Saturday, Aug 15 2020 | Time 10:42 Hrs(IST)
  • PM makes pitch for 'Atmanirbhar Bharat', says Army gave befitting reply to those who dared
  • Mobile internet suspended in Kashmir due to security reasons
  • Where was Father of Nation on August 15, 1947?
  • Chinar Corps wish people happy 74th Independence Day
  • J&K: 11 civil, police officers, doctors granted LG’s gold medal on ID-2020
  • PM Modi lauds success of 'Jal Jeevan Mission'
  • Germany records 1,415 new COVID-19 cases, total reaches 222,828 – Robert Koch Institute
  • Kim congratulates Putin on 75th anniversary of Korea’s Liberation from Japan: KCNA report
  • Assam COVID cured tally crosses 50,000
  • California becomes first state in US with over 600,000 COVID-19 cases
  • UN chief calls for restraint, calm in Belarus
  • Mamata greets all on 74th Independence Day
  • Heightened security across Delhi on I-Day, COVID guidelines strictly enforced
  • Arunachal reports one more Covid-19 death
Business Economy

Interest to be levied on late payment to vendors on GeM

New Delhi, Jul 3 (UNI) In order to promote greater discipline and timeliness in payment to vendors, especially MSMEs, the government has issued an order on Friday to levy interest on late payment to vendors on the government e-marketplace.
The government has been repeatedly emphasising the need for prompt payment to vendors, specially the MSME vendors.
According to the order issued by the Department of Expenditure, ''It is decided that whenever a Consignee Receipt and Acceptance Certificate is auto-generated or issued by a buyer and payment is not made 10 days hereafter, the buyer organisation will have to pay penal interest at the rate of 1 per cent per month for the delayed payment.''
The charge of interest will be prorated for the period of delay.
The amount collected in this regard will be deposited in the account of GeM, the office memorandum said.
The interest will not be payable to the vendor and will be kept by the GeM in a separated account which will be used only for the education of sellers and buyers or other purposes related to GeM or public procurement with the approval of the Department of Expenditure.
The conditions will be applicable for all procurements made from October 1, 2020,
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Memo Therapeutics AG and Northway Biotechpharma Collaborate on the Fast-Track Manufacturing of a SARS-CoV-2-Neutralizing Antibody for the Therapy of COVID-19

15 Aug 2020 | 7:49 AM

SCHLIEREN, Switzerland and VILNIUS, Lithuania, Aug 15, 2020 /PRNewswire/ - Swiss biotech company Memo Therapeutics AG (MTx) and Northway Biotechpharma (Northway), a leading biopharmaceutical Contract Development and Manufacturing Organization (CDMO), announce a new partnership to manufacture MTx's therapeutic COVID-19 antibody candidate in a four-month fast-track process.

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Glenmark's consolidated revenue grew by 0 94 pc at Rs 23,447 87 Mn for Q1 FY 2020-21

15 Aug 2020 | 7:43 AM

MUMBAI, India, Aug 15, 2020 /PRNewswire/ -

Highlights for Q1 FY 2020-21
India Business grew by 3.68 % to Rs. 7798.95 Mn. Europe Business grew by 12.77% to Rs. 2738.73 Mn. US Business grew by 1.61% to Rs. 7426.42 Mn. API Business grew by 1.83% to Rs. 2348.30 Mn. ROW Business experienced de-growth of (18.05%) to 2120.18 Mn.

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IKEA launches FÖRÄNDRING collection using rice straw material

14 Aug 2020 | 10:13 PM

Hyderabad, Aug 14 (UNI) IKEA India launched FÖRÄNDRING, a collection of sustainable products created from rice straw, a residue of rice production that is traditionally burnt and contributes heavily to air pollution in North India.

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Celebrate “Independence Day” with Senco Gold & Diamonds’ “Freedom Collection”

14 Aug 2020 | 7:33 PM

Kolkata, Aug 14 (UNI) Celebrating the 74th ‘Independence Day’ of India, the largest jewellery
retail chain from Eastern India Senco Gold & Diamonds’ has unveiled an exclusive range of
jewellery collection named “Freedom Collection”.

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