Fri, May 26, 2017 | updated 04:49 PM IST

India, ADB ink USD 100 million loan pact on Vennar sub-basin

Updated: Jul 14, 2016 17:38 IST      
India, ADB ink USD 100 million loan pact on Vennar sub-basin

New Delhi, July 14 (ANI): The Government of India and the Asian Development Bank (ADB) on Thursday signed a USD 100 million loan for 'Climate Adaptation in Vennar Subbasin of Cauvery Delta project' in Tamil Nadu

The aim of the loan agreement is to strengthen key irrigation and drainage system and improve water management in the Vennar sub-basin of the Cauvery delta in Tamil Nadu.

The financing will be used to strengthen embankments of six major irrigation water channels in the Vennar system and rehabilitate 13 irrigation pumping schemes.

"The Cauvery river basin is a critical source of water for agriculture, both within Tamil Nadu and neighbouring states. The vast majority of the delta's population is engaged in farming and fishing. The project aims to improve existing infrastructure and will provide flood protection and renewed access to irrigation," said Mr. Raj Kumar, Joint Secretary (Multilateral Institutions), Department of Economic Affairs, Ministry of Finance, who signed the agreement on behalf of the Government of India.

"The loan will support Tamil Nadu's water resources professionals to manage resources better, and with greater involvement of the stakeholders they service," said Mr. L. B. Sondjaja, Deputy Country Director of ADB's India Resident Mission, who signed the loan agreement for ADB.

"Communities will be involved in planning and delivery of water services. Flood forecasting and warning systems will be installed and a flood risks map drawn up to help communities respond more effectively to extreme events," he added.

A separate project agreement was signed by Mr. V. Shanmugam, Chief Engineer, Water Resources Department, on behalf of the State of Tamil Nadu.

The loan from ADB's ordinary capital resources has a 25-year term. The Water Resources Department of the State of Tamil Nadu is responsible for implementing the project, which is expected to be completed by December 2020.(ANI)

GST Bill unanimously approved in Tripura

Updated: May 26, 2017 15:15 IST     

Agartala (Tripura) [India], May 26 (ANI): On the concluding day of the three-day session of the Tripura Assembly on Thursday, the Left-ruled state approved the Goods and Services Tax (GST) Bill unanimously by voice vote.

Full Story >>

Sensex surpasses 31,000 mark, shoots by 255.17 points

Updated: May 26, 2017 14:54 IST     

New Delhi [India], May 26 (ANI): Achieving yet another milestone in just a few hours, the Sensex on Friday saw a significant surge, reaching a fresh all time high of 31,005.20, recording a rise by 255.17 points, with Nifty inching closer to the 9,600-mark.

Full Story >>

New Delhi [India], May 26 (ANI): The most economically developed states are not adequately adding to skill sets, which may result in severe shortages of skilled manpower in the coming years, according to an ASSOCHAM-Thought Arbitrage Paper.

Full Story >>

FICCI to set up StudyinIndia pavilion at NAFSA 2017

Updated: May 26, 2017 13:20 IST     

New Delhi [India], May 26 (ANI): The Federation of Indian Chambers of Commerce and Industry (FICCI), along with the Ministry of Commerce, Government of India and Service Export Promotion Council and in partnership with Education Promotion Society for India will be setting up a 'StudyinIndia' pavilion, leading a delegation of over 50 Indian higher education leaders to the 69th Annual NAFSA conference scheduled to take place from May 28 to June 2 2017, in Los Angeles, U.S.A.

Full Story >>

Atal Pension Yojana registers 53 lakh subscribers

Updated: May 26, 2017 12:36 IST     

New Delhi [India], May 26 (ANI): The subscriber base under the Atal Pension Yojana (APY) reached approximately 53 Lakhs. At present, 235 banks and the Postal Department are involved with the implementation of the scheme. Besides the branches of the banks and CBS-enabled offices of India Post, quite a few banks are sourcing subscribers through their internet banking portals in a paperless environment.

Full Story >>

New Delhi [India], May 26 (ANI): The Central Board of Direct Taxes (CBDT) on Friday issued a clarification on furnishing statements of financial transactions.

Full Story >>

New Delhi [India], May 26 (ANI): The market on Friday witnessed a surge in its trade with the Sensex and Nifty hitting an all time high of 30,862.63 and 9,534.75 respectively.

Full Story >>

New Delhi [India], May 26 (ANI-BusinessWire India): ITC Limited has won the prestigious Porter Prize 2017 award for 'Excellence in Corporate Governance and Integration' and for its exemplary contribution in 'Creating Shared Value'.

Full Story >>

New Delhi [India], May 26 (ANI): C-Zentrix, a Gartner Magic Quadrant for CCI 2016-recognised product company and a cloud-based advance communication management provider on Thursday announced the launch of two new products in its customer engagement solutions portfolio, 'TrixChat' and 'ZenBot'.

Full Story >>

nexGTv now available on Amazon's Fire TV Stick

Updated: May 26, 2017 08:10 IST     

New Delhi [India], May 26 (ANI): nexGTv, a subscription-led video entertainment app on Thursday made its big-screen debut with its launch on Fire TV Stick, a digital streaming device from Amazon, and is now available on Amazon India.

Full Story >>

New Delhi [India], May 25 (ANI-NewsVoir): Rakesh Kapur, Joint Managing Director, Indian Farmers Fertiliser Cooperative Limited (IFFCO), has been elected as the Chairman of the International Fertilizer Association (IFA) at the recent IFA's Annual Conference held from May 22nd - 24th in Marrakech, Morocco in which 1400 participants were present.

Full Story >>

New Delhi [India], May 25 (ANI-NewsVoir): Unveiled at its Insights 2017 customer conference, Epicor Software Corporation, a global provider of industry-specific enterprise software to promote business growth, has introduced the latest version of Epicor ERP, the global enterprise resource planning solution in use today by thousands of customers in 150 countries worldwide.

Full Story >>

New Delhi [India], May 25 (ANI): Credit rating agency ICRA expects Indian GDP and gross value added (GVA) at basic prices to expand by 7.1 percent and 6.9 percent, respectively, in year-on-year (YoY) terms in Q4 FY2017.

Full Story >>

New Delhi [India], May 25 (ANI): Alibaba Mobile Business Group on Thursday announced appointment of Young Li as Head of International Business Department.

Full Story >>

New Delhi [India], May 25 (ANI): JobsForHer (JFH), an online connecting portal that enables women on a professional break to restart their careers and achieve their full potential, announces the launch of its second roadshow.

Full Story >>

Aye Finance raises USD 8 mn from Blue Orchard

Updated: May 25, 2017 13:09 IST     

New Delhi [India], May 25 (ANI): Non-banking finance company (NBFC) committed to transforming micro and small enterprise financing in India Aye Finance has announced raising USD eight million from Blue Orchard, a leading global impact investment manager.

Full Story >>

New Delhi [India], May 25 (ANI-BusinessWireIndia): International Career and College Counseling (IC3) Conference has announced the second edition of the Annual Conference, that will be held in New Delhi on August 30 and 31 2017 at JW Marriott, Aerocity.

Full Story >>

Chennai, (Tamil Nadu), [India], May 25 (ANI-NewsVoir): MindHour, one of the fastest growing Edu-tech startup based out of Kolkata takes a step ahead and excited to launch its exclusive products in Tamil Nadu to touch the lives of school going children of class 6-10, ICSE and CBSE boards.

Full Story >>

Taxmann recognised as GST Suvidha Provider by Govt. of India

Updated: May 25, 2017 10:40 IST     

New Delhi [India], May 25 (ANI): Leading publisher of tax and corporate laws in India Taxmann.com has announced its recognition as the Goods and Services Tax Suvidha Provider (GSP) by the Government of India.

Full Story >>

New Delhi [India], May 25 (ANI-NewsVoir): Shardul Amarchand Mangaldas announced today that Shuva Mandal, National Practice Head of Corporate, M&A and Private Equity at SAM & Co., will be joining the USD 100b TATA Group as its Group General Counsel. He will be part of N. Chandrasekaran's special team that will assist in transforming the TATA Group.

Full Story >>