RBI announces Rs 28,000 crore interim dividend to govt
The Reserve Bank of India on Monday announced an interim dividend of Rs 28,000 crore to the government after its post-budget meeting with the Finance Ministry. The total surplus transfer to the government for 2018-19 now stands at Rs 68,000 crore. This is the first meet after the interim budget 2019-20 was announced on February 1.
Baba Ramdev’s Patanjali to open 100 new apparel stores
After causing ripples in the FMCG sector, yoga guru Baba Ramdev’s Patanjali is eyeing the fashion sector. The company will open 100 exclusive apparel stores across the country by next year along with starting e-commerce operations by the end of this year. The apparel range will also be available on Amazon, Flipkart and Paytm.
CIC pulls up Reserve Bank of India for non-disclosure of demonetisation records
The Central Information Commission has pulled up the Reserve Bank of India for “perfunctory handling” of an RTI application seeking records of its board meetings where the issue of demonetisation was deliberated, and issued a show-cause notice to its Central Public Information Officer.
Karol Bagh hotel fire: Health licence of 30 hotels in the area suspended by NDMC
Days after the Delhi government cancelled fire safety certificates of several hotels in Karol Bagh, the North Delhi Municipal Corporation (NDMC) has suspended health licences of 30 of those establishments, its Mayor said on Monday. North Delhi Mayor Adesh Gupta also said the civic body’s probe team investigating the deadly fire incident at Hotel Arpit Palace recently, in which 17 people were killed, has found that “violation of fire safety norms seemed to the main factor” resulting in the tragedy.
Revenue department plans panel to tackle bogus e-way bills
The revenue department is planning to set up a committee of tax officers to suggest steps to deal with bogus e-way bills. Many instances of bogus e-way bills and fake invoices have come to the notice of the Central Board of Indirect Taxes and Customs (CBIC) since April last year. Touted as an anti-evasion measure, the e-way bill system was rolled out on April 1, 2018, for moving goods worth over Rs 50,000 from one state to another
Nestle plans to launch up to 36 products in India in 2019
FMCG major Nestle India has lined up nearly two-three dozen products that it plans to launch in calendar year 2019 across categories to drive its aggressive growth plans in the country, Chairman and Managing Director Suresh Narayanan said Monday. Six per cent revenues of the company come from exports, and now they are looking to tap more overseas markets by targeting countries with higher Indian diaspora such as SAARC and South East Asia.
PM Modi to visit Varanasi today, to announce projects worth Rs 2,900 crore
Prime Minister Narendra Modi will visit his Lok Sabha constituency Varanasi, Uttar Pradesh on Tuesday and is expected to announce several development projects worth Rs 2,900 crore. PM Modi will be inaugurating 31 projects which have already been completed.