The Reserve Bank of India’s new directions on raising interchange fee and making available the facility of bulk clearing round the clock have become effective from Sunday onwards. The RBI in June raised the interchange fee for financial transactions from Rs 15 to Rs 17, while for non-financial transactions the increase was done from Rs … Continue reading RBI’s new rules on interchange fee, 24/7 bulk clearing facility functional

India’s petrol consumption topped the pre-virus level for the first time in 17 months and diesel sales, a key indicator for economic activities, stood just 11% short of the pandemic year in July as the country got back to business after a second Covid wave. Market data for the month shows state-run fuel retailers, who … Continue reading Petrol sales top pre-virus level for first time in 17 months, diesel 11% short

In what can be good news for hundreds of Indian IT professionals seeking the H-1B work visa, the US’ immigration agency has decided to conduct a rare second lottery for the most sought-after visas to decide on the successful applicants who could not make it in the first random selection.

Shailesh Jejurikar has become the first Indian to be appointed global COO of the consumer products MNC Procter & Gamble (P&G). The Mumbai born 54-year-old Jejurikar is an alumni of the Hyderabad Public School and counts among his classmates another famous global CEO — Satya Nadella of Microsoft.

Indian students with a valid visa can fly to the US to join their universities in August, but in the past few weeks many have found their flights cancelled or rescheduled. Air India sources said its collateral damage brought on by the continued restrictions on other categories of US-bound travelers from India.

An Air India Express flight from Thiruvananthapuram to Saudi Arabia had to return for an emergency after a crack in the windshield of the aircraft was detected, an airport official said. However, the plane had no passengers, due to the Covid-19 restrictions on international travel, and was only carrying cargo and a crew of eight.

State-owned CIL on Saturday said its board has approved a proposal to increase the coal evacuation facility charges. The board has also approved subsuming rapid loading charges with evacuation facility charges with effect from Sunday, Coal India Ltd (CIL) said in a filing.

Vaccinations and federal aid helped lift the US economy out of its pandemic-induced hole this spring. The next test will be whether that momentum can continue as coronavirus cases rise, masks return and government help wanes.

LinkedIn will allow most employees to opt for full-time remote work as offices gradually reopen, chief people officer Teuila Hanson told Reuters. This new policy from Microsoft Corp’s professional social networking site is a reversal of the company’s initial indication last October that employees would be expected to work from an office 50% of the … Continue reading LinkedIn to allow most employees to work remotely, reversing course

Microsoft Corp is in advanced talks to invest in Indian hotel chain Oyo at a $9 billion valuation, a source familiar with the matter said on Thursday. The deal could be announced in the coming weeks and would be a prelude to an initial public offering (IPO) by Oyo, the source said.

Drug major Sun Pharmaceutical Industries on Friday reported a net profit of Rs 1,444.17 crore for the quarter ended June 30, 2021. The company had posted a net loss of Rs 1,655.60 crore for the corresponding period of the previous fiscal, Sun Pharma said in a regulatory filing.