After wheat price crashed soon after the harvest season started, chana price has also fallen below the government’s minimum support price (MSP), forcing farmers to hold the stock even as it means more misery for them. Local traders in parts of Madhya Pradesh and Maharashtra are quoting about Rs 1,000 less than the MSP of Rs 4,400 a quintal announced by the Central government. Price pressure on chana has come mainly due to bumper yield and higher acreage under pulses.
Former RBI governor Raghuram Rajan (in pic) may be among some of the world’s leading economists in the running for the post of Bank of England (BoE) governor as the UK government hunts for a candidate to take charge from next year, according to a media report.
The think-tank set up by the government to deliberate on issues related to e-commerce sector and cross-border digital trade will hold its first meeting on April 24.
Prime Minister Narendra Modi has asked party leaders to refrain from making “irresponsible” statements, saying such comments hurt the party’s image.
Petrol price on Sunday hit Rs 74.40 a litre — the highest level under the BJP-led government, while diesel rates touched a record high of Rs 65.65, renewing calls for cut in excise duty to ease burden on consumers.
A spike in suspicious transaction reports (STRs) post-demonetisation has the investigators on their toes, as they get to the root of dubious financial transactions after the biggest crackdown on black money. Data shows the number of STRs referred for further action has gone up from 53,819 in 2015-16 to 58,223 in 2016-17 and 65,829 in 2017-18. “I am not surprised by the increase in number of suspicious transactions as there is heightened surveillance by tax authorities over transactions. In fact, it was expected,” said Riaz Thingna, director at advisory firm Grant Thornton.
The resolution process for Essar Steel may undergo another round of bidding with sources indicating that both ArcelorMittal and Nu Metal could fail the eligibility test again after reconsideration of their applications by the committee of creditors (CoC) under the directions of Ahmedabad bench of National Company Law Tribunal (NCLT). World’s largest steel maker ArcelorMittal and VTB Capital-led Russian consortium Nu Metal had submitted bids for Essar Steel on February 12, in the first round of auctions.
The finance ministry is hopeful of Punjab National Bank, which has been defrauded to the tune of Rs 13,000 crore by two diamond merchants, making a quick recovery in the first quarter of the current fiscal. The government is also confident that the downgrade rating on the bank would be revised soon.
The finance ministry is unlikely to be a silent spectator of the ongoing affairs in ICICI Bank. It is likely to raise the allegations of conflict of interest and corporate governance issues in the next board meeting of ICICI Bank on May 7 or even before that once its new nominee director formally joins the board this week.
The Delhi High Court has directed the Delhi Cantonment Board (DCB) to reimburse the cost of medicines purchased by a retired headmistress of one of the schools run by the civic body for herself, husband and schizophrenic adult son.
Justice Rajiv Shakdher issued the interim direction after noting the "peculiar circumstances" of the woman's plea in which she claimed that since September 2014 she had been denied reimbursement of medicines purchased locally from chemists when such drugs were not available in the Cantonment General Hospital.