The Supreme Court today allowed the CEO of the Unique Identification Authority of India (UIDAI) to make a PowerPoint presentation on the Aadhaar scheme at 2.30 pm before it. The constitution bench headed by Chief Justice Dipak Misra asked the petitioners opposing the Aadhaar scheme to prepare a questionnaire after the UIDAI CEO's presentation. The constitution bench is hearing a number of pleas challenging the constitutional validity of Aadhaar and its enabling Act. The bench had yesterday said there are several technical aspects related to the Aadhaar scheme. These include surveill ... Read More

Cab aggregator Ola has entered into a partnership with South Central Railway (SCR) to facilitate last mile connectivity for the railway passengers at three key railway stations in the city. Under the three year long partnership, Ola launched dedicated Ola kiosks at Secunderabad, Hyderabad Deccan and Kacheguda railway stations here yesterday to improve overall mobility experience for passengers, who can now be able to also book a cab with the assistance of Ola representatives stationed at Ola kiosks within the station premises itself, a release said. Further, Ola Zones have been set up at ... Read More

Infrastructure term-lender IFCI today said it has partially divested its stake in NSE worth over Rs 93.93 crore. IFCI has made partial divestment of its stake in NSE to the extent of 0.22 per cent of the total number of equity shares of NSE comprising of 10,75,000 equity shares at the rate of Rs 873.74 per share on March 21, 2018, it said in a regulatory filing. The board of directors of the company, in a meeting held on September 25, 2017 had approved the sale of 42,43,370 equity shares comprising of 0.86 per cent of the total shares of NSE to one or more buyers in part or full, it ad ... Read More

Shares in Canara Bank in Mumbai tumbled more than 5 percent on Tuesday morning after the country’s federal police filed charges against a former chairman of the state-run bank and others over allegations that the officials helped a company defraud the bank of about Doll1ar 10.5 million taken in loans over four years ago. By 0405 GMT, shares in the bank were down 3.80 per cent at 254.15 rupees after earlier falling to a low of 250 rupees. The case is the latest in a string of bank frauds reported to authorities in the aftermath of a sprawling $2 billion fraud that was unearthed weeks ag ... Read More

Pune-based Force Motors has signed an agreement with Rolls-Royce Power Systems to set up a joint venture facility at Chakan to produce the MTU series of engines at an initial investment of over Rs 300 crore. Besides engines, the 51:49 joint venture, Force MTU Power Systems, will also build Series 1,600 generators for the Indian and global markets. These multi-application engines are currently being produced at Rolls-Royce Power Systems’ manufacturing facility in Germany. Following the tie-up, the facility will be moved to the Pune facility. The proposed facility is expected to commence pr ... Read More

Infosys chairman and Unique ID project architect Nandan Nilekani on Tuesday said the original rationale for bank nationalisation has ceased to exist and that privatisation is the way forward the public sector lenders citing the taxpayers interest. Nilekani, who contested the last Lok Sabha polls on a Congress ticket, said banks were nationalised over five decades ago because they were focusing only on big industries and ignoring smaller ones. The 21 state-run banks had suffered reverses because of lending to large companies. Introduction of technology-based solutions also makes it pos ... Read More