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21:57 Over 20,000 km of Narmada canals yet to be built: Gujarat CM

Gujarat Chief Minister Vijay Rupani on Wednesday admitted in the state Assembly that canals, having a cumulative length of 20,951.73 kilometres, were yet to be constructed as part of the Sardar Sarovar Narmada project. Rupani handles the Narmada portfolio. He said these canals would be completed at the earliest, subject to granting of permissions by various departments, as they passed through forests, sanctuaries and private lands. (PTI)

21:14 Mehbooba meets Modi; discusses security, development

Jammu and Kashmir Chief Minister Mehbooba Mufti met Prime Minister Narendra Modi on Wednesday and discussed the prevailing situation in the state and various development issues with him, an official said. During the hour-long meeting, Mehbooba briefed Modi on the security situation in the Valley as well as along the border with Pakistan, which has been witnessing heavy cross-border firing and continuous attempts of infiltration by militants.

The two leaders also discussed the ongoing peace initiatives undertaken by the Centre's representative, Dineshwar Sharma, the official added. The prime minister and the chief minister also discussed various aspects of the implementation of the Rs 1 lakh crore package for Jammu and Kashmir, which was announced by Modi in 2015. The central government has already sanctioned a total of Rs 62,599 crore of the package. (PTI)

20:20 More bank accounts of Gitanjali Group attached

34 more bank accounts/FDs of the Gitanjali group with the balance of Rs 1.45 crore have been attached, say IT sources.

20:00 India will be in step with world on 5G, says Sunil Bharti Mittal

Bharti Airtel Chairman Sunil Mittal said today that the commercial roll out of 5G services in India will be in sync with other parts of the world.

"India will be in step with the world, as world starts to roll out 5G technology in commercial sense, most likely in 2020 is the time," said Mittal.

19:42 CBI arrests Internal Chief Auditor of PNB

CBI today arrested an Internal Chief Auditor of Punjab National Bank in the ongoing investigation of the cases related to Nirav Modi group & Gitanjali group. The arrested Auditor MK Sharma was allegedly responsible for auditing the systems and practices of PNB, Brady House Branch, reports ANI.

19:40 INX Media Case

Delhi's Patiala House Court sends Karti Chidambaram to 1 day police custody.

19:25 Enforcement Directorate arrests R Subramanian, Promoter and MD of Subhiksha retail chain of stores under PMLA in a bank fraud case, reports ANI.

18:37 Nirav Modi says no to join CBI investigation into PNB fraud, say sources

According to sources, Nirav Modi has refused to join Central Bureau of Investigation (CBI) investigation in the Rs 11,500 crore fraud at the Punjab National Bank.

In an e-mail to NDTV, Modi said that he has businesses abroad and won't be able to do so.

18:15 Cabinet approves doubling of Government guarantee from Rs 9,500 crore to Rs 19,000 crore for procurement of pulses and oilseeds at MSP, reports ANI.

18:06 Karti Chidambaram's lawyer Abhishek Manusinghvi has reportedly told the court that the arrest of his client was not warranted. 'Daily reporting, passport submission, etc...Whatever promise is required my client is ready, but why arrest. This is not a case of arrest…forget about CBI demand, this is not even a case of judicial custody,' Manusinghvi said.

17:56 Q3FY18 agricultural growth at 4.1 percent, construction growth at 6.8 percent, mining growth at -0.1 percent

17:45 Q3FY18 GVA growth comes in at 6.7 percent. FY18 GVA growth seen at 6.4 percent.

17:46 Q2FY18 GDP growth revised to 6.5 percent from 6.3 percent earlier

17:40 FY18 GDP growth seen at 6.6 percent

17:36 Q3FY18 GDP growth comes in at 7.2 percent

17:00 Core sector growth at 6.7% in Jan

Electricity Output Up 8.2% Vs 4.4% (MoM)

Cement Output At 20.7% Vs 18.8% (MoM)

Steel Output At 3.7% Vs 2.5% (MoM)

Fertiliser Output Down 1.6% Vs 3% (MoM)

Petro Refinery Products Output Up 11% Vs 6.6% (MoM)

Natural Gas Output Down 1% Vs 1.2% (MoM)

Crude Oil Output At 3.2% Vs 2.1% (MoM)

Coal Sector Output Up 3% Vs 0.1% (MoM)

Core Sector Output Up 6.7% Vs 4.2% (MoM)

16:22 Delhi High Court has reserved its order on plea by 20 Aam Aadmi Party (AAP) MLAs against their disqualification in office of profit case.

16:01 Aircel files for bankruptcy with NCLT

Telecom operator Aircel has filed for bankruptcy in the National Company Law Tribunal (NCLT) Mumbai, sources have told CNBC-TV18.

Aircel is likely to have filed for bankruptcy a short while ago, the report states. The report adds that Aircel’s lenders met in Delhi and gave nod to the terms and conditions.

Aircel’s lead banker is the State Bank of India. Aircel's debt stands at around Rs 19,000 crore.

Build up to bankruptcy: Aircel had earlier proposed a cash infusion but did not go ahead with the plan, a source told the newspaper. The decision was triggered by the Reserve Bank of India scrapping all debt revamp schemes in favour of the Insolvency and Bankruptcy Code. Banks cannot restructure Aircel without provisioning for its debt since the company has not made payments since September.

Earlier this month, Idea Cellular had suspended interconnect services with Aircel over non-payment of dues.

Aircel, owned by Malaysian company Maxis, has been in debt since its failed merger with Reliance Communications' wireless business. The merger had failed due to regulatory hurdles and the Supreme Court preventing sale of Aircel's spectrum.

15:50 Gold plunges Rs 460 on weak global cues, fall in demand

Gold prices tumbled by Rs 460 to Rs 31,390 per 10 grams at the bullion market today, snapping their four-day rising streak due to subdued global cues amid slump in local jewellers' demand.

Silver also fell by Rs 250 to Rs 39,300 per kg owing to reduced off take by industrial units and coin makers.

Traders said, sentiment was downbeat as the precious metal fell in global markets, because the dollar held recent highs after Federal Reserve Chairman Jerome Powell vowed to prevent the economy from overheating while sticking with gradual rate rises. (PTI)

15:45 Zydus Cadila gets USFDA nod for sedative injection

Drug firm Zydus Cadila today said it has received final approval from US health regulator to market Dexmedetomidine Hydrochloride injection used for sedation of intubated and mechanically ventilated patients.

The approval from USFDA is to market Dexmedetomidine Hydrochloride injection 200 mcg (base)/ 2 ML and 100 mcg (base)/ ML single dose virals, Zydus Cadila said in a regulatory filing.

The injection will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad. (PTI)

15:35 BREAKING | Toys'R'Us UK has decided to 'wind down' after failing to find buyer, its administrators have said, according to news agency AFP. The move puts around 3,000 jobs on stake, as per reports.

15:27 India's luxury market to cross USD 30 billion by year-end: Assocham

India's luxury market is set to grow to USD 30 billion from USD 23.8 billion by the year-end on back of growing exposure of international brands amongst Indian youth and higher purchasing power of the upper class in tier II and III cities, Assocham said today.

The chamber pointed out that economic growth, leading to urbanisation and higher disposable incomes, has helped propel growth of luxury goods. Moreover, increasing retail presence of luxury players across the country and higher numbers of brands entering the country has resulted in strong performance of luxury goods. (PTI)

14:55 Fiscal Deficit for April-January stands at 113.7 percent of Rs 5.9 lakh crore revised FY18 target. Fiscal deficit for the same period is at Rs 6.76 lakh crore vs Rs 5.64 lakh crore (YoY).

# April-January Tax mop-up stands at Rs 14.56 lakh crore versus Rs 12.45 lakh crore (year-on-year).

# Revenue growth during the same period stands at Rs 4.8 lakh crore versus Rs 4.05 lakh crore (YoY).

# Capital spending for April-January is at Rs 2.6 lakh crore vs Rs 2.03 lakh crore (YoY).

# April-January revenue spending is at Rs 15.7 lakh crore versus Rs 14.1 crore (YoY).

# Receipts for April-January are at Rs 11.6 lakh crore versus Rs 10.5 lakh crore (YoY).

# April-January spending stands at Rs 18.4 lakh crore versus Rs 16.2 lakh crore (YoY).

14:45 Corporate Affairs Ministry to seek Cabinet nod for NFRA

Ministry of Corporate Affairs will seek Cabinet nod to set up the National Financial Reporting Authority (NFRA), in the next meeting, CNBC-TV18 has reported.

MCA’s proposal to approve NFRA could not be taken up by the Cabinet today. The Cabinet is yet to take a call on setting up of the NFRA.

14:13 Madhya Pradesh and Odisha bypolls: Congress is maintaining a steady lead in the Mungaoli and Kolaras Assembly bypolls. Naveen Patnaik’s BJP continues to lead by over 41,500 votes in Odisha’s Bijepur.

13:47 Dish TV, Videocon d2h get approval for merger

Dish TV and Videocon d2h have got all the approvals for their merger, CNBC TV18 is reporting, citing sources.

The reports adds that Dish TV-Videocon d2h are likely to be a merged entity by mid-March.

The full merger talks are due to the insolvency proceedings against a Videocon Group entity. Sources have said that Videocon d2h’s full merger with Dish TV is likely to trigger open offer for the merged entity.

Dish TV may also merge Videocon’s 28 percent stake in d2h business with itself post the merger.

In the merged company, Dish TV will own 31 percent and Videocon d2h will own 28 percent.

Dish TV is in talks with Videocon d2h for complete buyout after the proposed merger, the report suggests.

13:15 CBI has registered a case of bank fraud worth Rs 515.15 crore against RP Infosystem and its directors.

13:07 Madhya Pradesh and Odisha bypolls: Congress’s candidate Brijendra Singh Yadav is ahead by 2197 votes in Mungaoli while Mahendra Singh Yadav is leading by 2,142 votes in Kolaras after the fifth round of counting.

In Odisha’s Bijepur, BJD candidate Rita Sahu is leading by more than 25,166 votes over BJP’s Ashok Panigrahi after the eleventh round of counting.

12:52 Pakistan has violated ceasefire at Nowshera and Sunderbani area in Rajouri near the Line of Control. The Indian Army has retaliated effectively, reports CNN News18.

12:46 Speaking about the arrest of former Finance Minister P Chidambaram’s son Karti Chidambaram, CBI has said that it arrested him as they ‘felt he might influence witnesses’ and ‘tamper with evidence’. Karti was arrested today morning by the CBI in relation to the INX Media case for non-cooperation.

12:28 CESC announces interim dividend of Rs 12 per share.

12:26 Delhi High Court stays CBSE notification on eligibility norms for NEET

The Delhi High Court today put on hold the operation of a CBSE notification laying down eligibility conditions, including upper age limit of 25 years and 30 years for general and reserved categories respectively, to apply for MBBS course.

The order was passed by a bench of Justices Sanjiv Khanna and Chander Shekhar on several petitions moved by medical aspirants who are aggrieved by various other eligibility norms which bar them from applying for the National Eligibility cum Entrance Test (NEET)-UG for which the last date for submitting the application is on March 9.

Under the CBSE notification, candidates who have studied in open school, students who have had biology as an additional subject, those who have taken more than two years to complete their 11th and 12th and students who have studied privately were not eligible to apply for the exam.

The court, while passing its interim order, made it clear that while the candidates are allowed to submit their application for the entrance exam, it does not mean that they can sit for it. (PTI)

12:15 Odisha bypolls: Ruling Biju Janata Dal (BJD) is leading over the Bharatiya Janata Party (BJP) by more than 25,000 votes in Bijepur.

12:05 Karti Chidambaram arrest: To be produced in CBI court at 2 pm

Karti Chidambaram, who was arrested by CBI today morning in relation to the INX Media case for non-cooperation will be produced in the CBI court around 2 pm today. CBI is taking the former finance minister’s son from Chennai to Delhi. Karti was also interrogated at the Chennai Airport lounge by CBI officials, CNN News18 has reported.

11:51 Former Bihar CM and Hindustani Awam Morcha chief, Jitan Ram Manjhi has quit the BJP-led National Democratic Alliance (NDA), according to reports. He had met former CM and RJD leader Rabri Devi earlier today.

11:28 Madhya Pradesh and Odisha bypolls: Congress is leading by more than 1,300 votes in Kolaras. In Mungaoli, Congress is leading by around 1,381 votes after the third round of counting. Ruling BJD continues to lead in Odisha’s Bijepur seat.

10:54 Shankaracharya Jayendra Saraswathi, the 69th pontiff of the Kanchi Mutt has passed away in Tamil Nadu's Kanchipuram today. He was 82.

10:51 CNBC-TV18 has reported that Committee of Creditors (CoC) of Essar Steel have called for a meeting March 5.

The Insolvency resolution professional is to present both bids for Essar Steel to the creditors in the March 5 meeting.

Banking sources have said that no decision has been taken on eligibility of Numetal and ArcelorMittal bids for Essar Steel yet and that the IRP is currently in the process of seeking legal opinions on both bids for Essar Steel.

Satish Gupta of Alvarez and Marsal is the IRP for Essar Steel.

10:32 PM Modi greets scientists on National Science Day

Prime Minister Narendra Modi today greeted scientists on the National Science Day and also saluted science lovers.

"Greetings on National Science Day. I salute all science lovers and wish them the very best as they enhance their scientific zeal. India is extremely proud of our scientists", the Prime Minister said in his message.

Referring to the National Science Day in his monthly 'Mann ki Baat' radio address on Sunday, the PM had said that the relentless quest to ask questions for knowing the truth is very important. (PTI)

10:05 SBI has raised interest rates on retail domestic term deposits across 9 tenors for below Rs 1 crore.

09:36 Madhya Pradesh bypolls update: BJP was leading in Mungaoli while Congress was ahead in Kolaras in the initial trends.

09:32 Cipla gains 1% on partnership with Roche Pharma

Shares of Cipla rose 1 percent in the early trade Wednesday on partnership with Roche Pharma.

The company entered in to an agreement with Roche Pharma under which Cipla will promote and distribute Tocilizumab (Actemra) and Syndyma, the 2nd brand of Roche’s cancer therapy, bevacizumab (Avastin) in India.

This partnership is in line with Cipla and Roche’s efforts to improve healthcare and increase access to innovative, life-changing medicines in India, particularly to patients who currently do not have access to them.

Read more here.

09:16 Maruti Suzuki Chairman has told CNBC TV18 that Suzuki’s electric vehicle foray ‘will definitely happen in 2020.

Bhargava also said that Suzuki and Toyota have tied up for EVs in India.

Bhargava has also said that Maruti will ‘definitely see a reduction in royalty rate with Suzuki’ adding that the rate has however not been decided with Suzuki.

The Maruti Chairman also said that double-digit growth can be expected in FY19.

Gujarat Plant's second line will ‘come on stream at the start of 2019, Bhargava said, adding that the first line will be at full capacity next year.

09:07 Rupee at three-month low: Indian Rupee has opened at 65.12 against Tuesday’s close of 64.87.

09:05 Counting of votes for Mungaoli and Kolaras by-polls have begun. Voting for the two Assembly constituencies had taken place on February 24. As many as 13 and 22 contestants in fray for the two seats respectively.

08:59 CBI has arrested Karti Chidambaram in relation to the INX Media case for non-cooperation, CNN News18 has reported.

08:39 Corporation bank reports fraud of Rs 6.77 crore to CBI

The CBI has booked an auto dealer in Jamshedpur for allegedly defrauding the Corporation Bank to the tune of Rs 6.77 crore.

The agency has booked auto dealer Ramnandi Estates Pvt Ltd and its directors Akhouri Gopal, Sanjeeta Akhouri, Akhouri Nishant and Akhouri Nitesh.

An empanelled valuer of the Corporation Bank Sanjay Kumar has also been named as accused in the FIR.

A loan of Rs 10 crore was allegedly sanctioned to the company from the zonal office of the bank in Patna for setting up a showroom and service centre in 2014.

It is alleged that the loan was sanctioned on the basis of highly enhanced valuation reports of securities.

The bank has alleged that the accused defaulted on the loan, which was declared Non-Performing Asset in September 2016 causing a loss of Rs 6.77 crore.

The alleged fraud comes amid CBI's probe into recent complaints of massive frauds in the Punjab National Bank, Bank of Baroda and Oriental Bank of Commerce. (PTI)

08:28 2008 serial blasts mastermind and former member of Indian Mujahideen, Abu Rashid, has been killed in Idlib, Syria, News18 has reported. Rashid was an ISIS operative there. He had escaped to Pakistan after the 2008 serial blasts in India.

08:19 North East Elections 2018: Exit polls give BJP a clear lead

Two exit polls on Tuesday predicted that the BJP will dethrone the Left front from power in Tripura.

According to the exit polls, the BJP will also consolidate its position in two other north-eastern states of Meghalaya and Nagaland.

Read the full story here.

08:16 US Fed's Jerome Powell nods to stronger economy, backs gradual rate hike path

Federal Reserve Chairman Jerome Powell, in his first public appearance as head of the U.S. central bank, vowed on Tuesday to prevent the economy from overheating while sticking with a plan to gradually raise interest rates.

Testifying before the U.S. House of Representatives’ Financial Services Committee, Powell acknowledged the economy had strengthened recently, a remark that prompted investors to increase bets on four rate increases in 2018.

The Fed’s last round of economic projections in December pointed to three rate increases this year.

Powell’s overall tone, however, was one of continuity, as he told lawmakers the Fed would balance the need to guard against excessive inflation with the benefits of allowing the economy to enjoy the “tailwinds” of tax cuts and strong global growth. (Reuters)

08:11 Bihar BJP leader Manoj Baitha, accused of running over 9 school children has surrendered

Bharatiya Janata Party (BJP) leader Manoj Baitha, who had allegedly ran over nine school children crossing a road in Minapur, Muzaffarpur district of Bihar on Saturday, has surrendered before the police.

Baitha has been moved to the Patna Medical College and Hospital for treatment of injuries he suffered during the accident.

08:07 Trump discusses Iran in calls with Saudi, UAE leaders: White House

United States President Donald Trump discussed Iran's "destabilizing activities" and other security and economic issues in separate telephone calls with senior Saudi and Emirati leaders on Tuesday, the White House said.

In calls with Saudi Crown Prince Mohammed bin Salman and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan of the United Arab Emirates, Trump thanked them for highlighting ways that Gulf Arab states "can better counter Iranian destabilizing activities and defeat terrorists and extremists," the White House said. (Reuters)

07:56 Ketan Parekh sentenced to 3 years in jail for violation of SEBI Act

A special SEBI court today convicted Ketan Parekh and his relative in a securities scam for violating the SEBI Act and sentenced them to three years in jail.

Special judge VC Barde also imposed a fine of Rs 10 lakh on Parekh and his relative Kartik. The court had found them and their company guilty of non-payment of penalty. Karthik was later granted bail by the court.

According to the SEBI, it had found that the acquisition of shares of Shonkh Technologies International was made in violation of the SEBI Act. After this, an adjudication process was initiated and the presiding officer imposed a penalty of Rs 6,50,000 of them. (PTI)

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