The Reserve Bank of India (RBI) on 3 December 2015 announced revised Priority Sector Lending (PSL) norms for Regional Rural Banks (RRBs). As per these…
Seventh Pay Commission recommended average 23% hike in salary of Government Employees
The seventh pay commission headed by justice (retired) AK Mathur, presented its 900-page report to finance minister Arun Jaitley. Commission has recommended an average 23.55%…
Indian Govt eased FDI norms in 15 major sectors, including defence, civil aviation
Pushing ahead with major reforms, the government of India relaxed foreign investment rules in 15 sectors such as civil aviation, banking, defense, retail and news…
Indian Government decided to impose 0.5% Swachh Bharat Cess on all services
Union Ministry of Finance on 6 November 2015 decided to impose 0.5 percent Swachh Bharat Cess (SBC) on all taxable services. The tax will be…
Sharp rise in prices of Pulses and Onion increased the burden of inflation on Commaon Man in India
The sharp rise in prices of pulses added to the burden of inflation being faced by Indian citizens. The government attributed this to shortage in…
India signed 123.51 Million US dollar Loan Agreement with Asian Development Bank
India signed a 123.51 million US dollar loan agreement with Asian Development Bank (ADB) to upgrade tourism infrastructure and services in Punjab, Uttarakhand and Himachal Pradesh.
PM Narendra Modi announced a new campaign “Start-up India, Stand up India”
In his Independence Day Adress Prime Minister Narendra Modi launched a new campaign with the name “Start-up India, Stand up India”.
Wholesale inflation in India lowest since 1976
Wholesale prices has fallen for the ninth consecutive month in July on the back of a decline in food and fuel prices, raising prospects of a cut in interest rates to give a push to growth.
Govt of India started overhauling PSU banks by appointing private sector executives in top positions
The Central government of India announced an overhaul of public sector banks. As a part of this process, the government drafted executives from the private sector to run at least two state-run lenders, for the first time since nationalization.
RBI paid government Rs 66,000 cr in dividend
The Reserve Bank of India paid a dividend of nearly Rs 66,000 crore to the government. The amount is the highest ever in the central bank’s 80year history, and 22% more than it paid last year.