Top 10 business news today: Cabinet clears crop insurance scheme, Small savings rates to fall, Maggi noodles sample, more
Savings rates on small savings could come off by 25 to 50 basis points (bps) over the next few days as the finance ministry comes up with its new formulation to reset rates on a quarterly basis instead of, as now, a yearly basis. As of now, the ministry will limit these cuts to small savings schemes that have a tenure of under five years. This means the popular National Savings Certificate (NSC) remains unaffected.
Proposed cut in interest rate restricted to schemes of under five years for now
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Savings rates on small savings could come off by 25 to 50 basis points (bps) over the next few days as the finance ministry comes up with its new formulation to reset rates on a quarterly basis instead of, as now, a yearly basis. As of now, the ministry will limit these cuts to small savings schemes that have a tenure of under five years. This means the popular National Savings Certificate (NSC) remains unaffected.
Proposed cut in interest rate restricted to schemes of under five years for now
</br><br>
Savings rates on small savings could come off by 25 to 50 basis points (bps) over the next few days as the finance ministry comes up with its new formulation to reset rates on a quarterly basis instead of, as now, a yearly basis. As of now, the ministry will limit these cuts to small savings schemes that have a tenure of under five years. This means the popular National Savings Certificate (NSC) remains unaffected.
Supreme Court seeks clarification from Mysore lab on Maggi noodles samples
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The Supreme Court asked the Central Food Technological Research Institute (CFTRI), Mysore, to further clarify whether test reports relating to lead and glutamic acid levels in Nestle India’s popular Maggi noodles are within the safe and permissible levels and whether tests for glutamic acid are the same as those for monosodium glutamate (MSG). (Reuters photo)
Google, Indian Railways to roll out Wi-Fi services at stations from Jan 22
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Kick-starting the ambitious free Wi-Fi project at 400 ‘A1’ and ‘A’ Indian RailwayS stations across the country, Railtel Corporation (public sector undertaking of the ministry of railways), in collaboration with internet search giant Google, will roll out internet services at Mumbai Central on January 22 this year. (Reuters photo)
Micromax Canvas Fantabulet priced at Rs 7,499 launched; smartphone to be available on Flipkart
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Micromax Canvas Fantabulet priced at Rs 7,499 was launched on Wednesday and the smartphone will be available in Chrome Gold colour through the e-commerce website Flipkart. According to the company, is its biggest smartphone ever – the handset packs a a 6.98-inch high-definition IPS screen.
Invest here, make in India: Piyush Goyal to Japanese firms
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Urging Japanese companies to invest and manufacture products in India, Power Minister Piyush Goyal said energy cooperation with Japan will be defining feature of bilateral relationship. “We invite Japanese companies to come to India, Make in India and Conserve Energy in India”, Piyush Goyal tweeted. (PTI photo)
Bharti Airtel to sell 2 operations in Africa to France's Orange
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Telecom major Bharti Airtel on Wednesday announced selling of its operations in Sierra Leone and Burkina Faso — both African countries — to Orange, a France-based telecom company, which will acquire 100% of the two companies' share capital. (Reuters photo)
CarTrade bags Rs 950 cr funding from Temasek, March Capital
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Online automobile classified company CarTrade, which had bought its rival CarWale.com last November, has raised $145 million in a fresh round of funding led by Temasek Holdings, US-based March Capital along with existing investor Warburg Pincus. (Source: website)
V-Moda Crossfade Wireless headphones now in India for Rs 24,990
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V-Moda has launched its V-Moda Crossfade Wireless headphones in India for Rs 24,990. The company claims that its design can cut out distractions of jet engines, crying babies and crowd noise, etc.
Prime Minister Narendra Modi to highlight initiatives at Startup India Conclave
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‘Start-up India Stand Up India’, a new initiative that Prime Minister Narendra Modi spoke about during his Independence Day speech in 2015, will be the government’s New Year gift to “young people” who want to set up new businesses or innovative projects. The government will formally launch the initiative on January 16 in an event that will see the participation of all major higher educational institutions through online connectivity.
