US plans to cap H-1B visas to deter India's data storage norms : Bulletin: Business Today
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US plans to cap H-1B visas to deter India's data storage norms

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BusinessToday.In | June 20, 2019

US plans to cap H-1B visas to deter India's data storage norms

The United States has told India it is considering caps on H-1B work visas for nations that force foreign companies to store data locally, three sources with knowledge of the matter told Reuters, widening the two countries' row over tariffs and trade. The plan to restrict the popular H-1B visa programme, under which skilled foreign workers are brought to the United States each year, comes days ahead of U.S. Secretary of State Mike Pompeo's visit to New Delhi.

Government to set up panel to look into issue of 'one nation, one election'

Prime Minister Narendra Modi will soon set up a committee for giving "time-bound" suggestions on the issue of 'one nation, one election', said Defence Minister Rajnath Singh on Wednesday. Speaking to media after the all-party meeting on the issue, Singh said there was broad consensus for holding simultaneous polls to Lok Sabha and state assemblies.

Government proposes no registration charges for electric vehicles

The move, aimed at promoting electric vehicles (EVs) in India, comes at a time when the country plans high penetration of such vehicles by 2030.Issuing the draft notification to amend the Central Motor Vehicles Rules (CMVR), 1989, the road transport and highways ministry said battery-operated vehicles "shall be exempted from the payment of fees for the purpose of issue or renewal of registration certificate and assignment of new registration mark".

ICICI Bank, Axis Bank, Kotak Mahindra Bank tweak FD rates after RBI repo rate cut; check out latest rates here

In the wake of the RBI's monetary policy committee (MPC) voting to reduce the repo rate by 25 basis points (bps) to 5.75 per cent, some of the country's leading private sector lenders have also cut their interest rates on deposits by varying percentages. The move by ICICI Bank, Kotak Mahindra Bank and Axis Bank also comes amid easing liquidity conditions.

Microsoft to end support for Windows 7 from January 14 next year

Microsoft on Wednesday said its Windows 7 operating system will not get security and technical updates from January 14, 2020, onwards and users should shift to its latest software. Microsoft also said that it is working with computer manufacturing companies like Dell and HP for making devices available at affordable prices and also working on options to roll out buyback or exchange offers.

EAC-PM rejects Subramanian's GDP claim, accuses him of cherry-picking data

The Economic Advisory Council to the Prime Minister (EAC-PM) on Wednesday rejected the claims of former CEA Arvind Subramanian regarding over-estimation of GDP growth after 2011, saying his analysis is based on "cherry-picking" of high-frequency indicators while ignoring data on services, agriculture and robust tax collection. The EAC-PM also accused him of blindly trusting data provided by a private agency, CMIE and distrusting government institution Central Statistics Office (CSO).
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