Mumbai/New Delhi: Even as the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) stepped up their investigation, conducting searches across Nirav Modi’s premises, and the Central Vigilance Commission (CVC) swung into action, it is now evident that several warnings issued by the Reserve Bank of India (RBI) about the possibility of such banking frauds were ignored by bank managements.

New Delhi: Enthused by investors’ response to its toll-operate-transfer (TOT) model, aimed at monetizing India’s publicly funded highways, state-run National Highways Authority of India (NHAI) is planning to auction toll collection for road length totalling around 1,720km. The auction is expected to fetch the government around Rs15,000 crore, said a person aware of the development requesting anonymity.

New Delhi: In the past 18 months, Reliance Jio Infocomm Ltd has triggered a bloody consolidation in the telecom sector, forcing incumbents to either match Reliance Jio’s offers or exit the market completely.

Among the last ones to exit the market will be Aircel Ltd, which, according to a report in The Economic Times, plans to file for bankruptcy at the National Company Law Tribunal (NCLT).

Nasscom on Monday launched a platform for skill development in eight varied technologies, starting with artificial intelligence (AI), for creating skills for future jobs in the country. The platform — FutureSkills — was unveiled by Prime Minister Narendra Modi via video conference during the inaugural session of the World Congress on Information Technology (WCIT)-2018. Besides AI, the other technologies in focus will be virtual reality, robotic process automation, internet of things, big data analytics, 3D printing, cloud computing, social and mobile.

Volvo Cars has launched its first ever three-cylinder Drive-E engine in the XC40, which is the smallest SUV on offer from the Swedish brand. The new engine was developed in-house based on the modular design of Volvo's four-cylinder Drive-E engines. The new 1.5-litre, three-cylinder, direct-injection petrol engine with a T3 badge will be paired with a six-speed transmission with an optional eight-speed automatic transmission that will follow next year.

MUMBAI: Calling for a bottom-up approach and not a top-down policy as of now, industry leaders have called for more and more engagement with citizens while designing and developing smart cities.

While underlining that each smart city is unique, L&T Construction chief marketing officer Joy Rajan Cheruvathoor argued that "each smart city is unique and a cookie cutter approach does not work to design them. The best way forward to achieve this is to engage the citizens better."

US President's son Donald Trump Jr, who is in India on a business trip, will hold a closed-door meeting with top industrialists in the national capital today.

The luncheon meeting at Birla House will be hosted by Congress leader Milind Deora and business leaders Deepak Parekh and Shobhana Bhartiya, sources said.

Deloitte Touche Tohmatsu India LLP, the auditor to Nirav Modi’s holding firm Firestar International Pvt Ltd (FIPL), has sought more information from the company after it came to light that Modi companies had defrauded Punjab National Bank of Rs 114 billion.

According to a source close to the development, Deloitte was the auditor to FIPL for two years and signed off the accounts for financial years ended March 2016 and March 2017.

The government should consider privatising public sector banks (PSBs) as over Rs 2.6 lakh crore capital infusion in the past eleven years has had limited impact in improving their health, and the move would also reduce drain on the exchequer, industry body Ficci said today. The suggestion comes in the backdrop of the $1.77 billion (about Rs 11,400 crore) scam in Punjab National Bank involving billionaire jeweller Nirav Modi.

Idea Cellular has introduced a new pack that offers 1GB data and unlimited calls at Rs 109 to combat the tariff war started by Reliance and later joined by other telcos including Airtel and Vodafone among others. The new Idea Rs 109 recharge pack comes with a validity of 14 days and benefits the customer with 1GB of data, unlimited local, national, and roaming calls, along with 100 SMSes per day.

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