Daily Archives: October 10, 2018

SBI to triple asset purchase from NBFCs

State Bank of India (SBI) has decided to triple the target for loans it purchases from non-banking finance companies (NBFCs). The move is expected to provide much-needed liquidity to these entities. SBI had earlier planned to buy Rs. 15,000 crore worth of portfolio from NBFCs. It has now decided to …

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WhatsApp builds payments data system for local storage

Payment service, in pilot mode, to expand countrywide Ahead of the October 15 deadline to comply with RBI’s data localisation norms, Facebook-owned Whatsapp said it had built a system in India to store payments related data locally. “In response to India’s payments data circular, we’ve built a system that stores …

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IL&FS debt imbroglio puts diamond trade on the edge

Suppliers keen on assurance from clients on payment obligations The payment default by some Infrastructure Leasing & Financial Services (IL&FS) group entities and the resultant debt overhang has, in its wake, reportedly created a panic reaction in the diamond market as members of the diamond trade are known to be …

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‘Kim wants Pope to visit North Korea’

North Korean leader Kim Jong-un wants Pope Francis to visit the officially atheist country, South Korea said on Tuesday. South Korea’s presidential office said in a statement that Mr. Kim told President Moon Jae-in during their summit last month that the Pope would be “enthusiastically” welcomed in North Korea. Mr. …

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U.S. seeks Pak. help on Afghanistan

Washington’s newly named point man tasked with finding a peaceful end to Afghanistan’s 17-year war is in Pakistan to seek help from the new government in Islamabad in bringing the Taliban to the negotiating table, the U.S. Embassy said on Tuesday. A former U.S. Ambassador in Kabul, Zalmay Khalilzad arrived …

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‘Migrants’ role critical for economy’

Congress president Rahul Gandhi on Tuesday said violent attacks on migrant workers in Gujarat were because of the frustration among unemployed youth and asserted that the migrant workforce is ‘critical’ for economic growth. He said the Vijay Rupani government had failed to stop the violence against North Indian workers. “Across …

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‘Titli’ puts coastal Odisha on high alert

Cyclonic storm likely to intensify Several coastal districts of Odisha have been put on high alert as the cyclonic storm ‘Titli’ is expected to intensify into a severe cyclonic storm in the next 24 hours. As a precautionary measure, the State government has ordered the closure of all educational institutes …

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