IDBI Bank sells 9% stake in Sidbi
State-owned lender IDBI Bank on Wednesday sold a 9.03% stake in the Small Industries Development Bank of India (Sidbi) for an undisclosed amount, IDBI Bank said in a stock exchange filing. IDBI Bank sold approximately 48 million shares of Sidbi, bringing down its shareholding to 3.68% from 12.71%. Earlier on Monday, IDBI Bank sold a 1% stake in Sidbi, also for an undisclosed amount.
Gujarat set to become India’s first electric vehicle hub
Gujarat was late when it came to assuming the mantle of India’s Detroit. But that race was for vehicles running on internal combustion engines. With policy focus shifting in favour of greener technologies and carmakers being forced to adopt electric and hybrid systems, Gujarat leads the race for manufacturing of such systems.
Petroleum products to be sold on e-commerce platforms soon: Pradhan
Soon, every petroleum product would be available on e-commerce platforms. “We have already got permissions to do that. When I presented the idea, a lot of people were skeptical, and now it is becoming a reality,” Petroleum Minister Dharmendra Pradhan said, while addressing India Mobile Congress in Delhi on Wednesday. The idea was first mooted by Pradhan at a meeting of the consultative committee of members of Parliament in Srinagar on April 21. The ministry wanted home delivery of fuel as a push to digital transactions, post demonetisation, and reduce the long queues outside fuel outlets.
Government to set up advisory board to fix national minimum wages
The government will set an advisory board to fix minimum wages for various sectors applicable across the country, a senior official of the labour ministry said. “The government would constitute an Advisory Board to fix the National Minimum Wages for employees and such wages differ and vary sectorally as well as regionally across the country as per requirements, skills and nature of jobs with the enforcement of proposed Labour Code on Wages 2017,” R K Gupta, the Joint Secretary in the labour ministry, said in a statement.
In six months, Magenta Line to connect IGI budget flyers directly with capital
By March next year, domestic Terminal 1 of Indira Gandhi International airport would get direct Metro connectivity. The domestic departure Terminal 1D and arrival Terminal 1C of the airport cater to budget carriers and see a footfall of approximately 1.75 lakh per day. However, the high-speed Airport Express Line, which connects the airport’s Terminal 3 with the city centre, doesn’t have a station near the domestic terminals. Passengers at present reach Delhi Aerocity station through shuttle services from the domestic terminals.
McDonald’s adds 12 new food items in south, west region
Fast food chain McDonald’s India has introduced 12 new products across its food and beverages category at its outlets in south and west India, the owner of its master franchisee for the region Westlife Development said today. The company, through its subsidiary Hardcastle Restaurants Pvt Ltd (HRPL), operates 261 McDonald’s outlets across 36 cities in the south and west India. The restaurant chain is introducing cuisines from across the world – a range of 12 new products with Italian, American and Indian roots, Westlife Development said in a statement.
Government approves Rs 25,000 crore umbrella scheme for police reforms
IN A major boost for police reforms, the Union Cabinet Wednesday approved a Rs 25,000-crore outlay for upgrading the internal security apparatus in states. According to Union Home Minister Rajnath Singh, the Cabinet Committee on Security, chaired by Prime Minister Narendra Modi, approved an umbrella scheme on “Modernisation of Police Forces”, with the money to be spent in three years from 2017-18. Of a total outlay of Rs 25,060 crore, the Centre will provide Rs 18,636 crore — around 80 per cent — while the states’ share will be Rs 6,424 crore, Singh said.
About the Author
