Business & Finance Updates
FDI Down by 7 Percent in April-December 2018
According to the Commerce and Industry Ministry data, the foreign direct investment (FDI) into India came down by 7% at USD 33.49 billion during April-December 2018. Foreign fund inflows during April-December 2017 were at USD 35.94 billion.
EPF Interest Rate Hiked to 8.65 Percent
The Employees' Provident Fund Organization (EPFO) hiked the Employees' Provident Fund (EPF) rate to 8.65 per cent for 2018-19 from 8.55 per cent last year on February 21, 2019.
TCS Recognised as Global Top Employer
Tata Consultancy Services (TCS) has been recognized as a Global Top Employer for the fourth consecutive year by the Top Employers Institute on February 20, 2019. It is the only company among the top 10 IT services brands to receive the certification.
PayU India Gets New CEO
Anirban Mukherjee joins PayU India as Chief Executive Officer. He will report to Laurent Le Moal, CEO of PayU Global. Anirban was part of the leadership team at Jio, serving as the Co-CEO of Reliance Payments Solution Ltd.
RBI to Pay Interim Dividend
The Reserve Bank of India (RBI) will pay Rs 28,000 crore as interim dividend to the government. The RBI had transferred Rs 40,000 crore to the government in August 2018. This interim transfer leaves the government with a total Rs 68,000 crore from RBI in the current fiscal.