According to Oxford Charity, wealth accumulated by the richest one percent will exceed that of the other 99 percent in 2016.
The gap between the richest and the rest is widening very fast.
As per reports, the richest one percent`s share of global wealth increased from 44 percent in 2009 to 48 percent in 2014 and will be more that 50 percent in 2016.
The average wealth per adult in this group is $2.7 million (2.3 million Euros.)
Banks Asked to Review Minimum Lending Rate Quarterly
The Reserve Bank has asked banks to notify the base rate, or the minimum lending rate, at least once in every three months based on cost of funds, a move seen as a nudge to lenders to pass on changes in policy rate to borrowers.
The direction comes soon after Reserve Bank cut repo rate by 0.25 percent, the first reduction in 20 months, to boost credit and economic growth.
Flipkart Joins Hands with TCYonline
Homegrown e-retailer Flipkart has joined hands with online education pioneer TCYonline to offer a wide spread of test preparation tools.
Starting January 19, products/coaching material for over 100 exam categories from TCYonline will be exclusively available for 90 days on Flipkart.
This partnership will offer students across India access to an entire gamut of educational offerings from TCYonline.
TCYonline is one of the largest and most popular testing platforms in the country with tests from over 50,000 teachers across 100+ exam categories.
According to Gaurav Gupta, Director - Retail, Flipkart, the e-learning space in India has seen a huge surge in demand. With this exclusive partnership, we are introducing a range of new age test preparation tools for students and learners in India. Products from TCYonline will add more depth and a new dimension to our rapidly expanding e-learning category.
A strange spectral-like 'ghost particle' that has been discovered in debris gathered from outer space, hints at possibility of alien life.
Researchers call the discovered particle a 'living balloon', which they thought once used to carry microscopic alien organisms. They claim that it is the latest proof that aliens do exist.
The particle was found in dust and particulate matter 27 kilometers above in the Earth’s stratosphere.
The particle is biological in nature, and is made of carbon and oxygen.
New App Version WhatsApp Plus
As per reports, Mobile messaging service WhatsApp might soon bring a new version to its messaging app--WhatsApp plus.
However, it is not yet clear whether the new version will be an addition to the existing messaging app or it will be an all new App.
WhatsApp plus will have a new set of emoticons and pre-made new theme. Another interesting feature that it will have is file sharing facility.
David Warner has courted trouble again and Cricket Australia is not amused. The explosive Warner was involved in an ugly verbal spat with Rohit Sharma during the ODI in Melbourne and was fined 50 per cent of his match fees by ICC match referee Andy Pycroft. With World Cup approaching and ICC in no mood to accept gamesmanship, Cricket Australia wants Warner to cool down.
Cricket Australia CEO James Sutherland has told the explosive Warner that he needs to "stop looking for trouble.
Former cop and social activist Kiran Bedi, has been declared as the face for the upcoming Delhi Assembly Elections by BJP.
As per reports the party will contest the elections in Delhi under Kiran Bedi and she will also be their CM candidate.
Elections to the 70-member Delhi Assembly will be held on February 7 and results would be announced on February 10.
Censor Board Gets New Chairperson
After Leela Samson resignation as the chief of the Censor Board, a new team of Central Board of Film Certification (CBFC) members has been formed.
Pahlaj Nihalani has been appointed as the new Chairman of CBFC. The other members of the new team are: George Baker, Mihir Bhuta, S. Ve Shekhar, Chandra Prakash Dwivedi, Ashok Pandit, Syed Abdul Bari, Jeevitha, Vanio Tripathi Tikoo and Ramesh Patange. The appointment of the nine members is with immediate effect.
All members of Tarun Gogoi's Ministry Resign
All the 14 members of Assam Chief Minister Tarun Gogoi's ministry resigned from their respective positions.
As per reports all the ministers have put in their papers so that the reshuffle can be carried out in a smooth manner.
The Chief Minister has requested the ministers to continue working in their posts till the reshuffle is done.
The new council of ministers is likely to take oath on 23rd January after the Governor returns to the state.