4
Tuesday
August 2020
12:05 AM IST
News Headlines
NIA arrests six more people and conducts searches at 6 places in Kerala gold smuggling case        Union Minister observes fast as BJP seeks to step up pressure on Ker govt in gold smuggling case        Kerala crosses 25,000 COVID-19 cases as 1,169 test positive        Heavy rains forecast in Kerala this week; Low pressure likely in Bay of Bengal        Shah tests +ve for COVID-19, admitted to Medanta hospital in Gurugram        International passengers with negative COVID-19 test report can skip institutional quarantine: Govt        High time Mehbooba Mufti is released, says Rahul Gandhi        Death toll in Punjab spurious liquor tragedy rises to 104        Trump Says Federal Government Should Seek Death Penalty For Boston Bomber        Khamenei''s top aide praises Turkey''s Hagia Sophia move        IPL GC Meet: Final on Nov 10, Chinese sponsors intact, COVID replacements allowed        2nd ODI: Bairstow, Rashid shine in England''s 4-wicket win over Ireland        Kerala''s COVID-19 tally inching towards 25,000 mark, 1129 ccases, death toll climbs to 82        Kerala police SI dies of COVID-19; first from the force to succumb to the virus        If high command forgives rebels, I will welcome them back: Gehlot        Former SP leader and Rajya Sabha MP Amar Singh dies at 64        Wild fire: 200 homes evacuated in Southern California        Emirati nuclear plant successfully starts up first reactor        Ready to push for continued advancement of China-Nepal ties: Xi        Some 17,000 people hit streets of Berlin to protest COVID-19 measures        
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Business News
Govt mulls raising insurance cover on bank deposits to above Rs 1 lakh: FM
 
New Delhi: Finance Minister Nirmala Sitharman on Friday said the government will bring legislations on raising insurance cover on bank deposits from the current Rs 1 lakh and regulating multi-state cooperative banks.

These legislations will be brought during the Winter Session of Parliament starting coming Monday, the minister told reporters here.

These legislations assume significance in the wake of scam in the Punjab and Maharashtra Cooperative Bank affecting lakhs of customers who are facing difficulties in withdrawing their entire money due to restrictions imposed by the Reserve Bank of India.

At present, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and credit Guarantee Corporation.

The finance minister also said the government has no plans to cut spending on welfare schemes and will encourage all the departments of the Union government to spend entire funds provided in the Budget.

When asked about the stress in the telecom sector, Sitharaman said, "We want no company to shut their operations. We want everyone to flourish."

Two major telecom companies -- Vodafone Idia and Airtel -- have posted a combined quarterly loss of about Rs 74,000 crore as they were hit by statutory dues after a recent Supreme Court ruling.

The minister further said the Committee of Secretaries (CoS), appointed to deal with financial problems being faced by telecom companies, "has not taken final decision yet".

Days after the Supreme Court ordered telecom companies to pay as much as Rs 1.42 lakh crore in past statutory dues, the government had set up the CoS under the Cabinet Secretary to suggest measures to mitigate financial stress in the sector last month.


SBI SBI Q1 profit surges 81 pc to Rs 4,189 cr
19 income tax return filing deadline extended till Sept 30
Troubles abound, Boeing losses bloom to USD 2.4 billion in 2Q
Ashok Leyland’s latest range, ‘AVTR’, delivered to customers in Goa
Irani asks textiles sector to 'commercialise opportunities'
ICICI Bank Q1 net profit rises 36% to Rs 2,599 crore
Govt's endeavour has been to further simplify Direct Tax laws: Sitharaman
Vistara receives its first Airbus A321neo aircraft
Wipro to launch 5G edge services solutions suite
Rupee surges 15 paise to 74.59 against US dollar in early trade
BAJAJ Rahul Bajaj to step down as Bajaj Finance Chairman
Sebi comes out with guideline to verify upfront collection of margins
Steel Strips Wheels bags fresh orders worth about Rs 11.25 crore
Policybazaar to raise USD 150 million in third quarter
Long-term story of India, 2-wheeler industry remains intact: Hero MotoCorp
JC Penney cuts 1,000 jobs as it closes stores
Asian markets mostly higher on hopes for coronavirus vaccine
JioMeet sees 5 million downloands within days of launch: Ambani
Rupee slips 9 paise to 75.02 against USD
ICICI Bank to raise up to Rs 15,000 crore to bolster capital base
KERALA NEWS
Kerala crosses 25,000 COVID-19 cases as 1,169 test positive
 Thiruvananthapuram: Kerala on Sunday crossed the 25,000 mark in COVID-19 cases as 1,169 more people  
Heavy rains forecast in Kerala this week; Low pressure likely in Bay of Bengal
Kerala police SI dies of COVID-19; first from the force to succumb to the virus
Kerala reports 1,310 COVID-19 cases; 3 deaths takes toll to 73
INTERNATIONAL NEWS
Trump Says Federal Government Should Seek Death Penalty For Boston Bomber
 WASHINGTON: US President Donald Trump says the federal government must seek the death penalty for Bo
Khamenei''s top aide praises Turkey''s Hagia Sophia move
Wild fire: 200 homes evacuated in Southern California
Emirati nuclear plant successfully starts up first reactor
NATIONAL NEWS
Union Minister observes fast as BJP seeks to step up pressure on Ker govt in gold smuggling case
 New Delhi: Union Minister V Muraleedharan on Sunday observed a day-long fast at his residence here d
Shah tests +ve for COVID-19, admitted to Medanta hospital in Gurugram
International passengers with negative COVID-19 test report can skip institutional quarantine: Govt
High time Mehbooba Mufti is released, says Rahul Gandhi
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