Skip to main content

ESIC hikes wage limit to bring more workers under net

By
In a bid to bring more workers from unorganised sector under the health insurance scheme,the Employees State Insurance Corporation has increased the monthly wage limit to  Rs.21,000,Labour Minister Bandaru Dattatreya( pictured )said on Sunday.“Coverage under ESIC scheme was enhanced to Rs.15,000 in 2010.Now,government has taken a decision to hike the coverage from Rs.15,000 to Rs.21,000,”he said.He said the government was also strengthening the health infrastructure for the benefit of workers.The upward increase in revision would add about 3.5 million new members to the ESIC pool.
The  government is keeping a close watch on temperature-sensitive wheat cropas the Met Department has predicted warmer winter this year, Agriculture Secretary ShobhanaK Pattanayak  said  on Sunday. He also said the ongoing rabisowing has not been impacted much due to demonetisation.A central team sent to rural areas has found no significant impact on so wings of ar.Sowing of wheat,the main rabi(winter)crop,commenced from October and will continue till the month-end. Harvesting of the crop will start from April onwards.  India presses Iran to award Farzad-Bfield to OVL India has nudged Iran to quickly award rights to develop the coveted Farzad-Bgas field in the Persian Gulf to ONGCV idesh by wrapping up negotiations that have been dragging on for months.Oil MinisterDharmendra PradhanmetIranianForeignMinister MohammadJavadZarifonSaturdaytopress foraward of rights to develop the field,which was discovered by OVL,at the earliest.“Our relationship is much more than a usual (bilateral)relationship,”Pradhansaid.“We stood by them (Iran) in their difficult times(US and westerns anctions)and continued to buy oil from them.
Business Standard New Delhi,05th December 2016

Comments

Post a Comment

Popular posts from this blog

Credit card spending growth declines on RBI gaze, stress build-up

By
  Credit card spends have further slowed down to 16.6 per cent in the current financial year (FY25), following the Reserve Bank of India’s tightening of unsecured lending norms and rising delinquencies, and increased stress in the portfolio.Typically, during the festival season (September–December), credit card spends peak as several credit card-issuing banks offer discounts and cashbacks on e-commerce and other platforms. This is a reversal of trend in the past three financial years stretching to FY21 due to RBI’s restrictions.In the previous financial year (FY24), credit card spends rose by 27.8 per cent, but were low compared to FY23 which surged by 47.5 per cent. In FY22, the spending increased 54.1 per cent, according to data compiled by Macquarie Research.ICICI Bank recorded 4.4 per cent gross credit losses in its FY24 credit card portfolio as against 3.2 per cent year-on-year. SBI Cards’ credit losses in the segment stood at 7.4 per cent in FY24 and 6.2 per cent in FY23, the...
Post a Comment
Read more

SFBs should be vigilant, proactive to mitigate risks: RBI deputy guv

By
  The Reserve Bank of India’s Deputy Governor Swaminathan J on Friday instructed the directors of small finance banks (SFBs) to be vigilant and proactive in identifying emerging risks in the sector.Speaking at a conference for directors on the boards of SFBs, Swaminathan highlighted the role of governance in guiding SFBs towards sustainable growth with stability. He also emphasised the importance of sustainable business models.Additionally, he highlighted the need for strengthening cybersecurity to protect the entities against digital threats and urged for a stronger focus on financial inclusion, customer service, and grievance redressal to ensure a broader reach of banking services.Executive Directors S C Murmu, Rohit Jain, and R L K Rao, along with other senior officials representing the Supervision, Regulation, and Enforcement Departments of the RBI, also participated in the conference.   -  Business Standard  30 th  September, 2024
Post a Comment
Read more

Brigade Hotel Ventures files draft papers with Sebi for Rs 900 crore IPO

By
  Brigade Hotel Ventures Ltd, owner and developer of hotels in South India, has filed draft papers with capital markets regulator Sebi to raise Rs 900 crore through an initial public offering (IPO).The proposed IPO is entirely a fresh issue of equity shares with no Offer-for-Sale (OFS) component, according to the draft red herring prospectus (DRHP).Proceeds from the issue to the tune of Rs 481 crore will go towards payment of debt, Rs 412 crore will be allocated to the company and Rs 69 crore to its material subsidiary, SRP Prosperita Hotel Ventures Ltd.Additionally, Rs 107.52 crore will be used to purchase an undivided share of land from the Promoter, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes.The company may raise up to Rs 180 crore through a Pre-IPO Placement.   If the placement is undertaken, the issue size will be reduced.Brigade Hotel Ventures Ltd is a wholly-owned subsidiary of Brigade Enterprises ...
Post a Comment
Read more