(ET) The familiar image of a steam engine may not signify Indian Railways for long. The national transporter is considering replacing the iconic logo with a more contemporary symbol with a nod to the future as part of its first image makeover and rebranding exercise since Independence. “The current logo depicts the polluting steam engine that gave out black smoke. It is not in sync with the government’s vision of promoting clean fuel. Also, the railways should now speak more about the said a senior railways ministry official, who did not wish to be identified. The ministry has announced that…
Author: Aruna Sharma
(PTI) Days after the Nirav Modi-PNB scam, the banking sector took another big hit with Rotomac pen promoter Vikram Kothari allegedly swindling Rs 3,695 crore from banks, prompting central probe agencies to register cases, question him and carry out searches at his Kanpur premises on Monday. The Central Bureau of Investigation (CBI) and the Enforcement Directorate(ED) are already probing two complaints from the Punjab National Bank (PNB) against billionaire diamantaire Nirav Modi and a jewellery company alleging fraudulent transactions worth about Rs 11,400 crore. The banks involved in Rotomac’s case, in which the CBI as well as the ED have…
(AU) गुजरात में भाजपा ने जीत का सिलसिला जारी रखते हुए सोमवार को निकाय चुनाव की 75 में से 47 नगरपालिकाएं जीत लीं। मुख्य विपक्षी दल कांग्रेस को 16 नगरपालिकाओं में विजय मिली। जबकि एनसीपी और बसपा के हाथ एक-एक शहरी निकाय लगा। चार निर्दलीय उम्मीदवारों ने भी जीत का स्वाद चखा है। छह सीटों पर अब तक कोई परिणाम नहीं निकल पाया है। राज्य चुनाव आयुक्त वरेश सिन्हा ने बताया, इन नगरपालिकाओं में पिछले शनिवार को मतदान हुआ था। उन्होंने बताया, 24 शहर में 75 नगरपालिका के कुल 2060 वार्ड पर मतदान हुआ। इसमें से भाजपा ने 1167, कांग्रेस…
(LiveMint) Enthused by investors’ response to its toll-operate-transfer (TOT) model, aimed at monetizing India’s publicly funded highways, state-run National Highways Authority of India (NHAI) is planning to auction toll collection for road length totalling around 1,720km. The auction is expected to fetch the government around Rs15,000 crore, said a person aware of the development requesting anonymity. The work for these operational national highways across Odisha, West Bengal, Bihar, Uttar Pradesh, Rajasthan, Gujarat, Tamil Nadu and Telangana comes even as NHAI is preparing to auction roads totalling 648km for around $1 billion. The tender is expected to open on 23 February.…
(PTI) The CBI on Monday arrested three more Punjab National Bank (PNB) officials after intense grilling during the day in connection with Rs 11,384 crore scam involving billionaire jewellery merchants Nirav Modi and Mehul Choksi, officials said. The agency also started searches late this evening at group offices of Nirav Modi at Peninsula Business Park in lower Parel, Mumbai. The total number of arrests by the CBI has risen to six — four PNB officials, a retired employee of the bank, and an authorsied signatory of Nirav Modi’s company — after today’s development. Manoj Kharat, a Single Window Operator at…
(LiveMint) Reliance Industries Ltd (RIL), India’s largest private sector enterprise, and its global partners will set up the country’s first integrated industrial area in Maharashtra with an investment of Rs60,000 crore, RIL chairman and managing director Mukesh Ambani said on Sunday. “Reliance, along with other global companies, will invest over Rs60,000 crore in the next 10 years in Maharashtra, which will be the first integrated industrial area in the country,” Ambani said on the opening day of the Global Investors’ Summit at Magnetic Maharashtra Convergence 2018 being held in Mumbai. Ambani did not say where the integrated industrial area would…
(PTI) Energy Efficiency Services Ltd (EESL), which is leading government campaigns for electric vehicles, LED bulbs and smart meters, is preparing the ground for a new $20 billion market that will include gas engines to produce cooling, heat and electricity to halve power costs for establishments like hotels, hospital and malls, its managing director said. “It’s a technology that has existed for a very long time. This is something that EESL is now going to venture into in a very, very big way. Same service model. Currently, we have completed energy audits in two hotels and we also have an…
(PTI) Prime Minister Narendra Modi dedicated the first phase of the Rs 7,900-crore 4th terminal project of the JNPT to the nation, which will raise the cargo handling capacity of the nation’s largest container port by 50 per cent. The fourth terminal project seeks to double JNPT’s capacity to nearly 10 million standard container units and will make it the 33rd biggest port globally. In contrast, the global export powerhouse China already has 15 ports with over 20 million TEUs capacity. The nation’s largest port JNPT has a capacity of 4.8 million standard container units capacity now and with this…
(PTI) Indian Oil Corp will invest Rs 70,000 crore to raise its oil refining capacity by about a quarter by 2030 as it takes the lead to meet rising energy needs of the country. IOC will expand its refining capacity to 116.55 million tonnes per annum (MTPA) by 2030 from the current 80.7 MTPA with an investment of about Rs 70,000 crore, a top company official said. India’s current refining capacity of 247.6 MTPA exceeds consumption consumption but with demand growing at a compounded annual growth rate of 3.5-4 per cent, it will need to add more capacity to meet…
(Tribune) The Confederation of Indian Industry (CII) has demanded disbanding of truck unions in the state because of their unethical and monopolistic practices. Presenting its budget wish list to the state government, the CII has demanded immediate action to this problem, apart from mooting sustainable growth of the industry through a reform-based agenda. “The state government should focus on strengthening ease of doing business (EoDB) initiatives, investment in infrastructure and harnessing of competitive advantages. This will go a long way in growth and sustenance of the industry in the state beyond 2020 which marks the sunset of the incentive package…