Department Financial News

Central Vigilance Commission (CVC) has flagged 34 major cases of non-compliance by government departments, which diluted its advice of acting against «corrupt» officials. In some cases, these «corrupt» officials were either exonerated or punishment against them were diluted by the departments concerned, according to the CVC's annual report 2023. Of the total, a highest of seven cases involved are under the coal ministry, five in the State Bank of India (SBI), four in the IDBI Bank, three under the steel ministry and two each under the power ministry and NBCC (India) Limited, it said. One such instance each was in the Delhi Jal Board (DJB), the Government of National Capital Territory of Delhi (GNCTD), the Ministry of Railways, Airports Authority of India (AAI), Central Board of Indirect Taxes and Customs (CBIC) and Council of Scientific & Industrial Research (CSIR) among others, according to the report.

single litigant" for the courts and it should come with a unified stand after taking on board all the departments concerned, the Supreme Court has said. The observation by a bench headed by Justice BR Gavai came while noting that there appeared to be some inter-se disputes between the forest and revenue departments of the Mizoram government in a matter pertaining to a May 1965 notification. The apex court noted a single judge of the Gauhati High Court's Aizawl bench, in January 2021, held the notification issued in the Assam Gazette dated May 19, 1965, «notifying the order passed by the chief executive officer, Mizo District Council, declaring forests located within half a mile on either side of the river Tuirial and 15 other rivers to be the Council Reserved Forest, is not sustainable in law». It said the state had preferred an appeal before a division bench of the high court but on November 9, 2022, it sought liberty to withdraw the appeal with the liberty to file a fresh one, if required.

The Conference Board issues its monthly index of U.S. consumer confidence Tuesday

deal wins are on the cards with the US Federal Reserve reducing interest rates. The country's key IT services providers globally signed at least 33 deals in July and August, data sourced by ET showed. Tata Consultancy Services alone has announced four deal wins including Ireland-headquartered fashion retailer Primark, Rolls-Royce, Sydney Marathon, and most recently McDonald's Philippines in the first two months of the second quarter. Its closest rival Infosys-which signed the second highest number (three) of deals in July after Cognizant-has closed agreements with Sector Alarm, Delaware Department of Labor, TDC Net, ServiceNow, Metro Bank, and Finnish Postal service provider Posti group.

The Illinois Department of Corrections has spent September moving hundreds of inmates from Stateville Correctional Center in suburban Chicago in preparation for replacing the century-old lockup

Bihar Chief Minister Nitish Kumar on Sunday wrote to Prime Minister Narendra Modi, requesting him to introduce a Vande Bharat train between Ayodhya and Sitamarhi so that pilgrims get better rail connectivity between the two holy towns. The state government has been developing Punaura Dham Janki Mandir, a Hindu pilgrimage site, in Sitamarhi district that is considered the birthplace of the goddess Sita. «Better rail connectivity between Ayodhya and Sitamarhi will make things easy for the pilgrims who visit both temples (Ram Mandir and Punaura Dham Janki Mandir) in large numbers every day. The Centre recently introduced several Vande Bharat trains from different cities in Bihar to other places in the country. »I extend my gratitude to the PM for introducing these Vande Bharat trains. I request you for the introduction of another Vande Bharat train between Ayodhya and Sitamarhi. The Ministry of Railways should be duly instructed in this regard," Kumar wrote in his letter to the PM.

NBFCs has improved since 2022 after the regulators adopted scale based regulations- a framework linked to the size, activity and risk levels, a study by RBI economists said. But it has also warned that they need to be watchful of cyber-security and climate risks and proactively identify and manage risks, it said. Gross NPAs ratio which ranged from 4.4 percent to 10.6 percent in December 2021 declined o 2.4 to 6.3 percent by December 2023. Scale based regulations were implemented from October 2022, the study found. «There has been a consistent improvement in the bottom line of the sector, as gauged by the profitability indicators, i.e., return on assets (RoA) and return on equity by Abhyuday Harsh, Rajnish Kumar Chandra, Nandini Jayakumar and Brijesh P from the central bank's department of economic and policy Research.» The sector remains resilient under the SBR framework. At end-December 2023, the sector continued to exhibit double-digit growth in credit, adequate capital and low delinquency ratio" The views expressed in the study published in the Reserve Bank's latest monthly bulletin are not that of the central bank.

West Bengal government and Centre over release of water from reservoirs of Damodar Valley Corporation, state Power secretary Santanu Basu has stepped down from the board of DVC, officials said on Sunday. The Chief Engineer, Irrigation and Waterways of West Bengal has also quit the Damodar Valley Reservoir Regulation Committee (DVRRC), they said. Basu in an email to DVC chairman on September 21 said, «In view of the unprecedented and uncontrolled release of water by the DVC from its dam systems, leading to widespread inundation causing immense sufferings to the people in vast areas of the state, I do hereby tender my resignation as the member of state from the board of DVC.»

Deloitte South Asia CEO Romal Shetty has said. Shetty, who is the youngest chief executive of a Big Four accounting and consultancy firm in India, said inflation is reasonably under control, there has been a pick-up in rural demand and vehicle sales are improving. «We believe that we would be in the 7-7.1 per cent range in terms of the growth (this fiscal year). You have got the headwinds, the tailwinds… But the fact is, still India is in a better position, in spite of whatever is happening globally but we can't say we're decoupled from the world,» he said, adding that the geopolitical crisis in the Middle East and Ukraine and the slowdown in the western world will impact GDP growth. According to Deloitte projections, growth is likely to be 6.7 per cent in the next fiscal year (2025-26). The Indian economy grew 8.2 per cent in the previous fiscal year — 2023-24.

Federal agents boarded a vessel on Saturday managed by the same company as a cargo ship that caused the deadly Baltimore bridge collapse, the FBI confirmed.

Indian economy recording 7 per cent growth rate for the fourth consecutive year. The budget for the next financial year would focus on reforms to be pushed to further accelerate growth momentum and measures to generate jobs and boost demand in the economy. "Pre-budget meetings chaired by Secretary (Expenditure) shall commence in the second week of October 2024. Financial Advisers shall ensure that necessary details...are properly entered in UBIS (Union Budget Information System) before/latest by October 7, 2024," Budget circular 2025-26 issued by the Department of Economic Affairs said. Hard copies of the data in the specified formats should be submitted for cross-verification, it said.

The FBI has confirmed that federal agents have boarded a vessel managed by the same company as a cargo ship that caused the deadly Baltimore bridge collapse

Subscribe to enjoy similar stories. The unnamed narrator of Geetanjali Shree’s novel Our City That Year (recently translated by Daisy Rockwell from the original Hindi, Hamara Sheher Us Baras, 1998) tells us the story of three young people—writer Shruti, her sociologist husband Hanif and their friend/landlord Sharad, who is also Hanif’s colleague—struggling to respond to communal violence in their unnamed city. The book’s fourth principal character is Daddu, Sharad’s retired father, a genteel, progressive, profoundly moral figure.

manufacturing capacity for building on existing clean energy cooperation between the two nations, according to the White House. The announcement on Saturday came after the meeting of Prime Minister Narendra Modi and US President Joe Biden at Greenville, Delaware. Prime Minister Modi is in the US on a three-day visit. To launch the partnership for establishing a «shared, resilient, and cutting-edge techno-industrial base» centred on innovative clean energy manufacturing techniques, the US and India are «working to unlock USD 1 billion in new multilateral finance through the International Bank for Reconstruction and Development (IBRD) for projects, including catalysing India's domestic clean energy supply chain buildout», the White House said in a statement.

medical equipment and facilities, and also offered technical cooperation. Addressing the Quad leaders' Cancer Moonshot event in Wilmington, Delaware, Kishida said that such «endeavours will continue going forward.» «Regarding our support for measures against cancers in the Indo-Pacific region, Japan has offered support such as the deployment of equipment and technical cooperation, or support through international organisations and initiatives,» the Japanese PM said in his remarks.

Retired NFL quarterback Brett Favre is scheduled to appear before a congressional committee examining how states are falling short on using welfare to help families in need

A federal judge has dismissed a lawsuit that sought to protect dolphins along Mississippi's coast from harm by a spillway used for flood control

IIT Hyderabad (IIT-H), driverless shuttles glide across the campus, silently showcasing India's strides in AI innovation. Funded by the Department of Science and Technology, TIHAN-Technology Innovation Hub on Autonomous Innovation- is part of a homegrown initiative launched in 2020 by students and faculty across AI, Electrical Engineering, Civil Engineering, and Computer Science departments. «We wanted to bring AI to life for our students,» says Ganesh Ghalme, head of the Department of Artificial Intelligence at IIT-H.

Ganga. What was noteworthy was not the fact that unlike the more hapless victims sacrificed to the unfeeling river goddesses and gods each year, this quotidian event only made headlines because he was a senior bureaucrat. Instead, his death should bring to our attention how far the quality of money strains the value of life. Aditya Vardhan Singh, deputy director of UP health department, drowned because he was caught in the vice of a current. Three friends reportedly tried to coax divers to rescue him. They demanded ₹10k. Not having ready cash available, one of Singh's friends attempted a UPI transfer. But by the time this was completed, the struggling victim disappeared. In this instance, an unwillingness to extend aid resulted in the most extreme rejection of a debt obligation, doubly unfortunate because it also denies that we are all debtors and creditors simultaneously. Not just in the act of giving and receiving favours or promises from acquaintances and strangers, but also in the daily act of buying and selling goods and services to continue with life.

Atishi on Saturday took oath as the new chief minister of Delhi following Arvind Kejriwal's resignation. As per the recent announcement, Atishi will head the 13 existing departments (that she had, earlier) including Education, Finance, Power, Water. AAP leader and Cabinet minister Saurabh Bharadwaj will take charge of eight departments including Health, Urban Development and Social Welfare. Minister Gopal Rai will have three departments including Environment.

Bangladesh's Foreign Adviser Touhid Hossain on Saturday said that Chief Adviser Muhammad Yunus will not be meeting with Indian Prime Minister Narendra Modi on the sidelines of the UN General Assembly in New York, according to media reports. Hossain, former foreign secretary of Bangladesh, said he would hold a bilateral meeting with India's External Affairs Minister S Jaishankar to advance the relationship between the two neighbours, The Daily Star newspaper reported. At a press briefing at the foreign ministry in the afternoon, Hossain said, «Sorting out all issues, we want to further advance our relationship based on mutual respect and fairness.»