Monthly Archives: October 2018

It’s Yerushalayim, says inscription

Archaeologists unearth 2000-year-old carving in Jerusalem Israel on Tuesday unveiled a stone pillar engraved with an ancient inscription showing that the spelling of Jerusalem in its present-day Hebrew form was already in common use some 2,000 years ago. During construction work in February in Jerusalem, archaeologists unearthed the pillar with …

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Govt. hikes interest for gratuity funds to 8%

The Centre has notified a higher interest rate of 8% for the non-government provident, superannuation, and gratuity funds, effective from October 1. The interest rate on these funds has been raised from 7.6%. The move comes on the back of a hike in small savings rates — by up to …

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IMF projects India growth at 7.3% in 2018

India is projected to grow at 7.3% in 2018 and 7.4% next year, the International Monetary Fund (IMF) said on Tuesday, predicting that the country will regain the tag of the world’s fastest growing major economy this year, surpassing China with more than 0.7 percentage points. In 2017, India had …

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Rupee hits fresh low, ends at 74.39 against $

Weakens for sixth straight session The rupee weakened against the dollar for the sixth straight session, as the currency hit a fresh low amid strengthening of the greenback. The rupee declined 33 paise against the dollar to end the day at 74.39, which is a record low. The rupee opened …

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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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