Discriminatory' outsourcing H-1B visa fee lapses, gets $2,000 cheaper </br><br> In a breather for Indian IT firms, the "discriminatory" $2,000 H-1B fee mostly imposed on them has now lapsed in a Republican-majority US Congress. The charges, often called outsourcing fee, had forced Indian IT companies in the last few years to pay millions of dollars towards protecting the US-Mexican border from illegal immigration. Indian firms had described the fee on highly-qualified IT professionals coming to the US on a H-1B visa as "discriminatory." The legislation with regard to a $2,000 fee on H-1B visas for companies having more than 50 per cent of its employees oversees was adopted by the US Congress in 2010 mainly at the instance of a group of lawmakers led by Senator Charles Schumer. (Source: US immigration.com) 
Pre-placement offers jump by 55 per cent in IIT-Kharagpur: Officials </br><br> Pre-placement offers have increased by more than 50 per cent this year at IIT Kharagpur, an institute official said today. Compared to 92 such offers last year, IIT students have so far got 142 pre-placement offers (PPOs) this season, said Prof S K Barai, Chairman of Career Development Center at the IIT. The number of companies making PPOs has also crossed hundred this year, he said, adding that students went for internship in areas of core engineering, IT and finance. The highest package offered till now is Rs 25 lakh, according to him. "The trend for opportunities at IIT Kharagpur is increasing every year. With the increasing number of PPOs we believe that companies really like the talent that IIT Kharagpur is offering," Barai said. Placement session will begin from December. (Source: IIT Kharagpur) 
PM Narendra Modi unveils MUDRA Yojana, free LPG connections in Jharkhand </br><br> Prime Minister Narendra Modi today inaugurated distribution of loans under MUDRA Yojana and free LPG connections to families that are below poverty line in Jharkhand beginning with Dumka. "MUDRA Yojana will lift the standard of life of the people after several years of negligence and exploitation by usurers," Modi said after the inauguration of the twin benefits. Under the programme loans of Rs 26,000 crore would be distributed among 42 lakh people, including 20 lakh women across the country. Handing over the first instalment of Rs 10,000 to five men and women, he said it was a loan and not a grant. MUDRA Yojana (Micro Units Development & Refinance Agency) would benefit over one lakh people in Jharkhand where Rs 212 crore would be distributed. (PTI) -
ClipByte to raise around Rs 8-10 cr to fund expansion </br><br> E-commerce portal ClipByte today said it plans to raise around Rs 8-10 crore through equity dilution and issuing fresh shares. "We are having talks with private equity investors to raise around Rs 8-10 crore through equity dilution and issuing fresh shares to fund our expansion plans," ClipByte Director Jeetendra Murkute said in a statement. ClipByte with its single dashboard allows users to view and download television clips from 150-200 channels in India in the comfort of their offices. The company is now also looking out for partners globally to offer services. (Clipbyte) 
Casio launches ClassWiz fx-991EX series of calculators </br><br> Japanese electronics firm Casio has launched ClassWiz fx-991EX series of calculators in India which has the capability of online visualisation via QR code generation. The calculator has been priced at Rs 1,145 aiming to cater engineering, MBA & science students. ClassWiz fx-991EX is developed keeping in consideration student's convenience and to enhance their mathematics visualisation skills, Casio India said in a statement. By new online interface function, a user can display a graph on a smart device such as smartphone or tablet computer by reading the QR code to access a dedicated website, it added. (Source: Casio) 
Those did not take advantage of black money window will regret: Govt </br><br> Committing to fight the menace of black money, Finance Ministry today said that those who have not taken advantage of the compliance window to declare their unaccounted overseas assets and come clean will "regret." "Fight against black money is a part of economic reforms. As a country we can't allow ghost economy to undermine real economy and growth," Economic Affairs Secretary Shaktikanta Das said in a tweet. Only 638 declarations for a total overseas wealth totalling Rs 3,770 crore were made during the 90-day compliance window under the Black money (undisclosed foreign income and assets) and Imposition of Tax Act, 2015. "Black money compliance window: Those who did not declare have underestimated the power of information exchange. Will regret," tweeted Economic Affairs Secretary Shaktikanta Das. (PTI) 
Housing.com, Credai forge deal for exclusive partnership </br><br> Housing.com, one of the leading real estate platforms, and the Confederation of Real Estate Developers' Associations of India (Credai), India's apex real estate body, today signed a memorandum of understanding (MoU) for an exclusive partnership for three years. "The partnership is a testimony to the changing times in the way developers have been traditionally operating. This association is the first of its kind in the industry, and I am excited that it will redefine the way developers have been approaching buyers across India," said Jason Kothari, Chief Business Officer, Housing.com. (Source: Housing.com) -
According to PwC's Kameswara Rao, increase in carbon cess was expected as it was doubled in the last two years, but still well below the imputed cost of carbon. "This would increase cost of power by an average 10 paise per kWh. But it would also enhance the funding available with the government for supporting renewable energy manufacturing and renewable power plants," Rao said. (PTI)
PM Narendra Modi's Varanasi ranks at 418 among 476 cities on Swachhata: Congress </br><br> On the first anniversary of 'Swachh Bharat Abhiyan', Congress today claimed that Prime Minister Narendra Modi's constituency Varanasi ranked way down at 418 among 476 cities in terms of cleanliness in an "undeclared" list of the Urban Development Ministry. "Assessment of cleanliness undertaken by UD Ministry ranks Holy Varanasi, Modiji's Constituency, at 418 on a list of 476 cities! Of 2,20,359 school toilets taken up, about 40,000 only being constructed. Survey report not released by Ministry!" BJP chief spokesperson said. The Urban Development (UD) Ministry sources, however, contended that the survey in which Varanasi ranked 418 was dated prior to the launch of the 'Swachh Bharat' campaign. (PTI)
