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Outward remittances under LRS drop 14.88% in H1FY25, shows RBI data
on November 20, 2024 at 8:11 pm
The remittances for maintenance of close relatives fell by 37.17 per cent Year-on-Year (YoY) to $1.92 billion as compared to $3.05 billion […]
Why hybrids may fail to take off in India's evolving automobile market
on November 20, 2024 at 7:25 pm
A new report says EVs and CNG vehicles will outpace hybrids by far […]
Bengaluru Tech Summit: Draft Karnataka Space Tech policy launched
on November 20, 2024 at 7:25 pm
The draft policy lays down the overall vision of Government of Karnataka for the space sector which is to hold 50 per cent of the national market share and transform into a global destination of spac […]
Centre revises PLI scheme for directors, senior executives of PSBs
on November 20, 2024 at 7:11 pm
The government has introduced a revised performance-linked incentive scheme for senior executives of public sector banks, including return on assets and NPA levels among parameters. The eligibility of banks for the scheme will be assessed by a government-appointed committee on the basis of four parameters, including that Return on Assets (RoA) should be positive and lower net non-performing assets (NPA). In a circular, the finance ministry said the scheme, which aims to provide to suitably reward and motivate employees for significant value creation for various stakeholders, will be effective from financial year 2023-24. The committee, headed by Department of Financial Services (DFS) Secretary, will have Additional Secretary (DFS), Joint Secretary (Banking) and Chief Executive of Indian Banks' Association (IBA) as members. According to the communication, the panel shall assess the governance mechanism in the banks for the PLI evaluation period with respect to occurrences of any maj […]
EPFO net member addition rises 9.33% to 1.88 million in September
on November 20, 2024 at 7:08 pm
Retirement fund body EPFO logged 9.33 per cent growth in net member additions in September at 18.81 lakh compared to the year-ago month, showed payroll data released on Wednesday. Employees' Provident Fund Organisation (EPFO) enrolled around 9.47 lakh new members in September 2024, representing an increase of 6.22 per cent over September 2023, the labour ministry said. This surge in new memberships can be attributed to growing employment opportunities, increased awareness of employee benefits and EPFO's outreach programmes, it noted. According to the statement, EPFO has released provisional payroll data for September 2024, revealing a net addition of 18.81 lakh members. This represents a 9.33 per cent year-on-year (YoY) growth compared to September 2023, signifying increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO's effective outreach initiatives. A noticeable aspect of the data is the dominance of the 18-25 age group, which ... […]

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