Section: Business

7th Pay Commission: Confirmed, allowances updates in one week

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The revised allowance structure as per the recommendations made by the 7th Pay Commission would be announced next week, sources have confirmed. The Empowered Committee of Secretaries (E-CoS) is looking into the recommendations following which it would be presented before the Union Cabinet next week, the source also said.

Khadi industry plans to employ 5 cr people in 5 yrs: Giriraj

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The Ministry of Medium, Small and Micro Enterprises (MSME) has a target to employ around five crore people through the khadi industry over the next five years, Union minister Giriraj Singh has said.

HUDCO makes strong debut; lists 22% premium to issue price

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Shares Housing and Urban Development Corporation (HUDCO) has listed at Rs 73.45, a 22% premium against its initial public offer (IPO) price of Rs 60 on the BSE. On the National Stock Exchange (NSE), the stock opened at Rs 73.

After Kingfisher villa, ED seizes Vijay Mallya's Rs 100-cr Mumbai farmhouse

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Tightening the screws further on absconding liquor baron Vijay Mallya, the Enforcement Directorate (ED) on Thursday took possession of his seafront farmhouse worth Rs 100 crore in Raigad district of Maharashtra's Konkan region, an official said here.

Home loans to get cheaper: SBI, HDFC, ICICI Bank, Axis Bank slash rates

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Following other prominent banks, the country's third largest private sector lender Axis Bank on Thursday announced 30 basis points (bps) reduction in its home loan interest rates to promote affordable housing finance.

RBI eases norms to set up bank branches

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The Reserve Bank of India (RBI) on Thursday eased the norms of setting up bank branches and said branches manned by either bank’s staff or its business correspondents where services are provided for a minimum of four hours per day for at least five days a week will be called a banking outlet. “A banking outlet which does not provide delivery of service for a minimum of four hours per day and for at least five days a week will be considered a part-time banking outlet,” it said. The central bank said a banking outlet or a part-time banking outlet opened in any tier-III–tier-VI centre of North-Eastern States and Sikkim as well as in any tier-III–tier-VI centre of Left wing extremism (LWE)-affected districts will be considered as equivalent to opening it in an unbanked rural centre (URC).

Capital to get 25 lakh more houses in next 10 years

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Government will be notifying 89 urban areas as development areas to provide more space for construction of hospitals, schools, houses, and other infrastructure

Market Live: Sensex opens 150 pts higher, Nifty around 9500; ITC up 5%

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10:00 am New Listing: After witnessing a bumper subscription, state-run HUDCO listed at 21.5 percent premium at Rs 73.55 on the exchanges.

GST rate to lower prices of most products, boost consumption: Here's how experts decode move

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Making further progress on rolling out the Goods and Services Tax (GST) by 1 July, the GST Council on Thursday decided the tax rates for 1,211 items, a majority kept at 18 percent, though the rates on gold and beedi remained undecided.

CESC restructures biz, demerges into 4 cos; stock dips 15% on announcement

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RP Sanjiv Goenka Group today announced the restructuring of its flagship company CESC Ltd by splitting it into four companies.