Plan and Policy

Plan & Policy

Not just Brady House, NiMo got loans from foreign branches too

Nirav Modi group’s exposure was not limited to only PNB’s Brady House branch in Mumbai, as the firms had availed loan facility from its Hong Kong and Dubai branches too, according to an internal report of the bank submitted to investigative agencies. 

As per the report, Nirav Modi (in pic) group companies Firestar Diamond Ltd Hong Kong and Firestar Diamond FZE Dubai availed some credit facilities from the Hong Kong and Dubai branches of Punjab National Bank (PNB) as well. 

End oil imports from Iran by Nov 4, US to India

The US has told India and other countries to cut oil imports from Iran to “zero” by November 4 or face sanctions, making it clear that there would be no waivers to anyone.

Iran is India’s third-largest oil supplier behind Iraq and Saudi Arabia. Iran supplied 18.4 million tonnes of crude oil between April 2017 and January 2018 (first 10 months of 2017-18 financial year).

UDAN scheme: Foreign airlines will get subsidy

Foreign carriers such as Singapore International Airlines (SIA), Thai Airways and Malaysian Airlines would be entitled for subsidy from India if they are selected to operate cheaper flights between India and Asean nations under the international UDAN scheme.

The Centre has launched a regional connectivity scheme (RCS) named UDAN to help common man in smaller towns to fly. It provides a viability gap support to airlines for making these flights cheaper. Buoyed by its success, it now plans a similar scheme for connecting Indian cities with those in Asean block.

Cong panel to study Soz’s book

Jammu and Kashmir unit of the Congress has constituted a three-member committee to study veteran party leader Saifuddin Soz’s book, Kashmir: Glimpses of History and the Story of Struggle. Prior to the release of the book, Soz had stoked a controversy by backing former Pakistan president Pervez Musharraf’s assessment that Kashmiris will opt for independence if given a chance. Reportedly, his book also endorses the view. The panel comprising senior party leaders Amrit Malhotra, S Gurmukh Singh and GN Mir Laszan, will submit its view point to the party soon.

More women in work force to boost India’s GDP: McKinsey

India has one of the largest opportunities in the world to boost GDP by increasing women’s participation in the labour force, which presently stands at “only 25 per cent”, a report by McKinsey World Institute said.

The contribution of women to India’s GDP is 18 per cent, one of the lowest proportions in the world, said the report, ‘The Power of Parity: Advancing Women’s Equality in Asia Pacific’, released by McKinsey on Tuesday.

Ram Temple: VHP itching to restart stir, Yogi urges patience

With the Vishwa Hindu Parishad indicating that it may restart its movement for Ram Temple in Ayodhya, saying the organisation will consult saints on the “future course of action” if the Supreme Court does not give its verdict on the issue in next three to four months, Uttar Pradesh chief minister Yogi Adityanath on Monday urged the Hindu seers to show patience on the issue since the government was bound by democratic norms.

HC stays cutting of trees in Delhi

How can the national Capital afford the felling of over 16,500 trees for a housing project, the Delhi High Court asked on Monday ordering an interim stay on the chopping of trees here till July 4.

Taking note of the views expressed by a vacation bench of Justices Vinod Goel and Rekha Palli which said, “We could understand if it was a road-widening work which is inevitable”, the National Buildings Construction Corporation (NBCC), tasked with redeveloping half a dozen south Delhi colonies, agreed not to cut any tree.

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