Page 2747 - Economy & Policy News

Crackdown on Ponzi schemes: Cabinet clears Bill to ban unregulated deposits

The current investor protection framework kicks in only after such schemes go bust

EPFO likely to retain 8.65% interest for 50 million members in 2017-18

The EPFO had announced this rate on deposits for 2016-17, a tad lower than 8.8 per cent in 2015- 16

Govt scales down estimate of exporters' GST refund claims by Rs 10 bn

Earlier estimate was Rs 65 bn in July-Oct period; revised estimate till Dec is Rs 55 bn; exporters upset over at inconsistency in figures

Yogi govt ropes in e-commerce giant Amazon to promote 'Uttar Pradesh Khadi'

Under the deal, Team Amazon to also train khadi artisans to sell their wares online to customers

RBI may tighten approvals for offshore borrowing to avoid any defaults

The Reserve Bank of India is spending more time scrutinizing companies' hedging practices

PNB scam: RBI says had issued warnings on possible misuse of SWIFT system

Employees of PNB are suspected to have steered fraudulent loans through the platform to overseas accounts

Workers demand Rs 15,000 minimum monthly pension under EPS-95 run by EPFO

It also demanded that on the demise of a formal sector employee, full pension should be given to the widow

Rotomac fraud: Bank of Baroda has exposure of Rs 4.56 billion

The bank said the account of Rotomac Global was declared a non-performing asset (NPA) or bad loan by it on October 3, 2015

PM Modi hard sells pro-farmer budget initiatives to help boost farm income

Modi mentioned about steps taken to lower cost of production, improve productivity and take farm produce to markets by minimising wastage

Non-predatory rules: Slightly negative for incumbents but Jio to gain

The Mukesh Ambani-owned company had also complained to Trai about incumbents offering segmented offers to different customers

Nasscom inks pact with Telangana to set up Centre of Excellence in AI, Tech

The CoE will catalyse the growth of the deep tech ecosystem in Telangana

ESIC draws plan to cover 100 mn formal sector workers under 'Vision 2022'

The vision envisages expansion of ESI Scheme in each district of the country with a target of covering 100 mn workers by 2022

Magnetic Maharashtra: MoU for Rs 2.17 bn defence facilitation centre inked

Chief Minister Devendra Fadnavis was present at the MoU signing ceremony, the official told PTI

Chit Funds sore about amendment bill, say it won't safeguard public money

Industry says bill will fail in objective of bringing unorganised players into organised net

Absence of policy will not hamper development of EVs, say auto-makers

MSI had announced that it planned to launch an EV in India by 2021

Cabinet nod to amend Chit Funds Act to aid orderly growth of sector

The Cabinet, chaired by Prime Minister Narendra Modi, has given approval to introduce the Chit Funds (Amendment) Bill, 2018 in Parliament

Relief for alumina units: OMC expects to open key bauxite mine in 2 months

Once the mine is operational, alumina units will be able to source the key but scarce input from the Odisha-govt owned firm

Investors Summit: Yogi looks for investment in defence manufacturing sector

CM Yogi has pegged investment potential in UP at Rs 1 trn

Rotomac fraud: After ED & CBI, I-T steps up action, attaches 11 bank a/cs

The Kanpur-based group is being probed by the CBI and the Enforcement Directorate in connection with an alleged bank loan fraud of Rs 36.95 billion

Indian software services growth to remain flat at 7-9% in FY19 too: Nasscom

Even on the hiring front, the outlook is dim with a 50% likely slip from 130,000-150,000 new jobs projected for FY18