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  • 16-Feb-2019
  • Expert Committee Recommends Rs 9,750 Monthly National Minimum Wage

    The Expert Committee led by Anoop Satpathy, Fellow of V. V. Giri National Labour Institute (VVGNLI), submitted its report on “Determining the Methodology for Fixation of the National Minimum Wage” to the Government.
    It recommended the fixation of need-based National Minimum Wage (NMW) for India at Rs 375 per day or Rs 9,750 per month irrespective of sectors, skills, occupations and rural-urban locations for a family comprising of 3.6 consumption units. The Present NMW is Rs. 4,576.
  • 30-Jan-2019
  • RBI To Inject Rs 37,500 Crore Through OMO In February

    The Reserve Bank of India has stated that it will inject Rs 37,500 crore into the system through the purchase of government securities in February to increase liquidity.
    RBI stated that it has decided to conduct the purchase of government securities under Open Market Operations (OMOs) for an aggregate amount of Rs 375 billion in the month of February 2019.
  • India Ranks 54th In 'Bloomberg Innovation Index’ Of 60 Economies

    India has been ranked in Bloomberg’s 2019 list of most innovative countries in the world - 2019 Bloomberg Innovation Index - for the first time ever. India has grabbed the 54th spot with a score of 47.93 out of 100 in the Innovation Index of 60 economies.
    South Korea has topped the Index for the sixth time in a row with a total score of 87.38, followed by Germany and Finland.
  • 22-Jan-2019
  • China's Economy Grew At 6.6% In 2018, Slowest Rate In 3 Decades

    China's economy grew at 6.6% in 2018, its slowest rate in almost 3 decades. The world's 2nd biggest economy was grappling with the effects of the current trade war with the US and declining exports.
    In the 3 months to December, the economy grew 6.4% from a year earlier, down from 6.5 %in the previous quarter. China's National Bureau of Statistics (NBS) stated that last year's growth rate was down from 6.8% in 2017 and was the lowest since 1990 when the growth rate was 3.9%.
  • 21-Jan-2019
  • Nepal’s Central Bank Announces Ban of Indian Notes Above Rs100

    Nepal’s central bank has banned the use of Indian currency notes of Rs 2,000, Rs 500 and Rs 200 denominations, a move that could affect Indian tourists visiting the Himalayan nation where Indian currency is widely used. 
    Nepal Rastra Bank issued a circular prohibiting Nepali travellers, banks and financial institutions from holding or carrying and trading Indian bank notes higher than Rs 100.
  • 12-Jan-2019
  • GST Registration Threshold Limit Increased To Rs 40 Lakh

    The 32nd Meeting of GST Council was concluded in New Delhi. The Limit of annual turnover for composition scheme increased to 1.5 crore rupees effective from April 1, 2019.
    The Council has decided to increase the GST registration threshold limit to 40 lakh rupees from 20 lakh. The Taxpayers who are giving Services of up to Rs 50 lacs per annum will be taxed under 6% under Composition Scheme.

  • 07-Jan-2019
  • All You Need to Know About New Rs10 Banknote in Mahatma Gandhi Series

    The Reserve Bank of India has announced to issue Rs10 denomination banknotes in the Mahatma Gandhi (New) Series. The new denomination has the motif of Sun Temple, Konark on the reverse, depicting the country's cultural heritage.
    The base colour of the note is Chocolate Brown. The dimension of the banknote will be 63 mm x 123 mm.

  • 05-Jan-2019
  • NGT Imposes Rs 100 Cr Fine On Meghalaya Govt

    The National Green Tribunal has imposed a fine of 100 crore rupees on Meghalaya government for its failure to curb illegal coal mining in the state.
    The amount of the fine has to be deposited with the Central Pollution Control Boardwithin two months. The action comes after a high-level committee submitted an adverse report to a bench headed by NGT chairperson AK Goel.

  • 31-Dec-2018
  • Pakistan Cabinet Approves Issuance Of 'Panda Bonds' In Chinese Currency

    Pakistan's cabinet has approved the issuance of first-ever renminbi-denominated 'Panda Bonds' to raise loans from China's capital markets, as the country moved a step forward to give the Chinese currency status at par with the US dollar.
    The Finance Ministry did not seek the Cabinet's nod for the size of the bond, but it expects to raise $500 million to $1 billion in various tranches.

  • 25-Dec-2018
  • PM Modi Unveiled Projects Worth Rs 14,500 Crore In Odisha

    Prime Minister Narendra Modi will launch a host of projects besides dedicating the new campus of IIT Bhubaneswar to the nation during his one-day visit to the State on December 24.
    He will lay the foundation stone for the Indian Institute of Science Education and Research (IISER), Berhampur from the IIT campus. On the occasion of bicentenary celebration of the historic Paika Rebellion, the Prime Minister will also release commemorative coin of Rs 200, postage stamp and inaugurate a Chair at Utkal University in memory of Baxi Jagabandhu who led the country’s first independence movement.

    Briefing the media on the PM’s visit jointly with Union Minister of State for Culture Mahesh Sharma in New Delhi on Thursday, Union Minister for Petroleum and Natural Gas Dharmendra Pradhan said Modi will lay foundation stones for several infrastructure projects worth Rs 14,523 crore during his visit.

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