Category: Corporate

The provisional payroll data of EPFO released on 20th November, 2022 highlights that EPFO has added 16.82 lakh net members in the month of September, 2022. Year-on-year comparison of payroll data reflects an increase of 9.14% in net membership addition in September, 2022 as compared to the corresponding month during last year in 2021. The net enrolment during the month is 21.85% higher than the monthly average recorded during the last fiscal. As per data, around 2861 new establishments have started complying under the Employees’ Provident Funds & Miscellaneous Provisions Act,…

Income Tax Department initiated Search & Seizure actions on 20.10.2022 and 02.11.2022 on certain individuals who had executed Joint Development Agreements (JDAs) with various real-estate developers. The search action covered more than 50 premises spread across Bengaluru, Mumbai and Goa. During the course of the search operations, a large number of incriminating evidences, in the form of documents and digital data have been found & seized. Evidences regarding the sale agreements, development agreements and occupancy certificates (OCs) have also been seized. These evidences revealed that the land owners had not…

The Department of Expenditure, Ministry of Finance, today released the 8th monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs. 7,183.42 crore to 14 States. The grant has been released as per the recommendations of the Fifteenth Finance Commission. The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs. 86,201 crore to 14 States for the financial year 2022-23. The recommended grant is released by the Department of Expenditure to the recommended States in 12 equated monthly instalments. With the release of 8th instalment for…

Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman attended the 7th Annual Meeting of the Board of Governors of Asian Infrastructure Investment Bank (AIIB) via video conference from New Delhi today. Every year at the Annual Meeting, the Board of Governors meets to take key decisions on important matters relating to AIIB, and its future vision. India is a Founding Member and the second largest shareholder in AIIB. India also has the largest project portfolio within AIIB. The theme of this year’s Annual Meeting was “Sustainable Infrastructure Toward a Connected…

Department of Fertilizers along with its 9 PSUs is observing the Swachhata Special Campaign 2.0 from 2nd October 2022 to 31st October, 2022 and are actively participating in this Special Campaign 2 initiatives. In this regard, Secretary, Department of Fertilizers took a comprehensive review meeting with Officers in the Department of Fertilizers and CMDs/ MDs of the PSUs on 25.10.2022 through Video Conferencing regarding the progress made in the Swachhata Special Campaign 2 activities that are currently underway in the Department of Fertilizers and among its PSUs which are under the administrative control of Department of…

Union Minister for MSME Shri Narayan Rane graced the occasion of MoU signing between the National Small Industries Corporation Ltd. (NSIC), a Public Sector Enterprise of Ministry of MSME, Govt. of India, and Andhra Pradesh Medtech Zone Limited (AMTZ), on cooperation in the healthcare sector . Shri B.B. Swain, Secretary (MSME) and other senior officers were also present. The MoU was signed by Shri Gaurang Dixit, CMD, NSIC and Dr. Jitendra Sharma, MD & CEO, AMTZ. Shri Narayan Rane, mentioned that the signing of this MoU between NSIC and AMTZ…

State Bank of India (SBI) on Friday said SBI Global Factors Ltd has become its 100 per cent subsidiary as the country’s biggest lender has acquired about 14 per cent stake from other shareholders. SBI Global Factors Ltd (SBIGFL), a subsidiary of State Bank of India, is Non Banking Financial Company regulated by Reserve Bank of India. SBIGFL provides Domestic and Export Factoring services under one roof. It is headquartered in Mumbai with 09 Branches across India. SBI has acquired 13.82 per cent equity of existing shareholders i.e., SIDBI (6.53…

Navratna defence PSU Bharat Electronics Limited (BEL) participated in the National Defence MSME Conclave and Exhibition held at the Dussehra Ground, Kota, Rajasthan, on September 11 & 12, 2022. The exhibition is organised by the Department of Defence Production, Ministry of Defence, in association with the Society of Indian Defence Manufacturers (SIDM). The Conclave showcases Indian defence capabilities, empowers the armed forces and motivates students. BEL showcased its efforts in indigenisation and celebrated its partnership with MSMEs in this forum. The Hon’ble Lok Sabha Speaker, Om Birla, inaugurated the Conclave. Ajay Bhatt, Hon’ble Minister of State…

NHPC Limited hosted its 46th Annual General Meeting (AGM) yesterday through video conferencing in Faridabad. The members of the company approved a dividend of Rs 1.81/- per equity share for the year 2021-22, which is inclusive of an interim dividend of Rs 1.31/- per equity share paid in March 2022. Shri A.K. Singh, CMD, NHPC addressed the shareholders at the AGM wherein members of the NHPC Board including Shri Y.K. Chaubey, Director (Technical), Shri R.P. Goyal, Director (Finance), Shri Biswajit Basu, Director (Projects) and Independent Directors including Dr. Uday Sakharam Nirgudkar, Prof. (Dr.)…