In efforts to boost its market-based economy, the government of Uzbekistan has decided to take initiatives favorable to the growing cryptocurrency industry.

The former Soviet nation confirmed that it is legalizing cryptocurrency exchanges and will allow blockchain companies to set up their offices in the state. The legalization came in the wake of a presidential decree that was signed to encourage the use of cryptocurrency and blockchain in Uzbekistan.

A document published at the behest of the president of the Republic of Uzbekistan, titled “On measures to organize the activities of crypto-exchanges in Uzbekistan,” revealed a set of official definitions for bitcoin-like cryptocurrencies. The state has confirmed that it will not treat cryptocurrencies like securities. …


New Delhi: Petrol prices witnessed the lifetime hike as the prices cross Rs 80 mark in the capital on the backdrop of 39 paise increase in the prices across the country. Diesel prices also went up by 44 paise sky-rocketing the prices to Rs 72.51 per liter in Delhi

A liter of petrol in Delhi now costs Rs 80.38 — a record high. It costs Rs 87.77 in Mumbai. Diesel is now priced at Rs 76.98 per liter in Mumbai.

Nationwide strikes have been announced by the opposition parties across the country next week over record-high fuel prices which they blame on high taxes imposed by the government. …


New Delhi: Vodafone Idea, India’s largest telecom company, is moving towards realizing its targeted $10 billion synergy benefits from the merger, with a major part being a rationalization of tower tenancies, and is also likely to limit employee headcount to 15,000 levels.

Vodafone India and Idea finally completed their merger last week — about two months behind schedule — and will need to shed up to 2,500 people from its 17,500–18,000 staff.

While some are likely to be absorbed in their respective parent companies — Vodafone Group and Aditya Birla Group — some others will be taken care of by natural attrition. …


New Delhi: State-owned Vijaya Bank has hiked marginal cost based lending rates (MCLR) by 0.05 percent for select maturities, following industry peers. In a regulatory filing, the bank informed that the MCLR has been revised with effect from September 7, 2018.

The one-year MCLR, against which consumer loans are benchmarked, has been raised to 8.70 percent from 8.65 percent earlier.

Among others, six, three, one month and overnight MCLRs will attract 0.05 percent higher interest each in the range of 8.60–8.05 percent.

However, it has kept the MCLRs unchanged for three year and two-year loans at 9.25 …


New Delhi: The Reserve Bank of India has imposed a Rs 1 crore penalty on Union Bank of India for failing to detect and report fraud on time.

“This is to inform that Reserve Bank has imposed a penalty of Rs 10 million on the bank for the delay in detection and reporting of fraud. The penalty has been imposed in the exercise of powers vested in RBI under …Banking Regulation Act,” Union Bank of India said in a regulatory filing Friday.

RBI had issued a show cause notice to the bank on January 15, 2018, asking why a penalty not be imposed on Union Bank of India under the Act. …


In efforts to boost its market-based economy, the government of Uzbekistan has decided to take initiatives favorable to the growing cryptocurrency industry.

The former Soviet nation confirmed that it is legalizing cryptocurrency exchanges and will allow blockchain companies to set up their offices in the state. The legalization came in the wake of a presidential decree that was signed to encourage the use of cryptocurrency and blockchain in Uzbekistan.

A document published at the behest of the president of the Republic of Uzbekistan, titled “On measures to organize the activities of crypto-exchanges in Uzbekistan,” revealed a set of official definitions for bitcoin-like cryptocurrencies. The state has confirmed that it will not treat cryptocurrencies like securities. …


In efforts to boost its market-based economy, the government of Uzbekistan has decided to take initiatives favorable to the growing cryptocurrency industry.

The former Soviet nation confirmed that it is legalizing cryptocurrency exchanges and will allow blockchain companies to set up their offices in the state. The legalization came in the wake of a presidential decree that was signed to encourage the use of cryptocurrency and blockchain in Uzbekistan.

A document published at the behest of the president of the Republic of Uzbekistan, titled “On measures to organize the activities of crypto-exchanges in Uzbekistan,” revealed a set of official definitions for bitcoin-like cryptocurrencies. The state has confirmed that it will not treat cryptocurrencies like securities. …


Turkey has made it to the top of the list of the countries in terms of investment in cryptocurrency with 18 per cent of the country’s investors have purchased digital currencies like Bitcoin and Ethereum in the past few years.

The finding was revealed in a survey conducted by Statistca. The survey was conducted on 15,000 individuals.

Notably, the national currency of Turkey, Lira, fell by more than 50 per cent against the US Dollar on the backdrop of the additional sanctions on Turkish economy imposed by the US Government earlier this month which also excluded Turkey from the global banking system operated by SWIFT in Belgium. …


Kochi: Helping hands are reaching Kerala and flood victims. A lot of individuals have come forward and donated for the Kerala floods whereas Government has also extended its helping hands in many ways. Muthoot Finance, India’s largest gold financing company announced a zero interest and easy EMI loan to the flood-affected people of Kerala for buying the white goods.

The company to also support the flood relief initiatives announces waiving of services charges for transmitting the funds to ‘Chief Minister Relief Fund’.

Notably, recently the banks have asked for relaxations in NPA rules for Kerala loans and DHFL Pramerica Life Insuranceoffered simplified claim settlement process for the Kerala flood victims. …


New Delhi: Ashok Travels and Tours (ATT), the travel arm of India Tourism Development Corporation Ltd (ITDC), will be responsible for managing the Cargo Surface transportation activities of Indian Air Force. It has bagged the ‘SPEEDEX’ (The Stores, Proactive, Efficient and Expeditious Despatch of Extra Size/Wt Consignment) Cargo of Indian Air Force.

The travel arm of ITDC will take care of ‘Surface Transportation’ of consignment weighing above 35 kgs for ‘door to door delivery’.

SPEEDEX’ service by Air Force was formally launched at Air Force HQ (Vayu Bhawan), New Delhi by Air Mshl RKS Shera AVSM VSM, Air Officer in charge Maintenance. …

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