bank’

New Delhi: The apex consumer forum NCDRC has observed that it is a bank’s responsibility to compensate a customer for losing a cheque, including the dishonoured ones, deposited with it. The observation by the National Consumer Disputes Redressal Commission (NCDRC) came while directing Bank of Baroda (BoB) to pay over Rs 3 lakh to a Gujarat resident for losing a …

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‘IMF, WB should consult developing economies’ not RBI’s official view

Bhubaneswar: Clarifying that the RBI has not articulated any view on IMF and World Bank’s decision-making process on developing economies, central bank officials Monday said that the comments made by RBI executive director Rabi Mishra here were made in his personal capacity.  Mishra, at the conclusion of a three-day Kalinga Literary Festival on Sunday, said “multilateral institutions such as the …

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