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  • Strong wage policies needed to promote inclusive growth in India: ILO’s India Wage Report

    Despite India being one of the first countries to introduce minimum wages through the Minimum Wages Act, 1948, challenges still exist in providing a universal wage floor for all workers.

    Aug 22, 2018
  • NITI Aayog launches ‘Pitch to MOVE’ for startups

    NITI Aayog has launched ‘Pitch to MOVE’, a mobility pitch competition that aims to provide budding entrepreneurs of India with a unique opportunity to pitch their business ideas to a distinguished jury. The competition would enable startups working in the various fields of mobility to pitch their ideas to industry leaders and venture capitalists for raising investments.

    Aug 14, 2018
  • Government dismisses Allahabad Bank CEO Usha Ananthasubramanian from service

    The Union Government has dismissed Usha Ananthasubramanian, former CEO/ MD of Allahabad Bank and scam hit Punjab National Bank (PNB), from service. The bank had earlier divested Ananthasubramanian of all her powers as MD three months back, after she was named in the CBI charge-sheet in the Rs 14,000 crore PNB fraud case.

    Aug 14, 2018
  • IRDAI constitutes working group to review norms for insurance surveyors

    The Insurance Regulatory and Development Authority of India (IRDAI) on August 13, 2018 constituted a working group to update the norms for insurance surveyors. The working group, which will comprise 7 members, has been formed to address areas pertaining to licensing, renewal and IIISLA membership.

    Aug 14, 2018
  • Parliament passes Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018

    The Bill allows the withdrawal of a resolution application submitted to the National Company Law Tribunal (NCLT) under the Code. This decision can be taken with the approval of 90 percent of the committee of creditors.

    Aug 11, 2018
  • SEBI should seek power to tap phone calls: TK Viswanathan Committee

    The committee says, “Currently there are several methods of electronic communication apart from telephone calls which are fairly widely used…, interception of electronic communication should also be covered in the powers being sought”.

    Aug 10, 2018
  • Lok Sabha approves government’s additional expenditure demand of Rs 11,698 cr

    The Lok Sabha has passed the Supplementary Demands for Grants for the fiscal year 2018-19, in which Government had sought additional expenditure of Rs 11,698 crore. The account of expenditure includes a sum worth Rs 1,792 crore to be allocated to the Agriculture Ministry.

    Aug 8, 2018
  • Government appoints S Gurumurthy, Satish Marathe as part-time Directors on RBI Board

    Both Gurumurthy and Marathe have been appointed for a four year term. Their names were proposed by the Department of Financial Services of the Union Ministry of Finance.

    Aug 8, 2018
  • Startup India launches Academia Alliance Programme

    Startup India has launched the Startup Academia Alliance programme, which is a unique mentorship opportunity between academic scholars and startups working in similar domains. The initiative aims to reduce the gap between scientific research and its industrial applications in order to increase the efficacy of these technologies and widen their impact.

    Aug 6, 2018
  • GST Council forms Sub-committee on MSMEs to consider tax relief for small businesses

    The group will examine all the proposals regarding tax relief for Micro, Small and Medium Enterprises (MSME) and make recommendations to the Council. The group will submit its report in the next six weeks.

    Aug 6, 2018
  • NITI Aayog launches ‘Move Hack’, global mobility hackathon

    NITI Aayog has launched ‘Move Hack’, a global mobility hackathon to crowd source solutions aimed at the future of mobility in India. The hackathon, which is envisaged to be one of the largest globally, will be focused on ten themes.

    Aug 3, 2018
  • RBI releases Third Bi-monthly Monetary Policy Statement 2018-19

    The RBI projected the inflation at 4.8 percent in second half of 2018-19 and 5.0 percent in Q1 of 2019-20, with risks evenly balanced. The bank cited government’s decision to increase the Minimum Support Price (MSP) for Kharif crops as the primary factor causing increase in inflation.

    Aug 2, 2018
  • US elevates India’s status to ease export controls for high-tech product sales

    The United States has eased export controls for high-technology product sales to India by elevating its status to a Strategic Trade Authorisation-1 (STA-1) country. With the move, the United States has granted India the same access as NATO allies, Australia, Japan and South Korea.

    Jul 31, 2018
  • Parliament passes Bill for merger of five subsidiary banks with SBI

    The Bill seeks to repeal the State Bank of India (Subsidiary Banks) Act, 1959, the State Bank of Hyderabad Act, 1956. These Acts established the State Bank of Bikaner, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore, and State Bank of Hyderabad, the subsidiaries of the SBI.

    Jul 31, 2018
  • Government sets up panel to resolve issues of stressed thermal power assets

    The Union Government has decided to set up a High-Level Empowered Committee headed by Cabinet Secretary to address the issue of stressed thermal power assets. The Government has asserted that the stressed thermal power assets are a cause of concern for the country.

    Jul 30, 2018