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Nestle states to the consumer commission that it is out off Maggi noodles ban case - 30-Sep-2015
It was stated by the Nestle India Limited to the apex consumer commission that it was being "singled out" by the government in the Maggi noodles ban case as no action was being taken against other manufacturers of similar products. The High Court of Bombay had set aside the countrywide ban on Maggi. The company also recollects the National Consu read more
Rate cut by 0.35 per cent to 9.50 per cent by Axis Bank - 30-Sep-2015
Axis Bank accompanied others in the system by revising its base rate or the minimum rate of lending by 0.35 per cent to 9.50 per cent. The change will become effective from October 5. This is third rate cut, following a 0.20 per cent cut in April and a 0.10 per cent cut in June. This came into picture after the RBI's monetary policy announcement read more
Cut in repo rate for better economy - 29-Sep-2015
RBI's decision to cut repo rate is accepted by the Finance Minister Arun Jaitley. He stated that the decision will aid in the recovery of the economy. The government is committed to meeting its fiscal deficit targets, he said. It is understood by the RBI rate cut that inflation has moderated significantly and is now in the comfort zone. RBI cut read more
Independence to public sector banks from the domination of political decision-making - 28-Sep-2015
Arun Jaitley, Finance Minister said that public sector banks require freedom from political decision-making. While speaking at banking industry event he stated that there are chances that the areas of brick and mortar lose importance as alternative channels like online are coming up. It is important that public sector banks have to be given inde read more
Seventh Pay Commission will submit its report for government employees soon - 23-Sep-2015
The Finance Ministry will soon get a report by the Seventh Pay Commission who is on toes with its new suggestions for nearly 48 lakh central government employees and 55 lakh pensioners. The government had extended the time for few months for the Commission to give recommendations. The Commission's recommendations may also include the salaries of read more
A call to sort out the call drops problem by TRAI - 23-Sep-2015
Telecom Regulatory Authority of India has planned to test the networks in Delhi and Mumbai from September 28 to check whether operators have taken proper calls to address the call drops menace. On September 9, a meeting was held with the CEOs of telecom operators after which the regulator had given 15 days time to the telecom operators for takin read more
Writ Petition in the Bombay HC challenging Marathi speaking rule - 22-Sep-2015
Saeed Zakir, the petitioner, has filed a writ petition in the High Court of Bombay against the government's decision to issue licences for autorickshaws only to those who are able to speak Marathi. He says that this is void and unconstitutional. It is stated by the petition that the Motor Vehicle Act, 1988 also do not include any rule saying kno read more
Non-Marathi people have got maximum taxi permits - 22-Sep-2015
Devendra Fadnavis, chief minister said to a BJP delegation that almost 70% of taxi permits in the last year were allotted to people who are non-speakers of Marathi. This came into a picture when Diwakar Raote, state transport minister stated on one's primary requirement of knowing Marathi in order to get an auto permit in Mumbai. The delegation read more
Maharashtra: Simple method for obtaining licences - 21-Sep-2015
Maharashtra home department is planning to simplify provisions for obtaining licences under Maharashtra Police Act. The department has decided to amend the Act so as to bring in more transparency and time-saving system. Vijay Satbir Singh, additional secretary (home) said that unwanted procedures create unnecessary problems in procuring licences read more
Bombay HC did not relax the ban on beef sale - 21-Sep-2015
The high court of Bombay refuses to relax the ban on sale of beef in Maharashtra for Bakri Eid. Slaughtering of bulls and bullocks was the main plea for September 25, Bakri Eid and also for the next two days. One of the explanations behind seeking a relaxation on ban was that sacrificing a bull is more economical than sacrificing goats. The plea read more
Aadhaar is important and not the shortcuts, says Raghuram Rajan - 19-Sep-2015
Raghuram Rajan, RBI Governor sought a clearer picture on the Supreme Court ruling on the issue of Aadhaar cards. He stated that Aadhaar cards will be helpful to a person who's capable of getting credits and thereby making him independent. Rajan said that the Supreme Court ruling noting Aadhaar card is not mandatory incase of benefits or credits read more
Supreme Court: No force on meat ban - 18-Sep-2015
A plea against the Bombay High Court order staying a ban on the sale of meat in Mumbai during a Jain festival was dismissed by the Supreme Court. The Supreme Court stated that the care and the concern towards animals need not be observed only at the arrival of the festivals. The Court also stated that tolerance is important and anything cannot b read more
Rate cut by RBI due to food prices going up being negligible - 18-09-2015
It has come to hear that the Reserve Bank of India is planning to cut the rate as the rise in food prices is negligible, says the State Bank of India. Arundhati Bhattacharya, SBI chairperson stated that there is a place for rate cut in India. She also said that a bad pressure on read more
Stay on Greenpeace India Society by the Madras HC - 17-Sep-2015
The Madras High Court had granted an eight weeks interim stay on the cancellation of the NGO's registration under Foreign Contribution Regulations Act for Greenpeace. The organization had said the Madras HC that it's planning to withdraw its existing case in the Delhi High Court against the temporary suspension of its FCRA. This was said when th read more
EXIM Bank: Concession in finance to Indian companies for outdoors projects - 16-Sep-2015
Exim Bank has determined to give concessional loans to the companies of India. The loans will be for companies who bids for infrastructure projects outside India. Financing will vary from case to case by a committee chaired by Department of Economic Affairs Secretary. India includes many experts in the field of infrastructure projects. Expertise read more
In Mumbai, autorickshaw permits will be only with people speaking Marathi - 15-Sep-2015
The government has announced that only person who can speak Marathi and who is a domicile resident of Maharashtra can get the permission to run an autorickshaw. Applicant should also have an educational qualification of atleast 8th standard pass class. The Department of the Maharashtra state transport has expressed to issue new one lakh autorick read more
Ban on selling of meats on Sept 17 by the Bombay High Court - 14-Sep-2015
The HC of Bombay stayed the ban on meat sale in Maharashtra on September 17. However, the court has refused to restrict putting ban on slaughter of animals on that day. The state of Maharashtra had unable to prove that the BMC and the government circulars, issued in 2004, have led to a full execution on the ban on sale of meat in the eight-day c read more
AI pilots voted in support of a strike against not considering pilots as "workmen" - 14-Sep-2015
Air India pilots wanted to go on a strike in order to protest against new rules that crop their right to fight and remove them from the unions. The strike is supported by 80% of the people who voted. The ministry of labour's fresh notification stopped considering senior pilots as 'workmen', thereby snatching away their right to strike. There are read more
Government, aiming to supply relief to steel domestic producers, beats 20% import duty - 14-Sep-2015
The government declared to impose 20% provisional safeguard duty on certain categories of steel directing to supply relief to domestic producers and curb imports. Arun Jaitley, finance minister stated that an overflow in the business of steel imports has resulted in a loss to the domestic production. Ministry of Finance said that the directorate read more
A new base is fixed by India Post to operate payments bank - 14-Sep-2015
India Post focuses on setting up a 100% subsidiary company to operate a payments bank. Through Payment Banks retail customers will get most of the banking services except loans and credit card facilities. The said licence was granted by the Reserve Bank of India. A subsidiary is mandatory as India Post is a lender to the government, thereby not read more
PM Modi contradicts to Congress chief Sonia Gandhi's statement on 'hawa baazi' - 11-Sep-2015
Prime Minister Narendra Modi has replied strongly saying 'hawalabaaz' is just a wall. He replied to Sonia Gandhi who had said he pours only empty talks, by saying that 'hawalabaaz' are under the fear of danger now as NDA government has launched stringent laws on black money. Due to this government's action logjam is being created so that they di read more
Broadened online services towards Birth and Death Certificates - 10-Sep-2015
Maharashtra government is widening its e-services for issuing certificates relating to caste, birth and death. Under online Right to Services Act, the state government will provide 50 of the 150 services. PS Meena, Additional chief secretary, general administration department stated that home delivery will be there for the applied caste, death a read more
Pensions for Soldiers - 10-Sep-2015
One Rank, One Pension's declaration brings into notice "pension costs." Recent decision of OROP generated a five-year normalisation and not annually because of the need for the government to get an idea how pension costs evolve after OROP. OROP puts that armed forces personnel, jawans and officers retire early unlike others, which, inturn leads read more
New programme for trading's exporters and importers - 09-Sep-2015
An online certificate programme for exporters and importers has been launched by the Commerce Ministry. The ministry said that the programme 'Niryat Bandhu @ Your Desktop' will help the import-export traders to get the better idea of trading. The certificate programme was launched by Commerce Secretary Rita Teaotia under the Niryat Bandhu Scheme read more
Hiked DA will benefit government employees and pensioners - 09-Sep-2015
Government has hiked dearness allowance to 119%, up six percentage points, coming into an effect from July 1. This step of the government will be beneficial to over one crore government employees and pensioners. The proposal was accepted by the Union Cabinet. 6th Pay Commission's formula has worked for the hike; which will benefit 48 lakh govern read more
Green signal by the government for telecos' spectrum trading norms - 09-Sep-2015
The much-awaited spectrum trading norms for telecom companies is been approved by the Union Cabinet. Telecom minister Ravi Shankar Prasad said that Telcos could now enter into spectrum trading by informing the government 45 days in advance and that a total of 1% trading fee will be levied on the traders. The government-owned spectrum can now be read more
Step up for investments, Step up for risks - 08-Sep-2015
Prime Minister Narendra Modi advised India to take risks at a level ahead and increase investments too for betterment of carrying business and economy. Whereas several other industry experts pitched for interest rate cut stating it would be helpful in taking risks and increasing investments. Assocham president, Rana Kapoor said that Prime Minist read more
UCBs not happy with the RBI's proposals - 07-Sep-2015
The RBI committee's report is rejected by the federation of urban cooperative banks stating that its changes for them will give an adverse picture to them. A general body meeting has passed a resolution to reject RBI's recommendation, specifically relating to conversion of urban cooperative banks, Mukund Abhyankar, Chairman of the National Feder read more
OROP - Demand-met and Demand-left - 07-Sep-2015
The defence minister Manohar Parrikar declared that the government was accepting the 42-year-old demand by veterans for one-rank one-pension, thereby removing the inconsistencies in pensions for veterans. The veterans, however, are not fully satisfied with the announcement, and have said that they will continue to protest till all their demands read more
RBI on its arbitrary feet in approving 11 applicants for payments banks - 06-Sep-2015
BJP leader Subramanian Swamy says RBI's decision to give "in principle" approval to 11 applicants for payments banks is arbitrary and Governor Raghuram Rajan must be prosecuted. As per him the manner in which 11 applicants were short-listed is inconsistent with the rule of law. Further, it is not clear how the RBI came to the number of 11 paymen read more
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