Coal India Gives 20% Pay Hike To 3 Lakh Employees

October 11, 2017

Every fifth year at both Coal India (CIL) and Singareni Collieries Company Limited (SCCL), there is revision of the wages of the employees. New Delhi: State-owned Coal India on Tuesday said it signed a wage agreement with workers’ unions at a 20 per cent hike in salaries for a period of five years. Coal India, the world’s largest coal miner, said the wage hike would have an estimated impact of…

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Govt reduces GST rates on 27 items: What got cheaper

October 10, 2017

The Goods and Services Tax Council on Friday reduced rates for 27 items as it rushes to address growing criticism of its stewardship of Asia’s third-largest economy. Addressing the media persons that GST rate on many daily-use items have been reduced, including man made yarn, unbranded namkeen, stones used in flooring and diesel engine parts, among others. The Finance Minister also hinted that tax on eating out is being reconsidered…

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How To Avail SBI’s Phone Banking Services In Simple Steps

October 10, 2017

Transferring funds within SBI accounts from 8 am to 8 pm is one of the many services offered by the bank’s phone banking facility. Phone banking has brought banks to your doorsteps. All you need is a mobile phone and you can do almost all your bank transactions without having to visit a Bank. State Bank of India (SBI) in a bid to educate account holders on how to register…

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Indian Railways puts an end to VIP culture with new norms

October 10, 2017

The Railway Ministry has asked its senior staff to slug it out – at home and at work – as part of steps to end the VIP culture in India’s national transporter. New Delhi: The Railway Ministry has asked its senior staff to slug it out – at home and at work – as part of steps to end the VIP culture in India’s national transporter. In an unprecedented move,…

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54,000 Petrol Pumps To Go On Strike: Here’s Why

October 10, 2017

Dealers want the government to bring petrol and diesel under the GST regime. Around 54,000 petrol pumps across the nation will go on a 24-hour strike from midnight on October 13, United Petroleum Front (UPF), a petroleum dealers association said. The nation-wide strike is being called to press for various demands including better margins and inclusion of petroleum products under the Goods and Services Tax. UPF represents over 54,000 dealers…

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New Limit for Reporting Gold Transactions Soon: Govt

October 9, 2017

The government had on Friday reversed its August order of bringing gems and jewellery dealers under the purview of the reporting requirement of the Prevention of Money Laundering Act (PMLA). New Delhi: The government will soon notify a new threshold for reporting to authorities about transactions in gold and other precious metals and stones with a view to curb parking of black money in bullion, Revenue Secretary Hasmukh Adhia said….

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Five Benefits Of PPF, EPF Accounts You May Not Be Aware Of

October 9, 2017

Financial planners discourage early withdrawal from EPF, which is administered by EPFO. PPF remains one of the most popular small savings schemes. PPF (public provident fund) is one of the most popular small-savings schemes. On the other hand, an employee provident fund (EPF) ¬†account is opened by the employer on behalf of the employee. Employees’ Provident Fund Organisation (EPFO), which administers the EPF scheme, has taken many initiatives to ease…

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Railway tickets may get cheaper for passengers booking online

October 9, 2017

Railway tickets are likely to get cheaper as the government is trying to do away with MDR or merchant discount rates levied on e-tickets. MDR charges are applied on tickets that passengers book online through the IRCTC website. The MDR charges are imposed by banks on the merchant for providing debit and credit card services. Railway Minister Piyush Goyal mentioned that talks are underway with banks to resolve this issue…

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Delay In Filing Insurance Claim No Reason To Reject It, Says Supreme Court

October 9, 2017

The decision of the insurer to reject the claim has to be based on valid grounds, the apex court said. New Delhi: Insurance claims cannot be rejected if the reason for delay in filing it is satisfactorily explained, the Supreme Court has said while granting relief to a man who was denied the claim for his stolen vehicle. A bench of Justices R K Agrawal and S Abdul Nazeer said…

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Exporters’ Pending GST Refunds To Be Cleared In Two Months, Says Government

October 9, 2017

Over the next six months no tax will be levied on exports, the GST Council decided on Friday. New Delhi: The government will clear pending GST refunds of exporters by November-end and over the next six months no tax will be levied on exports as the Council has decided to revert to the pre-GST era, Revenue Secretary Hasmukh Adhia said. Over July-August, an estimated Rs. 67,000 crore has accumulated as…

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Flipkart Pre-Diwali Sale: This Is How To Avail Rs. 2,000 Cashback

October 7, 2017

Under the Axis Bank cashback scheme, the amount earned as cashback will be credited to the customer’s card account by January 10, 2018, according to Flipkart, whose festive season sale – called Festival Dhamaka Days Sale – ends on October 8, 2017. Flipkart is offering a cashback of 10 per cent in a limited-period scheme. Flipkart, which kicked off a festive season sale – called Festive Dhamaka Days – on…

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Do NRIs Need To Link Aadhaar Card With Bank Account, PAN? What UIDAI Says

October 7, 2017

The Unique Identification Authority of India (UIDAI) has explained whether it is mandatory for NRIs or OCIs (Overseas Citizens of India) holding accounts in India to get their Aadhaar card linked by the December 31 deadline. The Aadhaar number – the 12-digit Unique Identification Number (UID) on Aadhaar Card – is to be mandatorily linked with your bank account by December 31, 2017. Do NRIs or non-resident Indians also need…

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