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Finance

RBI Directs IDBI Bank To Start Insolvency Proceeding Against Lanco Infratech

New Delhi: Lanco Infratech today said the Reserve Bank has directed its lead lender IDBI Bank to initiate insolvency proceedings for the company under the Insolvency and Bankruptcy Code (IBC). “Lanco Infratech Limited (LITL)…vide letter dated June 17, 2017, intimated under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) …

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Finance

Government To Launch National Data Repository On June 28

New Delhi: The government will next week launch India’s maiden National Data Repository (NDR) that will assimilate, preserve and upkeep country’s vast sedimentary data for future use in oil and gas exploration and production. Finance Minister Arun Jaitley and Oil Minister Dharmendra Pradhan will on June 28 launch the NDR, …

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News Updates

Mumbai’s Real Estate Launches Dip By 24% In January To March: Survey

Mumbai: The real estate project launches in Mumbai dropped by 24 per cent in the first quarter of 2017, a recent survey said. Launches dropped by 24 per cent at 4,900 units against 6,500 a year ago, a study conducted by the property consultancy firm Colliers International found. The trend …

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News Updates

No Ads Of Realty Projects Without Registering With Regulator

New Delhi: Clearing the air on real estate developers issuing advertisements, the government has said no ongoing or future projects can be advertised without registering them first with the new regulator. The clarification is likely to further dampen the already subdued real estate market that has seen no real appreciation …

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News Updates

Sensex Consolidates For Second Day, Nifty Settles Below 9,650

Indian shares ended flat on Wednesday as consolidation continued after the benchmark Sensex gained over 2 per cent in last one month and 7.25 per cent in last three months. Sensex shed 13.89 points to end at 31,283.64 while the benchmark Nifty closed below the crucial 9,650 level at 9,633.60, …

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News Updates

Government Working On New Industrial Policy

New Delhi: The government is working on a new industrial policy with a view to promoting and developing frontier technologies, innovation and enhancing competitiveness of domestic products. “With the changing manufacturing scenario, introduction of new technologies, innovation, R&D, artificial intelligence and automation, there is a need to completely revamp the …

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News

Flying Abroad? No Departure Cards Required From July 1

New Delhi: Indians flying abroad will not be required to fill departure cards from next month. However, those going out of the country via rail, seaport and land immigration checkposts will have to fill the embarkation card. “It has been decided to discontinue the practice of filling up of the …

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Finance

Government Sells Rs. 4,000 Crore Stake In Larsen & Toubro

Mumbai: India sold a 2.5 percent stake in engineering and construction group Larsen & Toubro Ltd (L&T) on Wednesday, raising more than Rs. 4,000 crore ($619.27 million) that will help the government meet its annual fiscal deficit target. The stake, held by the state-owned Specified Undertaking of Unit Trust of …

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Finance

Government Notifies 18 Sections, 2 Rules For GST

New Delhi: Days ahead of the rollout of Goods and Service Tax), the government today notified sections in the GST Act dealing with mandatory registration of current indirect tax payers in the new regime. As many as 18 sections relating to registration of current central excise, service tax and VAT …

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Finance

NITI Aayog Clears Rs. 18,000 Crore Project To Increase Train Speeds

New Delhi: The ambitious Rs. 18,000 crore project for increasing train speeds on the Delhi-Mumbai and Delhi-Howrah rail corridors has got the Niti Aayog’s approval, paving the way for being put up for Cabinet clearance. The mega project is meant to bring about a paradigm shift in rail operations enabling …

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