Centre Fixes Norms For E-commerce Firms, Bars Them From Holding Exclusive Sales

New Delhi: The Centre on Wednesday took a slew of steps to keep e-commerce firms in check. Now e-commerce firms like Amazon have been barred from selling products of companies in which they have a stake. The Commerce and Industry ministry also barred them from entering into an agreement for the exclusive sale of products. “An entity having equity participation by e-commerce marketplace entity or its group companies, or having control on its inventory by e-commerce marketplace entity or its group companies, will not be permitted to sell its products on the platform run by such…

India’s First Engine-less Semi-High Speed Train to be Flagged Off by PM Modi on Dec 29

New Delhi: Union Railway Minister Piyush Goyal announced the arrival of India’s first engine-less semi-high speed train – Train 18 – that has officially become the fastest train in India. Cruising at speed of 180 kilometres per hour during a trial run, the train is one of its kind. According to sources, the train will be flagged off by Prime Minister Narendra Modi on December 29 from his constituency Varanasi. The train will start from New Delhi station at 6 AM and is expected to reach Varanasi at 2 PM. The return journey…

RBI to Scale up Securities Purchase on Remaining Two OMO Auctions in December

Mumbai: The Reserve Bank of India (RBI) on Tuesday said on review of the evolving liquidity conditions, it has decided to scale up the amounts to be purchased in the remaining two OMO (Open Market Operation) auctions scheduled in December 2018 to Rs 15,000 each. “Consequently, the total injection of durable liquidity for the month of December 2018 would amount to Rs 500 billion (Rs 50,000 crore),” the Central bank said in a statement. The decision comes amid concerns of a liquidity crisis in the economy after the default by IL&FS…

Sensex Manages 6th Straight Rise as Rupee Goes up Sharply

Mumbai: Lower crude prices coupled with an inflow of foreign funds and a strong rupee buoyed the Indian equity market on Tuesday to log the 6th straight session of advances. Initially, the S&P BSE Sensex and NSE Nifty50 had a gap-down opening on the back of subdued global markets ahead of the US Federal Open Market Committee’s (FOMC) two-day meeting starting on Tuesday. The committee is expected to raise interest rates which have kept the sentiments tepid, analysts said. In addition, the Indian equity indices remained in the negative zone as…

Arun Jaitley Calls PM Narendra Modi, Virat Kohli Exceptional Players, Says Its Not Easy to Defeat Them

New Delhi: Union Finance Minister Arun Jaitley on Tuesday said that Prime Minister Narendra Modi and Indian cricket team captain Virat Kohli are “spectacular” players in their spheres and it is not easy to defeat them. His prediction came at a time when India will elect a new government next year and the national cricket team will go to England and Wales to play Cricket World Cup, kicking off near the same time next year. Speaking at an event, Jaitley said, “In both spheres, there are spectacular players — Virat Kohli and Narendra Modi. And it…