Banks and staff unions had settled on a 17.5 per cent salary hike, to benefit about 702,000 public sector employees, besides agreeing to make 332,000 serving and retired employees eligible for pension.
The GoM is likely to submit an interim report to the Council on pruning the list of items that at present do not attract the levy.
Secretaries' panel fails to arrive at a decision. Sources told Business Standard the commerce ministry felt that the delay would add to the cost for the government as more and more factories could shut shop.
'Some of his ministers have performed abysmally, and Bommai has faced an unwanted campaign of religious polarisation imposed by national BJP leaders.'
'I would like the fleet acquisition to materialise at the earliest. It is a high priority item.'
PAC summons RBI Governor Urjit Patel, Finance Secretary Ashok Lavasa and Economic Affairs Secretary Shaktikanta Das.
The Reserve Bank of India (RBI) unions have decided to intensify their stir demanding revision of wages, pending since November 2017, and have called for mass casual leave of employees at the central bank on November 30. However, several sources in the RBI told Business Standard that the unions may not have to go on agitation, as the new contours of the wage pact have been almost finalised and could be announced any time. An email sent to the RBI was not answered. The United Forum of Reserve Bank Officers and Employees had deferred its agitation earlier after it was told that RBI Governor Shaktikanta Das was to hold talks with the human resource management department (HRMD).
In an interview with Business Standard, Jalan, who has also been a member of the Rajya Sabha, speaks on a wide range of issues concerning the markets
'Hacking of an ID or an account will have the same impact on a user in a city and one in a small town.' 'Security is like a railroad, you create it to last for every customer.'
The Securities and Exchange Board of India is now planning to enable investors to buy and sell mutual fund units through stock exchanges. Fund houses will also be allowed to sell new fund offers (NFOs) through exchanges, helping them to save on distribution costs.
'We have delivered a bitter medicine. It will take time to work.'
'Antibodies remain in the blood for at least seven to nine months.'
The panel shortlisted bank chairmen who have headed an entity for at least two years and were less than 60 years of age when the vacancy arose. The list will now be narrowed down to three candidates who will be recommended to the appointments committee of the cabinet headed by Prime Minister Manmohan Singh. Their consent will be sought before sending the list to the ACC.
While there has been no commitment from the government on the procurement of vaccines, initial volumes, or distribution plans, there is a likelihood that the low interest loans may be made available to these players only when the time to scale up manufacturing arises.
In a boost to the embattled Adani Group, Mauritian Financial Services Minister Mahen Kumar Seeruttun has told the nation's Parliament that Hindenburg Research's allegations of the presence of 'shell' companies in the Island nation are 'false and baseless' and that Mauritius was in compliance with OECD-mandated tax rules. US short seller Hindenburg on January 24 alleged that billionaire Gautam Adani used shell companies based in Mauritius to manipulate stock prices of his Indian-listed companies.
In its 29th report, which was tabled in Parliament earlier this week, Parliament's Standing Committee on Defence writes that it is 'startled' to be told that the tank had performed poorly in winter trials, and that it was miles away from meeting the army's requirements.
The studies found that sectors with the highest unaccounted income included real estate, mining, pharmaceuticals, pan masala, gutkka and tobacco, bullion and commodity markets, film industry, educational institutes and professionals.
The Cabinet Committee on Economic Affairs will discuss the proposal to lift the ban on state-owned companies from investing in mutual funds in its weekly meeting on Thursday.
AAP is quite keen to repeat party chief Arvind Kejriwal's sterling victory against Delhi's former chief minister Sheila Dikshit by pitting Damania against Gadkari in the proposed high-profile contest.
Medical seats for under-graduates and post-graduates remaining vacant in the NEET era, together with the Centre 'freezing' the number of medical colleges and seats in (Dravidian) Tamil Nadu and the launch of the PM's 'Vishwakarma Scheme' for the nation's craftsmen, are all seen as a bid to further reverse the state's progressive socio-economic agenda of and its achievements of the past hundred-plus years, argues N Sathiya Moorthy.
The Lok Sabha elections in 2024 are not a consideration when it comes to monetary policymaking, said Reserve Bank of India governor Shaktikanta Das to underscore the central bank's commitment to controlling inflation. "It's not possible for me to comment what we do in the next MPC (Monetary Policy Committee), but one thing I can tell and I would like to make it very clear-that the fact of elections coming up in 2024 is not a factor at all so far as monetary policymaking is concerned. "Monetary policymaking is for checking (and) controlling inflation," Das said at the Business Standard, BFSI Insight Summit.
Air India's handling of an incident in which an inebriated male flier allegedly urinated on a woman co-passenger suggests an urgent need for stricter rules to deal with unruly passengers, according to legal and aviation experts.
Ashoka University co-founders Vineet Gupta and Pranav Gupta, who were booked last week by the Central Bureau of Investigation in a Rs 1,600 crore fraud case, on Thursday stepped down from all boards and committees of the varsity.
'They have helped stabilise our market by acting as a counterbalance to foreign funds.'
In his opening remarks at the virtual summit of the Shanghai Cooperation Organisation (SCO), Modi also said that some countries use cross-border terrorism as an instrument of their policy and the grouping must not hesitate to criticise them.
It is believed that Tata Sons was unhappy with Mistry's approach of shedding non-profit businesses, including the conglomerate's steel business in Europe, and concentrating only on cash cows
According to unconfirmed reports, North India has seen a Rs 3 hike. A Delhi-based dealer said the companies had told him that the price would go up by Rs 5 a bag in a day or two. "The companies raised wholesale prices and we passed on the burden to consumers," said a Mumbai-based dealer who did not want to be named. The present retail price in Mumbai is Rs 274 per bag. Market sources said Chennai had seen a hike of Rs 3.
The CBI had registered a preliminary enquiry in 2016 which was later converted into a regular case, they added.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
Modi government plans to set up a committee of five or six chief ministers to suggest ways to promote digitisation.
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