If retrenched workers are unable to reskill within a fixed period of time, they will have to return the money given to them by the government. Moreover, they may be asked to pay back an interest on the sum transferred.
The combined entity is set to be the third largest bank in India, behind State Bank of India and ICICI Bank.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
In a major blow to Nirav Modi, a bankruptcy court in the US has rejected a petition of the fugitive diamond merchant and two of his associates, seeking dismissal of fraud allegations against them by the trustee of three companies they previously owned indirectly.
The finance minister said the economy had been slowing.
Not needed, it says, with 4,600 staffers to retire over next 3 years, plus transfer of 12,000 to new subsidiaries
Defence Minister Manohar Parrikar has said his ministry had completed all formalities in respect of the one rank-one pension scheme for ex-servicemen and nobody should try to "politicise" the issue.
'... the government provides adequate cash and kind support for the poorest of the poor for survival... ...conditional cash and skilling support for the economically poor to raise their incomes to adequate levels... ...and make functional arrangements for providing unemployment allowance to the vulnerable poor during disasters like the present one.'
Monetising real estate assets is part of the overall relief package that would be used to retire debts, upgrade networks, and offer VRS aimed at reducing the telcos' employee strength by half.
'Clearly, the depositors of cooperative banks need the maximum protection.'
Experts expect the trend to continue in the near term.
Hitting out at Prime Minister for calling note-ban a 'shuddhi yagna', senior Congress leader Prithviraj Chavan said the move is nothing short of an "uncontrolled forest fire" that has claimed several lives and hit the economy.
Foreign Trade Policy: More incentives for exports, focus on ease of trading
'People are doing a lot of trading.' 'Short-term euphoria can be seen.' 'Retail participation is best through MFs and PMS.'
Restoration of the pre-2004 pension scheme, regularisation of contract employees after two years, enhanced daily wages, social security pension and appointment of anti-corruption grievances commissioner were the other promises made in the manifesto.
'Many enter the civil services with the desire to do good work but get beaten by the system, step back or become part of it.' 'Ten fantastic officers out of 100 can completely change the game.'
Restricted stock units can be an effective tool to curb employee attrition and retain key talent
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
With more firms now offering stock options to their chief executives, the salaries of these managers are sky-rocketing.
Given the many policy areas where the Centre and the states have not been seeing eye to eye in the last few years, it is time the Modi government convenes a meeting of the Inter-State Council, recommends A K Bhattacharya.
If the Centre and states are keen on spending more to meet the COVID-19 challenges in the coming year, they must bear in mind the need to raise more resources through taxes and non-tax revenues, suggests A K Bhattacharya.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Poor performance of the banking, oil and exploration industries have impacted corporate tax collections.
Ahead of India's annual budget presentation next week, IMF's chief economist Gita Gopinath has favoured the extension of the pandemic support measures, thrust on investment in infrastructure and expanding health sectors programmes like Ayushman Bharat, and a very credible divestment path for commercially viable companies. The Indian government has provided a lot of schemes for small and medium enterprises, most of which is in the form of liquidity support, Gopinath told PTI on Tuesday. "And you want to revisit it and see how effectively that is working and see whether additional support may need to be provided," she said while responding to a question on her recommendations to Finance Minister Nirmala Sitharaman, ahead of her presentation of the annual Union Budget on February 1. It would be a good time for banks and Non-Banking Financial Companies (NBFCs) to raise capital given the attractiveness of financing conditions at this point, she said.
Data released earlier by CAG shows capital expenditure by the Centre had contracted 9.2 per cent in Q2
The direct tax collections are likely to fall short of the revised Budget target by Rs 650 billion and, in fact, were Rs 150 billion lower than the original estimate for the fiscal
SBI might present the first result for the combined entity at the end of the first quarter of 2017-18
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
Compared to equity funds, debt funds are lower risk profile and are usually suitable for investors for very short term.
While some CMs suggested reopening economic activity in phases, others pitched for the extension of the coronavirus lockdown, but with a carefully crafted exit strategy
Measures may include tax slab and rate revisions for individuals, companies.
Banks Board Bureau chief Vinod Rai has proposed performance-linked incentives for bank employees, but the staff unions are dead against the idea.
Control over PSU banks is what is allowing the government to drive this scheme.
FMCG, durables, pharma firms say they remain unclear about transition gains and losses
Fiscal discipline has been maintained but toxic assets worth Rs 7 crore are a massive headache
Provisions of RERA, subsidy under PMAY and relaxation in PF withdrawal to buy a house will aid affordable housing, points out Harsh Roongta.
The Cricket Board has rubbished former England great Ian Botham's criticism of the highly lucrative Indian Premier League, saying he had no locus standi, and advised him to first get his facts right before commenting on the Twenty20 League.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
The workers who were hired straight out of school as unskilled labourers are now struggling to find alternative employment because they lack skills.
