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…
Inequality in Arab society caused ‘Arab Spring’ – World Bank
As a part of the Middle East and North Africa Region (MENA) Economic Monitor series, World Bank released a report entitled ‘Inequality, Uprisings, and Conflict…
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…
Apple was ordered to pay $234 million to University of Wisconsin for infringing patent
A U.S. jury ordered Apple Inc to pay the University of Wisconsin-Madison’s patent licensing arm more than $234 million in damages for incorporating its microchip…
TRAI asked telecom operators to compensate for call drops from Jan. 1
Telecom Regulatory Authority of Indian (TRAI) made it mandatory for mobile service providers (MSPs) to compensate consumers call drops with effect from 1 January 2016….
China beat US in number of $-billionaires
China has beaten the US for the first time in being home to highest number of dollar billionaires, despite a slowdown in it’s economy. According…
Tata Housing tied-up with Facebook to sell its affordable homes online
Real estate developer Tata Housing has tied-up with social networking firm Facebook to sell its affordable homes online. For this purpose, Tata Housing launched the…