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Could Maggi Be Banned Again? Ash Content Beyond Permissible Limits Found

29Nov By Press Trust of IndiaNo Comments

News

Could Maggi Be Banned Again? Ash Content Beyond Permissible Limits Found

The district administration of Shahjahanpur, UP, has slapped a fine on Nestle India and its distributors after its popular noodles brand Maggi allegedly failed to pass the lab test, even as the FMCG major maintained that "its a case of application of incorrect standards". The district administration had imposed a fine of Rs 45 lakh on Nestle, Rs 15 lakh on its three distributors and Rs 11 lakh on its two sellers. According to the district authorities, it had collected the samples last year in November and sent them for lab test, which had found ash content above the permissible limits of human consumption. Questioning the lab findings, Nestle India said it has not received the order yet and would file an appeal urgently once it receive the order. "While we have not received the o...

Economic Growth Likely To Pick Up In Q2, Say Experts

28Nov By Press Trust of IndiaNo Comments

ANALYSIS

Economic Growth Likely To Pick Up In Q2, Say Experts

Indias economic growth is likely to show a significant improvement for the September quarter of the current fiscal over the previous three months, when the GDP slipped to a 3-year low of 5.7 per cent, say experts. The Central Statistics Office (CSO) is scheduled to come out on Thursday with the estimates of the second quarter gross domestic product (GDP). The data will also capture the impact of the Goods and Service Tax (GST), which was implemented from July 1. Based on a survey of economists, industry body Ficci expects that the economic growth would rebound to 6.2 per cent in the second quarter, a significant improvement over the April-June numbers. "The slowdown in the economy due to demonetisation and the adjustment impact of GST implementation seems to be bottoming out and ...

SoftBank In Talks To Invest $500M In Paytm Mall

28Nov By AdityaNo Comments

FUNDING

SoftBank In Talks To Invest $500M In Paytm Mall

After investing in Indian e-commerce majors Flipkart and Snapdeal, Japanese multinational conglomerate SoftBank Group is now set to invest in another Indian e-commerce space Paytm Mall. It is estimated that Paytm Mall may receive a funding around $500-600 millions in a fresh round. As per the reports, SoftBank will put around $300 million into the e-commerce venture operated by Vijay Shekhar Sharma's Paytm E-commerce Pvt Ltd. Paytm Mall has already received funding from Chinese e-tailing company Alibaba, which now holds a majority stake in the company. Also, SoftBank is one of the investors of One97 Communications, the parent company of Paytm wallet and holds around 20 percent. The telecom conglomerate already holds majority stakes in Snapdeal, which it tried to merge with Flipkar...

HomeLane Acquires Online Furniture Marketplace Capricoast For $13.8M

20Nov By AnkitaNo Comments

ACQUISITION

HomeLane Acquires Online Furniture Marketplace Capricoast For $13.8M

Bangalore based online furniture and home furnishing startup HomeLane has recently acquired modular home furniture marketplace Capricoast for $13.8 million. This acquisition will grant HomeLane to leverage tech stack of Capricoast to provide customers a more streamlined and better home designing experience. As part of the acquisition deal, the entire team of Capricoast comprising of 120 members will become part of HomeLane while its founder and CEO Jawad Ayaz will be joining the board of directors. Talking about the move, HomeLane co-founder and CEO Srikanth Iyer said, “This is a coming together of two big players in home design with complementary strengths and expertise. The Capricoast team brings with them a powerful technology back-end that will further strengthen our product offeri...

20Nov By Press Trust of IndiaNo Comments

INDIA

Moody’s Raised India’s Rating Based Mainly On UPA Govts Work: P Chidambaram

Former Union finance minister P Chidambaram today claimed that US credit rating agency Moody's upgraded India's ranking based mainly on the work done by the previous UPA government. Moody's had on Friday upgraded India's sovereign credit rating by a notch to Baa2 with a stable outlook, citing improved growth prospects driven by economic and institutional reforms. "The ranking improved not because what happened yesterday but it improved based on what happened over seven or eight years. "I am happy that Moody's has raised India's ranking ... A major contribution to it was made by the UPA government and the other part of the contribution was by the present government," he told reporters here. The senior Congress leader took a swipe at the government for writing a letter to Moody's fiv...

15Nov By Press Trust of IndiaNo Comments

INDIA

Google Honours India’s First Woman Advocate Cornelia Sorabji

[dropcap]S[/dropcap]earch engine giant Google today paid tribute to Cornelia Sorabji, the first Indian woman student in Britain and India's first woman lawyer, on her 151st birth anniversary with a special doodle. Sorabji, born in Maharashtras Nashik in 1866, is also recognised as the first woman graduate of Bombay University. Designed by illustrator Jasjyot Singh Hans, the Google homepage shows a white-wigged Sorabji, dressed in a lawyers black robe, in front of the Allahabad High Court. Sorabji, who was the first woman advocate to join the Allahabad High Court bar, fought tirelessly for the rights of purdahnashins -- veiled women forbidden by social custom from communicating with men outside their families. "On what would have been her 151st birthday, we celebrate Cornelia...

India First To Partner With Facebook On Disaster Response

9Nov By Press Trust of IndiaNo Comments

News

India First To Partner With Facebook On Disaster Response

India is the first country to partner with social networking site Facebook on disaster response, Union minister Kiren Rijiju said today. He invited other technology companies to create tailored solutions for disaster-related challenges. Addressing an event on disaster management, Rijiju said technology can be leveraged in providing quick response and information to people in times of need. Rijiju said the world is moving towards partnerships, where people are proactively partnering with the government in responding to disasters. "This partnership is a benchmark and first of its kind. We are the first government to partner with Facebook on disaster response," he was quoted as saying in a press release issued by the Union home ministry. Rijiju, the Minister of State for Home Affairs...

8Nov By Press Trust of IndiaNo Comments

INDIA

India More Attracted To Biz Than WB Ranking Index Suggests

Observing that the recent increase in Indias ease of doing business ranking by the World Bank was long overdue, a top Indian American economist today said the country as a place for business is a lot more attractive than its ranking suggests. Investors usually go where the environment is the best and not where the World Bank collects its data, Arvind Panagariya, professor at the prestigious Columbia University, told PTI in an interview. "Our best investment destinations do significantly better than the latter," said the former vice chairman of NITI Aayog. "I have often said that India as a place to do business is a lot more attractive than the World Bank ranking suggests. This is because the bank collects its data in Delhi and Mumbai, not in the states with the best business environ...

4Nov By Press Trust of IndiaNo Comments

INDIA

Govt Woos Investors To Tap India’s Agri Sector

Agriculture Minister Radha Mohan Singh today called upon investors to leverage opportunities in the country's farm, dairy, poultry and fisheries sectors. The government is implementing various schemes to promote these sectors in order to double farmer's income by 2022, he said at the World Food India 2017 event here. "...the world is eager to study and adapt our growth strategy," he was quoted as saying in an official statement. He added that India has moved ahead from a country facing food shortages to becoming a food exporter. Addressed a conference on Fruits & Vegetables, Dairy, Poultry & Fisheries - Leveraging the Diverse India Opportunity at #WorldFoodIndia pic.twitter.com/DycJD2Jbpl — Radha Mohan Singh (@RadhamohanBJP) November 4, 2017 He said there are inve...

Western Railways RPF Launches App For Women’s Safety

3Nov By PriyankaNo Comments

INDIA

Western Railways RPF Launches App For Women’s Safety

The Railway Protection Force (RPF) of Western Railway (WR) has developed and introduced a mobile application for the safety of women commuters, commuting between the suburbs of Churchgate and Virar railway stations. The free app, Eyewatch Railways, launched last month, was developed by RPF by Western Railway in partnership with Eyewatch Technologies Pvt Ltd. It can be downloaded on an Android phone from Google Play Store and on iPhone from Appstore, said Chief PRO by WR Ravinder Bhakar. "This app has an alarm button, by tapping the button or by pressing the power button four times, Eyewatch Railways notifies the RPF control and notifies the user's call guardians via SMS. It also has a location update feature that allows the RPF Control Center to view the commuters at constantly updated...

Mobile Wallets Will Become Strong Players: Paytm Official

27Oct By Press Trust of IndiaNo Comments

ANALYSIS

Mobile Wallets Will Become Strong Players: Paytm Official

Mobile wallets will become strong players in the financial ecosystem as the RBI guidelines on prepaid instruments will allow more features like unlimited transfer of funds between a bank account and a wallet, a top official of Paytm Payments Bank said. Paytm Payments Bank MD-CEO Renu Satti said the RBI guidelines released this month will enable mobile wallets to gain access to more functionalities like unlimited transfer of funds between a bank account and a wallet and higher limit of up to Rs 1 lakh for money transfer to beneficiary accounts. She added that as part of Paytm Payments Bank, customers get the convenience of wallets and can earn interest on their deposits by transferring money from the wallet to their payments bank account. "This will further strengthen the value propo...

27Oct By No Comments

BLOGS

The ‘Rule’ Of Continental Food In India

The British ruled India for over 200 years. So goes the story. Some do argue that they took a 100 years to conquer and ruled another 100 before they were sent back. But, that is a debate for another day. During this tenure they did influence many aspects in India. Education, medical services, fashion and food are probably some of the very obvious ones. Their influence on food is a definite yes as continental food is a huge contribution by the British to Indian culinary. Some stories do indicate that continental food was introduced to the then royal families of India by the British as a token of friendship. It is said that continental food percolated to the commoners through the kitchens of Indian royals. There is no way to ratify any such observations. The popularity and accep...