New Delhi, Aug. 28: The Narendra Modi-government is removing independent directors appointed by the previous UPA regime on PSU boards, beginning with the sacking of four directors on the board of Indian Oil Corp. The four directors are K. Jairaj, Nesar Ahmad, Sunil Krishna and Sayan Chatterjee.
New Delhi, Aug. 28: Monthly pension under EPFO has been increased to Rs 1,000 per month and the wage ceiling has been increased to Rs 15,000 per month, expected to bring 50 lakh more workers under its ambit. The maximum sum assured under the Employees’ Deposit Linked Insurance Scheme has been raised to Rs 3 lakh. The new norms will come into effect from September 10.
New Delhi, Aug 28: The Central Board of Direct Taxes (CBDT) has set up a committee to scrutinise all income tax cases arising out of the retrospective tax amendment. It will decide on such cases within of 60 days of receiving them from the assessing officer.
New Delhi, Aug 28: India’s persistently high inflation is weighing on its economic recovery and has constrained its sovereign rating, Moody’s said. It said food inflation was much higher than the global average and was a key contributor to the overall inflation. WPI inflation in July stood at 5.19 per cent, while food inflation was 8.43 per cent.
New Delhi, Aug 28: Sebi today said offenders in illegal money pooling schemes could no longer ignore its orders and drag on cases for years as the new law would fast-track action against them and ensure refunds to investors.
