Onion output may dip 4.5%: Govt
New Delhi: The country’s onion production is estimated to decline by 4.5 per cent to 21.4 million tonnes in the current 2017-18 crop year due to lower acreage, as per the agriculture ministry data released Tuesday. The country had harvested 22.4 million tonnes in the last 2016-17 crop year (July-June), the ministry said in a statement. As per the ministry’s first advance estimate, area sown to onion remained lower at 1.19 million hectare in the current year as against 1.30 million hectare in the last year. To ensure sufficient domestic supplies and curb price rise, the government has imposed the minimum export price (MEP) of $850 per tonne, which would be applicable on shipments of the commodity till January 20.
RBI bonds scheme not closed: FinMin
New Delhi: The Finance Ministry Tuesday said RBI Bonds Scheme has not been closed but the interest rate on such papers lowered to 7.75 per cent. Monday, the government notified that the 8 per cent GoI Savings (Taxable) Bonds, 2003 “shall cease for subscription with effect from the close of business Tuesday, January 2, 2018.” “The 8 per cent Savings Bonds Scheme, also known as RBI Bonds Scheme, is not being closed. 8 per cent Scheme is being replaced by 7.75 per cent Savings Bonds Scheme,” Economic Affairs Secretary S C Garg said in a tweet. These taxable bonds are meant for individual other than Non-Resident Indians with no maximum limit for investment.
‘45kg urea bags in market to cut demand’
New Delhi: The government Tuesday said it has introduced 45kg bag of urea in place of existing 50 kg bag with a view to bringing down the consumption by 10 per cent. This decision was taken in September. Urea manufacturers have been given six months for smooth implementation. The consumption of urea stood at 296 lakh tonnes last fiscal. “In the light of increased effectiveness of NCU (neem- coated urea), government vide notification dated September 4, 2017 has decided to introduce 45 kg bag of urea in place of existing 50 kg bag,” Minister of State for Chemicals and Fertilisers Rao Inderjit Singh said. In a written reply to the Lok Sabha, he informed that a period of six months have been given urea units as lead time to ensure smooth implementation of the policy.
WhatsApp stops on BlackBerry OS phones
San Francisco: Facebook-owned mobile messaging app WhatsApp has stopped working on smartphones that support ‘BlackBerry OS’, ‘BlackBerry 10’, ‘Windows Phone 8.0’ and older platforms in the New Year. “These platforms don’t offer the kind of capabilities we need to expand our app’s features in the future,” a spokesperson wrote in a support note on the company’s website.
AIPNBOA holds meeting of working committees
Puri: All India Punjab National Bank Officers’ Association (AIPNBOA) organized a two-day meeting of its central working and executive working committees here. AIPNBOA General Secretary Dillip Saha, who is also president of AIBOC, participated in the programme. Saha discussed matters such as paring of NPAs, mergers and privatization, wage negotiation and financial inclusion at the meet. Pramod Kumar Mekap, Vice president of the all India body, Kshyamanidhi Mishra, AGS and other dignitaries including Pranab Patanaik, Himanshu Mohapatra, Amrita Pritam Mohanty, AVS Narayan, Baleswar Pradhan, Suresh Mohanty and many volunteers participated.
Bill to up Nabard’s capital passed
New Delhi: A bill to increase authorised capital of Nabard by six times to `30,000 crore and enable exit of RBI was passed by Parliament after the government assured that there is no plan to have private holding in it. The National Bank for Agriculture and Rural Development (Amendment) Bill, 2017, was passed Tuesday by voice vote in the Rajya Sabha. The bill has been passed by the Lok Sabha in August, 2017. In his reply on the bill in the Rajya Sabha, Minister of State for Finance Shiv Pratap Shukla said, noting fears about RBI’s role as regulator of Nabard after passage of this bill:?”RBI is the regulator for the Nabard and it would continue to be so.”
Parekh excited to lead Infosys
Bengaluru: Software veteran Salil S Parekh, who took over as CEO and MD of Infosys Tuesday, said he was excited to lead the IT major on its path of helping clients digitally reinvent themselves. “I am excited to lead the company on its path of helping clients digitally reinvent themselves for sustained growth,” said Parekh in his maiden address to nearly 2 lakh Infosys techies operating at its development centres the world over. The Infosys Board on December 2 appointed Parekh, 53, for the top executive post for five years with effect from January 2 to December 31, 2022. Parekh is the second non-founder executive of the $10-billion firm after the exit of Vishal Sikka in August 2017.