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.
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.
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.
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.
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.
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).
Government will be notifying 89 urban areas as development areas to provide more space for construction of hospitals, schools, houses, and other infrastructure
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.
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.
RP Sanjiv Goenka Group today announced the restructuring of its flagship company CESC Ltd by splitting it into four companies.