BT Podcast: Supreme Court extends deadline for linking Aadhaar : Bulletin: Business Today
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BT Podcast: Supreme Court extends deadline for linking Aadhaar

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March 14, 2018

Aadhaar linking with bank accounts, mobile numbers: SC extends March 31 deadline indefinitely
In a major relief to those who still haven't linked their Aadhaar cards with bank accounts and mobile numbers, the Supreme Court extended the deadline from March 31 indefinitely till the final judgement in the controversial case. The apex court is hearing the case on the constitutional validity of the government's biometrical identification scheme. However, it is still mandatory to link your welfare schemes with Aadhaar to get benefits under Article 7 before the deadline.

Pratt & Whitney engine issue: IndiGo, GoAir cancel 65 flights
A day after aviation regulator DGCA grounded 11 A320neo aircrafts fitted with a certain series of Pratt & Whitney engines, budget carriers IndiGo and GoAir cancelled as many as 65 domestic flights. IndiGo, which flies four out of every 10 Indians, cancelled 47 of its flights. The Wadia Group-promoted GoAir, on the other hand, cancelled 18 flights. The aviation sector in the country may remain affected with IndiGo and GoAir likely to face more disruptions in the coming weeks.

SBI reduces charges on non-maintenance of minimum balance by 75%
The SBI's decision to reduce penalty for non-maintenance of an average monthly balance (AMB) by 75 per cent will benefit over 25 crore of its customers. The latest decision by the country's largest public sector bank was taken after feedback from various stakeholders. The new charges will be applicable from April 1.

RBI clamps down on credit guarantees as PNB fraud swells
The Reserve Bank of India has barred all lenders from issuing letters of undertaking - a form of credit guarantee at the heart of a major fraud - as embattled Punjab National Bank disclosed its total exposure in the case had risen by another $145 million. As reported by Reuters, in a notice posted on its website, the RBI said banks would have to stop issuing letters of undertaking and letters of comfort, with immediate effect. It said banks could continue issuing credit guarantees in the forms of letters of credits and bank guarantees, however, if certain parameters were met.

Tata Sons to sell 1.5% stake in TCS through block deals to strengthen its balance sheet
Tata Sons has sold shares valued at nearly Rs 9,000 crore in Tata Consultancy Services (TCS) through open market transactions. The amount of shares offloaded by the major promoter of TCS amounts to around 1.63 per cent stake.

India's solar financing may have peaked at $10 bn in 2017: consultancy
India's solar industry more than doubled its fund raising to $10 bn in 2017, clean energy consultancy Mercom said, but activity is likely to slow this year as New Delhi plans to slap high tariffs on imports, as reported by Reuters. Prime Minister Narendra Modi has set a target of raising India's solar power generation to 100 gigawatt (GW) by 2022, five times its current levels. The government says India will need to raise at least $125 billion to reach its goal of generating 175 GW of energy from all renewable sources in five years.
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