Daily News

Image

IRB Infrastructure Trust Gets LoA For Rs 4,428 Crore Project From National Highways Authority of India

IRB Infrastructure Trust (Private InvIT) received the Letter of Award (LoA) from NHAI for Rs 4,428 crore Lalitpur-Lakhnadon NH 44, TOT-12 project, for the revenue linked concession of 20 years,".

The project entails tolling and operation and maintenance activities on the largest single continuous stretch of 316 km (1,264 lane km) on the North-South corridor of NH44.

Did you Know

IRB Infrastructure Developers: Chairman and Managing Director- Virendra D Mhaiskar.

Image

PFRDA Makes 'Penny Drop' Verification Mandatory For NPS Fund Withdrawal

Through the 'penny drop' process,Central Recordkeeping Agencies check the active status of the savings bank A/C & match the name in the bank A/C No. with the name in PRAN, or as per the documents submitted.The provisions will apply across NPS, Atal Pension Yojana & NPS Lite for all types of exits/withdrawals, as well as for modification in subscribers' bank account details.

Did you Know

PRAN stands for: Permanent Retirement Account Number.
Deepak Mohanty- PFRDA chairman.

Image

Women's Participation In India's Workforce Rose To 37% In FY23: Education Minister

The participation of women in the country's workforce increased to 37% in the 2022-23 fiscal, Union Education Minister Dharmendra Pradhan said. Speaking at the 'Rozgar Mela' in Bhubaneshwar, Pradhan said the figure was 23% in 2017-18.

The rate of unemployment in the country has come down to 3.7% in 2022-23 from 6% in 2017-18.

Did you Know

Image

RBI Prescribe Norms For Closure Of DCCB Branches

The RBI District Central Co-operative Banks are allowed to close their un-remunerative branches without prior permission of the central bank, though a nod will be needed from the Registrar of Cooperative Societies of the respective state.

However, DCCBs will not be allowed to close branches if restrictions have been imposed on the bank by the RBI.

Did you Know

Image

Blackstone To Acquire Majority Stake In CARE Hospitals For $ 700 million

Blackstone has inked a pact to acquire a majority stake in Hyderabad-based CARE Hospitals from Evercare, a platform of TPG RISE funds, for $ 700 million (around Rs 5,827 crore), thus foraying into country's healthcare services sector. Private equity funds managed by Blackstone have acquired 72.5 per cent in Care Hospitals at an enterprise value of Rs 6,600 crore.

Did you Know

Image

Vigilance Awareness Week 2023 : 30 October to 5 November

The 2023 Vigilance Awareness Week is being observed from 30 October to 5 November, 2023 with the theme "Say no to corruption; commit to the Nation".

Observance of Vigilance Awareness Week every year during the last week of October is taken up to encourage all stakeholders to collectively participate in the prevention of, and the fight against corruption.

Did you Know

Image

India To Provide Additional Funding Of LKR 23 Million For Training Sri Lankan Military

India will provide additional funding of LKR 23 million (around Rs 58,75,900) for the training of Sri Lankan Armed Forces, the Indian High Commission here has said.

This was conveyed to Sri Lanka by the acting Indian High Commissioner Satyanjal Pandey when he met a senior local military delegation.

Did you Know

Image

ITR Filing By Individuals Grows 90% To 6.37 Crore In Annual Year 2021-22

The returns filed by individual taxpayers have increased from 3.36 crore in Assessment Year (AY) 2013-14 to 6.37 crore in AY 2021-22, registering an overall increase of 90% in 8 years.

During the current fiscal too, 7.41 crore returns have been filed for AY 2023-24 till date, including 53 lakh first-time filers, the Central Board of Direct Taxes (CBDT) said in a statement.

Did you Know

Image

Irdai Sets Up 12-member Panel To Simplify Wording Of Insurance Policies

Regulator Insurance Regulatory and Development Authority of India set up a 'Committee for Plain Language for Policy Wordings' to simplify the wording of insurance policies to help people make an informed decision before buying cover.

The committee has been asked to submit its recommendations within 8-10 weeks.

Did you Know

The committee is being headed by Mr L Viswanathan.

Image

In A first, India, EU Carry Out Joint Naval Drills In Gulf Of Guinea

India and the European Union carried out their first joint naval exercise in the Gulf of Guinea.

The exercise signalled the common determination to uphold the United Nations Convention on Law of the Sea (UNCLOS).

Indian Navy's INS Sumedha, an offshore patrol vessel, was joined by ships from navies of Italy, France and Spain.

Did you Know

Image

Competition Commission of India (CCI) Clears OTPP's Stake Purchase In BusyBees Logistics

CCI greenlit the Ontario teachers’ fund’s proposal to acquire a minority stake in logistics giant XpressBees' parent BusyBees Logistics Solution via the green channel route.

Under the green channel route, a transaction that does not risk major adverse impact on competition is deemed to be approved on being intimated to the competition watchdog.

Did you Know

Image

Credit Bureaus To Pay Rs 100 A Day For Delay In Updating Credit Info: RBI

Credit institutions (CIs) and Credit information companies (CICs) have been given 6 months to put in place the framework for compensation to customers for delayed updation/rectification of credit information.

Complainants shall be entitled to a compensation of Rs 100 per calendar day in case their complaint is not resolved within a period of thirty (30) calendar days.

Did you Know

Image

Infosys Inks Five-Year Pact With Smart Europe GmbH In Electric Mobility Space

Infosys signed a 5-year collaboration with automotive company smart Europe GmbH to refine its direct-to-customer business model in Europe.

Under the deal, Infosys will work with smart Europe GmbH to provide enhanced customer experience,data-driven personalisation & engagement for the existing model smart 1, the newly announced smart 3,and other upcoming all-electric models.

Did you Know

Image

Nokia Bags WiFi6-Ready Broadband Gear Deal From Tata Play Fiber

Finnish telecom gear maker Nokia said it has bagged a broadband gear supply deal from Tata Play Fiber to launch India's first WiFi6-ready broadband network.

Under the contract, Nokia will ship WiFi6 Mesh technology which the company claims is ideally suited to residential homes with large and multi-floor spaces, as well as for small office/home office (SOHO) enterprises.

Did you Know

WiFi6 network uses 2 spectrum bands to deliver data service while WiFi5 used only 5Ghz.

Image

World’s First AI Safety Institute To Be Set Up In UK: Rishi Sunak

The U.K. is to be the headquarters of the world’s first AI Safety Institute as the country takes the lead in examining and testing new types of artificial intelligence, Prime Minister Rishi Sunak announced in a speech in London.

The speech comes in preparation for the Global AI Safety Summit to be held on November 1 and 2 at Bletchley Park in Buckinghamshire.

Did you Know

Image

NTPC, EIL Join Hands To Work On Carbon Capture, Green Fertilizer

State-owned NTPC Ltd. signed an agreement with Engineers India Ltd (EIL) to work jointly on projects like carbon capture utilization and storage, green fuel among others.

Besides its R&D centre will also undertake joint projects on green fertilizers, bio-fuels, decarbonization, waste handling, water, ash with EIL.

Did you Know

Image

NITI Aayog Initiates Study To Develop Action Plan To Bridge India's Trade Deficit With China

Government think tank NITI Aayog has initiated a study to develop a comprehensive action plan to bridge India's trade deficit with China over time and align trading strategies with emerging geopolitical situation and potential risks to safeguard supply chains.

About 38 per cent (USD 73.3 billion) of India's merchandise trade deficit was with China alone in 2021-22.

Did you Know