Union Finance Minister Nirmala Sitharaman on Wednesday announced a special window, structured as an Alternative Investment Fund of Rs 25,000 crore, for priority debt funding of stalled housing projects.

Sitharaman said the government would contribute Rs 10,000 crore to the fund. Banks such as the State Bank of India, and the Life Insurance Corporation will contribute Rs 15,000 crore. This will be an initial amount and more money may be added if necessary.

The finance minister said many home buyers had complained that flats booked and paid for by them had not been handed over yet. More than 1,600 housing…

Xerox Holdings Corp. has set its sights on a takeover of personal-computer and printer maker HP Inc., an audacious move that would unite two fading stars of technology.

Xerox is considering making a cash-and-stock offer for HP which has a market value of about $27 billion, according to people familiar with the matter. The copier maker’s board discussed the possibility Tuesday, the people said.

There is no guarantee Xerox will follow through with an offer or that one would succeed. HP, which installed a new chief executive just last week, is more than three times the size of Xerox and any bid would be at a premium to its current stock price.

Nationalist Congress Party (NCP) leader Rohit Pawar hit out at BJP-Shiv Sena alliance over the delay in government formation saying the “recent skirmishes” between the NDA partners are an “insult to democracy.”
In a Facebook post, he said that he respects Balasaheb Thackeray and questioned if the BJP would have been “so brave” if the Shiv Sena founder was alive today.

“Maharashtra is blessed with many leaders who have earned the respect of the people. One such leader was honourable Balasaheb Thackeray. There are many reasons why I respect him. One major reason is his stature in national politics. Before…

With the Shiv Sena seeming firm on its demand of sharing the chief minister’s post in the next Maharashtra government, a BJP minister on Monday said some of his party leaders are willing for a re-election in the state.

The BJP leaders expressed this view during a review meeting held in Dhule district on Sunday, state Tourism and FDA Minister Jaykumar Rawal told a television channel.

“The party workers said senior leaders of the BJP should not have forged an alliance (with the Sena)…give us a chance again, we will contest again and win this time,” said Rawal, who is…

Starts to Move Towards East Coast

A low-pressure area, formed over the north Andaman Sea and adjoining areas of the Bay of Bengal on Monday morning, intensified into a depression during early hours of Tuesday. Even as the Extremely Severe Cyclonic Storm Maha rages over the Arabian Sea, the Bay of Bengal depression is all set to intensify further into a cyclonic storm by Wednesday morning. Once the system concentrates into a cyclonic storm, it will be named ‘Bulbul’.

The depression is moving west-northwestwards, towards the east coast of India, and is very likely to concentrate further over the east-central Bay of Bengal. Even though it…

India will not be part of the the Regional Comprehensive Economic Partnership or RCEP — which will be the world’s largest free trade pact of 16 nations. India has called for a “mutually beneficial RCEP in which all sides gain reasonably”, which, on the ground, involves market access and tariffs.

There were indications that the 16 nations which would be part of the world’s largest free trade pact, may proceed without India to announce a provisional agreement amid trade tensions continue between the US and China, pushing economic growth in the region to its lowest in five years. …

Defamatory posts may attract NSA

With the Supreme Court likely to deliver the Ayodhya verdict before November 17, which is when the Chief Justice of India Ranjan Gogoi retires, police in Uttar Pradesh are already taking precautions when it comes to the law and order situation in the state. The UP police have issued an advisory and stated that they will not hesitate to book social media users under the National Security Act (NSA).

Speaking to the media, Uttar Pradesh Director General of Police (DGP) OP Singh stated that they are prepared and social media is being scrutinised and any objectionable or inflammatory posts will…

The air quality in the Delhi-NCR region remained hazardous with the AQI (air quality index) touching 500 on Monday. Rains over the weekend didn’t seem to help as it only appeared to worsen the thick smog that had engulfed the national capital. The haze over the city, along with the plummeting AQI, has completely disrupted normal life with schools choosing to remain shut and low visibility causing delayed and diverted flights.

With the city literally struggling to breathe, several suggested that moving out of the city seems like a wise solution. Burning and itchy eyes, dry throat and breathing troubles…