Sunday evening news brief, April 02, 2017

Sunday evening brief Apr 2 2017
Good evening!
Here’s everything that transpired during the course of the day…
The government plans to change security features of higher denomination banknotes every 3-4 years. Recently seized fake notes of Rs 2000 denomination were found to have at least 11 of the 17 security features replicated. Officials said the change of security features every 3-4 years, as is the practice in several developed countries, can significantly curb counterfeiting. Read
PM Narendra Modi inaugurated the Chenani-Nashri tunnel on the Jammu-Srinagar national highway today. The 9.2 km long tunnel, constructed at a cost of over Rs 2,500 crore, is the longest in the country. It will cut travel time between Jammu and Srinagar by two hours, and ensure connectivity even during winter months and inclement weather.
The Kenyan woman who faked assault by a group of locals in Greater Noida last week will be sent back to her home country. According to the Association of African Students in India, the decision to send her back was taken by the Kenyan Embassy. The woman had alleged that on Wednesday morning, her Ola cab was stopped by a group of 10-12 locals who beat her up. She withdrew the complaint a day later.
India has sought banking details of at least ten persons and entities suspected to have kept untaxed money in Swiss banks. Switzerland’s tax department issued notices to them last week to reply within 30 days to appeal the decision about providing information on requests from India. Most of the companies and individuals are associated with a carpet export business and an art curator.
RBI is likely to keep rates unchanged at its first bi-monthly monetary policy for 2017-18 on Thursday. Rising interest rates in the US may cause RBI to increase the benchmark policy rate in the future, depending on domestic and external factors, experts say. RBI governor Urjit Patel had said in February that he would wait for more clarity on inflation trends and impact of demonetisation on growth before making change in rate.
Copyright @ 2017 Bennett, Coleman & Co. Ltd.

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