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Go First revival plan: DGCA to examine documents, conduct audit before restarting operations
Aviation regulator DGCA will examine documents submitted by Go First related to the revival plan and will also conduct an audit on operational preparedness before allowing the carrier to restart operations, sources said on Wednesday. Senior representatives of the current management of Go First, which has stopped flying since May 3, discussed various aspects of the revival plan with officials of the Directorate General of Civil Aviation (DGCA) in the national capital on Wednesday, they said.
World Bank to provide USD 200 mn for power sector reforms in Himachal
The World Bank will provide USD 200 million (about Rs 1,600 crore loan) to finance the Himachal Power Sector Development Program to bring improvements in renewable energy integration in the state, Chief Minister Sukhvinder Singh Sukhu said on Wednesday. With the addition of state equity, the total outlay for the programme would be Rs 2,000 crore and the World Bank funding is expected to be available by August 2023 for a duration of five years up to 2028, he said in a statement issued here.
Rains continue to lash parts of HP, loss due to floods pegged at Rs 219.29 crore
Moderate to heavy rains continue to lash parts of Himachal Pradesh on Wednesday, triggering landslides and leading to closure of over 100 roads across the state. As many as 127 roads were closed, out of which 90 are expected to be opened by Wednesday night, officials said. The cumulative losses due to rain-related incidents since the onset of monsoon on June 24 is estimated to be Rs 219.29 crore.
GST officers bust nexus of 30 fake firms for passing Rs 50 cr ITC
The GST officers have busted a nexus of more than 30 fake firms, who have availed ineligible input tax credit (ITC) of over Rs 50 crore, the finance ministry said on Wednesday. In an ongoing two-month-long special drive against fake registration, the Central GST Delhi West Commissionerate found multiple entities registered on the same address. During investigation, it was found that the said address was existent but the owner of the premises denied any knowledge about the existence of any firm.
Nvidia sees no material impact from reported AI chip restrictions on China
Nvidia expects no immediate material impact from the reported new restrictions on exports of artificial intelligence chips to China, CNBC reported on Wednesday citing CFO Colette Kress. Shares of the company pared losses and were flat in afternoon trading. The U.S. Commerce Department will stop the shipments of chips made by Nvidia and other chip companies to customers in China as early as July, the Wall Street Journal reported on Tuesday.
NEWS ALERT: TS Singh Deo to be appointed as deputy CM of Chhattisgarh.
His appointment has been approved by Congress president Mallikarjun Kharge
Pak government forms high-level committee to restructure & revive Pakistan International Airlines
Prime Minister Shehbaz Sharif on Wednesday constituted a high-level committee to restructure and revive the cash-strapped country's national carrier, Pakistan International Airlines (PIA). The committee, headed by Finance Minister Ishaq Dar, would present its proposals and recommendations to the federal Cabinet. The committee would deliberate on the different options for the restructuring and revival of the PIA.
No change in the rate of TCS for all purposes under LRS: Finance Ministry
The Finance Ministry saidthat there will be no change in the rate of TCS for all purposes under LRS and for overseas travel tour packages, regardless of mode of payment, for amounts up to Rs 7 lakh per individual per annum.It has also been decided to give more time for the implementation of the revised TCS rates and for inclusion of credit card payments in LRS.
NEWS ALERT: Sebi to introduce board nomination rights for unitholders of Infrastructure Investment Trusts (InvITs), Real Estate Investment Trusts (REITs)
Indian regulator tightens disclosure norms for offshore funds
India's markets regulator on Wednesday strengthened disclosure requirements for a set of "high-risk" offshore funds investing in local markets. Offshore funds that have more than 50% of their assets under management invested in a single group of companies and those that have more than 250 billion rupees ($3 billion) invested in Indian equity markets would need to disclose all its investors, SEBI said. Funds owned by the government, sovereign wealth funds, pension funds and public retail funds will be exempted.
India's first chip making plant coming up in Gujarat
"India's first chip (semiconductor) manufacturing plant will be set up in Sanand (Gujarat) by Micron Technologies," says Union Minister Ashwini Vaishnaw.
If activities in Canada impinge on our national security, we will respond: EAM Jaishankar
External Affairs Minister Dr S Jaishankar said: “They seem driven by vote-bank politics. Their responses have been constrained by what they regard as vote bank compulsions. If there are activities in Canada that impinge on our national security and integrity, then we will have to respond. You can see that this has impacted our ties in many ways in the last few years...”
BJP IT cell chief Amit Malviya booked in K'taka for posting video showing Rahul Gandhi in bad light, party calls it abuse of power
The Karnataka police have registered an FIR against BJP IT cell chief Amit Malviya for "promoting enmity within groups" and "instigating people" over a video that he posted allegedly mocking Congress leader Rahul Gandhi on social media, a move dubbed by BJP leaders in Delhi as an abuse of power. The case was registered following a complaint from Congress Karnataka Pradesh Congress Committee member Ramesh Babu in connection with a tweet posted by Malviya recently, police said on Wednesday. The tweet showed an animated video allegedly mocking Rahul Gandhi and showing the Congress party in poor light.
Chandrayaan-3 launch likely on July 13; ISRO chief says no final decision yet
India is looking at July 13 as a possible launch date for Chandrayaan-3 that entails landing a rover on the lunar surface. A senior official said the Chandrayaan-3 mission would be launched on July 13 at 2:30 pm from the Satish Dhawan Space Centre at Sriharikota. However, Indian Space Research Organisation (ISRO) Chairman S Somanath said while the date has not been finalised yet, the agency was looking at the earliest possible date between July 12 and 19.
Nepal President Ram Chandra Paudel discharged from hospital after cardiac treatment: Official
Nepal's President Ram Chandra Paudel, who recently underwent treatment related to a heart condition, was discharged from the hospital here on Wednesday, according to a statement issued by his office. Paudel, 78, was undergoing treatment related to the heart at the Manmohan Cardiothoracic Vascular and Transplant Centre since June 17 after experiencing health complications.
ideaforge Technology IPO receives 50 times subscription on Day 3 of share sale
Drone maker ideaforge Technology's Initial Public Offer (IPO) received 50 times subscriptions on day three of the share sale on Wednesday. The company's issue period was revised, as Thursday, June 29, is a holiday on the occasion of Bakri Id. Now, the offer will conclude on June 30.The Rs 567.24-crore initial share sale received bids for 23,24,32,420 shares against 46,48,870 shares on offer, as per data available with the NSE. The portion for Retail Individual Investors (RIIs) garnered 64.41 times subscriptions, while the non-institutional investor's quota got subscribed 63.94 times. The category for Qualified Institutional Buyers (QIBs) received 38.15 times the subscription.
NEWS ALERT: SBI Life board approves re-appointment of Mahesh Kumar Sharma as MD & CEO
Shahbad Dairy murder: Delhi Police files charge sheet against accused Sahil
The Delhi police have filed a charge sheet against Sahil, the man who repeatedly stabbed and bludgeoned a 16-year-old girl to death in full public view in the national capital's Shahbad Dairy locality on May 28. The 640-page charge sheet was filed before a POCSO court on Tuesday under section 12 of POCSO (punishment for committing sexual harassment upon a child) and sections of the Scheduled Caste and Schedule Tribe (Prevention of Atrocities) Act, court sources said.
Tata Communications to acquire Kaleyra in all cash deal
Tata Communications will acquireKaleyra for $7.25/share.The aggregate consideration is expected to be around $100 m
Authorities disallow Eid prayers at historic Srinagar Eidgah: Jamia Masjid managing body
Prime Minister's recent visit to the US set to bolster real estate sector's growth
Prime Minister Narendra Modi's recent visit to the United States has laid the groundwork for a robust collaboration that is poised to transform the real estate sector in India. The visit, marked by strategic discussions, historic events, and substantial agreements, has not only strengthened bilateral ties between the two nations but also created an environment ripe with opportunities for the real estate industry. During his visit, Prime Minister Modi engaged in fruitful talks with President Joe Biden, resulting in landmark agreements valued at approximately $6 billion across multiple sectors, including energy, defence, healthcare, and education.
NEWS ALERT: National president of Aazad Samaj Party and Bhim Army leaders' convoy attacked by armed men in Saharanpu
Kanshi Ram chief, Chandra Shekhar Aazad taken to a hospital in Saharanpur, Uttar Pradesh after his convoy was attacked by a few armed men and a bullet brushed past him. Details awaited.
Reliance Jio net adds 30.4 lakh users in April vs 30.5 lakh (MoM)
Telecom Data for April shows thatVodafone Idea net lost 29.9 lakh users in April vs loss of 12.1 lakh (MoM)
NEWS ALERT: Chandrayaan-3 launch scheduled for July 13 at 2:30 pm: Officials.
Equity investors become richer by Rs 3.43 lakh crore in two days of market rally
Equity investors became richer by Rs 3.43 lakh crore in two days of market rally that saw the BSE benchmark Sensex touching the record 64,000-mark in intra-day trade on Wednesday. Extending the previous day's rally, the 30-share Sensex surged 499.39 points or 0.79 per cent to settle at its life time closing high of 63,915.42 points on Wednesday. During the day, the index jumped 634.41 points or 1 per cent to hit its all-time intra-day peak of 64,050.44 points. In two days, the market capitalisation of BSE-listed firms went up by Rs 3,43,718.15 crore to Rs 2,94,11,131.69 crore.
About 2.74 lakh posts vacant in Indian Railways, over 1.7 lakh in safety category: RTI
About 2.74 lakh posts in the Railways are lying vacant as of June 2023 with more than 1.7 lakh of them in the safety category, according to an RTI reply. In the reply to a query filed by Madhya Pradesh-based RTI activist Chandra Shekhar Gaur, the Railways has said 2,74,580 posts are vacant in Group C, including Level 1. This includes a total vacancy of 1,77,924 in the safety category, it said.
News Alert
- Delhi court sends Supertech's chairman and owner R K Arora to ED custody till July 10 in money-laundering case.
US-India Relations LIVE: "US & India are better when we work together for peace and prosperity..." says Eric Garcetti
- "India conducts more military exercises with the US than with any other country...It is time for us to reframe our vision, reset it, and then make it real...US & India are better when we work together for peace and prosperity..."
Adani family sells USD 1 bn stake to GQG, other investors
Indian economy makes solid recovery despite global headwind: RBI Governor Das
Reserve Bank Governor Shaktikanta Das on Wednesday said that the Indian economy has made a solid recovery and is among the fastest-growing large economies despite heightened uncertainties and formidable headwinds. He said that financial stability is non-negotiable and all stakeholders in the financial system must work to preserve this at all times.
Govt hikes sugarcane FRP by Rs 10/quintal to Rs 315/quintal for 2023-24 season
The Centre on Wednesday announced a Rs 10 per quintal hike in sugarcane FRP, which is the minimum price that mills have to pay to sugarcane growers, to Rs 315 per quintal for the 2023-24 season starting October. The decision to increase the Fair and Remunerative Price (FRP) of sugarcane was taken at the meeting of the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi. The FRP of sugarcane has been fixed at Rs 315 per quintal for the 2023-24 season, up 3.28 per cent from current 2022-23 marketing year (October-September).
CBI registers FIR over irregularities in appointment of teachers in Delhi govt-aided school
The CBI has registered a case in the appointment of some teachers on the basis of forged documents in a school aided by the Delhi government and run by Vedic Sanskrit Agricultural Educational Society, officials said Wednesday. The Central Bureau of Investigation (CBI) has conducted searches at 13 locations in Delhi, Uttarakhand and Chhattisgarh recently in connection with the case, officials said. The agency registered the FIR 14 months after a preliminary enquiry showed that 16 candidates were recruited in V S Agriculture Senior Secondary School against 18 vacancies.
NEWS ALERT: AAP will contest all seven Lok Sabha seats in Delhi in 2024 general elections, says party leader Sandeep Pathak
FSR Live Update: "Despite global headwinds, the Indian economy and the domestic financial system remain resilient"
Indian economy remains resilient despite global headwinds, supported by strong fundamentals, says Financial Stability Report. Growth, lower inflation, reduced current account deficit, and robust financial system contribute to sustained growth. Global uncertainty and banking fragility in some countries are highlighted as risks.
R K Arora Live Update:
Patiala House Court in Delhi reserves an order on ED's request for a 14-day custody of Supertech's Chairman R K Arora in a money laundering case.
BMW unveils the all-new M 1000 RR in India:
BMW introduces the latest iteration of the M 1000 RR in India, with prices beginning at Rs 49 lakh (ex-showroom). The updated model, available as a completely built-up unit (CBU), includes the M 1000 RR Competition variant priced at Rs 55 lakh. Pre-orders are now open at authorized BMW Motorrad India dealerships.
Union Cabinet approves record-high Fair and Remunerative Price (FRP)
A sum of Rs. 315 per quintal for sugarcane farmers in the sugar season 2023-24. The move is set to benefit 5 crore farmers and their dependents, along with 5 lakh workers associated with sugar mills and related activities, announces I&B Minister AnuragThakur.
Go First Airlines Live Update:
Go First CEO Kaushik Khona and RP Shailendra Ajmera present airline revival plan to DGCA
Bangalore Police Live Update: FIR filed against BJP's Amit Malviya
Bangalore Policefiles FIR against BJP's Amit Malviya for alleged defamation and incitement against Congress. The complaint accuses him of promoting enmity through a video posted on social media. Congress leader Ramesh Babu lodged the complaint, citing malafide intentions and the spread of fake news.
Himachal Pradesh Live Update: Aiming to emerge as a 'Green State' by 2030
World Bank approves $200 million loan to support Himachal Pradesh's renewable energy goals. The funding will help the state add 10,000 MW of renewable energy capacity and facilitate power sector reforms, aiming to become a 'Green State' by meeting 100% of its energy needs through renewable sources by 2030.
Mumbai Live Update: Versova-Bandra Sea Link renamed
Maharashtra CM Eknath Shinde announces renaming Versova-Bandra Sea Link as Veer Savarkar Setu and Mumbai Trans Harbour Link as Atal Bihari Vajpayee Smruti Nhava Sheva Atal Setu, paying tribute to the iconic leaders.
India's Housing Sales Live Updates: Mid-segment housing dominates
Mid-segment housing dominates the Indian market with a 31% share of new supply, followed by the premium segment at 27% and the luxury segment at 23%.
BCCI Live Update: BCCI addresses political interference claims regarding Mohali's exclusion from World Cup venues
BCCI vice-president Rajeev Shukla responded to Punjab Sports Minister Gurmeet Singh Meet Hayer's accusation of political interference regarding the exclusion of Mohali from the ICC Cricket World Cup schedule. Shukla stated that Mohali's stadium did not meet ICC standards, and the venues were selected after careful consideration and ICC approval. He also mentioned that bilateral series matches would be given to Mohali and emphasized that the World Cup would contribute to the revival of the ODI format globally.
Mamata Banerjee Live Update: West Bengal CM sustains ligament injuries in left hip joint and knee
West Bengal Chief Minister Mamata Banerjee's helicopter made an emergency landing during a campaign for rural polls in north Bengal. The landing was necessitated by adverse weather conditions, resulting in injuries to Banerjee.
Aadhaar Live Update:
Indian government permits the use of Aadhaar authentication for birth and death registrations, granting the Office of Registrar General of India the authority, according to a gazette notification by the Ministry of Home Affairs.
India plans billions in subsidies for battery production in clean energy push:
The Indian government plans to introduce a significant subsidy program worth billions of dollars to support domestic production of electricity grid batteries, as part of its clean energy shift. Under the proposed scheme, companies would receive $2.63 billion from 2023 to 2030 to establish battery cell manufacturing capacity within India. The initiative aims to reduce reliance on battery imports from China and promote the development of new battery chemistries. The move aligns with the government's goal of boosting storage system manufacturing in the country.
Market Live Update: Sensex at an all-time high
Nifty surpasses 18,890 and Sensex rises by 250 points, with Bank Nifty crossing 44,200. Adani Enterprises and Titan register gains, contributing to the positive market momentum.For the latest market updates, follow our latest market live blog.
PM Modi Live Update: "Uniform Civil Code is diversionary tactics" says Congress
Prime Minister Narendra Modi's call for a Uniform Civil Code (UCC) sparked opposition backlash, with Congress accusing him of diverting attention from key issues like unemployment. AIMIM leader Asaduddin Owaisi questioned if the Hindu Undivided Family would be abolished under the UCC. Modi defended his stance, accusing the opposition of misleading the minority community. Owaisi challenged Modi to discuss UCC with Sikhs in Punjab to gauge their reaction.
RaGa's Bharat Jodo Yatra continues:
Congress leader Rahul Gandhi visits motorcycle mechanics in Karol Bagh, New Delhi, interacting with them and learning from their work. Gandhi posts pictures on Facebook, emphasizing the importance of these mechanics in keeping India moving. The Congress party shares the pictures, highlighting Gandhi's support for the working class.
