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Kotak backs small savings rate cut

Kotak backs small savings rate cut

Uday Kotak, president-designate of the Confederation Indian Industry (CII), has pushed for a cut in the small savings rate, currently ruling at around 7.7 per cent, on the ground that banks are fighting an unequal battle with the postal system for deposits.

“The rates of interest on small savings are higher than the yields on government securities,” Kotak said after the chamber submitted its recommendations to the Modi government that could feed into its 100-day agenda.

Microsoft reboots the way it works with software developers

Microsoft reboots the way it works with software developers

In 2014, Microsoft Corp. cloud chief Scott Guthrie wrote up a proposal to acquire GitHub Inc. Then he filed the plan away in a drawer. Every once in a while he'd take the plan out and look at it, and then return it to the cabinet.

Guthrie felt Microsoft just wasn't ready to acquire the popular open-source company -- a widely used digital hive where millions of software programmers collaborate on, share and store code. “We would have screwed it up," Guthrie said.

Bitcoin plunges back below $8,000 as cryptocurrencies stumble

Bitcoin plunges back below $8,000 as cryptocurrencies stumble

Hong Kong: Bitcoin fell back below the $8,000 level for the first time in more than a week to halt its most recent rally, leading a wider retreat among cryptocurrencies.

The largest digital currency slumped almost 10% and was trading at $7,930 at 8:57 a.m. in Hong Kong, its biggest retreat in about two weeks, according to consolidated Bloomberg pricing.

Sensex, Nifty start on a cautious note

Sensex, Nifty start on a cautious note

Domestic equity benchmarks BSE Sensex and NSE Nifty opened on a cautious note on Tuesday as investors await RBI’s monetary policy decision, amid weak cues from global markets.

After scaling lifetime highs in the previous session, the 30-share index was trading 15.27 points, or 0.04%, lower at 40,252.35, and the broader Nifty slipped 10.10 points, or 0.04%, to 12,077.90.

Mitsubishi ups stake in TVS Auto Solns to 25%

Mitsubishi ups stake in TVS Auto Solns to 25%

Diversified global giant Mitsubishi Corporation has became a substantial minority stakeholder in TVS Automobile Solutions Private Limited (TASL), one of India’s leading independent aftermarket solutions provider and part of the $8.5-billion TVS group.

The Japanese conglomerate, which was holding a meagre 3% stake in the TVS group company last year, has increased it to 25% by picking up an additional 22% now.

Sebi initiates adjudication proceedings against HDFC AMC

Sebi initiates adjudication proceedings against HDFC AMC

The Securities and Exchange Board of India (Sebi) has issued two fresh showcause notices to HDFC Trustee Company and its managing director and other officials initiating adjudication proceedings in relation to investments of fixed maturity plans (FMPs) in debt instruments of Essel Group companies. Earlier on May 10, 2019, the market regulator had sent two showcause notices on the same matter to HDFC AMC.

NTPC to piggyback ISA to expand solar footprint

NTPC to piggyback ISA to expand solar footprint

State-owned NTPC has urged the International Solar Alliance (ISA) to appoint it a consultant for 1,000 MW of rooftop solar projects the latter plans to implement across several countries. NTPC proposes to charge 6-10% of the project cost as upfront consultancy fees, depending on the capacities of the solar installations.

13 killed in Air Force crash; overhaul of AN-32 aircraft languishes

13 killed in Air Force crash; overhaul of AN-32 aircraft languishes

In a harsh reminder of the unforgiving terrain the Indian Air Force (IAF) AN-32 transport aircraft operate in, one of these IAF workhorses crashed in Arunachal Pradesh on Monday. There were 13 military personnel on board.

The aircraft was flying from Jorhat, over high, densely forested mountains, to the advanced landing ground (ALG) at Mechuka, close to the Line of Actual Control (LAC) with China. AN-32s carry supplies that sustain army troops on the LAC.

Rupee opens 11 paise higher at 69.15 against US dollar

Rupee opens 11 paise higher at 69.15 against US dollar

The rupee on Tuesday opened 11 paise higher at 69.15 against the US dollar amid weak global cues and fall in crude oil prices.

The domestic unit on Monday appreciated by another 44 paise to close at 69.26 in line with a strong rally in domestic equities amid hopes of a rate cut by the Reserve Bank of India (RBI). It was the second straight session of gain for the domestic currency, during which it has strengthened by 58 paise.

Facebook eyes greater engagement in India by launching live game show

Facebook eyes greater engagement in India by launching live game show

Social media platform Facebook is set to launch its game show 'Confetti' on Facebook Watch on June 12 in an attempt to increase engagement among users. The show was first introduced in the United Stated and then taken to other countries including United Kingdom, Canada, Thailand, Mexico, Vietnam, and Philippines.

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