New Rs 100 note coming in April, old notes to be withdrawn gradually

The Reserve Bank of India (RBI) will soon release Rs 100 denomination banknotes in the Mahatma Gandhi (New) Series, having the signature of Governor Urjit R Patel. However, the Rs 100 banknotes in the earlier series will continue to be a legal tender.
According to Mint, RBI will start printing new Rs 100 notes in April (once Rs 200 notes have been printed), while the existing notes will be withdrawn from the market gradually without causing any disruption.
This is the fourth denomination that has been revamped since the government’s demonetisation on read more
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77% Indians don’t save for retirement, most depend on children for support

By 2031, the population of people more than 65 years old is expected to grow the fastest (75%) among all age groups, yet only 23% were saving or planning to save for retirement in 2016, according to an August 2017 report of a committee on household finance set up by the Reserve Bank of India (RBI), India’s central bank.

Only 60% insurance policies received premium for the second year in 2016, the RBI report data show. In five years to 2016, the average number of policies that got second-year premium dropped to 58%. Only 29% policies received payment for the read more

After food orders, Zomato waives fees from restaurants for reservations too

Online restaurant guide and food ordering firm Zomato on Tuesday said the company has decided to waive fees from the restaurants accepting table reservations through it.

The company had last month decided to forgo commissions charged from around 70 per cent of restaurants on food orders placed through Zomato.
“Retrospectively from June 1, 2017 onward, our restaurant partners will not need to pay a ‘per cover’ fee or even a platform fee to accept seamless digital table reservations from Zomato. Yes, the service will be completely free,” Zomato Founder and read more

Expanding all arms: Check out Amazon’s unfolding India play

On a rapid expansion path to capture its last big frontier, Amazon India is systematically adding manpower, technological and financial muscle to all its arms in India.
Following the same growth path it did in the US market, the company has been in the last two years, testing and adding almost every vertical it has globally to the Indian market.
Bolstering one of its various subsidiaries yet again,Amazon IT Services (India)  Pvt Ltd, the oldest arm of the global e-commerce player in India is looking to raise fresh funds to expand its operations in India as it looks at technology as an enabler to grow its business and increase efficiency to its customers. The arm has increased its authorised capital to Rs 900 crore from Rs 400 crore, according to read more

Excise duty on petrol, diesel cut by Rs 2/L; Govt may suffer Rs 26k-cr loss

Facing public resentment over the recent spike in fuel prices, the government on Tuesday cut the excise duty on both branded and unbranded petrol and diesel by Rs 2 a litre from Wednesday.
According to sources, the finance ministry was initially reluctant to reduce the duty due to revenue concerns, but relented after discussions with the petroleum ministry on implementing steps to bring down petrol prices to Rs 60-65 a litre.
While this would hit the revenues of the exchequer by Rs 13,000 crore in the second half of the current financial year at a time when the fiscal deficit has already touched 96 per cent of the Budget Estimates, consumers will get relief as the move would reduce the read more

Cashback, buyback, more: Know Reliance Jio offers on Apple iPhone 8 series

The iPhone 8 and iPhone 8 Plus are the first Apple products to be launched in India with an introductory offer from most e-commerce portals.
The two smartphones are also the first Apple devices that can be availed of on a 12-month contract from Reliance Jio.
In India, the iPhone 8 base model with 64 GB storage is priced at Rs 64,000 and the higher storage model with 256 GB internal storage is priced at Rs 77,000.
On the other hand, the iPhone 8 Plus base model with 64 GB and 256 storage are priced at Rs 73,000 and read more

Heavy rainfall batters Hyderabad, normal life hit, 3 dead

Heavy rain and water logging have led to the death of three people, including an eight-month old child, as heavy rains lashed the city on Monday evening.While a child and his father died in a wall collapse, another man was electrocuted to death.

According to the SHO of the Banjara Hills Police Station, 35 year-old Yadulu and his eight-month-old child died after a wall collapsed on them due to heavy rainfall while they were sleeping.

The bodies were recovered and sent for an  autopsy.In another incident, a 35-year-old person got electrocuted and died after touching the trolley which came in contact with an electric wire. He died on the spot.The downpour led to the deluge of read more