swissbank-truecolumn Business 

Indian currency rise to 50% in Swiss bank, reaches to Rs 7,000 crore

India’s stand on cleaning the black money gets a setback when the annual data was released by the higher officials of Swiss National Bank (SNB). The reports said that Indian Currency parked in the Swiss bank rose to 50% and reaches to CHF 1.01 billion (Rs 7,000 crore) in 2017. The data released came as a surprise for the government’s claim on suspected black money in abroad including in the bank of Switzerland. As per the data, the total money held by the Indians in the Swiss bank rose to…

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kingfisher-truecolumn Business 

Kingfisher Irritated employees ask PM Modi as dues paid given preference over their salaries

Employees of the Kingfisher Airlines Ltd. have appealed to PM Narendra Modi stating their allegations on the company who has delayed the salaries of the employees and instead focus on the dues owed by Mallya. They further requested to bring back Mallya in India to face the court. The letter was addressed to external minister Sushma Swaraj where the employees represent themselves as helpless common man of India. They said, “Please take this letter from us as a representation from the helpless common man of India and not just from…

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digitalindia-truecolumn Business 

Despite Digital India initiative, Just 25% adults using the internet

Giving a setback to the Digital India initiative, only one-fourth of the Indian youth are reported to use the internet in 2017, which is lowest in the world as reported by the Pew Research Centre. The survey is conducted across the 37 countries showing South Korea at the top with 96% of the adults using the internet. Most of the countries showed good performance in the survey while countries like India and Sub-Saharan Africa has to catch up with others. According to the survey, there is an increase of 10%…

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chandakochhar-truecolumn Business 

Chanda Kochhar goes on leave till probe ends, Sandeep Bakhshi as new COO

ICICI Bank CEO and MD Chanda Kochhar goes on leave till the completion of probe alleging against her in the charges of favouritism and conflict of interest, said by the Bank on Monday. Sandeep Bakhshi, group insurance head has been appointed as the Chief Operating Officer (COO) for the five years. The Bank released a statement where they said, “In line with the highest levels of governance and corporate standards, Ms Chanda Kochhar has decided to go on leave till the completion of the enquiry as announced on May 30,…

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inflation-truecolumn Business 

Inflation of vegetables climbed to 2.51%, fruits to double-digit at 15.40%

The wholesale Price Index breaks all record of the last 14 month and stood up at 4.43% on May this year due to increase in prices of petrol and diesel. Inflation of daily used vegetables rose to 2.51% while in case of fruits, the inflation was calculated in the double-digit figure of 15.40%. The wholesale inflation of the month of April stood up at 3.18% while it was just 2.26% during the month of May last year. The government related to the wholesale inflation was released today according to which…

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fuelprices-truecolumn Business 

Diesel Price cut by Rs 1.5 per litre, Petrol by Rs 2 per litre in 14 days

On the straight 14th day, Petrol prices were cut by 15 paise per litre and diesel by 10-11 prices thus decreasing the prices of diesel and petrol by Rs 1.5 per litre and Rs 2 per litre since May 29. The continuous changes in the fuel prices is due to the deregulation in the country and it is totally market-determined now. Any changes came as an effect from 6 am every day at the fuel stations. Price cut on the consecutive 14th day is confirmed by the Economic Affairs secretary…

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freewi-fi-truecolumn Business 

Google’s Free Wi-Fi finally completed at 400 railway stations

Google has finally completed its public Wi-Fi programme at 400 railway stations of the country on Thursday. The 400th station where Wi-Fi was installed is Dibrugarh, Assam. Google and the RailTel, the telecom arm of Indian Railways has signed an MoU in December 2015 to launch the free Wi-Fi service. In collaboration they started installing Wi-Fi in January 2016 with Mumbai Central as the first free Wi-Fi enabled station. As per the guidelines, Maximum thirty minutes of free internet access will be available and the average data consumption per session…

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merger-truecolumn Business 

Govt plans to merge Bank of Baroda, Central Bank, Oriental Bank of Commerce and IDBI Bank

The government is planning to merge the Four state-run banks including Bank of Baroda, Central Bank, Oriental Bank of Commerce and IDBI bank to combat the losses against them. If the merger process is further proceeded, the merged entity will be the second-largest entity after State Bank of India with an asset of about Rs 16.58 trillion. The main cause for the merger is to cut down the rise in bad loans in the government’s books which has crippled some of the banks to reduce the lending capability. If the…

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indiagdp-truecolumn Business 

India retains its position of fastest growing economy, GDP grows to 7.7% in Q4

The latest statistic brings good news for the Modi Government as India’s economy grows fastest in the seven quarters for the January-March quarter thus retaining the position of the fastest growing economy. The current ratings of more than expectation of 7.7% GDP is followed by the better performance in the manufacturing, public services, construction sector and other services. According to the economist, India’s GDP grows to 7.7% in the fourth quarter thus making India again as the fastest growing economy surpassing China to nearly a percentage point. Finance Minister Piyush…

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gopinathan-truecolumn Business 

Unlike others, TCS CEO Rajesh Gopinathan thinks faster industry’s growth

Many of the leading businessmen in the technology industry thinks that the best days were in the past and when it comes to the growth, India is facing challenging times now in the technology and service sector and the term layoff which was unheard in the past time occupies a common place now but TCS CEO Rajesh Gopinathan thinks differently and sees more growth in the industry now. Rajesh Gopinathan are a way contrast from his rivals and thinks that they aren’t thinking creatively enough to emerge from the services…

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