ESIC Expands Healthcare: Superannuated Members Now Eligible
What is the ESIC Scheme? The Employees’ State Insurance Corporation (ESIC) is a statutory body that provides social security and health insurance to workers in India. The ESIC scheme covers workers earning up to Rs 30,000 per month and provides them with medical care, cash benefits, maternity benefits, disability benefits and pension benefits. Who are […]
Road Projects Streamlined: Deemed Approval Speeds Up DPR Process
The Ministry of Road Transport and Highways (MoRTH) has taken a major step to streamline the process of preparing Detailed Project Reports (DPR) for highway projects in the country. The ministry has issued a circular on 9 February 2024, stating that DPRs submitted by consultants will be deemed to be approved if no comments or […]
Fertilizer Subsidy Surge: Govt Spends ₹1.71 Trillion
The government has spent nearly ₹1.71 trillion on fertilizer subsidy in the first ten months of the current fiscal year, according to the minister of state for fertiliser Bhagwanth Khuba. This is 91% of the revised estimate of ₹1.88 trillion for 2023-24, which is down 25% from a record of ₹2.51 trillion in FY23 due […]
JSW Sparks ₹40,000 Crore EV Engine in Odisha
JSW Group, one of India’s leading conglomerates, has announced its entry into the electric vehicle (EV) sector with a massive investment of Rs 40,000 crore in Odisha. The group has signed a memorandum of understanding (MoU) with the Odisha government to set up an integrated EV and EV battery manufacturing project at Cuttack and Paradip. […]
Spectrum Sale ,Govt Clears Rs 96K Crore
The government has approved the sale of spectrum across eight frequencies with a reserve price of Rs 96,318 crore, aiming to enhance consumer mobile services and facilitate 5G expansion in the country. The cabinet also decided to allot spectrum for safety of railway and metro passengers, apart from re-farming of the airwaves for better utilisation […]
ADB, India Ink $200M Loan for Brahmaputra Project
The Asian Development Bank (ADB) and the Government of India have signed a $200 million loan agreement to strengthen flood and riverbank erosion risk management along the 650 km long main stem of the Brahmaputra river in Assam . The loan will support the Climate Resilient Brahmaputra Integrated Flood and Riverbank Erosion Risk Management Project […]
Tax-Efficient Pension Product by ICICI Prudential
ICICI Prudential Life Insurance, one of the leading private life insurers in India, has launched a new retirement savings product, ICICI Pru Gold Pension Savings. This product is designed to help customers build a tax-efficient retirement corpus and enjoy a regular income for life after retirement. What is ICICI Pru Gold Pension Savings? ICICI Pru […]
MSME Loans: RBI’s KFS Move Applauded for Transparency
The Reserve Bank of India (RBI) has announced a new measure to increase the transparency and fairness of lending practices for retail and MSME borrowers. The RBI has mandated that all regulated entities, such as banks and NBFCs, provide a Key Fact Statement (KFS) to their customers before signing a loan agreement. The KFS is […]
Offline E-Rupee Transactions Coming Soon: RBI
The Reserve Bank of India (RBI) has announced that it will introduce offline functionality for e-rupee transactions, which will enable users to make payments in areas with poor or limited internet connectivity. The e-rupee is the digital version of the Indian currency, which is officially known as Central Bank Digital Currency (CBDC). The RBI launched […]
SEBI Bans 10 Entities for Share Rigging on TV Show
SEBI, the market regulator of India, has taken strict action against 10 entities, including market experts, research analysts, and guests appearing on Zee Business, a popular business news channel. The regulator has accused them of indulging in fraudulent and unfair activities by ‘influencing innocent investors’ through their stock recommendations on the channel. How did they […]