Railways Act May Include A Provision To Check Online Ticketing Frauds, Say Sources

September 18, 2018

Against the backdrop of online ticketing scams, railways is mulling an amendment to the Railways Act, 1989 to include a provision of penalising those committing e-ticketing frauds, sources said. The proposed amendment has suggested a fine of more than Rs. two lakh for the offence, the sources said. The proposal, however, has not suggested an increase in the three year jail term for those convicted. “Cases of such frauds have…

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PM Modi gifts projects worth Rs 550 crore to Varanasi

September 18, 2018

VARANASI: Prime Minister Narendra Modi on Tuesday launched various development projects worth over Rs 550 crore in his Lok Sabha constituency and noted that the landscape of the city has changed for good in the last four years while it was at the mercy of the Lord under previous governments. The projects inaugurated include Integrated Power Development Scheme (IPDS) for Puraani Kashi and Atal Incubation Centre at Banaras Hindu University…

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AirAsia India Offers Flight Tickets From Rs. 500. Details Here

September 18, 2018

AirAsia India said that it is offering flight tickets from Rs. 500 in a special offer on all its routes to 21 domestic destinations. AirAsia’s offer on flight tickets begins from Monday, the airline was quoted as saying in a report by news agency Indo-Asian News Service (IANS). AirAsia’s offer on flight tickets is valid till Sunday. The travel period to avail AirAsia’s flight tickets is from September 17 to…

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What Happens to Your PPF and NSC Investments When You Become an NRI?

September 18, 2018

Public Provident Funds (PPF) are one of the most attractive small savings schemes among Indian residents due to the safety of investment factor accompanied by the EEE (exempt-exempt-exempt) tax benefits that it comes with. The National Savings Scheme is also another such savings instrument which gives the same interest rate benefits but differs from PPF in terms of maturity period and tax benefits. While the PPF has the maturity period…

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SBI to recover dues worth over Rs 3,900 crore by selling 8 NPAs

September 18, 2018

The country’s largest lender State Bank of India will sell eight non-performing assets to recover dues worth over Rs 3,900 crore and has invited bids from asset reconstruction companies (ARCs) and financial institutions (FIs). “In terms of the bank’s revised policy on sale of financial assets in line with the regulatory guidelines, we place these accounts for sale to ARCs/banks/NBFCs/FIs, on the terms and conditions indicated,” the bank said in…

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How does merging bad banks with good ones help

September 18, 2018

NEW DELHI: The government on Monday said it will merge three state-run lenders–Bank of Baroda, Vijaya Bank and Dena Bank to create India’s third largest bank. Last year, five associate banks of SBI and Bharatiya Mahila Bank were merged with State Bank of India to catapult the country’s largest lender to among the top 50 banks in the world. The government says the new entity will see “substantial rise in customer…

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No Whatsapp from 10pm to 6am, says ECI

September 18, 2018

HYDERABAD: Contestants should not disturb the electorate with SMSes or messages on Whatsapp from 10pm to 6am. This is as per the Election Commission of India’s letter written to chief electoral offices of all states and union territories.  In the instructions on prevention of defacement of open spaces and public property, ECI secretary N T Bhutia pointed out that loudspeakers are prohibited for election campaigns between 10pm and 6am. The…

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