APSRTC merger with state govt in less than 2 months: Andhra transport minister Posted on 21st June 2019 |
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| Amravati: Andhra Pradesh Transport Minister Perni Venkateswara Rao on Thursday said that the Andhra Pradesh State Road Transport Corporation (APSRTC) will be merged with the state government and the process will be finished in 60 to 90 days. The minister, who occupied his chamber in the state secretariat on Thursday, said that 350 electric buses will be introduced in metro cities in the state and people who buy vehicles are being given chance to apply for a license. He first signed the file that allows physically challenged people to get RTC pass for three years at once. "RTC issues bus passes to physically challenged people. They get a pass once in a year. As it might be difficult for them, so we decided to give the pass for three years at once, without changing the fee. This will come into implementation with immediate effect." Rao said. The minister also said that during one week period from June 13 to 19, the department checked the fitness certificates of school buses, filed cases on 624 buses and seized 357 buses. "Andhra Pradesh Chief Minister Jaganmohan Reddy decided to merge APSRTC into state government. What should be the structure of RTC after the merger, how should be the operational maintenance, whether to retain the corporate entity or to run as part of the government, how to overcome Rs 6900 crores debt of RTC and many such other issues are there. So we constituted a technical committee. The committee will give its report in 60 to 90 days. After that report, the CM will take the best decision," he said. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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| Be the first person to write a business review for APSRTC merger with state govt in less than 2 months: Andhra transport minister |
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