Nokia 3310, pre-orders from May 5 at a price of Rs 3,899

 Available in four color variants – Warm Red, Yellow, Dark Blue and Grey, Nokia’s latest feature phone runs on an S30+ operating system with a 2.5G connectivity. Nokia’s iconic phone, Nokia 3310 is all set to make a comeback. As per a report, Nokia 3310 (2017) will bae available for orders from May 5 at a price of Rs 3,899. The report also claims that the deliveries for the revamped Nokia 3310 will begin in May 2017 in India. Available in four color variants – Warm Red, Yellow, Dark Blue and Grey, Nokia’s latest feature phone runs on an S30+ operating system with a 2.5G connectivity. 

MCD polls: BJP leads in 71 wards; Cong, AAP rally behind 

The BJP took an early lead in MCD polls, heading ahead in 71 wards while rivals Congress and AAP were left far behind leading in 16 and 14 wards respectively, initial trends indicated today. The BJP took an early lead in MCD polls, heading ahead in 71 wards while rivals Congress and AAP were left far behind leading in 16 and 14 wards respectively, initial trends indicated today. The vote counting for 270 wards of three municipal corporations began at 35 centres across the city at 8 AM. Trends were availble for 104 seats. The BJP was leading in all the three-North, South and East Delhi Municipal Corporations. The party was leading in 31 wards while Congress and AAP on 6 and 1 wards respectively in North Delhi Municipal Corporation (NDMC) in the beginning of counting. 

HDFC Bank to raise Rs 50,000 cr via infra bonds, debt securities

 In a filing to the BSE, HDFC Bank said the board has approved the issue of debt instruments, Tier II bonds and long term infrastructure bonds of up to Rs 50,000 crore. HDFC Bank today said it will raise up to Rs 50,000 crore through debt securities and infrastructure bonds over the next 12 months In a filing to the BSE, HDFC Bank said the board has approved the issue of debt instruments, Tier II bonds and long term infrastructure bonds of up to Rs 50,000 crore. The securities would be issued on private placement basis, it said, adding that the approval of shareholders for the issuance would be sought in the ensuing annual general meeting. 

Retail bad loans rise for HDFC Bank in Q4; overall NPAs 

Even as banks reel from large corporate bad loans, HDFC Bank, the country’s second largest private lender, witnessed an increase in retail bad loans driven by spillovers from the demonetisation period. Even as banks reel from large corporate bad loans, the country’s second largest private lender, witnessed an increase in retail bad loans driven by spillovers from the demonetisation period Announcing its fourth quarter financial results on Friday, the bank posted a 34 percent increase in gross non-performing assets (NPAs) in gross NPAs jumped 34 percent to Rs 5,885 crore from a year ago’s Rs 1,320 crore and 12.5 percent from a quarter ago’s Rs 5,232 crore. 

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Railway station where Modi sold tea gets Rs 8 cr for facelift 

 The Vadnagar railway station in Gujarat where Prime Minister Narendra Modi used to sell tea during his childhood, is to get a facelift worth Rs 8 crore, Union minister Manoj Sinha said here today. "(A sum of) Rs 8 crore has been sanctioned for the development of Vadnagar railway station in Mehsana district," the minister of state for railways told reporters Sinha was in Sachana village today to inaugurate the Inland Container Depot (ICD), built by the Continental Warehousing Corporation (Nhava Seva) Ltd. Ahead of the 2014 Lok Sabha elections, Modi had often mentioned that he used to sell tea during his childhood at the Vadnagar railway station along with his father. Vadnagar town is also the birthplace of Modi. Giving further details about the project, Divisional Railway Manager (DRM) of Ahmedabad division, Dinesh Kumar said the entire project of developing Vadnagar and adjoining places in Mehsana district would cost over Rs 100 crore. "The development of Vadnagar railway station is one of the components of the Rs 100 crore project to develop Vadnagar, Modhera and Patan as tourist destinations. As of now, the Ministry of Tourism has given Rs 8 crore to the state Tourism Department to develop the railway station,

Inorganic growth of any reasonable size looks unlikely, says 

JSW Steel’s Seshagiri Rao While JSW Steel is looking at increasing its capacity to 40 MT over the next decade, company’s Joint MD and Group CFO Seshagiri Rao tells Moneycontrol that he doesn’t expect inorganic growth to contribute to its expansion plans. is looking at increasing its capacity to 40 MT over the next decade, the company’s Joint MD and Group CFO, that he doesn’t expect inorganic growth to contribute to its expansion plans. Edited excerpts:JSW has raised USD 500 million through bonds. Can you give details on what you intend to do with We have raised money to refinance expensive foreign currency loans. Our overall debt is not going up. The weighted average of our finance cost is 7.19 percent and we are looking to bring it down 19 basis points by end of FY18.What about acquisitions We are a growth-oriented group and we want to be a 40 MT steel player over the next decade. We have been evaluating various options. But what we are also very conscious about is our financial ratios. In 2016, these ratios went haywire due to exceptional market conditions and provisioning of the investment we made overseas. If you see our FY17 guidance, we have been saying we would like debt/EBITDA at 3.75x and debt/equity 1.75x. In FY17, we worked on bringing down these ratios. 

Mahatma Gandhi stamps sold at 500,000 pounds at auction in

 UK Only 13 of the 1948 Gandhi 10-rupee Purple Brown and Lake 'Service' stamps are in circulation. The block of four was sold to a private Australian collector for the highest ever price for Indian stamps, said UK-based dealer Stanley Gibbons. A set of four rare stamps featuring the portrait of Mahatma Gandhi has been sold for record 500,000 pounds at an auction in the UK which its seller said is the highest price ever paid for Indian stamps. Only 13 of the 1948 Gandhi 10-rupee Purple Brown and Lake 'Service' stamps are in circulation. The block of four was sold to a private Australian collector for the highest ever price for Indian stamps, said UK-based dealer Stanley Gibbons. The Indian stamps were particularly rare owing to the fact they were in a set of four. 

Go back to India: Woman screams at Asians on Irish train In the videos, 

Originally posted on Twitter, the woman can be seen and heard making expletive-ridden comments towards fellow passengers. A woman on a train in Ireland has been caught on camera making expletive-ridden racist comments towards fellow Asian passengers, telling one of them to "go back to India" for placing a bag on an empty seat, media reports said on Wednesday. In the videos, originally posted on Twitter, the woman can be seen and heard making expletive-ridden comments towards fellow passengers. Twitter user TheBexWay filmed the woman on a train from Limerick Colbert station to Limerick Junction on Sunday, Irish Independent reported. She messaged the Irish Rail account during the trip, saying the woman had been making abusive comments for 10 minutes, the report said. "Go back to India. Don't give me your guff," the woman was heard saying in the video.

EXCLUSIVE: Warren Buffett likely voted shares to back

 Wells Fargo board Wells Fargo's board is facing a threat at a shareholder meeting next week because proxy advisers are telling shareholders not to support many of them. The opposition is related to a scandal wherein employees created up to 2 million accounts in customers' names without their permission. Billionaire investor Warren Buffett supports Wells Fargo & Co's management and board of directors, and has likely already voted shares owned by him and and his conglomerate, Berkshire Hathaway Inc BRKa.N, in line with the bank's official suggestions, a representative told Reuters. 

Heard on the street: How automakers sold BS 3 vehicles even after 

March 31 deadline Despite wide-spread publicity there was no total exhaustion of stock by the deadline imposed by the Supreme Court. Offering as much as 40-50 percent discounts, some models of unspecified lot, remained unsold by March 31 liquidate BS III stock, ranging from Rs 10,000 for a standard motorbike to a couple of lakhs for a sportsbike. Despite the rush, some models of unspecified lot remained unsold by March 31. A source told this reporter that at least one two-wheeler major had asked its dealers to back-date insurance policies. These policies, which were limited to only one year (as asked by the manufacturer), were sold well into the first week of this month. Back-dating is when the seller puts an earlier date on the document than it was originally drawn up to make the transaction legal. It is one of the often used fraudulent means of transacting business.

Samsung Galaxy S8, Galaxy S8+ to launch in India today: will it be priced at Rs 59,999? 

The South Korean tech giant would hold a press event in New Delhi to mark the launch of the new flagship smartphones. Samsung Mobile India will launch their latest flagship smartphone the S8 and S8+ in India today (April 19). If sources are to be believed the smartphone will be priced at Rs 59,999 in India. The South Korean tech giant would hold a press event in New Delhi to mark the launch of the new flagship smartphones. 

China's economy grows 6.9% in first quarter of 2017: 

Govt "The national economy in the first quarter has maintained the momentum of steady and sound development," the National Bureau of Statistics said in a statement. China's economy grew 6.9 percent in the first quarter of 2017, government data showed today, beating expectations in the latest sign of stabilisation in the world's second-largest economy. The reading was better than the median analyst expectation of 6.8 per cent in an AFP poll. "The national economy in the first quarter has maintained the momentum of steady and sound development," the National Bureau of Statistics said in a statement. It added that "positive changes kept emerging and major indicators performed better than expected".

China March steel output climbs to highest on record

 March's monthly total easily beat the previous record of 70.65 million tonnes hit in March 2016, data from the National Bureau of Statistics showed on Monday. China's steel output rose 1.8 percent in March to a monthly record of 72 million tonnes, stoking worries of a glut that continues to grow even as Beijing tries to rein in excess capacity in the bloated sector and demand remains flat. March's monthly total easily beat the previous record of 70.65 million tonnes hit in March 2016, data from the National Bureau of Statistics showed on Monday. In the first quarter, production totalled 201.1 million tonnes, up 4.6 percent from the same period a year earlier, the data also showed. The growing production as Chinese mills bid to profit from prices that soared in 2016 and into this year are undermining the government's years-long push to cut capacity to make the steel industry more efficient and tackle smog. 

United Airlines does it again, offloads couple on way to their wedding 

According to the couple, who said they were en route to get married, a federal marshal had escorted them from the plane before take-off from Houston, Texas, but United denied this on Sunday, saying in a statement that neither a marshal nor other authorities was involved. An engaged couple were removed from a United Airlines flight to Costa Rica on Saturday, as the airline remained under scrutiny following outrage caused by a video last week of a passenger being forcibly removed from a flight. According to the couple, who said they were en route to get married, a federal marshal had escorted them from the plane before take-off from Houston, Texas, but United denied this on Sunday, saying in a statement that neither a marshal nor other authorities was involved. The couple "repeatedly attempted to sit in upgraded seating which they did not purchase and they would not follow crew instructions to return to their assigned seats," United said in a statement, adding 

Ahead of third anniversary, Modi government seeks report card from ministers 

The achievements will be compiled in a booklet that the government plans to publish before May 26, the day Prime Minister Narendra Modi took charge three years ago. The Modi government, ahead of its third anniversary in power, has asked all ministers to submit their five major achievements that have benefitted people, including key reforms and comparative data reflecting the progress made since the BJP took office In a letter sent out this week, Information and Broadcasting Minister Venkaiah Naidu has asked all ministers to submit the data and observations to him. It will be compiled in a booklet that the government plans to publish before May 26, the day Prime Minister Narendra Modi took charge three years ago. A copy of the letter was obtained by PTI. In his letter, Naidu asked the ministers to send him "a three-page note in bullet form only". It said the note should cover five aspects: 

Govt to take feedback from companies for ease of biz ranking of states 

The DIPP, with the help of the World Bank, ranks states in terms of ease of doing business. The exercise was started in 2015. Andhra Pradesh and Telangana jointly topped the chart last year. Error loading player: No playable sources found The Commerce Ministry on Thursday said it will take feedback from businesses on implementation of reforms carried out by states while ranking them on ease of doing business this year. The ministry said the Department of Industrial Policy and Promotion (DIPP) will carry out a comprehensive business-to- government feedback exercise this year. As part of the exercise, "feedback will be taken from businesses on the quality of implementation of the reforms claimed by the states and UTs," it said. It added that the feedback scores will be used to generate a ranking of states/UTs in terms of reform implementation. "Such a ranking will be different from the last year's ranking, which was a ranking of de jure reforms (or reforms based on evidence submitted by states)," the Commerce and Industry Ministry said. 

NPA resolution kicks into high gear, but banks still need somebody to foot the bill 

The CDR system of restructuring corporate debt was introduced in 2001 as an institutional mechanism for restructuring corporate debt. Any loan exposure of Rs10 crore and more and involving at least two lenders could have been tackled on this platform. There is very little doubt that India’s bad assets problem is crippling growth. As of December 2016, commercial banks had stressed assets (gross non-performing assets and restructured standard advances) worth Rs 9.64 lakh crore, with four-fifths of the burden falling on public sector banks, where the NPA ratio had touched almost 12 percent. As on December 31, 2016, aggregate NPAs accounted for Rs 6,97,409 crore — or 9.3% of their advances. Yesterday’s press report suggests that government may be considering setting up a panel to handle the bad loan problem. While it is undoubtedly a welcome first step, the measures have to be bold enough to make a difference. It may be worthwhile taking a look at the existing arsenals at the bank’s disposal, namely CDR (corporate debt restructuring), SDR (strategic debt restructuring) and S4A (Sustainable Structuring of Stressed Assets).

India's GDP growth may slip to 6.7% in March quarter:

 Nomura According to the Japanese financial services major Nomura, the country's GDP growth is expected to dip to 6.7 per cent in the January- March quarter from 7 per cent in the fourth quarter of 2016. India's GDP growth is likely to decelerate to 6.7 per cent in March quarter but it will gradually recover to around 7.7 per cent in 2018 supported by higher consumption and public spending, says a report. According to the Japanese financial services major Nomura, the country's GDP growth is expected to dip to 6.7 per cent in the January- March quarter from 7 per cent in the fourth quarter of 2016. "However, we expect GDP to average 7.3 per cent in the second half of 2017 and 7.7 per cent in 2018 supported by higher consumption (state pay hikes, remonetisation, lower lending rates) and public spending," Nomura said in a research note. Regrading the "soft" industrial activity in February, Nomura said demonetisation has severely hurt industrial activity. However, this impact is expected to be 'transitory'. India's industrial output slipped to a 4-month low, contracting by 1.2 per cent in February. 

Indian state refiners to revise fuel price in 5 cities daily from May 1: 

To begin with, daily revision of fuel prices will be implemented in Puducherry and Vizag in southern India, Udaipur in the West, Jamshedpur in the East and Chandigarh in the North, they Hindustan Petroleum Corp - operate 90 percent of the retail outlets in the country The three have upto 200 fuel stations in the five cities, The roll out of "daily dynamic pricing" in five cities will help them identify the problems ahead of a nationwide roll out of the scheme later this year, the sources, who did not wish to be identified because of the sensitivity of the matter, said. No immediate comment was available from the state refiners. Indian private fuel retailers. 

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CWG Scam: Manmohan Singh-led PMO passed the buck on Suresh Kalmadi, 

The PMO instead of shifting responsibilities, should have ensured effective follow up, according to Public Accounts Committee. Under former Prime Minister Manmohan Singh, the PMO passed the buck with respect to Congress leader Suresh Kalmadi for his faulty supervision of the scam-hit Commonwealth Games (CWG). The Public Accounts Committee (PAC) adopted the contentious report on the 2010 Commonwealth Games and dismissed as "specious argument" the PMO's response that non-circulation of minutes of the meeting of a group of ministers on January 14, 2005 under then PM Manmohan Singh was best explained by the Ministry of Sports, according "When it comes to directions of the PM (Manmohan Singh) pertaining to projects of utmost national importance, PMO instead of shifting responsibilities, should have ensured effective follow up," the PAC

War on black money cannot be concluded with one action: Venkaiah Naidu

 "The Narendra Modi government has launched a war against black money. The war against black money cannot be concluded with one action alone. Demonetisation or remonetisation is one such step in the right direction. Many more things need to be done by our government to curb use of black money," he said. The war on black money cannot be concluded with one action alone and many more steps will be taken by the Modi government in this regard, Union Minister M Venkaiah Naidu said today, hailing the EC for countermanding the R K Nagar bypoll over use of money power. While terming the EC action as "the right decision" in the wake of charges of use of money power, he attacked the Congress for the generation of black money due to various scams worth thousands of crores that took place during their regime. Naidu also attacked the opposition parties on the EVM tampering issue saying, "They should instrospect instead of raising such issues as it seems that they cannot accept defeat after people rejected them". "The Narendra Modi government has launched a war against black money. The war against black money cannot be concluded with one action alone.

PBOC to skip open market operations for the 11th straight session

 "Although general liquidity level in the banking system is down a bit due to local government bond issuance, it is still at a relatively high level," PBOC said in a statement on its website. China's central bank said it would skip open market operations on Monday, citing "relatively high" liquidity level in the banking system despite some impact from local government bond issuance. It is the 11th consecutive session in which the People's Bank of China (PBOC) has abstained from open market operations. "Although general liquidity level in the banking system is down a bit due to local government bond issuance, it is still at a relatively high level," PBOC said in a statement on its website 

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I-T searches reveal Rs 89 cr channeled for RK Nagar bypoll 

The Income Tax searches held at the premises of an associate of Tamil Nadu Health Minister C Vijayabaskar has revealed routing of Rs 89 crore for "distribution to voters" in RK Nagar assembly constituency which goes to bypoll on April 12. The Income Tax searches held at the premises of an associate of Tamil Nadu Health Minister C Vijayabaskar has revealed routing of Rs 89 crore for "distribution to voters" in RK Nagar assembly constituency which goes to bypoll on April 12 According to sources, documents seized during searches at the premises of an accountant of the Minister showed details of Rs 89 crore and the money being channeled to RK Nagar through party functionaries. The amount was channeled through many party functionaries for distribution to voters, the sources told PTI. "We even found the names of some partymen who are also Ministers," an official said, adding, copies of voters list with entries like which voter should be paid what was recovered during searches at the MLA hostel premises. Meanwhile, searches that began yesterday has ended in most of the total 50 locations Tasks like recording of statements however continues 

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Fake call centre scam:

 Man who duped Americans of $300 million arrested in Mumbai Sagar Thakkar alias 'Shaggy', the alleged mastermind of the Internal Revenue Service call centre scam in which thousands of Americans were defrauded to the tune of USD 300 million, has been arrested by Thane Police. Sagar Thakkar alias 'Shaggy', the alleged mastermind of the Internal Revenue Service call centre scam in which thousands of Americans were defrauded to the tune of USD 300 million, has been arrested by Thane Police. According to Thane Police officials, Sagar, who was on the run since the unearthing of the scam last year, was placed under arrest late last night after he arrived at the Mumbai airport following his deportation from Dubai. A team of officers from Thane Police Commissionerate picked up Sagar from the airport, the officials said. The scam, which operated since 2013 through at least half a dozen call centres in Thane, targeted at least 15,000 US-based tax payers, who were allegedly conned by Indian tele-callers. The US Justice Department has charged 61 people and entities linked to the scam where call centre agents impersonated IRS, immigration and other federal officials and demanded payments for non-existent debts. 

RCom retrenches employees, delays payments:

 Vendors claim RCom hasn't been paying IUC to some of them for over two months. Airtel and Vodafone, it is reliably learnt. Customers have been facing interconnect issues in some key circles for a couple of days, too, for the same reason. An email query sent to RCom and other operators had evoked no response at the time of publishing. RCom, which is sitting on a debt of Rs 42,700 crore, reported a net loss of Rs 531 crore in the quarter ended December 2016. Consolidated revenues fell 11 percent to Rs 4822 crore in the December quarter. Industry sources say that non-payment of IUC dues are a cause of concern as they are largely a pass-through (customers have been billed for it and the company needs to pay a small part of it to other operators where calls have been terminated). Sources said that if non-payment of dues continue then the operators will be forced to restrict interconnect facility to RCom, which will cause inconvenience to customers. Some debt-laden operators have been lobbying with the government for relief as cash flows have only tightened over the last few quarters. It may be recalled that RCom shut down its profitable CDMA operations last year, which also impacted its financial performance. 

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ONGC sees its gas output hitting 5-year high in fiscal 2018: 

State-owned ONGC, which accounts for about two-thirds of India's total natural gas production, is likely to produce close to 25 billion cubic metres (bcm) of gas in fiscal 2018, the executives told Reuters. ONG"Oil and Natural Gas Corp expects its natural gas production to reach a 5-year high in the current fiscal year following the start-up in coming weeks of a long-delayed project in the Arabian Sea, two senior company executives said. State-owned ONGC, which accounts for about two-thirds of India's total natural gas production, is likely to produce close to 25 billion cubic metres (bcm) of gas in fiscal 2018, the executives told Reuters. The forecast compares with 23.5 bcm in the fiscal year to end March 2017, one of the executives said, representing expected growth of about six percent. The two asked not to be named as the figures have not been released by the company.Higher output from India's top producer would help the country meet Prime Minister Narendra Modi's target of reducing hydrocarbon imports by 10 percent by 2022.

Global M deal tally touches $678 bn in January-March:

 Mergermarket According to the global deal tracking firm, there were 3,554 deals worth USD 678.5 billion announced in January-March quarter of this year, while in the corresponding period last year there were 4,326 deals worth USD 622.9 billion. Global merger and acquisition activity got off to a good start this year with deals worth USD 678.5 billion announced in the first quarter, a rise of 8.9 per cent over last year, says a Mergermarket According to the global deal tracking firm, there were 3,554 deals worth USD 678.5 billion announced in January-March quarter of this year, while in the corresponding period last year there were 4,326 deals worth USD 622.9 billion. A year-on-year comparison shows that though there has been a decline in the number of transactions, the deal value has increased, which means that more money has been put in fewer number of transactions. 

PM Modi to inaugurate projects in Jharkhand today During his Jharkhand visit

 The Prime Minister will also inaugurate the Govindpur-Jamtara-Dumka-Sahebganj Highway and dedicate to the nation a Solar Power Facility at the Sahebganj District Court premises and Sahebganj District Hospital. Prime Minister Narendra Modi will lay the foundation stone of a multi-modal terminal on the River Ganga in Jharkhand today, a project which is an important component of the proposed national waterway between Varanasi and Haldia. During his Jharkhand visit, the Prime Minister will also inaugurate the Govindpur-Jamtara-Dumka-Sahebganj Highway and dedicate to the nation a Solar Power Facility at the Sahebganj District Court premises and Sahebganj District Hospital. 

35 airports don't have night landing facility:

 Govt tells Lok Sabha Airlines have to apply to the Airports Authority of India to facilitate night landing facility in a particular airport and then process of offering the convenience starts As many as 35 functional airports in the country do not have night landing facility, Civil Aviation Minister Ashok Gajapati Raju said today. Airlines have to apply to the Airports Authority of India to facilitate night landing facility in a particular airport and then process of offering the convenience starts "There are 47 licenced landing airports in the country while 35 are yet to apply for it," he said during Question Hour in the Lok Sabha.

Pepsi pulls Kendall Jenner ad after social media backlash 

The ad, released late on Tuesday, shows the fashion celebrity and reality TV star in a photo shoot when she sees protesters marching. Removing her wig and makeup, Jenner joins the crowd and hands a baseball cap-wearing police officer a can of Pepsi, prompting him to smile while marchers cheer and hug. PepsiCo pulled a commercial featuring model Kendall Jenner after the ad prompted outrage and ridicule from those who said it trivialized rights protests and public unrest in the United States. The ad, released late on Tuesday, shows the fashion celebrity and reality TV star in a photo shoot when she sees protesters marching. Removing her wig and makeup, Jenner joins the crowd and hands a baseball cap-wearing police officer a can of Pepsi, prompting him to smile while marchers cheer and hug. "Pepsi was trying to project a global message of unity, peace and understanding," the company said in a statement. "Clearly we missed the mark, and we apologise.

Aditya Birla Nuvo up 3% on payments bank license; 

AB Money jumps 20% on heavy volumes Industrialist Kumar Mangalam Birla-owned Aditya Birla Nuvo and Idea Cellular own 51 percent and 49 percent stake in payments bank, respectively. Idea Cellular own 51 percent and 49 percent stake in payments bank, respectively. "The Reserve Bank of India vide its letter dated April 3, has granted license to Aditya Birla Idea Payments Bank to carry on the business of payments bank in India," Aditya Birla Nuvo said in its BSE filing. Aditya Birla Nuvo is a holding company for the group's businesses like telecom, textile, insurance, financial services while Aditya Birla Money provides stock broking, wealth management, online management and corporate treasury services.

Titan glitters on Dalal Street as management hints at strong performance in Q4

 The Tata Group firm told the exchanges that consumer sentiment and demand had recovered in the March quarter and sales traction was seen across all divisions Consumer sentiment as well as demand scenario have recovered "quite significantly" in the January-March quarter, the Tata group firm said. The company witnessed sales traction during the period across all divisions, including jewellery, watches and eyewear, and is expecting a good year ahead. "Consumer sentiment as well as demand scenario recovered quite significantly (post demonetisation) by the beginning of the fourth quarter of 2016-17 and sales were good for all divisions by varying degrees," the company said in a filing to the exchanges  the company's management also elaborated on cash transactions.

Demonetisation redux? With ATMs running dry, cash crunch hits parts of country

 Even today many states are facing a severe cash crunch as many ATMs are not dispensing cash and not enough currency notes available. Nearly five months have passed since Prime Minister Narendra Modi announced the historic demonetisation move and after a gradual pickup in the cash in circulation in the economy, it seems a liquidity crunch again seems to be taking hold in some parts of the country. Anecdotal reports from many states suggests that due to a combination of factors, people have been struggling to obtain adequate cash from either ATMs or bank accounts. The worst hit seem Andhra Pradesh and Telangana where many ATMs have run dry. People in Hyderabad have been left stranded as several ATMs across the country displayed a no-cash board a State Bank of India official said that the supply of currency from RBI was far less than the demand. RBI has been supplying Rs 50 crore daily, whereas the demand was Rs 250 crore 

Unitech MD arrested for allegedly duping investors 

"The accused, Ajay Chandra and Sanjya Chandra of Unitech, have been arrested for not developing a project, Anthea Floors, at Gurugram," a police officer said. Unitech MD arrested for allegedly duping investors" Delhi Police's Economic Offences Wing has arrested the Managing Director of and another person for allegedly not developing a project despite receiving funds from investors, police said. "The accused, Ajay Chandra and Sanjya Chandra of Unitech, have been arrested for not developing a project, Anthea Floors, at Gurugram," a police officer said "Ninety-one people have invested Rs 35 crore in the project. The probe into the case is being monitored by a trial court," the officer said. It is learnt that the investors had also approached the Delhi High Court in this regard 

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Arun Jaitley says India will grow at 7.2% in 2017 and 7.7% in 2018

 Finance Minister Arun Jaitley also said India would require USD 646 billion in next five years for modernising its infrastructure - from highways to urban infrastructure. India will grow at 7.2 percent this year and 7.7 percent in 2018, Finance Minister Arun Jaitley said on Saturday, striking a bullish note about the economy’s ability to quickly gather pace in the coming months. However, he cautioned that emerging markets face new challenges from growing protectionism and geopolitical tension. “Indian economy is expected to grow at 7.2 percent in 2017 and at the rate of 7.7 percent in 2018,” Jaitley said that at the second annual meeting of the New Development Bank (NDB), popularly called the BRICS Bank, in New Delhi. Jaitley also said India would require USD 646 billion in next five years for modernising its infrastructure—from highways to urban infrastructure.