View in the JustOut app

Prime Minister Narendra Modi on Tuesday termed demonetisation as the “bitter medicine” that he used to return money into the banking system and to give “proper treatment to deep-rooted corruption system” in the country, PTI reported. The Centre demonetised notes of Rs 500 and Rs 1,000 in November 2016, claiming that it would end the flow of black money, among other things.

04:08:05 on 20 Nov

Read more at Scroll

Nissan Motor Co Ltd’s chairman, Carlos Ghosn, has been arrested in a corruption case, the Yomiuri daily said on its website on Monday. The Japanese automaker said that Ghosn had used company money for personal use and that it had been investigating possible improper practices of Ghosn and Representative Director Greg Kelly for several months.

07:25:02 on 19 Nov

Read more at Hindustan Times

The Bombay HC questioned the Centre's decision of withholding the salary of a port trust employee since 2016 on the grounds that he had not linked his salary account with his Aadhaar. A division bench while hearing a petition filed by Ramesh Purale, said his salary cannot be withheld over failure to link his bank account with his Aadhaar card.

05:44:59 on 19 Nov

Read more at Indian Express
Sugarcane farmers protest in Bengaluru

Thousands of farmers, especially sugarcane growers, have gathered at the Freedom Park in Bengaluru in protest against the Government demanding dues running into crores of rupees from sugar factories as well as other demands like the implementation of the farm loan waiver scheme and ensuring minimum support price for sugarcane.

04:31:49 on 19 Nov

Tamil Nadu with a gross loan portfolio of ₹29,000 crore, accounts for 7.5% of the car finance market share in India, according to the latest data. As of June 2018, the State’s portfolio grew 16% compared to last year. Sixty-two per cent of the loan portfolio was concentrated in the districts of Chennai, Kancheepuram, Coimbatore, Tiruvallur, Salem and Madurai.

08:11:02 on 19 Nov

Read more at The Hindu

Ahead of RBI Board meeting, Congress leader P Chidambaram alleged that the central government was determined to "capture" the bank to gain control over its Rs 9 lakh crore reserves. In a series of tweets, the former finance minister also claimed that the government and the RBI was heading towards a "confrontation" in the Monday's board meeting of the bank.

01:56:01 on 18 Nov

Read more at News 18

Facebook investors have increased pressure on Chairman and CEO Mark Zuckerberg to step down after a report suggested that the social network hired a consulting and PR firm that "dug up dirt on its competitors". Jonas Kron, Senior Vice President at Trillium Asset Management which owns a substantial stake in Facebook," called on Zuckerberg to step down as board chairman.

11:50:01 on 17 Nov

Read more at NDTV

By India house prices will rise at half the rate of consumer price inflation next year, hit by dwindling credit supply, according to a Reuters poll of housing market experts who said Delhi, the national capital, will be hit hardest. House prices have risen at almost double-digit rates for over a decade in a country of 1.3 billion people.

08:25:01 on 16 Nov

Read more at Hindustan Times

The Narendra Modi-led NDA out financially-troubled Jet Airways, Bloomberg reported, citing people aware of the development. According to the report, the Mumbai-based conglomerate is in discussion with the Centre about a haircut to state-controlled banks on the beleaguered carrier’s loans while Airports Authority of India may waive off some of its dues.

01:15:57 on 16 Nov

Read more at Times Now

The chief of Flipkart Group's Myntra-Jabong said he will continue to lead operations at the fashion unit after a reshuffle in the ranks following the ouster of group CEO Binny Bansal. "I'm very excited about Myntra," Ananth Narayanan, CEO of Myntra-Jabong said after reports that he was likely to quit after he was made to report into Kalyan Krishnamurthy, Flipkart's CEO.

01:00:14 on 16 Nov

Read more at NDTV

The Enforcement Directorate has initiated an investigation into two cases of alleged foreign direct investment norms violation under the Foreign Exchange Management Act (FEMA) by e-commerce giants Amazon and Flipkart. The move came after NGO Telecom Watchdog filed a public interest litigation in the Delhi HC in July alleging that the two companies circumvented FDI norms.

05:25:01 on 16 Nov

Read more at The Print
Why banning private vehicles is a bad idea

Experts on Wednesday reiterated that a ban on all private vehicles that do not run on CNG, as being pushed for by the Supreme Court-appointed Environment Pollution (Prevention and Control) Authority (EPCA), would be ‘impractical’. They also doubted if the existing transport infrastructure could support the sudden increase in passengers.

12:55:01 on 16 Nov

Read more at Hindustan Times

Continuing its recovery momentum, the rupee vaulted 34 paise to close at a two-month high of 71.97 against the US dollar on robust foreign fund inflows amid low crude oil prices. Dealers said the strength in the rupee was also supported by increased selling of the greenback by exporters and banks. Globally, dollar and yen gained on Brexit-induced safe-haven buying.

09:10:02 on 15 Nov

Read more at NDTV

Jawa, the iconic motorcycle brand, has been reintroduced in India after a gap of around 25 years. Classic Legends, a subsidiary of the Mahindra Group, introduced three 300 cc Jawa motorcycles in India. The all-new Jawa motorcycle models were unveiled by Mahindra Group chairman Anand Mahindra.

04:25:01 on 15 Nov

Read more at The Hindu

The government is planning to soon make hallmarking mandatory for gold jewellery sold in the country, Food and Consumers Affairs Minister Ram Vilas Paswan said. The hallmarking of gold, which is voluntary in nature at present, is a purity certification of the precious metal. The BIS, under the Consumer Affairs Ministry, is the administrative authority of hallmarking.

03:58:50 on 15 Nov

Gold regained its sheen with prices climbing by ₹350 to ₹32,250 per 10 gram at the bullion market on increased buying by local jewellers coupled with a firming trend overseas.Traders said sentiment turned upbeat on firm global cues as the dollar slipped further from a 16-month high, raising demand for the precious metals as a safe haven.

03:31:47 on 15 Nov

Read more at The Hindu

Warren Buffett has cut bait on Bentonville. Buffett’s Berkshire Hathaway Inc. has sold its last Walmart Inc. shares, ending a relationship that dates back more two decades. The world’s largest retailer was once one of Berkshire’s five biggest equity holdings, valued at more than $5 billion but Inc.’s encroachment has prompted Berkshire to pare down that stake.

05:25:01 on 15 Nov

Read more at Livemint

The government on Tuesday, 13 November, announced that it will release a Rs 75 coin to commemorate the 75th anniversary of hoisting of Tricolour for the first time by Netaji Subhash Chandra Bose at Port Blair. The 35 gram coin will be composed of 50 percent silver, 40 percent copper, and 5 percent each of nickel and zinc.

12:25:01 on 15 Nov

Read more at The Quint

Driven by digital business transformation initiatives from both private and public enterprises, India's IT spending is poised to hit $89.2 billion in 2019, an increase of 6.7 per cent from the estimated spending of $83.6 billion in 2018, Gartner said on Wednesday.

10:40:01 on 14 Nov

Read more at The News Minute

For the Lok Sabha elections next year, online search major Google plans to replicate an exercise that it undertook during the recently concluded mid-term elections in the US, where they attempted to put in place “tight control” on who is spending on political advertisements, alongside guidelines requiring all such as to include a disclosure identifying who paid for it.

07:41:01 on 14 Nov

Read more at Indian Express

Chinese companies invested nearly $2 billion in Indian startups in 2017, a sharp increase from previous years and indicating their inclination to shift to India for its expanding market and less domestic vulnerability. In the 1st Startup India Investment Seminar held in Beijing last year, 12 Indian startups participated out of which four secured funding.

05:40:02 on 13 Nov

Read more at Hindustan Times

Gold prices came down by ₹100 to ₹32,050 per 10 grams at the bullion market on Tuesday owing to slackened demand from local jewelle₹despite a firm trend in overseas markets. Silver followed suit and cracked below the ₹38,000-mark by plunging ₹700 to ₹37,450 per kg due to reduced offtake by industrial units and coin makers.

04:52:54 on 13 Nov

Read more at The Hindu

After the five accused in the Salem train heist have been in the CB-CID custody for 14 days, they were lodged in the Puzhal prison. The interrogations have revealed their plans and execution of the heist in which they looted around Rs 5.78 crore. The arrested men have claimed that much of the cash they got became useless due to demonetisation within 3 months of the heist.

03:25:02 on 13 Nov

Odisha received investment commitments totalling over Rs 1,38,000 crore as RIL chairman Mukesh Ambani, Aditya Birla Group chairman Kumar Mangalam Birla and other industry captains pledged to pump in additional funds into existing projects in the state. On the first day of the 'Make in Odisha Conclave' here, Ambani said he would make a fresh investment of Rs 3,000 crore.

10:25:01 on 12 Nov

Read more at Times Now

The share of diesel cars in the overall passenger car segment has come down to around 22%, against a high of 50% in 2012-13. Among many factors that is instrumental in decreasing the demand for diesel cars, the reduction in price difference gap between petrol and diesel tops the chart. From a peak price gap of `29 a litre, diesel is now cheaper by only `5-8 a litre.

01:36:01 on 12 Nov

With the Central Government keen on revenue generation by privatising six airports in the country, including the one at Thiruvananthapuram, air transportation is going to be a high-priced affair for travellers. Any change in airport handling charges, including the landing and navigation charges, would be directly passed onto the passengers.

10:57:02 on 12 Nov

Finance Minister Arun Jaitley hit out at the "critics and cynics" who blame GST for growth deceleration, saying the tax reform had only a transient impact on growth and that too for two quarters. Thes remarks were apparently aimed at Raghuram Rajan, who blamed the GST and demonetisation for lower GDP growth. But the minister was silent on Rajan's criticism of the note-ban.

07:26:01 on 12 Nov

Read more at New Indian Express

What would a householder do when its expenses threaten to outstrip income? Dip into reserves, of course. The Indian government is not above this behaviour either. Hence when it looked like its fiscal math was too difficult to manage, the government seems to have hit upon a new reserve, called the Reserve Bank of India (RBI).

08:26:01 on 11 Nov

Read more at Livemint

Former Union finance minister P Chidambaram asked the Centre what was its "tearing hurry" to "fix" the capital framework of RBI when the ruling dispensation had just four months to complete the term. In a series of tweets, the senior Congress leader slammed the government for allegedly seeking funds from the RBI despite claiming that its (Centre) fiscal math was correct.

01:55:01 on 11 Nov

In an attempt to put at rest speculation about the government seeking Rs 3.6 lakh crore from the RBI, economic affairs secretary Subhash Chandra Garg on Friday said that the Centre’s fiscal math is on track and does not require any money from the Central bank. A “lot of misinformed speculation is going around in the media. The govt’s fiscal math is completely on track.

06:25:01 on 10 Nov

Read more at Deccan Chronicle

In a startling development, it has now been revealed that hours before Prime Minister Narendra Modi’s address to the nation on demonetisation on 8 November 2016, the Reserve Bank of India (RBI) had rejected two of his key justifications — black money and counterfeit notes — for taking the decision.

12:40:02 on 09 Nov

Read more at The Quint

Arun Jaitley posted a strong defence of demonetisation on its second anniversary today as opposition parties targeted the govt and even demanded an apology from PM Narendra Modi. In a FB post, he described PM Modi's overnight ban on higher currency notes on November 8, 2016, as a "key step in a chain of important decisions taken by the govt to formalise the economy".

11:49:44 on 08 Nov

Read more at NDTV

Petrol and diesel prices in New Delhi witnessed a drop and will be sold at Rs 78.21 per litre (decrease by 21 paise) and Rs 72.89 per litre (decrease by 18 paise) respectively on Thursday. In Mumbai, a litre of petrol is being retailed at Rs 83.72 (decrease by Rs 0.20), while diesel is being sold at Rs 76.38 per litre (decrease by Rs 0.19).

11:26:01 on 08 Nov

The National Tiger Conservation Authority (NTCA) recommended complete rejection of the 164.44 km broad gauge Hubballi-Ankola Rail project that would have gone through the bio-diversity hot spots of Karnataka. They cite the extremely fragile ecosystem of the Western Ghats will not be able to sustain or buffer the impacts caused by the construction of the rail project.

09:25:02 on 08 Nov

The GI Registry has accepted the application seeking a GI tag for Erode turmeric. The application is filed by law firm GMS Law Associates, on behalf of Erode Manjal Vanigarkal Matrum Kidangu Urimaiyalargal Sangam . A GI tag is a sign used on products that have a specific geographical origin and possess qualities or a reputation by virtue of their geographical association.

07:41:01 on 08 Nov

Read more at The Hindu

Traders in Sadar Bazar here on Wednesday stuffed old firecrackers inside vegetables to protest the SC's order on use of green crackers this Diwali. Members of the Sadar Bazar Welfare Association sold firecrackers inside bitter gourds, cauliflowers, capsicums and ladies' fingers. SC had said people in the country can burst firecrackers from 8 pm to 10 pm on Diwali.

06:40:01 on 08 Nov

Two years after demonetisation was announced, the big impact seems to have been on rural India in two ways – one, the relative erosion of rural agricultural wages; and two, the fall in bargaining power of farmers in receiving an attractive price for their produce. Both may have contributed to the crisis in many parts of rural India.

10:25:01 on 07 Nov

Read more at Hindustan Times

The ferment in institutions such as the CBI recently and in the Supreme Court earlier this year are “internal issues,” and, therefore, call for “internal correctives,” Vice President M Venkaiah Naidu said here Tuesday. Speaking to The Indian Express, Naidu said “there is a self-correction needed in those institutions” and there have to be internal discussions.

08:26:01 on 07 Nov

Read more at Indian Express

In a significant move related to the proposed integrated steel plant in Kadapa, the AP Cabinet has resolved to set it up as a govt-owned entity with private participation and to form a SPV called RSC. This is in response to the Central govt dragging its feet on fulfilling the assurance to set up the steel plant in accordance with A.P. Reorganization Act, 2014.

09:25:02 on 06 Nov

Read more at The Hindu

The standoff between the RBI and the government has, in the last few days, escalated to an extent which is rare, if not unprecedented. While there are more than one bone of contention between the two, at the heart of it lies the government asking for a surplus transfer of Rs 3.6 lakh crore from the central bank and the RBI being in firm opposition to the idea.

06:40:01 on 06 Nov

Read more at The Quint

Former RBI Governor Raghuram Rajan defended the central bank's call for greater autonomy from the govt, saying ultimately the nation stands to benefit from an independent and robust RBI. In an interview on CNBC-TV 18 telecast on Tuesday Rajan said current rift between the RBI and the government can be resolved if both sides respect each other's intent and autonomy.

05:10:01 on 06 Nov

Read more at NDTV

The Hyderabad metro stretch between Ameerpet and Hitec City will begin service by the end of December this year, said NVS Reddy, the managing director of Hyderabad Metro Rail Limited on Monday. There are 10 stations along this stretch, which are part of Phase 3 of the Hyderabad Metro Rail Project.

03:10:01 on 06 Nov

Read more at The News Minute

China’s online giants Alibaba and are taking their battle for relevance in the lucrative luxury goods market to a new level, as they aim to crack e-commerce tie-ups with top brands that usually shun selling through third parties. From Hugo Boss to La Perla underwear, the online shopping giants have recruited dozens of labels since launching their rival luxury sites.

03:25:01 on 06 Nov

Read more at Deccan Chronicle

TCS was pulled up by a US jury asking why engineers hired at its American outposts are 13 times as likely to be fired if they’re not South Asian, according to a report by Bloomberg. The Indian IT outsourcing company will be going on trial on Monday in California over racial discrimination claims by American workers who lost their jobs at TCS offices in the US.

02:10:01 on 05 Nov

Read more at News 18

S Venkatesh, a B Tech student of Velagaleru in Krishna district, is a busy man these days. A potter by profession, he is busy making diyas for the festival of lights in front of his modest house. The average income of a family is just Rs 8,000 to Rs 10,000 a month.Though busy, things are not rosy for Venkatesh or the hundreds of other families of potters.

10:10:02 on 05 Nov

Regular savings bank accounts require customers to maintain a certain AMB every month. Leading banks such as SBI, HDFC Bank and ICICI Bank have fixed their monthly average balance requirements according to the location of a customer's account. Banks charge a penalty from the customers who fail to maintain an average monthly balance in their savings account.

02:55:01 on 05 Nov

Read more at NDTV