1Digital transactions: India ‘much safer than most destinations’
India’s digital frauds is 15 times lesser than world average
Banking Technology Expert Deepak Chandnani, CEO of Worldline Despite said that despite the report of the ATM fraud/cyber attack on a couple of Indian banks a fortnight ago, India is still safer, compared to many other destinations.
Even the US — the largest and most advanced economy in the world — still does not have two-factor authentication for credit card usage — a standard that has now become common in India.
- 4.76 – World
- 0.25 – India
2RBI allows banks to raise funds via masala bonds
Will open an additional avenue for banks to raise capital, says apex bank
After consultation with the government, The Reserve Bank of India has allowed Indian banks to raise funds through issuance of rupee-denominated bonds overseas (also called masala bonds) within the present limit of Rs. 2.4 Lakh crore set for foreign investment in corporate bonds.
Key Features of Masala Bonds:
- Funds can be raised from overseas in Indian Rupees
- Additional avenue for capital/long term funds
- Can be used as Additional Tier-1 capital
2.4 Lakh Crore
Limit for Foreign Investment in Corporate Bonds
3Airtel leads in 4G speed in Oct, RJio behind rivals: report
New entrant could extend free offers if trend continues
- Bharti Airtel (Airtel) has recorded the fastest speeds in 4G services in October, while the latest entrant Reliance Jio Infocomm (RJio) has been recorded the slowest.
- According to a latest edition of Quality of Service Tracker analyses Airtel improved 4G speeds upto 11.5 Mbps and expanded its 4G service to 19 of the total 22 markets
- RJio saw a fall in data speeds across 17 markets to and average only 6 Mbps.
No of Telecom circles in India
4Farmers’ shift to bio-fertilisers, drop in global pricesmay dent IFFCO’s turnover
IFFCO sees its fertiliser revenues going down.
Farmers’ co-operative, IFFCO sees its fertiliser revenues going down due to lower turnover mainoly because of reduction in the consumption of chemical fertilisers over bio-fertilisers.
As part of the 50-year celebration, IFFCO plans to increase its penetration in the farmer community by approaching member societies at about 111 locations across the country.
Indian Farmers’ Fertiliser Co-operative Ltd.
5Centre mulls training for panchayat members in waste management
BRICS conference on ‘participatory local budgeting’ begins
- Union Minister for Rural Development, Drinking Water, Sanitation and Panchayati Raj Narendra Singh Tomar has inauguratedthe three-day BRICS conference on ‘participatory local budgeting.
- He has said that In a bid to promote sanitation across the country, the Centre is keen on prioritising waste management as a prime focus and is set to conduct training programmes for all panachayat members across the country.
- Panchayats in Tamil Nadu are generating income from waste management and this model can be adopted across the country. They convert the waste to fertiliser and the inconvertible waste utilised for other purposes.
Narendra Singh Tomar
Union Minister for Rural Development, Drinking Water, Sanitation and Panchayati Raj
6FSSAI rolls out scheme to upgrade food testing labs
45 food testing labs and 14 referral labs to be upgraded
- In a bid to strengthen food testing infrastructure in the country, the Food Safety and Standards Authority of India (FSSAI) is rolling out Mobile Labs scheme to upgrade food testing laboratories with an investment of Rs 482 crore.
- The scheme is undertaken in the light of recent observations of the Bombay High Court regarding the urgent need to upgrade these labs in the country.
Food Safety and Standards Authority of India
7Anti-dumping duty on some China steel products
Cheap Products to see higher duties
- Centre has imposed anti-dumping duty on imports of steel wire rods from China to protect domestic manufacturers from cheap in-bound shipments.
- The Department of Revenue in a notification said anti-dumping duty is being imposed for six months on import of wire road of alloy or non-alloy steel from China.
Directorate General of Foreign Trade
8Twitter India MD Parminder Singh resigns
Follows Twitter India Head Rishi
- Two days after Twitter India head Rishi Jaitly announced his exit, the microblogging network’s MD for India, Southeast Asia and Middle East and North Africa region (MENA), Parminder Singh, has put in his papers.
- He, like many of his former colleagues, announced his exit on Twitter.
Monthly active twitter users
9ICICI Bank cuts home loan rate by 15 basis points
Loans can now be availed at from 9.15%
- ICICI Bank on Thursday announced a cut in home loan rate by 0.15 per cent for new borrowers.
- Home loans up to Rs.75 lakh for women borrowers will now attract an interest of 9.15 per cent from the earlier rate of 9.30 per cent, according to the Bank website.
- At the same time, the new rate for salaried class has been reduced to 9.20 per cent, as against 9.35 per cent earlier
Lowest Interest Rate in Last 6 years
10Council fixes 4-level GST rate structure
Rates are 5,12,18,28
- The Goods and Services Tax (GST) will be levied at multiple rates ranging from 0 per cent to 28 per cent.
- Ultra luxuries, demerit and sin goods, will attract a cess for a period of five years on top of the 28 per cent GST.
- Overcoming opposition from some States, the GST Council finalised on Thursday a multiple-slab rate structure, including the cess, for the new indirect tax. The quantum of cess on each of these will depend on the current incidence of tax.
Highest rate in Proposed GST