The Economics Affair Secretary, Shaktikanta Das has stated that there is not any plan to introduce Rs 1000 notes, thus drawing a line to speculations in this regard.
New Executive Director for IOB
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K.Swaminathan has been appointed as Executive Director of public sector Indian Overseas Bank on Tuesday. In a notification to Mumbai Stock Exchange IOB has been mentioned: Government of India.
The Income Tax department will soon launch the second phase of its operation to find out whether black money has been deposited in the banks. The I-T department will appoint two data analytics firm for this job.
Mr. N. Chandrasekaran, as nominated earlier b the Tata Group, assumes office as the Head of the Tata Sons Group today (Tuesday, 21st February). Earlier, the former Head Mr. Cyrus Mistry had been removed from the office last year.
The National Egg Coordination Committee (NECC), Namakkal Zone, has fixed the wholesale price for eggs yesterday in a meeting. In the meeting, the purchase price of eggs from poultries was determined at 355 paisa.
Stringent regulations were imposed on withdrawing cash after the demonetization. Now, the Reserve Bank of India has announced that from 20th February (Monday), cash up to Rs. 50000/- per day can be withdrawn from the bank.
Know about Provident Fund better
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Your savings for retirement years is what you call Provident Fund. If you ask any financial planner, they would never ever suggest withdrawing money from your PF before getting retired.
The allowances committee led by Finance Secretary Ashok Lavas is reviewing allowances under 7th Pay Commission. The recommendations in this regard are likely soon.
Online settlement of EPF soon
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The Employees Provident Fund Organisation or EPFO will soon launch an online facility for settlement of claims, including EPF withdrawal and pension fixation. At present, retirement fund body EPFO receives close to 1 crore.
Just like the prevailing uncertain situation in the Indian Stock Market, the value of Indian Rupee also is unsteady. With the stock exchange opening today at 9.00 AM, the value of the India Rupee against the US Dollar went down by 4 paise and stood at Rs. 67.05.
According to the Payment of Wages Act, 1936, the wages to the employees should be paid by cash or coins or both. The central government after demonetizing the currencies encouraged people to go for cashless transactions.
The Union Cabinet has approved the merger of India’s leading State Bank of India with its associate banks. Very soon SBI will merge with its associate banks.
Following the launch of ambitious Nivaran facility for taxpayers’ online redressal, it is now the turn for the Income Tax Department to open windows at 60 special offices throughout the country.
The Centralised Processing Centre (CPC) of the Income Tax Department (ITD) at Bengluru has already processed over 4.19 crore Income Tax Returns (ITRs) and issued over 1.62 crore refunds during the current financial year.
