South Korean car giant Hyundai Motors has been asked by the National Consumer Commission to pay Rs 6.8 lakh to a consumer for supplying a defective Accent car. Ruling that it is the duty of the car manufacturers to replace defective vehicles, the Commission said that in such cases, the companies are "not justified" in protracting litigation for years merely because they have money power.
For four days, the officer avoided giving any straight answers, becoming the first witness in the 48 witnesses that have appeared so far, to have achieved this feat.
The equity cult has grown at a rapid pace in India in the last few years, with retail investors latching on to the stock markets like never before. At 126.6 million, the number of dematerialised (demat) accounts, where investors hold their securities in electronic form for trading purposes, are at record high levels. The growth rate, on an annualised basis, stood at 27 per cent in 2022-2023, up from barely 6 per cent a decade ago.
With companies facing severe credit crunch, a top body of British employers on Monday asked for freezing of the national minimum wage until the economy recovers from the financial downturn.
Thousands of Andhra Pradesh government employees protested in Vijayawada against the state government's new Pay Revision Commission, demanding amendments to it.
The reason for the largesse, a first in the revenue department, is on account of direct and indirect tax collections exceeding the target (Budget estimate) for 2006-07. Total revenue collections stood at Rs 470,987 crore (Rs 4,709.87 billion) for the year, against the targeted Rs 439,952 crore (Rs 4399.52 billion).
A bench of Justices Sanjiv Khanna and SVN Bhatti asked additional Solicitor General SV Raju, appearing for the two probe agencies, when will the arguments on charges against Sisodia commence in the trial court.
Mayank Gupta, of BodhiSutra, discusses 10 career streams that will throw up opportunities in the times to come.
Several activists of pro-Kannada organisations were also whisked away by the police at Town Hall, as they gathered there to stage a protest.
Pensioners to get 40% raise, more gains for octogenarians. The Union Cabinet has accepted this proposal, along with other recommendations of the Sixth Pay Commission on pension benefits for the estimated 3.84 million central government pensioners at a meeting here on Thursday.
In a bonanza to its employees ahead of the ensuing Lok Sabha elections, the government on Friday decided to merge 50 per cent of dearness allowance with the basic pay
While IIM-A hiked its fee in the last academic session, IIM-K recently announced to increase its fee up to Rs 900,000. The move to hike fee is being made following the Centre's decision to stop bloc grant to the institute.
'As CIC, you have the power to comment on policy matters. 'If you have very strong beliefs and you know your rulings will be reported, you will express your beliefs.'
India will grow at around 8 per cent this year and next, but the principal risk to this projection stems from the demand-led inflation that "would occur if the total Pay Commission award for government employees were to be paid out immediately," the Paris-based Organisation for Economic Cooperation has warned.Besides, "quick action to write off small farmers' debt would also add substantially to demand," the OECD indicated in its latest Economic Outlook.
The Rs 10,807-crore (Rs 108.07 billion) budget for implementation of Sixth Pay Commission recommendations and to fund various ongoing projects was passed by a voice vote. Some members were not satisfied with the budget. The BJD members walked out alleging that Orissa had been ignored.
The welfare of the common man continues to be the top priority. The minister has reduced fares for the fourth successive year.
The action was expected to affect the general efficiency levels of the Railways and could also eat into its profit margins estimated at a minimum loss of around 20 per cent margins compared to last year, claimed IRPOF. It, however, clarified that the officers will not take any action that will cause inconvenience to the general public.
Creating many more half-decent jobs for the 10 million plus new entrants to the labour force each year must surely constitute the primary development challenge for India today.
Inflation target remains 5% for January 2017.
The NCDRC gave its order dismissing Air India's appeal against the Tamil Nadu state consumer commission, which had upheld a Chennai district consumer forum's order to pay the compensation.
The over 1.6 million employees of central public sector companies are demanding a salary increase of over 100 per cent, saying the average 40 per cent raise recommended by the Sixth Pay Commission for government employees is not enough. Salaries of public sector workers were last revised in 1997 and were scheduled for the next revision on January 1, 2007. The average gross monthly salary an ONGC executive earns today is between Rs 40,000 and Rs 50,000.
Online mutual fund (MF) investment platforms like Groww, Zerodha Coin and Paytm Money, which allow investments in direct MF schemes for free, will soon be able to charge their customers or the fund houses for executing transactions. "They can charge some money but commission-like structure won't be allowed," Madhavi Puri Buch, chairperson of the Securities and Exchange Board of India (Sebi), said on Tuesday. At present, none of these online investment platforms generate any revenue through the MF sales.
A new benefit of aggregate two years of paid leave that central government's women employees may avail to take care of their minor children will be limited to only the first two children and not for the third or fourth child, the government clarified through a notification
UAL and Continental Airlines closed their merger on October 1 creating the world's largest carrier by traffic.
"The 6th Pay Commission disbursement led to an increase in our working expenses," Chairman of the Railway Board S S Khurana said. He also said the Railways had saved Rs 655 crore. "Our cash surplus before the dividend was Rs 17,399 crore and operating ratio was 90.4 per cent," he said.
India is not so worried about meeting fiscal deficit target.
With the One Rank One Pension scheme for military veterans set to be notified soon, officials of central paramilitary forces, too, may be in for good news soon as the government is to take a final decision on granting of "organised services" status to them.
SEC charged that Menezes, who retired in 2005 as senior vice chairman of Citigroup, allegedly sold Citigroup stock just before the April 15, 2002 company announcement about significant losses in its Argentine operations.
The central government babus have been given a big hike in TA/DA (travel allowance/dearness allowance) as part of implementation of the Sixth Pay Commission, but it may be only illusory as ministries and departments will get no additional funds to foot their bills.
As the tussle for control of the Nationalist Congress Party hotted up after its vertical split, Sharad Pawar on Thursday declared he was the president of the party and hit back at nephew and Deputy Chief Minister Ajit Pawar's retirement jibe, saying he will work more effectively "whether 82 or 92."
Both the forces were of the view that inclusion of its personnel who have joined the service on or after January 1, 2004 in the new contributory pension scheme launched by the government was unfair.
RBI awaits fiscal stance, inflation to cool off to decide on rates.
Of the 3,893,149 registered applicants on the MP Rojgar portal, only 21 individuals have been successfully placed in government and semi-government positions since April 2020.
The strike was supposed to affect about 23 million passengers.
Six years ago, the company discovered an incident of embezzlement of about $4 mn by an employee.
A bonanza is in the offing for the senior ranks as the Defence Ministry has cleared proposals for creating more than 110 posts of Generals.
Congress leader Rahul Gandhi and all 117 party candidates in Punjab will pay obeisance at the Golden Temple and sit down for a langar on Thursday.
Abidali Neemuchwala, who had joined Wipro in 2015 as group president and chief operating officer, was also given 200,000 in stock options in the financial year ended March 2016.
Pakistan celebrated its 77th Independence Day on Monday.
The SEC has charged Citigroup's principal US broker-dealer subsidiary with misleading investors about the $1 billion derivatives deal tied to the US housing market.
