Anti-Profiteering Provision of CGST Act Under SC Review
The Supreme Court has issued a notice to the Centre and the National Anti-Profiteering Authority on the constitutional validity of the anti-profiteering provision of the CGST Act. The provision requires companies to pass on the benefits of GST rate reduction or input tax credit to consumers by lowering the prices of goods and services. The […]
Paytm: OCL Investment Pending Govt Approval
Paytm, India’s leading fintech company, is facing a regulatory hurdle in its payment aggregator business. The company’s parent entity, One97 Communications Ltd (OCL), has not received the government’s approval for a downstream investment in its subsidiary, Paytm Payment Services Ltd (PPSL), which operates as a payment aggregator under the RBI guidelines. Paytm OCL investment: The […]
GROW Report and Portal: NITI Aayog New Launch
NITI Aayog, the policy think tank of the Government of India, has launched a new report and portal on Greening and Restoration of Wasteland with Agroforestry (GROW) on 12 February 2024. The report and portal aim to provide state-wise and district-wise analysis of agroforestry suitability across India, using remote sensing and GIS technologies. The report […]
AIIMS New Delhi Gets SBI SMART Payment Card
Patients visiting the All India Institute of Medical Sciences (AIIMS), New Delhi, can now avail the benefits of a smart payment card that will enable them to make cashless transactions at the hospital. The AIIMS-SBI SMART Payment Card was launched by Union Health Minister Dr. Mansukh Mandaviya on Monday, February 12, 2024, in collaboration with […]
DGCA Issues Runway Safety Guidelines, Urges Training
DGCA, the aviation watchdog of India, has issued a circular to prevent runway incursions after the Haneda airport incident in Japan last month. The circular outlines various measures to enhance runway safety and prevent collisions of planes on the runway. What is a runway incursion? A runway incursion is an incident where an unauthorized aircraft, […]
Assam Budget 2024: No New Tax, Rs 2.9 Lakh Crore Outlay
Assam Finance Minister Ajanta Neog on Monday tabled the state budget for 2024-25 in the Assam Legislative Assembly with an outlay of Rs 2.9 lakh crore and a deficit of Rs 774.47 crore. This is her fourth budget as the finance minister and she said it is a realistic budget that focuses on the development […]
SpiceJet to Lay Off 1,000 in Cost-Cutting Move
SpiceJet, one of India’s leading low-cost airlines, has announced that it will lay off around 1,000 employees, or 15% of its workforce, as part of its cost-cutting and turnaround strategy. The move comes after the airline received a fresh infusion of funds from an undisclosed investor. The airline said that the layoffs will help it […]
Rozgar Mela: PM Distributes 1 Lakh Appointments
Prime Minister Narendra Modi distributed over 1 lakh appointment letters to newly inducted recruits in various government departments and organisations under Rozgar Mela on February 12th, 2024. He also laid the foundation stone of Phase I of the Integrated Complex “Karmayogi Bhavan” in New Delhi. He said that the recruitment process has become completely transparent […]
SpiceJet to lay off 1,400 employees in cost-cutting measure
SpiceJet, one of India’s leading low-cost carriers, has announced that it will lay off 1,400 employees, which accounts for about 15% of its workforce. This move is aimed at reducing costs and attracting investors, as the airline has been facing financial challenges amid the pandemic. SpiceJet lay off due to salary delays and funding concerns […]
AePS Security: How RBI Plans to Combat Fraud
What is AePS Security and why is it popular? Aadhaar-enabled Payment System (AePS Security) is a biometric-based payment system that allows users to access their bank accounts using their Aadhaar number and fingerprint or iris scan. AePS enables users to perform basic banking transactions such as balance enquiry, cash withdrawal, cash deposit, fund transfer, and […]