Plan and Policy

Plan & Policy

Musk Names Japanese Billionaire for `Dangerous Mission' to Moon

Japanese billionaire Yusaku Maezawa will hitch the first SpaceX ride around the moon and plans to invite as many as eight artists to join him -- with the rocket company’s founder Elon Musk possibly signing up for the space flight.

Maezawa will fly on Space Exploration Technologies Corp.’s BFR rocket on the trip in 2023, Musk announced Monday. SpaceX expects Maezawa, 42, to be the first private passenger to make the journey that only two dozen astronauts have been on during the Apollo era that ended 46 years ago.

History says merger in election year improbable

The grandiose announcement of yet another bank merger — three-way amalgamation of BoB, Dena and Vijaya — may have impressed proponents of banking sector reform. But the proposal may just remain on table as it faces many a hurdle, the biggest of them all being Parliament approval. The timing is also suspect as the announcement came just six months ahead of the scheduled general elections in April-May next year. Experts pointed out that the merger could hit a roadblock as the Narendra Modi-led NDA government isn’t yet enjoying majority in the Rajya Sabha.

Work RSS does is incomparable: Mohan Bhagwat

Rashtriya Swayamsevak Sangh does not seek domination and is indifferent to who comes to power, the Hindutva organisation’s chief Mohan Bhagwat said Monday, as he launched an unprecedented outreach in a bid to allay apprehensions about its ideology.

Almost all major opposition parties gave the conclave “Bhavishya Ka Bharat — An RSS Perspective” a miss though the RSS had invited them, while many BJP leaders, union ministers, Bollywood actors, artists and academicians attended it.

Data protection bill likely in winter session of Parliament

The government is hopeful of introducing the draft personal data protection bill in the ensuing winter session of Parliament, a senior IT ministry official said on Monday.

The draft personal data protection bill was drafted by a high-level panel headed by Justice BN Srikrishna and following the submission of the draft bill and data protection report in July-end, the IT ministry had sought public feedback on the provisions by September 30.

Lenders start hiking rates ahead of RBI meet

Ahead of the central bank’s monetary policy me­eting next month, lend­e­rs are increasing their len­ding rates.

HDFC Bank, the country’s second largest private lender, has hiked its base rate by 0.20 percentage points to 9.15 per cent. The new rate is effective from September 12.

Imposition of higher duties on US items not before Nov 2

The government will further extend the deadline for the imposition of higher cu­stoms duties on 29 products, including almond, walnut and pulses, imported from the US, a senior official said on Monday.

In June, India decided to impose retaliatory tariffs fr­om August 4. But it was extended by another 45 days till September 18. “We are still in discussion with the US authorities. The deadli­ne will be extended on Monday night,” the government official said, adding it will be extended for another 45 days until November 2.

FM sings stale currency tune

Finance minister Arun Jaitley on Monday blamed the depreciation of rupee to a combination of global factors, including trade war and internal policy decisions of the United States.

Schwing Stetter to invest Rs 350 cr in new TN plant

German concrete equipment manufacturer Schwing Stetter’s wholly-owned Indian subsidiary plans to set up its second manufacturing facility in Sipcot industrial area, Cheyyar, in Tamil Nadu for an investment of Rs 350 crore.

The new facility spreading over 53 acres will be located 60 km away from the existing facility. The existing facility, with an installed capacity to produce 8,500 units of different products, is working full steam and producing around 9,000 units per year. Hence, the company is creating a new facility.

Satya Micro raises Rs 34 cr funding

Satya MicroCapital has rai­sed Rs 34 crore from Swiss impact investment manager BlueOrchard Finance. The funding comes equally from two BlueOrchard managed funds – Microfinance Initiative for Asia (MIFA) and Ja­pan ASEAN Women Empowerment Fund (JAWEF).

The company said the capital will be used for on-lending to the Indian micro, small, and medium business sector, with a focus on wo­men entrepreneurs.

Warring couple filed 67 cases between them in seven years

It’s a matrimonial dispute of no parallel. A software engineer with a US citizenship and his estranged wife, a MBA-holder, filed 67 cases between them in different courts over the last seven years. The cases range from domestic violence to contempt of court. Finally, the quarrel reached the apex court which minced no word.