Wednesday, January 23News That Matters

India

Sebi unveils more reforms, board clears easier startups listing rules :

Sebi unveils more reforms, board clears easier startups listing rules :

Business & Corporate, India
In a series of reforms, capital market regulator Sebi's board on Wednesday cleared easing of norms to kick-start startup listings and allowed mutual funds to segregate distressed assets to safeguard investment returns. At a meeting held here, the Sebi board also approved a proposal to expand the offer-for-sale mechanism for reduction of stake in listed companies and relaxed clubbing of investment limit norms for well-regulated foreign investors. The expansion of offer-for sale scheme will include all companies with Rs 1,000-crore and above market-capitalisation.
Shaktikanta Das assumes charge as new RBI Governor :

Shaktikanta Das assumes charge as new RBI Governor :

India
The newly appointed Reserve Bank of India Governor Shaktikanta Das has said, maintenance of growth trajectory is one of the important focus areas the apex bank will concentrate on and will aim for timely measures too. He was speaking at his maiden press conference in Mumbai, after taking charge as the Governor of RBI as Urjit Patel stepped down from the post on Monday. Mr Das assured that he will hold fair, frank, and objective consultations with all stakeholders as this will add depth and value to the issues. For this, he would be meeting the CEOs and MDs of public sector banks tomorrow. He added that he would meet private sector banks as well. When asked about the tiff between the RBI and the Central Government, the Governor said every institute has its autonomy and should ha...
PM Modi hopes India’s effort to deny economic offenders safe havens abroad will show results :

PM Modi hopes India’s effort to deny economic offenders safe havens abroad will show results :

India
Prime Minister Narendra Modi today expressed the hope that India's efforts to ensure that economic offenders, who flee the country do not get safe havens abroad, will show results. New Delhi has put forth some suggestions before the international community to ensure that people "who commit economic offences, those who are fugitives should not get any sanctuary anywhere in the world", Modi said while addressing the 'Jagran Forum' organised by the Dainik Jagran media group in New Delhi. The prime minister said he put across New Delhi's stand before the strong economies at the recent G-20 meet in Argentina. He said that the government is working to bring back people, including Vijay Mallya, Mehul Choksi and Nirav Modi, for their alleged involvement in bank scams. India presented a ni...
Christmas in Goa: essentials to make your holiday fun and frolic

Christmas in Goa: essentials to make your holiday fun and frolic

India, Tours & Travels
Being in Goa is always fun, but have you ever thought of celebrating Christmas in Goa? The beach destination is globally renowned for its amazing parties, vibrant nightlife and its happy image has always attracted people from near and far. Christmas in Goa is the time to sing carols, go to midnight masses, beach parties, shopping, and much more. To make your Christmas more colourful and memorable, we offer certain ideas that might help you make the most of your holidays. Read along to know more: Be a part of carols and midnight mass So Christmas is also the time when you pray to the Lord to bestow you with happiness. Goa, as we all know, is home to some beautiful olden churches where midnight mass and carols are organised. Two of the prime churches here, namely The Basilica of Bom
Tourists can look forward to new great developments in Corbett Tiger Reserve this January :

Tourists can look forward to new great developments in Corbett Tiger Reserve this January :

India, Tours & Travels
Recently, the Uttarakhand state government has made a declaration that three new eco-tourism zones will be made on the periphery of the Corbett Tiger Reserve. The announcement has come a month after the Supreme Court of India lifted the ban on overnight stays in the forest rest houses near the tiger reserve. In the month of August, the division bench of the Uttarakhand High Court has banned tourists from staying overnight in national parks, reserve forests, and protected forests so as to protect the wildlife from incidences of poaching and human trespassing. Also, the court put a cap on the number of vehicles visiting the wildlife reserve to 100 per day. In October, the Supreme Court stayed the High Court’s decision. A month after the portals of Dhikala zone were opened for the touri
New ropeway from Mumbai will take you to Elephanta Caves in just 15 minutes now :

New ropeway from Mumbai will take you to Elephanta Caves in just 15 minutes now :

India, Tours & Travels
Everybody who lives in Mumbai or has ever visited the city of Bollywood, is aware of Elephanta Caves. They are the beautiful caves with some gorgeous rock art dedicated to Shiva, and are located on an island about 10 kilometers away from Mumbai. As of now, anybody who wants to travel to this historical wonder has only one option and that is to take a ferry ride from gateway of India to the caves. It takes almost an hour to reach from Mumbai by sea. And while the ferry ride is a great experience in itself, it is always a good idea to have another travel option ready, especially if that option helps you save a monumental amount of time. The central government has sanctioned a project to make a 8-km long ropeway connecting Mumbai to Elephanta Caves. And the best part you ask? It’ll t
IndiGo Launches New Non-Stop International Flights From This City :

IndiGo Launches New Non-Stop International Flights From This City :

India, Tours & Travels
IndiGo on Tuesday launched its first international flight from Vijayawada jointly with the Andhra Pradesh government, the airline said in a press release. IndiGo said it would operate two weekly non-stop services between Vijayawada and Singapore. The carrier further said customers would be able to avail the new flight services by booking tickets via its portal - goindigo.in. The addition of Vijayawada to the airline's international network comes amid high competition in the country's aviation sector, backed by robust growth in passenger traffic over past few months. IndiGo shared the schedule of its new flight services: Flight No. Origin Destination Departure Arrival Frequency 6E 34 Singapore Vijayawada 14:00 16:15 Tuesday, Thursday 6E 33 Vijayawada Sing
RBI proposes new method to benchmark floating rate of loans for MSMEs :

RBI proposes new method to benchmark floating rate of loans for MSMEs :

Business & Corporate, India
In a bid to ensure greater transparency, Reserve Bank has proposed that floating interest rates on personal, home, auto and MSMEs loans be linked to external benchmarks like repo rate or treasury yields. In a statement issued from Mumbai yesterday, RBI said that the final guidelines to link the interest rate to external benchmarks will be issued by the end of this month. Currently, banks follow system of internal benchmarks, including Prime Lending Rate, Benchmark Prime Lending Rate, Base rate and Marginal Cost of Funds based Lending Rate. The new system is likely to become operational by 1st April 2019. RBI has said that the banks should decide the benchmark rate system to be followed right at the inception of the loan and it should remain unchanged through the life of the loan. It ...
Finance Minister calls for dismantling trade barriers for faster economic growth

Finance Minister calls for dismantling trade barriers for faster economic growth

Business & Corporate, India
Finance Minister Arun Jaitley today said the global economy needs to cut down trade barriers. He was addressing the 80th Session of the Policy Commission of World Customs Organisation, WCO, in Mumbai through video conferencing. Mr Jaitley also called for open borders, saying trading across national boundaries is an economic imperative of the times and that barriers to free trade should be dismantled. He said it is in the larger interest of every country to make sure that trade barriers are brought down to the extent it is possible. The comments come amid growing concerns over tariff wars across the world. Mr Jaitley reiterated that nations across the world are now realising that increased trade helps not just the global economy but also it's their economies. He also affirmed th...