In 2009, FinMin proposed to move regulators' reserves into public account. These accounts were finally opened in 2013-14. However, no funds have been deposited in it so far.
Taxation has played spoilsport despite double digit returns.
Terrorists have stepped up attacks in the Kashmir valley over the past week.
A top-class board is important from a systemic point of view, more so at a time when the wider financial world and India Inc is chasing the same talent as banks.
The 6-member Monetary Policy Committee, headed by Reserve Bank of India Governor Urjit Patel, in its fifth bi-monthly review, kept the repo rate unchanged at 6 per cent and reverse repo at 5.75 per cent.
Taking the supporters of Telangana supporters by surprise the Union government has given its nod to the ambitious Information Technology Investment Region proposal for Hyderabad which envisions an investment of Rs 2.19 lakh crore in and around the city over the next 25 years.
Banking operations are likely to be hit hard on Friday as three employees unions have called for a nationwide strike to oppose outsourcing of services, demand recruitment of staff and one more pension option.
These changes will entail a relook at the various laws governing banks in the country - the two Bank Nationalisation Acts (passed in 1970 and 1980); the State Bank of India (SBI) Act of 1955; and the Companies Act of 2013.
'Now, we have a minimum pension of Rs 1,000 annually.'
The finance ministry has received over 600 names of Indians who have accounts in HSBC Bank's Switzerland branch, from the government of France.These names were obtained by the French government after an employee of HSBC Bank became a whistleblower. He took refuge in France and brought along a long list of account holders who have allegedly stashed money in the Swiss branch of HSBC Bank. Now the Indian government is sitting tight on those names.
The remaining 0.35 per cent will be credited in December this year, if the EPFO is able to redeem its equity investments.
"That is a fact of life because we are not being able, after 75 years, to bring the SCs and STs to the same level of merit as the forward classes," Attorney General K K Venugopal told a bench headed by Justice L Nageswara Rao.
Why did such a 'socially conscientious' people adapt to cash-for-votes and the like, as fish to water? N Sathiya Moorthy offers an explanation.
US Congressman Ro Khanna's message is that instead of depending on the 'hidden hand' of capitalism -- that is to say, the power of markets -- it is time for policymakers to play a more active role in making sure that a wide range of towns become locations for digital economy enterprises and jobs, points out Ajit Balakrishnan.
India does not have a stringent privacy or data protection Act.
The major central trade unions demanded that the Centre take steps to "negate" the impact of the SC judgement banning strike by government employees. They will also observe the opening day of budget session of Parliament as national protest day.
It also directed the BSF to produce before it the investigation report and the steps it has taken with regard to allegations levelled by Yadav.
Retirement fund body EPFO is likely to approve this month a proposal to enhance its investments in equites to up to 20 per cent of the investible deposits from the current limit of 15 per cent. The proposal is expected to be considered and approved during the EPFO trustees' meeting scheduled to be held on July 29 and 30, according to a source. At present, EPFO can investment 5 to 15 per cent of the investible deposits in equity or equity-related schemes.
On the eve of the Modi government's two years in office, the RSS-linked Bharatiya Mazdoor Sabha leadership met Finance Minister Arun Jaitley. After the meeting, the BMS claimed the FM told its delegation 'the government has realised that labour reforms are not essential for industrial growth in the country.'
The norms, say industry experts, are not sufficient to weed out fly-by-night contractors.
Besides these entities, IDBI Capital was shortlisted by the interim pension regulator PFRDA for acting as a fund manager and asked to submit bids.
Central and state government employees would be entitled to five per cent additional dearness allowance of basic pay and 50 per cent DA from July 1, 2006 following proportionate increase in price index since January this year.
Over 10 lakh (1 million) bank employees across the country are likely to strike work on Tuesday in protest against the 'negative attitude of the Indian Banks Association and the central government' towards their wage revision.
The Taliban knows that Washington holds the key, points out Ambassador M K Bhadrakumar.
Taiwan-headquartered Wistron Corporation has said that it had suffered a loss worth Rs 437.40 crore in the violence in its facility unleashed by a section of workers over salary issues at its plant in Kolar district in Karnataka.
While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard.
The Election Commission on Friday directed officials for a review of the deletions and additions in the electoral rolls of three assembly seats in Karnataka and ordered the suspension of two additional district election officials after allegations of 'electoral fraud' in the state.
The government should not go in for an 'aggressive fiscal consolidation' in the upcoming Budget as global risks have not abated, RBI Monetary Policy Committee (MPC) Member Ashima Goyal said on Wednesday. Goyal further said subsidies are expected to come down as food and energy inflation moderates. WPI inflation in food articles in November was 1.07 per cent against 8.33 per cent in the previous month.
Diversified business house Trident Group would become the first corporate to use Aadhaar Payment Bridge (APB) for disbursal of salaries to its employees.
Trade union leaders claimed that the strike would be even bigger than the one last year as the number of striking workers is expected to swell to 18 crore
Even today when news organisations and their owners have stooped before the powers that be when they were only asked to bend, Prannoy is still standing tall, asserts Sanjay Ahirwal, , former managing editor, NDTV Worldwide.
The bill also seeks to enhance the eligibility limit for payment of bonus from the salary or wage of an employee from Rs 10,000 per month to Rs 21,000.
On one hand, Operation Greens should help to smoothen volatility in the prices of vegetables, whereas the proposal to enhance and extend minimum support prices to augment farmer incomes, may emerge as an inflation risk.
'The situation is so bad that they are now sleeping on bridges or footpaths.' 'Therefore, they want to go and die before their parents or wife in case they get infected with COVID-19.' 'Workers don't want to die a dog's death in cities.'
Citing overlapping of functions, a parliamentary committee on Monday recommended integrating Central Vigilance Commission and anti-corruption wing of the Central Bureau of Investigation to work directly under the command and control of Lokpal to deal with corruption cases.
'You have to do good work and also do good politics.' 'I think that part was missing, communication was an issue, but we have bridged that gap.'
It is sad that the legislative pre-consultation on such an important bill is being done in a very biased manner, notes Shailesh Gandhi, former Central Information Commissioner, recounting his experience with Minister Rajeev Chandrashekhar.
The central government has notified the Employees Provident Fund (EPF) rate of interest at 8.5 per cent for 2006-07. The Central Board of Trustees (CBT) of EPF, in July, had recommended interest at 8.5 per cent. The government has now accorded its approval to notify the specified rate of interest for the year.
According to the CBDT, if a social media influencer retains a product from the manufacturing company after using for the purpose of rendering service, then it will be treated as a benefit/perquisite under newly-introduced Section 194R of the IT Act.
