The second fortnight of September saw Rs 3 lakh crore of time deposits, something unique, followed by liquidation of Rs 1.2 lakh crore of these right after, report Business Standard's Ishan Bakshi and Nitin Sethi.From September 16 to 30, a staggering Rs 3.03 lakh crore of time deposits -- fixed and recurring -- were made at banks. This has never happened in any fortnight since January 2001. September 16 is also the date from which the Reserve Bank India, in a rare later decision, chose to implement an incremental Cash Reserve Ratio rule of 100%, retrospectively. The RBI said this was done to impound additional cash flowing into banks, assessing the impact of demonetisation, which was announced only on the night of November 8. Clearly, then, the RBI was aware that enough deposits -- liquidity in bank parlance -- were available with banks from September 16. What is also intriguing is that in the fortnight after September 30, as much as Rs 1.2 lakh crore of time deposits were liquidated. … [Read more...] about The mystery behind the Rs 3 lakh crore deposits in 15 days
Wells fargo mobile deposit limit
Not at the moment, says Ashish Narsale/Rediff.com, but the day is coming soon when the DSLR camera might become redundant. IMAGE: Shriya Saran sizzles up DLSR cameras at the Lakme Fashion Week. Photograph: Rajesh Karkera/Rediff.com Do you really need a DSLR camera? If phone manufacturers have their way, the answer would soon be no. Dual cameras in mobile phones are already emulating the bokeh (background blur) effect in portrait photos. But they have been limited by having either a wide or a telephoto lens.The race now is to emulate the interchangeable lens and the optical zoom-in, zoom-out feature of a DSLR camera; ie, to shoot wide, telephoto and portrait pictures with the same phone. The bigger challenge is to achieve this while maintaining the slimness of the phone's body. Oppo had revealed its optical 5x Dual-Camera Zoom -- a periscope style camera setup that fits in a fairly slim body -- at the Mobile World Congress last year. IMAGE: How wide and telephones lenses … [Read more...] about Will mobile phones replace DSLR cameras?
New Delhi: The Telecom Regulatory Authority of India (TRAI) amended the Mobile Number Portability (MNP) regulations to ease and quicken the process of portability. The timeline for porting a mobile number within the Intra-Licensed Service Area (Intra-LSA) or the same circle has been limited to two days and that in a different circle or an Inter-Licensed Service Area (Inter-LSA) has been kept at four days. Further, the regulator also said a telecom operator would have to pay a penalty of not exceeding Rs 10,000 for any misinformation about the portability and each wrongful rejection of portability request. "If any access provider or mobile number portability service provider contravenes the provisions... (it shall) be liable to pay an amount, by way of financial disincentive not exceeding Rs 10,000 for each wrongful rejection of the request for porting," the TRAI circular said. TRAI also shortened the validity period of Unique Porting Code (UPC) to four days from the previous … [Read more...] about GOOD NEWS! TRAI speeds up process of Mobile Number Portability
Jet Airways Crisis: A Delhi High Court Tuesday refused to allow Jet Airways founder Naresh Goyal to leave India and sought response of the Centre on his plea challenging a look out circular issued against him. Justice Suresh Kait said no interim relief can be granted to Goyal at this stage and added that he may deposit Rs 18,000 crore guarantee if he wants to travel to a foreign country now. The court was hearing Goyal's plea challenging the look out circular (LOC) issued against him on the ground that as on May 25, when he was de-boarded from a flight to Dubai, no ECIR/FIR was registered against him. Goyal said he came to know of the LOC on May 25 when he and his wife Anita were off-loaded from a flight to Dubai with an onward connection to London. The high court has put up the matter for further hearing on August 23. Senior advocate Maninder Singh, appearing for Goyal, argued that on May 25 when the couple was de-boarded there was no material to show any attempt to evade the … [Read more...] about Delhi HC Asks Jet Airways Founder Naresh Goyal To Deposit Rs 18,000 Cr If He Wants To Travel Abroad
Email Updated January 12, 2018 08:18:22 Photo: British Foreign Secretary Boris Johnson speaks after the meeting of the EU3 and Iran at EEAS headquarters in Brussels. (AP: Virginia Mayo) Related Story: Trump puts 'dumbest' Iran nuclear deal at serious risk Related Story: Iran defends nuclear deal, says Trump cannot undermine it Map: Iran, Islamic Republic Of European Union powers have urged US President Donald Trump to endorse a key nuclear agreement with Iran, insisting that the deal is essential for international security. Key points:Accord calls for Iran to slow its nuclear program in exchange for easing of sanctionsWorld powers meet Iran every three to four months to assess implementation of the dealBarack Obama suspended economic restrictions two years ago On Thursday the foreign ministers of Britain, France and Germany threw their weight behind the pact limiting Iran's nuclear ambitions and insisted that the Islamic Republic is respecting it."There is no indication … [Read more...] about EU powers urge Donald Trump to get behind pact limiting Iran’s nuclear ambitions