#PMO

Indian economy projected to grow faster than other major emerging economies, thanks to Modi government’s PLI scheme, says World Bank report

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India’s gross domestic product (GDP) growth is estimated to be 8.3 percent this fiscal year and 8.7 percent in 2022-23, according to the latest Global Economic Prospects report by World Bank. The upgrade in growth prediction reflects increased private sector and infrastructure investment, as well as rewards from advancing reforms. This estimate for 2021-22 is identical to the … Read more

CBI books shipbuilding company ABG Shipyard and its directors in Rs 22,842 crore bank fraud case

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In one of the biggest bank fraud case registered by the Central Bureau of Investigation (CBI), the agency has charged ABG Shipyard Ltd, its then Chairman and Managing Director Rishi Kamlesh Agarwal, and others with defrauding a consortium of banks led by ICICI bank of over Rs 22,842 crore. CBI also named the former Executive Director Santhanam Muthaswamy, Directors … Read more

Centrum-BharatPe’s Unity Small Finance Bank, which took over scam-hit PMC Bank, returns approximately Rs 3,800 crore to the depositors: Details

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Unity Small Finance Bank paid approximately Rs 3,800 crore to depositors of the scam-hit Punjab and Maharashtra Co-operative Bank (PMC Bank) on Thursday, 31st March, after the Deposit Insurance and Credit Guarantee Corporation (DICGC) certified approximately 850,000 such valid accounts earlier in the day. Abhinav Khare, the CEO of Asianet and also BharatPe co-founder and CEO took … Read more

Outcomes of 12th WTO Ministerial Conference favourable to India: Commerce and Industry Minister Piyush Goyal

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After five days of arduous discussions at the World Trade Organization (WTO), sources indicate that India made a significant influence, with its point of view expressed in all sectors, and that the country’s interests were not put at risk whatsoever. On June 17, Commerce and Industry Minister Piyush Goyal also stated that India had a fantastic triumph at the … Read more

Gautam Adani and his family’s donation of Rs 60,000 crore to be used in the fields of healthcare, education, and skill development

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On the occasion of the 60th birthday of Adani Group’s chairman Gautam Adani, he and his family decided to donate Rs 60,000 crore for social causes. The Adani Foundation will administer this corpus for various social causes. According to reports, the Adani Foundation will oversee the donations, which will be used to support healthcare, education, and … Read more

India’s newest airline Akasa Air gets Air Operator Certificate from DGCA, to start operations later this month

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Akasa Air, the newest airline in India backed by investor Rakesh JhunJhunwala, has received the nod from the Directorate General of Civil Aviation to start operations. The airline today informed that is has been granted the Air Operator Certificate (AOC) by the civil aviation regulator in the country. “We are pleased to announce the receipt … Read more

False and malicious: FSSAI refutes reports of allowing 10 times more pesticide residue in spices, says India’s standards strictest in the world

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The Food Safety and Standards Authority of India (FSSAI) has refuted media reports claiming that it allowed 10 times more pesticide residues in herbs and spices. The food safety regulator issued a press note Terming the reports “false and malicious”, and asserted that India has one of the most stringent standards of Maximum Residue Limits (MRLs) in … Read more

State-run banks recover Rs 6.4 lakh crore bad loans, and written-off loans since FY15 even as opposition creates confusion between ‘loan waiver’ and ‘loan writeoff’

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The Modi government recently completed 8 years of rule in the country. Reports released by the government state that the Public Sector Banks (PSBs) have recovered bad loans worth Rs 6.42 lakh crore since the financial year 2015. Along with this, 98.5% of willful defaulters have also been sued. According to the reports, from the financial … Read more

‘It is known as a biased organization with political agenda’: India firmly rejects USCIRF report on religious freedom in India

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India on Thursday rejected the report of the US Commission on International Religious Freedom that accused the ruling Bharatiya Janata Party (BJP) of “reinforcing discriminatory nationalist policies” and said the organisation is completely ‘biased’ and it doesn’t even expect from the organization to understand country’s diverse, pluralistic and democratic ethos. “The US Commission on International … Read more

CBI is an independent body, not under the control of Union of India: Central govt tells SC opposing WB govt’s plea against CBI probes

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The Central government on Thursday told the Supreme Court that the Central Bureau of Investigation (CBI) is an independent body and is not under the control of the Union of India and opposed West Bengal’s suit against the Centre over the CBI probes in the State. Solicitor General Tushar Mehta, appearing for Centre, raised preliminary … Read more