Sunny Verma

Profile

Sunny Verma is an Assistant Editor with The Indian Express and writes on economy and finance.

Innovation: A smart city that saves an hour a day
Sat, Jun 24, 2017

Finland’s citizen-centric Kalasatama project, which gives start-ups a platform for innovation, aims to free up one hour for its residents everyday by offering smart mobility and daily-use apps

Meaning GSTIN: PAN-based ID to simplify process, boost collections of indirect tax
Thu, Jun 22, 2017

The first two digits of the 15-digit GSTIN represent the state code as per the Census of India, 2011. The next 10 digits are the taxpayer’s PAN. The The thirteenth digit is assigned based on the number of registration within a state. The fourteenth digit is Z by default. The last digit is the check sum digit code.

Too hot to fly — why?
Wed, Jun 21, 2017

Extreme heat alters the density of air, making it thinner. Thin air prevents generation of required ‘lift’, and makes it more difficult for aircraft to take off. Thus, as it gets hotter, planes need progressively longer runways and greater engine power to reach the speeds needed to become airborne.

‘Basic income reduces bureaucratic process’
Tue, Jun 20, 2017

The Nordic country is currently collating database of 2,000 unemployed people who are paid tax-free €560 each a month under a two-year universal basic income experiment started in January.

Standoff over rates: RBI panel said no to meeting with Finance Ministry before review
Thu, Jun 08, 2017

Central bank resists, doesn’t cut; Govt says there’s strong case for easing rate

Shipping sector cost optimisation: Uptick in capacity addition amid falling expenses
Wed, Jun 07, 2017

While FY17 saw capacity addition of 86.59 MT, which is 1.5 times of that added in FY14, the ports spent only Rs 1,196 crore during the period

Airlines flying to or from Qatar: UAE asks foreign carriers to seek ‘prior approval’
Tue, Jun 06, 2017

Currently, Jet Airways, Air India Express and IndiGo are among the Indian carriers flying to Doha directly.

Airports Authority expects to monetise 7,000 acres of land
Mon, Jun 05, 2017

The civil aviation ministry has started inter-ministerial consultations on amending the Airports Authority of India Act, 1994, to expand the scope of usage for land owned by the Authority.

18 months of infra fund: no foreign investor and not one investment
Sat, Jun 03, 2017

The NIIF was set up with a targeted corpus of Rs 40,000 crore over the years— 49 per cent of this amount to be funded by the government and the remaining to be raised from domestic and global investors, including international pension funds, sovereign wealth funds, among others.

Strategic, operational benefits from the merger below expectation: Jayant Sinha
Wed, May 31, 2017

Minister of State for Civil Aviation Jayant Sinha said Air India and Indian Airlines merger in 2007 did not yield the desired strategic and operational benefits as was expected.

Govt’s Air India revival plan: Disinvestment, privatisation on the table
Wed, May 31, 2017

With state-run carrier Air India reeling under financial pressure, the chorus for its disinvestment has off late gained momentum, with Finance Minister Arun Jaitley being the latest to have suggested the same.

Firms paying rating agencies is conflict of interest, RBI has a plan
Thu, May 25, 2017

This is aimed at gradually replacing the existing practice wherein the borrower or the issuer company pays the agency rating its credit worthiness, leading to a clear conflict-of-interest.

Infrastructure Projects: Centre puts tough conditions for state entities borrowing overseas directly
Wed, May 24, 2017

Direct funding from external agencies available only for project with regular revenues that are able to provide for repayment of principal and interest

For weaker PSBs: Capital infusion to be performance-linked
Tue, May 23, 2017

The finance ministry has set some conditions before public sector lenders with not-so-strong finances, like reducing NPAs, and shutting down not-profitable branches for capital infusion

Approval to INX: Little memory of case, law will take its cours, say FIPB members
Wed, May 17, 2017

Apart from the DIPP secretary, the FIPB comprises the commerce secretary, economic affairs secretary, overseas Indian affairs secretary and economic relations secretary in the Ministry of External Affairs.

Banking consolidation 2nd wave: FinMin sees room for 3-4 more PSB mergers
Mon, May 15, 2017

‘Mergers among strong banks while shrinking balance sheet of weak banks planned’

Near miss incidents: Taking steps for the flight of safety
Wed, May 10, 2017

The number of such incidents has come down to 24 in 2016-17 from 30 in 2015-16; for further safety, DGCA has decided that corrective steps need to be taken.

Empowering RBI to speed up NPA resolution: Ordinance to cover 70% cases, top 40-50 defaulters, says Govt
Tue, May 09, 2017

PSBs’ gross NPAs rose to `6.06L cr by Dec 31, 2016, from `5.02L cr in entire FY16.

Interview with Principal Economic Advisor: ‘Ordinance to rein in free riders, non-compliance’
Sat, May 06, 2017

The Ordinance amending the Banking Regulation Act will speed up the NPA resolution process by empowering the RBI in giving specific directions to banks.

Push for NPA resolution: RBI to get more powers, oversight panels may target top defaulters
Fri, May 05, 2017

Proposed amendments to make resolution process more effective, provide relief to bankers: Lavasa

To crack down on loan defaulters, Cabinet clears new ordinance
Thu, May 04, 2017

The move is expected to speed up the NPA resolution process, as the bankruptcy code provides for a time-bound winding up of companies and recovery of secured loans.

If Centre decides to change fiscal year, states will follow: Andhra Pradesh CM
Thu, May 04, 2017

‘Nowadays, we are celebrating too many years; if the Union govt brings uniformity that is good’

Qatar Airways’ domestic plan: India home to foreign carriers, says Government; local players resent
Tue, May 02, 2017

While the govt says “we welcome investment from Qatar or from any one else”, local airlines say that permitting 100% FDI in domestic market does not bring in much capital investments as most planes in the sector are leased and departure & landing slots are assets

Training aircraft crashes in Vainganga river near Deori village of Maharashtra, 2 dead
Thu, Apr 27, 2017

Preliminary reports said the plane lost altitude and suddenly crashed into a cable-car ropeway connecting Deori to Dhimartola in Madhya Pradesh, located across the Vainganga river.

International Securities Identification Numbers: Sebi to discuss proposal limiting ISINs to consolidate bond market
Wed, Apr 26, 2017

Regulator to also take up proposal to integrate brokers in equity, commodity derivatives market.

Stressed assets issue: Govt, RBI may finalise NPA resolution policy soon
Sun, Apr 23, 2017

Expected after FM returns from his visit to the US and Russia later next week

Retail-focused lenders an opportunity
Fri, Apr 21, 2017

With the share of lending to the retail segment still below par, there is potential for banks and NBFCs to increase their exposure to this loan category and thereby attain growth, thus making them preferred investment options in comparison to others

Rs 5 lakh to Rs 15 lakh: AI proposes fine for unruly passengers delaying flights
Tue, Apr 18, 2017

The proposal says the monetary penalty is a “symbolic fine”.

Stress in bank balance sheets: FRBM panel suggests higher capital infusion for PSBs
Sun, Apr 16, 2017

Also says states should take over 100% of discoms’ debt under UDAY scheme

Tickets confirm, not passengers
Fri, Apr 14, 2017

A total of 18,242 persons having confirmed air tickets were denied boarding between April 2016 and February 2017 in India

Air India asks lenders to cut interest rates on loans
Wed, Apr 12, 2017

The airline is also in talks with state-owned infrastructure company NBCC and Ministry of External Affairs to sell around 98 of its properties spread across India and some overseas.

Air India on case against Shiv Sena MP: ‘Will let law take its course, won’t press for compromise’
Tue, Apr 11, 2017

Air India, which had barred Gaikwad from flying after the March 23 incident wherein the MP assaulted an airline employee, withdrew the flight ban after orders from the Ministry of Civil Aviation.

Regional service hits air pocket, carriers oppose levy
Mon, Apr 10, 2017

The government has imposed a levy of Rs 7,500 to Rs 8,500 per each departure flight on major routes, and the proceeds collected are to be used to subsidise flights on the unconnected regional routes.

Air Traffic: As UDAN spreads wings, hopes of a better coverage rise
Wed, Apr 05, 2017

The regional connectivity scheme, which was launched last week, is also going to help in better utilisation of airport infrastructure

Laptop ban in flight cabins: Nearly 11 lakh US-bound Indian passengers to be hit
Wed, Mar 29, 2017

Around 82.6 per cent of the total traffic to the US from India transited via Middle East, Europe, North and South Asia in 2016, as per data from the Centre for Asia Pacific Aviation (CAPA).

Search & Seizure Operations by Tax Dept: Upswing in undisclosed income detection this fiscal till February
Tue, Mar 28, 2017

The income tax dept detects Rs 14,697 crore this fiscal till February, against `9,521 crore in the year-ago period; Kochi registers the highest rise in detection.