Sagarmala project created nearly 10,000 jobs in the last 3 years, says minister
on Monday said it has created about 10,000 jobs under its ambitious
'Sagarmala' initiative during the last three years. The Sagarmala
programme is an initiative by the government of India to leverage the
country's coastline and inland waterways to boost the logistics sector.
As of May 2019, 334 projects have been initiated across the country
under this programme, the minister said.
RBI slaps Rs 7 crore fine on SBI for violating norms
Reserve Bank of India Monday said it has slapped a penalty of Rs 7
crore on the country's largest bank SBI for non-compliance with norms
related to NPA identification and fraud risk management, among others.
The penalty has been imposed on the bank for non-compliance of income
recognition and asset classification (IRAC) norms, code of conduct for
opening and operating current accounts and reporting of data on Central
Repository of Information on Large Credits (CRILC), and fraud risk
management and classification and reporting of frauds.
Facebook must meet 'very high standard' for digital currency: Treasury chief
will need to meet "a very high standard" before it moves ahead with its
planned digital currency Libra, US Treasury Secretary Steven Mnuchin
said Monday. Mnuchin said US regulators have already expressed concerns
to Facebook about the plan for a global cryptocurrency, noting that
these kinds of virtual coins have in the past been associated with money
laundering and illicit activities.
GST collection of states, union territories increased to Rs 5.18 lakh crore in FY19, says Nirmala Sitharaman
collection of states and union territories increased to Rs 5.18 lakh
crore in the financial year 2018-19, a significant rise from Rs 2.91
lakh crore in 2017-18, Union Finance Minister Nirmala Sitharaman said in
Parliament. Last month, the GST Council, chaired by Finance Minister
Nirmala Sitharaman, met for the first time after the Modi government
returned to power.
Lok Sabha passes NIA Amendment Bill to give more power to anti-terror agency
a bid to give more power to the National Investigation Agency (NIA),
Lok Sabha on Monday passed a bill to allow India's anti-terror agency to
investigate cases of terrorism targeting Indians as well as Indian
assets abroad. The Bill, which amends the NIA Act, 2008, was first
introduced by the Minister for Home Affairs, Amit Shah, on July 8, 2019.
India's June import decline reflects further weakness in demand and activity
imports declined to their lowest level in four months in June to $40.29
billion, down 9% from a year ago, indicating weakening consumption in
Asia's third largest economy, economists said. In the last two quarters,
the Indian economy has seen a sharp fall in sales of automobiles,
petroleum products and consumer goods.