Category: Corporate

Thecost of electric vehicle is relatively higher as compared to corresponding IC engine vehicle cost,the following steps have been taken by the Government to bring down the cost of electric/Hybrid vehicles on par with those internal combustion engines. i. The demand incentive for electric two wheelers has been increased to Rs. 15,000/KWh from Rs. 10,000/KWh with an increase in cap from 20% to 40% of the cost of vehicle from 11th June, 2021, thus enabling cost of Electric two wheelers at par with that of ICE two wheeler vehicles. The Government…

Sumit Kumar from Agra built the enterprise of his dreams named “Sumit enterprise” in 2018 which produces plastic brushes for cleaning purposes. Coming from a very humble background Sumit attained outstanding achievements as he turned from a labourer at a factory to an entrepreneur. Talking about his journey he says,   “I started my business with Rs 2 lakh. In the first 2 years, I was unable to take many orders as my products’ demand was increasing in market but I was short of funds. I needed a loan but…

Prime Minister Shri Narendra Modi addressed a function on “Depositors First: Guaranteed Time-bound Deposit Insurance Payment up to Rs. 5 Lakh” in New Delhi today. Union Finance Minister MoS Finance and RBI Governor were among those present on the occasion. The Prime Minister also handed over cheques to some of the depositors. Addressing the gathering, the Prime Minister said today is a very important day for the banking sector and crores of bank account holders of the country as this day is witnessing how a big problem which was going…

Amidst the global scare around the surfacing of the new coronavirus variant Omicron, the RBI was expected to maintain status quo and wait for a more opportune time to calibrate benchmark interest rate to promote growth without sacrificing the main objective of containing inflation. The Reserve Bank of India’s monetary policy committee (MPC) has kept repo rate at 4 percent while leaving many key rates unchanged, as hinted earlierby RBI Governor Shaktikanta Das. This is the ninth consecutive time that the central bank has left the rates on hold. The major highlights…

Various stations are being redeveloped on Indian Railways to provide modern amenities.  Rani Kamalapati station of West Central Railway and Gandhinagar Capital station of Western Railway have been developed and commissioned. On the basis of the experience of these two stations and techno-economic feasibility, modernisation of other stations is being done. Ministry of Railways is exploring various possibilities of funding to develop Railway Stations under different models. Time frame for construction of stations can not be indicated at this stage as station development program is complex in nature and requires…

Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman participated virtually from New Delhi in the G20 International Seminar hosted in Bali by the G20 Presidency of Indonesia. Union Finance Minister Smt. Nirmala Sitharaman speaks virtually in the G20 International Seminar hosted in Bali by the G20 Presidency of Indonesia from New Delhi Speaking on the G20’s theme for the year, “Recover Together, Recover Stronger”, the Finance Minister stressed on the fact that for a strong, sustainable, balanced and inclusive recovery of the global economy, it is imperative to…

The Reserve Bank of India’s (RBI) has kept the benchmark lending rate unchanged at 4 per cent. The decision was taken anonymously at the meeting of the six-member Monetary Policy Committee (MPC), headed by Governor Shaktikanta Das. The decision to maintain status quo on the benchmark interest rate comes in the backdrop of global scare due to the new coronavirus variant Omicron. The Governor said that the RBI will continue with an accommodative stance to revive and sustain growth on a durable basis. “Indian economy hauled itself out of its deepest contraction;…

The government informed Rajya Sabha on Friday that charging stations for electric vehicles are being set up at 22,000 of the 70,000 petrol pumps across the country. Replying to supplementaries during the Question Hour, Heavy Industries Minister Mahendra Nath Pandey said as a priority, such charging stations for electric vehicles would be set up at express highways, highways and populated cities. He also added that the government under the Faster Adoption and Manufacturing of (Hybrid) Electric Vehicles in India (FAME India)-II scheme has directed an institution working in the field…

The Secretary, Department of Food and Public Distribution, Shri Sudhanshu Pandey during his visit to Maharashtra inspected the paddy procurement center- Kardha in Bhandara district to oversee the paddy procurement being done in the state on Saturday, Senior Officers of Food Corporation of India (FCI), Maharashtra State Government, and procuring agencies accompanied him during this visit. Although, he was satisfied with the procurement operations but advised the State Government Authorities to improve upon the infrastructure at the procurement centers. He also interacted with the farmers at the center and encouraged…

The Ministry of Electronics and Information Technology (MeitY) today hosted a unique event – ‘Digital Payment Utsav’ as part of the week-long ‘Azadi Ka Digital Mahotsav’. The day celebrated the journey and rise of digital payments in India and brought together leaders from the Government, banking sector, fintech companies and startups. The event held at the India Habitat Centre witnessed the unveiling of the DIGIDHAN logo, launch of an awareness campaign called Digital Payments Sandesh Yatra with digital payments anthem titled ‘Chutki Baja ke’ (cashless, touchless, paperless). Top Banks and Fintechs were…