New Delhi

CCI dismisses Snapdeal's complaint against KAFF for setting minimum sale price

The Competition Commission on Tuesday dismissed a complaint by e-commerce firm Snapdeal against kitchen appliances maker KAFF with regard to alleged imposition of minimum resale price maintenance (RPM) on its dealers.

The fair trade regulator dismissed the complaint by Jasper lnfotech which owns and operates e-commerce platform Snapdeal as the it did not find any contravention of the Competition Act.

Irdai may get a woman member; 10 in fray

TL Alamelu (in pic),  chairman and managing director (CMD) of Agriculture Insurance Company, is likely to be appointed member (non-life) of the Insurance Regulatory and Development Authority of India (Irdai) in place of PJ Joseph, who retired on January 13.

Jaitley expected back on Saturday

Finance minister Arun Jaitley has unexpectedly left for the US for a medical check-up in follow-up of a kidney transplant he had undergone in May last year and is expected to be back this week, official sources said.

Though his departure was sudden, the sources said it could be treated as a regular check-up, but his family has not disclosed any details. The FM, who left on Sunday, is expected to be back by Saturday. There was also no official communication either on the state of the minister’s health or about his US trip.

Govt asks banks to table capital raising plans

After giving fresh capital to public sector banks (PSBs), the government will now seek details of their fund raising plan for the next financial year to ensure that the exchequer is not burdened with additional capital infusion, as has been done this year.

Infosys shares end nearly 3% higher on buyback

Shares of Infosys Monday rose nearly 3 per cent after the company approved a Rs 8,260-crore share buyback and also raised its revenue growth forecast.

 The scrip gained 2.52 per cent to end at Rs 700.90 on the BSE. Intra-day, it jumped 3.70 per cent to Rs 709.

  On the NSE, Infosys shares went up by 2.60 per cent to close at Rs 701.30.

  In terms of equity volume, 19.01 lakh shares of the company were traded on the BSE and over one crore shares changed hands on the NSE during the day.

AAP MP Sanjay Singh moves SC seeking review of Rafale verdict

Aam Aadmi Party (AAP) lawmaker Sanjay Singh on Monday moved the Supreme Court, seeking review of the verdict by which several pleas challenging the deal for procurement of Rafale fighter jets were dismissed. A bench headed by Chief Justice Ranjan Gogoi, on December 14, had dismissed as many as four petitions challenging the deal and had said that there was no occasion to "really doubt the decision making process", warranting setting aside of the contract.

Govt mulls credit guarantee, interest subsidy on loans for electronic manufacturers

The government is considering credit guarantee for term loans of up to Rs 100 crore as well as interest subsidy on loans up to Rs 1,000 crore for electronic manufacturing companies under the new policy in works.

According to official sources, the Ministry of Electronics and IT has proposed "credit guarantee fund" (CGF) scheme and "interest subvention scheme" (ISS) to boost electronics manufacturing ecosystem in the country under new National Policy on Electronics in works.

Arya named USOF head after BharatNet fiasco

Ansuli Arya has been appointed as the new administrator of Universal Service Obligation Fund (USOF) that looks after the funding part of the government telecom projects, a move largely seen as an action by the PMO after the BharatNet project faced delays and poor implementation.

Arya, a 1989 batch IAS officer from the Bihar cadre replaces the current incumbent Sanjay Singh.

Automakers staring at production stoppage due to curbs on steel imports: Siam

Automobile industry body SIAM Monday said vehicle manufacturers are staring at production stoppage if there is no resolution of the issues over restrictions imposed on domestic manufacturers using imported steel. Last month, the government had extended the deadline for automobile makers to use Bureau of Indian Standards (BIS) certified locally produced high-grade steel till February.

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