Govt to Assess Viability of Employees Pension Scheme

Govt to Assess Viability of Employees Pension Scheme The labour ministry looks to appoint an actuary to assess if the Employees’ Pension Scheme (EPS) is sustainable over a long term. The EPS, 1995 is one of the three schemes meant for old-age social security of employees run by the Employees’ Provident Fund Organisation (EPFO). The […]

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Investment Reviving, Growth to Speed Up in FY19: RBI Guv

Investment Reviving, Growth to Speed Up in FY19: RBI Guv Clearer signs that revival in investment activity will be sustained, Patel says at IMFC meeting The Indian economy gave a resilient performance in 2017-18 and the country’s growth is expected to accelerate in the current fiscal, RBI governor Urjit Patel has said. Although the real […]

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MCA zeroes in on 225,000 more suspected shell companies

MCA zeroes in on 225,000 more suspected shell companies P P Chaudhary said the ministry had received a report from the Institute of Chartered Accountants of India (ICAI) on systemic issues that led to the PNB fraud The government is intensifying its drive against shell companies. After taking action against 226,000 shell companies last year, […]

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Hawkish RBI minutes rattle currency, gilts; rupee plunges to 13-month low

Hawkish RBI minutes rattle currency, gilts; rupee plunges to 13-month low The market was nervous after Reserve Bank of India (RBI) Deputy Governor Viral Acharya gave hints of a policy tightening The jubilation over low first-half borrowing was short-lived for the bond market. The 10-year bond yield hit 7.79 per cent in Friday morning trade, […]

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PFRDA makes bank a/c, mobile number mandatory for NPS subscribers

PFRDA makes bank a/c, mobile number mandatory for NPS subscribers Pension fund regulator PFRDA has made bank account details and mobile number mandatory for subscribers of national pension scheme (NPS), the finance ministry said today. Further, in compliance with the Prevention of Money Laundering Act (PMLA) guidelines, the Pension Fund Regulatory and Development Authority (PFRDA) […]

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Delink provisional credit from tax payment, say stakeholders

Delink provisional credit from tax payment, say stakeholders Earlier, the GoM, headed by Bihar deputy chief minister Sushil Modi, had zeroed on two models of simplification In the effort to evolve a consensus over provisional input tax credit for the goods and services tax (GST), stakeholders have asked the group of ministers (GoM) on the […]

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Demonetisation led to highest fake currency, suspicious transactions

Demonetisation led to highest fake currency, suspicious transactions The country’s banks received an all-time high amount of fake currency and also detected an over 480 per cent jump in suspicious transactions post demonetisation, a first-ever report on dubious deposits made in the wake of the 2016 notes ban has revealed.The banks, including those in the […]

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Power regulatory bodies must have a judicial member: SC

Power regulatory bodies must have a judicial member: SC The Supreme Court ordered that one of the members of electricity regulatory commissions should be a person of judicial background, quashing orders of various high courts that the chairperson of such bodies in states should be a high court judge. The top court also said the […]

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