The Reserve Bank of India (RBI) has imposed penalties ranging between Rs 25-50 lakhs on four state-run lenders for violating Know Your Customer (KYC) norms and anti-money laundering standards. Punjab National Bank, Allahabad Bank, and UCO Bank were fined Rs 50 lakh each while Corporation Bank ...

The Union Cabinet approved the Code on Wages Bill on 3 July, which subsumes existing laws regarding minimum wages and other workers’ remuneration issues as part of the government’s efforts to improve ease of doing business. Speaking to the media after the Cabinet meting, Information and ...

Odisha government today signed an MoU with the Table Tennis Federation of India (TTFI) and Odisha State Table Tennis Association(OSTTA) to host the 21st Commonwealth Table Tennis Championship 2019 at Cuttack. The championship will be held at Jawaharlal Nehru Stadium Cuttack from July 17 to 22 ...

Public sector Indian Overseas Bank on July 1 said it has elevated Karnam Sekar as the new Managing Director and Chief Executive Officer with immediate effect, replacing R Subramaniakumar. Prior taking up the new role, Sekas was appointed as an officer on Special Duty and Whole Time Director in ...

State Bank of India (SBI) and National Investment and Infrastructure Fund (NIIF) inked a memorandum of understanding (MoU) to boost the availability of capital for infrastructure projects. The scope of the MoU includes equity investments, project funding, bond financing, renewable energy ...

The whaling ships have a permit to catch 227 minke, Bryde's and sei whales this year in Japanese waters. Japan's last commercial hunt was in 1986, but it has continued whaling for what it says are research purposes. It has now withdrawn from the International Whaling Commission (IWC) so is ...

The Indian Institute of Technology (IIT) Madras has launched a Data Platform of 'Integrated Database on Infrastructure Projects' (IDIP) aimed at enhancing the efficiency of infrastructure development in India and enable effective decision-making among different stakeholders involved in the ...

The Asian Development Bank (ADB) has approved USD 350 million loan for road project in the state of Chhattisgarh. The loan has been sanctioned to rehabilitate and upgrade state highways and major district roads in the state, which will improve connectivity and access basic services and livelihood ...

India, the US, Australia and Japan collectively came out in strong support of an ASEAN-led mechanism in the regional architecture for Indo-Pacific region. Senior officials of the four countries, at a meeting in Bangkok, also reaffirmed the commitment towards a free, open, prosperous and ...

National Aluminium Company Limited (NALCO), the Navratna CPSE under Ministry of Mines, Govt. of India, has been selected for the prestigious President’s Award for Excellent CSR. It may be mentioned that the Corporate Affairs Department, Govt of India, has selected NALCO for this award at the ...

Pravin Kumar Purwar has been appointed as the new Chairman-Managing Director (CMD) of BSNL, reports the Economic Times. Current CMD Anupam Shrivastava’s term and tenure will end in June this year, from when Purwar will take over. Shrivastava was appointed as CMD in January 2015. In 2014, the ...

Acknowledging that country’s telecom industry was under financial stress, Union Telecom Minister Ravi Shankar Prasad had constituted a committee chaired by Telecom Secretary Aruna Sundararajan to spell out revival plans for Telecom sector. About Aruna Sundararajan Committee Background: As ...