Category: Business

RBI-Rules-For-Credit-Debit-Cards

RBI Starts New Security Rules For Credit/Debit Cards

The new rules for credit/debit cards that Reserve Bank of India (RBI) issued in January, will come into force on Monday. The new rules will increase security by reducing frauds. Also, they will boost convenience of the user and security of transactions.

RBI rules for credit/debit cards

According to new rules,only domestic card transactions at ATMs and PoS terminals will be allowed at the time of issuance/reissuance of card. For international transactions, online transactions, card-not-present transactions and contactless transactions, the card holders will have to separately set up services on their cards.

These rules will come into force on March 16 and will be applicable to both the old and new cards. Old card holders have time to decide whether they need all services. Presently these services are provided with all cards but after the new rules, customers would have to ask for the services.

Also, the RBI directed the banks to allow mobile baking and net banking service to enable limit and enable and disable service 24×7. As soon as a customer makes changes in his/her credit/debit card service, his/her bank will notify him/her … Read the rest

Bill-Gates-Quits-From-Microsoft

Bill Gates Quits From Microsoft To Focus On Philanthropy

Microsoft announced that its co-founder Bill Gates has left its board of directors. The 64-year-old Gates has already stopped his activities in day-to-day operations of the company for more than a decade. But on Friday, he officially resigned from Microsoft to devote more time to philanthropy.

Bill Gates doing philanthropy

Gates and his wife, Melinda has launched a foundation. And he wants to devote more time to the philanthropy work. He was in the board of directors of Microsoft until early in 2014 but now he has completely discharged himself of his duties.

In 2000, Gates relinquished the post of CEO in the favor of Steve Balmer to find more time for his charitable foundation. In 2014, when Satya Nadella became third CEO of Microsoft, Gates resigned from the post of chairman.

Life of Bill Gates

Grew up in Seattle with two sisters, William H. Gates was regularly listed among the world’s richest people.His father William was an attorney and his mother Mary was a schoolteacher. Also, she was a chairwoman of United Way International.

Gates founded Microsoft with Paul Allen, who was also … Read the rest

SBI-Cards-IPO

SBI Cards IPO Allotment And Refund To Be Done On March 13 And March 12 Respectively

The SBI Cards and Payments Services IPO will soon start allotment of shares to applicants. According to the prospect filed by the company, the successful applicants will receive their shares in the demat accounts by March 13.

The refund process will start soon

The company will start allotting shares on 13 March and at the same time, it will initiate the refund process for the investors that won’t get shares. The refund process will start on 12 March.

The IPO was hugely popular

SBI invited bids for its IPO between March 2 and 5 and it received a huge response from the investors. Its share was subscribed 26.54 times. State Bank of India (SBI) is the largest lender of the country and its credit arm aims to raise around Rs. 10,350 crore through the IPO.

The investors are closely watching the IPO that is expected to get listed on March 16. The bidders can visit the portal link Intime India to check the subscription status. They will need using their Permanent Account Numbers (PAN) or application number of client ID to check the status of their subscription.

Read the rest
India-Suspends-All-Visas

India Suspends All Visas For A Month Over Coronavirus Scare

The government suspends all Indian visas in the wake of spread of coronavirus spread in the country and the World Health Organization declaring it a pandemic. All existing visas — except diplomatic, official, UN/International organisations, employment and project visas — will be suspended till April 15.

The visa suspension will come into effect from 1200 GMT on 13th March 2020 at the port of departure. Earlier the visa facility was partially suspended from the COVID-19 nations.

Highlights of the news

• The World Health Organization declared COVID-19 a pandemic. It means that it has affected the globe and infected a large number of people.

• The government communique related to visa suspension reads that visa free travel facility granted to OCI card holders is kept in abeyance till 15 April 2020.

• It also said that all incoming travellers from COVID-19 nations after February 15, would be kept in quarantine for a minimum of 14 days.

• International traffic through land borders will be directed to designated check posts with robust screening facility.

• India has a total of 67 confirmed coronavirus cases. Fresh … Read the rest

Donald-Trump-Puts-Travel-Ban

Donald Trump Puts Travel Ban On 26 European Nations But Keeps UK And Ireland Out

Under the mounting pressure to control coronavirus, President Donald Trump imposed travel restrictions on 26 European countries for a month. People from the said countries are banned from traveling to US for the said period.

US bans travel from Europe

The president took the dramatic step to address the health and economic shocks to Americans and to respond to the criticism that he hadn’t taken serious attempts to contain coronavirus spread in America. But he kept the UK and Ireland free from the travel order. Also, the travel advisor doesn’t apply to US citizens coming home.

Trump announced economic steps

To cushion the blow to American business that is already down with a sudden loss of consumer demand, the president said that trade won’t be affected by the travel restriction. He said in a tweet that the restrictions stopped people and not goods. But US stock futures slid further to more than 4% as the president made the announcement.

Trump looking for re-election

Trump’s re-election on November 3 depends largely on how well he responds to coronavirus crisis. It has enveloped his presidency. He used his Oval Office for … Read the rest

Rana-Kapoor-Properties-In-Delhi

Rana Kapoor Has Properties Worth Rs. 1,000 Crore In Delhi

The Enforcement Directorate (ED) prevented the Yes Bank founder Rana Kapoor from selling three Delhi properties worth Rs. 1,000 crore. He was about to shift his base outside the country.

According to sources, ED was tipped off about Rana Kapoor planning to shift to the US, the UK or France after selling his properties in Delhi and Mumbai. He didn’t want to leave any asset in India before leaving.

Rana Kapoor’s properties

The properties at 40, Amrita Shergill Marg, 18 Kautilya Marg in Chanakya Puri and the Diplomatic Enclave on Sardar Patel Marg are linked to Bindu Kapoor wife of Rana Kapoor. Bindu Kapoor is also under the scanner over suspicious transactions by former Yes Bank boss. The officials said that Rana Kapoor was in touch with top realtors in capital to sell the properties.

The luxurious bunglow at 40, Amrita Shergill Marg, a prime location in Lutyens’ Delhi was bought in the name of her company Bliss Abode Ltd. while the other two properties belong to Bliss Villa (Delhi) Private Ltd.

The Amrita Shegillbunglow was bought from Avantha Realty. The company belonged to … Read the rest