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Feb 13, 2018 09:40 PM IST | Source: Moneycontrol.com

News highlights of the day: Monitoring P&W engine glitches to ensure safety, says DGCA

This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.

  • Feb 13, 09:15 PM (IST)

    Monitoring P&W engine glitches to ensure safety, says DGCA

    Aviation regulator DGCA today said it is monitoring engine glitches in the Pratt and Whitney- powered Airbus A320 Neo aircraft to ensure that safety is not compromised at any time.

    IndiGo has grounded three A320 neo aircraft due to engine problems.

    The DGCA move follows a directive from European aviation safety regulator EASA after instances of the engine's in- flight shutdowns and rejected take-offs involving A320 neo family planes.

    "It is to reiterate that DGCA is continuously monitoring these operations to ensure that safety is not compromised at any stage and A320neo aircraft in the fleet of Indian operators are being operated safely," according to a statement from the Directorate General of Civil Aviation.

  • Feb 13, 09:39 PM (IST)


    That's all for today, readers. Thanks for staying on with our coverage of the day's action. Your enthusiasm encourages us to better our coverage every day. Do come back tomorrow for more news, views and insights.

  • Feb 13, 09:27 PM (IST)

    NEET mandatory for medical courses in foreign varsities too

    The health ministry today made the national eligibility-cum-entrance test (NEET) mandatory for even those who wish to pursue medical courses in foreign universities.

    NEET was introduced in 2016 for admission to government and private medical colleges in India.

    "It has come to notice that medical institutions/ universities of foreign countries admit Indian students without proper assessment or screening of the students' academic ability to cope up with medical education with the result that many students fail to qualify the screening test.

    "In this regard, the proposal of Medical Council of India (MCI) to amend the Screening Test Regulations, 2002, making it mandatory to qualify NEET to pursue foreign medical course has been approved by this ministry," according to an official statement.

    According to a senior health ministry official, a mere 12-15 per cent of the graduates who come back after studying abroad manage to clear the Foreign Medical Graduates Examination (FMGE).

  • Feb 13, 09:24 PM (IST)

    Commonwealth starts secret talks on who will succeed Queen Elizabeth II

    Senior Commonwealth officials are holding secret talks here to decide who will succeed 91-year-old Queen Elizabeth II, media reports said on Tuesday.

    The Queen was proclaimed Head of the Commonwealth at her coronation in 1953, when she was the head of state in seven of the organisation's eight members.

    A high-level group of Commonwealth officials on Tuesday held a day-long summit here and, according to insiders, were poised to discuss who should replace the monarch after her death.

    The meeting's agenda, seen by BBC, includes consideration of wider governance, which sources told the broadcaster was code for the succession.

    The post of the head of the Commonwealth is not a hereditary position that will pass automatically to the Prince of Wales, currently Prince Charles, 69, when the monarch dies.

  • Feb 13, 08:42 PM (IST)

    Over 3.4 lakh imported DES distributed in India in 2017: NPPA

    Drug eluting stents (DES) with landed cost between Rs 15,001 and Rs 20,000 accounted for 45 percent of total sales of the imported medical device in India in 2017, according to national drug pricing regulator.

    The National Pharmaceutical Pricing Authority (NPPA) also said contrary to the hype of stents imported from China garnering major portion of sales, the country accounted for a meagre one per cent of the total stents distributed in India last year.

    Out of a total of 4,04,144 drug eluting stents imported last year, a total of 3,41,229 units were distributed, the NPPA said in a tweet.

    Of these, the NPPA said 1,51,898 units priced between Rs 15,001 and Rs 20,000 were distributed, accounting for 45 percent of the total sales.

  • Feb 13, 08:18 PM (IST)

     SA vs IND Match Update | Sharma stars with 115 as middle order fails  as India sets SA 275 to chase. Catch the latest match updates here

  • Feb 13, 08:03 PM (IST)

    Centre forcing states to reduce projected demand under MGNREGA: Supreme Court

    The Centre is "forcing" states to slash their projected demand for funds under the rural employment guarantee scheme due to which states were unable to provide employment to people, an NGO today alleged in the Supreme Court.

    A bench comprising Justices Madan B Lokur and N V Ramana was told by advocate Prashant Bhushan, representing NGO Swaraj Abhiyan, that the Centre cannot cap the funds under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) which provides for 100 days of employment per family per year.

    "Today, more than half of the state governments are controlled by the party which runs the central government. That is why the Centre is asking these states not to make a fuss about it (funds). The Centre is saying that if you (states) will make a fuss about it, we will cut the budget," he told the bench.

    He said budgetary constraints could come into effect only if employment has crossed the limit of 100 days per annum per family and the government cannot limit the funds till then.

    "The Centre is forcing states to reduce the projected demand," he claimed, adding that the average employment provided under the Act has come down to 40-45 days against the stipulated 100 days annually.

  • Feb 13, 08:02 PM (IST)
  • Feb 13, 07:34 PM (IST)

     SA vs IND Match Update | Sharma stars with 115 as middle order fails  as India sets SA 275 to chase. Catch the latest match updates here

  • Feb 13, 07:25 PM (IST)

     Government proposes permitting premature closure of PPF account

    The government proposes to allow premature closure of Public Provident Fund (PPF) accounts and permit opening of small savings accounts in the name of minor, the finance ministry said today.

    The legislative changes proposed in the Finance Bill 2018 are aimed at adding flexibility in operation of the account under Small Savings Schemes (SSS), it said.

    Dismissing concerns expressed in the certain section of media, the ministry said that all existing protections have been retained while consolidating PPF Act under the proposed Government Savings Promotion Act. (PTI)

  • Feb 13, 07:17 PM (IST)
  • Feb 13, 07:10 PM (IST)

     SA vs IND Match Update | Rohit Sharma has scored his 17th ODI century. India 203/3 in 36 overs at Port Elizabeth while batting first.

  • Feb 13, 06:56 PM (IST)

    Rahul Gandhi thanks Karnataka for 'affection and warmth'

    After winding up his four-day campaign in poll-bound Karnataka, Congress chief Rahul Gandhi today thanked the state for the "warmth and affection" it extended to him during the visit.

    Taking to Twitter, Gandhi posted a video showing highlights of the campaign 'Jana Ashirwada Yatre', during which he held rallies, interacted with farmers and visited temples and a dargah.

    "Thank you Karnataka for your warmth and affection!" he tweeted. (PTI)

  • Feb 13, 06:46 PM (IST)
  • Feb 13, 06:33 PM (IST)

     Defence Ministry's nod for procuring 7.40 lakh assault rifles

    The Defence Ministry today cleared a proposal to buy 7.40 lakh assault rifles at a cost of Rs 12,280 crore for the three services, officials said.

    The defence ministry will also procure light machine guns worth Rs 1,819 crore, they said. (PTI)

  • Feb 13, 06:13 PM (IST)

    Hike partners Ola for taxi-booking through its app

    Users of mobile application Hike will now be able to book Ola cabs, autos directly from their messaging app and pay through the Hike Wallet or in cash.

    The home-grown messenger Hike on Tuesday announced a partnership with taxi-hailing app Ola to bring cab and auto booking facility on the Hike app.

    Hike users can use Ola cab booking services through their Hike app from February 14.

  • Feb 13, 05:46 PM (IST)

    South Africa’s ruling party ANC has said it has decided that President Jacob Zuma must leave office, according to AP.

  • Feb 13, 05:35 PM (IST)

    YSRCP Chief Jaganmohan Reddy has said that Members of Parliament (MPs) belonging to his party will resign if Andhra Pradesh is not given special status by April 5.

  • Feb 13, 05:25 PM (IST)

    The National Green Tribunal (NGT) has directed Central Pollution Control Board to collect and analyse samples of Yamuna water in Delhi.

  • Feb 13, 05:10 PM (IST)

     London City Airport reopens after World War 2 bomb removed from Thames

    London's City Airport reopened and was operating as usual on Tuesday, the airport said, after a World War Two bomb which was found nearby was safely removed from the River Thames.

    All flights to and from the airport were cancelled on Monday after the half-tonne ordnance was found at the nearby George V Dock in east London, and a 200-metre exclusion zone was also put in place. (Reuters)

  • Feb 13, 04:52 PM (IST)

    India's tour of South Africa | JP Duminy will captain a South Africa Twenty20 squad with three new caps to take on India in three matches later this month, Cricket South Africa has announced.

  • Feb 13, 04:32 PM (IST)

     Fortis inks pact to acquire portfolio of RHT Health Trust

    Fortis Healthcare today said it has entered into definitive agreements with Singh Brothers-promoted RHT Health Trust (RHT) to acquire entire portfolio of assets of the Singapore-listed entity for an enterprise value of Rs 4,650 crore. (PTI)

  • Feb 13, 04:18 PM (IST)

    A view of the Raj Nagar Extension-UP Gate flyover on Tuesday. The road, being constructed on 228 pillars alongside the river Hindon and Hindon canal, is projected to provide commuters with a signal-free ride to Delhi in 10-15 minutes. PTI

       A view of the Raj Nagar Extension-UP Gate flyover on Tuesday. The road, being constructed on 228 pillars alongside the river Hindon and Hindon canal, is projected to provide commuters with a signal-free ride to Delhi in 10-15 minutes. PTI
  • Feb 13, 04:17 PM (IST)

  • Feb 13, 04:11 PM (IST)

     India saw 15,529 cases of failed male sterilisation since 2009, reveals RTI

    While male sterilisation is being encouraged as a population control measure, there have been many cases of failed vasectomy and at all India level, nearly 199 failed cases of male sterilisation were reported in 2017, reveals data collected from several replies received under Right to Information (RTI) Act.

    As per the data collected from the Union Ministry of Health by RTI activist Chetan Kothari, of these 199 failed cases, 5 were reported from urban areas and 194 from rural areas. They included 155 cases handled by public hospitals and 44 by private hospitals. The maximum failed cases were reported from Rajasthan.

    In all, over 15,529 cases of failed male sterilisation were reported in the country since 2009. The break up is: 2017 (199), 2016 (200), 2015 (203), 2014 (611), 2013 (1,163), 2012 (1,550 ), 2011 (964), 2010 (792), 2009 (1,530), 2008 (8,317 ). The maximum were reported from Odisha (7,821), followed by Karnataka (887), Bihar(665) and Andhra Pradesh (551).

  • Feb 13, 04:10 PM (IST)

    Here are the top headlines at 4 pm from Moneycontrol News' Sakshi Batra

  • Feb 13, 03:57 PM (IST)

    MFs seeks level playing field after tax DDT, LTCG imposition

    The mutual fund (MF) industry has sought level playing field vis-a-vis the unit linked insurance plans (ULIP) after the imposition of the dividend distribution tax (DDT) and long-term capital gains tax (LTCG) in the budget, an official of the industry body Amfi said.

    Association of Mutual Funds in India (Amfi) has already sent representations to the Finance Ministry and capital market regulator Sebi in the regard, the official said. "Earlier, the mutual funds were subject to securities transaction tax (STT) only. Now, this budget has imposed DDT and LTCG on mutual funds. It would have been better if LTCG was not there," Chief Executive of AMFI NS Venkatesh said.

    He said Amfi has asked for a level playing field vis-a-vis the ULIPs as these were almost similar instruments like MFs and there were no such taxes on them. "We have sent representations to both the Finance Ministry and SEBI to reconsider the tax impositions. Hope something will be done when the Finance Bill gets passed," he said. Venkatesh said there had not been any impact on the tax imposition on the MF industry so far and the flow to the assets under management (AUM) were normal like before.

  • Feb 13, 03:52 PM (IST)

    After waiver, crop loan disbursement in Maha plummets to 41% from 72%

    The loan waiver has hit crop loan disbursements by banks in the state, data from the state-level bankers committee (SLBC) till the end of January shows. In 2016-17 till the end of January, the state’s banks achieved 72% of their crop loan target. But during the same 10-month span in 2017-18, they have achieved just 41% of their target, reports The Times of India.

    In absolute terms, disbursal has fallen by Rs 15,004 crore. In 2016-17, banks lent Rs 37,099 crore till the end of January. By 2017-18, the figure fell to Rs 22,095 crore. The reason, bankers said, is that recoveries from farmers have been hit since they are waiting for the waiver payout. Unless defaults are cleared, banks do not extend fresh loans. The new sowing season begins in June.

  • Feb 13, 03:42 PM (IST)

     High-end bikes to get cheaper as govt slashes import duty

    Imported motorcycles from high-end brands, including Harley Davidson and Triumph, are set to get cheaper as the government slashed customs duty to 50%, reports PTI. Earlier, import of motorcycles with engine capacity of 800cc or less used to attract 60% duty, while those with capacity of 800cc or more attracted 75% duty. The Central Board of Excise and Customs (CBEC), through a notification on February 12, has slashed the duty on both these variants of motorcycles imported as completely build units (CBU) to 50%.

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