Raghuram Rajan among top picks for IMF chief's role

Indian banks win UK court order to seek details of Vijay Mallya's asset ownership

Two superyachts, a game reserve, numerous undeclared high-value and vintage cars, valuable paintings and a piano previously owned by Elton John are among the assets in contention as part of a latest legal claim by Indian banks against embattled liquor tycoon Vijay Mallya in the UK High Court on Monday. Justice Robin Knowles,  ruled that he was satisfied that a consortium of Indian banks led by SBI have a right to the documents they are seeking, to establish the true ownership of the assets they believe are linked with Mallya.

18% GST on flat owners paying monthly maintenance of over Rs 7,500

Flat owners will have to pay GST at 18 per cent if their monthly contribution to resident welfare association (RWA) exceeds Rs 7,500, the Finance Ministry said Monday. As per the rules, RWAs are required to collect GST on monthly subscription/contribution charged from its members if such payment is more than Rs 7,500 per flat per month and the annual turnover of RWA by way of supply of services and goods exceeds Rs 20 lakhs.

Chandrayaan-2: World media hails India's great leap forward

"India is on its way to the moon," a leading US newspaper wrote on Monday as the country successfully launched its second lunar mission to explore the moon's uncharted south pole by landing a rover there. The country's most powerful rocket "GSLV-Mk-III" carrying the orbiter, lander Vikram and rover Pragyaan took off from the Satish Dhawan Space Centre in Sriharikota in Andhra Pradesh. Pakistan's leading newspapers on their websites displayed the news of the launch by international news agencies

Changes in motor vehicles Act won't affect states' powers, says Nitin Gadkari

Road Transport and Highways Minister Nitin Gadkari on Monday made a strong pitch in Lok Sabha for the passage of the Motor Vehicles (Amendment) Bill, 2019, saying it will weed out corruption, improve road safety and usher in the use of more technology to regulate traffic. The existing law is 30 years old and the penalty for traffic rule violators is very low, he said, adding that this does not instil fear of law. The proposed legislation will also help check corruption, he said.

Air India to resume flights on Lucknow-Najaf, Delhi-Kabul routes

With Pakistan reopening its airspace, national carrier Air India will resume flight operations on the Delhi-Kabul and the Lucknow-Najaf routes from August 5 and October 28, respectively, said Air India chief on Monday. Pakistan had shut its airspace on February 26 due to the Balakot airstrike by the Indian Air Force, which resulted in a significant rise in Air India's operating costs on flights connecting north Indian cities and regions eastward of Pakistan.

Raghuram Rajan to replace Christine Lagarde? Former RBI governor among top picks for IMF chief role

Former RBI Governor Raghuram Rajan is among the top contenders for the high-profile post of International Monetary Fund's (IMF) Managing Director. There are growing demands that the next IMF chief be chosen from outside Europe and America. Rajan's name came as a likely candidate in a letter written by British foreign affairs committee chairman Tim Tugendhat's letter to foreign secretary Jeremy Hunt.