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  • Gold Price Policy: Now the price of gold will be the same across the country, preparing to implement the One Nation One Rate Policy

    Gold Price Policy: Under the One Nation One Rate policy, the national level bullion exchange will decide the price of gold and jewelers across the country will have to sell gold at the same price which will be decided by the exchange.

    The price of gold and silver is different in different cities of the country. Apart from different taxes of each state, many other things are also added to the rate of gold and silver. Due to this, the prices of gold also vary from state to state. Now a big change is going to come in the country. The Gem and Jewellery Council is ready to implement the One Nation, One Rate policy.

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    After this, wherever you buy gold in the country, you will get the same rate. If this happens, the general public will get gold at the same price in their city. Actually, there was a long effort going on to adopt One Nation One Rate in the country. Now jewelers across the country have agreed to implement this policy. It is expected that its official announcement will be made next month i.e. in September.

    Also Read: Swiggy and Zomato increased platform fees, how much will it affect your pocket?

    What is One Nation One Rate Policy?

    ‘One Nation One Rate Policy’ is a scheme proposed by the Government of India. The government’s aim is to have the same price of gold across the country. To implement this scheme, the government will create a bullion exchange at the national level. The National Bullion Exchange will decide the price of gold across the country. You can understand it in simpler terms like this. Like in the stock market, the price of a company’s shares is the same across the country and these prices are listed on the Bombay Stock Exchange or the National Stock Exchange. Currently, the purchase and sale of gold and silver takes place on MCX. But now an exchange will be created for the bullion market as well. There was a demand for creating this exchange for a long time.

    This is how you will get benefit

    The national level bullion exchange will decide the price of gold and jewelers across the country will have to sell gold at the same price fixed by the exchange. This will not only increase transparency in this industry but also the general public will get gold at the same price across the country. Suppose you live in Lucknow and gold is expensive there. In such a situation, if there is a wedding in your house, then you go to that city to buy gold where gold is cheaper than Lucknow. After the implementation of this scheme, this problem will end.

    How the price is decided

    At present, the price of gold is decided by the bullion market association. It is different for every city. Generally, every bullion market releases the price of its city in the evening. Like petrol and diesel, the price of gold and silver is also decided every day. Global sentiments also play an important role in the price of gold and silver. The prices of international markets also affect the domestic market.

    Will the prices come down

    With the introduction of this policy, transparency will increase in the industry, which will also benefit the common man. The price of gold may also come down due to the end of the price difference. At the same time, the arbitrariness of jewelers can be curbed. With the introduction of this scheme, competition among businessmen will also increase, so this scheme can prove to be a milestone in terms of business. To implement this policy, the jewelers’ organization GJC has taken opinion from jewelers across the country. In which jewelers have agreed to implement it.

     

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  • TCS New Policy: 70% TCS employees started working from office, Impact of new policy regarding variable pay visible

    TCS Employees:

    Tata Consultancy Services (TCS) linked the attendance of employees to variable pay under the new policy. After this, about 70 percent of the company’s employees have returned to the office.

    Milind Lakkad, Chief HR Officer of the company, says that this measure is a temporary step and should be seen as such. In April 2024, TCS linked the quarterly variable payout of employees to their attendance in the office.

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    Those with less than 60 percent attendance will not be eligible for quarterly bonus. Earlier, TCS had made it mandatory for employees to work from office 5 days a week by ending work from home.

    Minimum 85% attendance is required in the office

    Under the new policy, employees must have a minimum of 85 percent attendance in the office to receive full quarterly variable pay. Also, disciplinary action can be taken if this is not followed consistently. Employees with 75-85 percent attendance will get 75 percent of their variable pay, while employees with 60-75 percent attendance will get only 50 percent of their variable pay.

    Also Read: PUC Certificate Charge Hike: PUC certificate prices increased in Delhi, you will have to pay Rs 20 more for bike, scooter

    Under the new policy, employees must have a minimum of 85 percent attendance in the office to receive full quarterly variable pay. Also, disciplinary action can be taken if this is not followed consistently. Employees with 75-85 percent attendance will get 75 percent of their variable pay, while employees with 60-75 percent attendance will get only 50 percent of their variable pay.

    The number of people coming to the office is increasing every week

    After releasing TCS’ April-June 2024 quarter financial results, Lakkad said, “Today, about 70 percent of our employees are back in the office. I am not very worried about how many people are not coming to the office and getting affected by it. I would say this number is increasing every week.” Lakkad further said that some are coming to the office for the first time as they were associated with the company during the pandemic. Everyone has to look at it positively.

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  • Parents of Indian Army Captain who died in Siachen fire tragedy want revision of next of kin policy after his wife gets most entitlements

    Captain Anshuman Singh's wife Smriti Singh and mother Manju Singh recently received the posthumous Kirti Chakra from President Droupadi Murmu
    Captain Anshuman Singh’s wife Smriti Singh and mother Manju Singh recently received the posthumous Kirti Chakra from Indian President Droupadi Murmu. Photo Courtesy: PIB

    Parents of Captain Anshuman Singh, who died in a fire incident in Siachen in July 2023, have asked the government to consider changes in the Indian Army’s ‘next of kin’ (NOK) policy. As per the policy, financial assistance is provided to the family members in case of an Army personnel’s death.

    According to reports, after a cadet or officer joins the Indian Army, his parents or guardians’ names are then recorded in the NOK but after the cadet or officer gets married, under Army rules, the name of the person’s spouse is recorded as the person’s next of kin instead of the parents.

    Singh received the posthumous Kirti Chakra, the country’s second-highest peacetime gallantry award.

    Indian Army Captain Anshuman Singh died last year in a fire tragedy in Siachen Photo Courtesy: TANISHK SENGAR X page

    Singh’s parents Ravi Pratap Singh and Manju Singh said their daughter-in-law has left their home and received most of the entitlements following the death of their son.

    Ravi Pratap Singh said the only thing he has is the photo of their son.

    “The criteria of the NOK is not correct. It should be changed. I have spoken to Indian Defence Minister Rajnath Singh over the issue,” he told TV9 Bharatvarsh.

    “In our case, our daughter-in-law does not stay with us anymore. The marriage lasted for five months and they did not have a child. We only have a photo of our son which is hanging on the wall. We have nothing else,” he said.

    The deceased soldier’s wife Smriti Singh and mother Manju Singh recently received the posthumous Kirti Chakra from President Droupadi Murmu.

    Ravi Pratap Singh said Congress MP and Leader of the Opposition in the Lok Sabha Rahul Gandhi has said he will raise the issue with Indian Defence Minister Rajnath Singh.

    “I don’t want parents to suffer like us in future,” Manju Singh told the news channel.

    Captain Anshuman Singh was posted with the 26 Punjab as a medical officer in the Siachen Glacier area.

    He died in a fire tragedy in Siachen last year.

  • Part of February Plans, Unrelated to UP Policy

    Indian automobile giant Mahindra & Mahindra has announced exciting news for SUV enthusiasts.

    The company has introduced a special price reduction for one of its flagship models, the Mahindra XUV700.

    As part of a promotional offer in celebration of the SUV’s third anniversary, the top AX7 variant is now available starting at Rs 19.49 lakh.

    This limited-time price cut comes as the XUV700 reaches a significant milestone, having recently rolled out its 200,000th unit in less than three years.

    Beginning July 10, the special pricing will be available for a period of four months.

    This move not only celebrates the SUV’s success but also aims to attract new customers.

    “The celebratory pricing and new colours reflect Mahindra’s gratitude towards its customers for their support and trust in the XUV700. The refreshed pricing aims to make the XUV700 even more accessible to a broader range of customers while providing exceptional value,” the automaker said in a statement.

    In addition to the price reduction, Mahindra has expanded the XUV700’s colour options with the introduction of two new colour options: Deep Forest and Burnt Sienna.

    This addition brings the total number of colour choices for the SUV to nine, offering customers a wide range of colour options to suit their personal preferences.

    With price reductions, the XUV700 has become an attractive option for people looking to buy a new SUV.

    Mahindra & Mahindra stated on Wednesday that its recent price reduction for XUV700 variants is not connected to Uttar Pradesh’s electric vehicle/hybrid vehicle policy.

    The company emphasised that the price cut is part of its strategic plan, driven by earlier material cost savings.

    Uttar Pradesh’s EV policy details:

    Uttar Pradesh, India’s second-largest car market, has eliminated registration fees for strong hybrid and plug-in vehicles, lowering their ownership cost by 10%.

    Presently, electric vehicles are taxed at 5%, whereas hybrids incur a 43% tax.

  • Big relief for LIC policy holders! Easy to surrender policy with this new app

    New Delhi. There are crores of LIC policy holders within the nation and there’s a information of relief for all of them. Actually, ACESO, a company that gives straightforward resolution service to insurance coverage policy holders, has launched ALIP (Assignment of Life Insurance Policies).

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    With its assist, policyholders who’re contemplating policy lapse or surrender will get nice relief. Because, life insurance coverage policy holders can be ready to simply get the surrender worth of their policy with the assistance of this platform. ALIP will present different services other than surrender worth. In which it is going to inform the policyholders about the advantages associated to life protection yr after yr from the beginning of the policy until the maturity date. At the identical time, in case of dying of the policyholder, all the data and providers associated to the policy can be offered to the nominee.

    Also Read: IMD has issued an alert concerning storm and heavy rain in these states in just a few hours

    Payment in 48 hours, how?

    What units ALIP other than receiving surrender worth from the insurance coverage firm is its quicker and higher cost course of. Claim consideration is often began inside 48 hours after all of the required paperwork for policy surrender are accomplished. Apart from this, efforts are made to do all the documentation and KYC course of on-line, which reduces the trouble for each the policyholder and the LIC agent.

    Ranjit Kulkarni, Head of Research at ACESO, stated, “LIC points about 80% endowment insurance policies. However, 50% of those insurance policies are surrendered earlier than maturity or lapse. He stated that ALIP offers LIC insured folks a easy choice to surrender their insurance policies earlier than time.

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  • Big relief for LIC policy holders! Easy to surrender policy with this new app

    New Delhi. There are crores of LIC policy holders within the nation and there’s a information of relief for all of them. Actually, ACESO, a corporation that gives simple resolution service to insurance coverage policy holders, has launched ALIP (Assignment of Life Insurance Policies).

    – Advertisement –

    With its assist, policyholders who’re contemplating policy lapse or surrender will get nice relief. Because, life insurance coverage policy holders shall be ready to simply get the surrender worth of their policy with the assistance of this platform. ALIP will present different services aside from surrender worth. In which it’ll inform the policyholders about the advantages associated to life protection 12 months after 12 months from the beginning of the policy until the maturity date. At the identical time, in case of dying of the policyholder, all the knowledge and providers associated to the policy shall be supplied to the nominee.

    Also Read: IMD has issued an alert relating to storm and heavy rain in these states in a number of hours

    Payment in 48 hours, how?

    What units ALIP aside from receiving surrender worth from the insurance coverage firm is its quicker and higher fee course of. Claim consideration is normally began inside 48 hours after all of the required paperwork for policy surrender are accomplished. Apart from this, efforts are made to do your complete documentation and KYC course of on-line, which reduces the trouble for each the policyholder and the LIC agent.

    Ranjit Kulkarni, Head of Research at ACESO, mentioned, “LIC points about 80% endowment insurance policies. However, 50% of those insurance policies are surrendered earlier than maturity or lapse. He mentioned that ALIP provides LIC insured individuals a easy possibility to surrender their insurance policies earlier than time.

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  • New EPF Rules: Big relife..! EPFO updates policy on cheque leaf and bank passbook uploads. Details here

    New Delhi: EPFO ​​has given aid to its crores of subscribers. In some instances, it’ll now not be vital for them to add the photograph of the cancelled cheque or bank passbook for declare settlement.

    EPFO ​​has mentioned that exemption has been given from importing the photograph of the cheque guide or bank passbook through the strategy of declare settlement solely in instances the place all different circumstances are met. This will assist in settling the claims filed on-line as rapidly as attainable. In most instances, claims are rejected if the picture of the cheque leaf or attested bank passbook copy is just not uploaded.

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    EPFO has given this data in a round issued on 28 May. This determination has been taken for fast settlement of claims filed on-line and to scale back the variety of claims rejected resulting from non-uploading of picture of examine leaf/attested bank passbook. Approval has been taken from CPFC for this. But this exemption has been given solely in some instances of validation.

    Also Read: New Rule From 1st June: These prime 5 guidelines shall be carried out from tomorrow – Check particulars instantly

    That is, this exemption shall be given solely to these members whose different validations are full. These embody on-line verification of bank KYC by the involved bank or NPCI, verification of bank KYC by the employer utilizing DSC and verification of Aadhaar quantity seeded by UIDAI.

    This is how officers will acknowledge

    In such instances, a message will seem on the finish of the PDF associated to the declare. It shall be written that the bank has verified the bank KYC on-line and the employer has digitally signed it. Therefore, it isn’t obligatory to add the picture of the examine leaf / attested bank passbook. For the comfort of the officers investigating such claims, the power of fast shade tag shall be offered. This will assist them keep away from returning such instances.

    EPFO ​​has greater than six crore subscribers. 12% deduction is made on the essential wage of employees working within the personal sector for the EPF account. Along with this, the corporate additionally deposits the identical quantity within the PF account of the worker. Out of the cash deposited by the employer, 8.33% goes to EPS (Employees Pension Scheme), whereas the remaining 3.67% goes to EPF.

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  • Philippines in a landmark education policy opens doors

    twenty eighth May 2024: In a landmark transfer, the Philippines has introduced a policy change that can considerably profit Indian medical college students pursuing their MBBS levels. A latest modification to the Philippine Medical Act of 1959 has been accepted by the House of Representatives, paving the best way for Indian college students, together with these from overseas, to register and follow drugs in the Philippines. This improvement comes after a number of years of persistent requests from India, recognizing the Philippines as a prime international vacation spot for medical education.

    The Philippines has emerged as a rising star in medical education, attracting aspiring docs worldwide. It affords high-quality education at aggressive prices, with tuition charges considerably decrease than these in Western international locations. The US-aligned curriculum ensures easy transitions to worldwide careers, supported by a sturdy community of worldwide acknowledged residency applications.

    Under this new provision, Indian college students who full their Doctor of Medicine diploma from a Philippine College of Medicine acknowledged by the Commission on Higher Education (CHED), together with a 12-month internship, can be eligible to register and follow drugs in the Philippines. The CHED will challenge the mandatory certification to facilitate this course of, guaranteeing a easy transition for Indian graduates.

    Kadwin Pillai, Director of Transworld Educare and Chairman of Kings International Medical Academy, remarked on this improvement, “This modification is a landmark achievement, not just for Indian college students however for all overseas medical college students finding out in the Philippines. It acknowledges the excessive requirements of medical education in the Philippines and gives a clear pathway for our graduates to follow drugs both regionally or internationally. This change will vastly profit our college students and strengthen the Philippines’ place as a main vacation spot for medical education in the Asia-Pacific area.”

    This provision is especially useful for Indian medical college students, who’ve been more and more selecting the Philippines for his or her medical education because of elements such because the prime quality of education, English because the medium of instruction, and inexpensive dwelling prices. The new rules additionally align with the Indian Medical Commission’s necessities for registration, permitting Indian graduates to follow drugs in India after acquiring their MD levels from the Philippines.

    With 64 duly approved medical colleges throughout the Philippines, Indian college students now have an much more compelling cause to pursue their medical education in this nation. The modification not solely enhances their tutorial {and professional} prospects but in addition strengthens the academic ties between India and the Philippines.

  • India’s National Deep Tech Start-up Policy to Nur

    Hyderabad, May 23, 2024: FTCCI organised a session on Catalyzing Deep-tech Innovations in direction of Global Presence within the metropolis at its premises on Thursday.

    Delivering Key Note tackle Mr NM Rao, a scientist in protein engineering and CEO of the Atal Incubation Center at CCMB stated deep tech refers to cutting-edge applied sciences that construct on superior science and engineering improvements to carry disruptive new merchandise to the market.

    SURESH SINGHAL_NM RAO_MEELA JAYA DEV_K MOHAN RAIDU

    The traits of deep-tech startups are robust R &D targeted, excessive entry barrier, mental property, complexity, longer time to market, longer gestation, complexity, want for affected person capital and many others he stated.

    The key developments shaping deep-tech funding are sustainability taking centre stage, cross-border collaboration, well being care, biotech surge, authorities initiatives, AI and Quantum Computing Boom he stated

    India is world quantity 5 in information technology however take a look at the innovation, we’re far behind. Innovation is the way you carry information helpful to society.

    Hyderabad has extra central establishments. The total Habshiguda has many such establishments. So, the locality may even be named Science Corridor.

    We should make use of these establishments. Take as an illustration Veganism. We have the best vegetarian inhabitants on the planet with over 30% vegetarians. At the identical time, 40% of Indians are protein poor. Where do get protein in case you are a vegetarian? That is a big alternative for deep tech analysis and innovation.

    He mentioned about cultured meat and what’s at stake and many others. He added that the primary downside with deep tech in India is that it’s exhausting to discover buyers who’re prepared to await these tasks to succeed.

    National Deep Tech Start-up coverage goals to assist and nurture the distinctive necessities of Deep Tech Startups in India. Now this coverage in draft mode and he urged folks to contribute to the identical to make it a extra helpful coverage.

    His speak was adopted by a panel dialogue on constructing a worldwide deep-tech ecosystem, which was moderated by Pankaj Dewan, Founder Idea Labs. He noticed that Deep-tech has to be pushed by youth and startups for a higher future.

    The Panelists of the panel have been Bala Peddigari, Manish Gupta and Meghna Girish drawn from IT and life science backgrounds.

    Meela Jayadev, President of FTCCI stated the nation is prepared to dominate deep tech analysis. We have almost 21000 deep tech startups that emerged in India.

    Ok Mohan Raidu, Chairman of the ICT Committee off FTCCI stated deep tech performs a pivotal function in shaping our future.


    Sujata

  • DPIIT Secy on India’s new EV policy

    While all eyes are on Elon Musk-run Tesla to make its entry into India, the government is expecting a good response from several automobile majors on the electric-vehicle (EV) policy, Rajesh Kumar Singh, Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), said on Saturday.

    Last month, the tech billionaire said he would not visit India amid crucial Tesla quarterly results, as he delayed his visit to the later part of the year to announce his investment plans.

    Everybody talks about one company (Tesla), but we are expecting responses from many companies to that policy,” Singh said at the CII’s annual business summit in the national capital.

    The new EV policy was announced in March, where the government reduced the Customs duty to 15 per cent with certain conditions. It entailed a minimum investment of Rs 4,150 crore to set up EV manufacturing facilities, production to start within three years and reach 25 per cent DVA (domestic value addition) by three years and 50 per cent DVA within five years at the maximum.

    The new EV policy paved the way for Musk and other automakers to enter the Indian EV market. According to experts, the EV market in the country can achieve over 40 per cent penetration with $100 billion revenue by 2030. The country is also making rapid progress in setting up EV charging infrastructure to phase out diesel vehicles within a stipulated time frame.