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RBI Policy Is ‘Anti-Growth’ Says FICCI Chief, Presses For Rate Cut

RBI Policy Is ‘Anti-Growth’ Says FICCI Chief, Presses For Rate Cut

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FICCI President Pankaj Patel today slammed the Reserve Bank of India over its reluctance to cut interest rate, saying its policies were "not industry-friendly" and posed a hurdle in the country's economic growth. In its latest monetary policy review on October 4, the RBI had kept the policy rate unchanged at 6 per cent even as it cut the growth forecast to 6.7 per cent for the current fiscal. Patel said such a move was "anti-growth". "RBI is not behaving properly. It (RBI policy) is anti-growth," Patel told a group of Indian reporters here. Indian industry, Patel said, wishes that there be a drop in interest rates, on which, he said, the RBI has adopted a rigid approach. "We want a drop in interest rate. This (interest rate) is a huge problem now for us. Real interest rate i...
Aadhaar Saved The Government About 58,000 Crores, Says Nandan Nilekani

Aadhaar Saved The Government About 58,000 Crores, Says Nandan Nilekani

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Nandan Nilekani, the architect of the Aadhaar card scheme, said that the government has saved about $9 billion (Rs. 58,204 crore) by eliminating fraud in government beneficiary lists. Participating in a World Bank panel, the 62-year-old non-executive chairman of Infosys said that the Aadhaar program has enrolled more than a billion people till now. Mr Nilekani also talked about the advantages of having a strong digital infrastructure in a developing country. "It has also saved the government about $9 billion in fraud and wastage because by having that unique number you eliminate fakes and duplicates from your beneficiary and employee list," Nilekani said at the event on the sidelines of the annual meeting of the International Monetary Fund (IMF) and the World Bank. Here are some ...
E-waste disposal from schools kicks starts in Kerala

E-waste disposal from schools kicks starts in Kerala

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E-waste removal from Kerala schools has begun with about 12,500 kg being disposed statewide on a single day under a programme aiming to clear accumulated junk, reportedly estimated at over one crore kg. Education Minister Prof C Raveendranath flagged off the first vehicle with e-waste from a school here yesterday under the programme jointly initiated by Kerala Infrastructure and Technology for Education (KITE), formerly IT@School project and Clean Kerala Company for scientific processing. It is aimed at disposing e-Waste such as desktop computers, CRT monitors, laptops, disk drives, printers, UPS, camera, speaker system, television, network components and generators from 10,000 odd schools and educational offices in the state. Similar vehicles from Alappuzha, Puthukkad, Kozhikode ...
            
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