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SC allows govt to link Aadhaar card with PDS and LPG subsidies

SC allows govt to link Aadhaar card with PDS and LPG subsidies

NEW DELHI: The Supreme Court on Tuesday allowed the Centre to link Aadhaar card with PDS and LPG subsidies given to people.

The court in an interim order, however, restrained the Centre from linking the Aadhaar card with any other social welfare scheme.

ICICI Bank targets rural home buyers

ICICI Bank targets rural home buyers

Mumbai, Aug. 10: ICICI Bank is offering home loans to villagers - up to Rs 15 lakh - at its base rate.

The bank's base rate, or the minimum lending rate, stands at 9.70 per cent.

In a statement, the bank said applicants from rural areas, including women and weaker sections, can get the home loan at the special rate. The loans can be taken to buy, build or renovate a home.

SBI Q1 profit rises 10.2% to Rs3,692 crore

SBI Q1 profit rises 10.2% to Rs3,692 crore

Mumbai: State Bank of India (SBI) on Tuesday beat market expectations with a 10.2% rise in net profit on higher other income and a fall in provisions.

Net profit for the quarter ended June was at Rs.3,692 crore compared with Rs.3,349 crore in the year-ago quarter. A Bloomberg poll of 28 analysts expected the bank to post net profit of Rs.3,408.70 crore for the first quarter in review.

Air India’s US pre-clearance plan a ‘non-starter’

Air India’s US pre-clearance plan a ‘non-starter’

Mumbai: The government has declined to immediately allow state-run Air India Ltd to offer US-bound passengers immigration pre-clearance facility in India, a service that rival Etihad Airways PJSC offers from its Abu Dhabi airport hub.

Through pre-clearance, immigration, customs and other related inspections of international air passengers performed on arrival in the US can be completed before departure at a foreign airport.

Micromax Makes its First International Investment in MiMedia

Micromax Makes its First International Investment in MiMedia

Indian handset manufacturer, Micromax has made an undisclosed amount of investment in US-based startup MiMedia which offers online back up and cloud storage services. MiMedia enables consumers to access all of their personal content (photos, videos, music, files), on any device, whenever they want. Excluding this round, MiMedia had raised $5.4 million in funding across 3 rounds.

“While we are not disclosing the terms of the deal, the strategic investment in MiMedia represents Micromax’s first outside of India.

Government accuses RIL of armtwisting over natural gas pricing norms

Government accuses RIL of armtwisting over natural gas pricing norms

NEW DELHI: The Narendra Modi government has accused Reliance Industries of armtwisting it into implementing the January 2014 guidelines on natural gas pricing by slapping a notice declaring its intention to pursue international arbitration to break the deadlock on the issue.

In fresh submissions filed in the Supreme Court on Monday, the government suggested that the issue of gas pricing was not subject to international arbitration as it was an economic decision, which could not even be scrutinised by the domestic courts.

Google CEO Sundar Pichai is a strategist who loves challenges, say former schoolmates

Google CEO Sundar Pichai is a strategist who loves challenges, say former schoolmates

The biggest news of the day is Sundar Pichai being appointed as CEO of Google, one of the top technology companies in the world. Sundar Pichai did his schooling in Chennai and his alma mater Vanavani Matriculation Higher Secondary School couldn’t be prouder of him.

During the school assembly at Vanavani today, the proud principal Kaveri Padmanabhan shared Sundar Pichai’s stellar achievement with the students.

Infosys, TCS outperform in a subdued market

Infosys, TCS outperform in a subdued market

Markets continue to trade in a narrow range as losses in financials and auto shares offset gains in the technology pack. Meanwhile, release of the macroeconomic numbers CPI and IIP due to be released tomorrow coupled with weakness in Rupee after China devalued yuan by nearly 2% hurt the sentiments.

At 10:40 am, the Sensex is down 10 points at 28,092 and the Nifty has slipped 5 points to trade at 8,521.

Maruti to run out of capacity next year

Maruti to run out of capacity next year

Delays in getting necessary approvals for a new green field manufacturing plant in Gujarat will likely cost car market leader Maruti Suzuki the next year.

The Delhi-based company, which has maintained its tight grip on market shares and is eyeing agressive growth, might exhaust its production capacity.

Nasscom Foundation announces scheme for social innovators

Nasscom Foundation announces scheme for social innovators

Nasscom Foundation on Monday said it had partnered with Genpact and Mphasis to provide a seed grant of Rs 6000,000 to early stage enterprises that focus on creating sustained social impact.

The forum would award catalytic grants to early stage enterprises with an impact focus that address gaps in skilling for employment, primary and secondary education, health care, accessibility, women's safety and other relevant areas, a statement added. The grant money for the winning projects would be complimented with industry-led mentoring support, it said.

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