New for 17-10-2018

Here are the major News for 17-10-2018 compiled from various sources, simply click on the given link to read the respective news item. Please feel free to add your comments to indulge into meaningful discussions and debates on the topics:

The Hindu:
More projects planned under CPEC: China

China hinted towards widening of the existing USD 60 billion worth of China Pakistan Economic Corridor (CPEC). Pakistan is presently debt strained and has also approached IMF for a bailout package.

UPI to facilitate interoperability among prepaid payment instruments (PPIs)

RBI has recently released guidelines for interoperability between PPIs, including wallets and cards, like Paytm, Mobikwik, PhonePe etc. Interoperability is proposed to be offered through the UPI.

India leads in low-cost carrier growth: CAPA

According to the Centre for Asia Pacific Aviation (CAPA), India is the fastest growing low-cost carrier market in the world. This might be a result of competitive rates offered by the domestic carriers, betterment of the living standards of the masses, and improved connectivity between destinations in and around India.

Federal Bank reports Rs 266 crores net profit in Q2

Federal Bank reported a net profit of Rs. 266 crores, which is marginally higher on yoy basis.

RBI approves 3-year term for Bakhshi as ICICI Bank chief

RBI approved the appointment of Sh. Sandeep Bakhshi as MD-CEO of ICICI Bank for three years, elevating him from the post of COO. The appointment came after the resignation of Chanda Kochhar.

Business Standard:
L&T only Indian firm among 25 companies in Forbes best employer list

L&T featured as the only Indian company among the top 25 companies in Forbes list of 2000 best employers. Among others, Mahindra and Mahindra stood at rank 55, Grasim Industries at 59 and HDFC at 91st rank.

Live Mint:
Reliance Jio reports Rs. 681 crore profit; RIL to buy Hathway, Den Networks

Mukesh Ambani’s RIL telecom arm- Reliance Jio Infocomm Ltd reported a profit of Rs. 681 crores for September 2018, marking a rise of 11.30%. The company is also in a process to acquire Hathway and Den Networks

CVC shares report on top 100 bank frauds with RBI, ED and CBI

Central Vigilance Commission has recently completed a unique analysis of the top 100 banking frauds, including those in jewellery and aviation sectors, and also submitted their findings with the RBI, ED and the CBI. The study was aimed at gathering information regarding how the frauds have been committed and the lopholes in the existing frameworks.

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